Enphase Energy, Inc.
ENPHActiveCIK 1463101 · Renewables, RNG & Sustainability Infrastructure
N/A
Market data as of N/A
Financials: LTM / latest available company filings
Sources: FMP, ENPH filings, SEC EDGAR
$4,804
Market cap ($MM)
$4,888
Enterprise value ($MM)
$1,400
Revenue · LTM ($MM)
$207
EBITDA · LTM ($MM)
15%
EBITDA margin
3.5x
EV / revenue
23.7x
EV / EBITDA
0.4x
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01ENPH is a scaled public consolidator in Renewables & RNG, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is AMRC, NEE, CWEN, BEP, BEPC, ORA.
Balance sheet & capacity
Indicative capacity read: 0.4x net debt / EBITDA with EBITDA of $207MM.
$498
Cash & equiv. ($MM)
$573
Total debt ($MM)
$75
Net debt ($MM)
0.4x
Net debt / EBITDA
Valuation
Where it trades against its peer set
ENPH versus the scaled public Renewables, RNG & Sustainability Infrastructure comparables.
Indexed share-price performance
ENPH versus available Renewables, RNG & Sustainability Infrastructure peers and SPY.
-53%
ENPH
N/A
Peer med.
+79%
SPY
Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| Enphase Energy, Inc. | ENPH | $1,400 | $207 | 15% | $4,804 | $4,888 | 3.5x | 23.7x | 0.4x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
ENPH's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
16
Active years
4
Named deals
N/A
Avg / active year
4.0
Acq. cash outflow ($MM)
N/A
Banker read
- 01ENPH reads as a programmatic acquirer: 16 disclosed acquisitions across 4 active years, or 4.0 per active year. The chart shows activity in 3 of the last 4 visible years.
- 02In the last three years, the file shows 6 acquisitions versus 1 in the prior three; recent activity is running above the prior three-year period.
- 03Spend changes the read: $358MM of disclosed spend is concentrated in lumpy years, with FY21 the largest year at $236MM. Recent spend is above the prior three-year period.
Annual acquisitions + disclosed spend
ENPH count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.
Program diagnostics
Recent / prior
6 / 1
Last three years is up 500% vs prior three.
Peak count year
FY21
4 disclosed acquisitions in the peak visible year.
Recent spend
$355MM
is up 14108% vs prior three; peak FY21 at $236MM.
Named evidence
0 rows
0.0% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| No named transactions clear the quality bar in this snapshot. | |||||
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 1 SEC-backed facts across 0 cited filings.
Evidence
Source archive
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
0
Named deal filings
0
Recent SEC filings
0
Evidence clips
0
Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.0 rows+-
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.0 rows+-
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.0 rows+-
Evidence clipsShort excerpts used on the page; expand only when you want the language.0 rows+-
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.