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The company revolutionized the solar industry by creating a semiconductor-based microinverter that converts energy at the individual solar module level. This has led to a strong position for the company in the booming solar microinverter market. Though insufficient tax equity financing could become a problem.
ENPH had $1.5 billion in cash as of the latest quarter compared with only $84 million in short-term debt. The company also has a healthy gross margin of 44.6%. Over the past three years, ENPH has grown sales an average of 42.4% per year. Analysts expected sales to soar 147.7% year over year in the current quarter.
