Income Statement
ENPHASE ENERGY, INC.
ENPH
Performance Overview
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in millions USD
| Metric | Dec 31, 2025 2025 FY | Dec 31, 2024 2024 FY | Dec 31, 2023 2023 FY | Dec 31, 2022 2022 FY | Dec 31, 2021 2021 FY | Dec 31, 2020 2020 FY | Dec 31, 2019 2019 FY | Dec 31, 2018 2018 FY | Dec 31, 2017 2017 FY | Dec 31, 2016 2016 FY | Dec 31, 2015 2015 FY | Dec 31, 2014 2014 FY | Dec 31, 2013 2013 FY | Dec 31, 2012 2012 FY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Revenue
|
1,472.99 | 1,330.38 | 2,290.79 | 2,330.85 | 1,382.05 | 774.43 | 624.33 | 316.16 | 286.17 | 322.59 | 357.25 | 343.90 | 232.85 | 216.68 |
|
Cost of Revenue
|
785.98 | 701.25 | 1,232.40 | 1,356.26 | 827.63 | 428.44 | 403.09 | 221.71 | 230.12 | 264.58 | 249.03 | 230.86 | 165.43 | 161.39 |
|
Gross Profit
|
687.00 | 629.14 | 1,058.39 | 974.60 | 554.42 | 345.98 | 221.25 | 94.45 | 56.04 | 58.01 | 108.22 | 113.04 | 67.42 | 55.29 |
|
Operating Expenses
|
529.48 | 551.85 | 612.65 | 526.33 | 338.59 | 159.54 | 118.52 | 92.85 | 95.42 | 120.71 | 127.53 | 117.47 | 89.57 | 86.45 |
|
Research & Development
|
189.08 | 201.32 | 227.34 | 168.85 | 105.53 | 55.92 | 40.38 | 32.59 | 33.16 | 50.70 | 50.82 | 45.39 | 34.52 | 35.60 |
|
Selling, General & Administrative
|
197.51 | 206.55 | 231.79 | 215.10 | 128.97 | 52.93 | 38.81 | 29.09 | 23.13 | 38.81 | 45.88 | 41.00 | 31.08 | 25.97 |
|
Other Operating Expenses
|
- | - | - | - | - | - | - | - | - | - | - | - | - | - |
|
Operating Income
|
157.53 | 77.29 | 445.74 | 448.26 | 215.83 | 186.44 | 102.73 | 1.60 | -39.38 | -62.70 | -19.31 | -4.43 | -22.16 | -31.16 |
|
Non-Operating Income
|
47.29 | 42.87 | 67.40 | 3.79 | -94.90 | -67.03 | -12.62 | 0.00 | -5.96 | -3.29 | -1.39 | -2.86 | -2.89 | -6.41 |
|
Interest Income
|
- | - | - | - | - | - | - | - | - | - | - | - | - | 0.02 |
|
Interest Expense
|
1.99 | 5.59 | 8.84 | 9.44 | 45.15 | 21.00 | 9.69 | 9.64 | 7.94 | 2.77 | 0.50 | 1.86 | 2.06 | 6.44 |
|
Other Non-Op Income / Expense
|
-10.91 | -25.53 | 6.51 | -0.43 | 6.05 | -3.84 | -5.44 | 0.00 | 1.97 | -0.51 | -0.89 | -0.99 | -0.84 | 0.01 |
|
Income Before Tax
|
204.81 | 120.16 | 513.14 | 452.05 | 120.93 | 119.41 | 90.11 | -2.12 | -45.34 | -65.99 | -20.70 | -7.29 | -25.05 | -37.57 |
|
Income Tax Expense
|
32.68 | 17.50 | 74.20 | 54.69 | -24.52 | -14.59 | -71.03 | -0.72 | -0.15 | 1.48 | 1.38 | 0.77 | 0.86 | 0.65 |
|
Non-Controlling Interest
|
- | - | - | - | - | - | - | - | - | - | - | - | - | - |
|
Net Income
|
172.13 | 102.66 | 438.94 | 397.36 | 145.45 | 134.00 | 161.15 | -11.63 | -45.19 | -67.46 | -22.08 | -8.05 | -25.91 | -38.22 |
Supplemental
Per share data, derived & other items — not part of the income statement
in millions USD unless noted
| Metric | Dec 31, 2025 2025 FY | Dec 31, 2024 2024 FY | Dec 31, 2023 2023 FY | Dec 31, 2022 2022 FY | Dec 31, 2021 2021 FY | Dec 31, 2020 2020 FY | Dec 31, 2019 2019 FY | Dec 31, 2018 2018 FY | Dec 31, 2017 2017 FY | Dec 31, 2016 2016 FY | Dec 31, 2015 2015 FY | Dec 31, 2014 2014 FY | Dec 31, 2013 2013 FY | Dec 31, 2012 2012 FY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Depreciation & Amortization
|
- | - | - | - | - | - | - | - | - | - | - | - | - | - |
|
EBITDA
|
238.17 | 158.68 | 520.45 | 507.04 | 248.27 | 204.54 | 116.85 | 11.26 | -30.37 | -52.06 | -8.77 | 3.83 | -15.18 | -25.59 |
|
Earnings Per Share (Basic)
|
1.31 | 0.76 | - | - | - | - | - | - | - | - | - | - | - | - |
|
Diluted EPS
|
1.29 | 0.75 | - | - | - | - | - | - | - | - | - | - | - | - |
|
Weighted Average Shares
|
131.16 | 135.17 | 136.38 | 135.35 | 134.03 | 125.56 | 116.71 | - | - | - | - | - | - | - |
|
Diluted Weighted Avg Shares
|
134.89 | 140.00 | 143.29 | 144.39 | 142.88 | 141.92 | 131.64 | - | - | - | - | - | - | - |
|
Comprehensive Income
|
180.24 | 98.29 | 447.83 | 388.50 | 143.00 | 135.35 | 159.48 | -10.23 | -45.56 | -67.54 | -22.21 | -8.36 | -25.74 | -38.25 |