Enphase Energy (ENPH) Return on Invested Capital [ROIC] (2013 - 2026)
Enphase Energy's Return on Invested Capital [ROIC] came in at 5.27% for Q2 2026, down 1.79 percentage points from 7.06% a year earlier but up 0.74 percentage points from the prior quarter.
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Analysis
Enphase Energy (ENPH) Return on Invested Capital [ROIC] (2013 - 2026) Analysis & Trends
For FY2025, Enphase Energy's Return on Invested Capital [ROIC] was 5.98%, up 2.99 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of -25.28 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 2.99% in FY2024 (-14.36 pp), 17.36% in FY2023 (-4.63 pp), 21.99% in FY2022 (+3.08 pp) and 18.91% in FY2021 (-12.36 pp).
- The five-year range for quarterly Return on Invested Capital [ROIC] is 0.54% (Q3 2024) to 23.93% (Q2 2023).
- Year-over-year, Return on Invested Capital [ROIC] increased in three of the last eight quarters, with an average year-over-year change of -3.64 percentage points.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q2 2023 (a gain of 10.47 percentage points), and the weakest in Q3 2024 (a drop of 22.36 percentage points).
- Business Quant data shows ENPH's Return on Invested Capital [ROIC] at 4.53% (Q1 2026), 5.89% (Q4 2025) and 7.35% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 216.95 Bn | 178.02 Bn | 2.36 Bn | 10.65% |
| 2 | Bloom Energy | 57.07 Bn | 47.00 Bn | 417.10 Mn | 31.22% |
| 3 | First Solar | 18.48 Bn | 9.43 Bn | 605.00 Mn | 16.76% |
| 4 | Nextpower | 11.96 Bn | 7.86 Bn | 335.85 Mn | - |
| 5 | BWX Technologies | 11.65 Bn | 9.95 Bn | 202.31 Mn | 10.63% |
| 6 | Generac Holdings | 11.03 Bn | 9.86 Bn | 521.81 Mn | 7.88% |
| 7 | EnerSys | 6.03 Bn | 4.22 Bn | 313.36 Mn | 13.79% |
| 8 | Enphase Energy | 4.18 Bn | -683.79 Mn | 175.01 Mn | 5.27% |
| 9 | Mirion Technologies | 3.62 Bn | 1.51 Bn | 133.10 Mn | 1.97% |
| 10 | QuantumScape | 2.50 Bn | -1.05 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.27% |
| Mar 31, 2026 | 4.53% |
| Dec 31, 2025 | 5.89% |
| Sep 30, 2025 | 7.35% |
| Jun 30, 2025 | 7.06% |
| Mar 31, 2025 | 5.54% |
| Dec 31, 2024 | 3.02% |
| Sep 30, 2024 | 0.54% |
| Jun 30, 2024 | 3.17% |
| Mar 31, 2024 | 9.47% |
| Dec 31, 2023 | 16.64% |
| Sep 30, 2023 | 22.91% |
| Jun 30, 2023 | 23.93% |
| Mar 31, 2023 | 21.73% |
| Dec 31, 2022 | 19.63% |
| Sep 30, 2022 | 17.00% |
| Jun 30, 2022 | 13.46% |
| Mar 31, 2022 | 12.90% |
| Dec 31, 2021 | 13.74% |
| Sep 30, 2021 | 14.50% |
API Access
Enphase Energy Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=ENPH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=ENPH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();