ENPHEnphase Energy, Inc.
Is the price fair?
The yardsticks disagree: cheap against its own 5-year P/E range (23rd percentile) but the cash-flow math implies demanding growth. Treat as fair, not cheap.
Priced for ~16% a year FCF growth. The price already bakes in strong, sustained growth.
Cheap vs its own history: P/E 32.8 vs a 65.0 median over 22 quarters (−50% vs median).
Sector median 30.5× across 203 covered peers. EV/EBIT counts debt as part of the price, so a cash-rich and a borrowed company can be compared on the same footing.
Unless marked, from derived, as of Mar 31, 2026.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The growth-implied estimate assumes a fixed discount rate; capital-heavy sectors look structurally rich on it.
What ENPH's price assumes
Enphase Energy, Inc. trades at 32.8× earnings against 22.3× for the median Solar name, more expensive than its own group.
Trailing P/E · Solar median 22.3 · 1.47× the median: the market pays up for this one
- Price / sales
- 4.45
Price / sales · today's price, trailing year to Mar 31, 2026
- Free cash flow yield
- 2.3%
Free cash flow yield · Solar median 3.2%
- Growth the price implies
- +16%
Growth the price implies · The price pays for +16% free cash flow growth a year for a decade; the business has delivered −44% a year over the last three.
Details›
- Price / booktoday's price, trailing year to Mar 31, 2026
- 5.64
- EV / EBITtoday's price, trailing year to Mar 31, 2026
- 61.1
- EV / salestoday's price, trailing year to Mar 31, 2026
- 4.19
- Technology median P/E459 names
- 37.7
- Solar median P/E9 names
- 22.3
- Free cash flow, trailing twelve months
- $145M
- Market capitalisation
- $6.22B
- 3-year revenue growth
- −19%
- 3-year free cash flow growth
- −44%
| Method | Per share |
|---|---|
| Its own P/E history, lower quartile | $38.03 |
| Its own P/E history, median | $64.95 |
| Its own P/E history, upper quartile | $135.75 |
| 52-week range | $26.12 – $72.33 |
| Today | $32.80 |
Multiples from SEC filings and end-of-day closes; implied growth from a reverse discounted cash flow. Group medians across the names Ryufin tracks.