Reading the tape
NASDAQ: ENPH
Enphase Energy, Inc.
Energy · Solar
Market Cap
$4.71B
52w High
$54.43
52w Low
$25.78
P/E
27.22
Volume
5.01M
Outstanding Shares
131.78M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -21.81%Revenue (TTM): 10.72%FCF (TTM): -80.02%P/FCF: 57th pct
What changed
The stock fell 21.81% over the last year. Revenue grew 10.72% over the trailing twelve months. Operating margin moved from 5.81% to 10.65%. Free cash flow declined 80.02% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price. The market appears to be discounting durability, risk, or trust rather than just the latest reported numbers.
What would invalidate this read
This read changes if operating margin (currently 10.65%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Enphase 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.
CEOBadrinarayanan Kothandaraman
SectorEnergy
IndustrySolar
Employees2,781
IPO dateMar 30, 2012
Valuation
Forward P/E—
EV/EBITDA17.15
Enterprise value$4.97B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth-10.29%
Gross margin46.64%▼1.37%vs FY2024
Operating margin10.65%▲92.41%vs FY2024
ROE15.84%▲28.49%vs FY2024
Analyst consensus
RatingHold
Target price$42.73▲19.46%
23
Buy
26
Hold
6
Sell
⚠ Analyst ratings tend to be lagging indicators — upgrades often follow price gains rather than precede them. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Apr 28, 2026
Q2 FY26 · EPS est $0.43 · Revenue est $282.28M
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