Filing Flows › Enphase Energy (ENPH) › Operating margin
Enphase Energy (ENPH) operating margin by quarter
Enphase Energy's operating margin was 17.7% in Q2 2026 (second quarter 2026), +11.1 pts from Q4 2025. Over the last 5 quarters it ranged from 6.5% (Q4 2025) to 17.7% (Q2 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q2 2026 | 17.7% | +11.1 pts | +7.5 pts |
| Q4 2025 | 6.5% | -9.6 pts | — |
| Q3 2025 | 16.1% | +5.9 pts | — |
| Q2 2025 | 10.2% | +1.2 pts | — |
| Q1 2025 | 9.0% | — | — |
Q2 2026 at a glance
Enphase Energy, Q2 2026: revenue $292M (-20% year over year), operating margin 17.7%, net earnings $36.1M, operating cash flow $40.3M. The chart follows the revenue to costs, profit and cash.
Questions
What is Enphase Energy's operating margin?
Enphase Energy's operating margin was 17.7% in Q2 2026 (second quarter 2026), +11.1 pts from Q4 2025.
How has Enphase Energy's operating margin changed?
Over the last 5 quarters it ranged from 6.5% (Q4 2025) to 17.7% (Q2 2026).