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	229.88	265.75	486.2	473.03	357.13
Other Receivables	-	10.1	7.6	2.2	2.1
Receivables	229.88	275.85	493.8	475.23	359.23
Inventory	288.05	165	213.6	149.71	74.4
Prepaid Expenses	576.08	73.73	41.09	26.49	12.18
Restricted Cash	-	95.01	-	-	-
Other Current Assets	-	94.9	-	-	-
Total Current Assets	2,607	2,327	2,444	2,264	1,462
Property, Plant & Equipment	136.8	149.53	162.93	113.55	83.99
Long-Term Investments	-	64.83	79.86	56.78	41.04
Goodwill	214.76	211.57	214.56	213.56	181.25
Other Intangible Assets	22.29	65	93.74	118.74	110.36
Long-Term Accounts Receivable	-	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	222.68	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	217.37	141.53	212.09	247.23	126.78
Current Portion of Long-Term Debt	632.18	101.29	-	90.89	86.05
Current Portion of Leases	-	5.82	5.22	5.37	3.83
Current Income Taxes Payable	-	3.54	8.53	16.15	0.34
Current Unearned Revenue	180.52	237.23	118.3	90.75	62.67
Other Current Liabilities	29.04	80.66	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	-	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	250.5	190.45	185.23	120.33	58.59
Total Liabilities	2,423	2,417	2,399	2,259	1,649
Common Stock	1,087	0	0	0	0
Additional Paid-In Capital	-	1,085	939.34	819.12	837.92
Retained Earnings	-	-245.21	46.27	17.34	-405.74
Comprehensive Income & Other	-	-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	1,204	1,331	1,318	1,315	1,053
Net Cash (Debt)	308.48	291.35	377.27	298.04	-36.75
Net Cash Growth	5.88%	-22.78%	26.59%	-	-
Net Cash Per Share	2.29	2.08	2.63	2.06	-0.26
Filing Date Shares Outstanding	130.97	132.47	135.76	136.5	133.94
Total Common Shares Outstanding	130.97	132.45	135.72	136.44	133.89
Working Capital	1,345	1,667	1,911	1,626	1,023
Book Value Per Share	8.30	6.29	7.25	6.05	3.21
Tangible Book Value	849.98	556.45	675.33	493.27	138.56
Tangible Book Value Per Share	6.49	4.20	4.98	3.62	1.03
Land	-	-	-	0.11	0.11
Buildings	-	19.05	17.06	15.88	12.55
Machinery	-	217.88	197.26	125.08	104.42
Construction In Progress	-	19.31	29.75	31.73	14.33

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