Enphase Energy, Inc.

10-K & 10-Q Filings

Enphase Energy is a global energy technology company that delivers smart, easy-to-use solutions for managing solar generation, storage, and communication on one platform. The company's products include IQ Microinverters, IQ Batteries, and other energy management solutions. Enphase Energy's strategy is to build best-in-class home energy systems and deliver them to homeowners through installer and distribution partners, with a focus on a comprehensive digital platform, expanding market share worldwide, increasing power and efficiency, reducing cost per watt, and focusing on the homeowner, distributor, and installer partners. The company's products are designed to maximize energy production, simplify design and installation, and improve system uptime and reliability. Enphase Energy's website is [www.enphase.com], and its ticker symbol is ENPH.

12 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$216.68
232.85
343.90
357.25
322.59
286.17
316.16
626.85
776.58
1382.74
2344.51
2360.51
739.06
283.05
24.25%-61.70%Cost of Revenue (-)
$161.39
165.43
230.86
249.03
264.58
230.12
221.71
403.09
428.44
827.63
1356.26
1232.40
399.64
167.54
20.30%-58.08%Gross Profit (+)
$55.29
67.42
113.04
108.22
58.01
56.04
94.44
221.25
345.98
554.42
974.60
1058.39
326.37
115.51
30.78%-64.61%Selling, General & Administrative (-)
$50.85
55.05
72.09
76.71
66.23
45.35
56.13
75.54
103.62
233.06
355.10
369.63
100.89
88.49
19.76%-12.29%Research & Development (-)
$35.60
34.52
45.39
50.82
50.70
33.16
32.59
40.38
55.92
105.53
168.85
227.34
57.13
54.21
18.36%-5.11%Non-recurring Operating Expenses (-)
$
3.78
16.92
4.13
2.60
2.38
0.69
Operating Expenses (-)
$86.45
89.57
117.47
127.53
120.71
95.42
92.85
118.52
159.54
338.59
526.33
612.65
158.71
144.61
19.49%-8.88%Costs & Expenses (Total) (-)
$247.84
255.00
348.33
376.56
385.29
325.54
314.56
521.60
587.99
1166.22
1882.59
1845.04
558.35
312.15
20.02%-44.10%Operating Income/Loss (+)
$-31.16
-22.16
-4.43
-19.31
-62.70
-39.38
1.60
102.73
186.44
215.83
448.26
445.74
167.66
-29.10
-117.36%Non-operating Income/Expense (+)
$-6.41
-2.89
-2.86
-1.39
-3.29
-5.96
-11.82
-12.62
-67.03
-94.90
3.79
67.40
11.31
17.60
55.61%Interest Expense (-)
$6.44
2.06
1.86
0.50
2.77
7.94
9.63
9.69
21.00
45.15
9.44
8.84
2.16
2.20
2.93%1.86%Earnings before Tax (+)
$-37.57
-25.05
-7.29
-20.70
-65.99
-45.34
-10.23
90.11
119.41
120.93
452.05
513.14
178.97
-11.50
-106.42%Tax Expense (-)
$0.65
0.86
0.77
1.38
1.48
-0.15
1.40
-71.03
-14.59
-24.52
54.69
74.20
