Enphase Energy annual gross margin
2010
2011
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2025
Enphase Energy Gross Margin Growth & History (ENPH)
Enphase Energy's gross margin was 46.64% for fiscal 2025.
View full Enphase Energy company overviewEnphase Energy annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 46.64% | −0.65 pp |
| 2024 | 2024-12-31 | 47.29% | +1.09 pp |
| 2023 | 2023-12-31 | 46.20% | +4.39 pp |
| 2022 | 2022-12-31 | 41.81% | +1.70 pp |
| 2021 | 2021-12-31 | 40.12% | −4.56 pp |
| 2020 | 2020-12-31 | 44.68% | +9.24 pp |
| 2019 | 2019-12-31 | 35.44% | +15.85 pp |
| 2017 | 2017-12-31 | 19.58% | +1.60 pp |
| 2016 | 2016-12-31 | 17.98% | −12.31 pp |
| 2015 | 2015-12-31 | 30.29% | −2.58 pp |
| 2014 | 2014-12-31 | 32.87% | +3.92 pp |
| 2013 | 2013-12-31 | 28.95% | +3.44 pp |
| 2012 | 2012-12-31 | 25.52% | +6.08 pp |
| 2011 | 2011-12-31 | 19.44% | +8.90 pp |
| 2010 | 2010-12-31 | 10.54% | — |
Enphase Energy quarterly gross margin
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Q1.26
| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-03-31 | 35.49% | −11.76 pp |
| Q4 2025 | 2025-12-31 | 44.28% | −7.53 pp |
| Q3 2025 | 2025-09-30 | 47.81% | +1.03 pp |
| Q2 2025 | 2025-06-30 | 46.95% | +1.75 pp |
| Q1 2025 | 2025-03-31 | 47.25% | +3.38 pp |
| Q4 2024 | 2024-12-31 | 51.81% | +3.34 pp |
| Q3 2024 | 2024-09-30 | 46.78% | −0.77 pp |
| Q2 2024 | 2024-06-30 | 45.20% | −0.27 pp |
| Q1 2024 | 2024-03-31 | 43.86% | −1.09 pp |
| Q4 2023 | 2023-12-31 | 48.47% | +5.60 pp |
| Q3 2023 | 2023-09-30 | 47.55% | +5.33 pp |
| Q2 2023 | 2023-06-30 | 45.47% | +4.16 pp |
| Q1 2023 | 2023-03-31 | 44.95% | +4.85 pp |
| Q4 2022 | 2022-12-31 | 42.88% | +3.31 pp |
| Q3 2022 | 2022-09-30 | 42.21% | +2.28 pp |
| Q2 2022 | 2022-06-30 | 41.31% | +0.87 pp |
| Q1 2022 | 2022-03-31 | 40.10% | −0.64 pp |
| Q4 2021 | 2021-12-31 | 39.57% | −6.47 pp |
| Q3 2021 | 2021-09-30 | 39.93% | −13.28 pp |
| Q2 2021 | 2021-06-30 | 40.44% | +1.89 pp |
| Q1 2021 | 2021-03-31 | 40.74% | +1.50 pp |
| Q4 2020 | 2020-12-31 | 46.04% | +8.96 pp |
| Q3 2020 | 2020-09-30 | 53.21% | +17.27 pp |
| Q2 2020 | 2020-06-30 | 38.54% | +4.75 pp |
| Q1 2020 | 2020-03-31 | 39.25% | +5.96 pp |
| Q4 2019 | 2019-12-31 | 37.08% | +4.69 pp |
| Q3 2019 | 2019-09-30 | 35.94% | +6.03 pp |
| Q2 2019 | 2019-06-30 | 33.80% | +7.62 pp |
| Q1 2019 | 2019-03-31 | 33.29% | +9.46 pp |
| Q3 2018 | 2018-09-30 | 32.39% | +11.02 pp |
| Q2 2018 | 2018-06-30 | 29.91% | +11.78 pp |
| Q1 2018 | 2018-03-31 | 26.17% | +13.30 pp |
| Q4 2017 | 2017-12-31 | 23.83% | +5.91 pp |
| Q3 2017 | 2017-09-30 | 21.37% | +3.46 pp |
| Q2 2017 | 2017-06-30 | 18.13% | +0.28 pp |
| Q1 2017 | 2017-03-31 | 12.87% | −5.47 pp |
| Q4 2016 | 2016-12-31 | 17.92% | −6.01 pp |
| Q3 2016 | 2016-09-30 | 17.91% | −12.68 pp |
| Q2 2016 | 2016-06-30 | 17.85% | −14.50 pp |
| Q1 2016 | 2016-03-31 | 18.34% | −14.00 pp |
| Q4 2015 | 2015-12-31 | 23.92% | −9.38 pp |
| Q3 2015 | 2015-09-30 | 30.59% | −2.23 pp |
| Q2 2015 | 2015-06-30 | 32.35% | −0.37 pp |
| Q1 2015 | 2015-03-31 | 32.34% | −0.06 pp |
| Q4 2014 | 2014-12-31 | 33.30% | +1.24 pp |
| Q3 2014 | 2014-09-30 | 32.81% | +4.71 pp |
| Q2 2014 | 2014-06-30 | 32.72% | +4.73 pp |
| Q1 2014 | 2014-03-31 | 32.40% | +5.63 pp |
| Q4 2013 | 2013-12-31 | 32.06% | +4.17 pp |
| Q3 2013 | 2013-09-30 | 28.10% | +1.26 pp |
| Q2 2013 | 2013-06-30 | 28.00% | +3.58 pp |
| Q1 2013 | 2013-03-31 | 26.77% | +4.92 pp |
| Q4 2012 | 2012-12-31 | 27.89% | +5.01 pp |
| Q3 2012 | 2012-09-30 | 26.84% | +7.74 pp |
| Q2 2012 | 2012-06-30 | 24.42% | +8.18 pp |
| Q1 2012 | 2012-03-31 | 21.85% | +7.19 pp |
| Q4 2011 | 2011-12-31 | 22.88% | — |
| Q3 2011 | 2011-09-30 | 19.10% | — |
| Q2 2011 | 2011-06-30 | 16.24% | — |
| Q1 2011 | 2011-03-31 | 14.65% | — |
Enphase Energy gross margin trends
Over the last five reported fiscal years, Enphase Energy's gross margin increased from 44.68% to 46.64%, a change of +1.96 percentage points. The latest reported quarter, Q1 2026, shows 35.49%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Enphase Energy filings at SEC.gov ↗