Company Valuation: Enphase Energy, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,681 36,014 17,988 9,279 4,194 5,201 - -
Change - 45.92% -50.05% -48.42% -54.8% 24% - -
Enterprise Value (EV) 1 24,702 35,692 17,587 8,959 3,886 4,601 4,387 4,033
Change - 44.49% -50.73% -49.06% -56.63% 18.4% -4.65% -8.05%
P/E 179x 95.7x 42.9x 91.6x 24.8x 110x 40.3x 30.1x
PBR 56.9x 43.4x 19.2x 11.5x 3.86x 4.3x 3.62x 3.17x
PEG - 1x 3.8x -1.2x 0.3x -1.5x 0x 0.9x
Capitalization / Revenue 17.9x 15.5x 7.85x 6.97x 2.85x 4.34x 4.01x 3.59x
EV / Revenue 17.9x 15.3x 7.68x 6.73x 2.64x 3.84x 3.38x 2.79x
EV / EBITDA 68.1x 49.3x 23.5x 22.2x 8.15x 14.9x 12.1x 9.11x
EV / EBIT 114x 79.6x 38.1x 116x 24.7x -527x 58.9x 24.3x
EV / FCF 82.4x 51.1x 30x 18.7x 40.5x 10.8x 13.5x 12.3x
FCF Yield 1.21% 1.96% 3.33% 5.36% 2.47% 9.3% 7.42% 8.15%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 1.02 2.77 3.08 0.75 1.29 0.359 0.9783 1.31
Distribution rate - - - - - - - -
Net sales 1 1,382 2,331 2,291 1,330 1,473 1,200 1,297 1,448
EBITDA 1 362.6 723.8 749 403.3 476.7 307.8 363.3 442.5
EBIT 1 215.8 448.3 461.4 77.29 157.5 -8.725 74.47 166.3
Net income 1 145.4 397.4 438.9 102.7 172.1 49.53 138.3 187.9
Net Debt 1 21 -322.5 -401.3 -320.2 -308.5 -600.3 -814 -1,167
Reference price 2 182.94 264.96 132.14 68.68 32.05 39.46 39.46 39.46
Nbr of stocks (in thousands) 134,912 135,924 136,130 135,107 130,860 131,798 - -
Announcement Date 2/8/22 2/7/23 2/6/24 2/4/25 2/3/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
109.92x3.84x14.95x-.--% 5.2B
11.85x3.81x7.55x-.--% 22.06B
27.3x3.22x15.16x-.--% 15.2B
18.11x4.52x15.58x2.47% 14.93B
-65.02x0.87x10.48x0.04% 13.39B
19.72x2.92x12.27x - 8.43B
-10.49x1.18x10.81x-.--% 6.89B
-42.92x0.81x6.24x-.--% 6.32B
-7.89x2.52x14.92x-.--% 5.22B
34.1x6.51x21.87x - 5.11B
Average 9.47x 3.02x 12.98x 0.31% 10.28B
Weighted average by Cap. 5.87x 3.08x 12.21x 0.42%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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