Enphase Energy share price today

Enphase Energy, Inc.'s share price was $31.55 at the close on 4 November 2026. It has been moving sideways for 12 weeks. That is 22.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between $26 and $68, and at that close it sat 14% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Enphase Energy, Inc. is in stage 1. The phase helps read everything below.

Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 13 weeks running.

Over the last 10 years the share price moved +1,510% while the S&P 500 moved +261%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 7 August 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Enphase Energy, Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes.

Enphase Energy is on one of our US lists: US tech stocks.

Enphase Energy, Inc. earned $36.1 M of net profit in the Jun 2026 quarter, −2.6% on the same quarter a year earlier. Full-year FY25 profit was $172 M. Over 4 years profit has grown 4.3% a year on average. That is 12.4% of the quarter's revenue. The same quarter a year earlier earned $37.1 M.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

2 of the last 12 reported quarters were loss-making.

For the full year, FY25 profit was $172 M (+67.7% on the year before).

Why profit moved: revenue changed −19.6% on a year earlier and the margin moved +6.9 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed −29.9% and revenue −10.7%. Profit is growing slower than sales: rising costs are taking part of the growth.

Enphase Energy, Inc. reported $292 M of revenue in the Jun 2026 quarter, −19.6% on the same quarter a year earlier. Over 4 years it has grown 1.6% a year on average. The last full year, FY25, came in at $1.5 B. The last four reported quarters add to $1.3 B.

Revenue is everything the company billed its customers in the period.

FY25 revenue was $1.5 B, +10.7% on the year before.

Recent pace: the last four quarters grew −10.7% on average, against 1.6% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −10.4%, against −3.3% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −23.3%, against +1.7% a year (rolling over).

Enphase Energy, Inc.'s operating margin was 18.0% in the Jun 2026 quarter, 6.9 percentage points higher than the same quarter a year ago. Across 5 years it has been between 6.8% and 20.1%. The latest quarter is within that range.

Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +6.9 percentage points on the year while gross margin changed +7.6 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 189% of Enphase Energy, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $137 M of operating cash against $172 M of profit. After $40.6 M of spending on assets, $95.9 M was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.

What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.

Enphase Energy, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $185 M on assets over the last 3 years. Averaged over those years that is 4.2% of FY25 revenue a year.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.

Spending on assets: $185 M over the last 3 years.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Enphase Energy, Inc.'s P/E is 46.3×, with too little history to compare. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved +71.9% while the price moved +4.4%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 3 years the price moved −26.9% a year; about −36.6% a year came from earnings growth and about +9.7 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple.

Enphase Energy, Inc.'s business is getting worse. Revenue, profit and EPS growth are shrinking: revenue growth is −10.4% in the latest quarter, against +34.4% at its best in 12 quarters, with ROCE falling at 5.3%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the stock price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Enphase Energy, Inc. earned a ROE of 16% in FY25. That is up from a low of 12% in FY24. Its return on capital used (ROIC) is 10.3 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses.

Return on equity (ROE) is the profit the business earns on its shareholders’ money. We do not have the full capital split, so ROE is the longest history we can draw here.

It comes from a 11.7% net margin and 0.42× asset turnover (sales divided by assets).

Why the return is what it is (FY25): a 11.7% net margin × 0.42× asset turnover × 3.23× leverage (assets divided by equity) ≈ 15.9% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 1.3% − 11.6% = −10.3 percentage points. The 11.6% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

The 1.3% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 20.4%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.