Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Enphase Energy Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Selected Financial Data since 2012
- Operating Profit Margin since 2012
- Total Asset Turnover since 2012
- Price to Book Value (P/BV) since 2012
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Enphase Energy Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Enphase Energy Inc., common-size consolidated income statement (quarterly data)
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Cost of Revenues
- The cost of revenues as a percentage of net revenues shows a general declining trend from 2019 through 2023, decreasing from approximately 66.7% in early 2019 to about 51.5% by the end of 2023. This suggests improvements in cost efficiency and gross margin expansion over the period.
- Gross Profit
- Gross profit margin consistently increased across the periods, moving from about 33.3% in the first quarter of 2019 to nearly 48.5% by the last quarter of 2023. This upward trend aligns with the reduction in cost of revenues and indicates strengthening profitability at the gross level.
- Research and Development Expenses
- Research and development (R&D) expenses relative to net revenues display fluctuations, generally ranging between -5.3% and -10.5% but with a significant surge to -18.3% in the fourth quarter of 2023. Prior to this peak, R&D expenses mostly maintained a mid single-digit percentage of revenues, indicating variable investment levels in innovation or product development, with a notable intensification at the end of the period.
- Sales and Marketing Expenses
- Sales and marketing expenses show a fluctuating pattern around -5.0% to -11.2%, with an increase to -17.7% in the last reported quarter of 2023. The data reflect an increase in sales and marketing investments toward the end of the timeline, possibly aiming to support revenue growth or new product launches.
- General and Administrative Expenses
- General and administrative (G&A) expenses as a percentage of net revenues experienced some volatility but tend to hover roughly between -5.0% and -9.8%, with a marked jump to -11.0% in the last quarter of 2023. Overall, G&A costs are moderate but show signs of increased overhead in the final period.
- Restructuring Charges
- Restructuring charges are minor or absent for most quarters, with occasional small charges. However, a notable spike appears in the fourth quarter of 2023 at nearly -4.9%, suggesting a significant restructuring event impacting the company's operational costs at that time.
- Operating Expenses
- Operating expenses, encompassing R&D, sales and marketing, and G&A, generally fluctuate between about -15.9% and -29.9%, with an evident rise to -51.9% in the final quarter of 2023, primarily driven by increased individual expense categories and restructuring costs. This indicates considerable pressure on operating margins during that period.
- Income from Operations
- Income from operations shows an overall positive ratio relative to net revenues for most periods, reaching a peak near 30% in late 2020. However, it declines and becomes negative (-3.4%) in the last quarter of 2023. This drop coincides with the increase in operating expenses and restructuring costs, signaling operational challenges.
- Interest Income and Expense
- Interest income steadily grows from minimal levels in early 2019 to 6.8% of net revenues by the end of 2023, indicating increased earnings from interest-bearing assets or investments. Conversely, interest expense decreases from about -3.8% in early 2019 to below -1% in later periods, with slight increases toward late 2023, suggesting reduced debt-related costs but some variability.
- Other Income (Expense), Net
- Other income or expense displays high volatility, with significant negative impacts in 2020 including a large derivative fair value loss (-47.6%) and conversions losses. The metric improves over time, exhibiting positive contributions in recent quarters (up to 7.4%), moderating the overall income volatility.
- Income Before Income Taxes
- This metric demonstrates strong positive percentages in most quarters, peaking in the range of 25.9% to 27.8% during 2020 through 2023, but dipping to 4.0% in the last quarter of 2023. This aligns with fluctuations in operating income and other income and expense factors, indicating variable pre-tax profitability.
- Income Tax Provision (Benefit)
- Income tax provisions as a percentage of net revenues are generally small and variable, fluctuating between negative and positive figures. The data suggest occasional tax benefits or provisions consistent with underlying income volatility, including a relatively higher tax provision in the last quarters of 2022 and slight recovery in early 2023.
- Net Income (Loss)
- Net income percentages exhibit a generally positive trend with some fluctuations, reaching highs above 50% in late 2019 and stabilizing between 6% and 22% through 2021 and 2022. However, net income declines to 6.9% in the last quarter of 2023, reflecting increased expenses, restructuring charges, and reduced operating income, pointing to a more challenging financial performance at the end of the period.