Enphase Energy, Inc. (ENPH)
Semiconductors & Related Devices
Latest Price
$37.54
TTM P/E
37.17
Normalized P/E
24.11
Div Yield
--
Book Value
8.39
P/B Ratio
4.47
Valuation metrics
adjust assumptions →EPS: $1.29
Book value / share: $8.29
Formula: √(22.5 × EPS × BVPS)
Graham Number
$15.51
59% downside
Norm. op. income: $186M (median of 7yr)
Tax rate: 15%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$14.51
61% downside
Base FCF: $480M (median of recent 5yr)
Growth: 5%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$64.81
+73% upside
EPS: $1.29
Target P/E: 24×
Formula: EPS × P/E
P/E Fair Value
$30.96
18% downside
Institutional Ownership
99.5% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| BlackRock, Inc. | 22.20M | $839.0M | 16.85% | +2.19M | 2026-03-31 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 9.66M | $365.0M | 7.33% | -- | 2026-03-31 |
| Alyeska Investment Group, L.P. | 5.85M | $221.0M | 4.44% | +5.21M | 2026-03-31 |
| VANGUARD CAPITAL MANAGEMENT LLC | 5.67M | $214.0M | 4.30% | -- | 2026-03-31 |
| STATE STREET CORP | 4.60M | $173.0M | 3.49% | +25.8K | 2026-03-31 |
| CITADEL ADVISORS LLC | 4.33M | $163.0M | 3.28% | -1.32M | 2026-03-31 |
| JANE STREET GROUP, LLC | 3.79M | $143.0M | 2.88% | +979.3K | 2026-03-31 |
| Invesco Ltd. | 3.68M | $139.0M | 2.79% | +523.5K | 2026-03-31 |
| Holocene Advisors, LP | 3.36M | $127.0M | 2.55% | -85.3K | 2026-03-31 |
| UBS Group AG | 3.33M | $125.0M | 2.52% | -2.02M | 2026-03-31 |