Annual Financials for Enphase Energy, Inc. (ENPH)

20 Years of financial data for all companies
Including key metrics, annual/quarterly financials, and historic PE ratio.



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All numbers in thousands except per share items and ratios.
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Reported Currency: USD TTM 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31
Revenue 1,250,240 2,290,786 2,330,853 1,382,049 774,425 624,333 316,159 286,166 322,591 357,249 343,904 232,846 216,678 149,523 61,661 20,194
Revenue Growth - -1.72% 68.65% 78.46% 24.04% 97.47% 10.48% -11.29% -9.70% 3.88% 47.70% 7.46% 44.91% 142.49% 205.34%
Cost of Revenue 679,646 1,232,398 1,356,258 827,627 428,444 403,088 221,714 230,123 264,583 249,032 230,861 165,430 161,390 120,454 55,159 23,223
Gross Profit 570,594 1,058,388 974,595 554,422 345,981 221,245 94,445 56,043 58,008 108,217 113,043 67,416 55,288 29,069 6,502 -3,029
Gross Profit Margin 45.47% 46.20% 41.81% 40.12% 44.68% 35.44% 29.87% 19.58% 17.98% 30.29% 32.87% 28.95% 25.52% 19.44% 10.54% -15.00%
Research and Development 206,216 227,336 168,846 105,526 55,921 40,381 32,587 33,157 50,703 50,819 45,386 34,524 35,601 25,099 14,296 8,411
General and Administrative Expenses 333,552 369,627 355,104 233,064 103,621 75,536 56,133 45,347 66,228 76,707 72,086 55,050 50,848 32,682 12,923 5,254
Total Operating Expenses 540,445 612,647 523,950 338,590 159,542 115,917 88,720 78,504 116,931 127,526 117,472 89,574 86,449 57,781 27,219 13,665
Operating Income or Loss 15,335 445,741 448,261 215,832 186,439 102,729 1,596 -39,378 -62,700 -19,309 -4,429 -22,158 -31,161 -28,712 -20,717 -16,694
Operating Margin 0.09% 19.46% 19.23% 15.62% 24.07% 16.45% 0.50% -13.76% -19.44% -5.40% -1.29% -9.52% -14.38% -19.20% -33.60% -82.67%
Interest Expense 8,921 8,839 9,438 45,152 21,001 9,691 9,635 7,936 2,773 501 1,863 2,055 6,436 3,006 914 356
EBITDA 142,707 589,876 513,882 192,280 204,542 119,447 16,192 -28,401 -52,576 -9,663 2,836 -16,014 -25,563 -26,252 -19,313 -15,891
Depreciation and Amortization 81,565 67,898 52,396 26,200 18,103 14,119 9,667 9,004 10,638 10,539 8,259 6,981 5,568 3,032 1,550 803
Income Before Tax 62,687 513,139 452,048 120,928 119,410 90,114 -10,229 -45,341 -65,987 -20,703 -7,286 -25,050 -37,567 -32,290 -21,777 -16,925
Income Tax Expense 1,270 74,203 54,686 -24,521 -14,585 -71,034 1,398 -149 1,475 1,379 766 863 651 32,290 21,777 16,925
Net Income 61,417 438,936 397,362 145,449 133,995 161,148 -11,627 -45,192 -67,462 -22,082 -8,052 -25,913 -38,218 -32,290 -21,777 -16,925
Net Income Margin 4.10% 19.16% 17.05% 10.52% 17.30% 25.81% -3.68% -15.79% -20.91% -6.18% -2.34% -11.13% -17.64% -21.60% -35.32% -83.81%
EPS 0.45 3.24 2.94 1.09 1.07 1.38 -0.12 -0.54 -1.34 -0.49 -0.19 -0.62 -1.24 -0.82 -19.27 -14.98
EPS Diluted 0.44 3.08 2.77 1.02 0.95 1.23 -0.12 -0.54 -1.34 -0.49 -0.19 -0.62 -1.24 -0.82 -19.27 -14.98
