| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | Enphase Energy Inc (ENPH) | ||||||||||||||||||||||||||
2 | in million | ||||||||||||||||||||||||||
3 | Fisacal Year (End of Dec, change in 2017) | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |||||||
4 | Revenue | 61.661 | 149.523 | 216.678 | 232.846 | 343.904 | 357.249 | 322.591 | 286.166 | 316.159 | 624.333 | 774.425 | 1382.049 | 2330.853 | 2290.786 | 1330.383 | 1472.985 | ||||||||||
5 | revenue growth % | 142% | 45% | 7% | 48% | 4% | -10% | -11% | 10% | 97% | 24% | 78% | 69% | -2% | -42% | 11% | -100% | #DIV/0! | #DIV/0! | ||||||||
6 | revenue growth % - 5 year average | 42% | 17% | 6% | 6% | 13% | 17% | 34% | 52% | 49% | 16% | 14% | -100% | -100% | -100% | ||||||||||||
7 | |||||||||||||||||||||||||||
8 | Cost of revenue | 55.159 | 120.454 | 161.390 | 165.430 | 230.861 | 249.032 | 264.583 | 230.123 | 221.714 | 403.088 | 428.444 | 827.627 | 1356.258 | 1232.398 | 701.245 | 785.981 | ||||||||||
9 | Cost to revnue | 89.46% | 80.56% | 74.48% | 71.05% | 67.13% | 69.71% | 82.02% | 80.42% | 70.13% | 64.56% | 55.32% | 59.88% | 58.19% | 53.80% | 52.71% | 53.36% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
10 | Gross profit | 6.502 | 29.069 | 55.288 | 67.416 | 113.043 | 108.217 | 58.008 | 56.043 | 94.445 | 221.245 | 345.981 | 554.422 | 974.595 | 1058.388 | 629.138 | 687.004 | 0.000 | 0.000 | 0.000 | |||||||
11 | Gross Margin | 10.54% | 19.44% | 25.52% | 28.95% | 32.87% | 30.29% | 17.98% | 19.58% | 29.87% | 35.44% | 44.68% | 40.12% | 41.81% | 46.20% | 47.29% | 46.64% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
12 | |||||||||||||||||||||||||||
13 | Research and development | 14.296 | 25.099 | 35.601 | 34.524 | 45.386 | 50.819 | 50.703 | 33.157 | 32.587 | 40.381 | 55.921 | 105.526 | 168.846 | 227.336 | 201.315 | 189.075 | ||||||||||
14 | % to Revenue | 23.18% | 16.79% | 16.43% | 14.83% | 13.20% | 14.23% | 15.72% | 11.59% | 10.31% | 6.47% | 7.22% | 7.64% | 7.24% | 9.92% | 15.13% | 12.84% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
15 | Sale and marketing | 6.558 | 17.454 | 25.973 | 31.080 | 41.003 | 45.877 | 38.810 | 23.126 | 27.047 | 36.728 | 52.927 | 128.974 | 215.102 | 231.792 | 206.552 | 197.505 | ||||||||||
16 | % to Revenue | 10.64% | 11.67% | 11.99% | 13.35% | 11.92% | 12.84% | 12.03% | 8.08% | 8.55% | 5.88% | 6.83% | 9.33% | 9.23% | 10.12% | 15.53% | 13.41% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
17 | General and administrative | 6.365 | 15.228 | 24.875 | 23.970 | 31.083 | 30.830 | 27.418 | 22.221 | 29.086 | 38.808 | 50.694 | 104.090 | 140.002 | 137.835 | 130.825 | 135.767 | ||||||||||
18 | % to Revenue | 10.32% | 10.18% | 11.48% | 10.29% | 9.04% | 8.63% | 8.50% | 7.77% | 9.20% | 6.22% | 6.55% | 7.53% | 6.01% | 6.02% | 9.83% | 9.22% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
