Enphase Energy Inc (ENPH) Fair Value & Analysis
Technology · US · Market cap $5.9B · ISIN US29355A1079
What is Enphase Energy Inc really worth?
Enphase Energy Inc
ENPH · US
A solid business, trading 13% below our fair value of $41.55.
Strengths
Risks
Fair value as of: Aug 29, 2026
From 26 valuation models · updated 7 days ago
Fair value updated Aug 29, 2026, revised from $24.15 to $41.55 (+72.0%) since Aug 27, 2026. Share price −13.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A fairly wide model range ($26.01 to $54.43) leaves room in how you read the outcome.
- The price sits in the lower half of our model range, the side with the larger margin of safety.
- Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range $26.12 – $336.00 · fair‑value band $26.01 – $54.43 · the $36.31 price screens below the $41.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Enphase Energy Inc (ENPH) currently trades at $36.31, while our model-based Fair Value estimate is $41.55, implying the stock looks roughly 12.6% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of $43.25 per share, and 8 of the 26 models we run sit above the $36.31 price. Bear case: the Asset-Based group reads lowest at $5.53, and 18 of the 26 models stay below the price. Evidence for this calculation is medium.
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 Aug 29, 2026
Our scenario range runs from $26.01 (bear case) to $54.43 (bull case); at $36.31, 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 51% below its 52-week high and 41% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at 14%, ENPH screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.6862 per share, which is 1.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings ($43.25) versus Asset-Based ($5.53). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 18
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
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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Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Enphase (ENPH) is Preparing for the End of Dutch Net Metering. Will It Boost Batteries or Hurt Solar Demand?
- Enphase Energy (ENPH) Starts Dutch Net Metering Outreach Program
- The Bull Case For Enphase Energy (ENPH) Could Change Following Its New AI‑Driven Home Energy Platform
- Why Did Enphase Energy (ENPH) Move Today?
Peer Group
Solar · 109 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
Strength profile in five axes (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: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $210.10 | $392.12 | +87% |
| Nextpower Inc NXT | $103.67 | $69.61 | −33% |
| Waaree Energies Limited WAAREEENER | ₹2,624 | ₹2,709 | +3% |
| Tongwei Co 600438 | ¥12.89 | ¥12.13 | −6% |
| Jinko Solar Co 688223 | ¥4.16 | ¥6.47 | +56% |
| CSI Solar Co 688472 | ¥10.28 | ¥6.76 | −34% |
| Hengdian Group 002056 | ¥21.53 | ¥31.86 | +48% |
| Premier Energies Limited PREMIERENE | ₹1,017 | ₹648.94 | −36% |
| Trina Solar Co 688599 | ¥12.77 | ¥7.97 | −38% |
| JA Solar Technology Co 002459 | ¥6.81 | ¥3.32 | −51% |
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