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Side-by-side financial comparison of Enphase Energy (ENPH) and AMICUS THERAPEUTICS, INC. (FOLD). Click either name above to swap in a different company.
Enphase Energy is the larger business by last-quarter revenue ($282.9M vs $185.2M, roughly 1.5× AMICUS THERAPEUTICS, INC.). AMICUS THERAPEUTICS, INC. runs the higher net margin — 0.9% vs -2.6%, a 3.5% gap on every dollar of revenue. On growth, AMICUS THERAPEUTICS, INC. posted the faster year-over-year revenue change (23.7% vs -20.6%). Enphase Energy produced more free cash flow last quarter ($83.0M vs $16.0M). Over the past eight quarters, AMICUS THERAPEUTICS, INC.'s revenue compounded faster (29.5% CAGR vs -3.4%).
Enphase Energy, Inc. is an American energy technology company headquartered in Fremont, California, that develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations primarily for residential customers. Enphase was established in 2006 and is the first company to successfully commercialize solar micro-inverters, which convert the direct current (DC) power generated by solar panels into grid-compatible alternating current (AC) for use or export.
Amicus Therapeutics, Inc. is a public American biopharmaceutical company based in Philadelphia, Pennsylvania. The company went public in 2007 under the Nasdaq trading symbol FOLD. This followed a 2006 planned offering and subsequent withdrawal, which would have established the trading symbol as AMTX Prior to their IPO, Amicus was funded by a variety of venture capital firms including Radius Ventures, Canaan Partners and New Enterprise Associates.
ENPH vs FOLD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $185.2M |
| Net Profit | $-7.4M | $1.7M |
| Gross Margin | 35.5% | 85.7% |
| Operating Margin | 54.0% | 8.6% |
| Net Margin | -2.6% | 0.9% |
| Revenue YoY | -20.6% | 23.7% |
| Net Profit YoY | -124.9% | -88.5% |
| EPS (diluted) | $-0.06 | $0.00 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $282.9M | — | ||
| Q4 25 | $343.3M | $185.2M | ||
| Q3 25 | $410.4M | $169.1M | ||
| Q2 25 | $363.2M | $154.7M | ||
| Q1 25 | $356.1M | $125.2M | ||
| Q4 24 | $382.7M | $149.7M | ||
| Q3 24 | $380.9M | $141.5M | ||
| Q2 24 | $303.5M | $126.7M |
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $1.7M | ||
| Q3 25 | $66.6M | $17.3M | ||
| Q2 25 | $37.1M | $-24.4M | ||
| Q1 25 | $29.7M | $-21.7M | ||
| Q4 24 | $62.2M | $14.7M | ||
| Q3 24 | $45.8M | $-6.7M | ||
| Q2 24 | $10.8M | $-15.7M |
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | 85.7% | ||
| Q3 25 | 47.8% | 88.5% | ||
| Q2 25 | 46.9% | 90.2% | ||
| Q1 25 | 47.2% | 90.7% | ||
| Q4 24 | 51.8% | 90.1% | ||
| Q3 24 | 46.8% | 90.6% | ||
| Q2 24 | 45.2% | 91.1% |
| Q1 26 | 54.0% | — | ||
| Q4 25 | 6.5% | 8.6% | ||
| Q3 25 | 16.1% | 20.3% | ||
| Q2 25 | 10.2% | -6.1% | ||
| Q1 25 | 9.0% | -6.3% | ||
| Q4 24 | 14.3% | 10.7% | ||
| Q3 24 | 13.1% | 15.3% | ||
| Q2 24 | 0.6% | 11.8% |
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 0.9% | ||
| Q3 25 | 16.2% | 10.2% | ||
| Q2 25 | 10.2% | -15.8% | ||
| Q1 25 | 8.3% | -17.3% | ||
| Q4 24 | 16.2% | 9.8% | ||
| Q3 24 | 12.0% | -4.8% | ||
| Q2 24 | 3.6% | -12.4% |
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $0.00 | ||