19 | Restructuring charge | 3.777 | 16.917 | 4.129 | 2.599 | 0.000 | 0.000 | 2.384 | 15.684 | 13.154 | 7.131 | ||||||||||||||||
20 | |||||||||||||||||||||||||||
21 | |||||||||||||||||||||||||||
22 | Total operating expenses | 27.219 | 57.781 | 86.449 | 89.574 | 117.472 | 127.526 | 120.708 | 95.421 | 92.849 | 118.516 | 159.542 | 338.590 | 526.334 | 612.647 | 551.846 | 529.478 | 0.000 | 0.000 | 0.000 | |||||||
23 | Income from operation | -20.717 | -28.712 | -31.161 | -22.158 | -4.429 | -19.309 | -62.700 | -39.378 | 1.596 | 102.729 | 186.439 | 215.832 | 448.261 | 445.741 | 77.292 | 157.526 | 0.000 | 0.000 | 0.000 | |||||||
24 | Interest income | 2.156 | 0.695 | 13.656 | 69.728 | 77.306 | 62.722 | ||||||||||||||||||||
25 | Interest expense | -21.001 | -45.152 | -9.438 | -8.839 | -8.905 | -4.521 | ||||||||||||||||||||
26 | Note, derivative, | -44.348 | -56.497 | ||||||||||||||||||||||||
27 | |||||||||||||||||||||||||||
28 | Other income/(expense) | -3.836 | 6.050 | -0.431 | 6.509 | -25.534 | -10.913 | ||||||||||||||||||||
29 | Total other income (expense) | -1.060 | -3.578 | -6.406 | -2.892 | -2.857 | -1.394 | -3.287 | -5.963 | -11.825 | -12.615 | -67.029 | -94.904 | 3.787 | 67.398 | 42.867 | 47.288 | 0.000 | 0.000 | 0.000 | |||||||
30 | Income before tax | -21.777 | -32.290 | -37.567 | -25.050 | -7.286 | -20.703 | -65.987 | -45.341 | -10.229 | 90.114 | 119.410 | 120.928 | 452.048 | 513.139 | 120.159 | 204.814 | 0.000 | 0.000 | 0.000 | |||||||
31 | Tax | 0.651 | 0.863 | 0.766 | 1.379 | 1.475 | -0.149 | 1.398 | -71.034 | -14.585 | -24.521 | 54.686 | 74.203 | 17.501 | 32.681 | ||||||||||||
32 | Net income | -21.777 | -32.290 | -38.218 | -25.913 | -8.052 | -22.082 | -67.462 | -45.192 | -11.627 | 161.148 | 133.995 | 145.449 | 397.362 | 438.936 | 102.658 | 172.133 | 0.000 | 0.000 | 0.000 | |||||||
33 | Net Margin | -35.32% | -21.60% | -17.64% | -11.13% | -2.34% | -6.18% | -20.91% | -15.79% | -3.68% | 25.81% | 17.30% | 10.52% | 17.05% | 19.16% | 7.72% | 11.69% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
34 | Loss to attribute to noncontrolling interest | ||||||||||||||||||||||||||
35 | EPS | -28.959 | -25.729 | -1.243 | -0.622 | -0.188 | -0.495 | -1.335 | -0.545 | -0.117 | 1.224 | 0.944 | 1.018 | 2.752 | 3.063 | 0.733 | 1.276 | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
36 | Diluted weighted avg shares | 0.752 | 1.255 | 30.740 | 41.642 | 42.903 | 44.632 | 50.519 | 82.939 | 99.619 | 131.644 | 141.918 | 142.878 | 144.390 | 143.290 | 140.004 | 134.886 | ||||||||||
37 | |||||||||||||||||||||||||||
38 | Settlements for warranty obligation | 0.315 | 0.960 | 3.221 | 7.512 | 8.793 | 7.269 | 8.523 | 7.037 | 8.579 | 10.881 | 12.811 | 15.073 | 26.257 | 27.216 | 27.611 | 27.086 | ||||||||||
