Enphase Energy annual free cash flow
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2023
2024
2025
Enphase Energy Free Cash Flow (FCF) History (ENPH)
Enphase Energy reported $95.9M in free cash flow for fiscal 2025, a decrease of 80.02% from the previous fiscal year, with a free cash flow margin of 6.51%.
View full Enphase Energy company overviewEnphase Energy free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $95.9M | −$384.2M | −80.02% | +6.51% |
| 2024 | 2024-12-31 | $480.1M | −$106.3M | −18.13% | +36.09% |
| 2023 | 2023-12-31 | $586.4M | −$112.0M | −16.04% | +25.60% |
| 2022 | 2022-12-31 | $698.4M | $398.6M | +132.97% | +29.96% |
| 2021 | 2021-12-31 | $299.8M | $104.0M | +53.12% | +21.69% |
| 2020 | 2020-12-31 | $195.8M | $71.5M | +57.53% | +25.28% |
| 2019 | 2019-12-31 | $124.3M | $156.8M | — | +19.91% |
| 2017 | 2017-12-31 | −$32.6M | $12.6M | — | −11.38% |
| 2016 | 2016-12-31 | −$45.1M | −$11.4M | — | −13.99% |
| 2015 | 2015-12-31 | −$33.7M | −$44.7M | — | −9.43% |
| 2014 | 2014-12-31 | $11.0M | $18.1M | — | +3.19% |
| 2013 | 2013-12-31 | −$7.1M | $50.5M | — | −3.06% |
| 2012 | 2012-12-31 | −$57.6M | −$42.6M | — | −26.60% |
| 2011 | 2011-12-31 | −$15.0M | $6.1M | — | −10.05% |
| 2010 | 2010-12-31 | −$21.1M | — | — | −34.24% |
Enphase Energy quarterly free cash flow
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
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Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
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Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
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Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q1 2026 | 2026-03-31 | $83.0M | $49.2M | +145.44% | +29.33% |
| Q4 2025 | 2025-12-31 | $37.8M | −$121.4M | −76.24% | +11.02% |
| Q3 2025 | 2025-09-30 | $5.9M | −$155.7M | −96.36% | +1.43% |
| Q2 2025 | 2025-06-30 | $18.4M | −$99.1M | −84.36% | +5.06% |
| Q1 2025 | 2025-03-31 | $33.8M | −$8.0M | −19.18% | +9.49% |
| Q4 2024 | 2024-12-31 | $159.2M | $143.9M | +935.63% | +41.61% |
| Q3 2024 | 2024-09-30 | $161.6M | $39.6M | +32.46% | +42.43% |
| Q2 2024 | 2024-06-30 | $117.4M | −$107.8M | −47.87% | +38.70% |
| Q1 2024 | 2024-03-31 | $41.8M | −$181.9M | −81.31% | +15.88% |
| Q4 2023 | 2023-12-31 | $15.4M | −$221.9M | −93.52% | +5.08% |
| Q3 2023 | 2023-09-30 | $122.0M | −$57.1M | −31.86% | +22.14% |
| Q2 2023 | 2023-06-30 | $225.2M | $33.3M | +17.34% | +31.67% |
| Q1 2023 | 2023-03-31 | $223.8M | $133.7M | +148.43% | +30.82% |
| Q4 2022 | 2022-12-31 | $237.3M | $153.3M | +182.60% | +32.74% |
| Q3 2022 | 2022-09-30 | $179.1M | $78.4M | +77.87% | +28.21% |
| Q2 2022 | 2022-06-30 | $192.0M | $142.7M | +289.91% | +36.21% |
| Q1 2022 | 2022-03-31 | $90.1M | $24.2M | +36.67% | +20.41% |
| Q4 2021 | 2021-12-31 | $84.0M | $8.6M | +11.46% | +20.34% |
