Enphase Energy, Inc. (ENPH) stock
ENPHNasdaqSemiconductors & Related DevicesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 27, 2026Score 12/3027% below fair value
$26.07−0.71 (-2.65%)
Close on Nov 13, 2026Market cap $3.45BP/E 39.5Yield –
Enphase Energy gross margin
Gross margin is gross profit as a percentage of revenue.
Enphase Energy's gross margin for the twelve months ending Sep 30, 2026 was 45.8%. For fiscal 2025 it was 46.6%, against 47.3% the year before. The highest annual figure on record is 47.3% in fiscal 2024.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 46.6% | −0.6 |
| FY2024 | Dec 31, 2024 | 47.3% | +1.1 |
| FY2023 | Dec 31, 2023 | 46.2% | +4.4 |
| FY2022 | Dec 31, 2022 | 41.8% | +1.7 |
| FY2021 | Dec 31, 2021 | 40.1% | −4.6 |
| FY2020 | Dec 31, 2020 | 44.7% | +9.2 |
| FY2019 | Dec 31, 2019 | 35.4% | +5.6 |
| FY2018 | Dec 31, 2018 | 29.9% | +10.3 |
| FY2017 | Dec 31, 2017 | 19.6% | +1.6 |
| FY2016 | Dec 31, 2016 | 18.0% | −12.3 |
| FY2015 | Dec 31, 2015 | 30.3% | −2.6 |
| FY2014 | Dec 31, 2014 | 32.9% | +3.9 |
| FY2013 | Dec 31, 2013 | 29.0% | +3.4 |
| FY2012 | Dec 31, 2012 | 25.5% | +6.1 |
| FY2011 | Dec 31, 2011 | 19.4% | +8.9 |
| FY2010 | Dec 31, 2010 | 10.5% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 43.3% | −4.5 |
| Q2 FY2026 | Jun 30, 2026 | 60.0% | +13.0 |
| Q1 FY2026 | Mar 31, 2026 | 35.5% | −11.8 |
| Q4 FY2025 | Dec 31, 2025 | 44.3% | −7.5 |
| Q3 FY2025 | Sep 30, 2025 | 47.8% | +1.0 |
| Q2 FY2025 | Jun 30, 2025 | 46.9% | +1.7 |
| Q1 FY2025 | Mar 31, 2025 | 47.2% | +3.4 |
| Q4 FY2024 | Dec 31, 2024 | 51.8% | +3.3 |
| Q3 FY2024 | Sep 30, 2024 | 46.8% | −0.8 |
| Q2 FY2024 | Jun 30, 2024 | 45.2% | −0.3 |
| Q1 FY2024 | Mar 31, 2024 | 43.9% | −1.1 |
| Q4 FY2023 | Dec 31, 2023 | 48.5% | +5.6 |
| Q3 FY2023 | Sep 30, 2023 | 47.5% | +5.3 |
| Q2 FY2023 | Jun 30, 2023 | 45.5% | +4.2 |
| Q1 FY2023 | Mar 31, 2023 | 45.0% | +4.9 |
| Q4 FY2022 | Dec 31, 2022 | 42.9% | +3.3 |
| Q3 FY2022 | Sep 30, 2022 | 42.2% | +2.3 |
| Q2 FY2022 | Jun 30, 2022 | 41.3% | +0.9 |
| Q1 FY2022 | Mar 31, 2022 | 40.1% | −0.6 |
| Q4 FY2021 | Dec 31, 2021 | 39.6% | −6.5 |
| Q3 FY2021 | Sep 30, 2021 | 39.9% | −13.3 |
| Q2 FY2021 | Jun 30, 2021 | 40.4% | +1.9 |
| Q1 FY2021 | Mar 31, 2021 | 40.7% | +1.5 |
| Q4 FY2020 | Dec 31, 2020 | 46.0% | +9.0 |
| Q3 FY2020 | Sep 30, 2020 | 53.2% | +17.3 |
| Q2 FY2020 | Jun 30, 2020 | 38.5% | +4.7 |
| Q1 FY2020 | Mar 31, 2020 | 39.2% | +6.0 |
| Q4 FY2019 | Dec 31, 2019 | 37.1% | +6.6 |
| Q3 FY2019 | Sep 30, 2019 | 35.9% | +3.5 |
| Q2 FY2019 | Jun 30, 2019 | 33.8% | +3.9 |
| Q1 FY2019 | Mar 31, 2019 | 33.3% | +7.1 |
| Q4 FY2018 | Dec 31, 2018 | 30.5% | +6.7 |
| Q3 FY2018 | Sep 30, 2018 | 32.4% | +11.0 |
| Q2 FY2018 | Jun 30, 2018 | 29.9% | +11.8 |
| Q1 FY2018 | Mar 31, 2018 | 26.2% | +13.3 |
| Q4 FY2017 | Dec 31, 2017 | 23.8% | +5.9 |
| Q3 FY2017 | Sep 30, 2017 | 21.4% | – |
| Q2 FY2017 | Jun 30, 2017 | 18.1% | – |
| Q1 FY2017 | Mar 31, 2017 | 12.9% | – |
| Q4 FY2016 | Dec 31, 2016 | 17.9% | – |
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