Enphase Energy (ENPH) FCF Margin (2011 - 2026)
Enphase Energy (ENPH) posted FCF Margin of 8.88% for Q2 2026, down 69.71% on a QoQ basis from 29.33% in Q1 2026, and up 383.0% year-over-year from 1.84% in Q2 2025.
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Enphase Energy (ENPH) FCF Margin (2011 - 2026) Analysis & Trends
Enphase Energy has reported FCF Margin for 16 years, with the latest figure at 8.88% in Q2 2026.
- On a quarterly basis, FCF Margin rose 383.0% year-over-year to 8.88% in Q2 2026; TTM through Jun 2026 was 11.49%, a 1367.0% decrease from a year earlier, with the FY2025 full-year figure at 6.51%, down 2958.0% from the prior year.
- FCF Margin was 8.88% for Q2 2026 at Enphase Energy, 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.
- Average FCF Margin over 5 years is 22.84%, with a median of 25.18% recorded in 2023.
- The sharpest annual moves came in 2024 and 2025: FCF Margin soared 3652 bps in 2024, then sank 4100 bps in 2025.
- Over 5 years, FCF Margin stood at 32.74% in 2022, then slumped by 84 bps to 5.08% in 2023, then surged by 719 bps to 41.61% in 2024, then tumbled by 74 bps to 11.02% in 2025, then declined by 19 bps to 8.88% in 2026.
- The last three FCF Margin figures came in at 8.88% (Q2 2026), 29.33% (Q1 2026), and 11.02% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 21.97 Bn | 20.25 Bn | 605.00 Mn | -24.16% |
| 2 | Nextpower | 12.81 Bn | 11.60 Bn | 335.85 Mn | 11.25% |
| 3 | Enphase Energy | 4.81 Bn | 3.87 Bn | 175.01 Mn | 8.88% |
| 4 | Solaredge Technologies | 2.10 Bn | 1.52 Bn | 95.15 Mn | 3.30% |
| 5 | T1 Energy | 1.29 Bn | 1.14 Bn | 49.10 Mn | -52.45% |
| 6 | Shoals Technologies | 1.20 Bn | 1.18 Bn | 49.53 Mn | -0.13% |
| 7 | Canadian Solar | 896.45 Mn | 597.20 Mn | 168.48 Mn | -0.74% |
| 8 | Array Technologies | 708.44 Mn | 401.13 Mn | 99.60 Mn | 33.22% |
| 9 | JinkoSolar Holding | 627.24 Mn | -480.04 Mn | 75.62 Mn | - |
| 10 | Toyo | 133.94 Mn | 23.90 Mn | 36.97 Mn | 43.31% |
Historic Data
Download Data
Historic 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% |