Enphase Energy, Inc.ENPHNASDAQ

Revenue (LTM)

$1.5B

+10.7% YoY

Net Income (LTM)

$172M

+67.7% YoY

Free Cash Flow

$96M

Revenue CAGR (5Y)

+13.7%

Marginsimproving

FCF$0.1B

Profitable

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	1,382	2,331↑68.7%	2,291↓1.7%	1,330↓41.9%	1,473↑10.7%
Gross Profit	554	975↑75.8%	1,058↑8.6%	629↓40.6%	687↑9.2%
Operating Income	216	448↑107.7%	446↓0.6%	77↓82.7%	165↑113.0%
Net Income	145	397↑173.2%	439↑10.5%	103↓76.6%	172↑67.7%
EBITDA	197	520↑164.2%	597↑14.7%	210↓64.7%	290↑37.8%
EPS Diluted	1.02	2.77↑171.6%	3.08↑11.2%	0.75↓75.6%	1.29↑72.0%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	119	473↑296.6%	289↓39.0%	369↑27.8%	474↑28.5%
Total Current Assets	1,462	2,264↑54.8%	2,444↑7.9%	2,327↓4.8%	2,607↑12.0%
Total Assets	2,079	3,084↑48.3%	3,383↑9.7%	3,250↓3.9%	3,510↑8.0%
Total Current Liabilities	440	638↑45.1%	532↓16.6%	660↑24.0%	1,262↑91.2%
Total Liabilities	1,649	2,259↑37.0%	2,399↑6.2%	2,417↑0.7%	2,423↑0.3%
Total Equity	430	826↑91.9%	984↑19.1%	833↓15.3%	1,087↑30.5%
Total Debt	1,053	1,315↑24.8%	1,318↑0.2%	1,331↑1.0%	1,244↓6.6%
Net Debt	934	842↓9.9%	1,029↑22.3%	962↓6.5%	769↓20.0%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	352	745↑111.6%	697↓6.4%	514↓26.3%	137↓73.4%
Capital Expenditure	-53	-46↑11.6%	-110↓137.7%	-34↑69.6%	-41↓20.9%
Free Cash Flow	300	698↑133.2%	586↓16.0%	480↓18.1%	96↓80.0%
Stock-Based Comp	114	0	213	211↓0.7%	214↑1.3%
Net Change in Cash	-560	354↑163.2%	-184↓152.1%	175↑195.1%	10↓94.2%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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