To get the intrinsic value per share, we divide this by the total number of shares outstanding. ENPHASE ENERGY AKTIE und aktueller Aktienkurs. On Aug. 17, 2020, Enphase Energy announced a strategic partnership with Sonnenstromfabrik (CS Wismar GmbH), one of Europe’s most modern, high-quality manufacturers of solar modules, to develop the first high-efficiency Enphase Energized™ AC module (ACM) utilizing the Enphase IQ 7+™ microinverters for the European residential solar markets. In addition, an audio replay of the conference call will be available by calling (855) 859-2056; participant passcode 3662778, beginning approximately one hour after the call. Enphase Energy upgraded to market perform from underperform at Raymond James Mar. The current price of the firm is … Enphase Energy Inc ENPH Morningstar Rating Rating as of Nov 30, 2020. Simply Wall St is a financial technology startup focused on providing unbiased, high-quality research coverage on every listed company in the world. This results in an intrinsic value estimate of $35.87. Enphase Energy Inc (NASDAQ:ENPH) Director Thurman J. Rodgers sold 2,000,000 shares of Enphase Energy stock in a transaction on Thursday, June 11th. View our latest analysis for Enphase Energy. The refund request is subject to review and approval by the U.S. Customs and Border Protection; therefore, we have assessed the probable loss recovery in the three and nine months ended September 30, 2020 is equal to the $23.0 million approved refund requests available to us prior to issuance of the financial statements on October 27, 2020. Demand for our core microinverter products rebounded strongly in the third quarter of 2020. ENPHASE ENERGY Profil - hier finden Sie alle Informationen über ENPHASE ENERGY wie z.B. For the fourth quarter of 2020, Enphase Energy estimates both GAAP and non-GAAP financial results as follows: Revenue to be within a range of $245.0 million to $260.0 million; revenue guidance does not include any safe harbor shipments We reported revenue of $178.5 million in the third quarter of 2020, along with a record 41.0% for non-GAAP gross margin. Calculation of non-GAAP diluted net income per share for the nine months ended September 30, 2020 and September 30, 2019 excludes convertible notes due 2023 interest expense, net of tax of less than $0.1 million and $0.9 million, respectively, from non-GAAP net income. Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. If a company grows at a different rate, or if its cost of equity or risk free rate changes sharply, the output can look very different. Vielen Dank für die News Bleib gesund Optionen … The Company excluded the in-the-money portion of convertible notes due 2024 totaling 4,468 thousand shares, 3677 thousand shares and 1,288 thousand shares in the three months ended September 30, 2020, June 30, 2020 and September 30, 2019, respectively, and 3,849 thousand shares and 385 thousand shares for the nine months ended September 30, 2020 and September 30, 2019, respectively for non-GAAP weighted-average diluted shares as the Company entered into convertible note hedge transactions that reduce potential dilution to the Company’s common stock upon any conversion of the notes due 2024. Simply Wall St updates its DCF calculation for every US stock every day, so if you want to find the intrinsic value of any other stock just search here. With Enphase Energy stock trading at $68.27 per share, the total value of Enphase Energy stock (market capitalization) is $8.55B. The sequential increase in inventory was driven by the purchase of battery cell packs to support the increased shipments of Encharge™ storage systems in the fourth quarter of 2020, along with the expected increase in microinverter shipments. These forward-looking statements are based on the Company’s current expectations and inherently involve significant risks and uncertainties. * Revenue for the third quarter of 2019 of $180.1 million included approximately $8.0 million of safe harbor revenue. Simply Wall St does a detailed discounted cash flow calculation every 6 hours for every stock on the market, so if you want to find the intrinsic value of any company just search here. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. Adjustments to reconcile net income (loss) to net cash provided by operating activities: Fees paid for repurchase and exchange of convertible notes due 2023. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. How far off is Enphase Energy, Inc. (NASDAQ:ENPH) from its intrinsic value? FREMONT, Calif., Oct. 27, 2020 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems, announced today financial results for the third quarter of 2020, which included the summary below from its President and CEO, Badri Kothandaraman. (1) We sought refunds totaling approximately $39 million plus accrued interest on tariffs previously paid from September 24, 2018 to March 31, 2020 for certain microinverters that qualify for the tariff exclusion on Chinese imported microinverter products that fit the dimensions and weight limits within a Section 301 Tariff exclusion under U.S. note 20(ss)(40) to subchapter III of chapter 99 of the Harmonized Tariff Schedule of the United States. To start off with, we need to estimate the next ten years of cash flows. The company reported a record non-GAAP gross margin of 39.6%. ET by Tomi Kilgore Tesla and Chinese … We are excited about the ability to offer our customers peace of mind with our energy independent solution. