ENPH: financial statements from SEC

Income statement

Metric	31/12/2025	31/12/2024
Revenue	1.47B	1.33B
Cost of revenue	786M	701M
Gross profit	687M	629M
Research and development	189M	201M
Selling, general and administrative	136M	131M
Operating expenses	529M	552M
Operating income	158M	77M
Pre-tax income	205M	120M
Income tax	33M	18M
Net income	172M	103M
Earnings per share	1.31	0.76
Earnings per share, diluted	1.29	0.75
Weighted average shares	131M	135M
Weighted average shares, diluted	135M	140M

Metric	31/03/2026	31/12/2025	30/09/2025	30/06/2025	31/03/2025	31/12/2024	30/09/2024	30/06/2024
Cash and equivalents	498M	474M	402M	371M	350M	369M	256M	252M
Short-term investments	433M	1.04B	1.08B	1.16B	1.12B	1.25B	1.51B	1.39B
Receivables	197M	230M	266M	223M	226M	224M	232M	277M
Inventory	291M	288M	189M	173M	144M	165M	159M	176M
Current assets	1.83B	2.61B	2.39B	2.29B	2.20B	2.33B	2.36B	2.24B
Property, plant and equipment	139M	137M	131M	137M	142M	148M	148M	152M
Goodwill	214M	215M	214M	215M	212M	212M	214M	213M
Total assets	2.72B	3.51B	3.32B	3.18B	3.11B	3.25B	3.26B	3.17B
Current liabilities	482M	1.26B	1.17B	1.16B	1.16B	660M	567M	530M
Short-term debt	0	632M	632M	631M	631M	101M	100M	99M
Long-term debt	573M	572M	572M	572M	571M	1.20B	1.20B	1.20B
Total liabilities	1.62B	2.42B	2.33B	2.30B	2.30B	2.42B	2.33B	2.28B
Equity	1.10B	1.09B	995M	881M	811M	833M	931M	885M
Shares outstanding	132M	131M	131M	131M	131M	132M	135M	135M
Shares issued	132M	131M	131M	131M	131M	132M	135M	135M

Metric	31/12/2025	31/12/2024
Operating cash flow	137M	514M
Depreciation and amortisation	81M	81M
Share-based compensation	214M	211M
Capital expenditure	41M	34M
Investing cash flow	107M	128M
Share buybacks	130M	391M
Financing cash flow	−242M	−460M