Financials Enphase Energy, Inc.

Equities

ENPH

US29355A1079

Renewable Energy Equipment & Services

Market Closed - Nasdaq 16:00:04 2024-07-12 EDT 5-day change 1st Jan Change
119.3 USD +6.85% Intraday chart for Enphase Energy, Inc. +22.84% -9.69%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,198 22,168 24,681 36,014 17,988 16,238 - -
Enterprise Value (EV) 1 3,052 21,819 24,702 35,692 17,587 15,633 15,212 14,400
P/E ratio 21.2 x 185 x 179 x 95.7 x 42.9 x 98.8 x 34.4 x 27.2 x
Yield - - - - - - - -
Capitalization / Revenue 5.12 x 28.6 x 17.9 x 15.5 x 7.85 x 11 x 7.6 x 6.24 x
EV / Revenue 4.89 x 28.2 x 17.9 x 15.3 x 7.68 x 10.6 x 7.12 x 5.53 x
EV / EBITDA 26.1 x 107 x 68.1 x 49.3 x 23.5 x 33.9 x 18.2 x 14.4 x
EV / FCF 24.6 x 111 x 82.4 x 51.1 x 30 x 41.5 x 23.8 x 17.4 x
FCF Yield 4.07% 0.9% 1.21% 1.96% 3.33% 2.41% 4.21% 5.74%
Price to Book 11.8 x 46.8 x 56.9 x 43.4 x 19.2 x 14 x 9.42 x 6.54 x
Nbr of stocks (in thousands) 122,386 126,333 134,912 135,924 136,130 136,063 - -
Reference price 2 26.13 175.5 182.9 265.0 132.1 119.3 119.3 119.3
Announcement Date 20-02-18 21-02-09 22-02-08 23-02-07 24-02-06 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 624.3 774.4 1,382 2,331 2,291 1,470 2,137 2,604
EBITDA 1 116.8 203.7 362.6 723.8 749 460.9 835 1,001
EBIT 1 102.7 186.4 215.8 448.3 461.4 141.3 494 690.2
Operating Margin 16.45% 24.07% 15.62% 19.23% 20.14% 9.61% 23.11% 26.51%
Earnings before Tax (EBT) 1 90.11 119.4 120.9 452 513.1 202.9 566.6 752.2
Net income 1 161.1 134 145.4 397.4 438.9 172 471.3 618.9
Net margin 25.81% 17.3% 10.52% 17.05% 19.16% 11.7% 22.05% 23.77%
EPS 2 1.230 0.9500 1.020 2.770 3.080 1.208 3.471 4.382
Free Cash Flow 1 124.3 195.8 299.8 698.4 586.4 376.6 640.2 826.1
FCF margin 19.91% 25.28% 21.69% 29.96% 25.6% 25.62% 29.95% 31.73%
FCF Conversion (EBITDA) 106.36% 96.13% 82.68% 96.48% 78.29% 81.72% 76.68% 82.56%
FCF Conversion (Net income) 77.12% 146.11% 206.1% 175.75% 133.59% 219% 135.84% 133.47%
Dividend per Share 2 - - - - - - - -
Announcement Date 20-02-18 21-02-09 22-02-08 23-02-07 24-02-06 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 412.7 441.3 530.2 634.7 724.7 726 711.1 551.1 302.6 263.3 311.2 415.1 471.3 462.7 509.5
EBITDA 1 105.8 125.2 162.3 202.4 236.6 243.9 242.3 181.3 80.65 53.78 78.39 145.8 175.7 163.2 188.8
EBIT 1 57.7 61.82 94.04 135.4 157 167.7 170.3 118 4.583 -29.1 -0.3143 60.91 95.46 80.51 109.1
Operating Margin 13.98% 14.01% 17.74% 21.34% 21.66% 23.09% 23.95% 21.41% 1.51% -11.05% -0.1% 14.68% 20.25% 17.4% 21.41%
Earnings before Tax (EBT) 1 50.54 57.41 92.21 134.3 168.2 179 184.6 137.3 12.23 -11.5 16.38 74.69 110.7 104.4 131.4
Net income 1 52.59 51.82 76.98 114.8 153.8 146.9 157.2 114 20.92 -16.1 18.34 69.12 98.09 85.01 105.7
Net margin 12.74% 11.74% 14.52% 18.09% 21.22% 20.23% 22.1% 20.68% 6.91% -6.11% 5.89% 16.65% 20.81% 18.37% 20.75%
EPS 2 0.3700 0.3700 0.5400 0.8000 1.060 1.020 1.090 0.8000 0.1500 -0.1200 0.1086 0.4702 0.6758 0.6430 0.7987
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 22-02-08 22-04-26 22-07-26 22-10-25 23-02-07 23-04-25 23-07-27 23-10-26 24-02-06 24-04-23 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 21 - - - - -
Net Cash position 1 146 349 - 322 401 605 1,026 1,838
Leverage (Debt/EBITDA) - - 0.0579 x - - - - -
Free Cash Flow 1 124 196 300 698 586 377 640 826
ROE (net income / shareholders' equity) 88.7% 35.4% 9.76% 63.3% 67.8% 23.3% 38.4% 33%
ROA (Net income/ Total Assets) 23.6% 14% 8.87% 15.4% 19% 6.26% 15.1% 14.7%
Assets 1 683.2 956.7 1,640 2,582 2,315 2,748 3,119 4,222
Book Value Per Share 2 2.210 3.750 3.210 6.100 6.860 8.550 12.70 18.30
Cash Flow per Share 2 1.060 1.520 2.460 5.160 4.860 3.770 5.850 6.980
Capex 1 14.8 20.6 52.3 46.4 110 60.4 71.8 88.7
Capex / Sales 2.37% 2.65% 3.78% 1.99% 4.82% 4.11% 3.36% 3.41%
Announcement Date 20-02-18 21-02-09 22-02-08 23-02-07 24-02-06 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
39
Last Close Price
119.3 USD
Average target price
129.2 USD
Spread / Average Target
+8.25%
Consensus
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  4. Financials Enphase Energy, Inc.