Return on Assets (ROA)
since 2012
Calculation
Enphase Energy Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss)1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 12.97% | = | 100 | × | 438,936) | ÷ | 3,383,012) |
| Dec 31, 2022 | 12.88% | = | 100 | × | 397,362) | ÷ | 3,084,280) |
| Dec 31, 2021 | 7.00% | = | 100 | × | 145,449) | ÷ | 2,079,256) |
| Dec 31, 2020 | 11.17% | = | 100 | × | 133,995) | ÷ | 1,200,102) |
| Dec 31, 2019 | 22.59% | = | 100 | × | 161,148) | ÷ | 713,223) |
| Dec 31, 2018 | -3.42% | = | 100 | × | (11,627) | ÷ | 339,937) |
| Dec 31, 2017 | -26.72% | = | 100 | × | (45,192) | ÷ | 169,147) |
| Dec 31, 2016 | -41.24% | = | 100 | × | (67,462) | ÷ | 163,576) |
| Dec 31, 2015 | -13.34% | = | 100 | × | (22,082) | ÷ | 165,528) |
| Dec 31, 2014 | -5.29% | = | 100 | × | (8,052) | ÷ | 152,192) |
| Dec 31, 2013 | -22.21% | = | 100 | × | (25,913) | ÷ | 116,669) |
| Dec 31, 2012 | -31.25% | = | 100 | × | (38,218) | ÷ | 122,291) |
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$ in thousands
- Net Income (Loss)
- The net income exhibits considerable volatility over the analyzed period. Initial years from 2012 through 2018 were predominantly characterized by losses, fluctuating with significant negative values. The lowest point occurred in 2016 with a loss of approximately 67,462 thousand US dollars. Beginning in 2019, a notable turnaround is observed, with the company achieving positive net income, which has steadily increased up to 438,936 thousand US dollars by 2023. This shift indicates a substantial improvement in profitability and operational performance in recent years.
- Total Assets
- Total assets show a consistent and substantial upward trend across the period. Starting at 122,291 thousand US dollars in 2012, assets have more than doubled between 2017 and 2019, and continued to grow significantly, reaching over 3.38 million thousand US dollars by 2023. This dramatic increase reflects considerable asset accumulation or acquisition, suggesting expansion or investment activities.
- Return on Assets (ROA)
- The return on assets percentage aligns closely with the trend in net income. Negative ROA values dominate the early years, indicating inefficient use of assets to generate profit or persistent losses. The ROA reaches its minimum in 2016 at -41.24%, which correlates with the largest net loss recorded. From 2019 onward, ROA turns positive and progressively increases, stabilizing around 12.9% in 2023. This improvement points toward enhanced asset utilization and improved profitability relative to the asset base.
- General Observations
- The overall financial trajectory suggests the company faced significant operational challenges and losses through much of the early years analyzed. However, from 2019, there is a clear and sustained recovery marked by increased net income, growing asset base, and positive return on assets. This pattern is indicative of a successful strategic shift or operational improvement, with the company increasingly leveraging its asset base to generate profits.
Comparison to Competitors
Enphase Energy Inc., ROA, 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. | Monolithic Power Systems Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 12.97% | 1.26% | 6.79% | 22.31% | 19.33% | 0.88% | 24.07% | 24.02% | -9.08% | 17.56% | 10.61% | 14.17% | 20.12% |
| Dec 31, 2022 | 12.88% | 1.95% | 5.46% | 24.41% | 15.69% | 4.40% | 26.37% | 26.78% | 13.11% | 21.26% | 22.07% | 26.39% | 32.16% |
| Dec 31, 2021 | 7.00% | 25.46% | 2.66% | 22.80% | 8.91% | 11.80% | 20.23% | 24.59% | 9.96% | 15.26% | 15.05% | 21.93% | 31.48% |
| Dec 31, 2020 | 11.17% | 27.78% | 5.69% | 16.19% | 3.90% | 13.65% | 13.11% | 15.47% | 5.01% | 13.60% | 16.15% | 14.60% | 28.91% |
| Dec 31, 2019 | 22.59% | 5.66% | 6.37% | 14.22% | 4.04% | 15.42% | 13.05% | 18.26% | 12.91% | 11.38% | 31.15% | 13.31% | 27.84% |
| Dec 31, 2018 | -3.42% | 7.40% | 7.31% | 18.64% | 24.46% | 16.45% | 14.28% | 19.08% | 32.59% | 13.27% | 27.11% | -14.88% | 32.56% |
| Dec 31, 2017 | -26.72% | 1.21% | 3.44% | 17.68% | 3.11% | 7.79% | 16.74% | 14.00% | 14.40% | 9.99% | 16.93% | 3.77% | 20.87% |
| Dec 31, 2016 | -41.24% | -14.97% | 10.81% | 11.80% | -3.48% | 9.10% | 14.20% | 7.45% | -1.00% | 10.31% | 8.33% | 10.90% | 21.88% |
| Dec 31, 2015 | -13.34% | -21.23% | 9.87% | 9.00% | 12.88% | 11.08% | 7.59% | 7.00% | 12.01% | 8.16% | 8.76% | 10.38% | 18.40% |
| Dec 31, 2014 | -5.29% | -10.70% | 9.17% | 8.14% | 2.51% | 12.73% | 10.52% | 7.91% | 13.53% | 8.89% | 6.07% | 16.40% | 15.92% |
| Dec 31, 2013 | -22.21% | -1.91% | 10.55% | 2.13% | 16.16% | 10.42% | 10.27% | 1.57% | 6.22% | 6.21% | 8.77% | 15.06% | 11.42% |
| Dec 31, 2012 | -31.25% | -29.58% | 11.59% | 0.90% | 19.67% | 13.05% | 14.82% | 2.11% | -7.20% | 5.49% | 10.46% | 14.20% | 8.79% |
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., ROA, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Enphase Energy Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2023 | 12.97% | 7.45% |
| Dec 31, 2022 | 12.88% | 12.71% |
| Dec 31, 2021 | 7.00% | 13.62% |
| Dec 31, 2020 | 11.17% | 11.81% |
| Dec 31, 2019 | 22.59% | 13.36% |
| Dec 31, 2018 | -3.42% | 17.33% |
| Dec 31, 2017 | -26.72% | 8.44% |
| Dec 31, 2016 | -41.24% | 7.07% |
| Dec 31, 2015 | -13.34% | 10.73% |
| Dec 31, 2014 | -5.29% | 12.19% |
| Dec 31, 2013 | -22.21% | 10.15% |
| Dec 31, 2012 | -31.25% | 9.50% |
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., ROA, long-term trends, comparison to industry (information technology)
| Enphase Energy Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 12.97% | 12.51% |
| Dec 31, 2022 | 12.88% | 14.57% |
| Dec 31, 2021 | 7.00% | 14.66% |
| Dec 31, 2020 | 11.17% | 11.45% |
| Dec 31, 2019 | 22.59% | 11.78% |
| Dec 31, 2018 | -3.42% | 10.94% |
| Dec 31, 2017 | -26.72% | 9.05% |
| Dec 31, 2016 | -41.24% | 9.79% |
| Dec 31, 2015 | -13.34% | 11.53% |
| Dec 31, 2014 | -5.29% | 12.37% |
| Dec 31, 2013 | -22.21% | 13.26% |
| Dec 31, 2012 | -31.25% | 14.08% |
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).