Enphase Energy Inc

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ENPH : NASDAQ : Technology
$0.8633 | %
Today's Range: 0.83 - 0.8989
Avg. Daily Volume: 858800.0
07/21/17 - 4:00 PM ET

Financial Analysis


ENPHASE ENERGY INC's gross profit margin for the first quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. Sales and net income have dropped, although the growth in revenues underperformed the average competitor within the industry, the net income growth did not. ENPHASE ENERGY INC has average liquidity. Currently, the Quick Ratio is 1.44 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

At the same time, stockholders' equity ("net worth") has significantly decreased by 70.77% from the same quarter last year. Together, the key liquidity measurements indicate that it is relatively unlikely that the company will face financial difficulties in the near future.

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Income Statement Q1 FY17 Q1 FY16
Net Sales ($mil)54.7564.12
EBITDA ($mil)-12.52-16.41
EBIT ($mil)-14.85-19.09
Net Income ($mil)-23.31-18.8


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)29.9613.02
Total Assets ($mil)167.51158.52
Total Debt ($mil)46.8820.0
Equity ($mil)7.4725.56


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin17.1222.52
EBITDA Margin-22.86-25.58
Operating Margin-27.12-29.77
Sales Turnover1.872.11
Return on Assets-42.96-21.79
Return on Equity-963.35-135.19
Debt Q1 FY17 Q1 FY16
Current Ratio2.251.41
Debt/Capital0.860.44
Interest Expense2.140.15
Interest Coverage-6.94-125.58


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)84.2846.36
Div / share0.00.0
EPS-0.3-0.41
Book value / share0.090.55
Institutional Own % n/a n/a
Avg Daily Volume835160.0910917.0

Valuation


SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. For additional comparison, its price-to-book ratio of 9.14 indicates a significant premium versus the S&P 500 average of 3.04 and a significant premium versus the industry average of 4.37. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. After reviewing these and other key valuation criteria, ENPHASE ENERGY INC proves to trade at a premium to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
ENPH NM Peers 24.10   ENPH NM Peers 63.73

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

ENPH's P/E is negative making this valuation measure meaningless.

 

Neutral. 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's P/CF is negative making the measure meaningless.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
ENPH NM Peers 20.92   ENPH NA Peers 1.80

Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings.

ENPH's ratio is negative making this valuation measure meaningless.

 

Neutral. 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.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
ENPH 9.14 Peers 4.37   ENPH -67.10 Peers 12.14

Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

ENPH is trading at a significant premium 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.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
ENPH 0.22 Peers 2.51   ENPH -6.43 Peers -1.71

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 industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

ENPH significantly trails its peers on the basis of sales growth

 

 

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