Enphase Energy Inc (ENPH)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	1,201,090	1,200,260	1,199,430	1,198,600	1,293,740	1,196,950	1,201,110	1,200,280	1,199,460	1,198,630	1,197,790	1,196,950	951,594	940,244	929,015	917,873	4,898	256,452	253,174	295,216
Total stockholders’ equity	US$ in thousands	833,016	931,373	884,523	922,723	983,624	1,014,700	972,587	970,093	825,573	610,053	450,999	330,982	430,168	647,815	584,399	732,841	483,993	416,206	370,176	316,207
Debt-to-capital ratio		0.59	0.56	0.58	0.57	0.57	0.54	0.55	0.55	0.59	0.66	0.73	0.78	0.69	0.59	0.61	0.56	0.01	0.38	0.41	0.48

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,201,090K ÷ ($1,201,090K + $833,016K)
= 0.59

Enphase Energy Inc's debt-to-capital ratio has shown fluctuations over the past years. It decreased from 0.48 as of March 31, 2020, to a low of 0.01 as of December 31, 2020. However, the ratio then increased, reaching a peak of 0.78 as of March 31, 2022. Since then, the ratio has fluctuated between 0.55 and 0.59 until December 31, 2024. Overall, Enphase Energy Inc's debt-to-capital ratio indicates a varying level of financial leverage over the years, with recent values suggesting a moderate level of debt in relation to the company's capital structure.