32.10
4.60
53.81%-85.68%Income/Loss (Continuing Operations) (+)
$-31.16
-22.16
-4.43
-19.31
-62.70
-39.38
-11.63
161.15
134.00
145.45
397.36
438.94
146.87
-16.10
-110.96%Net Income/Loss (+)
$-38.22
-25.91
-8.05
-22.08
-67.46
-45.19
-11.63
161.15
134.00
145.45
397.36
438.94
146.87
-16.10
-110.96%Net Income/Loss (Common) (+)
$-38.22
-25.91
-8.05
-22.08
-67.46
-45.19
-11.63
161.15
134.00
145.45
397.36
438.94
146.87
-16.10
-110.96%EPS (Basic)
$
1.38
1.07
1.09
2.94
3.22
1.07
-0.12
-111.21%EPS (Diluted)
$
1.23
0.95
1.02
2.77
3.08
1.02
-0.12
-111.76%Weighted Avg Shares (Basic)
30.74
41.65
42.90
44.63
50.52
82.94
99.62
116.71
125.56
134.03
135.35
136.38
136.69
135.89
14.50%-0.58%Weighted Avg Shares (Diluted)
30.74
41.65
42.90
44.63
50.52
82.94
99.62
131.64
141.92
142.88
144.39
143.29
145.99
135.89
15.02%-6.92%Cash
$45.29
38.19
42.03
28.45
17.76
29.14
106.24
296.11
679.38
119.32
473.24
288.75
286.05
253.65
18.34%-11.32%Short-term Investments
$
897.34
1139.60
1406.29
1492.35
1375.94
-7.80%Receivables
$27.74
32.08
45.12
46.10
61.02
65.35
78.94
145.41
182.16
333.63
440.90
445.96
516.11
364.36
28.72%-29.40%Inventory
$19.84
16.58
21.59
40.80
31.96
26.00
16.27
32.06
41.76
74.40
149.71
213.59
150.56
207.89
24.11%38.08%Prepaid Expenses (Current)
$2.12
3.65
6.16
6.42
7.12
9.96
20.86
26.08
29.76
37.78
60.82
88.93
67.57
100.72
40.46%49.07%Assets (Current)
$95.00
90.51
114.90
121.77
117.86
130.45
222.30
499.66
933.06
1462.46
2264.27
2443.52
2512.63
2302.57
34.34%-8.36%Property, Plant & Equipment (Net)
$25.54
24.85
30.82
32.12
31.44
26.48
21.00
39.05
60.67
96.59
132.75
188.13
154.91
178.18
19.91%15.02%Goodwill & Intangibles
$
5.56
5.96
4.61
4.18
60.09
55.36
53.59
279.01
313.10
283.10
306.64
276.25
-9.91%Other Assets
$1.75
1.31
0.92
5.68
9.66
8.04
36.55
119.15
152.78
241.20
374.16
468.26
406.67
475.98
66.20%17.04%Assets (Non-current)
$27.29
26.16
37.30
43.76
45.71
38.70
117.64
213.57
267.04
616.79
820.01
939.49
868.22
930.41
37.95%7.16%Assets (Total)
$122.29
116.67
152.19
165.53
163.58
169.15
339.94
713.22
1200.10
2079.26
3084.28
3383.01
3380.85
3232.98
35.23%-4.37%Accounts Payable
$30.54
27.09
48.35
44.86
54.63
51.19
77.80
104.57
149.15
271.68
421.02
378.08
502.84
306.14
25.70%-39.12%Debt (Current)
$2.38
3.51
17.00
13.13
17.43
28.16
2.88
325.97
86.05
90.89
92.11
97.26
5.59%Other Liabilities (Current)
$0.93
2.77
10.35
10.99
15.01
23.12
41.20
91.86
58.92
82.06
126.30
154.37
134.33
150.69
59.11%12.18%Liabilities (Current)
$33.85
33.37
58.71
72.85
82.77
91.74
147.16
199.31
534.04
439.80
638.22
532.45
