Enphase Energy (ENPH) financials
Enphase Energy revenue and earnings by year
Enphase Energy's revenue was $1.47 billion in the fiscal year to December 31, 2025, up 10.7% from the year before. Net income was $172 million, 11.7% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 18.4% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.47 | 1.33 | 2.29 | 2.33 | 1.38 | 0.77 | 0.62 | 0.32 | 0.29 | 0.32 |
| Revenue growth | 10.7% | -41.9% | -1.7% | 68.7% | 78.5% | 24.0% | 97.5% | 10.5% | -11.3% | — |
| Gross profit | 0.69 | 0.63 | 1.06 | 0.97 | 0.55 | 0.35 | 0.22 | 0.09 | 0.06 | 0.06 |
| Gross margin | 46.6% | 47.3% | 46.2% | 41.8% | 40.1% | 44.7% | 35.4% | 29.9% | 19.6% | 18.0% |
| Operating income | 0.16 | 0.08 | 0.45 | 0.45 | 0.22 | 0.19 | 0.10 | 0.00 | -0.04 | -0.06 |
| Operating margin | 10.7% | 5.8% | 19.5% | 19.2% | 15.6% | 24.1% | 16.5% | 0.5% | -13.8% | -19.4% |
| Net income | 0.17 | 0.10 | 0.44 | 0.40 | 0.15 | 0.13 | 0.16 | -0.01 | -0.05 | -0.07 |
| Net margin | 11.7% | 7.7% | 19.2% | 17.0% | 10.5% | 17.3% | 25.8% | -3.7% | -15.8% | -20.9% |
| Diluted EPS | $1.29 | $0.75 | $3.08 | $2.75 | $1.02 | $0.94 | $1.22 | -$0.12 | -$0.54 | -$1.35 |
| Free cash flow | 0.10 | 0.48 | 0.59 | 0.70 | 0.30 | 0.20 | 0.12 | 0.01 | -0.03 | -0.05 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open ENPH in Markets.
See also: ENPH valuation and P/E history · ENPH returns
No forecast, no recommendation. This page describes Enphase Energy from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.