ENPH - NASDAQ
Enphase Energy, Inc.
$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.
At a Glance
Live SnapshotEnphase Energy, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.
CapEx Intensity
Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extension—monitor closely.
Cash Flow Quality Insight
Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.
Enphase Energy, Inc. Cash Flow Statement
ENPH • NASDAQ
| Enphase Energy, Inc. Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||||||||||||
172.1M | 102.7M | 438.9M | 397.4M | 145.4M | 134M | 161.1M | -11.6M | -45.2M | -67.5M | -22.1M | -8.1M | -25.9M | -38.2M | -32.3M | -21.8M | -16.9M | -14.5M | |
81.7M | 81.4M | 74.7M | 52.4M | 30.8M | 18.1M | 14.1M | 9.7M | 9M | 10.6M | 10.5M | 8.3M | 7M | 5.6M | 3M | 1.6M | 803K | 332K | |
6.1M | -58.3M | -43.3M | 3.6M | -31.2M | -17.1M | -73.4M | 123K | -1.4M | 651K | 642K | 960K | 967K | 668K | 32.4M | 24K | 0.0 | 0.0 | |
214.1M | 211.4M | 212.9M | 0.0 | 114.3M | 42.5M | 20.2M | 11.4M | 6.7M | 10.3M | 12.7M | 9.7M | 6.8M | 4.8M | 2.1M | 829K | 180K | 0.0 | |
15.4M | 33.6M | -3.5M | 229.3M | 77.6M | 63.5M | 15.6M | 5M | 5.2M | 5.8M | 360K | 483K | 429K | 4.8M | -30.1M | 279K | 324K | 208K | |
(0.0) | (32.7M) | (74.7M) | (33.2M) | (4.8M) | (3.5M) | (1.8M) | (775K) | (909K) | (1.1M) | (594K) | (472K) | (899K) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
-352.9M | 143M | 17.1M | 62.1M | 15.1M | -24.7M | 1.4M | 1.5M | -2.8M | 7.1M | -23.3M | 12.8M | 9.8M | -22.2M | 24.5M | 1.2M | -3.3M | 1.7M | |
136.5M | 513.7M | 696.8M | 744.8M | 352M | 216.3M | 139.1M | 16.1M | -28.4M | -33M | -21.2M | 24.2M | -872K | -44.6M | -367K | -17.9M | -18.9M | -12.2M | |
INVESTING ACTIVITIES | ||||||||||||||||||
-40.6M | -33.6M | -110.4M | -46.4M | -52.3M | -20.6M | -14.8M | -4.2M | -4.1M | -12.8M | -12.8M | -14M | -6.3M | -13M | -14.7M | -3.3M | -2.2M | -2.5M | |
(0.0) | (0.0) | -15M | -62.2M | -293.7M | -5M | (0.0) | -15M | (0.0) | (1.1M) | (0.0) | -2.5M | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
-744.8M | -1.2B | -2.1B | -923.4M | -935M | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
961.8M | 1.3B | 1.8B | 660.1M | 61.6M | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 300K | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
-69.6M | 0.0 | 0.0 | 0.0 | -250K | 0.0 | 0.0 | -15M | 0.0 | 372K | 300K | -300K | 0.0 | 0.0 | 0.0 | 0.0 | 48K | -146K | |
(106.8M) | (128.3M) | -366.4M | -371.9M | -1.2B | -25.6M | -14.8M | -19.2M | -4.1M | -11.8M | -12.5M | -16.5M | -6.3M | -13M | -14.7M | -3.3M | -2.1M | -2.6M | |
FINANCING ACTIVITIES | ||||||||||||||||||
-121.4M | -378.7M | -396.1M | 10.4M | -271.7M | 0.0 | 0.0 | 19.8M | 26.4M | 16.1M | 0.0 | 0.0 | 0.0 | 58.6M | 1.9M | 0.0 | 0.0 | 15.7M | |
-102.2M | -7K | 0.0 | 0.0 | 610.3M | 269.1M | 81.6M | 58M | 16.3M | 17.1M | 16.9M | -8.7M | -2.5M | -5.2M | 27.9M | 6.8M | 1.3M | 769K | |
-130M | -391.4M | -410M | (0.0) | -500M | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
-18M | -81.6M | -120.6M | -27.5M | -29.1M | -77.4M | -15.7M | 2.8M | 27M | 17.3M | 3.7M | 5.4M | 2.4M | 0.0 | -847K | -29K | -83K | 0.0 | |
-241.6M | -460.3M | -516.8M | -17.1M | 309.4M | 191.7M | 65.9M | 80.6M | 43.3M | 34.4M | 20.6M | -3.3M | -58K | 51.4M | 26.5M | 52.5M | 25.5M | 16.4M | |
CASH FLOW SUMMARY | ||||||||||||||||||
8.5M | -6.3M | 1.9M | -1.9M | -2M | 826K | -257K | -502K | 646K | -315K | -522K | -504K | 83K | -31K | 78K | 0.0 | 0.0 | 0.0 | |
10.2M | 175.4M | -184.5M | 353.9M | -560.1M | 383.3M | 189.9M | 77.1M | 11.4M | -10.7M | -13.6M | 3.8M | -7.1M | -6.2M | 11.5M | 31.4M | 4.5M | 0.0 | |
464.1M | 288.7M | 473.2M | 119.3M | 679.4M | 296.1M | 106.2M | 29.1M | 17.8M | 28.5M | 42M | 38.2M | 45.3M | 51.5M | 40M | 8.6M | 4.1M | 0.0 | |
474.3M | 464.1M | 288.7M | 473.2M | 119.3M | 679.4M | 296.1M | 106.2M | 29.1M | 17.8M | 28.5M | 42M | 38.2M | 45.3M | 51.5M | 40M | 8.6M | 0.0 | |
95.9M | 480.1M | 586.4M | 698.4M | 299.5M | 195.8M | 124.3M | 12M | -32.6M | -45.8M | -33.9M | 10.2M | -7.1M | -57.6M | -15M | -21.1M | -21.1M | -14.5M |
SEC Filings
ENPH - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | May 15, 2026 | May 13, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | April 28, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 28, 2026 | April 28, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 06, 2026 | March 31, 2026 | 2026 | |
DEF 14A DEF 14A 2025 N/A | April 01, 2026 | December 31, 2025 | 2025 | |
10-K 10-K 2025 FY FY | February 17, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | February 03, 2026 | February 03, 2026 | 2026 | |
8-K 8-K 2026 N/A | January 23, 2026 | January 20, 2026 | 2026 | |
10-Q 10-Q 2025 Q3 Q3 | October 28, 2025 | September 30, 2025 | 2025 | |
8-K 8-K 2025 N/A | October 28, 2025 | October 28, 2025 | 2025 |
Related Guides
Continue your ENPH research with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.