Stock Analysis on Net

Enphase Energy Inc. (NASDAQ:ENPH)

This company has been moved to the archive! The financial data has not been updated since February 9, 2024.

Analysis of Profitability Ratios

Microsoft Excel

Profitability Ratios (Summary)

Enphase Energy Inc., profitability ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Return on Sales
Gross profit margin 46.20% 41.81% 40.12% 44.68% 35.44%
Operating profit margin 19.46% 19.23% 15.62% 24.07% 16.45%
Net profit margin 19.16% 17.05% 10.52% 17.30% 25.81%
Return on Investment
Return on equity (ROE) 44.62% 48.13% 33.81% 27.69% 59.20%
Return on assets (ROA) 12.97% 12.88% 7.00% 11.17% 22.59%

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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Enphase Energy Inc. gross profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Enphase Energy Inc. operating profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Enphase Energy Inc. net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Enphase Energy Inc. ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
ROA A profitability ratio calculated as net income divided by total assets. Enphase Energy Inc. ROA improved from 2021 to 2022 and from 2022 to 2023.

Gross Profit Margin

Enphase Energy Inc., gross profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Gross profit 1,058,388 974,595 554,422 345,981 221,245
Net revenues 2,290,786 2,330,853 1,382,049 774,425 624,333
Profitability Ratio
Gross profit margin1 46.20% 41.81% 40.12% 44.68% 35.44%
Benchmarks
Gross Profit Margin, Competitors2
Advanced Micro Devices Inc. 46.12% 44.93% 48.25% 44.53% 42.61%
Analog Devices Inc. 64.01% 62.70% 61.83% 65.87% 67.00%
Applied Materials Inc. 46.70% 46.51% 47.32% 44.72% 43.72%
Broadcom Inc. 68.93% 66.55% 61.36% 56.58% 55.24%
Intel Corp. 40.04% 42.61% 55.45% 56.01% 58.56%
KLA Corp. 59.81% 61.00% 59.93% 57.81% 59.08%
Lam Research Corp. 44.62% 45.69% 46.53% 45.88% 45.15%
Micron Technology Inc. -9.11% 45.18% 37.62% 30.57% 45.72%
NVIDIA Corp. 56.93% 64.93% 62.34% 61.99% 61.21%
ON Semiconductor Corp. 47.06% 48.97% 40.27% 32.65% 35.77%
Qualcomm Inc. 55.70% 57.84% 57.51% 60.67% 64.57%
Texas Instruments Inc. 62.90% 68.76% 67.47% 64.10% 63.71%

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).

1 2023 Calculation
Gross profit margin = 100 × Gross profit ÷ Net revenues
= 100 × 1,058,388 ÷ 2,290,786 = 46.20%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Enphase Energy Inc. gross profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Operating Profit Margin

Enphase Energy Inc., operating profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Income from operations 445,741 448,261 215,832 186,439 102,729
Net revenues 2,290,786 2,330,853 1,382,049 774,425 624,333
Profitability Ratio
Operating profit margin1 19.46% 19.23% 15.62% 24.07% 16.45%
Benchmarks
Operating Profit Margin, Competitors2
Advanced Micro Devices Inc. 1.77% 5.36% 22.20% 14.02% 9.37%
Analog Devices Inc. 31.07% 27.29% 23.12% 26.74% 28.55%
Applied Materials Inc. 28.86% 30.20% 29.87% 25.37% 22.93%
Broadcom Inc. 45.25% 42.84% 31.03% 16.80% 15.24%
Intel Corp. 0.17% 3.70% 24.62% 30.41% 30.62%
KLA Corp. 38.06% 39.67% 35.97% 25.87% 30.41%
Lam Research Corp. 29.69% 31.24% 30.64% 26.62% 25.53%
Micron Technology Inc. -36.97% 31.54% 22.68% 14.01% 31.51%
NVIDIA Corp. 15.66% 37.31% 27.18% 26.07% 32.47%
ON Semiconductor Corp. 30.76% 28.34% 19.10% 6.64% 7.84%
Qualcomm Inc. 21.74% 35.88% 29.16% 26.58% 31.59%
Texas Instruments Inc. 41.85% 50.63% 48.84% 40.76% 39.79%
Operating Profit Margin, Sector
Semiconductors & Semiconductor Equipment 18.86% 27.37% 28.08% 25.44% 27.87%
Operating Profit Margin, Industry
Information Technology 26.32% 28.47% 28.76% 24.95% 25.42%

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).