Weighted Average Shares Out - 136,376 135,349 134,025 125,561 116,713 96,892 82,939 50,519 44,632 42,903 41,647 30,740 39,291 1,130 1,130
Weighted Average Shares Out Diluted - 143,290 144,390 142,878 141,918 131,644 99,619 82,939 50,519 44,632 42,903 41,647 30,740 39,291 1,130 1,130

Reported Currency: USD Q3 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31
Current Assets
Cash and Cash Equivalents 256,325 288,748 473,244 119,316 679,379 251,409 106,237 29,144 17,764 28,452 42,032 38,190 45,294 51,524 39,993 8,642
Short Term Investments 1,510,299 1,406,286 1,139,599 897,335 0 0 0 0 0 0 0 0 0 0 0 0
Cash + Short Term Investments 1,766,624 1,695,034 1,612,843 1,016,651 679,379 251,409 106,237 29,144 17,764 28,452 42,032 38,190 45,294 51,524 39,993 8,642
Net Receivables 232,225 445,959 440,896 333,626 182,165 145,413 78,938 65,346 61,019 46,099 45,119 32,084 27,743 17,771 8,024 6,369
Inventory 158,837 213,595 149,708 74,400 41,764 32,056 16,267 25,999 31,960 40,800 21,590 16,580 19,843 11,228 4,521 1,483
Other Current Assets 203,195 88,930 60,824 37,784 29,756 70,779 28,204 19,914 14,242 12,748 12,234 7,310 4,236 1,264 418 189
Total Current Assets 2,360,881 2,443,518 2,264,271 1,462,461 933,064 499,657 222,302 130,446 117,864 121,768 114,896 90,509 94,998 81,787 52,956 16,683
Non-Current Assets
Property, Plant and Equipment 176,564 188,131 132,746 96,587 60,668 39,053 20,998 26,483 31,440 32,118 30,824 24,853 25,541 18,411 6,103 3,894
Goodwill 214,292 214,562 213,559 181,254 24,783 24,783 24,783 3,664 3,664 3,745 3,745 0 0 0 0 0
Intangible Assets 51,152 68,536 99,541 97,758 28,808 30,579 35,306 515 945 2,220 1,811 3,886 2,480 0 0 0
Long Term Investments 0 0 157,768 110,625 51,986 0 0 0 0 0 0 0 0 0 0 0
Tax Assets 275,854 252,370 204,872 122,470 92,904 74,531 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 185,448 215,895 11,523 8,101 7,889 44,620 36,548 8,039 9,663 5,677 916 -2,579 -728 4,561 445 370
Total Non-Current Assets 903,310 939,494 820,009 616,795 267,038 213,566 117,635 38,701 45,712 43,760 37,296 26,160 27,293 22,972 6,548 4,264
Other Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Assets 3,264,191 3,383,012 3,084,280 2,079,256 1,200,102 713,223 339,937 169,147 163,576 165,528 152,192 116,669 122,291 104,759 59,504 20,947
Current Liabilities
Accounts Payable 112,417 116,164 125,085 113,767 72,609 57,474 48,794 28,747 31,696 25,569 22,316 7,363 11,272 12,928 6,521 4,595
Short Term Debt 106,251 5,220 96,263 89,882 330,509 6,054 28,155 17,429 13,132 17,000 0 -11,273 -16,882 3,130 2,567 178
Tax Payables 6,388 11,774 35,998 7,571 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 129,556 118,300 90,747 62,670 47,665 81,783 33,119 15,691 6,411 3,915 2,747 2,773 933 23,414 595 107
Other Current Liabilities 212,866 280,991 290,126 165,906 83,260 54,000 37,093 29,874 31,533 26,364 33,643 19,722 19,266 10,100 3,520 799
