Enphase Energy (ENPH) Operating Margin (2011 - 2026)

Enphase Energy has reported Operating Margin for 16 years, with the latest figure at 17.65% in Q2 2026.

• On a quarterly basis, Operating Margin rose 746.0% year-over-year to 17.65% in Q2 2026; TTM through Jun 2026 was 8.32%, a 339.0% decrease from a year earlier, with the FY2025 full-year figure at 10.69%, up 488.0% from the prior year.
• Operating Margin was 17.65% for Q2 2026 at Enphase Energy, up from 10.48% in the prior quarter.
• The five-year high for Operating Margin was 23.95% in Q2 2023, with the low at 11.05% in Q1 2024.
• Average Operating Margin over 5 years is 11.43%, with a median of 14.16% recorded in 2024.
• The sharpest annual moves came in 2024 and 2025: Operating Margin sank 3414 bps in 2024, then jumped 2001 bps in 2025.
• Over 5 years, Operating Margin stood at 21.66% in 2022, then slumped by 116 bps to 3.38% in 2023, then soared by 523 bps to 14.32% in 2024, then slumped by 54 bps to 6.54% in 2025, then surged by 170 bps to 17.65% in 2026.
• The last three Operating Margin figures came in at 17.65% (Q2 2026), 10.48% (Q1 2026), and 6.54% (Q4 2025), per Business Quant data.