ENPH: the balance sheet

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For the quarter ending 2026-03-31, ENPH has $2,723,923K in assets. $1,621,571K in debts. $497,546K in cash and cash equivalents.

Balance Sheets Overview

Current Ratio
379.90%
Quick Ratio
319.56%
Cash Ratio
103.27%
Debt to Asset Ratio
59.53%
Unit: Thousand (K) dollars
Assets Breakdown
Cash and cash equivalents
Marketable securities
Prepaid expenses and other curre...
Others
Liabilities Breakdown
Additional paid-in capital
Debt, non-current
Deferred revenues, non-current
Others

Balance Sheets	2026-03-31	2025-12-31	2025-09-30	2025-06-30
Cash and cash equivalents	497,546	474,318	401,880	370,536
Restricted cash	-	0	0	0
Marketable securities	433,095	1,038,536	1,076,044	1,159,648
Accounts receivable, net of allowances of 484 and 580 at march31, 2026 and december31, 2025, respectively	196,578	229,881	265,513	223,218
Inventory	290,701	288,047	188,652	173,016
Prepaid expenses and other current assets	412,351	576,078	459,698	362,523
Total current assets	1,830,271	2,606,860	2,391,787	2,288,941
Property and equipment, net	138,873	136,804	131,317	136,902
Indefinite-lived intangibles	-	286	286	286
Net-Developed Technology Rights	-	5,441	7,035	8,630
Net-Customer Relationships	-	9,114	10,679	12,247
Net-Trade Names	-	7,447	9,332	11,217
Intangible assets, net	17,562	22,288	27,332	32,380
Goodwill	213,744	214,760	214,406	214,890
Other assets	211,706	222,677	234,748	193,426
Deferred tax assets, net	311,767	306,403	320,898	312,250
Total assets	2,723,923	3,509,792	3,320,488	3,178,789

Accounts payable	113,462	203,039	188,571	162,697
Customer rebates and sales incentives	58,103	79,585	89,158	87,982
Liability due to supply and service agreements	65,649	62,789	-	-
Liability due to supply agreements	-	-	51,802	56,043
Duties and tariffs	22,434	30,499	-	-
Freight	6,778	8,034	5,806	6,569
Salaries, commissions, incentive compensation and benefits	17,682	9,529	15,119	11,566
Income tax payable	1,913	4,919	248	2,613
Operating lease liabilities, current	8,603	8,211	5,813	6,079
Vat payable	3,323	2,226	3,666	4,039
Liabilities related to restructuring accruals	1,326	190	2,444	2,051
Other	9,773	11,384	33,870	29,595
Accrued liabilities	195,584	217,366	207,926	206,537
Deferred revenues, current	144,325	180,524	111,493	129,040
Warranty obligations, current	28,412	29,038	31,473	33,136
Debt, current	0	632,183	631,681	631,179
Total current liabilities	481,783	1,262,150	1,171,144	1,162,589
Deferred revenues, non-current	326,231	337,923	345,710	331,531
Warranty obligations, non-current	175,795	185,005	178,668	172,950
Other liabilities	65,252	65,497	58,077	59,542
Debt, non-current	572,510	572,194	571,867	571,540
Total liabilities	1,621,571	2,422,769	2,325,466	2,298,152
Common stock, 0.00001 par value, 300,000 shares authorized and 131,784 shares and 131,080 shares issued and outstanding at march31, 2026 and december31, 2025, respectively	1	1	1	1
Additional paid-in capital	1,319,469	1,289,164	1,234,287	1,184,497
Accumulated deficit	-211,302	-203,896	-242,583	-309,221
Accumulated other comprehensive income (loss)	-5,816	1,754	3,317	5,360
Total stockholders equity	1,102,352	1,087,023	995,022	880,637
Total liabilities and stockholders equity	2,723,923	3,509,792	3,320,488	3,178,789

Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.

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Balance Sheets Overview

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Balance Sheets

Balance Sheets Overview

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Balance Sheets