Enphase Energy (ENPH) Free Cash Flow (2011 - 2026)
Enphase Energy (ENPH) posted Free Cash Flow of -$11.37 million for Q3 2026, compared with $5.89 million a year earlier.
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Analysis
Enphase Energy (ENPH) Free Cash Flow (2011 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Free Cash Flow at Enphase Energy was $135.37 million, down 37.7% year-over-year; for FY2025, it was $95.9 million, down 80.0% from FY2024.
- Annual Free Cash Flow has declined for three consecutive years, with a five-year compound annual growth rate of -13.3% (FY2020 to FY2025).
- In prior years, Enphase Energy's Free Cash Flow was $480.09 million in FY2024 (-18.1%), $586.38 million in FY2023 (-16.0%), $698.37 million in FY2022 (+133.0%) and $299.77 million in FY2021 (+53.1%).
- The Q3 2026 figure stands as the lowest quarterly Free Cash Flow since Q1 2017.
- On a year-over-year basis, Free Cash Flow increased in three of the last seven quarters, with growth averaging 120.9%.
- The strongest year-over-year quarter for Free Cash Flow in the past five years was Q4 2024, with growth of 935.6%; the weakest was Q3 2025, with a decline of 96.4%.
- According to Business Quant data, Free Cash Flow for the three prior quarters was $25.93 million (Q2 2026), $82.97 million (Q1 2026) and $37.84 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 5.41 Bn |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | -180.63 Mn |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | -197.76 Mn |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 134.98 Mn |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 150.45 Mn |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 131.74 Mn |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 204.70 Mn |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 179.90 Mn |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 47.30 Mn |
| 10 | Enphase Energy | 3.45 Bn | -863.96 Mn | 127.12 Mn | -11.37 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -11.37 Mn |
| Jun 30, 2026 | 25.93 Mn |
| Mar 31, 2026 | 82.97 Mn |
| Dec 31, 2025 | 37.84 Mn |
| Sep 30, 2025 | 5.89 Mn |
| Jun 30, 2025 | 18.37 Mn |
| Mar 31, 2025 | 33.81 Mn |
| Dec 31, 2024 | 159.23 Mn |
| Sep 30, 2024 | 161.61 Mn |
| Jun 30, 2024 | 117.43 Mn |
| Mar 31, 2024 | 41.83 Mn |
| Dec 31, 2023 | 15.38 Mn |
| Sep 30, 2023 | 122.01 Mn |
| Jun 30, 2023 | 225.24 Mn |
| Mar 31, 2023 | 223.76 Mn |
| Dec 31, 2022 | 237.29 Mn |
| Sep 30, 2022 | 179.06 Mn |
| Jun 30, 2022 | 191.96 Mn |
| Mar 31, 2022 | 90.07 Mn |
| Dec 31, 2021 | 83.97 Mn |
API Access
Enphase Energy Free Cash Flow API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=free-cash-flow&ticker=ENPH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "ticker": "ENPH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=free-cash-flow&ticker=ENPH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();