Stocktoria
Enphase Energy, Inc. ENPH
Enphase Energy, Inc. financials (annual)
Bars are annual figures from 2016 to 2025; red bars are negative (a loss or cash outflow).
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5B | $1.3B | $2.3B | $2.3B | $1.4B | $774.4M | $624.3M | $316.2M | $286.2M | $322.6M |
| Gross profit | $687.0M | $629.1M | $1.1B | $974.6M | $554.4M | $346.0M | $221.2M | $94.4M | $56.0M | $58.0M |
| R&D expense | $189.1M | $201.3M | $227.3M | $168.8M | $105.5M | $55.9M | $40.4M | $32.6M | $33.2M | $50.7M |
| Operating income | $157.5M | $77.3M | $445.7M | $448.3M | $215.8M | $186.4M | $102.7M | $1.6M | -$39.4M | -$62.7M |
| Interest expense | — | — | $8.8M | $9.4M | $45.2M | $21.0M | $9.7M | $10.7M | $8.2M | $2.8M |
| Income tax | $32.7M | $17.5M | $74.2M | $54.7M | -$24.5M | -$14.6M | -$71.0M | $1.4M | -$149,000 | $1.5M |
| Net income | $172.1M | $102.7M | $438.9M | $397.4M | $145.4M | $134.0M | $161.1M | -$11.6M | -$45.2M | -$67.5M |
| EPS (diluted) | $1.29 | $0.75 | $3.08 | $2.77 | — | — | — | — | — | — |
| Operating cash flow | $136.5M | $513.7M | $696.8M | $744.8M | $352.0M | $216.3M | $139.1M | $16.1M | -$28.4M | -$33.0M |
| Free cash flow | $95.9M | $480.1M | $586.4M | $698.4M | $299.8M | $195.8M | $124.3M | $12.0M | -$32.6M | -$45.1M |
| Cash & equivalents | $474.3M | $369.1M | $288.7M | $473.2M | $119.3M | $679.4M | $251.4M | $106.2M | $29.1M | $17.8M |
| Inventory | $288.0M | $165.0M | $213.6M | $149.7M | $74.4M | $41.8M | $32.1M | $16.3M | $26.0M | $32.0M |
| Total assets | $3.5B | $3.2B | $3.4B | $3.1B | $2.1B | $1.2B | $713.2M | $339.9M | $169.1M | $163.6M |
| Total liabilities | $2.4B | $2.4B | $2.4B | $2.3B | $1.6B | $716.1M | $441.0M | $332.2M | $178.3M | $162.3M |
| Shareholders' equity | $1.1B | $833.0M | $983.6M | $825.6M | $430.2M | $484.0M | $272.2M | $7.8M | -$9.1M | $1.3M |
Growth · year-over-year · Revenue CAGR 18.4%
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth | +10.7% | -41.9% | -1.7% | +68.7% | +78.5% | +24.0% | +97.5% | +10.5% | -11.3% | -9.7% |
| Net income growth | +67.7% | -76.6% | +10.5% | +173.2% | +8.5% | -16.8% | — | — | — | — |
| EPS growth | +72.0% | -75.6% | +11.2% | — | — | — | — | — | — | — |
| Free cash flow growth | -80.0% | -18.1% | -16.0% | +133.0% | +53.1% | +57.5% | +937.3% | — | — | — |
Each column is the change versus the prior fiscal year. Growth off a negative or zero base is shown as “—”. CAGR is the compound annual revenue growth across the years shown.
Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.