Enphase Energy Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	474.32	369.11	288.75	473.24	119.32
Short-Term Investments	1,039	1,253	1,406	1,140	897.34
Cash & Short-Term Investments	1,513	1,623	1,695	1,613	1,017
Cash Growth	-6.76%	-4.27%	5.10%	58.64%	49.64%
Accounts Receivable	265.86	265.75	486.2	473.03	357.13
Other Receivables	137.7	67.64	7.6	2.2	2.1
Receivables	451.88	333.39	493.8	475.23	359.23
Inventory	288.05	165	213.6	149.71	74.4
Prepaid Expenses	354.08	111.09	41.09	26.49	12.18
Restricted Cash	-	95.01	-	-	-
Total Current Assets	2,607	2,327	2,444	2,264	1,462
Property, Plant & Equipment	153.88	149.53	162.93	113.55	83.99
Long-Term Investments	61.35	64.83	79.86	56.78	41.04
Goodwill	214.76	211.57	214.56	213.56	181.25
Other Intangible Assets	39.79	65	93.74	118.74	110.36
Long-Term Accounts Receivable	115.07	110.95	124.19	100.99	69.58
Long-Term Deferred Tax Assets	306.4	315.57	252.37	204.87	122.47
Other Long-Term Assets	11.69	5.14	11.85	11.52	8.1
Total Assets	3,510	3,250	3,383	3,084	2,079
Accounts Payable	203.04	90.03	116.16	125.09	113.77
Accrued Expenses	141.26	131.7	212.09	247.23	126.78
Current Portion of Long-Term Debt	632.18	101.29	-	90.89	86.05
Current Portion of Leases	8.21	5.82	5.22	5.37	3.83
Current Income Taxes Payable	4.92	3.54	8.53	16.15	0.34
Current Unearned Revenue	180.52	237.23	118.3	90.75	62.67
Other Current Liabilities	92.02	90.49	72.14	62.75	46.36
Total Current Liabilities	1,262	660.09	532.45	638.22	439.8
Long-Term Debt	572.19	1,201	1,294	1,199	951.59
Long-Term Leases	31.2	23.04	18.8	19.08	11.92
Long-Term Unearned Revenue	337.92	341.98	369.17	281.61	187.19
Other Long-Term Liabilities	219.31	190.45	185.23	120.33	58.59
Total Liabilities	2,423	2,417	2,399	2,259	1,649
Common Stock	0	0	0	0	0
Additional Paid-In Capital	1,289	1,085	939.34	819.12	837.92
Retained Earnings	-203.9	-245.21	46.27	17.34	-405.74
Comprehensive Income & Other	1.75	-6.35	-1.99	-10.88	-2.02
Shareholders' Equity	1,087	833.02	983.62	825.57	430.17
Total Liabilities & Equity	3,510	3,250	3,383	3,084	2,079
Total Debt	1,244	1,331	1,318	1,315	1,053
Net Cash (Debt)	269.07	291.35	377.27	298.04	-36.75
Net Cash Growth	-7.65%	-22.78%	26.59%	-	-
Net Cash Per Share	1.99	2.08	2.63	2.06	-0.26
Filing Date Shares Outstanding	131.1	132.47	135.76	136.5	133.94
Total Common Shares Outstanding	131.08	132.45	135.72	136.44	133.89
Working Capital	1,345	1,667	1,911	1,626	1,023
Book Value Per Share	8.29	6.29	7.25	6.05	3.21
Tangible Book Value	832.48	556.45	675.33	493.27	138.56
Tangible Book Value Per Share	6.35	4.20	4.98	3.62	1.03
Land	-	-	-	0.11	0.11
Buildings	-	-	17.06	15.88	12.55
Machinery	242.91	217.88	197.26	125.08	104.42
Construction In Progress	10.46	19.31	29.75	31.73	14.33
Leasehold Improvements	32.86	19.05	-	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.