ENPHASE ENERGY INC (ENPH) Stock Fundamental Analysis
USA - NASDAQ:ENPH - US29355A1079 - Common Stock
30.51 USD
+0.38 (+1.26%)
30.4993 USD
-0.01 (-0.04%)
ENPH gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 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 may be a bit undervalued, certainly considering the very reasonable score on growth
1. Profitability
1.1 Basic Checks
ENPH had positive earnings in the past year.
ENPH had a positive operating cash flow in the past year.
In the past 5 years ENPH has always been profitable.
ENPH had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of ENPH (5.89%) is better than 72.32% of its industry peers.
ENPH has a better Return On Equity (19.66%) than 85.71% of its industry peers.
ENPH has a better Return On Invested Capital (8.61%) than 76.79% of its industry peers.
ENPH had an Average Return On Invested Capital over the past 3 years of 10.89%. This is in line with the industry average of 11.03%.
| 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 72.32% of its industry peers.
ENPH's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 14.31%, ENPH is in the better half of 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.
With a Gross Margin value of 49.11%, ENPH perfoms like the industry average, outperforming 59.82% of the companies in the same industry.
ENPH's Gross Margin has improved in the last couple of years.
| 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.
Compared to 1 year ago, ENPH has a worse debt to assets ratio.
2.2 Solvency
ENPH has an Altman-Z score of 2.03. 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 (2.03) than 64.29% 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.
ENPH has a Debt/Equity ratio of 0.57. This is a neutral value indicating ENPH is somewhat dependend on debt financing.
ENPH has a worse Debt to Equity ratio (0.57) than 72.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 5.54 | ||
| Altman-Z | 2.03 |
ROIC/WACC0.82
WACC10.52%
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 69.64% 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.
ENPH has a Quick ratio of 1.88. This is comparable to the rest of the industry: ENPH outperforms 44.64% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.04 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
ENPH shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 62.94%, which is quite impressive.
ENPH shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 20.06% yearly.
The Revenue has grown by 20.97% in the past year. This is a very strong growth!
ENPH shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.34% yearly.
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
Based on estimates for the next years, ENPH will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.53% on average per year.
ENPH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.14% yearly.
EPS Next Y15.7%
EPS Next 2Y0.23%
EPS Next 3Y5.55%
EPS Next 5Y10.53%
Revenue Next Year11.08%
Revenue Next 2Y1.32%
Revenue Next 3Y3.52%
Revenue Next 5Y5.14%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
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
The Price/Earnings ratio is 9.50, which indicates a very decent valuation of ENPH.
ENPH's Price/Earnings ratio is rather cheap when compared to the industry. ENPH is cheaper than 99.11% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.10, ENPH is valued rather cheaply.
The Price/Forward Earnings ratio is 12.81, which indicates a correct valuation of ENPH.
ENPH's Price/Forward Earnings ratio is rather cheap when compared to the industry. ENPH is cheaper than 97.32% of the companies in the same industry.
ENPH is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.52, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.5 | ||
| Fwd PE | 12.81 |
4.2 Price Multiples
93.75% of the companies in the same industry are more expensive than ENPH, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, ENPH is valued cheaply inside the industry as 89.29% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.36 | ||
| EV/EBITDA | 8.71 |
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)0.61
PEG (5Y)0.47
EPS Next 2Y0.23%
EPS Next 3Y5.55%
5. Dividend
5.1 Amount
ENPH does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
30.51
+0.38 (+1.26%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners96.21%
Inst Owner Change-0.87%
Ins Owners3.13%
Ins Owner Change0.18%
Market Cap3.99B
Revenue(TTM)1.51B
Net Income(TTM)195.58M
Analysts63.72
Price Target43.28 (41.86%)
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)22.83%
Min EPS beat(2)8.83%
Max EPS beat(2)36.83%
EPS beat(4)3
Avg EPS beat(4)16.98%
Min EPS beat(4)-5.07%
Max EPS beat(4)36.83%
EPS beat(8)3
Avg EPS beat(8)3.02%
EPS beat(12)6
Avg EPS beat(12)5.66%
EPS beat(16)10
Avg EPS beat(16)9.16%
Revenue beat(2)1
Avg Revenue beat(2)4.49%
Min Revenue beat(2)-1.01%
Max Revenue beat(2)10%
Revenue beat(4)1
Avg Revenue beat(4)1.27%
Min Revenue beat(4)-3.27%
Max Revenue beat(4)10%
Revenue beat(8)1
Avg Revenue beat(8)-2.62%
Revenue beat(12)2
Avg Revenue beat(12)-2.6%
Revenue beat(16)6
Avg Revenue beat(16)-1.56%
PT rev (1m)0.27%
PT rev (3m)-15.31%
EPS NQ rev (1m)3.65%
EPS NQ rev (3m)6.02%
EPS NY rev (1m)1.65%
EPS NY rev (3m)9.58%
Revenue NQ rev (1m)0.98%
Revenue NQ rev (3m)0.59%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)0.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.5 | ||
| Fwd PE | 12.81 | ||
| P/S | 2.64 | ||
| P/FCF | 18.36 | ||
| P/OCF | 15.57 | ||
| P/B | 4.01 | ||
| P/tB | 5.3 | ||
| EV/EBITDA | 8.71 |
EPS(TTM)3.21
EY10.52%
EPS(NY)2.38
Fwd EY7.8%
FCF(TTM)1.66
FCFY5.45%
OCF(TTM)1.96
OCFY6.42%
SpS11.57
BVpS7.61
TBVpS5.76
PEG (NY)0.61
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 | 2.03 |
F-Score8
WACC10.52%
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 Y15.7%
EPS Next 2Y0.23%
EPS Next 3Y5.55%
EPS Next 5Y10.53%
Revenue 1Y (TTM)20.97%
Revenue growth 3Y-1.26%
Revenue growth 5Y16.34%
Sales Q2Q%7.76%
Revenue Next Year11.08%
Revenue Next 2Y1.32%
Revenue Next 3Y3.52%
Revenue Next 5Y5.14%
EBIT growth 1Y602.21%
EBIT growth 3Y-25.72%
EBIT growth 5Y-3%
EBIT Next Year52.77%
EBIT Next 3Y13.38%
EBIT Next 5Y16.15%
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.