Enphase Energy (ENPH) Return on Capital Employed [ROCE] (2012 - 2026)
Enphase Energy's Return on Capital Employed [ROCE] was 2.08% in Q3 2026, down 7.05 percentage points from 9.14% a year earlier and down 2.81 percentage points from the prior quarter.
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Analysis
Enphase Energy (ENPH) Return on Capital Employed [ROCE] (2012 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at Enphase Energy came in at 7.44%, up 4.53 percentage points from FY2024.
- Return on Capital Employed [ROCE] shows a five-year change of -36.68 percentage points (FY2020 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 2.91% in FY2024 (-13.59 pp), 16.50% in FY2023 (-6.56 pp), 23.06% in FY2022 (+5.08 pp) and 17.99% in FY2021 (-26.13 pp).
- The Q3 2026 figure marks the lowest quarterly Return on Capital Employed [ROCE] since Q3 2024.
- Compared with a year earlier, Return on Capital Employed [ROCE] has declined for three straight quarters, with an average year-over-year change of -1.22 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q2 2023 (a gain of 10.11 percentage points); the worst was Q3 2024 (a drop of 21.94 percentage points).
- Per Business Quant data, ENPH's Return on Capital Employed [ROCE] in the three quarters before Q3 2026 was 4.90% (Q2 2026), 3.64% (Q1 2026) and 7.32% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 13.43% |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | 12.05% |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | 16.24% |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 23.66% |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 12.27% |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 10.55% |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 10.44% |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 16.98% |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 2.00% |
| 10 | Enphase Energy | 3.45 Bn | -863.96 Mn | 127.12 Mn | 2.08% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.08% |
| Jun 30, 2026 | 4.90% |
| 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% |
API Access
Enphase Energy Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=ENPH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=ENPH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();