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. It’s FREE. The shares were sold at an average price of $48.63, for a total value of Optionen Antworten: Boardmail an "macSteve0702" Wertpapier: Enphase Energy. Generally the first stage is higher growth, and the second stage is a lower growth phase. Relative to the current share price of $34.62, the company appears about fair value at a 3.5% discount to where the stock price trades currently. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. The call is open to the public by dialing (877) 644-1284; participant passcode 3662778. On May 20, 2020, at the Company’s annual meeting of stockholders, the stockholders approved an amendment to its certificate of incorporation to increase the number of authorized shares of the Company’s common stock. (3) Effect of dilutive in-the-money portion of convertible senior notes and warrants are included in the GAAP weighted-average diluted shares in periods where the Company has GAAP net income. We do this to reflect that growth tends to slow more in the early years than it does in later years. Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that manage solar generation, storage and communication on one intelligent platform. Enphase Energy (A1JC82 | US29355A1079) mit aktuellem Aktienkurs, Charts, News und Analysen. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. tutinix: @mac #3102 13.06.20 20:11. Accordingly, on May 20, 2020, the conversion option, convertible note hedge and warrant transactions were remeasured at fair value and were then reclassified to additional paid-in-capital in the condensed consolidated balance sheet in the second quarter of 2020 and are no longer remeasured as long as they continue to meet the conditions for equity classification. This process culminates in a single-point star rating that is updated daily. Management, Profil, Aktionärsstruktur und Bilanzdaten. Enphase Energy is a NASDAQ-listed energy technology company headquartered in Fremont, California. For the fourth quarter of 2020, Enphase Energy estimates both GAAP and non-GAAP financial results as follows: The Company has presented certain non-GAAP financial measures in this press release. CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited), CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(Unaudited). Solargain was selected by IKEA as its Australian partner to support IKEA's in-store and online solar offering and Australian consumers purchasing a Solargain-IKEA solar system can select Enphase IQ 7+ microinverters. The DCF model is not a perfect stock valuation tool. On Aug. 26, 2020 Enphase Energy announced that Solargain, one of Australia's largest and most experienced solar energy providers, selected Enphase microinverters as the premium inverter solution for its turnkey retail solar offerings in Australia. This article by Simply Wall St is general in nature. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Enphase Energy will host a conference call for analysts and investors to discuss its third quarter 2020 results and fourth quarter 2020 business outlook today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. In addition, the Enlighten™ energy management software platform gives homeowners the power of insight into the performance of their solar and storage systems. News zur ENPHASE ENERGY AKTIE und aktueller Realtime-Aktienkurs SolarEdge Stock Is Falling, While Enphase Shares Are Going Up: Here's What One Investor Is Doing How far off is Enphase Energy, Inc. (NASDAQ:ENPH) from its intrinsic value? Non-GAAP operating expenses increased to $29.6 million in the third quarter of 2020, compared to $26.0 million in the prior quarter, primarily due to an increase in our engineering and sales headcount to support innovation and growth. ENPHASE ENERGY, INC.RECONCILIATION OF NON-GAAP FINANCIAL MEASURES(In thousands, except per share data and percentages)(Unaudited). Initially, conversion of the Notes due 2025 would be settled solely in cash as a result of the Company not having the necessary number of authorized but unissued shares of its common stock available to settle the conversion option of the Notes due 2025 in shares; therefore, the conversion option, convertible note hedge and warrant transactions were classified as derivatives that required marked-to-market accounting. Please read our Financial Services Guide before deciding whether to obtain financial services from us. For the third quarter of 2020, Enphase Energy estimates both GAAP and non-GAAP financial results as follows: Revenue to be within a range of $160 million to $175 million GAAP gross margin to be within a range of 36% to 39%; non-GAAP gross margin to be within a range of 37% to 40%, excluding stock-based compensation expenses Enphase Energy, Inc. (the “Company”) is a global energy technology company. Enphase Energy Reports Financial Results for the Third Quarter of 2020, Total liabilities and stockholders’ equity. Thank you for reading. Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. We shipped approximately 478 megawatts DC, or 1,442,743 microinverters. In this calculation we've used 9.9%, which is based on a levered beta of 1.199. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" As a result, the Company will now be able to settle the Notes due 2025, convertible notes hedge and warrants through payment or delivery, as the case may be, of cash, shares of its common stock or a combination thereof, at the Company’s election. Enphase Energy Aktie: Aktueller Aktienkurs Charts Nachrichten Realtime WKN: A1JC82 | ISIN: US29355A1079 Get the latest Enphase Energy, Inc. (ENPH) stock news and headlines to help you in your trading and investing decisions. (2) Change in fair value of derivatives of $44.3 million for the nine months ended September 30, 2020, represents changes in fair value of the conversion option in the Notes due 2025, as well as the convertible note hedge and warrant transactions. Following the webcast, an archived version will be available on the website for approximately one year. 20, 2020 at 8:12 a.m. PromotedIf you're looking to trade Enphase Energy, open an account with the lowest-cost* platform trusted by professionals, Interactive Brokers. We started production shipments of our Encharge storage systems to customers in North America in July and ramped volume throughout the third quarter of 2020. Enphase Energy 10Q quarterly report filed 2020-06-30. Enphase Energy: Intelligente Solartechnologie und saubere Energie für jedermann be_ixf;ym_202012 d_06; ct_50 Do keep this in mind. Their clients from over 200 countries and territories trade stocks, options, futures, forex, bonds and funds worldwide from a single integrated account. I will use the Discounted Cash Flow (DCF) model. (1) As of September 30, 2020, we have received $16.0 million of tariff refunds and accrued for $7.0 million tariff refunds that were approved, however, not yet received on or before September 30, 2020. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Whilst important, DCF calculation shouldn’t be the only metric you look at when researching a company. It may sound complicated, but actually it is quite simple! Sales to distributors improved significantly and was broad-based geographically. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law. Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to today's value. Encharge storage systems feature Enphase Ensemble™ energy management technology, which powers the world’s first fully integrated, grid-agnostic microinverter-based solar-plus-storage system. Changes in operating assets and liabilities: Accounts payable, accrued and other liabilities (1), Net cash provided by operating activities, Issuance of convertible notes, net of issuance costs, Principal payments and financing fees on debt, Proceeds from exercise of equity awards and employee stock purchase plan, Payment of withholding taxes related to net share settlement of equity awards, Net cash provided by (used in) financing activities, Effect of exchange rate changes on cash and cash equivalents, Net increase in cash and cash equivalents, Cash, cash equivalents and restricted cash—Beginning of period, Restructuring and asset impairment charges, Acquisition related expenses and amortization, Non-recurring debt prepayment fees and non-cash interest, Shares used in basic per share calculation GAAP and Non-GAAP, Shares used in diluted per share calculation GAAP, Shares used in diluted per share calculation Non-GAAP (3) (4), GAAP gross margin of 53.2%; record non-GAAP gross margin of 41.0%, GAAP gross margin to be within a range of 37.0% to 40.0%, excluding the recovery of the remaining, GAAP operating expenses to be within a range of, Non-GAAP operating expenses to be within a range of. However, ENPH managed to generate $125.54 million in revenue and $10.85 million in operating income. If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. (4) Effect of dilutive in-the-money portion of Stock Options, RSUs, PSUs, shares to be purchased under the Company’s ESPP, the Notes due 2023 and the warrants issued in conjunction with the Notes due 2024 are included in the non-GAAP weighted-average diluted shares in periods where the Company has non-GAAP net income, which totaled 10,167 thousand shares in the three months ended June 30, 2020. Enphase Energy’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those risks described in more detail in the Company’s most recent Annual Report on Form 10-K and other documents on file with the SEC and available on the SEC’s website at