1 2023 Calculation
Operating profit margin = 100 × Income from operations ÷ Net revenues
= 100 × 445,741 ÷ 2,290,786 = 19.46%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Enphase Energy Inc. operating profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Net Profit Margin

Enphase Energy Inc., net profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Net income 438,936 397,362 145,449 133,995 161,148
Net revenues 2,290,786 2,330,853 1,382,049 774,425 624,333
Profitability Ratio
Net profit margin1 19.16% 17.05% 10.52% 17.30% 25.81%
Benchmarks
Net Profit Margin, Competitors2
Advanced Micro Devices Inc. 3.77% 5.59% 19.24% 25.50% 5.07%
Analog Devices Inc. 26.94% 22.88% 19.00% 21.79% 22.75%
Applied Materials Inc. 25.86% 25.31% 25.53% 21.04% 18.52%
Broadcom Inc. 39.31% 34.62% 24.54% 12.39% 12.05%
Intel Corp. 3.11% 12.71% 25.14% 26.84% 29.25%
KLA Corp. 32.27% 36.06% 30.04% 20.96% 25.73%
Lam Research Corp. 25.88% 26.73% 26.72% 22.42% 22.70%
Micron Technology Inc. -37.54% 28.24% 21.16% 12.54% 26.97%
NVIDIA Corp. 16.19% 36.23% 25.98% 25.61% 35.34%
ON Semiconductor Corp. 26.46% 22.85% 14.98% 4.46% 3.84%
Qualcomm Inc. 20.19% 29.27% 26.94% 22.09% 18.07%
Texas Instruments Inc. 37.16% 43.68% 42.35% 38.69% 34.88%
Net Profit Margin, Sector
Semiconductors & Semiconductor Equipment 17.33% 25.47% 25.57% 22.66% 23.96%
Net Profit Margin, Industry
Information Technology 22.13% 24.07% 25.56% 21.38% 22.17%

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).

1 2023 Calculation
Net profit margin = 100 × Net income ÷ Net revenues
= 100 × 438,936 ÷ 2,290,786 = 19.16%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Enphase Energy Inc. net profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Return on Equity (ROE)

Enphase Energy Inc., ROE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Net income 438,936 397,362 145,449 133,995 161,148
Stockholders’ equity 983,624 825,573 430,168 483,993 272,212
Profitability Ratio
ROE1 44.62% 48.13% 33.81% 27.69% 59.20%
Benchmarks
ROE, Competitors2
Advanced Micro Devices Inc. 1.53% 2.41% 42.18% 42.66% 12.06%
Analog Devices Inc. 9.32% 7.54% 3.66% 10.17% 11.64%
Applied Materials Inc. 41.94% 53.51% 48.08% 34.21% 32.94%
Broadcom Inc. 58.70% 50.62% 26.99% 12.40% 10.92%
Intel Corp. 1.60% 7.90% 20.83% 25.79% 27.16%
KLA Corp. 116.01% 237.04% 61.53% 45.65% 44.21%
Lam Research Corp. 54.94% 73.35% 64.85% 43.53% 46.89%
Micron Technology Inc. -13.22% 17.41% 13.34% 6.89% 17.59%
NVIDIA Corp. 19.76% 36.65% 25.64% 22.91% 44.33%
ON Semiconductor Corp. 28.06% 30.74% 22.02% 6.62% 6.41%
Qualcomm Inc. 33.51% 71.81% 90.88% 85.54% 89.35%
Texas Instruments Inc. 38.53% 60.02% 58.27% 60.90% 56.33%
ROE, Sector
Semiconductors & Semiconductor Equipment 13.62% 22.84% 25.72% 24.23% 26.49%
ROE, Industry
Information Technology 31.93% 38.69% 42.56% 35.29% 36.68%

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).

1 2023 Calculation
ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × 438,936 ÷ 983,624 = 44.62%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Enphase Energy Inc. ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Return on Assets (ROA)

Enphase Energy Inc., ROA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Net income 438,936 397,362 145,449 133,995 161,148
Total assets 3,383,012 3,084,280 2,079,256 1,200,102 713,223
Profitability Ratio
ROA1 12.97% 12.88% 7.00% 11.17% 22.59%
Benchmarks
ROA, Competitors2
Advanced Micro Devices Inc. 1.26% 1.95% 25.46% 27.78% 5.66%
Analog Devices Inc. 6.79% 5.46% 2.66% 5.69% 6.37%
Applied Materials Inc. 22.31% 24.41% 22.80% 16.19% 14.22%
Broadcom Inc. 19.33% 15.69% 8.91% 3.90% 4.04%
Intel Corp. 0.88% 4.40% 11.80% 13.65% 15.42%
KLA Corp. 24.07% 26.37% 20.23% 13.11% 13.05%
Lam Research Corp. 24.02% 26.78% 24.59% 15.47% 18.26%
Micron Technology Inc. -9.08% 13.11% 9.96% 5.01% 12.91%
NVIDIA Corp. 10.61% 22.07% 15.05% 16.15% 31.15%
ON Semiconductor Corp. 16.52% 15.88% 10.49% 2.70% 2.51%
Qualcomm Inc. 14.17% 26.39% 21.93% 14.60% 13.31%
Texas Instruments Inc. 20.12% 32.16% 31.48% 28.91% 27.84%
ROA, Sector
Semiconductors & Semiconductor Equipment 7.60% 12.74% 13.56% 11.62% 13.13%
ROA, Industry
Information Technology 13.10% 15.14% 15.65% 12.15% 12.80%

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).

1 2023 Calculation
ROA = 100 × Net income ÷ Total assets
= 100 × 438,936 ÷ 3,383,012 = 12.97%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Enphase Energy Inc. ROA improved from 2021 to 2022 and from 2022 to 2023.