Enphase Energy Inc (ENPH)

Operating return on assets (Operating ROA)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Operating income (ttm)	US$ in thousands	77,292	12,257	80,458	248,979	445,741	612,932	630,384	554,100	448,261	348,996	250,906	216,270	215,832	237,251	251,659	203,113	186,439	151,767	133,714	140,307
Total assets	US$ in thousands	3,249,680	3,264,190	3,166,580	3,232,980	3,383,010	3,553,940	3,465,880	3,380,850	3,084,280	2,697,840	2,437,110	2,263,280	2,079,260	2,230,160	2,100,660	2,194,200	1,200,100	1,092,340	997,927	1,030,790
Operating ROA		2.38%	0.38%	2.54%	7.70%	13.18%	17.25%	18.19%	16.39%	14.53%	12.94%	10.30%	9.56%	10.38%	10.64%	11.98%	9.26%	15.54%	13.89%	13.40%	13.61%

December 31, 2024 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $77,292K ÷ $3,249,680K
= 2.38%

Enphase Energy Inc's operating return on assets (operating ROA) fluctuated over the period from March 31, 2020, to December 31, 2024. The operating ROA started at 13.61% in March 2020 and generally exhibited a positive trend, reaching a peak of 18.19% in June 2023. However, the operating ROA experienced a decline in the subsequent periods, dropping to 0.38% in September 30, 2024, and slightly recovering to 2.38% by December 31, 2024.

The overall pattern suggests that Enphase Energy Inc effectively generated operating income relative to its average total assets during the analyzed period. However, the significant decrease in operating ROA towards the end of 2024 may indicate challenges or changes in the company's operational efficiency or asset management. Further analysis would be needed to understand the factors influencing the fluctuations in Enphase Energy Inc's operating ROA throughout the observed period.