Enphase Energy (ENPH) Gross Margin (2011 - 2026)

Enphase Energy's Gross Margin history runs 16 years deep, the most recent figure standing at 35.49% for Q1 2026.

• On a quarterly basis, Gross Margin fell 1176.0% year-over-year to 35.49% in Q1 2026; TTM through Mar 2026 was 44.23%, a 368.0% decrease from a year earlier, with the FY2025 full-year figure at 46.64%, down 65.0% from the prior year.
• Gross Margin fell to 35.49% in Q1 2026 per ENPH's latest filing, from 44.28% in the prior quarter.
• Across five years, Gross Margin topped out at 51.81% in Q4 2024 and bottomed at 35.49% in Q1 2026.
• The 5-year median for Gross Margin is 45.2% (2024), against an average of 44.85%.
• Across the five-year window, Gross Margin jumped 560 bps in 2023 and tumbled 1176 bps in 2026, its largest moves.
• Year by year, Gross Margin stood at 42.88% in 2022, then increased by 13 bps to 48.47% in 2023, then rose by 7 bps to 51.81% in 2024, then fell by 15 bps to 44.28% in 2025, then declined by 20 bps to 35.49% in 2026.
• Per Business Quant, the three latest ENPH Gross Margin figures stand at 35.49% (Q1 2026), 44.28% (Q4 2025), and 47.81% (Q3 2025).