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Side-by-side financial comparison of Enphase Energy (ENPH) and HUTCHMED (China) Ltd (HCM). Click either name above to swap in a different company.
Enphase Energy is the larger business by last-quarter revenue ($282.9M vs $270.8M, roughly 1.0× HUTCHMED (China) Ltd). HUTCHMED (China) Ltd runs the higher net margin — 0.7% vs -2.6%, a 3.3% gap on every dollar of revenue. On growth, HUTCHMED (China) Ltd posted the faster year-over-year revenue change (-16.5% vs -20.6%). Enphase Energy produced more free cash flow last quarter ($83.0M vs $3.4M).
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.
HUTCHMED (China) LtdHCMEarnings & Financial Report
HUTCHMED (China) Ltd is a biopharmaceutical firm focused on discovering, developing and commercializing targeted and immunotherapies for oncology and immunological diseases. It operates across China and global markets, with multiple marketed oncology drugs and a robust pipeline of late-stage clinical candidates addressing unmet patient needs.
ENPH vs HCM — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $270.8M |
| Net Profit | $-7.4M | $2.0M |
| Gross Margin | 35.5% | 37.7% |
| Operating Margin | 54.0% | -13.2% |
| Net Margin | -2.6% | 0.7% |
| Revenue YoY | -20.6% | -16.5% |
| Net Profit YoY | -124.9% | -83.6% |
| 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 | $270.8M | ||
| Q3 25 | $410.4M | — | ||
| Q2 25 | $363.2M | $277.7M | ||
| Q1 25 | $356.1M | $324.5M | ||
| Q4 24 | $382.7M | — | ||
| Q3 24 | $380.9M | — | ||
| Q2 24 | $303.5M | $305.7M |
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $2.0M | ||
| Q3 25 | $66.6M | — | ||
| Q2 25 | $37.1M | $455.0M | ||
| Q1 25 | $29.7M | $11.9M | ||
| Q4 24 | $62.2M | — | ||
| Q3 24 | $45.8M | — | ||
| Q2 24 | $10.8M | $25.8M |
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | 37.7% | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 46.9% | 0.1% | ||
| Q1 25 | 47.2% | 48.0% | ||
| Q4 24 | 51.8% | — | ||
| Q3 24 | 46.8% | — | ||
| Q2 24 | 45.2% | 41.1% |
| Q1 26 | 54.0% | — | ||
| Q4 25 | 6.5% | -13.2% | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 10.2% | -1.3% | ||
| Q1 25 | 9.0% | -5.0% | ||
| Q4 24 | 14.3% | — | ||
| Q3 24 | 13.1% | — | ||
| Q2 24 | 0.6% | -9.0% |
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 0.7% | ||
| Q3 25 | 16.2% | — | ||
| Q2 25 | 10.2% | 163.8% | ||
| Q1 25 | 8.3% | 3.7% | ||
| Q4 24 | 16.2% | — | ||
| Q3 24 | 12.0% | — | ||
| Q2 24 | 3.6% | 8.4% |
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $0.00 | ||
| Q3 25 | $0.50 | — | ||
| Q2 25 | $0.28 | $0.52 | ||
| Q1 25 | $0.22 | $0.01 | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $0.33 | — | ||
| Q2 24 | $0.08 | $0.03 |
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 | $1.4B |
| Total DebtLower is stronger | — | $93.2M |
| Stockholders' EquityBook value | $1.1B | $1.2B |
| Total Assets | $2.7B | $1.8B |
| Debt / EquityLower = less leverage | — | 0.08× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | $1.4B | ||
| Q1 25 | $1.5B | $836.1M | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.6B | $802.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $93.2M | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | $93.4M | ||
| Q1 25 | $1.2B | $82.8M | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | $82.1M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $995.0M | — | ||
| Q2 25 | $880.6M | $1.2B | ||
| Q1 25 | $810.7M | $759.9M | ||
| Q4 24 | $833.0M | — | ||
| Q3 24 | $931.4M | — | ||
| Q2 24 | $884.5M | $740.1M |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $1.8B | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | $1.8B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $3.2B | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 0.08× | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.37× | 0.08× | ||
| Q1 25 | 1.48× | 0.11× | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 1.47× | 0.11× |
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 | $8.2M |
| Free Cash FlowOCF − Capex | $83.0M | $3.4M |
| FCF MarginFCF / Revenue | 29.3% | 1.2% |
| Capex IntensityCapex / Revenue | — | 1.8% |
| Cash ConversionOCF / Net Profit | — | 4.21× |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $-96.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $8.2M | ||
| Q3 25 | $13.9M | — | ||
| Q2 25 | $26.6M | $-72.9M | ||
| Q1 25 | $48.4M | $40.3M | ||
| Q4 24 | $167.3M | — | ||
| Q3 24 | $170.1M | — | ||
| Q2 24 | $127.1M | $-39.8M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $3.4M | ||
| Q3 25 | $5.9M | — | ||
| Q2 25 | $18.4M | $-82.2M | ||
| Q1 25 | $33.8M | $32.5M | ||
| Q4 24 | $159.2M | — | ||
| Q3 24 | $161.6M | — | ||
| Q2 24 | $117.4M | $-49.9M |
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | 1.2% | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 5.1% | -29.6% | ||
| Q1 25 | 9.5% | 10.0% | ||
| Q4 24 | 41.6% | — | ||
| Q3 24 | 42.4% | — | ||
| Q2 24 | 38.7% | -16.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 1.8% | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.3% | 3.3% | ||
| Q1 25 | 4.1% | 2.4% | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 3.2% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 4.21× | ||
| Q3 25 | 0.21× | — | ||
| Q2 25 | 0.72× | -0.16× | ||
| Q1 25 | 1.63× | 3.38× | ||
| Q4 24 | 2.69× | — | ||
| Q3 24 | 3.72× | — | ||
| Q2 24 | 11.73× | -1.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
