ENPHASE ENERGY INC (ENPH) Stock Fundamental Analysis
USA - NASDAQ:ENPH - US29355A1079 - Common Stock
30.22 USD
-0.95 (-3.05%)
30.3137 USD
+0.09 (+0.31%)
We assign a fundamental rating of 5 out of 10 to ENPH. ENPH was compared to 112 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the profitability and the financial health of ENPH get a neutral evaluation. Nothing too spectacular is happening here. ENPH scores decently on growth, while it is valued quite cheap. This could make an interesting combination.
1. Profitability
1.1 Basic Checks
In the past year ENPH was profitable.
ENPH had a positive operating cash flow in the past year.
Each year in the past 5 years ENPH has been profitable.
In the past 5 years ENPH always reported a positive cash flow from operatings.
1.2 Ratios
ENPH's Return On Assets of 5.89% is fine compared to the rest of the industry. ENPH outperforms 72.32% of its industry peers.
ENPH has a better Return On Equity (19.66%) than 85.71% of its industry peers.
With a decent Return On Invested Capital value of 8.61%, ENPH is doing good in the industry, outperforming 77.68% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for ENPH is in line with the industry average of 11.07%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.89% | ||
| ROE | 19.66% | ||
| ROIC | 8.61% |
ROA(3y)9.67%
ROA(5y)9.44%
ROE(3y)35.03%
ROE(5y)33.31%
ROIC(3y)10.89%
ROIC(5y)13.62%
1.3 Margins
ENPH has a better Profit Margin (12.93%) than 73.21% of its industry peers.
In the last couple of years the Profit Margin of ENPH has declined.
With a decent Operating Margin value of 14.31%, ENPH is doing good in the industry, outperforming 71.43% of the companies in the same industry.
In the last couple of years the Operating Margin of ENPH has declined.
ENPH has a Gross Margin of 49.11%. This is comparable to the rest of the industry: ENPH outperforms 59.82% of its industry peers.
In the last couple of years the Gross Margin of ENPH has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.31% | ||
| PM (TTM) | 12.93% | ||
| GM | 49.11% |
OM growth 3Y-24.77%
OM growth 5Y-16.62%
PM growth 3Y-9.82%
PM growth 5Y-21.45%
GM growth 3Y5.64%
GM growth 5Y5.94%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ENPH is creating some value.
Compared to 1 year ago, ENPH has less shares outstanding
The number of shares outstanding for ENPH has been increased compared to 5 years ago.
ENPH has a worse debt/assets ratio than last year.
2.2 Solvency
ENPH has an Altman-Z score of 2.06. This is not the best score and indicates that ENPH is in the grey zone with still only limited risk for bankruptcy at the moment.
ENPH has a worse Altman-Z score (2.06) than 66.07% of its industry peers.
ENPH has a debt to FCF ratio of 5.54. This is a neutral value as ENPH would need 5.54 years to pay back of all of its debts.
ENPH has a Debt to FCF ratio (5.54) which is in line with its industry peers.
A Debt/Equity ratio of 0.57 indicates that ENPH is somewhat dependend on debt financing.
ENPH has a Debt to Equity ratio of 0.57. This is in the lower half of the industry: ENPH underperforms 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 5.54 | ||
| Altman-Z | 2.06 |
ROIC/WACC0.82
WACC10.5%
2.3 Liquidity
ENPH has a Current Ratio of 2.04. This indicates that ENPH is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 2.04, ENPH is doing worse than 70.54% of the companies in the same industry.
ENPH has a Quick Ratio of 1.88. This is a normal value and indicates that ENPH is financially healthy and should not expect problems in meeting its short term obligations.
With a Quick ratio value of 1.88, ENPH perfoms like the industry average, outperforming 42.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.04 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 62.94% over the past year.
The Earnings Per Share has been growing by 20.06% on average over the past years. This is a very strong growth
The Revenue has grown by 20.97% in the past year. This is a very strong growth!
The Revenue has been growing by 16.34% on average over the past years. This is quite good.
EPS 1Y (TTM)62.94%
EPS 3Y-0.69%
EPS 5Y20.06%
EPS Q2Q%38.46%
Revenue 1Y (TTM)20.97%
Revenue growth 3Y-1.26%
Revenue growth 5Y16.34%
Sales Q2Q%7.76%
3.2 Future
The Earnings Per Share is expected to grow by 7.78% on average over the next years.
ENPH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.65% yearly.
EPS Next Y18.08%
EPS Next 2Y-4.62%
EPS Next 3Y2.58%
EPS Next 5Y7.78%
Revenue Next Year11.37%
Revenue Next 2Y-2.05%
Revenue Next 3Y1.67%
Revenue Next 5Y2.65%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 9.41 indicates a reasonable valuation of ENPH.
Compared to the rest of the industry, the Price/Earnings ratio of ENPH indicates a rather cheap valuation: ENPH is cheaper than 99.11% of the companies listed in the same industry.
ENPH's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.83.
With a Price/Forward Earnings ratio of 14.02, ENPH is valued correctly.
ENPH's Price/Forward Earnings ratio is rather cheap when compared to the industry. ENPH is cheaper than 91.07% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 32.68. ENPH is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.41 | ||
| Fwd PE | 14.02 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, ENPH is valued cheaply inside the industry as 93.75% of the companies are valued more expensively.
