Enphase Energy (ENPH) Invested Capital (2011 - 2026)
Enphase Energy (ENPH) recorded Invested Capital of $1.75 billion in Q2 2026, down 15.8% from $2.08 billion a year earlier but up 4.8% from the prior quarter.
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Analysis
Enphase Energy (ENPH) Invested Capital (2011 - 2026) Analysis & Trends
For FY2025, Enphase Energy reported Invested Capital of $2.29 billion, up 7.3% from FY2024.
- Annual Invested Capital has a five-year compound annual growth rate of 23.0% (FY2020 to FY2025).
- Across earlier years, Invested Capital came in at $2.14 billion in FY2024 (-6.2%), $2.28 billion in FY2023 (+7.6%), $2.12 billion in FY2022 (+44.2%) and $1.47 billion in FY2021 (+80.1%).
- Quarterly Invested Capital has ranged from $1.47 billion in Q4 2021 to $2.31 billion in Q3 2023 over the past five years.
- On a year-over-year basis, Invested Capital rose in 1 of the last eight quarters, with an average decline of 6.3%.
- Peak year-over-year performance for Invested Capital in the last five years was growth of 115.6% in Q3 2021, against a decline of 16.8% in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $1.67 billion (Q1 2026), $2.29 billion (Q4 2025) and $2.2 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.99 Bn | 214.06 Bn | 2.36 Bn | 15.91 Bn |
| 2 | Bloom Energy | 81.25 Bn | 73.07 Bn | 355.57 Mn | 1.64 Bn |
| 3 | First Solar | 18.82 Bn | 9.78 Bn | 605.00 Mn | 10.36 Bn |
| 4 | BWX Technologies | 12.55 Bn | 10.85 Bn | 202.31 Mn | 3.35 Bn |
| 5 | Generac Holdings | 12.21 Bn | 11.04 Bn | 521.81 Mn | 4.21 Bn |
| 6 | Nextpower | 11.82 Bn | 7.71 Bn | 335.85 Mn | - |
| 7 | EnerSys | 6.67 Bn | 4.86 Bn | 313.36 Mn | 3.01 Bn |
| 8 | Enphase Energy | 4.36 Bn | -500.13 Mn | 175.01 Mn | 1.75 Bn |
| 9 | Mirion Technologies | 3.45 Bn | 1.34 Bn | 133.10 Mn | 2.32 Bn |
| 10 | Nuscale Power | 3.24 Bn | 3.19 Bn | -152,000.00 | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.75 Bn |
| Mar 31, 2026 | 1.67 Bn |
| Dec 31, 2025 | 2.29 Bn |
| Sep 30, 2025 | 2.20 Bn |
| Jun 30, 2025 | 2.08 Bn |
| Mar 31, 2025 | 2.01 Bn |
| Dec 31, 2024 | 2.14 Bn |
| Sep 30, 2024 | 2.23 Bn |
| Jun 30, 2024 | 2.18 Bn |
| Mar 31, 2024 | 2.22 Bn |
| Dec 31, 2023 | 2.28 Bn |
| Sep 30, 2023 | 2.31 Bn |
| Jun 30, 2023 | 2.27 Bn |
| Mar 31, 2023 | 2.26 Bn |
| Dec 31, 2022 | 2.12 Bn |
| Sep 30, 2022 | 1.90 Bn |
| Jun 30, 2022 | 1.74 Bn |
| Mar 31, 2022 | 1.62 Bn |
| Dec 31, 2021 | 1.47 Bn |
| Sep 30, 2021 | 1.67 Bn |
API Access
Enphase Energy Invested Capital 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=invested-capital&ticker=ENPH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=ENPH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();