39 | Settlement expense to revenue | 0.51% | 0.64% | 1.49% | 3.23% | 2.56% | 2.03% | 2.64% | 2.46% | 2.71% | 1.74% | 1.65% | 1.09% | 1.13% | 1.19% | 2.08% | 1.84% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
40 | |||||||||||||||||||||||||||
41 | |||||||||||||||||||||||||||
42 | |||||||||||||||||||||||||||
43 | Price at yearend | 3.90 | 7.40 | 14.21 | 3.51 | 1.01 | 2.41 | 5.08 | 26.13 | 175.47 | 182.9 | 265.0 | 132.1 | 68.68 | 32.05 | ||||||||||||
44 | Price to EPS ratio | -3.1 | -11.9 | -75.7 | -7.1 | -0.8 | -4.4 | -43.5 | 21.3 | 185.8 | 179.7 | 96.3 | 43.1 | 93.7 | 25.1 | #DIV/0! | #DIV/0! | #DIV/0! | |||||||||
45 | IPO March 2012 | ||||||||||||||||||||||||||
46 | Cash and equivalents | 51.524 | 45.295 | 38.190 | 42.032 | 28.450 | 17.764 | 29.144 | 106.237 | 296.109 | 679.379 | 1016.651 | 1612.843 | 1695.034 | 1717.596 | 1512.854 | |||||||||||
47 | Receivables | 17.771 | 27.743 | 32.084 | 45.119 | 46.099 | 61.019 | 65.346 | 78.938 | 145.413 | 182.615 | 333.626 | 440.896 | 445.959 | 223.749 | 229.881 | |||||||||||
48 | Quick assets | 69.295 | 73.038 | 70.274 | 87.151 | 74.549 | 78.783 | 94.490 | 185.175 | 441.522 | 861.994 | 1350.277 | 2053.739 | 2140.993 | 1941.345 | 1742.735 | 0.000 | 0.000 | 0.000 | ||||||||
49 | Current assets | 81.787 | 94.998 | 90.509 | 114.896 | 121.768 | 117.864 | 130.446 | 222.302 | 499.657 | 933.064 | 1462.461 | 2264.271 | 2598.630 | 2327.084 | 2606.860 | |||||||||||
50 | |||||||||||||||||||||||||||
51 | Intangibles | 0.000 | 0.000 | 0.286 | 1.811 | 2.220 | 0.945 | 0.515 | 35.306 | 30.579 | 28.808 | 97.758 | 99.541 | 79.147 | 42.398 | 22.288 | |||||||||||
52 | Goodwill | 0.000 | 0.000 | 0.000 | 3.745 | 3.745 | 3.664 | 3.664 | 24.783 | 24.783 | 28.808 | 181.254 | 213.559 | 213.793 | 211.574 | 214.760 | |||||||||||
53 | Total Assets | 106.242 | 122.291 | 116.669 | 152.192 | 165.528 | 163.576 | 169.147 | 339.937 | 703.106 | 1182.419 | 2064.836 | 3062.901 | 3534.055 | 3225.059 | 3509.792 | |||||||||||
54 | |||||||||||||||||||||||||||
55 | Current liability | 52.370 | 33.855 | 33.365 | 58.706 | 72.848 | 82.772 | 91.741 | 147.161 | 199.311 | 534.034 | 439.796 | 638.219 | 774.387 | 660.091 | 1262.150 | |||||||||||
56 | Quick ratio | 1.323 | 2.157 | 2.106 | 1.485 | 1.023 | 0.952 | 1.030 | 1.258 | 2.215 | 1.614 | 3.070 | 3.218 | 2.765 | 2.941 | 1.381 | #DIV/0! | #DIV/0! | #DIV/0! | ||||||||
57 | Current ratio | 1.562 | 2.806 | 2.713 | 1.957 | 1.672 | 1.424 | 1.422 | 1.511 | 2.507 | 1.747 | 3.325 | 3.548 | 3.356 | 3.525 | 2.065 | #DIV/0! | #DIV/0! | #DIV/0! | ||||||||
58 | Debt | 33.879 | 11.061 | 8.677 | 0.000 | 17.000 | 33.900 | 49.751 | 109.783 | 105.543 | 330.865 | 1037.646 | 1290.357 | 1291.612 | 1302.380 | 1204.380 | |||||||||||
59 | Warranty obligation | 6.733 | 15.260 | 30.432 | 33.940 | 30.547 | 31.414 | 29.816 | 31.294 | 37.098 | 45.913 | 73.377 | 131.446 | 188.866 | 192.889 | 214.043 | |||||||||||
