Enphase Energy, Inc. (ENPH) Financial Statements (2024 and earlier)

Company Profile

Business Address 47281 BAYSIDE PARKWAY
FREMONT, CA 94538
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3674 - Semiconductors and Related Devices (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,800,4921,778,3971,612,8431,417,2961,247,8011,063,471
Cash and cash equivalents278,676286,045473,244337,583495,473251,850
Short-term investments1,521,8161,492,3521,139,5991,079,713752,328811,621
Receivables520,306516,106440,896367,647312,451358,310
Inventory, net of allowances, customer advances and progress billings166,111150,563149,708146,451130,26696,436
Inventory166,111150,563149,708146,451130,26696,436
Contract with customer, asset, after allowance for credit loss38,07334,12732,13028,92126,53724,869
Other undisclosed current assets35,80733,44028,69422,34918,93715,697
Total current assets:2,560,7892,512,6332,264,2711,982,6641,735,9921,558,783
Noncurrent Assets
Operating lease, right-of-use asset22,95421,64721,37918,12816,98719,442
Property, plant and equipment151,657133,268111,36791,80186,77885,073
Intangible assets, net (including goodwill)300,250306,638313,100286,432293,891298,810
Goodwill214,290213,882213,559195,508197,004195,637
Intangible assets, net (excluding goodwill)85,96092,75699,54190,92496,887103,173
Deferred income tax assets234,949222,529204,872178,371174,307180,291
Other noncurrent assets195,283184,138169,291140,439129,153120,878
Total noncurrent assets:905,093868,220820,009715,171701,116704,494
TOTAL ASSETS:3,465,8823,380,8533,084,2802,697,8352,437,1082,263,277
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities504,360502,842421,024381,995302,987290,994
Taxes payable15,728
Employee-related liabilities17,64414,67017,110
Accounts payable79,075106,154125,08592,82390,398104,738
Accrued liabilities425,285396,688295,939255,800197,919169,146
Deferred revenue109,17699,81990,74779,60974,06768,693
Debt93,38392,11590,89289,65488,42987,219
Other undisclosed current liabilities36,68634,51335,556(1,022)14,5276,850
Total current liabilities:743,605729,289638,219550,236480,010453,756
Noncurrent Liabilities
Long-term debt and lease obligation1,201,1141,200,2761,199,4651,198,6271,197,7861,196,950
Long-term debt, excluding current maturities1,201,1141,200,2761,199,4651,198,6271,197,7861,196,950
Liabilities, other than long-term debt548,576481,195421,023338,919308,313281,589
Accounts payable and accrued liabilities144,029111,52195,89073,53067,35459,619
Deferred revenue354,296322,487281,613239,971217,095202,711
Other liabilities50,25147,18743,52025,41823,86419,259
Total noncurrent liabilities:1,749,6901,681,4711,620,4881,537,5461,506,0991,478,539
Total liabilities:2,493,2952,410,7602,258,7072,087,7821,986,1091,932,295
Equity
Equity, attributable to parent972,587970,093825,573610,053450,999330,982
Common stock111111
Treasury stock, value (68,140)     
Additional paid in capital858,039812,618819,119762,012713,473666,511
Accumulated other comprehensive loss(6,852)(6,734)(10,882)(15,542)(11,245)(7,324)
Retained earnings (accumulated deficit)189,539164,20817,335(136,418)(251,230)(328,206)
Total equity:972,587970,093825,573610,053450,999330,982
TOTAL LIABILITIES AND EQUITY:3,465,8823,380,8533,084,2802,697,8352,437,1082,263,277

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues711,118726,016724,652634,713530,196441,292
Cost of revenue(387,776)(399,645)(413,951)(366,797)(311,191)(264,319)
Gross profit:323,342326,371310,701267,916219,005176,973
Operating expenses(153,022)(158,708)(153,741)(132,475)(124,969)(115,149)
Operating income:170,320167,663156,960135,44194,03661,824
Nonoperating income (expense)14,27411,31011,218(1,186)(1,828)(4,417)
Other nonoperating income (expense)(33)4264,777(2,611)(456)(2,141)
Interest and debt expense(2,219)(2,156)(2,279)(2,255)(2,168)(2,736)
Income from continuing operations before equity method investments, income taxes:182,375176,817165,899132,00090,04054,671
Other undisclosed income from continuing operations before income taxes2,2192,1562,2792,2552,1682,736
Income from continuing operations before income taxes:184,594178,973168,178134,25592,20857,407
Income tax expense(27,403)(32,100)(14,425)(19,443)(15,232)(5,586)
Income from continuing operations:157,191146,873153,753114,81276,97651,821
Income before gain (loss) on sale of properties:114,81276,97651,821
Net income available to common stockholders, basic:157,191146,873153,753114,81276,97651,821
Interest on convertible debt1,6511,6046631,6236621,559
Net income available to common stockholders, diluted:158,842148,477154,416116,43577,63853,380

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:157,191146,873153,753114,81276,97651,821
Other comprehensive income (loss)(193)1,079(766)3284751,956
Comprehensive income:156,998147,952152,987115,14077,45153,777
Other undisclosed comprehensive income (loss), net of tax, attributable to parent753,0695,426(4,625)(4,396)(7,260)
Comprehensive income, net of tax, attributable to parent:157,073151,021158,413110,51573,05546,517

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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