Skip to Content
Morningstar

Enphase Energy Inc ENPH

Morningstar Rating
Unlock
Stock XNAS Rating as of
$119.34 +1.82 (1.55%)
View Full Chart
As of Delayed Price Closed
Unlock our analysis with Morningstar Investor
Start Free Trial

Company Report

View Archive

Enphase Earnings: Channel Inventories Return to Normal on Strong Home Battery Demand

Brett Castelli

The key takeaway from Enphase's second-quarter results was that channel inventory destocking, which has weighed significantly on results in recent quarters, appears complete. Revenue and gross margin performance and guidance were broadly in line with our thinking, and we made minimal changes to our estimates. Hence, we are maintaining our $85 fair value estimate. Enphase remains near the top of our clean energy watchlist, but we view shares as slightly overvalued.

Read Full Report

Price vs Fair Value

View History
ENPH is trading at a 860% premium.
Price
$119.39
Fair Value
$17.00
Uncertainty
Very High
1-Star Price
$933.98
5-Star Price
$44.10
Economic Moat
Fvsxr
Capital Allocation
Ltmgsmqh

Bulls Say, Bears Say

Bulls

Enphase commands industry-leading gross margins and ROICs based on its high-tech product offering.

Bears

Enphase’s end markets are concentrated around the U.S. and residential end markets.

Show More
Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if ENPH is a good fit for your portfolio.
Get 7 Days Free

News

View All

Trading Information

Previous Close Price
$117.52
Day Range
$117.24–122.95
52-Week Range
$73.49–175.59
Bid/Ask
$119.06 / $119.10
Market Cap
$16.16 Bil
Volume/Avg
3.6 Mil / 4.2 Mil

Key Statistics

Price/Earnings (Normalized)
51.02
Price/Sales
11.63
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
2.18%

Company Profile

Enphase Energy is a global energy technology company. The company delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Geographically, it derives a majority of revenue from the United States.
Sector
Technology
Industry
Solar
Stock Style Box
Mid Growth
Total Number of Employees
3,157
Website
https://www.enphase.com

Competitors

Valuation

View More
Metric
ENPH
TSLA
GNRC
Price/Earnings (Normalized)
 51.0288.5928.12
Price/Book Value
 18.2810.564.07
Price/Sales
 11.638.052.44
Price/Cash Flow
 40.0456.1123.14
Price/Earnings
ENPH
TSLA
GNRC

Financial Strength

Metric
ENPH
TSLA
GNRC
Quick Ratio
 3.631.240.86
Current Ratio
 4.231.912.29
Interest Coverage
 8.9125.384.12
Quick Ratio
ENPH
TSLA
GNRC

Profitability

Metric
ENPH
TSLA
GNRC
Return on Assets (Normalized)
 27.16%14.43%6.73%
Return on Equity (Normalized)
 95.51%24.84%14.74%
Return on Invested Capital (Normalized)
 37.76%20.04%10.09%
Return on Assets
ENPH
TSLA
GNRC
See how this stock stacks up to its competitors with Morningstar Investor
Start Free Trial

Solar Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
First Solar Inc
FSLR
PkpmvqtzBgsc$24.3 Bil
 NEXTracker Inc Ordinary Shares - Class A
NXT
WcvbdmcCqzz$6.9 Bil
 Xinyi Solar Holdings Ltd
XNYIF
—Pskvr$4.2 Bil
 Xinyi Solar Holdings Ltd ADR
XISHY
—Xrgbw$4.2 Bil
 Sunrun Inc
RUN
TfppdyplkStz$4.0 Bil
 GCL Technology Holdings Ltd
GCPEF
—Xvn$3.7 Bil
 Array Technologies Inc Ordinary Shares
ARRY
—Mlcxh$1.7 Bil
 SolarEdge Technologies Inc
SEDG
CckpmrtwNhtc$1.6 Bil
 Shoals Technologies Group Inc Ordinary Shares - Class A
SHLS
VrkhjptZtvs$1.1 Bil

Sponsor Center