Touchstone
Last syncNov 1, 2026, 6:55 PM ET

ENPH

Enphase Energy, Inc. Information Technology Semiconductors & Related Devices Russell 3000
$25.65Close $3.4BMarket cap $24.99 – $72.3352-week range Late-januaryNext report · estimated

Highlights

Cautions

  • Not in an uptrend 0 of 8 trend conditions
  • Lagging the market RS 9 · weaker than 91% of stocks over 12 months
  • Far from its high 65% below its 52-week high
  • Distribution down-day volume 1.7× up-day volume over 50 sessions
  • Earnings shrinking EPS −65% year on year

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Dec 31, 2025 · filed Oct 27, 2026
Off 12-month high 65%
1wk down 18.8% price change
1mo down 22.2% price change
12-month return down 15% market up 11% · its own down 28%
F-score 6 / 9 Mixed
Altman Z 1.78 Moderate riskadjusted
P/E 19.5× price / earnings
PEG 0.26 P/E / EPS growth
P/B 3.1× price / book
Earnings yield up 4.6% EBIT / enterprise value
Cheaper than 54% of the market · around average
Revenue growth up 11% year on year
EPS growth down 65% latest quarter · -63 pts
Sales growth down 29% latest quarter · -9 pts
ROE up 18% return on equity
Free cash margin up 7% $95.9M FCF
D/E 0.53 long-term debt / equity
Net debt / EBITDA 0.4×
Interest cover —EBIT / interest
Piotroski tests
  • profits not fully backed by cash
  • short-term liquidity weakened
  • gross margin narrowed
  • profitable on its assets
  • generating cash from operations
  • profitability improving
  • reduced long-term debt
  • no new shares issued
  • assets working harder

Repair signals

  • Long-term debt down 52% ($1.2B → $0.6B)
  • Revenue reaccelerating (-42% then +11%)

Trade setup

ATR% 7.6% $1.94 a day · 2×ATR $21.77
RS 9 / 99 vs the universe
Trend 0 / 8 trend template
Relative volume 1.4× vs 50-day average
Up/down volume 0.60 50 sessions
Implied move — no scheduled report
Trend template · 0 of 8

Screen verdict

Did not qualify for any screen.

Warning signs

none flagged
  • No restatement or impairment
  • Equity positive
  • Interest covered
  • No material dilution
  • Profits tracking cash
  • Margins and revenue not shrinking
Last reported Oct 27, 2026
Last shock Oct 28, 2026-16% in one session5.1× volumeon results+3% since

Financials

6 fiscal years · from filings
Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $1.5B +11% on FY2024
$0 $2.5B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $774.4M FY2021 · $1.4B FY2022 · $2.3B FY2023 · $2.3B FY2024 · $1.3B FY2025 · $1.5B
Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology $172.1M +68% on FY2024
$0 $500M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $134.0M FY2021 · $145.4M FY2022 · $397.4M FY2023 · $438.9M FY2024 · $102.7M FY2025 · $172.1M
Free cash flow Cash from running the business less what it spent on equipment and buildings: the cash a year actually left behind, which profit alone does not show. Not shown for banks and insurers, whose cash moves with their loans. Methodology $95.9M -80% on FY2024
$0 $1B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $195.8M FY2021 · $299.8M FY2022 · $698.4M FY2023 · $586.4M FY2024 · $480.1M FY2025 · $95.9M
Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology
  • Gross 47%
  • Net 12%
  • Free cash 7%
0% 50% FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Gross 45% · Net 17% · Free cash 25% FY2021 · Gross 40% · Net 11% · Free cash 22% FY2022 · Gross 42% · Net 17% · Free cash 30% FY2023 · Gross 46% · Net 19% · Free cash 26% FY2024 · Gross 47% · Net 8% · Free cash 36% FY2025 · Gross 47% · Net 12% · Free cash 7%
Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology $97.9M net debt
  • Cash
  • Long-term debt
$0 $2B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Cash $679.4M · Long-term debt $4.9M FY2021 · Cash $119.3M · Long-term debt $951.6M FY2022 · Cash $473.2M · Long-term debt $1.2B FY2023 · Cash $288.7M · Long-term debt $1.3B FY2024 · Cash $369.1M · Long-term debt $1.2B FY2025 · Cash $474.3M · Long-term debt $572.2M
Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 131.08m +1.6% since FY2020
136.44m 128.96m FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · 128.96m FY2021 · 133.89m FY2022 · 136.44m FY2023 · 135.72m FY2024 · 132.45m FY2025 · 131.08m
  FY2020Dec 31, 2020 FY2021Dec 31, 2021 FY2022Dec 31, 2022 FY2023Dec 31, 2023 FY2024Dec 31, 2024 FY2025Dec 31, 2025
Revenue $774.4M $1.4B $2.3B $2.3B $1.3B $1.5B
Gross margin 45% 40% 42% 46% 47% 47%
Operating income $186.4M $215.8M $448.3M $445.7M $77.3M $157.5M
Net income $134.0M $145.4M $397.4M $438.9M $102.7M $172.1M
Net margin 17% 11% 17% 19% 8% 12%
Earnings per share $0.94 $1.02 $2.75 $3.06 $0.73 $1.28
Free cash flow $195.8M $299.8M $698.4M $586.4M $480.1M $95.9M
Free cash margin 25% 22% 30% 26% 36% 7%
Cash $679.4M $119.3M $473.2M $288.7M $369.1M $474.3M
Long-term debt $4.9M $951.6M $1.2B $1.3B $1.2B $572.2M
Shareholders' equity $484.0M $430.2M $825.6M $983.6M $833.0M $1.1B
Shares outstanding 128.96m 133.89m 136.44m 135.72m 132.45m 131.08m

Filings

SEC EDGAR
FiledReportPeriod to Lag
Oct 27, 2026 Quarterly ↗ Sep 30, 2026 27d
Jul 28, 2026 Quarterly ↗ Jun 30, 2026 28d
Apr 28, 2026 Quarterly ↗ Mar 31, 2026 28d
Feb 17, 2026 Annual ↗ Dec 31, 2025 48d
Oct 28, 2025 Quarterly ↗ Sep 30, 2025 28d
Jul 22, 2025 Quarterly ↗ Jun 30, 2025 22d
Apr 22, 2025 Quarterly ↗ Mar 31, 2025 22d
Feb 10, 2025 Annual ↗ Dec 31, 2024 41d
Oct 22, 2024 Quarterly ↗ Sep 30, 2024 22d
Jul 23, 2024 Quarterly ↗ Jun 30, 2024 23d
Apr 23, 2024 Quarterly ↗ Mar 31, 2024 23d
Feb 9, 2024 Annual ↗ Dec 31, 2023 40d

Current reports

FiledDisclosed
Oct 29, 2026 Other events ↗
Oct 27, 2026 Results ↗
Aug 10, 2026 Regulation FD ↗
Jul 28, 2026 Results ↗
Jun 18, 2026 Other events ↗
Jun 15, 2026 Director or officer change ↗
May 15, 2026 Director or officer change · Shareholder vote ↗
Apr 28, 2026 Results ↗
Apr 6, 2026 Results · Other events ↗
Feb 3, 2026 Results ↗
Jan 23, 2026 Regulation FD ↗
Oct 28, 2025 Results ↗