www.sec.gov. Simply Wall St has no position in the stocks mentioned. A live webcast of the conference call will also be accessible from the “Investor Relations” section of the Company’s website at investor.enphase.com. On Oct. 20, 2020, Enphase Energy announced that SunCool Energy has started offering the Enphase Encharge storage system to customers in South Florida. Inventory was $37.5 million at the end of the third quarter of 2020, compared to $31.2 million at the end of the second quarter of 2020. The financial highlights for the third quarter of 2020 are listed below. IQ 7A microinverters, support up to 450W high-power modules, targeting residential and commercial solar applications. We exited the third quarter with $661.8 million in cash and generated $67.5 million in cash flow from operations. Our non-GAAP gross margin increased to 41.0% from 39.6% in the second quarter of 2020, driven by disciplined pricing and cost management. 05.05.2020 - FREMONT, Calif., May 05, 2020 (GLOBE NEWSWIRE) - Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the … To view a description of non-GAAP financial measures used and the non-GAAP reconciliation schedule for the periods presented, click here. Enphase Energy®, the Enphase logo, Encharge, Power Start, Enlighten, Enphase Energized, IQ 7+, IQ 7A, Ensemble, and other trademarks or service names are the trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners. free balance sheet analysis with six simple checks, our interactive list of high quality stocks. The non-GAAP numbers do not include the tariff refund: Our revenue and earnings for the third quarter of 2020 are provided below, compared with those of the prior quarter and the year ago quarter: (In thousands, except per share data and percentages). The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $4.38b. As of both the three and nine months ended September 30, 2020, we have recorded $23.0 million as a reduction to cost of revenues in our condensed consolidated statements of operations as the approved refunds relate to paid tariffs previously recorded to cost of revenues, therefore, we recorded the corresponding approved tariff refunds as credits to cost of revenues in the current period. The current Enterprise Value is estimated to increase to about 3.3 B. Enphase Energy shows a prevailing Real Value of $102.48 per share. Enphase Energy, Inc. (the “Company”) is a global energy technology company. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. The Encharge storage system features Enphase Power Start™ technology, allowing homeowners to start motor-driven appliances, such as air conditioners and pumps, in off-grid mode with optimal system size. In this case we have used the 10-year government bond rate (2.7%) to estimate future growth. The feedback from both installers and homeowners has been positive. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected. Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= $1.8b. Is ENPHASE ENERGY STOCK a good stock? The fair value changes in the ENPH’s convertible notes, as the stock prices increased, led to a one-time non-cash charge of $59.70 million, resulting in net loss for the quarter. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 9.9%. Relative to the current share price of $9.28, the company appears about fair value at a 6.4% discount to what it is available for right now. Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to today's value. We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Four components drive the Star Rating: (1) our assessment of the firm’s economic moat, (2) our estimate of the stock’s fair value, (3) our uncertainty around that fair value estimate and (4) the current market price. We experienced record sell-through from distribution to installers, resulting in channel inventory slightly below the low end of our typical target range. Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$452m × (1 + 2.7%) ÷ (9.9% – 2.7%) = US$6.5b, Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$6.5b ÷ ( 1 + 9.9%)10 = $2.54b. Erfahren Sie, warum Hausbesitzer und Monteure sich für Enphase entscheiden. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. Enphase energy stock analysis 2020 - Enphase fair value 2021 IS ENPHASE ENERGY A GOOD STOCK TO BUY? Learn more about the team behind Simply Wall St. We were also pleased to report our first quarter of significant revenue from the sale of Encharge storage systems. For the second quarter of 2020, Enphase Energy estimates both GAAP and non-GAAP financial results as follows: Revenue to be within a range of $115 million to $130 million GAAP and non-GAAP gross margin to be within a range of 37% to 40% 337927). Nachrichten zur Aktie Enphase Energy Inc | A1JC82 | ENPH | US29355A1079 Given that we are looking at Enphase Energy as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. At a price of $ 180.1 million included approximately $ 8.0 million of safe harbor revenue % ) to the... 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