Stocks股票 / Tech / ENPH
Enphase Energy · Tech
ENPH US listed · USD美股 · 美元
Enphase Energy, Inc. is an American energy technology company headquartered in Fremont, California, that develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations primarily for residential customers.恩菲斯能源公司（Enphase Energy, Inc.）是一家总部位于加利福尼亚州弗里蒙特的美国能源技术公司，主要开发和制造面向住宅客户的太阳能微型逆变器、电池储能系统和电动汽车充电站。
Mid cap中盘 · $5B
High-beta momentum高贝塔动量
Tech
S&P 600标普600小盘
$39.46
-$2.11 · -5.08%
52w low52周低 $25.07high高 $75.47
Neutral — no clear edge中性 — 无明显优势
A cycle low is due in roughly ~0–2 trading days — watch for the turn, don't front-run it.周期低点预计在约 ~0–2 个交易日内出现——等待转向，切勿抢跑。
Engine read引擎解读 · 2026-07-21
Price chart价格图表
daily · interactive日线 · 可交互
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Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-07-21
Momentum (RSI 14)动量（RSI 14）
36
Depressed偏低
vs 50-day average相对50日均线
-22.6% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
-1.3% below下方
Long trend down长期向下
Volatility波动率
49th percentile第49百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
next report下次财报 2026-07-288days to go天后公布
Estimates being cut预期下调
Post-earnings drift: +120.1% (20d)财报后漂移：+120.1%（20日）
Valuation估值
Roughly fair vs sector相对行业估值合理| Multiple指标 | ENPH | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（历史） | 30.05x | 40.25 | |
| P/B市净率 | 4.76x | 5.91 | |
| P/S市销率 | 3.51x | 4.85 | |
| Earnings yield盈利收益率 | 3.33% | 2.18 | |
| FCF yield自由现金流收益率 | 1.85% | 3.07 | |
| Shareholder yield股东收益率 | 2.51% | 2.14 | |
| EV/EBITDA企业价值/EBITDA | 24.78x | 28.83 | |
| P/FCF市值/自由现金流 | 53.93x | 29.15 |
"Cheaper than" = share of sector peers trading richer on that multiple.「相对便宜」= 行业中该指标估值更高的同行占比。
Financials财务数据
fiscal years财年Revenue营业收入
5-yr growth5年复合增速 13.7%
Earnings per share每股收益
Free cash flow自由现金流
Gross margin毛利率
46.6%
Operating margin营业利润率
10.7%
Net margin净利率
11.7%
FCF margin自由现金流利润率
9.3%
Balance-sheet quality财务体质 6/9
Bankruptcy risk: grey zone破产风险：灰色区
Return on equity股本回报率 16%
Watch关注
Leverage杠杆
Net debt / EBITDA净债务/EBITDA3.07
Current ratio流动比率2.07
Capital allocation资本配置
Buybacks (TTM)回购（TTM）$130.0M
Stock-based comp股权薪酬$214.1M
Share count change (1y)股数变化（1年）-1.0%
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Macro宏观
Rate risk runs through its market / growth beta, not a distinct duration leg.其利率风险通过市场／成长beta体现，并无独立的久期暴露。
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
ENPH lost its 200-day averageENPH 跌破200日均线
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： -$9.9M net (1 buyers, 3 sellers)-$9.9M 净值（1 买家，3 卖家）
Concentrated ownership集中持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | As of截至 |
|---|---|---|---|---|
| Coatue Management | A | New position新建仓 | 0.2% | 2026-03-31 |
| Soros Fund Management | B | exitexit | 0.0% | 2026-03-31 |
Signal history信号历史
engine events引擎事件
UNCONFIRMED TURN → NEARING A LOW未确认转向 → 接近低点
GET READY. Day 68 of a typical 23-44-day cycle — inside the window where lows usually form, and short-term momentum is washed out. No confirmed turn yet. Last cycle was left-translated (topped early) — a bearish structural tell准备。典型 23-44 天周期的第 68 天——处于低点通常形成的窗口内，且短期动量已被洗净。尚无确认的转向。 上一周期为左移结构（见顶偏早）——属于看空的结构性信号
Jul 20, 2026
ENPH lost its 200-day averageENPH 跌破200日均线
Price closed below the 200-day moving average — the classic bear dividing line. $39.46.收盘跌破200日均线 — 经典的空头分界线。$39.46。
Jul 17, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Jul 10, 2026
