Enphase Energy (ENPH) Financial Ratios: P/E, ROE & More

Enphase Energy (ENPH) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Enphase Energy had a P/E ratio of 24.36 (down from 90.39), return on equity of 17.9% (up from 11.3%), debt-to-equity of 1.14 (down from 1.60) and a current ratio of 2.06 (down from 3.52). A current ratio of 2.06 means current assets exceed current liabilities.

Enphase Energy Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	24.36	90.39	40.98	90.63	169.69	165.44
Forward P/E	15.57	20.07	39.24	52.35	66.66	103.35
P/S Ratio	2.85	6.97	7.85	15.45	17.86	28.63
P/B Ratio	3.86	11.14	18.29	43.62	57.38	45.80
Price/Tangible Book	5.04	16.68	26.64	73.01	178.13	52.09
Price/FCF	43.73	19.33	30.68	51.57	82.33	113.23
Price/OCF	30.72	18.06	25.82	48.35	70.11	102.47
PEG Ratio	25.25	0.82	1.70	1.08	1.79	-
Enterprise Value Ratios
EV/Revenue	2.68	6.65	7.65	15.40	17.60	28.26
EV/EBITDA	16.53	54.24	32.68	70.18	96.71	106.98
EV/EBIT	23.99	97.79	37.97	79.29	110.22	117.37
EV/FCF	41.19	18.42	29.88	51.41	81.16	111.77
Profitability & Returns
Return on Equity (ROE)	17.93%	11.30%	48.52%	63.29%	31.82%	35.44%
Return on Assets (ROA)	3.05%	1.70%	8.92%	10.96%	8.41%	12.18%
Return on Invested Capital (ROIC)	20.36%	13.46%	69.62%	80.06%	70.96%	126.71%
Return on Capital Employed (ROCE)	7.30%	3.50%	16.20%	18.50%	13.50%	28.00%
Leverage & Solvency Ratios
Debt/Equity	1.14	1.60	1.34	1.59	2.45	0.72
Debt/EBITDA	4.96	7.65	2.41	2.53	4.07	1.67
Debt/FCF	12.97	2.77	2.25	1.88	3.51	1.79
Liquidity Ratios
Current Ratio	2.06	3.52	4.59	3.55	3.33	1.75
Quick Ratio	1.44	2.82	4.11	3.27	3.13	1.65
Efficiency Ratios
Asset Turnover	0.44	0.40	0.71	0.90	0.84	0.81
Inventory Turnover	4.52	4.54	6.78	12.10	14.25	11.61
Yield & Distribution Ratios
Earnings Yield	4.10%	1.11%	2.44%	1.10%	0.59%	0.60%
FCF Yield	2.29%	5.17%	3.26%	1.94%	1.22%	0.88%
Buyback Yield	3.66%	2.29%	0.76%	-1.06%	-0.68%	-7.80%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Enphase Energy Financial Ratios

What is Enphase Energy's P/E ratio?

Enphase Energy's P/E ratio was 24.36 for fiscal 2025 (period ended Dec 31, 2025). It was 90.39 a year earlier.

What is Enphase Energy's return on equity?

Enphase Energy's return on equity (ROE) was 17.9% for fiscal 2025 (period ended Dec 31, 2025). It was 11.3% a year earlier.

What is Enphase Energy's debt-to-equity ratio?

Enphase Energy's debt-to-equity ratio was 1.14 for fiscal 2025 (period ended Dec 31, 2025). It was 1.60 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition