Enphase Energy (ENPH) EBITDA Margin (2011 - 2026)
Enphase Energy's EBITDA Margin came in at 9.17% for Q3 2026, down 12.08 percentage points from 21.25% a year earlier and down 15.51 percentage points from the prior quarter.
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Analysis
Enphase Energy (ENPH) EBITDA Margin (2011 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Enphase Energy reported EBITDA Margin of 11.10%, down 7.17 percentage points year-over-year; for FY2025, it was 16.45%, up 3.87 percentage points from FY2024.
- EBITDA Margin carries a five-year change of -12.39 percentage points (FY2020 to FY2025).
- Going back by year, EBITDA Margin was 12.58% in FY2024 (-10.51 pp), 23.09% in FY2023 (+0.98 pp), 22.10% in FY2022 (+1.04 pp) and 21.06% in FY2021 (-7.78 pp).
- The five-year range for quarterly EBITDA Margin is -2.90% (Q1 2026) to 26.75% (Q2 2023).
- Year-over-year, EBITDA Margin increased in five of the last eight quarters, with an average year-over-year change of +1.89 percentage points.
- The fastest year-over-year change in EBITDA Margin over five years came in Q1 2025 (a gain of 17.62 percentage points), and the weakest in Q1 2024 (a drop of 28.25 percentage points).
- Business Quant data shows ENPH's EBITDA Margin at 24.68% (Q2 2026), -2.90% (Q1 2026) and 12.73% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 209.61 Bn | 160.70 Bn | 3.11 Bn | 14.50% |
| 2 | Bloom Energy | 56.09 Bn | 45.99 Bn | 417.10 Mn | 19.62% |
| 3 | First Solar | 19.82 Bn | 11.19 Bn | 713.06 Mn | 56.39% |
| 4 | Nextpower | 15.58 Bn | 11.28 Bn | 345.32 Mn | 20.06% |
| 5 | BWX Technologies | 11.75 Bn | 9.57 Bn | 227.14 Mn | 17.38% |
| 6 | Generac Holdings | 10.81 Bn | 9.54 Bn | 516.04 Mn | 19.08% |
| 7 | Innio | 10.80 Bn | 10.80 Bn | 367.70 Mn | 19.92% |
| 8 | EnerSys | 5.49 Bn | 3.69 Bn | 313.36 Mn | 19.49% |
| 9 | Mirion Technologies | 4.67 Bn | 3.03 Bn | 131.50 Mn | 20.45% |
| 10 | Enphase Energy | 3.73 Bn | -585.71 Mn | 127.12 Mn | 9.17% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 9.17% |
| Jun 30, 2026 | 24.68% |
| Mar 31, 2026 | -2.90% |
| Dec 31, 2025 | 12.73% |
| Sep 30, 2025 | 21.25% |
| Jun 30, 2025 | 15.95% |
| Mar 31, 2025 | 15.03% |
| Dec 31, 2024 | 20.29% |
| Sep 30, 2024 | 18.92% |
| Jun 30, 2024 | 8.05% |
| Mar 31, 2024 | -2.59% |
| Dec 31, 2023 | 4.21% |
| Sep 30, 2023 | 25.32% |
| Jun 30, 2023 | 26.75% |
| Mar 31, 2023 | 25.66% |
| Dec 31, 2022 | 24.16% |
| Sep 30, 2022 | 23.97% |
| Jun 30, 2022 | 20.76% |
| Mar 31, 2022 | 17.65% |
| Dec 31, 2021 | 19.29% |
API Access
Enphase Energy EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=ENPH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "ENPH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=ENPH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();