Enphase Energy, Inc. (ENPH) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Enphase Energy, Inc. Do?
Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services. It also offers AC battery storage systems; Envoy communications gateway; and Enlighten cloud-based monitoring service, as well as other accessories. The company sells its solutions to solar distributors; and directly to large installers, original equipment manufacturers, strategic partners, and homeowners, as well as through its legacy product upgrade program or online store. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California. Enphase Energy, Inc. (ENPH) is classified as a mid-cap stock in the Technology sector, specifically within the Electronic Equipment industry. The company is led by CEO Badrinarayanan Kothandaraman and employs approximately 2,820 people, headquartered in Wilmington, California. With a market capitalization of $5.0B, ENPH is one of the notable companies in the Technology sector.
Enphase Energy, Inc. (ENPH) Stock Rating — Reduce (April 2026)
As of April 2026, Enphase Energy, Inc. receives a Reduce rating with a composite score of 38.0/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.ENPH ranks #3,245 out of 4,446 stocks in our coverage universe. Within the Technology sector, Enphase Energy, Inc. ranks #379 of 584 stocks, placing it in the lower half of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
ENPH Stock Price and 52-Week Range
Enphase Energy, Inc. (ENPH) currently trades at $31.27. The stock gained $0.01 (0.0%) in the most recent trading session. The 52-week high for ENPH is $64.40, which means the stock is currently trading -51.4% from its annual peak. The 52-week low is $25.77, putting the stock 21.3% above its annual trough. Recent trading volume was 5.7M shares, reflecting moderate market activity.
Is ENPH Overvalued or Undervalued? — Valuation Analysis
Enphase Energy, Inc. (ENPH) carries a value factor score of 51/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 23.56x, compared to the Technology sector average of 45.27x — a discount of 48%. The price-to-book ratio stands at 3.88x, versus the sector average of 3.16x. The price-to-sales ratio is 2.80x, compared to 1.06x for the average Technology stock. On an enterprise value basis, ENPH trades at 29.35x EV/EBITDA, versus 12.79x for the sector.
Overall, ENPH's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
Enphase Energy, Inc. Profitability — ROE, Margins, and Quality Score
Enphase Energy, Inc. (ENPH) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 16.5%, compared to the Technology sector average of -1.4%, which is within a healthy range. Return on assets (ROA) comes in at 5.1% versus the sector average of -1.0%.
On a margin basis, Enphase Energy, Inc. reports gross margins of 47.2%, compared to 50.9% for the sector. The operating margin is 12.1% (sector: -0.5%). Net profit margin stands at 11.7%, versus -1.5% for the average Technology stock. Revenue growth is running at 35.3% on a trailing basis, compared to 14.2% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
ENPH Debt, Balance Sheet, and Financial Health
Enphase Energy, Inc. has a debt-to-equity ratio of 111.0%, compared to the Technology sector average of 43.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 2.07x, indicating strong short-term liquidity. Total debt on the balance sheet is $1.20B. Cash and equivalents stand at $402M.
ENPH has a beta of 1.24, meaning it is more volatile than the broader market — a $10,000 investment in ENPH would be expected to move 24.1% more than the S&P 500 on any given day. The stability factor score for Enphase Energy, Inc. is 31/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.
Enphase Energy, Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, Enphase Energy, Inc. reported revenue of $1.51B and earnings per share (EPS) of $1.31. Net income for the quarter was $179M. Gross margin was 47.2%. Operating income came in at $185M.
In FY 2025, Enphase Energy, Inc. reported revenue of $1.47B and earnings per share (EPS) of $1.31. Net income for the quarter was $172M. Gross margin was 46.6%. Revenue grew 10.7% year-over-year compared to FY 2024. Operating income came in at $158M.
In Q3 2025, Enphase Energy, Inc. reported revenue of $410M and earnings per share (EPS) of $0.51. Net income for the quarter was $67M. Gross margin was 47.8%. Revenue grew 7.8% year-over-year compared to Q3 2024. Operating income came in at $66M.
In Q2 2025, Enphase Energy, Inc. reported revenue of $363M and earnings per share (EPS) of $0.28. Net income for the quarter was $37M. Gross margin was 46.9%. Revenue grew 19.7% year-over-year compared to Q2 2024. Operating income came in at $37M.
Over the past 8 quarters, Enphase Energy, Inc. has demonstrated a growth trajectory, with revenue expanding from $303M to $1.51B. Investors analyzing ENPH stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
ENPH Dividend Yield and Income Analysis
Enphase Energy, Inc. (ENPH) does not currently pay a dividend. This is common among smaller companies in the Electronic Equipment industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Technology dividend stocks may want to explore other Technology stocks or use the stock screener to filter by dividend yield.
ENPH Momentum and Technical Analysis Profile
Enphase Energy, Inc. (ENPH) has a momentum factor score of 34/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 24/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 15/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
ENPH vs Competitors — Technology Sector Ranking and Peer Comparison
Within the Technology sector, Enphase Energy, Inc. (ENPH) ranks #379 out of 584 stocks based on the Blank Capital composite score. This places ENPH in the lower half of all Technology stocks in our coverage universe. Key competitors and sector peers include IHS Holding Ltd (IHS) with a score of 55.0/100, VERISIGN INC/CA (VRSN) with a score of 56.0/100, ESCO TECHNOLOGIES INC (ESE) with a score of 51.7/100, CareCloud, Inc. (CCLD) with a score of 46.9/100, and MMTec, Inc. (MTC) with a score of 47.4/100.
Comparing ENPH against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full ENPH vs S&P 500 (SPY) comparison to assess how Enphase Energy, Inc. stacks up against the broader market across all factor dimensions.
ENPH Next Earnings Date
No upcoming earnings date has been announced for Enphase Energy, Inc. (ENPH) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy ENPH? — Investment Thesis Summary
The quantitative profile for Enphase Energy, Inc. suggests caution. Momentum is weak at 34/100, a headwind for near-term performance. High volatility (stability score 31/100) increases portfolio risk.
In summary, Enphase Energy, Inc. (ENPH) earns a Reduce rating with a composite score of 38.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on ENPH stock.
Related Resources for ENPH Investors
Explore more research and tools: ENPH vs S&P 500 comparison, top Technology stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare ENPH head-to-head with peers: ENPH vs IHS, ENPH vs VRSN, ENPH vs ESE.