Company / R&D Expense
Enphase Energy R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$189.1M
FY2025
5-year range
$105.5M / $227.3M
FY2021-FY2025
Trend
-6.1%
vs FY2024
Sector context
#129 of 264
Information Technology
What the data says
At $189M, Enphase Energy's r&d expense ranks #129 of 264 in the Information Technology sector. Declined from $227M to $189M over the past 2 years.
Based on SEC 10-K filings.
$189M in FY2025 with a 5-year CAGR of +27.6%.
Declined from $227M to $189M over the past 2 years.
Information Technology sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +3.8%
- 5-Year CAGR
- +27.6%
- 10-Year CAGR
- -
Sector benchmark
#129 of 264 in Information TechnologyTop 49% of 264This company $189.1M Sector average $924.6M
▼
-79.6% below sector average
Key checks
Key Insights
- 5-year CAGR of +27.6%, indicating consistent growth.
- In FY2025, r&d expense decreased 6.1% year-over-year.
- Ranks #129 out of 264 companies in the Information Technology sector.
- Peak r&d expense was recorded in FY2023.
Company context
Key Data Points
- Altman Z-Score 0.97 (distress zone, below 1.8 threshold)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $189.1M | -6.1% |
| FY2024 | $201.3M | -11.4% |
| FY2023 | $227.3M | +34.6% |
| FY2022 | $168.8M | +60.0% |
| FY2021 | $105.5M | +88.7% |
| FY2020 | $55.9M | +68.7% |
| FY2019 | $33.2M | +1.7% |
| FY2018 | $32.6M | -1.7% |
| FY2017 | $33.2M | -34.6% |
| FY2016 | $50.7M | -0.2% |
As of FY2025 · SEC 10-K · Updated Jul 2, 2026