ENPH's Price/Free Cash Flow ratio is rather cheap when compared to the industry. ENPH is cheaper than 89.29% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.18 | ||
| EV/EBITDA | 9.16 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
ENPH has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.52
PEG (5Y)0.47
EPS Next 2Y-4.62%
EPS Next 3Y2.58%
5. Dividend
5.1 Amount
No dividends for ENPH!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
30.22
-0.95 (-3.05%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners96.21%
Inst Owner Change-5.93%
Ins Owners3.13%
Ins Owner Change0.18%
Market Cap3.95B
Revenue(TTM)1.51B
Net Income(TTM)195.58M
Analysts63.81
Price Target43.28 (43.22%)
Short Float %21.56%
Short Ratio3.53
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)22.55%
Min EPS beat(2)8.83%
Max EPS beat(2)36.27%
EPS beat(4)3
Avg EPS beat(4)16.84%
Min EPS beat(4)-5.07%
Max EPS beat(4)36.27%
EPS beat(8)3
Avg EPS beat(8)2.95%
EPS beat(12)6
Avg EPS beat(12)5.62%
EPS beat(16)10
Avg EPS beat(16)9.13%
Revenue beat(2)1
Avg Revenue beat(2)4.4%
Min Revenue beat(2)-1.01%
Max Revenue beat(2)9.81%
Revenue beat(4)1
Avg Revenue beat(4)1.22%
Min Revenue beat(4)-3.27%
Max Revenue beat(4)9.81%
Revenue beat(8)1
Avg Revenue beat(8)-2.64%
Revenue beat(12)2
Avg Revenue beat(12)-2.62%
Revenue beat(16)6
Avg Revenue beat(16)-1.57%
PT rev (1m)1.06%
PT rev (3m)-14.64%
EPS NQ rev (1m)1.88%
EPS NQ rev (3m)3.43%
EPS NY rev (1m)1.65%
EPS NY rev (3m)9.58%
Revenue NQ rev (1m)-0.33%
Revenue NQ rev (3m)0.95%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)0.27%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.41 | ||
| Fwd PE | 14.02 | ||
| P/S | 2.61 | ||
| P/FCF | 18.18 | ||
| P/OCF | 15.42 | ||
| P/B | 3.97 | ||
| P/tB | 5.25 | ||
| EV/EBITDA | 9.16 |
EPS(TTM)3.21
EY10.62%
EPS(NY)2.16
Fwd EY7.13%
FCF(TTM)1.66
FCFY5.5%
OCF(TTM)1.96
OCFY6.49%
SpS11.57
BVpS7.61
TBVpS5.76
PEG (NY)0.52
PEG (5Y)0.47
Graham Number23.44
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.89% | ||
| ROE | 19.66% | ||
| ROCE | 10.07% | ||
| ROIC | 8.61% | ||
| ROICexc | 27.56% | ||
| ROICexgc | 43.07% | ||
| OM | 14.31% | ||
| PM (TTM) | 12.93% | ||
| GM | 49.11% | ||
| FCFM | 14.37% |
ROA(3y)9.67%
ROA(5y)9.44%
ROE(3y)35.03%
ROE(5y)33.31%
ROIC(3y)10.89%
ROIC(5y)13.62%
ROICexc(3y)29.55%
ROICexc(5y)N/A
ROICexgc(3y)43.52%
ROICexgc(5y)N/A
ROCE(3y)12.74%
ROCE(5y)15.93%
ROICexgc growth 3Y-41.75%
ROICexgc growth 5Y-24.25%
ROICexc growth 3Y-35.85%
ROICexc growth 5Y-25.26%
OM growth 3Y-24.77%
OM growth 5Y-16.62%
PM growth 3Y-9.82%
PM growth 5Y-21.45%
GM growth 3Y5.64%
GM growth 5Y5.94%
F-Score8
Asset Turnover0.46
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 5.54 | ||
| Debt/EBITDA | 1.92 | ||
| Cap/Depr | 48.17% | ||
| Cap/Sales | 2.58% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 86.18% | ||
| Profit Quality | 111.1% | ||
| Current Ratio | 2.04 | ||
| Quick Ratio | 1.88 | ||
| Altman-Z | 2.06 |
F-Score8
WACC10.5%
ROIC/WACC0.82
Cap/Depr(3y)89.33%
Cap/Depr(5y)108.77%
Cap/Sales(3y)3.11%
Cap/Sales(5y)3.16%
Profit Quality(3y)259%
Profit Quality(5y)225.8%
High Growth Momentum
Growth
EPS 1Y (TTM)62.94%
EPS 3Y-0.69%
EPS 5Y20.06%
EPS Q2Q%38.46%
EPS Next Y18.08%
EPS Next 2Y-4.62%
EPS Next 3Y2.58%
EPS Next 5Y7.78%
Revenue 1Y (TTM)20.97%
Revenue growth 3Y-1.26%
Revenue growth 5Y16.34%
Sales Q2Q%7.76%
Revenue Next Year11.37%
Revenue Next 2Y-2.05%
Revenue Next 3Y1.67%
Revenue Next 5Y2.65%
EBIT growth 1Y602.21%
EBIT growth 3Y-25.72%
EBIT growth 5Y-3%
EBIT Next Year52.77%
EBIT Next 3Y13.38%
EBIT Next 5Y12.39%
FCF growth 1Y-73.12%
FCF growth 3Y17.03%
FCF growth 5Y31.03%
OCF growth 1Y-71.99%
OCF growth 3Y13.43%
OCF growth 5Y29.86%
ENPHASE ENERGY INC / ENPH FAQ
What is the ChartMill fundamental rating of ENPHASE ENERGY INC (ENPH) stock?
ChartMill assigns a fundamental rating of 5 / 10 to ENPH.
Can you provide the valuation status for ENPHASE ENERGY INC?
ChartMill assigns a valuation rating of 8 / 10 to ENPHASE ENERGY INC (ENPH). This can be considered as Undervalued.
What is the profitability of ENPH stock?
ENPHASE ENERGY INC (ENPH) has a profitability rating of 6 / 10.
Can you provide the financial health for ENPH stock?
The financial health rating of ENPHASE ENERGY INC (ENPH) is 4 / 10.