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.

• In Q1 2026, Gross Margin fell 1176.0% year-over-year to 35.49%; the TTM figure through Mar 2026 stood at 44.23% (down 368.0% YoY), while the FY2025 annual figure was 46.64%, down 65.0% from the prior year.
• Gross Margin was 35.49% for Q1 2026 at Enphase Energy, down from 44.28% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 51.81% in Q4 2024 to a low of 35.49% in Q1 2026.
• Historically, Gross Margin has averaged 44.85% across 5 years, with a median of 45.2% in 2024.
• The sharpest annual moves came in 2023 and 2026: Gross Margin surged 560 bps in 2023, then tumbled 1176 bps in 2026.
• A 5-year view of Gross Margin shows it 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.
• The last three Gross Margin figures came in at 35.49% (Q1 2026), 44.28% (Q4 2025), and 47.81% (Q3 2025), per Business Quant data.