Enphase Energy Inc.
Find Ratings ReportsENPHASE ENERGY INC's gross profit margin for the fourth quarter of its fiscal year 2023 has increased when compared to the same period a year ago. Sales and net income fell significantly, underperforming compared to the average company in its subsector. ENPHASE ENERGY INC is extremely liquid. Currently, the Quick Ratio is 4.11 which clearly shows the ability to cover any short-term cash needs. The company's liquidity has increased from the same period last year.
During the same period, stockholders' equity ("net worth") has increased by 19.14% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is very unlikely to face financial difficulties in the near future.
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Income Statement | Q4 FY23 | Q4 FY22 |
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Net Sales ($mil) | 302.57 | 724.65 |
EBITDA ($mil) | 25.42 | 176.96 |
EBIT ($mil) | 4.58 | 160.95 |
Net Income ($mil) | 20.92 | 153.75 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 1695.03 | 1612.84 |
Total Assets ($mil) | 3383.01 | 3084.28 |
Total Debt ($mil) | 1317.76 | 1314.81 |
Equity ($mil) | 983.62 | 825.57 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 55.36 | 45.09 |
EBITDA Margin | 8.4 | 24.41 |
Operating Margin | 1.51 | 22.21 |
Sales Turnover | 0.68 | 0.76 |
Return on Assets | 12.97 | 12.88 |
Return on Equity | 44.62 | 48.13 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 4.59 | 3.55 |
Debt/Capital | 0.57 | 0.61 |
Interest Expense | 2.27 | 2.28 |
Interest Coverage | 2.02 | 70.62 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 135.72 | 136.44 |
Div / share | 0.0 | 0.0 |
EPS | 0.15 | 1.06 |
Book value / share | 7.25 | 6.05 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 4673002.0 | 5334138.0 |
HOLD. This stock's P/E ratio indicates a significant discount compared to an average of 53.34 for the Computer and Electronic Product Manufacturing subsector and a premium compared to the S&P 500 average of 27.95. To use another comparison, its price-to-book ratio of 15.23 indicates a significant premium versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 23.59. The price-to-sales ratio is well above the S&P 500 average, but well below the subsector average. Upon assessment of these and other key valuation criteria, ENPHASE ENERGY INC proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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ENPH 36.08 | Peers 53.34 | ENPH 21.51 | Peers 44.47 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. ENPH is trading at a significant discount to its peers. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. ENPH is trading at a significant discount to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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ENPH 19.80 | Peers 26.06 | ENPH 4.61 | Peers 1.95 | |||||||||||||||||||||
Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations. ENPH is trading at a significant premium to its peers. |
Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. ENPH trades at a significant premium to its peers. |
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Price/Book |
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Earnings Growth |
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ENPH 15.23 | Peers 23.59 | ENPH 10.46 | Peers 123.02 | |||||||||||||||||||||
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. ENPH is trading at a significant discount to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, ENPH is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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ENPH 6.54 | Peers 14.13 | ENPH -1.72 | Peers 27.20 | |||||||||||||||||||||
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. ENPH is trading at a significant discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. ENPH significantly trails its peers on the basis of sales growth. |
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