Question 1

What is Enphase Energy's P/E ratio?

Accepted Answer

Enphase Energy (ENPH) P/E ratio is 54.5× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Enphase Energy?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Enphase Energy specifically, the relevant sector benchmark is the current sector median of 17.9×.

Question 5

Is Enphase Energy's P/E ratio high or low?

Accepted Answer

Enphase Energy's P/E ratio of 54.5× is below its own 5-year average of 89.8× and above the sector median of 17.9×. That places the current reading at the 43th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Enphase Energy's historical P/E ratio range?

Accepted Answer

In the available daily series, Enphase Energy (ENPH) P/E ratio has ranged from a low of 17.5× in 2020 to a high of 285.8× in 2021. The 5-year average is 89.8× and the 5-year median is 73.9×.

Question 7

What was Enphase Energy's P/E ratio in 2025?

Accepted Answer

Enphase Energy (ENPH) P/E ratio at the end of 2025 was 24.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Enphase Energy's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$4.20B	$172.13M	24.4×	-65.1×	Dec 31, 2025
2024	$9.19B	$102.66M	89.5×	+48.6×	Dec 31, 2024
2023	$17.98B	$438.94M	41.0×	-49.8×	Dec 31, 2023
2022	$36.08B	$397.36M	90.8×	-78.9×	Dec 31, 2022
2021	$24.68B	$145.45M	169.7×	+3.4×	Dec 31, 2021
2020	$22.28B	$134.00M	166.3×	+146.4×	Dec 31, 2020
2019	$3.20B	$161.15M	19.9×	—	Dec 31, 2019
2018	$504.40M	−$11.63M	—	—	Dec 31, 2018
2017	$206.51M	−$45.19M	—	—	Dec 31, 2017
2016	$62.50M	−$67.46M	—	—	Dec 31, 2016
2015	$158.80M	−$22.08M	—	—	Dec 31, 2015
2014	$623.22M	−$8.05M	—	—	Dec 31, 2014
2013	$266.48M	−$25.91M	—	—	Dec 31, 2013
2012	$148.99M	−$38.22M	—	—	Dec 31, 2012
2011	$288.39M	−$32.29M	—	—	Dec 31, 2011
2010	$8.29M	−$21.78M	—	—	Dec 31, 2010


Chevron (CVX)	37.2×
Williams Companies (WMB)	31.4×
Exxon Mobil (XOM)	28.0×
Targa Resources (TRGP)	25.4×
SLB (SLB)	23.3×
Kinder Morgan (KMI)	22.5×
ConocoPhillips (COP)	22.1×
Enbridge (ENB)	21.6×
Halliburton (HAL)	21.2×
Baker Hughes (BKR)	19.4×
NACCO Industries (NC)	18.1×
Phillips 66 (PSX)	17.8×
Valero Energy (VLO)	17.5×
ONEOK (OKE)	16.1×
Marathon Petroleum (MPC)	15.6×
EOG Resources (EOG)	14.0×
Devon Energy (DVN)	13.8×
Energy Transfer LP (ET)	13.7×
Occidental Petroleum (OXY)	13.5×
National Fuel Gas (NFG)	13.0×
First Solar (FSLR)	12.7×
EQT (EQT)	11.9×
APA (APA)	9.8×
Expand Energy (EXE)	8.2×
Sunrun (RUN)	5.6×

P/E Ratio for Enphase Energy (ENPH)

P/E Ratio daily chart for Enphase Energy (ENPH)

Historical P/E Ratio for Enphase Energy (ENPH) from 2010 to 2025

About P/E Ratio at Enphase Energy (ENPH)

Enphase Energy P/E Ratio by Year

Enphase Energy P/E Ratio 2025: 24.4×

Enphase Energy P/E Ratio 2024: 89.5×

Enphase Energy P/E Ratio 2023: 41.0×

Enphase Energy P/E Ratio 2022: 90.8×

Enphase Energy P/E Ratio 2021: 169.7×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Enphase Energy (ENPH) Key Financials

P/E Ratio daily chart for Enphase Energy (ENPH)

Historical P/E Ratio for Enphase Energy (ENPH) from 2010 to 2025

About P/E Ratio at Enphase Energy (ENPH)

Enphase Energy P/E Ratio by Year

Enphase Energy P/E Ratio 2025: 24.4×

Enphase Energy P/E Ratio 2024: 89.5×

Enphase Energy P/E Ratio 2023: 41.0×

Enphase Energy P/E Ratio 2022: 90.8×

Enphase Energy P/E Ratio 2021: 169.7×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Enphase Energy's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Enphase Energy?

+Is Enphase Energy's P/E ratio high or low?

+What is Enphase Energy's historical P/E ratio range?

+What was Enphase Energy's P/E ratio in 2025?

+Why does Enphase Energy's P/E ratio change over time?

Enphase Energy (ENPH) Key Financials