Company profile · free preview
Enphase
ENPH · Updated 11/12/2026
Revenue
$1.5B
Fiscal 2025
Net income
$172.1M
Fiscal 2025
Free cash flow
$95.9M
Fiscal 2025
Net cash / (debt)
—
Fiscal 2025
Five-year financials
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | $1.5B | $1.3B | $2.3B | $2.3B | $1.4B |
| Net income | $172.1M | $102.7M | $438.9M | $397.4M | $145.4M |
| Diluted EPS | — | — | — | — | — |
| Operating cash flow | $136.5M | $513.7M | $696.8M | $744.8M | $352.0M |
| Free cash flow | $95.9M | $480.1M | $586.4M | $698.4M | $299.8M |
| Cash | $474.3M | $369.1M | $288.7M | $473.2M | $119.3M |
| Total debt | — | — | — | — | — |
Financial trends
Historical · FY2021–FY2025
Source: Reported annual filings (10-K / 20-F) and provider data. Fiscal years as reported; margins are calculated from the reported figures shown.
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Create free accountWhere the cash went
Cumulative, fiscal 2021–2025, straight from the reported cash-flow statements.
Reinvested in capex
11.6%
of operating cash flow
Returned to owners
—
of free cash flow (buybacks + dividends)
Diluted share count
—
change 2021–2025
| Operating cash flow | $2.4B |
| Capital expenditure | ($283.3M) |
| Free cash flow | $2.2B |
| Share buybacks | — |
| Dividends paid | — |
| Acquisitions (net) | — |
| Net debt issued / (repaid) | — |
| Stock-based compensation (non-cash) | — |
"—" means a year didn't report that line, so no total is shown rather than an estimate.
Enphase return on capital (fiscal 2025)
ROIC
5.9%
Return on capital
7.9%
Return on equity
17.9%
Return on assets
5.1%
Gross margin
46.6%
Operating margin
11.2%
Net debt / EBITDA
3.07x
Enphase insider buying and selling
Recent open-market trades reported on Form 4. Context only — not a reason to buy or sell.
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-11-03 | Trivedi Shanker | Purchase | 1,000 | $30.59 |
| 2026-11-02 | Kothandaraman Badrinarayanan | Purchase | 10,000 | $26.75 |
| 2026-08-14 | MORA RICHARD | Sale | 1,500 | $40.36 |
| 2026-07-30 | MORA RICHARD | Sale | 2,000 | $36.76 |
| 2026-06-12 | Trivedi Shanker | Purchase | 1,000 | $53.91 |
| 2026-06-01 | MORA RICHARD | Sale | 700 | $64.20 |
| 2026-05-26 | Kothandaraman Badrinarayanan | Purchase | 600 | $68.39 |
| 2026-05-26 | Kothandaraman Badrinarayanan | Purchase | 4,400 | $67.37 |
SEC filings
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