Enphase Energy (ENPH) Return on Capital Employed (2012 - 2026)
Enphase Energy's quarterly Return on Capital Employed came in at 3.64% in Q1 2026, down 321.0% year-on-year from 1.65% in Q1 2025, and down 50.23% quarter-over-quarter from 7.32% in Q4 2025.
Enphase Energy has reported Return on Capital Employed for 15 years, with the latest figure at 3.64% in Q1 2026.
- For the quarter ending Q1 2026, Return on Capital Employed fell 321.0% year-over-year to 3.64%; the trailing twelve-month figure through Mar 2026 stood at 3.64% (down 321.0% YoY), and the FY2025 full-year result was 7.44%, up 453.0% from the prior year.
- Return on Capital Employed for Q1 2026 stood at 3.64%, down from 7.32% in the prior quarter.
- The five-year high for Return on Capital Employed was 23.52% in Q2 2023, with the low at 0.46% in Q3 2024.
- Average Return on Capital Employed over 5 years is 11.63%, with a median of 9.14% recorded in 2025.
- Year-over-year, Return on Capital Employed soared 1011 bps in 2023 and tumbled 2194 bps in 2024.
- Tracing ENPH's Return on Capital Employed over 5 years: stood at 19.9% in 2022, then fell by 24 bps to 15.18% in 2023, then plunged by 80 bps to 2.98% in 2024, then jumped by 146 bps to 7.32% in 2025, then slumped by 50 bps to 3.64% in 2026.
- The last three Return on Capital Employed figures came in at 3.64% (Q1 2026), 7.32% (Q4 2025), and 9.14% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 26.65 Bn | 24.22 Bn | 486.13 Mn | 15.46% |
| 2 | Nextpower | 17.99 Bn | 16.90 Bn | 297.38 Mn | 25.15% |
| 3 | Canadian Solar | 15.11 Bn | 15.69 Bn | 124.40 Mn | 2.48% |
| 4 | Enphase Energy | 8.19 Bn | 7.26 Bn | 100.39 Mn | 3.64% |
| 5 | Solaredge Technologies | 3.80 Bn | 3.25 Bn | 68.28 Mn | -23.29% |
| 6 | Sunrun | 3.38 Bn | 4.27 Bn | 543.70 Mn | -0.26% |
| 7 | Shoals Technologies | 1.60 Bn | 1.60 Bn | 41.01 Mn | 7.88% |
| 8 | Array Technologies | 1.25 Bn | 1.05 Bn | 63.00 Mn | -4.58% |
| 9 | JinkoSolar Holding | 677.44 Mn | 2.29 Bn | 147.66 Mn | -0.08% |
| 10 | Tigo Energy | 288.14 Mn | 276.56 Mn | 10.79 Mn | 2.40% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 3.64% |
| Dec 31, 2025 | 7.32% |
| Sep 30, 2025 | 9.14% |
| Jun 30, 2025 | 8.76% |
| Mar 31, 2025 | 6.85% |
| Dec 31, 2024 | 2.98% |
| Sep 30, 2024 | 0.46% |
| Jun 30, 2024 | 3.01% |
| Mar 31, 2024 | 9.04% |
| Dec 31, 2023 | 15.18% |
| Sep 30, 2023 | 22.41% |
| Jun 30, 2023 | 23.52% |
| Mar 31, 2023 | 22.13% |
| Dec 31, 2022 | 19.90% |
| Sep 30, 2022 | 17.30% |
| Jun 30, 2022 | 13.42% |
| Mar 31, 2022 | 12.59% |
| Dec 31, 2021 | 12.59% |
| Sep 30, 2021 | 13.39% |
| Jun 30, 2021 | 14.05% |
| Mar 31, 2021 | 15.02% |
| Dec 31, 2020 | 30.46% |
| Sep 30, 2020 | 19.24% |
| Jun 30, 2020 | 16.91% |
| Mar 31, 2020 | 21.98% |
| Jun 30, 2019 | 11.38% |
| Mar 31, 2019 | 5.58% |
| Dec 31, 2018 | 0.86% |
| Sep 30, 2018 | -4.03% |
| Jun 30, 2018 | -10.99% |
| Mar 31, 2018 | -22.72% |
| Dec 31, 2017 | -48.39% |
| Sep 30, 2017 | -55.76% |
| Jun 30, 2017 | -57.87% |
| Mar 31, 2017 | -59.24% |
| Dec 31, 2016 | -71.88% |
| Sep 30, 2016 | -85.90% |
| Jun 30, 2016 | -68.08% |
| Mar 31, 2016 | -40.02% |
| Dec 31, 2015 | -19.04% |
| Sep 30, 2015 | -2.12% |
| Jun 30, 2015 | -2.48% |
| Mar 31, 2015 | -4.63% |
| Dec 31, 2014 | -4.93% |
| Sep 30, 2014 | -9.93% |
| Jun 30, 2014 | -21.55% |
| Mar 31, 2014 | -22.56% |
| Dec 31, 2013 | -26.03% |
| Sep 30, 2013 | -35.92% |
| Jun 30, 2013 | -37.33% |
| Mar 31, 2013 | -36.48% |
| Mar 31, 2012 | -62.24% |