Enphase Energy Inc (ENPH) — Working Capital to Net Assets Ratio
Enphase Energy Inc (ENPH) has a Working Capital to Net Assets ratio of 122.3% as of March 2026. Working capital of $1.35 Billion (current assets of $1.83 Billion minus current liabilities of $481.78 Million) is measured against net assets of $1.10 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See ENPH equity to assets ratio to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Enphase Energy Inc Working Capital to Net Assets (2009–2025)
This chart shows how Enphase Energy Inc's Working Capital to Net Assets ratio has evolved across 17 annual periods from 2009 to 2025. As of March 2026, the ratio stands at 122.3%, reflecting working capital of $1.35 Billion against net assets of $1.10 Billion USD. Check ENPH goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Enphase Energy Inc (2009–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Enphase Energy Inc from 2009 to 2025, covering 17 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see ENPH company net worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 123.7% | $1.34 Billion | $1.09 Billion | $2.61 Billion | $1.26 Billion | ▼ -76.4 pp |
| 2024 | 200.1% | $1.67 Billion | $833.02 Million | $2.33 Billion | $660.09 Million | ▲ +5.8 pp |
| 2023 | 194.3% | $1.91 Billion | $983.62 Million | $2.44 Billion | $532.45 Million | ▼ -2.7 pp |
| 2022 | 197.0% | $1.63 Billion | $825.57 Million | $2.26 Billion | $638.22 Million | ▼ -40.8 pp |
| 2021 | 237.7% | $1.02 Billion | $430.17 Million | $1.46 Billion | $439.80 Million | ▲ +155.3 pp |
| 2020 | 82.4% | $399.02 Million | $483.99 Million | $933.06 Million | $534.04 Million | ▼ -27.9 pp |
| 2019 | 110.3% | $300.35 Million | $272.21 Million | $499.66 Million | $199.31 Million | ▼ -856.0 pp |
| 2018 | 966.3% | $75.14 Million | $7.78 Million | $222.30 Million | $147.16 Million | ▲ +1390.4 pp |
| 2017 | -424.1% | $38.70 Million | $-9.13 Million | $130.45 Million | $91.74 Million | ▼ -3123.5 pp |
| 2016 | 2699.4% | $35.09 Million | $1.30 Million | $117.86 Million | $82.77 Million | ▲ +2581.4 pp |
| 2015 | 118.0% | $48.92 Million | $41.45 Million | $121.77 Million | $72.85 Million | ▼ -1.7 pp |
| 2014 | 119.7% | $56.19 Million | $46.95 Million | $114.90 Million | $58.71 Million | ▼ -22.5 pp |
| 2013 | 142.1% | $57.14 Million | $40.21 Million | $90.51 Million | $33.37 Million | ▲ +34.2 pp |
| 2012 | 107.9% | $61.14 Million | $56.66 Million | $95.00 Million | $33.85 Million | ▲ +14.8 pp |
| 2011 | 93.1% | $30.82 Million | $33.09 Million | $81.79 Million | $50.97 Million | ▼ -10.2 pp |
| 2010 | 103.3% | $39.75 Million | $38.48 Million | $52.96 Million | $13.20 Million | ▲ +22.6 pp |
| 2009 | 80.8% | $11.00 Million | $13.63 Million | $16.68 Million | $5.68 Million | — |