| Q3 2021 | 2021-09-30 | $100.7M | $37.1M | +58.29% | +28.64% |
| Q2 2021 | 2021-06-30 | $49.2M | $28.3M | +134.66% | +15.58% |
| Q1 2021 | 2021-03-31 | $65.9M | $30.0M | +83.73% | +21.84% |
| Q4 2020 | 2020-12-31 | $75.3M | −$19.5M | −20.58% | +28.44% |
| Q3 2020 | 2020-09-30 | $63.6M | $62.8M | +8170.22% | +35.63% |
| Q2 2020 | 2020-06-30 | $21.0M | $8.7M | +71.21% | +16.71% |
| Q1 2020 | 2020-03-31 | $35.9M | $19.5M | +118.65% | +17.45% |
| Q4 2019 | 2019-12-31 | $94.9M | $88.9M | +1505.74% | +45.16% |
| Q3 2019 | 2019-09-30 | $769,000 | −$2.9M | −78.92% | +0.43% |
| Q2 2019 | 2019-06-30 | $12.3M | $9.9M | +428.65% | +9.14% |
| Q1 2019 | 2019-03-31 | $16.4M | $18.8M | — | +16.38% |
| Q3 2018 | 2018-09-30 | $5.9M | $8.2M | — | +7.57% |
| Q2 2018 | 2018-06-30 | $3.6M | $3.5M | +2562.77% | +4.81% |
| Q1 2018 | 2018-03-31 | $2.3M | $30.3M | — | +3.31% |
| Q4 2017 | 2017-12-31 | −$2.4M | $4.5M | — | −3.04% |
| Q3 2017 | 2017-09-30 | −$2.3M | $20.4M | — | −2.98% |
| Q2 2017 | 2017-06-30 | $137,000 | −$3.0M | −95.57% | +0.18% |
| Q1 2017 | 2017-03-31 | −$28.0M | −$9.4M | — | −51.10% |
| Q4 2016 | 2016-12-31 | −$6.9M | −$12.2M | — | −7.64% |
| Q3 2016 | 2016-09-30 | −$22.7M | −$13.2M | — | −25.59% |
| Q2 2016 | 2016-06-30 | $3.1M | $17.5M | — | +3.91% |
| Q1 2016 | 2016-03-31 | −$18.6M | −$3.5M | — | −29.00% |
| Q4 2015 | 2015-12-31 | $5.3M | −$161,000 | −2.94% | +8.08% |
| Q3 2015 | 2015-09-30 | −$9.5M | −$15.2M | — | −9.20% |
| Q2 2015 | 2015-06-30 | −$14.4M | −$12.1M | — | −14.13% |
| Q1 2015 | 2015-03-31 | −$15.1M | −$17.2M | — | −17.44% |
| Q4 2014 | 2014-12-31 | $5.5M | −$741,000 | −11.94% | +5.20% |
| Q3 2014 | 2014-09-30 | $5.7M | $7.6M | — | +5.76% |
| Q2 2014 | 2014-06-30 | −$2.3M | $467,000 | — | −2.81% |
| Q1 2014 | 2014-03-31 | $2.1M | $10.8M | — | +3.66% |
| Q4 2013 | 2013-12-31 | $6.2M | $515,000 | +9.05% | +9.26% |
| Q3 2013 | 2013-09-30 | −$1.9M | $21.6M | — | −3.08% |
| Q2 2013 | 2013-06-30 | −$2.8M | $18.4M | — | −4.77% |
| Q1 2013 | 2013-03-31 | −$8.7M | $10.0M | — | −18.99% |
| Q4 2012 | 2012-12-31 | $5.7M | −$12.1M | −68.00% | +9.89% |
| Q3 2012 | 2012-09-30 | −$23.5M | −$13.5M | — | −38.59% |
| Q2 2012 | 2012-06-30 | −$21.2M | −$9.7M | — | −38.03% |
| Q1 2012 | 2012-03-31 | −$18.7M | −$7.4M | — | −43.84% |
| Q4 2011 | 2011-12-31 | $17.8M | — | — | +31.14% |
| Q3 2011 | 2011-09-30 | −$10.0M | — | — | −22.37% |
| Q2 2011 | 2011-06-30 | −$11.5M | — | — | −38.81% |
| Q1 2011 | 2011-03-31 | −$11.3M | — | — | −62.68% |
Enphase Energy free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $195.8M to $95.9M, a compound annual decline of 13.30%. Enphase Energy's latest reported quarter, Q1 2026, generated $83.0M in free cash flow, an increase of 145.44% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Enphase Energy filings at SEC.gov ↗