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Enphase Energy, Inc. balance sheet

At the end of fiscal 2025, Enphase Energy, Inc. had total assets of $3.51bn, total liabilities of $2.42bn and shareholders' equity of $1.09bn. It held $474m in cash against $1.20bn of debt: net debt of $730m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash and equivalents4052453842281829106251679119473289369474380
Receivables—1828324546616579145182334441446224230250
Inventory—1120172241322616324274150214165288244
Total current assets—8295911151221181302225009331,4622,2642,4442,3272,6071,883
Goodwill———04444252525181214215212215213
Total assets—1061221171521661641693407131,2002,0793,0843,3833,2503,5102,877
Accounts payable—131172226322949577311412511690203101
Deferred revenue (current)—2313346163382486391118237181171
Total current liabilities—523433597383921471995344406385326601,262460
Short-term debt—52200317283326869101016320
Long-term debt—10990021328210359521,1991,2941,201572573
Total debt024111101734501101063311,0381,2901,2941,3021,204573
Total liabilities—9266761051241621783324417161,6492,2592,3992,4172,4231,635
Shareholders' equity3814574047411−982724844308269848331,0871,242
Net debt (negative = net cash)−40−28−34−27−42−1116214−146−3499188171,005933730193
Shares outstanding———42m44m46m62m86m107m123m129m134m136m136m132m131m132m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Enphase Energy, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Enphase Energy, Inc.