729.29
554.10
28.47%-24.02%Debt (Non-current)
$8.68
5.17
20.77
32.32
81.63
102.66
4.90
951.59
1199.46
1293.74
1200.28
1198.60
57.61%-0.14%Other Liabilities
$23.10
37.93
46.53
51.23
58.74
54.21
103.37
139.04
177.17
257.70
421.02
573.20
481.19
557.56
33.90%15.87%Liabilities (Non-current)
$31.78
43.10
46.53
51.23
79.50
86.53
185.00
241.70
182.07
1209.29
1620.49
1866.94
1681.47
1756.16
44.82%4.44%Liabilities (Total)
$65.64
76.46
105.24
124.08
162.28
178.27
332.16
441.01
716.11
1649.09
2258.71
2399.39
2410.76
2310.26
38.70%-4.17%Retained Earnings
$-127.03
-152.94
-160.99
-183.07
-250.53
-295.73
-346.30
-185.18
-51.19
-405.74
17.34
46.27
164.21
-11.82
-107.20%AOCI
$0.05
0.23
-0.08
-0.21
-0.29
-0.66
0.74
-0.92
0.43
-2.02
-10.88
-1.99
-6.73
-6.77
-0.58%Shareholder's Equity
$56.66
40.21
46.95
41.45
1.30
-9.13
7.78
272.21
483.99
430.17
825.57
983.62
970.09
922.72
29.63%-4.88%Liabilities & Equity
$122.29
116.67
152.19
165.53
163.58
169.15
339.94
713.22
1200.10
2079.26
3084.28
3383.01
3380.85
3232.98
35.23%-4.37%Net Income/Loss
$-38.22
-25.91
-8.05
-22.08
-67.46
-45.19
-11.63
161.15
134.00
145.45
397.36
438.94
146.87
-16.10
-110.96%Depreciation & Amortization
$10.34
7.41
8.74
10.70
10.78
10.68
12.37
20.20
36.93
76.83
64.31
67.53
11.08
25.09
18.60%126.54%Increase/Decrease in Working Capital
$22.21
-10.02
-5.82
15.89
-6.02
-0.39
1.31
71.95
41.77
-15.06
-62.13
-17.13
-46.37
11.60
125.01%Share-based Compensation
$4.77
6.85
9.74
12.70
10.33
6.73
11.43
20.18
42.50
114.29
216.80
212.86
59.66
60.83
41.25%1.97%Adjustments to Reconcile Net Income
$-6.43
25.04
32.27
0.92
34.51
16.75
27.76
-22.08
82.34
206.58
347.45
257.84
99.36
65.30
-34.28%Net Cash (Operating)
$-44.65
-0.87
24.22
-21.16
-32.95
-28.44
16.13
139.07
216.33
352.03
744.82
696.78
246.23
49.20
-80.02%Capital Expenditure
$12.99
6.26
16.23
13.06
11.79
4.12
19.15
14.79
20.56
288.16
108.60
110.40
22.48
7.37
21.48%-67.21%Net Cash (Investing)
$-12.99
-6.26
-16.53
-12.46
-11.79
-4.12
-19.15
-14.79
-25.57
-1219.55
-371.91
-366.36
-363.53
17.73
104.88%Increase/Decrease in Debt
$-4.20
-2.49
-8.71
17.00
-6.90
-10.10
58.05
-45.85
-2.58
-1.69
-0.00
Increase/Decrease in Equity
$55.64
2.43
5.37
3.86
17.29
26.96
22.57
34.80
79.95
-271.72
10.37
-396.13
0.04
-40.81
-102125.00%Interest Expenses
$1.68
1.39
1.39
0.36
2.70
5.82
6.34
2.69
1.88
0.73
0.46
0.46
-11.20%Net Cash (Financing)
$51.44
-0.06
-3.34
20.56
34.38
43.30
80.61
65.85
191.68
309.41
-17.13
-516.77
-71.81
-100.85
-40.46%Cash Taxes Paid
$
0.90
0.47
0.59
1.15
0.91
0.78
1.75
3.45
4.82
33.17
74.71
