Company Valuation: Enphase Energy, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 22,168 24,681 36,014 17,988 9,279 6,311 6,311 -
Change - 11.34% 45.92% -50.05% -48.42% -31.98% 0% -
Enterprise Value (EV) 1 21,819 24,702 35,692 17,587 8,959 3,886 5,785 5,520
Change - 13.21% 44.49% -50.73% -49.06% -56.63% -0.9% -4.57%
P/E ratio 185x 179x 95.7x 42.9x 91.6x 24.8x 72x 38.3x
PBR 46.8x 56.9x 43.4x 19.2x 11.5x 6.05x 4.73x 3.84x
PEG - 24.29x 1x 3.8x -1.2x 0.3x -1.8x 0.4x
Capitalization / Revenue 28.6x 17.9x 15.5x 7.85x 6.97x 2.85x 5.03x 4.56x
EV / Revenue 28.2x 17.9x 15.3x 7.68x 6.73x 2.64x 4.61x 3.98x
EV / EBITDA 107x 68.1x 49.3x 23.5x 22.2x 8.15x 17.3x 13.5x
EV / EBIT 117x 114x 79.6x 38.1x 116x 24.7x 95x 39.3x
EV / FCF 111x 82.4x 51.1x 30x 18.7x 40.5x 16.7x 15.7x
FCF Yield 0.9% 1.21% 1.96% 3.33% 5.36% 2.47% 6% 6.37%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.95 1.02 2.77 3.08 0.75 1.29 0.67 1.259
Distribution rate - - - - - - - -
Net sales 1 774.4 1,382 2,331 2,291 1,330 1,473 1,255 1,385
EBITDA 1 203.7 362.6 723.8 749 403.3 476.7 334.9 407.5
EBIT 1 186.4 215.8 448.3 461.4 77.29 157.5 60.87 140.5
Net income 1 134 145.4 397.4 438.9 102.7 172.1 89.23 173.6
Net Debt 1 -348.5 21 -322.5 -401.3 -320.2 -308.5 -526.8 -791
Reference price 2 175.47 182.94 264.96 132.14 68.68 48.23 48.23 48.23
Nbr of stocks (in thousands) 1,26,333 1,34,912 1,35,924 1,36,130 1,35,107 1,30,860 1,30,860 -
Announcement Date 09/02/21 08/02/22 07/02/23 06/02/24 04/02/25 03/02/26 - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
42.69x3.98x12.63x-.--% 631.14Cr
15.61x4.41x10.49x-.--% 2.44TCr
-33.18x1.6x34.95x-.--% 2.03TCr
33.16x4.79x20.09x-.--% 1.78TCr
25.47x6.14x20.7x2.04% 1.27TCr
-12.67x1.57x18.1x-.--% 1.19TCr
-14.42x1.24x17.64x-.--% 1.16TCr
22.22x3.3x13.95x - 1.01TCr
39.83x1.51x11.82x0.35% 778.47Cr
-40.45x8.91x82.28x-.--% 739.71Cr
Average 7.82x 3.74x 24.27x 0.27% 1.3TCr
Weighted average by Cap. 6.19x 3.62x 22.47x 0.24%

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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