Total Asset Turnover
since 2012
Calculation
Enphase Energy Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.68 | = | 2,290,786) | ÷ | 3,383,012) |
| Dec 31, 2022 | 0.76 | = | 2,330,853) | ÷ | 3,084,280) |
| Dec 31, 2021 | 0.66 | = | 1,382,049) | ÷ | 2,079,256) |
| Dec 31, 2020 | 0.65 | = | 774,425) | ÷ | 1,200,102) |
| Dec 31, 2019 | 0.88 | = | 624,333) | ÷ | 713,223) |
| Dec 31, 2018 | 0.93 | = | 316,159) | ÷ | 339,937) |
| Dec 31, 2017 | 1.69 | = | 286,166) | ÷ | 169,147) |
| Dec 31, 2016 | 1.97 | = | 322,591) | ÷ | 163,576) |
| Dec 31, 2015 | 2.16 | = | 357,249) | ÷ | 165,528) |
| Dec 31, 2014 | 2.26 | = | 343,904) | ÷ | 152,192) |
| Dec 31, 2013 | 2.00 | = | 232,846) | ÷ | 116,669) |
| Dec 31, 2012 | 1.77 | = | 216,678) | ÷ | 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 Revenues
- Net revenues exhibit a general upward trend over the analyzed period, starting at approximately $217 million and increasing significantly to over $2.29 billion by the end of 2023. There is a steady rise with some fluctuations, notably a decline between 2015 and 2017 before resuming strong growth from 2018 onward. The most pronounced growth occurs from 2019 to 2021, where revenues nearly double, followed by continued high levels in 2022 and 2023, indicating robust sales expansion in recent years.
- Total Assets
- Total assets have grown substantially from $122 million in 2012 to over $3.38 billion in 2023, representing a more than twentyfold increase across the period. This suggests significant asset accumulation, investments, or acquisitions. Growth accelerates particularly after 2017, with the asset base roughly doubling or more each year from 2017 through 2022, tapering slightly in 2023. This rapid increase signals aggressive expansion and possibly scaling in operational capacity or infrastructure.
- Total Asset Turnover
- Over the years, total asset turnover has shown a declining trend. Starting at a high ratio of 1.77 in 2012, the turnover ratio peaks in 2014 at 2.26, then progressively declines each subsequent year, reaching a low point around 0.65 in 2020 and 0.66 in 2021. Slight improvements occur in 2022 at 0.76, though it drops again to 0.68 in 2023. This decline indicates that asset utilization efficiency has decreased, meaning that for each dollar of assets, the revenue generated has been diminishing, possibly due to rapid asset growth outpacing revenue increases or shifts in asset composition toward less revenue-generating assets.
Comparison to Competitors
Enphase Energy Inc., total asset turnover, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 0.68 | 0.33 | 0.25 | 0.86 | 0.49 | 0.28 | 0.75 | 0.93 | 0.24 | 0.65 | 0.70 | 0.54 |
| Dec 31, 2022 | 0.76 | 0.35 | 0.24 | 0.96 | 0.45 | 0.35 | 0.73 | 1.00 | 0.46 | 0.61 | 0.90 | 0.74 |
| Dec 31, 2021 | 0.66 | 1.32 | 0.14 | 0.89 | 0.36 | 0.47 | 0.67 | 0.92 | 0.47 | 0.58 | 0.81 | 0.74 |
| Dec 31, 2020 | 0.65 | 1.09 | 0.26 | 0.77 | 0.31 | 0.51 | 0.63 | 0.69 | 0.40 | 0.63 | 0.66 | 0.75 |
| Dec 31, 2019 | 0.88 | 1.12 | 0.28 | 0.77 | 0.33 | 0.53 | 0.51 | 0.80 | 0.48 | 0.88 | 0.74 | 0.80 |
| Dec 31, 2018 | 0.93 | 1.42 | 0.30 | 0.97 | 0.42 | 0.55 | 0.72 | 0.89 | 0.70 | 0.86 | 0.70 | 0.92 |
| Dec 31, 2017 | 1.69 | 1.51 | 0.24 | 0.75 | 0.32 | 0.51 | 0.63 | 0.66 | 0.58 | 0.70 | 0.34 | 0.85 |
| Dec 31, 2016 | 1.97 | 1.29 | 0.43 | 0.74 | 0.26 | 0.52 | 0.60 | 0.48 | 0.45 | 0.68 | 0.45 | 0.81 |
| Dec 31, 2015 | 2.16 | 1.28 | 0.49 | 0.63 | 0.64 | 0.54 | 0.58 | 0.56 | 0.67 | 0.65 | 0.50 | 0.80 |
| Dec 31, 2014 | 2.26 | 1.46 | 0.42 | 0.69 | 0.41 | 0.61 | 0.53 | 0.58 | 0.73 | 0.57 | 0.55 | 0.74 |
| Dec 31, 2013 | 2.00 | 1.22 | 0.41 | 0.62 | 0.74 | 0.57 | 0.54 | 0.50 | 0.47 | 0.67 | 0.55 | 0.64 |
| Dec 31, 2012 | 1.77 | 1.36 | 0.48 | 0.72 | 0.83 | 0.63 | 0.62 | 0.33 | 0.57 | 0.72 | 0.44 | 0.64 |
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., total asset turnover, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Enphase Energy Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Dec 31, 2023 | 0.68 | 0.43 |
| Dec 31, 2022 | 0.76 | 0.50 |
| Dec 31, 2021 | 0.66 | 0.53 |
| Dec 31, 2020 | 0.65 | 0.51 |
| Dec 31, 2019 | 0.88 | 0.55 |
| Dec 31, 2018 | 0.93 | 0.63 |
| Dec 31, 2017 | 1.69 | 0.49 |
| Dec 31, 2016 | 1.97 | 0.50 |
| Dec 31, 2015 | 2.16 | 0.58 |
| Dec 31, 2014 | 2.26 | 0.62 |
| Dec 31, 2013 | 2.00 | 0.58 |
| Dec 31, 2012 | 1.77 | 0.60 |
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., total asset turnover, long-term trends, comparison to industry (information technology)
| Enphase Energy Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 0.68 | 0.61 |
| Dec 31, 2022 | 0.76 | 0.65 |
| Dec 31, 2021 | 0.66 | 0.62 |
| Dec 31, 2020 | 0.65 | 0.58 |
| Dec 31, 2019 | 0.88 | 0.59 |
| Dec 31, 2018 | 0.93 | 0.59 |
| Dec 31, 2017 | 1.69 | 0.51 |
| Dec 31, 2016 | 1.97 | 0.55 |
| Dec 31, 2015 | 2.16 | 0.63 |
| Dec 31, 2014 | 2.26 | 0.64 |
| Dec 31, 2013 | 2.00 | 0.66 |
| Dec 31, 2012 | 1.77 | 0.70 |
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).