Enphase Energy (ENPH) Debt Ratio (2011 - 2026)
Enphase Energy (ENPH) posted Debt Ratio of 0.2 for Q2 2026, down 6.64% on a QoQ basis from 0.21 in Q1 2026, and down 65.99% year-over-year from 0.58 in Q2 2025.
Analysis
Enphase Energy (ENPH) Debt Ratio (2011 - 2026) Analysis & Trends
Enphase Energy has reported Debt Ratio for 16 years, with the latest figure at 0.2 in Q2 2026.
- On a quarterly basis, Debt Ratio fell 65.99% year-over-year to 0.2 in Q2 2026; TTM through Jun 2026 was 0.2, a 65.99% decrease from a year earlier, with the FY2025 full-year figure at 0.52, up 21.14% from the prior year.
- Debt Ratio was 0.2 for Q2 2026 at Enphase Energy, down from 0.21 in the prior quarter.
- The five-year high for Debt Ratio was 0.61 in Q1 2022, with the low at 0.2 in Q2 2026.
- Average Debt Ratio over 5 years is 0.45, with a median of 0.44 recorded in 2024.
- The sharpest annual moves came in 2025 and 2026: Debt Ratio surged 36.92% in 2025, then sank 65.99% in 2026.
- Over 5 years, Debt Ratio stood at 0.45 in 2022, then fell by 14.61% to 0.38 in 2023, then grew by 12.95% to 0.43 in 2024, then increased by 21.14% to 0.52 in 2025, then slumped by 62.5% to 0.2 in 2026.
- The last three Debt Ratio figures came in at 0.2 (Q2 2026), 0.21 (Q1 2026), and 0.52 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 21.97 Bn | 20.25 Bn | 605.00 Mn | 0.00 |
| 2 | Nextpower | 12.81 Bn | 11.60 Bn | 335.85 Mn | - |
| 3 | Enphase Energy | 4.81 Bn | 3.87 Bn | 175.01 Mn | 0.20 |
| 4 | Solaredge Technologies | 2.10 Bn | 1.52 Bn | 95.15 Mn | - |
| 5 | T1 Energy | 1.29 Bn | 1.14 Bn | 49.10 Mn | 0.37 |
| 6 | Shoals Technologies | 1.20 Bn | 1.18 Bn | 49.53 Mn | 0.19 |
| 7 | Canadian Solar | 896.45 Mn | 597.20 Mn | 168.48 Mn | 0.40 |
| 8 | Array Technologies | 708.44 Mn | 401.13 Mn | 99.60 Mn | 0.44 |
| 9 | JinkoSolar Holding | 627.24 Mn | -480.04 Mn | 75.62 Mn | 0.31 |
| 10 | Toyo | 133.94 Mn | 23.90 Mn | 36.97 Mn | 0.05 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.20 |
| Mar 31, 2026 | 0.21 |
| Dec 31, 2025 | 0.52 |
| Sep 30, 2025 | 0.55 |
| Jun 30, 2025 | 0.58 |
| Mar 31, 2025 | 0.59 |
| Dec 31, 2024 | 0.43 |
| Sep 30, 2024 | 0.43 |
| Jun 30, 2024 | 0.44 |
| Mar 31, 2024 | 0.43 |
| Dec 31, 2023 | 0.38 |
| Sep 30, 2023 | 0.39 |
| Jun 30, 2023 | 0.40 |
| Mar 31, 2023 | 0.41 |
| Dec 31, 2022 | 0.45 |
| Sep 30, 2022 | 0.51 |
| Jun 30, 2022 | 0.56 |
| Mar 31, 2022 | 0.61 |
| Dec 31, 2021 | 0.54 |
| Sep 30, 2021 | 0.50 |