Stock Analysis on Net
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.

Enterprise Value to EBITDA (EV/EBITDA)

Microsoft Excel

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enphase Energy Inc., EBITDA calculation

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income 438,936 397,362 145,449 133,995 161,148
Add: Income tax expense 74,203 54,686 (24,521) (14,585) (71,034)
Earnings before tax (EBT) 513,139 452,048 120,928 119,410 90,114
Add: Interest expense 8,839 9,438 45,152 21,001 9,691
Earnings before interest and tax (EBIT) 521,978 461,486 166,080 140,411 99,805
Add: Depreciation and amortization 74,708 58,775 30,846 18,103 14,119
Earnings before interest, tax, depreciation and amortization (EBITDA) 596,686 520,261 196,926 158,514 113,924

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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Enphase Energy Inc. EBITDA increased from 2021 to 2022 and from 2022 to 2023.

Enterprise Value to EBITDA Ratio, Current

Enphase Energy Inc., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in thousands)
Enterprise value (EV) 16,225,150
Earnings before interest, tax, depreciation and amortization (EBITDA) 596,686
Valuation Ratio
EV/EBITDA 27.19
Benchmarks
EV/EBITDA, Competitors1
Advanced Micro Devices Inc. 60.80
Analog Devices Inc. 16.06
Applied Materials Inc. 18.92
Broadcom Inc. 29.60
Intel Corp. 15.72
KLA Corp. 19.94
Lam Research Corp. 20.61
Micron Technology Inc. 51.32
NVIDIA Corp. 59.03
ON Semiconductor Corp. 8.63
Qualcomm Inc. 18.52
Texas Instruments Inc. 16.81
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment 44.95
EV/EBITDA, Industry
Information Technology 28.58

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Enterprise Value to EBITDA Ratio, Historical

Enphase Energy Inc., historical EV/EBITDA 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)
Enterprise value (EV)1 16,225,150 28,692,770 19,534,069 24,617,110 7,088,097
Earnings before interest, tax, depreciation and amortization (EBITDA)2 596,686 520,261 196,926 158,514 113,924
Valuation Ratio
EV/EBITDA3 27.19 55.15 99.19 155.30 62.22
Benchmarks
EV/EBITDA, Competitors4
Advanced Micro Devices Inc. 65.81 22.63 34.19 62.10 82.59
Analog Devices Inc. 15.56 16.23 38.55 23.61 18.67
Applied Materials Inc. 15.75 11.04 17.54 16.82 14.60
Broadcom Inc. 26.42 13.54 19.72 18.89 16.32
Intel Corp. 18.96 6.20 6.02 6.40 8.73
KLA Corp. 15.67 14.97 19.26 18.10 14.14
Lam Research Corp. 15.35 11.34 16.67 17.76 10.07
Micron Technology Inc. 32.38 3.26 6.05 6.46 3.90
NVIDIA Corp. 95.68 57.59 58.96 52.90 21.10
ON Semiconductor Corp. 10.57 11.65 14.40 20.27 11.13
Qualcomm Inc. 12.82 7.84 12.76 19.49 10.55
Texas Instruments Inc. 16.36 14.69 15.54 21.75 17.73
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment 25.99 14.44 15.49 14.76 11.56
EV/EBITDA, Industry
Information Technology 23.37 18.28 20.37 19.53 14.42

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 See details »

2 See details »

3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 16,225,150 ÷ 596,686 = 27.19

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Enphase Energy Inc. EV/EBITDA ratio decreased from 2021 to 2022 and from 2022 to 2023.