Enphase Energy (ENPH) Free Cash Flow (2011 - 2026)

Enphase Energy (ENPH) recorded quarterly Free Cash Flow of $90.8 million in Q1 2026, up 663.77% quarter-over-quarter from $11.9 million in Q4 2025, and up 105.46% on a YoY basis from $44.2 million in Q1 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.

  • In Q1 2026, Free Cash Flow rose 105.46% year-over-year to $90.8 million; the TTM figure through Mar 2026 stood at $142.5 million (down 70.46% YoY), while the FY2025 annual figure was $95.9 million, down 80.02% from the prior year.
  • Free Cash Flow was $90.8 million for Q1 2026 at Enphase Energy, up from $11.9 million in the prior quarter.
  • In the past five years, Free Cash Flow ranged from a high of $270.7 million in Q2 2023 to a low of -$58.8 million in Q4 2023.
  • Historically, Free Cash Flow has averaged $114.8 million across 5 years, with a median of $129.4 million in 2024.
  • The sharpest annual moves came in 2023 and 2024: Free Cash Flow tumbled 127.64% in 2023, then jumped 337.22% in 2024.
  • A 5-year view of Free Cash Flow shows it stood at $212.6 million in 2022, then tumbled by 127.64% to -$58.8 million in 2023, then surged by 337.22% to $139.4 million in 2024, then tumbled by 91.47% to $11.9 million in 2025, then jumped by 663.77% to $90.8 million in 2026.
  • The last three Free Cash Flow figures came in at $90.8 million (Q1 2026), $11.9 million (Q4 2025), and $13.5 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Free Cash Flow (Qtr)
1 First Solar 28.68 Bn 26.25 Bn 486.13 Mn -333.40 Mn
2 Nextpower 18.03 Bn 16.93 Bn 297.38 Mn 123.32 Mn
3 Enphase Energy 7.16 Bn 6.23 Bn 100.39 Mn 90.83 Mn
4 Solaredge Technologies 3.68 Bn 3.13 Bn 68.28 Mn -1.73 Mn
5 Sunrun 3.02 Bn 3.91 Bn 543.70 Mn 10.21 Mn
6 Shoals Technologies 1.75 Bn 1.75 Bn 41.01 Mn -41.78 Mn
7 Array Technologies 1.19 Bn 987.00 Mn 63.00 Mn -36.93 Mn
8 JinkoSolar Holding 596.69 Mn 2.20 Bn 147.66 Mn -
9 Tigo Energy 209.39 Mn 197.82 Mn 10.79 Mn -9.46 Mn
10 Skycorp Solar 110.38 Mn 103.60 Mn - -

Historic Data

Download Data
DateValue
Mar 31, 2026 90.83 Mn
Mar 31, 2026 90.83 Mn
Dec 31, 2025 11.89 Mn
Dec 31, 2025 11.89 Mn
Sep 30, 2025 13.53 Mn
Sep 30, 2025 13.53 Mn
Jun 30, 2025 26.28 Mn
Jun 30, 2025 26.28 Mn
Mar 31, 2025 44.21 Mn
Mar 31, 2025 44.21 Mn
Dec 31, 2024 139.41 Mn
Dec 31, 2024 139.41 Mn
Sep 30, 2024 169.42 Mn
Sep 30, 2024 169.42 Mn
Jun 30, 2024 129.43 Mn
Jun 30, 2024 129.43 Mn
Mar 31, 2024 41.83 Mn
Mar 31, 2024 41.83 Mn
Dec 31, 2023 -58.77 Mn
Dec 31, 2023 -58.77 Mn