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ENPH

Enphase Energy, Inc.
CIK 0001463101 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
28.9
composite ยท 4 signals ยท CLEAN

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-01 ยท FY 2025-12-31 ยท CLEAN31.8

Earnings quality

Beneish M-Score -2.41 โ€” no manipulation profile
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-17) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -2.406,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 0.928,
    "GMI": 1.014,
    "AQI": 0.915,
    "SGI": 1.107,
    "DEPI": 0.959,
    "SGAI": 1,
    "LVGI": 0.913,
    "TATA": 0.01
  },
  "defaulted_to_neutral": [
    "SGAI"
  ],
  "sloan_accruals": 0.0105,
  "inputs": {
    "revenue_t": 1472985000,
    "revenue_t1": 1330383000,
    "total_assets_t": 3509792000,
    "net_income_t": 172133000,
    "cfo_t": 136540000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1463101/000146310126000013/0001463101-26-000013-index.htm",
    "form": "10-K",
    "filed": "2026-02-17"
  }
}
P-05 ยท FY 2025-12-31 ยท CLEAN24.0

Tax arbitrage

ETR 16.0% โ€” within normal range of statutory
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-17) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2025-12-31": 0.1596,
    "2024-12-31": 0.1456,
    "2023-12-31": 0.1446
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2025-12-31": 0.0504,
    "2024-12-31": 0.0644,
    "2023-12-31": 0.0654
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1463101/000146310126000013/0001463101-26-000013-index.htm",
    "form": "10-K",
    "filed": "2026-02-17"
  }
}
P-12 ยท FY 2025-12-31 ยท CLEAN18.2

Restatement predictor

F-Score 0.55 โ€” at or below the population base rate
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-17) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.547,
  "probability": 0.00202,
  "components": {
    "rsst": 0.0105,
    "drec": 0.0018,
    "dinv": 0.0364,
    "soft": 0.8259,
    "dcs": 0.1026,
    "droa": 0.0175,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1463101/000146310126000013/0001463101-26-000013-index.htm",
    "form": "10-K",
    "filed": "2026-02-17"
  }
}
P-13 ยท FY 2023-12-31 ยท CLEAN0.0

Zombie / distress

[FY2023 data, stale โ€” no more recent EBIT figure in XBRL] Interest coverage 50.43x โ€” servicing debt from operations
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-02-17) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": null,
    "2024-12-31": null,
    "2023-12-31": 50.429,
    "2022-12-31": 47.495
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": 5.066,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 445741000,
    "interest_expense_t": 8839000
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1463101/000146310126000013/0001463101-26-000013-index.htm",
    "form": "10-K",
    "filed": "2026-02-17"
  }
}