$69.02
+8.3%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. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services. It also offers AC battery storage systems; Envoy communications gateway; and Enlighten cloud-based monitoring service, as well as other accessories. The company sells its solutions to solar distributors; and directly to large installers, original equipment manufacturers, strategic partners, and homeowners, as well as through its legacy product upgrade program or online store. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $68.3M | $34.1M | $17.1M | $8.5M | $4.3M | $2.1M | $1.1M | $533.4K | $266.7K | $133.3K |
| Maintenance CapEx | -$4.1M | -$2.0M | -$1.0M | -$508.0K | -$254.0K | -$127.0K | -$63.5K | -$31.7K | -$15.9K | -$7.9K |
| Owner Earnings | $64.2M | $32.1M | $16.1M | $8.0M | $4.0M | $2.0M | $1.0M | $501.6K | $250.8K | $125.4K |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $59.5M | $27.5M | $12.7M | $5.9M | $2.7M | $1.3M | $585.4K | $271.0K | $125.5K | $58.1K |
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