Enphase Energy, Inc.
ENPHTechnologyNASDAQSolar · Last scanned May 30, 2026
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Daily timeframeEnphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. With a market capitalization of $9.01B, it sits in mid-cap territory. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.
Market Cap
$9.01B
Beta
1.25
P/E (TTM)
67.68
P/E (Fwd)
28.25
EPS (TTM)
$1.01
EPS (Fwd)
$2.42
ROE
14.1%
ROA
2.2%
Cash
$930.6M
Total Debt
$612.1M
Free CF
$91.6M
52W Change
65.4%
Annual Financials
Cash vs Debt
With $930.6M in cash and $612.1M in debt, ENPH maintains more liquidity than leverage. This favorable balance sheet position can be an asset when capital markets become less accommodating. The company generates $91.6M in free cash flow annually, which funds everything from R&D to shareholder returns without needing external financing. ROE of 14.1% points to decent capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 2.2% is on the lower side, which is common in asset-heavy industries. Revenue has pulled back from $2.33B (2022) to $1.47B (2025), a 37% decline worth watching.
At over 50x earnings, ENPH carries valuation risk — any slowdown in growth expectations could lead to meaningful price adjustments. It is important to consider these factors alongside broader market conditions and individual financial goals when reviewing ENPH.