Enphase Energy (ENPH) Net Margin (2011 - 2026)
Enphase Energy (ENPH) posted Net Margin of 12.36% for Q2 2026, up 572.61% on a QoQ basis from 2.62% in Q1 2026, and up 217.0% year-over-year from 3.9% in Q2 2025.
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Enphase Energy (ENPH) Net Margin (2011 - 2026) Analysis & Trends
Enphase Energy has reported Net Margin for 16 years, with the latest figure at 12.36% in Q2 2026.
- On a quarterly basis, Net Margin rose 217.0% year-over-year to 12.36% in Q2 2026; TTM through Jun 2026 was 10.09%, a 169.0% decrease from a year earlier, with the FY2025 full-year figure at 11.69%, up 397.0% from the prior year.
- Net Margin was 12.36% for Q2 2026 at Enphase Energy, up from 2.62% in the prior quarter.
- The five-year high for Net Margin was 22.11% in Q2 2023, with the low at 6.11% in Q1 2024.
- Average Net Margin over 5 years is 12.06%, with a median of 12.19% recorded in 2026.
- The sharpest annual moves came in 2024 and 2025: Net Margin slumped 2635 bps in 2024, then soared 1445 bps in 2025.
- Over 5 years, Net Margin stood at 21.22% in 2022, then tumbled by 67 bps to 6.92% in 2023, then soared by 135 bps to 16.24% in 2024, then plunged by 31 bps to 11.28% in 2025, then climbed by 10 bps to 12.36% in 2026.
- The last three Net Margin figures came in at 12.36% (Q2 2026), 2.62% (Q1 2026), and 11.28% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 22.21 Bn | 20.48 Bn | 605.00 Mn | 40.01% |
| 2 | Nextpower | 12.31 Bn | 11.10 Bn | 335.85 Mn | 17.68% |
| 3 | Enphase Energy | 4.89 Bn | 3.95 Bn | 175.01 Mn | 12.36% |
| 4 | Solaredge Technologies | 2.19 Bn | 1.61 Bn | 95.15 Mn | -8.88% |
| 5 | T1 Energy | 1.31 Bn | 1.10 Bn | 49.10 Mn | -17.80% |
| 6 | Shoals Technologies | 1.19 Bn | 1.17 Bn | 49.53 Mn | 7.43% |
| 7 | Canadian Solar | 878.49 Mn | -588.02 Mn | 168.48 Mn | -6.36% |
| 8 | Array Technologies | 699.32 Mn | 392.02 Mn | 99.60 Mn | 2.47% |
| 9 | JinkoSolar Holding | 609.08 Mn | -2.07 Bn | 75.62 Mn | -5.64% |
| 10 | Toyo | 132.14 Mn | 22.09 Mn | 36.97 Mn | 14.73% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.36% |
| Mar 31, 2026 | -2.62% |
| Dec 31, 2025 | 11.28% |
| Sep 30, 2025 | 16.23% |
| Jun 30, 2025 | 10.19% |
| Mar 31, 2025 | 8.34% |
| Dec 31, 2024 | 16.24% |
| Sep 30, 2024 | 12.01% |
| Jun 30, 2024 | 3.56% |
| Mar 31, 2024 | -6.11% |
| Dec 31, 2023 | 6.92% |
| Sep 30, 2023 | 20.68% |
| Jun 30, 2023 | 22.11% |
| Mar 31, 2023 | 20.23% |
| Dec 31, 2022 | 21.22% |
| Sep 30, 2022 | 18.10% |
| Jun 30, 2022 | 14.52% |
| Mar 31, 2022 | 11.74% |
| Dec 31, 2021 | 12.73% |
| Sep 30, 2021 | 6.20% |