Enphase Energy (ENPH)
Builds microinverter-based solar, battery, charging, and home-energy control systems.
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Builds microinverter-based home-energy systems spanning solar generation, batteries, EV charging, monitoring, and installer services. Product sales flow mainly through solar distributors and installers, with revenue concentrated in the United States and operations managed as one reportable segment.
Designs IQ Microinverters, IQ Batteries, EV chargers, IQ Gateway and Energy Router controls, cloud monitoring, installer software, and customer-care services as one coordinated home-energy system. Product sales provide most revenue, while services extend installer and homeowner workflows.
The platform builds on panel-level power conversion, shared communications, and software control. Product development has repeatedly widened that architecture from solar generation into storage, outage backup, vehicle charging, load management, and off-grid configurations, while operations follow metric-driven planning, price, cost, cash, and supply-chain controls.
Sales run mainly through solar distributors and installers and are concentrated in the United States, with Europe a smaller market. Execution depends on residential-solar demand, policy incentives and tariffs, third-party manufacturing, distributor and installer purchasing, supplier performance, and product reliability.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Jefferies | Target | Target: $54 | Target: $42 |
| Sep 21, 2026 | Goldman Sachs | Target | Target: $57 | Target: $47 |
| Aug 17, 2026 | Evercore ISI | Reiterate | Rating: —Target: $37 | Target: $41 |
| Jul 30, 2026 | Susquehanna | Reiterate | Rating: —Target: $45 | Target: $39 |
| Jul 29, 2026 | RBC Capital | Reiterate | Rating: —Target: $54 | Target: $47 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $967.1M · Total debt $613.4M · Total assets $2.92B · Shareholders' equity $1.18B
- Revenue
- $291.9M
- Operating income
- $51.5M
- Net income
- $36.1M
No dividends on record.
| Institutions | 95.09% | 125.66M shares | |
|---|---|---|---|
| 609 holders · as of Jun 30, 2026 | |||
| Insiders | 0.28% | 368.7K shares | |
| 10 holders · as of Aug 14, 2026 | |||
| Other | 4.63% | 6.12M shares | |
| remainder | |||
132.14M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 17.75% | 23.45M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.86% | 9.07M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.34% | 5.73M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.59% | 4.75M | as of Jun 30, 2026 |
Two Sigma Investments, LPInstitution | 3.52% | 4.66M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 14, 2026 | Richard Mora | director | −1,500 | $40.36 |
| Jul 30, 2026 | Richard Mora | director | −2,000 | $36.76 |
| Jun 12, 2026 | Shanker Trivedi | director | +1,000 | $53.91 |
| Jun 1, 2026 | Richard Mora | director | −700 | $64.20 |
| May 26, 2026 | Badrinarayanan Kothandaraman | director, officer: President & CEO | +5,000 | $67.50 |
- SolarEdge Technologies
Closest broad rival across inverters, storage, and energy control
- Tesla
Three-way overlap in solar conversion, home storage, and EV charging
- ChargePoint
Networked residential and commercial EV-charging specialist
- Wallbox
Smart EV-charging hardware and energy-management competitor
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Enphase Energy | $34.53 | −0.66% | $4.59B | 34.8 | 17.7 | 3.5 | −19.6% |
| SolarEdge Technologies | $35.93 | +0.90% | $2.17B | — | 129.5 | 1.6 | +19.6% |
| Tesla | $379.70 | +1.17% | $1.48T | 347.5 | 184.2 | 14.3 | +25.5% |
| ChargePoint | $9.88 | +4.99% | $243.7M | — | — | 0.6 | +17.7% |
| Wallbox | $2.91 | −4.75% | $71.5M | — | — | 0.5 | −37.6% |
| Median | 347.5 | 156.8 | 1.1 | +18.7% |