ENPH weekly MACD crossed downENPH 周线MACD下穿
The weekly MACD histogram turned negative — the slower, less-whippy momentum read.周线MACD柱状图转负 — 更慢、更少来回的动量信号。
Jul 9, 2026
ENPH StochRSI turned up from oversoldENPH StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $44.89.StochRSI重回20上方 — 下行动量趋缓的最早预警。$44.89。
Jul 8, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Jul 7, 2026
UNCONFIRMED TURN → NEARING A LOW未确认转向 → 接近低点
GET READY准备
Jul 6, 2026
NEARING A LOW → UNCONFIRMED TURN接近低点 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Showing the last 15 of显示最近15条，共 244 signals条信号
Company profile公司档案
Enphase Energy, Inc. is an American energy technology company headquartered in Fremont, California, that develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations primarily for residential customers.恩菲斯能源公司（Enphase Energy, Inc.）是一家总部位于加利福尼亚州弗里蒙特的美国能源技术公司，主要开发和制造面向住宅客户的太阳能微型逆变器、电池储能系统和电动汽车充电站。
Demand chain:需求链： Contracted bookings (RPO) contracting (-10% YoY to ~$0B, 0.4× revenue) — signed demand locked in ahead of recognition已签约订单（RPO）收缩（同比-10%，约 $0B，覆盖营收 0.4 倍）——已锁定、尚未确认的需求
Style DNA — how it trades vs the market风格基因 — 相对市场的交易特征
Value价值
Below market低于市场
Profitability盈利能力
Below market低于市场
Quality质量
Below market低于市场
Investment资本投入
Below market低于市场
Shareholder payout股东回报
Below market低于市场
Low volatility低波动
Below market低于市场
Low market beta低市场敏感度
Below market低于市场
Earnings quality盈利质量
Above market高于市场
Short interest空头兴趣
Above market高于市场
Watch items — what could change the story关注项 — 可能改变故事的因素
- Margin compression despite revenue growth
- Inventory build
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Valuation vs sector估值对比行业
| Multiple指标 | This stock本股 | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（静态） | 30.1× | 40.2× | 62% |
| Price / Book市净率 | 4.8× | 5.9× | 56% |
| Price / Sales市销率 | 3.5× | 4.8× | 60% |
| EV / EBITDAEV/EBITDA | 24.8× | 28.8× | 55% |
| Earnings yield盈利收益率 | 3.3% | 2.2% | 68% |
| Free-cash-flow yield自由现金流收益率 | 2.6% | 4.2% | 32% |
| Shareholder yield股东综合回报率 | 2.5% | 2.1% | 55% |
Relative strength相对强度
vs market, 1 month相对大盘（1个月）
73/100 — stronger than most强于多数
vs market, 3 months相对大盘（3个月）
93/100 — stronger than most强于多数
vs market, 6 months相对大盘（6个月）
85/100 — stronger than most强于多数
vs market, 12 months相对大盘（12个月）
69/100 — middle of the pack居中
Rank in sector行业内排名
#95 / 184
0–100 percentile of total return vs all covered stocks.总回报在全部覆盖股票中的百分位（0–100）。
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | -8.4% | -0.9% |
| 1 Month近1月 | -24.5% | -0.6% |
| 3 Months近3月 | +17.4% | +5.4% |
| 6 Months近6月 | +9.7% | +8.6% |
| Year to date年初至今 | +16.9% | +8.9% |
| 1 Year近1年 | -0.3% | +19.2% |
| 3 Years近3年 | -77.8% | +69.9% |
Trading information交易信息
Beta vs market贝塔
2.36
Volatility rank波动率分位
49th pctile
Short interest空头占比
17.9% of float
Market cap市值
$5B
EPS (trailing)每股收益
$1.31
Off 52-week high距52周高点
-45.4%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $774M | $1.4B | $2.3B | $2.3B | $1.3B | $1.5B |
| EPS每股收益 | — | — | — | — | $0.75 | $1.29 |
| Free cash flow自由现金流 | $196M | $300M | $698M | $586M | $480M | $96M |
| Gross margin毛利率 | 44.7% | 40.1% | 41.8% | 46.2% | 47.3% | 46.6% |
| Net margin净利率 | 17.3% | 10.5% | 17.0% | 19.2% | 7.7% | 11.7% |
| FCF margin自由现金流利润率 | 25.3% | 21.7% | 30.0% | 25.6% | 36.1% | 6.5% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$1.5B
Gross profit毛利润
$687M
