Enphase Energy, Inc. (ENPH)

Enphase Energy Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	135	172.13	102.66	438.94	397.36	145.45
Depreciation & Amortization	81.55	80.65	81.39	74.71	58.78	30.85
Stock-Based Compensation	207.45	214.09	211.36	212.86	216.8	114.29
Other Adjustments	28.32	22.57	-24.72	-46.85	9.75	46.38
Change in Receivables	43.64	3.84	211.64	-12.48	-107.56	-151.16
Changes in Inventories	-146.68	-123.04	48.59	-63.89	-75.27	-29.26
Changes in Accounts Payable	-33.22	139.14	-85.54	-22.15	133.42	117.18
Changes in Unearned Revenue	-38.16	-75.43	98.85	117.78	122.19	78.17
Changes in Other Operating Activities	-86.91	-297.4	-130.54	-2.14	-10.65	0.13
Operating Cash Flow	191	136.54	513.69	696.78	744.82	352.03
Operating Cash Flow Growth	-62.76%	-73.42%	-26.28%	-6.45%	111.58%	62.72%
Capital Expenditures	-45.93	-40.64	-33.6	-110.4	-46.44	-52.26
Purchases of Intangible Assets	-	-	-	-	-	-0.25
Purchases of Investments	-558.1	-765.83	-1,185	-2,096	-923.43	-992.96
Proceeds from Sale of Investments	1,224	961.76	1,347	1,840	660.13	61.57
Payments for Business Acquisitions	-	-	-	-	-62.16	-235.65
Other Investing Activities	-49.5	-48.5	-	-	-	-
Investing Cash Flow	570.12	106.79	128.27	-366.36	-371.91	-1,220
Long-Term Debt Issued	-	-	-	-	-	1,188
Long-Term Debt Repaid	-632.5	-102.17	-0.01	-	-	-291.94
Net Long-Term Debt Issued (Repaid)	-632.5	-102.17	-0.01	-	-	896.5
Issuance of Common Stock	8.46	8.53	12.69	13.87	10.37	7.48
Repurchase of Common Stock	-54.6	-147.98	-472.95	-530.64	-27.5	-529.14
Net Common Stock Issued (Repurchased)	-46.14	-139.46	-460.26	-516.77	-17.13	-521.65
Other Financing Activities	-	-	-	-	-	-65.44
Financing Cash Flow	-678.64	-241.62	-460.27	-516.77	-17.13	309.41
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-0.02	8.49	-6.32	1.85	-1.86	-1.96
Net Cash Flow	82.46	10.2	175.37	-184.5	353.93	-560.06
Free Cash Flow	145.07	95.9	480.09	586.38	698.37	299.77
Free Cash Flow Growth	51.27%	-80.02%	-18.13%	-16.04%	132.97%	53.12%
FCF Margin	10.36%	6.51%	36.09%	25.60%	29.96%	21.69%
Free Cash Flow Per Share	1.09	0.71	3.43	4.09	4.84	2.10
Levered Free Cash Flow	-766.84	-246.76	81.8	432.85	579.38	1,187
Unlevered Free Cash Flow	-179.41	-184.34	45.18	375.2	576.05	404.41

Updated Mar 31, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q