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
DateValue
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