How Enphase Energy (ENPH) Makes Money: A Visual Guide
Enphase Energy (ENPH) generated $1.47B in revenue (TTM through Q4 2025), earning $172.13M in net profit (11.7% margin). Its largest revenue source is Reportable Segment (100% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.
Enphase Energy (ENPH) Income Statement Flow
Frequently asked questions
How does Enphase Energy (ENPH) make money?
- Enphase Energy (ENPH) primarily makes money through Reportable Segment, which accounts for 100% of total revenue. For TTM through Q4 2025, Enphase Energy generated $1.47B in total revenue with a net profit margin of 11.7%.
What is Enphase Energy (ENPH) gross profit margin?
- Enphase Energy (ENPH) reported a gross profit margin of 46.6% for TTM through Q4 2025, equivalent to $687.00M in gross profit. This means Enphase Energy retains 46.6% of each revenue unit after direct costs of production.
What is Enphase Energy (ENPH) operating profit margin?
- Enphase Energy (ENPH) reported an operating profit margin of 10.7% for TTM through Q4 2025, equivalent to $156.89M in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Enphase Energy (ENPH) net profit margin?
- Enphase Energy (ENPH) reported a net profit margin of 11.7% for TTM through Q4 2025, equivalent to $172.13M in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Enphase Energy (ENPH) invest in R&D?
- Enphase Energy (ENPH) invested $189.07M in research and development in TTM through Q4 2025 (12.8% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does Enphase Energy (ENPH) spend on capital expenditures?
- Enphase Energy (ENPH) spent $40.64M on capital expenditures in TTM through Q4 2025 (2.8% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Enphase Energy (ENPH) free cash flow?
- Enphase Energy (ENPH) generated $95.90M in free cash flow for TTM through Q4 2025 (6.5% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is Enphase Energy (ENPH) effective tax rate?
- Enphase Energy (ENPH) had an effective tax rate of 16% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.
Data & methodology
What is a Sankey diagram?
- A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?
- We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?
- Based on company filings through TTM through Q4 2025.
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