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Enphase EnergyWBO:ENPH +2.95%74 Return-on-Tangible-Asset is 5.58% as of Jun. 2026, which is 27% below its 10-year median of 7.68. GuruFocus rates WBO:ENPH with a GF Score™ of 74/100 and a GF Value™ of €47.35 (Significantly Undervalued). The stock has 6 warning signs investors should review. Among 1,028 Semiconductors companies, Enphase Energy ranks better than 59.82% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Enphase Energy's annualizedNet Income for the quarter that ended in Jun. 2026 was €125 Mil. Enphase Energy's average total tangible assets for the quarter that ended in Jun. 2026 was €2,247 Mil. Therefore, Enphase Energy's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 5.58%.
The historical rank and industry rank for Enphase Energy's Return-on-Tangible-Asset or its related term are showing as below:
WBO:ENPH'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -42.36 Med: 7.68 Max: 34.37
Current: 4.63
During the past 13 years, Enphase Energy's highest Return-on-Tangible-Asset was 34.37%. The lowest was -42.36%. And the median was 7.68%.
WBO:ENPH's Return-on-Tangible-Asset is ranked better than 59.82% of 1028
companies
in the Semiconductors industry
Industry Median: 2.72
vs WBO:ENPH: 4.63
Enphase Energy (WBO:ENPH) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Enphase Energy Return-on-Tangible-Asset Related Terms
Enphase Energy Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Enphase Energy's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
WBO:ENPH vs SEDG, RUN, SHLS: Return-on-Tangible-Asset Comparison
For the Solar subindustry, Enphase Energy's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Enphase Energy Return-on-Tangible-Asset vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Enphase Energy's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Enphase Energy's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 5.58% mean?
Enphase Energy (WBO:ENPH) has a Return-on-Tangible-Asset of 5.58% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Enphase Energy and its competitors. This is 27% below median its historical median of 7.68. According to the industry distribution chart, Enphase Energy ranks #413 out of 1028 companies in the Semiconductors industry, placing it in the top 40.2%.
Is Enphase Energy's Return-on-Tangible-Asset too high?
Enphase Energy's current Return-on-Tangible-Asset of 5.58% is 27% below median its 10-year median of 7.68. The Semiconductors industry median Return-on-Tangible-Asset is 2.72. Enphase Energy's value of 5.58% is 105.1% above this industry median. Based on the distribution chart, Enphase Energy ranks #413 out of 1028 companies in the Semiconductors industry, which is above the industry midpoint. Overall, Enphase Energy has a GF Score™ of 74/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Enphase Energy's Return-on-Tangible-Asset compare to SEDG and RUN?
According to the Semiconductors industry distribution chart, Enphase Energy ranks #413 out of 1028 companies for Return-on-Tangible-Asset. This puts Enphase Energy in the upper half of its industry. The industry median Return-on-Tangible-Asset is 2.72. Enphase Energy's value of 5.58% is 105.1% above this benchmark. While the company's 10-year median is 7.68 vs. the industry median of 2.72, Enphase Energy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Semiconductors company?
The median Return-on-Tangible-Asset among Semiconductors companies is 2.72, based on 1,028 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Enphase Energy's current Return-on-Tangible-Asset of 5.58% is 105.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Enphase Energy and its competitors. For the Semiconductors industry, the median Return-on-Tangible-Asset is 2.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Enphase Energy's current Return-on-Tangible-Asset is 5.58%, which is 27% below median its own 10-year median of 7.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Enphase Energy stock overvalued right now?
Based on GuruFocus' analysis, Enphase Energy (WBO:ENPH) is currently considered Significantly Undervalued. The stock's GF Value™ is €47.35, compared to a current price of €31.88 — trading 32.7% below its estimated fair value. The current Return-on-Tangible-Asset is 5.58%, which is 27% below median its 10-year median of 7.68 and 105.1% above the Semiconductors industry median of 2.72. Enphase Energy's overall GF Score™ is 74/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Enphase Energy (WBO:ENPH), the current Return-on-Tangible-Asset is 5.58% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Enphase Energy (WBO:ENPH) Overvalued in 2026?
Based on GuruFocus' analysis, Enphase Energy stock appears to be undervalued.
The current stock price of €31.88 is trading 32.7% below its estimated GF Value™ of €47.35.
GuruFocus considers Enphase Energy to be Significantly Undervalued.
Key valuation signals for WBO:ENPH:
Return-on-Tangible-Asset: 5.58% (27% below median its 10-year median of 7.68)
GF Value™: €47.35 vs. price of €31.88 (32.7% below fair value)
Industry Position: 105.1% above the Semiconductors median (#413 of 1028)
No single metric tells the full story. See the WBO:ENPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Enphase Energy is a global energy technology company. It delivers smart, easy-to-use solutions that manage solar generation, storage, and communication on one platform. The company's microinverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. Enphase derives a majority of revenue from the United States.
74GF Score
Get the complete analysis for WBO:ENPH
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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