| Q3 25 | $0.50 | $0.06 | ||
| Q2 25 | $0.28 | $-0.08 | ||
| Q1 25 | $0.22 | $-0.07 | ||
| Q4 24 | $0.46 | $0.05 | ||
| Q3 24 | $0.33 | $-0.02 | ||
| Q2 24 | $0.08 | $-0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $497.5M | $293.5M |
| Total DebtLower is stronger | — | $392.7M |
| Stockholders' EquityBook value | $1.1B | $274.2M |
| Total Assets | $2.7B | $949.9M |
| Debt / EquityLower = less leverage | — | 1.43× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $293.5M | ||
| Q3 25 | $1.5B | $263.8M | ||
| Q2 25 | $1.5B | $231.0M | ||
| Q1 25 | $1.5B | $250.6M | ||
| Q4 24 | $1.6B | $249.9M | ||
| Q3 24 | $1.8B | $249.8M | ||
| Q2 24 | $1.6B | $260.1M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $392.7M | ||
| Q3 25 | $1.2B | $392.0M | ||
| Q2 25 | $1.2B | $391.3M | ||
| Q1 25 | $1.2B | $390.7M | ||
| Q4 24 | $1.3B | $390.1M | ||
| Q3 24 | $1.3B | $389.5M | ||
| Q2 24 | $1.3B | $388.9M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $274.2M | ||
| Q3 25 | $995.0M | $230.4M | ||
| Q2 25 | $880.6M | $204.3M | ||
| Q1 25 | $810.7M | $193.6M | ||
| Q4 24 | $833.0M | $194.0M | ||
| Q3 24 | $931.4M | $178.8M | ||
| Q2 24 | $884.5M | $132.5M |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $949.9M | ||
| Q3 25 | $3.3B | $868.8M | ||
| Q2 25 | $3.2B | $815.3M | ||
| Q1 25 | $3.1B | $789.8M | ||
| Q4 24 | $3.2B | $785.0M | ||
| Q3 24 | $3.3B | $786.6M | ||
| Q2 24 | $3.2B | $749.5M |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 1.43× | ||
| Q3 25 | 1.21× | 1.70× | ||
| Q2 25 | 1.37× | 1.92× | ||
| Q1 25 | 1.48× | 2.02× | ||
| Q4 24 | 1.56× | 2.01× | ||
| Q3 24 | 1.40× | 2.18× | ||
| Q2 24 | 1.47× | 2.93× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $102.9M | $16.3M |
| Free Cash FlowOCF − Capex | $83.0M | $16.0M |
| FCF MarginFCF / Revenue | 29.3% | 8.6% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | — | 9.62× |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $29.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $16.3M | ||
| Q3 25 | $13.9M | $35.7M | ||
| Q2 25 | $26.6M | $-26.5M | ||
| Q1 25 | $48.4M | $7.8M | ||
| Q4 24 | $167.3M | $-3.9M | ||
| Q3 24 | $170.1M | $-23.0M | ||
| Q2 24 | $127.1M | $22.7M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $16.0M | ||
| Q3 25 | $5.9M | $35.3M | ||
| Q2 25 | $18.4M | $-28.9M | ||
| Q1 25 | $33.8M | $7.5M | ||
| Q4 24 | $159.2M | $-4.2M | ||
| Q3 24 | $161.6M | $-23.3M | ||
| Q2 24 | $117.4M | $21.6M |
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | 8.6% | ||
| Q3 25 | 1.4% | 20.9% | ||
| Q2 25 | 5.1% | -18.7% | ||
| Q1 25 | 9.5% | 6.0% | ||
| Q4 24 | 41.6% | -2.8% | ||
| Q3 24 | 42.4% | -16.5% | ||
| Q2 24 | 38.7% | 17.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 0.2% | ||
| Q3 25 | 2.0% | 0.2% | ||
| Q2 25 | 2.3% | 1.6% | ||
| Q1 25 | 4.1% | 0.2% | ||
| Q4 24 | 2.1% | 0.2% | ||
| Q3 24 | 2.2% | 0.3% | ||
| Q2 24 | 3.2% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 9.62× | ||
| Q3 25 | 0.21× | 2.06× | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 2.69× | -0.27× | ||
| Q3 24 | 3.72× | — | ||
| Q2 24 | 11.73× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENPH
Segment breakdown not available.
FOLD
| Other | $105.8M | 57% |
| Galafold | $64.8M | 35% |
| Pombiliti Opfolda | $14.6M | 8% |
