Enphase Energy Financial Statements
NASDAQ: ENPHTechnologySemiconductorsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Enphase Energy revenue and earnings
In fiscal 2025, Enphase Energy generated $1.47 billion in revenue, up 10.7% from fiscal 2024. Net income was $172.1 million (+67.7% year over year), for a net margin of 11.7% versus a median of 17.0% in the prior 5 years. Gross margin was 46.6% (down from 47.3%) and operating margin 10.7%.
Diluted earnings per share came in at $1.29, up from $0.75. Over the last 5 fiscal years, ENPH's revenue has grown at a 13.7% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Enphase Energy income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.47B | 1.33B | 2.29B | 2.33B | 1.38B | 774.42M | 624.33M | 316.16M | 286.17M | 322.59M |
| Revenue growth (YoY) | +10.72% | -41.92% | -1.72% | +68.65% | +78.46% | +24.04% | +97.47% | +10.48% | -11.29% | -9.70% |
| Cost of Revenue | 785.98M | 701.25M | 1.23B | 1.36B | 827.63M | 428.44M | 403.09M | 221.71M | 230.12M | 264.58M |
| Gross Profit | 687.00M | 629.14M | 1.06B | 974.60M | 554.42M | 345.98M | 221.25M | 94.44M | 56.04M | 58.01M |
| Operating Expenses | 529.48M | 551.85M | 612.65M | 526.33M | 338.59M | 159.54M | 118.52M | 92.85M | 95.42M | 120.71M |
| Research & Development | 189.07M | 201.31M | 227.34M | 168.85M | 105.53M | 55.92M | 40.38M | 32.59M | 33.16M | 50.70M |
| Selling, General & Admin | 333.27M | 337.38M | 369.63M | 355.10M | 233.06M | 103.62M | 75.54M | 56.13M | 45.35M | 66.23M |
| Operating Income | 157.53M | 77.29M | 445.74M | 448.26M | 215.83M | 186.44M | 102.73M | 1.60M | -39.38M | -62.70M |
| Interest Expense | 4.52M | 8.90M | 8.84M | 9.44M | 45.15M | 21.00M | 9.69M | 10.69M | 8.21M | 2.77M |
| Other Income (Expense) | 47.29M | 42.87M | 67.40M | 3.79M | -94.90M | -67.03M | -12.62M | -11.82M | -5.96M | -3.29M |
| Pretax Income | 204.81M | 120.16M | 513.14M | 452.05M | 120.93M | 119.41M | 90.11M | -10.23M | -45.34M | -65.99M |
| Income Tax | 32.68M | 17.50M | 74.20M | 54.69M | -24.52M | -14.59M | -71.03M | 1.40M | -149.00K | 1.48M |
| Net Income | 172.13M | 102.66M | 438.94M | 397.36M | 145.45M | 134.00M | 161.15M | -11.63M | -45.19M | -67.46M |
| Net Income growth (YoY) | +67.68% | -76.61% | +10.46% | +173.20% | +8.55% | -16.85% | — | — | — | — |
| EPS (Basic) | 1.31 | 0.76 | 3.22 | 2.94 | 1.09 | 1.07 | 1.38 | -0.12 | -0.54 | — |
| EPS (Diluted) | 1.29 | 0.75 | 3.08 | 2.77 | 1.02 | 0.95 | 1.23 | -0.12 | -0.54 | — |
| Shares Outstanding (Basic) | 131.16M | 135.17M | 136.38M | 135.35M | 134.03M | 125.56M | 116.71M | 99.62M | 82.94M | 50.52M |
| Shares Outstanding (Diluted) | 134.89M | 140.00M | 143.29M | 144.39M | 142.88M | 141.92M | 131.64M | 99.62M | 82.94M | 50.52M |
| EBITDA | 238.17M | 158.68M | 520.45M | 507.04M | 246.68M | 204.54M | 116.85M | 11.26M | -30.37M | -52.06M |
| Gross Margin | 46.64% | 47.29% | 46.20% | 41.81% | 40.12% | 44.68% | 35.44% | 29.87% | 19.58% | 17.98% |
| Operating Margin | 10.69% | 5.81% | 19.46% | 19.23% | 15.62% | 24.07% | 16.45% | 50.00% | -13.76% | -19.44% |
| Net Margin | 11.69% | 7.72% | 19.16% | 17.05% | 10.52% | 17.30% | 25.81% | -3.68% | -15.79% | -20.91% |
This table shows 10 annual periods of Enphase Energy's income statement, from FY 2025 back to FY 2016, across 20 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow ENPH's reporting calendar. What is a income statement?