Enphase Energy (ENPH) Gross Margin (2011 - 2026)
Enphase Energy (ENPH) posted quarterly Gross Margin of 59.97% for Q2 2026, up 1302.0% year-over-year from 4.28% in Q2 2025, and up 68.98% quarter-over-quarter from 35.49% in Q1 2026.
Enphase Energy (ENPH) Gross Margin (2011 - 2026) Analysis & Trends
Enphase Energy's Gross Margin history runs 16 years deep, the most recent figure standing at 59.97% for Q2 2026.
- In Q2 2026, Gross Margin rose 1302.0% year-over-year to 59.97%; the TTM figure through Jun 2026 stood at 46.95% (down 129.0% YoY), while the FY2025 annual figure was 46.64%, down 65.0% from the prior year.
- Gross Margin for Q2 2026 stood at 59.97%, up from 35.49% in the prior quarter.
- The five-year high for Gross Margin was 59.97% in Q2 2026, with the low at 35.49% in Q1 2026.
- The 5-year median for Gross Margin is 45.34% (2023), against an average of 45.69%.
- Peak annual rise in Gross Margin reached 1302 bps in 2026, while the deepest fall reached 1176 bps in 2026.
- Enphase Energy's Gross Margin stood at 42.88% in 2022, then grew by 13 bps to 48.47% in 2023, then increased by 7 bps to 51.81% in 2024, then declined by 15 bps to 44.28% in 2025, then soared by 35 bps to 59.97% in 2026.
- Business Quant data shows ENPH's Gross Margin at 59.97% in Q2 2026, 35.49% in Q1 2026, and 44.28% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.03 Bn | 21.30 Bn | 605.00 Mn | 57.28% |
| 2 | Nextpower | 13.25 Bn | 12.03 Bn | 335.85 Mn | 35.91% |
| 3 | Enphase Energy | 5.07 Bn | 4.13 Bn | 175.01 Mn | 59.97% |
| 4 | Sunrun | 2.24 Bn | 2.24 Bn | 527.54 Mn | 60.64% |
| 5 | Solaredge Technologies | 1.89 Bn | 1.31 Bn | 95.15 Mn | 27.48% |
| 6 | Shoals Technologies | 1.24 Bn | 1.22 Bn | 49.53 Mn | 30.31% |
| 7 | Canadian Solar | 991.33 Mn | -596.96 Mn | 124.40 Mn | 10.22% |
| 8 | JinkoSolar Holding | 831.90 Mn | -2.48 Bn | 147.66 Mn | 8.32% |
| 9 | Array Technologies | 727.79 Mn | 420.48 Mn | 99.60 Mn | 29.12% |
| 10 | Toyo | 170.12 Mn | 93.48 Mn | 47.76 Mn | 33.45% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 59.97% |
| Mar 31, 2026 | 35.49% |
| Dec 31, 2025 | 44.28% |
| Sep 30, 2025 | 47.81% |
| Jun 30, 2025 | 46.95% |
| Mar 31, 2025 | 47.25% |
| Dec 31, 2024 | 51.81% |
| Sep 30, 2024 | 46.78% |
| Jun 30, 2024 | 45.20% |
| Mar 31, 2024 | 43.86% |
| Dec 31, 2023 | 48.47% |
| Sep 30, 2023 | 47.55% |
| Jun 30, 2023 | 45.47% |
| Mar 31, 2023 | 44.95% |
| Dec 31, 2022 | 42.88% |
| Sep 30, 2022 | 42.21% |
| Jun 30, 2022 | 41.31% |
| Mar 31, 2022 | 40.10% |
| Dec 31, 2021 | 39.57% |
| Sep 30, 2021 | 39.93% |