ENPH

Enphase Energy, Inc.

Ticker: ENPHTechnologySemiconductors
HQ FREMONT, CACIK 1463101FY end 12-31Book / share $8.90Shares 133M
Revenue (FY)
$1.47B+10.72%
TTM $1.33B
Op. margin
10.69%+4.88%
TTM 8.32%
Net income
$172.13M+67.68%
TTM $134.02M
Operating cash
$136.54M-73.42%
TTM $204.69M
Free cash flow
$95.90M-80.02%
TTM $152.63M
Return on equity
16.43%+2.95%
TTM 11.34%
Debt / equity
1.11-0.46%
TTM 0.48
Shares outstanding
134.9M-3.66%
TTM 132.8M

The business

Enphase Energy, Inc. (NASDAQ: ENPH) is a global energy technology company that designs, develops, manufactures and sells home energy solutions for solar generation, energy storage and energy management. The company operates through an integrated platform that combines intelligent microinverters, battery storage systems, load controllers, electric vehicle chargers and cloud-based software to create comprehensive residential and commercial energy systems. Enphase's website is www.enphase.com.

The company pioneered semiconductor-based microinverter technology that converts energy at the individual solar module level, differentiating its approach from traditional string inverter systems. As of December 31, 2025, Enphase has shipped approximately 86.4 million microinverters with more than 5.1 million residential and commercial systems deployed across over 160 countries. The company's product portfolio includes the IQ Microinverter series, IQ Battery storage systems with scalable capacity ranging from 3.4 to 10.5 kWh depending on market, IQ EV Chargers supporting up to 22 kW of three-phase charging in select markets, and the IQ PowerPack 1500 portable energy system. Additional offerings include Solargraf, a cloud-based design and proposal platform for solar and battery installations, and Enphase Care, an optional service and maintenance plan.

Enphase operates primarily in the residential and commercial markets across North America, Europe, Australia, New Zealand, India and select Asian countries. The United States represented 81 percent of net revenues in the fiscal year ended December 31, 2025. The company utilizes a distribution model selling primarily through solar distributors, installers, original equipment manufacturers and strategic partners. Manufacturing operations include contract manufacturers Flex Ltd., Salcomp Manufacturing India PVT and Sunwoda Electric Co. Ltd., supplemented by in-house manufacturing at facilities in South Carolina and Texas that commenced operations in 2025 to support domestic content requirements under the Inflation Reduction Act.

The company competes with central and string inverter manufacturers including SolarEdge Technologies, Huawei, Tesla and Sungrow, as well as battery storage and EV charger providers. Enphase emphasizes system reliability, ease of installation, advanced monitoring capabilities and integrated energy management as competitive differentiators against traditional inverter technology.

Sector
Technology
Industry
Semiconductors
HQ
FREMONT, CA
FY end
12-31
CIK
1463101
SIC
3674
Financial performance · annual
20132025
$-307.29M$412.20M$1.13B$1.85B$2.57B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds Enphase Energy, Inc. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

346
funds hold it
0 of 35
superinvestors hold it
$2.53B
fund-held value
37.8%
of shares held by funds
1
bond issues held by funds

Top fund holders

Fund% of fundValue
iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.35%$390.97M
VANGUARD INFORMATION TECHNOLOGY INDEX FUND
VGT · VANGUARD WORLD FUND
0.12%$203.84M
Invesco Solar ETF
TAN · Invesco Exchange-Traded Fund Trust II
8.75%$200.65M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%$195.66M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.07%$141.44M

Bonds held by funds

Funds report holding 1 issues of Enphase Energy, Inc.'s debt, $49.33M at fund-held market value — what funds hold, not the company's debt outstanding.

IssueCouponMaturesFundsFund-held
Enphase Energy Inc0.000%None2028-03-0111$49.33M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

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15 years of Enphase Energy, Inc.'s financials

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