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 operating margin
Operating margin is operating income as a percentage of revenue.
Enphase Energy's operating margin for the twelve months ending Sep 30, 2026 was 4.2%. For fiscal 2025 it was 10.7%, against 5.8% the year before. The highest annual figure on record is 24.1% in fiscal 2020.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 10.7% | +4.9 |
| FY2024 | Dec 31, 2024 | 5.8% | −13.6 |
| FY2023 | Dec 31, 2023 | 19.5% | +0.2 |
| FY2022 | Dec 31, 2022 | 19.2% | +3.6 |
| FY2021 | Dec 31, 2021 | 15.6% | −8.5 |
| FY2020 | Dec 31, 2020 | 24.1% | +7.6 |
| FY2019 | Dec 31, 2019 | 16.5% | +15.9 |
| FY2018 | Dec 31, 2018 | 0.5% | +14.3 |
| FY2017 | Dec 31, 2017 | -13.8% | +5.7 |
| FY2016 | Dec 31, 2016 | -19.4% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 2.2% | −13.9 |
| Q2 FY2026 | Jun 30, 2026 | 17.7% | +7.5 |
| Q1 FY2026 | Mar 31, 2026 | -10.5% | −19.4 |
| Q4 FY2025 | Dec 31, 2025 | 6.5% | −7.8 |
| Q3 FY2025 | Sep 30, 2025 | 16.1% | +3.0 |
| Q2 FY2025 | Jun 30, 2025 | 10.2% | +9.6 |
| Q1 FY2025 | Mar 31, 2025 | 9.0% | +20.0 |
| Q4 FY2024 | Dec 31, 2024 | 14.3% | +17.7 |
| Q3 FY2024 | Sep 30, 2024 | 13.1% | −8.3 |
| Q2 FY2024 | Jun 30, 2024 | 0.6% | −23.4 |
| Q1 FY2024 | Mar 31, 2024 | -11.1% | −34.1 |
| Q4 FY2023 | Dec 31, 2023 | -3.4% | −25.0 |
| Q3 FY2023 | Sep 30, 2023 | 21.4% | +0.1 |
| Q2 FY2023 | Jun 30, 2023 | 24.0% | +6.2 |
| Q1 FY2023 | Mar 31, 2023 | 23.1% | +9.1 |
| Q4 FY2022 | Dec 31, 2022 | 21.7% | +7.7 |
| Q3 FY2022 | Sep 30, 2022 | 21.3% | +10.7 |
| Q2 FY2022 | Jun 30, 2022 | 17.7% | −1.1 |
| Q1 FY2022 | Mar 31, 2022 | 14.0% | −6.3 |
| Q4 FY2021 | Dec 31, 2021 | 14.0% | −15.9 |
| Q3 FY2021 | Sep 30, 2021 | 10.6% | −18.4 |
| Q2 FY2021 | Jun 30, 2021 | 18.8% | +10.1 |
| Q1 FY2021 | Mar 31, 2021 | 20.3% | −1.4 |
| Q4 FY2020 | Dec 31, 2020 | 29.9% | +8.7 |
| Q3 FY2020 | Sep 30, 2020 | 29.0% | +10.3 |
| Q2 FY2020 | Jun 30, 2020 | 8.6% | −4.4 |
| Q1 FY2020 | Mar 31, 2020 | 21.8% | +14.6 |
| Q4 FY2019 | Dec 31, 2019 | 21.2% | +15.7 |
| Q3 FY2019 | Sep 30, 2019 | 18.7% | +19.2 |
| Q2 FY2019 | Jun 30, 2019 | 13.0% | +13.7 |
| Q1 FY2019 | Mar 31, 2019 | 7.1% | +10.7 |
| Q4 FY2018 | Dec 31, 2018 | 5.4% | +8.1 |
| Q3 FY2018 | Sep 30, 2018 | -0.5% | +7.2 |
| Q2 FY2018 | Jun 30, 2018 | -0.7% | +11.6 |
| Q1 FY2018 | Mar 31, 2018 | -3.5% | +36.8 |
| Q4 FY2017 | Dec 31, 2017 | -2.7% | +8.5 |
| Q3 FY2017 | Sep 30, 2017 | -7.7% | – |
| Q2 FY2017 | Jun 30, 2017 | -12.4% | – |
| Q1 FY2017 | Mar 31, 2017 | -40.4% | – |
| Q4 FY2016 | Dec 31, 2016 | -11.1% | – |
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