ENPHASE ENERGY INC (ENPH) Stock Fundamental Analysis
USA - NASDAQ:ENPH - US29355A1079 - Common Stock
27.53 USD
-1.15 (-4.01%)
27.6499 USD
+0.12 (+0.44%)
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 is valued quite cheap, while showing a decent growth score. This is a good combination!
1. Profitability
1.1 Basic Checks
In the past year ENPH was profitable.
In the past year ENPH had a positive cash flow from operations.
In the past 5 years ENPH has always been profitable.
Each year in the past 5 years ENPH had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 5.89%, ENPH is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
ENPH's Return On Equity of 19.66% is amongst the best of the industry. ENPH outperforms 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.
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 10.86%.
| 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.
ENPH's Profit Margin has declined in the last couple of years.
ENPH's Operating Margin of 14.31% is fine compared to the rest of the industry. ENPH outperforms 72.32% of its industry peers.
ENPH's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 49.11%, ENPH perfoms like the industry average, outperforming 59.82% of the companies in the same industry.
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.
The number of shares outstanding for ENPH has been reduced compared to 1 year ago.
Compared to 5 years ago, ENPH has more shares outstanding
Compared to 1 year ago, ENPH has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 1.98 indicates that ENPH is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 1.98, ENPH is doing worse than 64.29% of the companies in the same industry.
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.
With a Debt to FCF ratio value of 5.54, ENPH perfoms like the industry average, outperforming 56.25% of the companies in the same industry.
A Debt/Equity ratio of 0.57 indicates that ENPH is somewhat dependend on debt financing.
The Debt to Equity ratio of ENPH (0.57) is worse than 70.54% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 5.54 | ||
| Altman-Z | 1.98 |
ROIC/WACC0.92
WACC9.36%
2.3 Liquidity
A Current Ratio of 2.04 indicates that ENPH has no problem at all paying its short term obligations.
ENPH's Current ratio of 2.04 is on the low side compared to the rest of the industry. ENPH is outperformed by 71.43% of its industry peers.
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.
Looking at the Quick ratio, with a value of 1.88, ENPH is in line with its industry, outperforming 44.64% of the companies in the same industry.
| 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!
Measured over the past years, ENPH shows a quite strong growth in Revenue. The Revenue has been growing by 16.34% on average per year.
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
Based on the Price/Earnings ratio of 8.58, the valuation of ENPH can be described as reasonable.
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.
When comparing the Price/Earnings ratio of ENPH to the average of the S&P500 Index (25.56), we can say ENPH is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 12.77, the valuation of ENPH can be described as correct.
ENPH's Price/Forward Earnings ratio is rather cheap when compared to the industry. ENPH is cheaper than 92.86% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 34.62, ENPH is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.58 | ||
| Fwd PE | 12.77 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ENPH indicates a rather cheap valuation: ENPH is cheaper than 93.75% of the companies listed in the same industry.
88.39% of the companies in the same industry are more expensive than ENPH, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.57 | ||
| EV/EBITDA | 8.07 |
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.
The decent profitability rating of ENPH may justify a higher PE ratio.
PEG (NY)0.47
PEG (5Y)0.43
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 |
27.53
-1.15 (-4.01%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners96.21%
Inst Owner Change1.49%
Ins Owners3.13%
Ins Owner Change-0.54%
Market Cap3.60B
Revenue(TTM)1.51B
Net Income(TTM)195.58M
Analysts63.81
Price Target43.28 (57.21%)
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)0.79%
PT rev (3m)2.5%
EPS NQ rev (1m)-15.75%
EPS NQ rev (3m)-13.09%
EPS NY rev (1m)3.75%
EPS NY rev (3m)11.84%
Revenue NQ rev (1m)-9.18%
Revenue NQ rev (3m)-8.74%
Revenue NY rev (1m)0.33%
Revenue NY rev (3m)0.53%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.58 | ||
| Fwd PE | 12.77 | ||
| P/S | 2.38 | ||
| P/FCF | 16.57 | ||
| P/OCF | 14.05 | ||
| P/B | 3.62 | ||
| P/tB | 4.78 | ||
| EV/EBITDA | 8.07 |
EPS(TTM)3.21
EY11.66%
EPS(NY)2.16
Fwd EY7.83%
FCF(TTM)1.66
FCFY6.04%
OCF(TTM)1.96
OCFY7.12%
SpS11.57
BVpS7.61
TBVpS5.76
PEG (NY)0.47
PEG (5Y)0.43
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 | 1.98 |
F-Score8
WACC9.36%
ROIC/WACC0.92
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.