ENPH · Intrinsic value
Is Enphase Energy, Inc. (ENPH) overvalued or undervalued?
Enphase Energy, Inc. (ENPH) trades at the delayed market price of $30.61 a share. That price already implies revenue growth of more than 25%/yr. TickerWorth's fair value is $31.89 a share (priced within our range of $13.90 – $39.60). We do not call it over- or undervalued from inside our range.
Model by Miraaj Patel · generated from SEC filings and market data · Updated Oct 19, 2026 · How these pages are made
Is ENPH fairly valued?
- Fair value
- $31.89
- Market price
- $30.61
- Upside to fair value
- +4.2%
- Verdict
- Priced within our range of $13.90 – $39.60
Reverse DCF, on our cash-flow model rather than the fair value above: Today's price implies revenue growth of more than 25%/yr. Above about 25% a year the reverse-DCF stops being informative. It solves for revenue growth alone — holding margins, capital intensity and the forecast horizon fixed — so a price well above our cash-flow model's value has nowhere to go but growth, and the solver returns a rate the model can't reconcile. Read it as "the price implies growth we can't justify", not as a forecast.
What is ENPH's TickerWorth Score?
Middle of the pack — real strengths and real weaknesses
Compared with Technology companies in US
Its strongest point: strong balance sheet. Its weakest: recent price trend has been weak.
- Value · 59 of 100
Cheaper than 59% of Technology companies in US
- Price vs worth · 53 of 100
- Quality · 43 of 100
More profitable than 43% of Technology companies in US
- Financial health · 70 of 100
Financially stronger than 70% of Technology companies in US
- Growth · 39 of 100
Growing faster than 39% of Technology companies in US
- Momentum · 12 of 100
Outperformed 12% of Technology companies in US over the past year
Confidence: Medium confidence · Scored
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ENPH DCF valuation, input by input
TickerWorth's fair value for Enphase Energy, Inc. (ENPH) is $31.89 a share, against the delayed market price of $30.61 (priced within our range of $13.90 – $39.60). We do not call it over- or undervalued from inside our range. It is a model estimate, and every input behind it is sourced below.
Read the full reasoning
For this company that blend leans on peer multiples: our discounted-cash-flow model understates a business growing this fast, so read the gap as how the market prices it against comparable companies, not as a finding on cash flow. This is an educational model, not a price target or a recommendation.
The valuation discounts Enphase Energy, Inc.'s projected free cash flows at a weighted-average cost of capital (WACC) of 11.7%, with a long-run terminal growth rate of 2.5%. About 64% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — ENPH would need sustained revenue growth of more than 25%/yr to justify today's price, against about -3.1% a year compounded in our base case. We don't quote a precise figure here, because past about 25% a year the reverse-DCF stops being informative: it solves for revenue growth alone, holding margins, capital intensity and the forecast horizon fixed, so a price well above our fair value has nowhere to go but growth. The honest reading is that the price implies growth this model can't reconcile — not that we forecast it.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, ENPH's modeled DCF value ranges from about $1.01 to $5.04 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what Enphase Energy, Inc. would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of ENPH's intrinsic value. Figures update as new filings and prices come in.
Every input behind ENPH's DCF
| Input | Value |
|---|---|
| Base-year revenueEnphase Energy, Inc. FY2025 10-K (accession 0001463101-26-000013): us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, FY2025 full year. | $1,472,980,000 |
| Base EBIT marginEnphase Energy, Inc. FY2025 10-K (accession 0001463101-26-000013): us-gaap:OperatingIncomeLoss 157,526,000 / revenue 1,472,985,000 = 10.69%, FY2025. | 10.7% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | -10% → -6% → -3% → 0% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 4.7% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 1.65 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesEnphase Energy, Inc. FY2025 10-K (accession 0001463101-26-000013): WeightedAverageNumberOfDilutedSharesOutstanding = 134,886,000 shares, FY2025. | 135M |
| Market priceLast known price · as of 2026-10-19 22:18 UTC | $30.61 |
Change ENPH's assumptions
The discount-rate dial and the editable model
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What does Enphase Energy, Inc. do?
What does it do?
Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control. It operates in the Solar industry (Technology sector), headquartered in United States. The company employs roughly 2,872 people.
How does it make money?
The business turns $1.5B in annual revenue into profit. Out of every $100 of sales, about $18 is left as operating profit (operating margin of 18.0%), after a 30% gross margin on the products/services it sells. After all costs, taxes and interest, 10.1% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks solid: carries modest debt (0.5× equity), comfortably covers its short-term bills (3.5× current ratio), and is currently profitable.
Who at ENPH filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| MORA RICHARD | Director | Open-market sale | $60,547.20 | Form 4 for MORA RICHARD (opens sec.gov in a new tab) | |
| MORA RICHARD | Director | Open-market sale | $73,520.20 | Form 4 for MORA RICHARD (opens sec.gov in a new tab) | |
| Trivedi Shanker | Director | Open-market buy | $53,910.00 | Form 4 for Trivedi Shanker (opens sec.gov in a new tab) | |
| Trivedi Shanker | Director | Grant / award | $249,986.43 | Form 4 for Trivedi Shanker (opens sec.gov in a new tab) | |
| MORA RICHARD | Director | Open-market sale | $44,940.00 | Form 4 for MORA RICHARD (opens sec.gov in a new tab) | |
| Kothandaraman Badrinarayanan | Director, President & CEO | Open-market buy | $296,449.56 | Form 4 for Kothandaraman Badrinarayanan (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Common questions
What is ENPH's intrinsic value?
TickerWorth's blended fair value for Enphase Energy, Inc. (ENPH) is $31.89 per share, versus a market price of $30.61 (priced within our range of $13.90 – $39.60).
Is ENPH overvalued or undervalued?
Priced within our range of $13.90 – $39.60 at $30.61. We don't call ENPH overvalued or undervalued from a range. This is an educational estimate, not advice.
What discount rate is used for ENPH?
A WACC of 11.7% and a terminal growth rate of 2.5%.
Is Enphase Energy stock undervalued?
TickerWorth's fair value for Enphase Energy, Inc. (ENPH) is $31.89 against a market price of $30.61. Our read: Priced within our range of $13.90 – $39.60. This is a model estimate, not investment advice.
Enphase Energy (ENPH) DCF valuation and fair value
Our fair value for Enphase Energy, Inc. (ENPH) is $31.89, built on a 11.7% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into Enphase Energy stock?
Today's price implies revenue growth of more than 25%/yr. Above about 25% a year the reverse-DCF stops being informative. It solves for revenue growth alone — holding margins, capital intensity and the forecast horizon fixed — so a price well above our cash-flow model's value has nowhere to go but growth, and the solver returns a rate the model can't reconcile. Read it as "the price implies growth we can't justify", not as a forecast. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $30.61. A model estimate, not investment advice.
Enphase Energy (ENPH) insider trading
The most recent insider filing (SEC Form 4) for Enphase Energy, Inc. (ENPH): MORA RICHARD, Director, open-market sale on 2026-08-14. The latest filings are listed on this page. A disclosure, not a signal to trade.
Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.