Enphase Energy (ENPH) Net Margin (2011 - 2026)
Enphase Energy (ENPH) recorded Net Margin of 7.97% in Q3 2026, down 8.26 percentage points from 16.24% a year earlier and down 4.39 percentage points from the prior quarter.
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Analysis
Enphase Energy (ENPH) Net Margin (2011 - 2026) Analysis & Trends
On a TTM basis, Enphase Energy's Net Margin came in at 7.49% as of Sep 30, 2026, down 5.44 percentage points year-over-year; for FY2025, it came in at 11.69%, up 3.97 percentage points from FY2024.
- Annual Net Margin has a five-year change of -5.62 percentage points (FY2020 to FY2025).
- Across earlier years, Net Margin came in at 7.72% in FY2024 (-11.44 pp), 19.16% in FY2023 (+2.11 pp), 17.05% in FY2022 (+6.52 pp) and 10.52% in FY2021 (-6.78 pp).
- Quarterly Net Margin has ranged from -6.11% in Q1 2024 to 22.10% in Q2 2023 over the past five years.
- On a year-over-year basis, Net Margin rose in five of the last eight quarters, with an average year-over-year change of +1.58 percentage points.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 14.46 percentage points in Q1 2025, against a drop of 26.34 percentage points in Q1 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 12.36% (Q2 2026), -2.62% (Q1 2026) and 11.28% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 220.58 Bn | 171.68 Bn | 3.11 Bn | 10.21% |
| 2 | Bloom Energy | 56.91 Bn | 46.81 Bn | 417.10 Mn | 20.25% |
| 3 | First Solar | 20.56 Bn | 11.92 Bn | 713.06 Mn | 46.39% |
| 4 | Nextpower | 15.90 Bn | 11.61 Bn | 345.32 Mn | 14.92% |
| 5 | BWX Technologies | 11.75 Bn | 9.57 Bn | 227.14 Mn | 10.67% |
| 6 | Generac Holdings | 11.11 Bn | 9.84 Bn | 516.04 Mn | 8.44% |
| 7 | EnerSys | 5.54 Bn | 3.73 Bn | 313.36 Mn | 12.45% |
| 8 | Mirion Technologies | 4.72 Bn | 3.08 Bn | 131.50 Mn | 2.66% |
| 9 | Enphase Energy | 3.84 Bn | -474.64 Mn | 127.12 Mn | 7.97% |
| 10 | QuantumScape | 2.84 Bn | -715.25 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 7.97% |
| Jun 30, 2026 | 12.36% |
| Mar 31, 2026 | -2.62% |
| Dec 31, 2025 | 11.28% |
| Sep 30, 2025 | 16.24% |
| Jun 30, 2025 | 10.20% |
| Mar 31, 2025 | 8.35% |
| Dec 31, 2024 | 16.24% |
| Sep 30, 2024 | 12.02% |
| Jun 30, 2024 | 3.57% |
| Mar 31, 2024 | -6.11% |
| Dec 31, 2023 | 6.91% |
| Sep 30, 2023 | 20.68% |
| Jun 30, 2023 | 22.10% |
| Mar 31, 2023 | 20.23% |
| Dec 31, 2022 | 21.22% |
| Sep 30, 2022 | 18.09% |
| Jun 30, 2022 | 14.52% |
| Mar 31, 2022 | 11.74% |
| Dec 31, 2021 | 12.74% |
API Access
Enphase Energy Net Margin 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=net-margin&ticker=ENPH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=ENPH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();