Price to Earnings (P/E)
since 2012
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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
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Calculation
Enphase Energy Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 9, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2020 | = | ÷ | = | ÷ | |||||||
| Mar 15, 2019 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 16, 2017 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2016 | = | ÷ | = | ÷ | |||||||
| Mar 4, 2015 | = | ÷ | = | ÷ | |||||||
| Mar 4, 2014 | = | ÷ | = | ÷ | |||||||
| Mar 5, 2013 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Enphase Energy Inc. Annual Report.
- Share Price Trend
- The share price demonstrated notable volatility throughout the periods observed. Initially, there was a gradual increase from $4.88 in 2013 to $13.61 in 2015, followed by a sharp decline reaching a low point of $1.37 in 2017. Subsequent years saw a significant recovery and growth, with the share price peaking at $212.57 in 2023 before declining to $122.47 in 2024. This pattern indicates substantial market fluctuations, with a pronounced upward trend from 2018 onward until 2023, after which there was a considerable correction.
- Earnings Per Share (EPS) Trend
- EPS values reflected a transition from negative to positive territory over the examined periods. Negative EPS persisted from 2013 through 2017, with the lowest EPS recorded at -$0.93 in 2013 and a slight recovery to -$0.11 in 2019. Starting in 2020, the company reported positive EPS consistently, increasing from $1.31 to $3.23 in 2024. This progression suggests an improvement in profitability, indicating successful operational or financial performance enhancements beginning around 2020.
- Price-to-Earnings (P/E) Ratio Evolution
- P/E ratio data is available from 2020 onward, displaying high valuation multiples relative to earnings. The ratio reached an elevated peak of 186.32 in 2021, followed by a decline to 37.88 in 2024. High P/E ratios in 2020 and 2021 coincide with the initial positive EPS period but suggest market optimism potentially priced in well ahead of stable earnings growth. The decline in the P/E ratio over the last two years indicates a movement toward a more moderate valuation, aligning better with the improving EPS figures.
- Overall Analysis
- The financial data indicates a company undergoing a significant turnaround from 2018 onwards, reflected in the recovery in share price and the shift from losses to profits in EPS. The high P/E ratios in the early profitable periods suggest investor expectations were initially very optimistic. The more recent share price correction and reduction in P/E ratio may represent market recalibration towards more sustainable earnings growth. This trajectory highlights improved financial performance coupled with market revaluation over the analyzed timeframe.
Comparison to Competitors
Enphase Energy Inc., P/E, long-term trends, comparison to competitors
| Enphase Energy Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 9, 2024 | ||||||||||||
| Feb 13, 2023 | ||||||||||||
| Feb 11, 2022 | ||||||||||||
| Feb 16, 2021 | ||||||||||||
| Feb 21, 2020 | ||||||||||||
| Mar 15, 2019 | ||||||||||||
| Apr 2, 2018 | ||||||||||||
| Mar 16, 2017 | ||||||||||||
| Mar 1, 2016 | ||||||||||||
| Mar 4, 2015 | ||||||||||||
| Mar 4, 2014 | ||||||||||||
| Mar 5, 2013 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Enphase Energy Inc., P/E, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Enphase Energy Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Feb 9, 2024 | ||
| Feb 13, 2023 | ||
| Feb 11, 2022 | ||
| Feb 16, 2021 | ||
| Feb 21, 2020 | ||
| Mar 15, 2019 | ||
| Apr 2, 2018 | ||
| Mar 16, 2017 | ||
| Mar 1, 2016 | ||
| Mar 4, 2015 | ||
| Mar 4, 2014 | ||
| Mar 5, 2013 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Industry (Information Technology)
Enphase Energy Inc., P/E, long-term trends, comparison to industry (information technology)
| Enphase Energy Inc. | Information Technology | |
|---|---|---|
| Feb 9, 2024 | ||
| Feb 13, 2023 | ||
| Feb 11, 2022 | ||
| Feb 16, 2021 | ||
| Feb 21, 2020 | ||
| Mar 15, 2019 | ||
| Apr 2, 2018 | ||
| Mar 16, 2017 | ||
| Mar 1, 2016 | ||
| Mar 4, 2015 | ||
| Mar 4, 2014 | ||
| Mar 5, 2013 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).