Total Current Liabilities 567,478 532,449 638,219 439,796 534,043 199,311 147,161 91,741 82,772 72,848 58,706 33,365 33,855 50,971 13,203 5,679
Non-Current Liabilities
Long Term Debt 1,200,261 1,293,738 1,199,465 963,514 4,898 102,659 81,628 32,322 20,768 0 0 5,170 8,677 10,148 4,336 233
Deferred Revenue 354,210 369,172 281,613 187,186 125,473 100,204 76,911 29,941 33,893 25,115 16,612 11,284 7,537 3,670 1,044 175
Deferred Tax 0 0 0 53,982 34,653 27,020 23,211 22,389 22,818 0 0 25,490 15,260 0 0 0
Other Non-Current Liabilities 210,869 204,029 139,410 58,592 51,695 38,837 26,461 24,269 24,843 26,116 29,922 26,644 15,567 6,878 2,440 1,233
Total Non-Current Liabilities 1,765,340 1,866,939 1,620,488 1,209,292 182,066 241,700 185,000 86,532 79,504 51,231 46,534 43,098 31,781 20,696 7,820 1,641
Total Liabilities 2,332,818 2,399,388 2,258,707 1,649,088 716,109 441,011 332,161 178,273 162,276 124,079 105,240 76,463 65,636 71,667 21,023 7,320
Common Stock 1 1 1 1 1 1 1 1 1 0 0 0 0 0 0 0
Retained Earnings -104,927 46,273 17,335 -405,737 -51,186 -185,181 -346,302 -295,727 -250,535 -183,073 -160,991 -152,939 -127,026 -91,802 -56,518 -34,741
Accumulated Other Comprehensive Income/Loss 3,263 -1,988 -10,882 -2,020 434 -923 742 -656 -292 -210 -79 229 52 83 0 0
Total Stockholders Equity 931,373 983,624 825,573 430,168 483,993 272,212 7,776 -9,126 1,300 41,449 46,952 40,206 56,655 33,092 38,481 13,627
Total Investments 1,510,299 1,406,286 1,139,599 897,335 51,986 0 0 0 0 0 0 0 0 0 0 0
Total Debt 1,306,512 1,298,958 1,290,357 1,037,646 330,865 105,543 109,783 49,751 33,900 17,000 0 8,677 11,061 14,677 6,903 411
Net Debt 1,050,187 1,010,210 817,113 918,330 -348,514 -145,866 3,546 20,607 16,136 -11,452 -42,032 -29,513 -34,233 -36,847 -33,090 -8,231

Reported Currency: USD TTM 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31
Cash Flows from Operating Activities
Net Income 61,417 438,936 397,362 145,449 133,995 161,148 -11,627 -45,192 -67,462 -22,082 -8,052 -25,913 -38,218 -32,290 -21,777 -16,925
Depreciation & Amortization 81,565 74,708 58,775 32,439 17,225 14,119 9,667 9,004 10,638 10,539 8,259 6,981 5,568 3,032 1,550 803
Deferred Income Tax -32,697 -43,348 3,633 -31,241 -17,117 -73,375 123 -1,394 651 642 960 967 668 32,417 24 0
Stock Based Compensation 214,752 212,857 216,802 114,286 42,503 20,176 11,432 6,727 10,326 12,696 9,740 6,849 4,766 2,120 829 180
Change in Working Capital 15,042 17,130 62,126 15,063 -23,775 1,425 1,524 -2,811 7,102 -23,315 12,832 9,815 -22,206 24,488 1,243 -3,269
Accounts Receivable 314,727 -12,478 -107,556 -151,160 -34,321 -68,745 -13,515 -4,803 -18,017 -2,482 -13,746 -5,226 -11,040 -9,874 -1,655 -5,691
Inventory 15,277 -63,887 -75,273 -29,258 -9,708 -15,789 9,732 5,961 8,840 -19,210 -5,010 3,263 -8,615 -6,708 -3,038 -700
