Enphase Energy (ENPH) Free Cash Flow (2011 - 2026)
Enphase Energy's (ENPH) quarterly Free Cash Flow came in at $90.8 million in Q1 2026, up 168.67% year-on-year from $33.8 million in Q1 2025, and up 140.04% quarter-over-quarter from $37.8 million in Q4 2025.
Enphase Energy (ENPH) Free Cash Flow (2011 - 2026) Analysis & Trends
Enphase Energy's Free Cash Flow history runs 16 years deep, the most recent figure standing at $90.8 million for Q1 2026.
- On a quarterly basis, Free Cash Flow rose 168.67% year-over-year to $90.8 million in Q1 2026; TTM through Mar 2026 was $152.9 million, a 69.11% decrease from a year earlier, with the FY2025 full-year figure at $95.9 million, down 80.92% from the prior year.
- Free Cash Flow improved to $90.8 million in Q1 2026 per ENPH's latest filing, from $37.8 million in the prior quarter.
- Across five years, Free Cash Flow topped out at $283.4 million in Q2 2023 and bottomed at -$12.4 million in Q3 2025.
- The 5-year median for Free Cash Flow is $115.6 million (2023), against an average of $123.7 million.
- Across the five-year window, Free Cash Flow jumped 414.33% in 2022 and sank 107.69% in 2025, its largest moves.
- Year by year, Free Cash Flow stood at $266.3 million in 2022, then tumbled by 56.58% to $115.6 million in 2023, then soared by 57.08% to $181.6 million in 2024, then sank by 79.17% to $37.8 million in 2025, then jumped by 140.04% to $90.8 million in 2026.
- Per Business Quant, the three latest ENPH Free Cash Flow figures stand at $90.8 million (Q1 2026), $37.8 million (Q4 2025), and -$12.4 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 22.08 Bn | 19.65 Bn | 486.13 Mn | -333.40 Mn |
| 2 | Nextpower | 15.32 Bn | 14.23 Bn | 297.38 Mn | 123.32 Mn |
| 3 | Enphase Energy | 4.98 Bn | 4.05 Bn | 100.39 Mn | 90.83 Mn |
| 4 | JinkoSolar Holding | 3.20 Bn | -107.75 Mn | 147.66 Mn | - |
| 5 | Solaredge Technologies | 2.60 Bn | 2.04 Bn | 68.28 Mn | -1.73 Mn |
| 6 | Sunrun | 2.35 Bn | 687.09 Mn | 407.49 Mn | 10.21 Mn |
| 7 | Shoals Technologies | 1.55 Bn | 1.55 Bn | 41.01 Mn | -49.10 Mn |
| 8 | Canadian Solar | 925.64 Mn | 166.07 Mn | 124.40 Mn | 201.34 Mn |
| 9 | Array Technologies | 843.55 Mn | 642.85 Mn | 63.00 Mn | -36.93 Mn |
| 10 | Toyo | 182.74 Mn | 106.10 Mn | 47.76 Mn | 38.03 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 90.83 Mn |
| Mar 31, 2026 | 90.83 Mn |
| Dec 31, 2025 | 37.84 Mn |
| Dec 31, 2025 | 37.84 Mn |
| Sep 30, 2025 | -12.42 Mn |
| Sep 30, 2025 | -12.42 Mn |
| Jun 30, 2025 | 36.68 Mn |
| Jun 30, 2025 | 36.68 Mn |
| Mar 31, 2025 | 33.81 Mn |
| Mar 31, 2025 | 33.81 Mn |
| Dec 31, 2024 | 181.64 Mn |
| Dec 31, 2024 | 181.64 Mn |
| Sep 30, 2024 | 161.61 Mn |
| Sep 30, 2024 | 161.61 Mn |
| Jun 30, 2024 | 117.95 Mn |
| Jun 30, 2024 | 117.95 Mn |
| Mar 31, 2024 | 41.30 Mn |
| Mar 31, 2024 | 41.30 Mn |
| Dec 31, 2023 | 115.64 Mn |
| Dec 31, 2023 | 115.64 Mn |