60 | Warranty to revenue % | 4.50% | 7.04% | 13.07% | 9.87% | 8.55% | 9.74% | 10.42% | 9.90% | 5.94% | 5.93% | 5.31% | 5.64% | 8.24% | 14.50% | 14.53% | #DIV/0! | #DIV/0! | #DIV/0! | ||||||||
61 | Total Liability | 92.27 | 65.64 | 76.46 | 105.24 | 124.08 | 162.27 | 178.27 | 332.16 | 428.30 | 696.36 | 1633.34 | 2234.26 | 2375.37 | 2387.80 | 2422.77 | |||||||||||
62 | Equity | 13.974 | 56.655 | 40.206 | 46.950 | 41.449 | 1.300 | -9.126 | 7.776 | 272.212 | 483.993 | 430.168 | 825.573 | 983.624 | 833.016 | 1087.023 | |||||||||||
63 | Book value per share | 11.13 | 1.84 | 0.97 | 1.09 | 0.93 | 0.03 | -0.11 | 0.08 | 2.07 | 3.41 | 3.01 | 5.72 | 6.86 | 5.95 | 8.06 | #DIV/0! | #DIV/0! | #DIV/0! | ||||||||
64 | Tangible book value | 11.13 | 1.84 | 0.96 | 0.96 | 0.80 | -0.07 | -0.16 | -0.53 | 1.65 | 3.00 | 1.06 | 3.55 | 4.82 | 4.14 | 6.30 | #DIV/0! | #DIV/0! | #DIV/0! | ||||||||
65 | |||||||||||||||||||||||||||
66 | Revenue to assets (asset turnover) | 1.90 | 1.95 | 2.56 | 2.25 | 1.96 | 1.72 | 1.24 | 1.20 | 0.82 | 0.85 | 0.91 | 0.69 | 0.39 | 0.44 | 0.00 | #DIV/0! | #DIV/0! | |||||||||
67 | Revenue to invested capital | 3.75 | 3.99 | 7.18 | 6.78 | 6.89 | 7.55 | 4.00 | 2.52 | 1.30 | 1.21 | 1.30 | 1.04 | 0.60 | 0.67 | 0.00 | #DIV/0! | #DIV/0! | |||||||||
68 | |||||||||||||||||||||||||||
69 | |||||||||||||||||||||||||||
70 | |||||||||||||||||||||||||||
71 | ROIC | NMF | NMF | NMF | NMF | NMF | -41.90% | -144.07% | -119.20% | -14.70% | 65.07% | 22.47% | 12.74% | 22.18% | 19.99% | 4.66% | 7.78% | 0.00% | #DIV/0! | #DIV/0! | |||||||
72 | ROE | -49.96% | -315.62% | 1154.92% | 1722.52% | 115.11% | 35.44% | 31.82% | 63.29% | 48.52% | 11.30% | 17.93% | 0.00% | #DIV/0! | #DIV/0! | ||||||||||||
73 | ROA | NMF | NMF | NMF | NMF | NMF | -13.90% | -41.00% | -27.16% | -4.57% | 30.90% | 14.21% | 8.96% | 15.50% | 13.31% | 3.04% | 5.11% | 0.00% | #DIV/0! | #DIV/0! | |||||||
74 | |||||||||||||||||||||||||||
75 | |||||||||||||||||||||||||||
76 | |||||||||||||||||||||||||||
77 | Cash from operation (CFO) | -19.095 | -24.855 | -22.439 | -10.894 | 11.390 | 2.155 | -40.045 | -27.025 | 14.608 | 137.642 | 240.987 | 368.206 | 679.058 | 501.644 | 370.692 | 489.433 | ||||||||||
78 | CapEx + Acquisition | 3.262 | 14.662 | 12.990 | 6.257 | 16.237 | 12.762 | 11.795 | 4.121 | 19.151 | 14.788 | 25.568 | 319.591 | 124.605 | 105.326 | 33.604 | 45.639 | ||||||||||
79 | Free Cash Flow (FCF) | -22.357 | -39.517 | -35.429 | -17.151 | -4.847 | -10.607 | -51.840 | -31.146 | -4.543 | 122.854 | 215.419 | 48.615 | 554.453 | 396.318 | 337.088 | 443.794 | 0.000 | 0.000 | 0.000 | |||||||
80 | FCF as % of CFO | NMF | NMF | NMF | NMF | NMF | NMF | NMF | NMF | NMF | 89.3% | 89.4% | 13.2% | 81.7% | 79.0% | 90.9% | 90.7% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
81 | 5-year-average | 0% | 0% | 18% | 36% | 38% | 55% | 71% | 71% | 71% | #DIV/0! | #DIV/0! | #DIV/0! | ||||||||||||||
