ENPHASE ENERGY INC (ENPH)
US29355A1079 - Common Stock
Overall ENPH gets a fundamental rating of 5 out of 10. We evaluated ENPH against 108 industry peers in the Semiconductors & Semiconductor Equipment industry. ENPH has only an average score on both its financial health and profitability. ENPH has a decent growth rate and is not valued too expensively.
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
ENPH has a Return On Assets (1.88%) which is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 6.59%, ENPH is in line with its industry, outperforming 59.26% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 0.99%, ENPH is in line with its industry, outperforming 49.07% of the companies in the same industry.
ENPH had an Average Return On Invested Capital over the past 3 years of 13.93%. This is above the industry average of 11.24%.
The last Return On Invested Capital (0.99%) for ENPH is well below the 3 year average (13.93%), which needs to be investigated, but indicates that ENPH had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.88% | ||
| ROE | 6.59% | ||
| ROIC | 0.99% |
ROA(3y)10.95%
ROA(5y)13.32%
ROE(3y)42.19%
ROE(5y)42.69%
ROIC(3y)13.93%
ROIC(5y)16.76%
1.3 Margins
ENPH's Profit Margin of 4.91% is in line compared to the rest of the industry. ENPH outperforms 55.56% of its industry peers.
In the last couple of years the Profit Margin of ENPH has grown nicely.
The Operating Margin of ENPH (2.47%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of ENPH has grown nicely.
The Gross Margin of ENPH (46.19%) is comparable to the rest of the industry.
ENPH's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 2.47% | ||
| PM (TTM) | 4.91% | ||
| GM | 46.19% |
OM growth 3Y-5.77%
OM growth 5Y62.05%
PM growth 3Y3.46%
PM growth 5YN/A
GM growth 3Y1.12%
GM growth 5Y9.13%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ENPH is destroying value.
Compared to 1 year ago, ENPH has less shares outstanding
ENPH has more shares outstanding than it did 5 years ago.
The debt/assets ratio for ENPH has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 3.32 indicates that ENPH is not in any danger for bankruptcy at the moment.
ENPH has a Altman-Z score (3.32) which is in line with its industry peers.
The Debt to FCF ratio of ENPH is 3.87, which is a good value as it means it would take ENPH, 3.87 years of fcf income to pay off all of its debts.
With a decent Debt to FCF ratio value of 3.87, ENPH is doing good in the industry, outperforming 62.04% of the companies in the same industry.
ENPH has a Debt/Equity ratio of 1.29. This is a high value indicating a heavy dependency on external financing.
ENPH's Debt to Equity ratio of 1.29 is on the low side compared to the rest of the industry. ENPH is outperformed by 88.89% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.29 | ||
| Debt/FCF | 3.87 | ||
| Altman-Z | 3.32 |
ROIC/WACC0.07
WACC14.06%
2.3 Liquidity
ENPH has a Current Ratio of 4.16. This indicates that ENPH is financially healthy and has no problem in meeting its short term obligations.
With a decent Current ratio value of 4.16, ENPH is doing good in the industry, outperforming 66.67% of the companies in the same industry.
ENPH has a Quick Ratio of 3.88. This indicates that ENPH is financially healthy and has no problem in meeting its short term obligations.
ENPH's Quick ratio of 3.88 is fine compared to the rest of the industry. ENPH outperforms 71.30% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 4.16 | ||
| Quick Ratio | 3.88 |
3. Growth
3.1 Past
The earnings per share for ENPH have decreased strongly by -63.31% in the last year.
The Earnings Per Share has been growing by 117.69% on average over the past years. This is a very strong growth
The Revenue for ENPH has decreased by -53.91% in the past year. This is quite bad
The Revenue has been growing by 48.60% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-63.31%
EPS 3Y47.9%
EPS 5Y117.69%
EPS Q2Q%-36.27%
Revenue 1Y (TTM)-53.91%
Revenue growth 3Y43.55%
Revenue growth 5Y48.6%
Sales Q2Q%-30.89%
3.2 Future
The Earnings Per Share is expected to grow by 12.42% on average over the next years. This is quite good.
The Revenue is expected to grow by 6.11% on average over the next years.
EPS Next Y-51.3%
EPS Next 2Y-7.71%
EPS Next 3Y3.66%
EPS Next 5Y12.42%
Revenue Next Year-42.48%
Revenue Next 2Y-13.53%
Revenue Next 3Y-3.85%
Revenue Next 5Y6.11%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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
Based on the Price/Earnings ratio of 35.98, the valuation of ENPH can be described as expensive.
Based on the Price/Earnings ratio, ENPH is valued a bit cheaper than the industry average as 63.89% of the companies are valued more expensively.
ENPH's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.42.
A Price/Forward Earnings ratio of 18.91 indicates a rather expensive valuation of ENPH.
Based on the Price/Forward Earnings ratio, ENPH is valued a bit cheaper than 79.63% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of ENPH to the average of the S&P500 Index (22.56), we can say ENPH is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 35.98 | ||
| Fwd PE | 18.91 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as ENPH.