Effect of Exchange Rate
$-0.03
0.08
-0.50
-0.52
-0.32
0.65
-0.50
-0.26
0.83
-1.96
-1.86
1.85
1.90
-1.18
-161.82%Increase/Decrease in Cash
$-6.23
-7.10
3.84
-13.58
-10.69
11.38
77.09
189.87
383.27
-560.06
353.93
-184.50
-187.20
-35.10
81.25%Cash (Beginning)
$51.52
45.29
38.19
42.03
28.45
17.76
29.14
106.24
296.11
679.38
119.32
473.24
473.24
288.75
22.34%-38.99%Cash (Ending)
$45.29
38.19
42.03
28.45
17.76
29.14
106.24
296.11
679.38
119.32
473.24
288.75
286.05
253.65
18.34%-11.32%NOPAT
$-30.62
-21.36
-4.14
-18.75
-61.61
-39.51
1.48
183.71
209.21
259.60
415.37
380.85
137.59
-17.46
-112.69%Gross Margin %
25.52%
28.95%
32.87%
30.29%
17.98%
19.58%
29.87%
35.29%
44.55%
40.10%
41.57%
44.84%
44.16%
40.81%
Operating Margin %
-14.38%
-9.52%
-1.29%
-5.40%
-19.44%
-13.76%
0.50%
16.39%
24.01%
15.61%
19.12%
18.88%
22.69%
-10.28%
NOPAT Margin %
-14.13%
-9.17%
-1.20%
-5.25%
-19.10%
-13.81%
0.47%
29.31%
26.94%
18.77%
17.72%
16.13%
18.62%
-6.17%
Net Margin %
-17.64%
-11.13%
-2.34%
-6.18%
-20.91%
-15.79%
-3.68%
25.71%
17.25%
10.52%
16.95%
18.59%
19.87%
-5.69%
Tax Rate %
1.73%
3.59%
6.48%
2.87%
1.74%
-0.33%
7.58%
-78.83%
-12.21%
-20.28%
7.34%
14.56%
17.94%
39.99%
ROA
-25.04%
-18.31%
-2.72%
-11.33%
-37.67%
-23.36%
0.43%
25.76%
17.43%
12.49%
13.47%
11.26%
4.07%
-0.54%
ROE
-54.05%
-53.13%
-8.82%
-45.25%
-4739.31%
432.91%
18.97%
67.49%
43.23%
60.35%
50.31%
38.72%
14.18%
-1.89%
ROIC
-46.46%
-29.68%
-4.60%
-17.13%
-67.13%
-40.38%
1.13%
87.42%
78.36%
41.34%
49.01%
38.07%
19.66%
-2.26%
Asset Turnover
1.77
2.00
2.26
2.16
1.97
1.69
0.93
0.88
0.65
0.67
0.76
0.70
0.22
0.09
Inventory Turnover
8.13
9.98
10.69
6.10
8.28
8.85
13.63
12.57
10.26
11.12
9.06
5.77
2.65
0.81
Equity Multiplier
2.16
2.90
3.24
3.99
125.83
-18.53
43.72
2.62
2.48
4.83
3.74
3.44
3.49
3.50
Current Ratio
2.81
2.71
1.96
1.67
1.42
1.42
1.51
2.51
1.75
3.33
3.55
4.59
3.45
4.16
Quick Ratio
2.16
2.11
1.48
1.02
0.95
1.03
1.26
2.22
1.61
3.07
3.22
4.02
3.15
3.60
Debt/Equity Ratio
0.20
0.22
0.41
26.08
-5.45
14.12
0.39
0.68
2.41
1.56
1.32
1.33
1.40
Interest Coverage Ratio
-18.54
-15.93
-3.19
-53.94
-23.19
-6.77
0.25
38.20
99.43
294.45
985.19
979.65
Working Capital/Sales
0.19
0.20
0.16
0.20
0.17
0.23
0.16
0.18
0.20
0.18
0.17
0.22
0.32
1.13
R&D/Sales
0.16
0.15
0.13
0.14
0.16
0.12
0.10
0.06
0.07
0.08
0.07
0.10
0.08
0.19
Total Payout
$-49.76
1.45
4.73
-20.51
-7.68
-11.04
-74.27
13.74
-75.50
274.14
-9.91
396.58
-0.04
40.81
102130.00%Payout Ratio %
-162.49%
6.78%
114.22%
-109.34%
-12.47%
-27.94%
-5035.05%
7.48%
-36.09%
105.60%
-2.39%
104.13%
-0.03%
233.70%