Enphase Energy (ENPH) FCF Margin (2011 - 2026)
Enphase Energy (ENPH) posted quarterly FCF Margin of 8.88% for Q2 2026, up 383.0% year-over-year from 1.84% in Q2 2025, and down 69.71% quarter-over-quarter from 29.33% in Q1 2026.
Enphase Energy (ENPH) FCF Margin (2011 - 2026) Analysis & Trends
Enphase Energy's FCF Margin history runs 16 years deep, the most recent figure standing at 8.88% for Q2 2026.
- In Q2 2026, FCF Margin rose 383.0% year-over-year to 8.88%; the TTM figure through Jun 2026 stood at 11.49% (down 1367.0% YoY), while the FY2025 annual figure was 6.51%, down 2958.0% from the prior year.
- FCF Margin for Q2 2026 stood at 8.88%, down from 29.33% in the prior quarter.
- The five-year high for FCF Margin was 42.43% in Q3 2024, with the low at 1.43% in Q3 2025.
- The 5-year median for FCF Margin is 25.18% (2023), against an average of 22.84%.
- The sharpest annual moves came in 2024 and 2025: FCF Margin jumped 3652 bps in 2024, then sank 4100 bps in 2025.
- Enphase Energy's FCF Margin stood at 32.74% in 2022, then slumped by 84 bps to 5.08% in 2023, then soared by 719 bps to 41.61% in 2024, then tumbled by 74 bps to 11.02% in 2025, then slipped by 19 bps to 8.88% in 2026.
- Business Quant data shows ENPH's FCF Margin at 8.88% in Q2 2026, 29.33% in Q1 2026, and 11.02% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.03 Bn | 21.30 Bn | 605.00 Mn | -24.16% |
| 2 | Nextpower | 13.25 Bn | 12.03 Bn | 335.85 Mn | 11.25% |
| 3 | Enphase Energy | 5.07 Bn | 4.13 Bn | 175.01 Mn | 8.88% |
| 4 | Sunrun | 2.24 Bn | 2.24 Bn | 527.54 Mn | -21.89% |
| 5 | Solaredge Technologies | 1.89 Bn | 1.31 Bn | 95.15 Mn | 3.30% |
| 6 | Shoals Technologies | 1.24 Bn | 1.22 Bn | 49.53 Mn | -0.13% |
| 7 | Canadian Solar | 991.33 Mn | -596.96 Mn | 124.40 Mn | 16.54% |
| 8 | JinkoSolar Holding | 831.90 Mn | -2.48 Bn | 147.66 Mn | - |
| 9 | Array Technologies | 727.79 Mn | 420.48 Mn | 99.60 Mn | 33.22% |
| 10 | Toyo | 170.12 Mn | 93.48 Mn | 47.76 Mn | 26.64% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 8.88% |
| Mar 31, 2026 | 29.33% |
| Dec 31, 2025 | 11.02% |
| Sep 30, 2025 | 1.43% |
| Jun 30, 2025 | 5.06% |
| Mar 31, 2025 | 9.49% |
| Dec 31, 2024 | 41.61% |
| Sep 30, 2024 | 42.43% |
| Jun 30, 2024 | 38.87% |
| Mar 31, 2024 | 15.68% |
| Dec 31, 2023 | 5.08% |
| Sep 30, 2023 | 22.14% |
| Jun 30, 2023 | 31.67% |
| Mar 31, 2023 | 30.82% |
| Dec 31, 2022 | 32.74% |
| Sep 30, 2022 | 28.21% |
| Jun 30, 2022 | 36.21% |
| Mar 31, 2022 | 20.41% |
| Dec 31, 2021 | 20.34% |
| Sep 30, 2021 | 28.64% |