Accounts Payable -197,417 -22,149 133,416 117,183 35,695 22,200 23,082 -8,070 9,764 -6,013 28,833 7,641 16,774 15,627 4,579 3,014
Other Working Capital -117,545 115,644 111,539 78,298 -15,441 63,759 -17,775 4,101 6,515 4,390 2,755 4,137 -19,325 25,443 1,357 108
Other Non-Cash Items 129,763 -3,503 6,119 76,032 63,503 15,574 5,013 5,224 5,792 360 483 429 4,777 -30,134 279 324
Net Cash Provided by Operating Activities 381,851 696,780 744,817 352,028 216,334 139,067 16,132 -28,442 -32,953 -21,160 24,222 -872 -44,645 -367 -17,852 -18,887
Cash Flows from Investing Activities
Investments in Property, Plant, and Equipment -45,615 -110,401 -46,443 -52,508 -20,558 -14,788 -4,151 -4,121 -12,845 -12,762 -13,999 -6,257 -12,990 -14,662 -3,262 -2,170
Acquisitions Net -96,112 0 -62,162 -209,083 -5,010 0 -15,000 0 1,050 0 -2,535 0 0 0 0 0
Purchases of Investments -1,429,268 -2,081,431 -923,430 -992,956 -5,010 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 1,428,546 1,840,477 660,129 35,000 0 0 0 0 0 300 0 0 0 0 0 0
Other Investing Activities 103,227 -15,000 -263,301 -931,637 5,010 0 -15,000 0 372 300 -300 0 0 0 0 48
Net Cash Used for Investing Activities -46,337 -366,355 -371,906 -1,219,547 -25,568 -14,788 -19,151 -4,121 -11,795 -12,462 -16,534 -6,257 -12,990 -14,662 -3,262 -2,122
Cash Flows from Financing Activities
Debt Repayment -7 0 0 610,263 269,117 45,245 58,048 16,342 17,089 16,850 -8,708 -2,487 -5,230 27,866 6,757 1,270
Common Stock Issued 14 0 10,370 0 79,947 34,803 19,766 26,425 16,142 4,014 5,366 2,429 58,609 1,858 0 0
Common Stock Repurchased -291,696 -409,998 -27,496 -500,000 -68,330 -8,198 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities -80,823 -106,776 -17,126 199,148 -9,109 20,605 2,800 26,955 17,286 3,714 5,366 2,429 -1,943 -3,242 45,708 24,245
Net Cash Used Provided by Financing Activities -372,526 -516,774 -17,126 309,411 191,678 65,850 80,614 43,297 34,375 20,564 -3,342 -58 51,436 26,482 52,465 25,515
Effect of Forex Changes on Cash 3,262 1,853 -1,857 -1,955 826 -257 -502 646 -315 -522 -504 83 -31 78 0 0
Net Change in Cash -33,750 -184,496 353,928 -560,063 383,270 189,872 77,093 11,380 -10,688 -13,580 3,842 -7,104 -6,230 11,531 31,351 4,506
Cash at End of Period 1,050,827 288,748 473,244 119,316 679,379 296,109 106,237 29,144 17,764 28,452 42,032 38,190 45,294 51,524 39,993 8,642
Cash at Start of Period 1,084,577 473,244 119,316 679,379 296,109 106,237 29,144 17,764 28,452 42,032 38,190 45,294 51,524 39,993 8,642 4,136
Free Cash Flow
Operating Cash Flow 381,851 696,780 744,817 352,028 216,334 139,067 16,132 -28,442 -32,953 -21,160 24,222 -872 -44,645 -367 -17,852 -18,887
Capital Expenditure -45,615 -110,401 -46,443 -52,508 -20,558 -14,788 -4,151 -4,121 -12,845 -12,762 -13,999 -6,257 -12,990 -14,662 -3,262 -2,170
Free Cash Flow 336,236 586,379 698,374 299,520 195,776 124,279 11,981 -32,563 -45,798 -33,922 10,223 -7,129 -57,635 -15,029 -21,114 -21,057