Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally.
FAIL · Does not pass the screen
36.35 USD
At the last full screen 2026-09-11
Screened 2026-09-11 · the tape above runs as of 22:12 UTC · 11 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
Enphase Energy, Inc. holds its Markdown at $36.35. The statistical read favours the sellers, held for 13 days.
As held on the ledger · 2026-09-11
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 13 days
Price at the screen
$36.35
Valuation
35.99 trailing · 15.98 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.64
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
34.55%
Below 33%
Interest-bearing debt is 34.5% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
29.59%
Below 33%
Cash held in interest-bearing accounts and securities is 29.6% of assets, under the one-third limit.
Pass
Receivables
20.06%
Below 49%
Money owed to the company is 20.1% of assets, under the 49% limit.
Pass
Revenue purity
4.26%
Below 5%
Only 4.3% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-11 screen. The gold marker is the market price at the same screen. A 46.0% margin of safety to the base estimate.
Third-party analyst targets: 27 covering, consensus Buy. The average target sits +29% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-11 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Solar microinverters hit a revenue wall
Every time a new roof gets fitted with panels, the inverters quietly decide how much power actually reaches the home. Enphase built its name on that simple job, yet revenue has now dropped 21 percent while profit margins sit at just 10 percent and return on equity reaches only 14 percent. The forward multiple of 17.2 times offers little comfort when top-line growth has turned negative.
We pass despite an ethical screen clearance and a calculated margin of safety. The opportunity rating stays at none because shrinking demand for residential solar overrides the headline valuation gap between the current price and our fair value. Analyst targets cluster near 50 dollars, but those forecasts rest on the same fading installation trends the numbers already reveal.
Solar spending moves with subsidy cycles, interest rates and installer backlogs, any of which can stay weak for longer than models expect. Currency moves and component costs add further swings that a 14 percent return on equity does little to cushion. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ENPH trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-28Markdown · changed$37.35-10.2%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 10.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 85% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 13%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (27 analysts) rates it hold, with a mean price target of $43. Insiders have been net sellers over the past quarter.
2026-07-27Markup$41.57-23.9%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 23.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 85% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 13%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (27 analysts) rates it hold, with a mean price target of $43.
2026-07-18Markup$54.59+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 85% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 13%. Our forward projection puts the odds of a 10% gain over the next month near 26%. The street (27 analysts) rates it hold, with a mean price target of $43.
2026-07-03Markup$54.59+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markup$54.59Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.