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Enphase Energy Inc (ENPH)


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Upturn Advisory Summary
10/20/2025: ENPH (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $43.08
1 Year Target Price $43.08
11 | Strong Buy |
5 | Buy |
19 | Hold |
1 | Sell |
4 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -69.09% | Avg. Invested days 15 | Today’s Advisory PASS |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.78B USD | Price to earnings Ratio 28.34 | 1Y Target Price 43.08 |
Price to earnings Ratio 28.34 | 1Y Target Price 43.08 | ||
Volume (30-day avg) 40 | Beta 1.55 | 52 Weeks Range 29.89 - 92.62 | Updated Date 10/19/2025 |
52 Weeks Range 29.89 - 92.62 | Updated Date 10/19/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 1.29 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-10-21 | When After Market | Estimate 0.63 | Actual - |
Profitability
Profit Margin 11.78% | Operating Margin (TTM) 11.1% |
Management Effectiveness
Return on Assets (TTM) 3.74% | Return on Equity (TTM) 19.8% |
Valuation
Trailing PE 28.34 | Forward PE 14.75 | Enterprise Value 4613148097 | Price to Sales(TTM) 3.22 |
Enterprise Value 4613148097 | Price to Sales(TTM) 3.22 | ||
Enterprise Value to Revenue 3.11 | Enterprise Value to EBITDA 15.5 | Shares Outstanding 130750771 | Shares Floating 126460838 |
Shares Outstanding 130750771 | Shares Floating 126460838 | ||
Percent Insiders 3.29 | Percent Institutions 94.74 |
Upturn AI SWOT
Enphase Energy Inc

Company Overview
History and Background
Enphase Energy Inc. was founded in 2006. It pioneered the microinverter-based solar energy system, transforming how solar arrays generate power. Initially focused on residential solar, it has expanded into energy storage and commercial markets.
Core Business Areas
- Microinverters: Enphase designs, develops, and manufactures microinverters that convert DC power from solar panels into AC power for use in homes and businesses.
- Energy Storage: Enphase offers energy storage systems, including batteries, that allow customers to store excess solar energy for later use or to provide backup power during grid outages.
- Software and Services: Enphase provides software and services for monitoring, controlling, and optimizing solar energy systems. These include the Enphase App and Installer Portal.
Leadership and Structure
Badri Kothandaraman is the President and CEO. The company has a typical corporate structure with departments for engineering, sales, marketing, operations, and finance.
Top Products and Market Share
Key Offerings
- IQ8 Microinverter: Enphase's flagship product, the IQ8 microinverter, converts DC power to AC at the solar panel level, improving efficiency and safety. Competitors include SolarEdge and SMA. Enphase holds a significant market share in the microinverter market; market share in 2023 was about 44%.
- Enphase Energy Storage System: Enphase's energy storage systems allow homeowners to store solar energy for backup power or self-consumption. Competitors include Tesla, Generac, and LG Chem. Revenue from energy storage contributes significantly to Enphase's overall revenue. Market share in 2023 was about 11%.
- Enphase App: The Enphase App allows homeowners to monitor their energy production and consumption. Competitors are other solar companies' monitoring apps.
Market Dynamics
Industry Overview
The solar energy industry is experiencing rapid growth due to increasing demand for renewable energy and declining costs. Government incentives and policies also support the industry's growth.
Positioning
Enphase is a leading provider of microinverter-based solar and storage solutions. Its competitive advantages include its technology, brand reputation, and distribution network.
Total Addressable Market (TAM)
The TAM for residential and commercial solar and storage is estimated to be in the hundreds of billions of dollars. Enphase is positioned to capture a significant share of this market with its innovative products and solutions.
Upturn SWOT Analysis
Strengths
- Innovative Technology
- Strong Brand Reputation
- Extensive Distribution Network
- High-Quality Products
- Strong Financial Performance
Weaknesses
- High Product Cost
- Dependence on Solar Market Growth
- Supply Chain Vulnerabilities
- Geographic Concentration of Sales
Opportunities
- Expanding into New Markets
- Developing New Products and Services
- Acquiring Complementary Businesses
- Leveraging Government Incentives
- Increasing Energy Storage Adoption
Threats
- Increased Competition
- Changes in Government Policies
- Economic Downturn
- Technological Disruption
- Supply Chain Disruptions
Competitors and Market Share
Key Competitors
- SEDG
- RUN
- FSLR
Competitive Landscape
Enphase has a strong position in the microinverter market but faces competition from other solar companies and energy storage providers. Enphase differentiates itself through its technology, brand, and distribution network.
Major Acquisitions
Cliq Energie
- Year: 2022
- Acquisition Price (USD millions): 25
- Strategic Rationale: Expand Enphase's installer network in Europe and accelerate growth in the region.
Growth Trajectory and Initiatives
Historical Growth: Enphase has experienced significant growth in recent years due to the increasing demand for solar and storage solutions.
Future Projections: Future projections vary based on analyst estimates, but the company is expected to continue to grow in the coming years.
Recent Initiatives: Recent strategic initiatives include expanding into new markets, developing new products, and acquiring complementary businesses.
Summary
Enphase is a strong company that benefits from the increasing demand for solar and storage solutions. Its innovative technology and strong brand reputation give it a competitive advantage. However, Enphase faces risks from increased competition, changes in government policies, and supply chain disruptions. It needs to diversify its sales geographically and be wary of competition.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Enphase Energy Investor Relations
- Financial Data Vendors
- Industry Reports
- Analyst Estimates
Disclaimers:
The data provided is for informational purposes only and should not be considered financial advice. Market conditions and company performance can change rapidly. Past performance is not indicative of future results.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Enphase Energy Inc
Exchange NASDAQ | Headquaters Fremont, CA, United States | ||
IPO Launch date 2012-03-30 | President, CEO & Director Mr. Badrinarayanan Kothandaraman | ||
Sector Technology | Industry Solar | Full time employees 2781 | Website https://www.enphase.com |
Full time employees 2781 | Website https://www.enphase.com |
Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control. It also provides microinverter units and related accessories; IQ Battery and related accessories; IQ Gateway and IQ Energy Router; cloud-based Enlighten monitoring service; and electric vehicle charging solutions, as well as design, proposal, permitting, and lead generation services. The company sells its solutions to solar distributors; and directly to large installers, original equipment manufacturers, strategic partners, and homeowners, as well as through its legacy product upgrade program or online store. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California.

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