Net income净利润
$172M
Operating cash flow经营现金流
$137M
Total assets总资产
$3.5B
Shareholder equity股东权益
$1.1B
Long-term debt长期负债
$572M
Buybacks股票回购
$130M
Shares outstanding总股本
0.13B
Returns & growth回报与增长
Return on equity股本回报率
15.8%
Return on assets资产回报率
4.9%
Debt / assets负债/资产
16.3%
Profit growth利润增速
+67.7%
Asset growth资产增速
+8.0%
Accounting quality checks会计质量检查
- Earnings quality: accruals trending up over 6 fiscal years — earnings increasingly not cash-backed盈利质量：应计利润在 6 个财年间走高——盈利的现金支撑减弱
- Working capital: inventory +590% vs sales +90% — inventory building, demand risk营运资本：存货 +590% 对销售 +90%——存货积压，需求风险
- Pricing power: soft gross profitability vs peers定价能力：毛利能力弱于同业
- Capital discipline: investment near the peer median资本纪律：投资力度接近同业中位
- Balance sheet: Altman Z 2.23 — grey zone资产负债表：Altman Z 2.23——灰色区
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
36
RSI (2-day)RSI（2日）
11
vs 20-day average相对20日均线
-12.7%
vs 50-day average相对50日均线
-22.6%
vs 200-day average相对200日均线
-1.3%
Golden cross (50>200)金叉（50>200）
in effect生效中
MACDMACD
below signal位于信号线下方
Timeframe alignment多周期共振
Daily日线
momentum down动能向下
3-day3日线
momentum down动能向下
Weekly周线
momentum down — fresh downturn动能向下——刚刚转弱
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range width percentile波幅宽度分位
52/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Estimate revisions预期修正
Analysts covering覆盖分析师
3
Estimate direction预期调整方向
mostly cutting多数下调
Estimate change, 90 days预期变化（90天）
-10.9%
Net upgrades, 30 days净上调（30天）
-1
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Tracked funds holding it跟踪基金持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | Position市值 |
|---|---|---|---|---|
| Coatue Management | A | New position新建仓 | 0.2% | $62M |
| Soros Fund Management | B | Exited清仓 | 0.0% | $13M |
Fund positioning基金持仓概览
Tracked funds in the name持有该股的跟踪基金
2
Buying vs selling买入vs卖出
1 : 1
Quarterly trend季度趋势
{'direction': 'distributing', 'n_quarters': 14, 'holders_first': 1, 'holders_last': 0, 'holders_delta': -1, 'value_change_pct': -100.0, 'from_period': '2023-03-31', 'to_period': '2026-06-30', 'available_on': '', 'available_on_first': '2023-05-15', 'holders_series': [1, 1, 0, 0, 1, 1, 1, 0, 0, 1, 2, 1, 1, 0]}{'direction': 'distributing', 'n_quarters': 14, 'holders_first': 1, 'holders_last': 0, 'holders_delta': -1, 'value_change_pct': -100.0, 'from_period': '2023-03-31', 'to_period': '2026-06-30', 'available_on': '', 'available_on_first': '2023-05-15', 'holders_series': [1, 1, 0, 0, 1, 1, 1, 0, 0, 1, 2, 1, 1, 0]}
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
-$9.9M
Insider buyers vs sellers内部人买家vs卖家
1 : 3
Short interest空头占流通盘
17.9%
Days to cover回补天数
2.9
Short interest change空头变化
-2.8%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Seasonality — full detail季节性 — 完整明细
Strongest month最强月份
Feb · 67%
Weakest month最弱月份
Apr · 0%
Month by month逐月统计
| Month月份 | Closed higher收涨占比 | Median move中位涨跌 | Years年数 |
|---|---|---|---|
| Jan1月 | 33% | -9.0% | 3 |
| Feb2月 | 67% | +21.3% | 3 |
| Mar3月 | 33% | -3.5% | 3 |
| Apr4月 | 0% | -12.1% | 3 |
| May5月 | 67% | +17.7% | 3 |
| Jun6月 | 25% | -7.8% | 4 |
| Jul7月 | 25% | -8.5% | 4 |
| Aug8月 | 67% | +6.0% | 3 |
| Sep9月 | 0% | -5.3% | 3 |
| Oct10月 | 0% | -28.7% | 3 |
| Nov11月 | 33% | -3.8% | 3 |
| Dec12月 | 67% | +11.1% | 3 |
History is a tendency, not a promise — small samples wobble.历史规律只是倾向而非保证 — 样本少时波动大。
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。