82 | |||||||||||||||||||||||||||
83 | Cash to liability | 56% | 69% | 50% | 40% | 23% | 11% | 16% | 32% | 69% | 98% | 62% | 72% | 71% | 72% | 62% | #DIV/0! | #DIV/0! | #DIV/0! | ||||||||
84 | FCF to liability | -43% | -54% | -22% | -5% | -9% | -32% | -17% | -1% | 29% | 31% | 3% | 25% | 17% | 14% | 18% | #DIV/0! | #DIV/0! | #DIV/0! | ||||||||
85 | |||||||||||||||||||||||||||
86 | Interest expense | 0.914 | 3.006 | 6.436 | 2.055 | 1.836 | 0.501 | 2.773 | 7.936 | 9.635 | 9.691 | 21.001 | 45.152 | 9.438 | 8.839 | 8.905 | 4.521 | ||||||||||
87 | Interes coverage (* times) by CFO | -20.892 | -8.268 | -3.486 | -5.301 | 6.204 | 4.301 | -14.441 | -3.405 | 1.516 | 14.203 | 11.475 | 8.155 | 71.949 | 56.753 | 41.627 | 108.258 | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
88 | |||||||||||||||||||||||||||
89 | Stock compensation expense | 0.829 | 2.120 | 4.766 | 6.849 | 9.740 | 12.696 | 10.326 | 6.727 | 11.432 | 20.176 | 42.503 | 114.286 | 216.802 | 212.875 | 211.360 | 214.090 | ||||||||||
90 | stock compensation to revenue % | 1.34% | 1.42% | 2.20% | 2.94% | 2.83% | 3.55% | 3.20% | 2.35% | 3.62% | 3.23% | 5.49% | 8.27% | 9.30% | 9.29% | 15.89% | 14.53% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
91 | stock compensation to gross profit % | 12.75% | 7.29% | 8.62% | 10.16% | 8.62% | 11.73% | 17.80% | 12.00% | 12.10% | 9.12% | 12.28% | 20.61% | 22.25% | 20.11% | 33.60% | 31.16% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
92 | stock compensation to net income % | -3.81% | -6.57% | -12.47% | -26.43% | -120.96% | -57.49% | -15.31% | -14.89% | -98.32% | 12.52% | 31.72% | 78.57% | 54.56% | 48.50% | 205.89% | 124.37% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
93 | Stock Repurchase | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 500.00 | 0.00 | 410.00 | 391.36 | 129.96 | ||||||||||
94 | Option/restric shares granted | 2.5480 | 1.1100 | 2.7610 | 1.7910 | 2.5610 | 1.9720 | 2.4940 | 9.9180 | 4.8120 | 3.2070 | 2.5500 | 2.0160 | 1.5720 | 1.8310 | 2.0330 | 3.8890 | ||||||||||
95 | price per granted share if repurchase from market | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 248.02 | 0.00 | 223.92 | 192.51 | 33.42 | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
96 | Price % above market price yearend | na | na | na | na | na | na | na | na | na | na | na | 35.57% | na | 69.46% | 180.29% | 4.26% | #DIV/0! | #DIV/0! | #DIV/0! | |||||||
97 | Cash wasted if granted shares repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 131.19 | 0.00 | 168.05 | 251.74 | 5.31 | 0.00 | 0.00 | 0.00 | |||||||
98 | from market | ||||||||||||||||||||||||||
99 | Accumulated cash wasted for shareholders | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 131.19 | 131.19 | 299.24 | 550.98 | 556.29 | 556.29 | 556.29 | 556.29 | |||||||
100 |