Enphase Energy (ENPH) valuation
Enphase Energy P/E ratio history
Enphase Energy trades at 38.3 times its earnings over the last twelve months and 17.2 times the earnings analysts expect over the next twelve. At its last 7 fiscal year ends its P/E ranged from 21.4 (year to Dec 2019) to 185.9 (year to Dec 2020), with a median of 91.6.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $32.05 | $1.29 | 24.8 | 14.0 |
| Dec 31, 2024 | $68.68 | $0.75 | 91.6 | 21.0 |
| Dec 31, 2023 | $132.14 | $3.08 | 42.9 | 30.9 |
| Dec 31, 2022 | $264.96 | $2.75 | 96.3 | 52.0 |
| Dec 31, 2021 | $182.94 | $1.02 | 179.7 | 64.8 |
| Dec 31, 2020 | $175.47 | $0.94 | 185.9 | — |
| Dec 31, 2019 | $26.13 | $1.22 | 21.4 | — |
| Dec 31, 2018 | $4.73 | -$0.12 | n/m | — |
| Dec 31, 2017 | $2.41 | -$0.54 | n/m | — |
| Dec 31, 2016 | $1.01 | -$1.35 | n/m | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Enphase Energy valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| Enphase EnergyENPH | $3.39B | 38.3 | 17.2 | 2.8 |
| Skyworks SolutionsSWKS | $13.2B | 45.1 | 15.6 | 3.3 |
| First SolarFSLR | $18.7B | 10.1 | 8.0 | 3.7 |
| ON SemiconductorON | $28.1B | 47.5 | 18.4 | 4.5 |
| Credo TechnologyCRDO | $28.2B | 53.2 | 21.0 | 17.7 |
| Microchip TechnologyMCHP | $41.9B | 113.7 | 19.9 | 8.2 |
| Astera LabsALAB | $44.3B | 128.1 | 49.6 | 36.9 |
| Monolithic Power SystemsMPWR | $59.5B | 74.0 | 30.8 | 18.2 |
| NXP SemiconductorsNXPI | $65.5B | 20.4 | 14.8 | 4.7 |
| Peer median | 50.3 | 19.1 | 6.5 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: ENPH financials · 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.