80.56% 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 | 28.48 | ||
| EV/EBITDA | 61.53 |
4.3 Compensation for Growth
ENPH has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.31
EPS Next 2Y-7.71%
EPS Next 3Y3.66%
5. Dividend
5.1 Amount
No dividends for ENPH!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
ENPHASE ENERGY INC
NASDAQ:ENPH (12/20/2024, 2:10:03 PM)
70.8746
+5.07 (+7.71%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners85.07%
Inst Owner Change2.84%
Ins Owners11.65%
Ins Owner Change-0.05%
Market Cap9.58B
Analysts68.09
Price Target98.14 (38.47%)
Short Float %14.66%
Short Ratio3.74
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-14.22%
Min EPS beat(2)-16.87%
Max EPS beat(2)-11.56%
EPS beat(4)0
Avg EPS beat(4)-10.94%
Min EPS beat(4)-16.87%
Max EPS beat(4)-4.09%
EPS beat(8)3
Avg EPS beat(8)0.01%
EPS beat(12)7
Avg EPS beat(12)6.56%
EPS beat(16)11
Avg EPS beat(16)10.52%
Revenue beat(2)0
Avg Revenue beat(2)-4.38%
Min Revenue beat(2)-4.77%
Max Revenue beat(2)-3.99%
Revenue beat(4)0
Avg Revenue beat(4)-6.51%
Min Revenue beat(4)-9.54%
Max Revenue beat(4)-3.99%
Revenue beat(8)1
Avg Revenue beat(8)-4.54%
Revenue beat(12)5
Avg Revenue beat(12)-2.5%
Revenue beat(16)8
Avg Revenue beat(16)-1.69%
PT rev (1m)-22.15%
PT rev (3m)-23.78%
EPS NQ rev (1m)1.2%
EPS NQ rev (3m)-30.5%
EPS NY rev (1m)-0.56%
EPS NY rev (3m)-17.96%
Revenue NQ rev (1m)0.02%
Revenue NQ rev (3m)-19.96%
Revenue NY rev (1m)-0.22%
Revenue NY rev (3m)-4.91%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 35.98 | ||
| Fwd PE | 18.91 | ||
| P/S | 7.66 | ||
| P/FCF | 28.48 | ||
| P/OCF | 25.08 | ||
| P/B | 10.28 | ||
| P/tB | 14.38 | ||
| EV/EBITDA | 61.53 |
EPS(TTM)1.97
EY2.78%
EPS(NY)3.75
Fwd EY5.29%
FCF(TTM)2.49
FCFY3.51%
OCF(TTM)2.83
OCFY3.99%
SpS9.25
BVpS6.89
TBVpS4.93
PEG (NY)N/A
PEG (5Y)0.31
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.88% | ||
| ROE | 6.59% | ||
| ROCE | 1.14% | ||
| ROIC | 0.99% | ||
| ROICexc | 2.87% | ||
| ROICexgc | 4.02% | ||
| OM | 2.47% | ||
| PM (TTM) | 4.91% | ||
| GM | 46.19% | ||
| FCFM | 26.89% |
ROA(3y)10.95%
ROA(5y)13.32%
ROE(3y)42.19%
ROE(5y)42.69%
ROIC(3y)13.93%
ROIC(5y)16.76%
ROICexc(3y)37.51%
ROICexc(5y)N/A
ROICexgc(3y)59.03%
ROICexgc(5y)N/A
ROCE(3y)16.06%
ROCE(5y)19.33%
ROICexcg growth 3YN/A
ROICexcg growth 5Y19.62%
ROICexc growth 3YN/A
ROICexc growth 5Y43.38%
OM growth 3Y-5.77%
OM growth 5Y62.05%
PM growth 3Y3.46%
PM growth 5YN/A
GM growth 3Y1.12%
GM growth 5Y9.13%
F-Score6
Asset Turnover0.38
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.29 | ||
| Debt/FCF | 3.87 | ||
| Debt/EBITDA | 10.68 | ||
| Cap/Depr | 55.98% | ||
| Cap/Sales | 3.65% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 339.88% | ||
| Profit Quality | 547.47% | ||
| Current Ratio | 4.16 | ||
| Quick Ratio | 3.88 | ||
| Altman-Z | 3.32 |
F-Score6
WACC14.06%
ROIC/WACC0.07
Cap/Depr(3y)129.57%
Cap/Depr(5y)121.5%
Cap/Sales(3y)3.54%
Cap/Sales(5y)3.13%
Profit Quality(3y)171.77%
Profit Quality(5y)147.7%
High Growth Momentum
Growth
EPS 1Y (TTM)-63.31%
EPS 3Y47.9%
EPS 5Y117.69%
EPS Q2Q%-36.27%
EPS Next Y-51.3%
EPS Next 2Y-7.71%
EPS Next 3Y3.66%
EPS Next 5Y12.42%
Revenue 1Y (TTM)-53.91%
Revenue growth 3Y43.55%
Revenue growth 5Y48.6%
Sales Q2Q%-30.89%
Revenue Next Year-42.48%
Revenue Next 2Y-13.53%
Revenue Next 3Y-3.85%
Revenue Next 5Y6.11%
EBIT growth 1Y-94.99%
EBIT growth 3Y35.28%
EBIT growth 5Y140.79%
EBIT Next Year-28.96%
EBIT Next 3Y15.54%
EBIT Next 5Y17.97%
FCF growth 1Y-38.3%
FCF growth 3Y44.17%
FCF growth 5Y118.04%
OCF growth 1Y-35.08%
OCF growth 3Y47.69%
OCF growth 5Y112.45%