Enphase Energy, Inc (ENPH) Fair Value & Analysis
Technology · US · Market cap $5.9B
Enphase Energy, Inc
ENPH · US
Fair value as of: Jul 12, 2026
From 26 valuation models · updated 26 days ago
Fair value updated Jul 12, 2026, revised from $22.20 to $38.19 (+72.0%) since Jun 24, 2026. Share price −7.7% over the past month.
A solid business, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range ($21.33 to $47.74) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.
How to read this chart
60‑month range $26.12 – $336.00 · fair‑value band $21.33 – $47.74 · the $39.67 price screens above the $38.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Enphase Energy, Inc (ENPH) currently trades at $39.67, while our model-based Fair Value estimate is $38.19, implying the stock looks roughly 3.7% fairly valued today. We read business quality at 56/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Enphase Energy, Inc generated revenue of $1.4B at a net margin of 9.6%. Revenue declined 20.6% year over year. It earns a return on equity of 14.1%. Net debt stands at $769M. Fundamentals as of Jul 12, 2026
Our scenario range runs from $21.33 (bear case) to $47.74 (bull case); at $39.67, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 46% below its 52-week high and 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at 5% fair-value upside, at -4%, ENPH screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings ($37.25) versus Asset-Based ($5.53). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 44
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally.
Full company description
Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control. It also provides microinverter units and related accessories; IQ Battery and related accessories; IQ PowerPack 1500 and related accessories; IQ Combiner, IQ Gateway, and IQ Energy Router; cloud-based monitoring service; and electric vehicle charging solutions, as well as design, proposal, permitting, installation and solar appointment generation services, and Enphase Care services. The company sells its solutions to solar distributors; and directly to large installers, original equipment manufacturers, strategic partners, and homeowners, as well as through its legacy product upgrade program or online store. Enphase Energy, Inc. was incorporated in 2006 and is headquartered in Fremont, California.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Enphase Energy, Inc reported revenue of $1.5B in FY2025 versus $1.4B in FY2021, a compound +1.6%/yr. Reported net income was $172M in FY2025, compounding +4.3%/yr from FY2021.
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Enphase Energy Q2 Earnings Match Estimates, Revenues Decline Y/Y
- ENPH Q2 Earnings Call Highlights Storage-Led Recovery
- Enphase Energy (ENPH) Unveils Kestrel ASIC White Paper For Its Next Energy Products
- Enphase Energy (ENPH) Reports Mixed Demand, Is It Still A Bargain?
Peer Group
Solar · 120 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Solar median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 66/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $221.03 | $284.45 | +29% |
| Nextpower Inc NXT | $111.50 | $69.61 | -38% |
| Tongwei Co 600438 | ¥11.12 | ¥12.13 | +9% |
| Waaree Energies Limited WAAREEENER | ₹2,923 | ₹3,613 | +24% |
| Jinko Solar Co 688223 | ¥4.39 | ¥4.75 | +8% |
| Hengdian Group 002056 | ¥21.64 | ¥22.76 | +5% |
| CSI Solar Co 688472 | ¥10.11 | ¥7.01 | -31% |
| Premier Energies Limited PREMIERENE | ₹1,086 | ₹912.32 | -16% |
| Trina Solar Co 688599 | ¥12.98 | ¥7.97 | -39% |
| JA Solar Technology Co 002459 | ¥7.06 | ¥3.32 | -53% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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