Enphase Energy (ENPH) EBITDA Margin (2011 - 2026)
Enphase Energy (ENPH) recorded quarterly EBITDA Margin of 10.48% in Q1 2026, down 260.33% quarter-over-quarter from 6.54% in Q4 2025, and down 1944.0% on a YoY basis from 0.57% in Q1 2025.
Enphase Energy (ENPH) EBITDA Margin (2011 - 2026) Analysis & Trends
Enphase Energy's EBITDA Margin history runs 16 years deep, the most recent figure standing at 10.48% for Q1 2026.
- In Q1 2026, EBITDA Margin fell 1944.0% year-over-year to 10.48%; the TTM figure through Mar 2026 stood at 6.86% (down 286.0% YoY), while the FY2025 annual figure was 10.69%, up 488.0% from the prior year.
- EBITDA Margin was 10.48% for Q1 2026 at Enphase Energy, down from 6.54% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 23.95% in Q2 2023 to a low of 11.05% in Q1 2024.
- Historically, EBITDA Margin has averaged 11.06% across 5 years, with a median of 14.01% in 2022.
- The sharpest annual moves came in 2024 and 2025: EBITDA Margin slumped 3414 bps in 2024, then soared 2001 bps in 2025.
- A 5-year view of EBITDA Margin shows it stood at 21.66% in 2022, then tumbled by 116 bps to 3.38% in 2023, then surged by 523 bps to 14.32% in 2024, then tumbled by 54 bps to 6.54% in 2025, then tumbled by 260 bps to 10.48% in 2026.
- The last three EBITDA Margin figures came in at 10.48% (Q1 2026), 6.54% (Q4 2025), and 16.12% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 28.68 Bn | 26.25 Bn | 486.13 Mn | 33.07% |
| 2 | Nextpower | 18.03 Bn | 16.93 Bn | 297.38 Mn | 17.44% |
| 3 | Enphase Energy | 7.16 Bn | 6.23 Bn | 100.39 Mn | -10.48% |
| 4 | Solaredge Technologies | 3.68 Bn | 3.13 Bn | 68.28 Mn | -17.73% |
| 5 | Sunrun | 3.02 Bn | 3.91 Bn | 543.70 Mn | -6.02% |
| 6 | Shoals Technologies | 1.75 Bn | 1.75 Bn | 41.01 Mn | 7.06% |
| 7 | Array Technologies | 1.19 Bn | 987.00 Mn | 63.00 Mn | 4.26% |
| 8 | JinkoSolar Holding | 596.69 Mn | 2.20 Bn | 147.66 Mn | -4.78% |
| 9 | Tigo Energy | 209.39 Mn | 197.82 Mn | 10.79 Mn | -9.56% |
| 10 | Skycorp Solar | 110.38 Mn | 103.60 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -10.48% |
| Dec 31, 2025 | 6.54% |
| Sep 30, 2025 | 16.12% |
| Jun 30, 2025 | 10.19% |
| Mar 31, 2025 | 8.96% |
| Dec 31, 2024 | 14.32% |
| Sep 30, 2024 | 13.07% |
| Jun 30, 2024 | 0.59% |
| Mar 31, 2024 | -11.05% |
| Dec 31, 2023 | -3.38% |
| Sep 30, 2023 | 21.41% |
| Jun 30, 2023 | 23.95% |
| Mar 31, 2023 | 23.09% |
| Dec 31, 2022 | 21.66% |
| Sep 30, 2022 | 21.34% |
| Jun 30, 2022 | 17.74% |
| Mar 31, 2022 | 14.01% |
| Dec 31, 2021 | 13.98% |
| Sep 30, 2021 | 10.63% |
| Jun 30, 2021 | 18.79% |