# Enphase Energy, Inc. (ENPH) · Edgar & Edgarette company card

> Enphase Energy (ENPH) grew revenue 10.7% in FY2025 to $1.5 billion, operating margin 10.7% against a 2.4% median for semiconductors & related devices, equity 31.0% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1463101 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/ENPH) · [JSON](https://www.pops4.com/boards/company/ENPH.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $1.5B |
| Revenue growth, 1 year | 10.7% |
| Revenue growth per year | 1.6% |
| Operating margin | 10.7% (prior year 5.8%) |
| Net margin | 11.7% |
| Operating cash flow | $137M |
| Capital spending | $41M |
| Free cash flow | $96M |
| Cash | $474M |
| Long-term debt | $1.2B |
| Total assets | $3.5B |
| Total equity | $1.1B |
| Equity ÷ assets | 31.0% |
| Return on equity | 15.8% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 3.1 (safe zone)
- Piotroski F: 6 of 9 (solid)
- Beneish M: -2.39 (below the −1.78 line)
- Health Harbor boat: Weathered boat · two warning signs · slow and jumpy: growing slower than its size class, with revenue that swings more; revenue is hard to predict: its 80% range is ±45%
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $1.5B (FY2025), total debt $1.2B. Experience: revenue up 10.7% on the year, up 1.6% a year over 4 years; operating margin 10.7%, up from 5.8%. Soundness: equity 31.0% of assets, return on equity 15.8%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $874.8M and $2.3B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $615.9M to $3.2B. A statistical range, not company guidance. Against peers (63 filers, $50M+ revenue, semiconductors & related devices): operating margin 10.7% against a 2.4% median; growth 10.7% against 15.5%.

Range logged 2026-09-24, receipt d598a76936800e7d, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-06-15 ([filing](https://www.sec.gov/Archives/edgar/data/1463101/000146310126000055/0001463101-26-000055-index.htm))

## Recent filings

- 8-K · filed 2026-10-29 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1463101/000146310126000104/0001463101-26-000104-index.htm)
- 10-Q · filed 2026-10-27 · [filing](https://www.sec.gov/Archives/edgar/data/1463101/000146310126000102/0001463101-26-000102-index.htm)
- 8-K · filed 2026-10-27 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1463101/000146310126000101/0001463101-26-000101-index.htm)
- 8-K · filed 2026-08-10 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1463101/000146310126000092/0001463101-26-000092-index.htm)
- 10-Q · filed 2026-07-28 · [filing](https://www.sec.gov/Archives/edgar/data/1463101/000146310126000081/0001463101-26-000081-index.htm)
- 8-K · filed 2026-07-28 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1463101/000146310126000080/0001463101-26-000080-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001463101.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1463101

## Cite

POPS4, Edgar & Edgarette: Enphase Energy, Inc. (ENPH) company card, from the company's own SEC filings, accessed 2026-11-07, https://www.pops4.com/boards/company/ENPH. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.