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Side-by-side financial comparison of Enphase Energy (ENPH) and INSTEEL INDUSTRIES INC (IIIN). Click either name above to swap in a different company.
Enphase Energy is the larger business by last-quarter revenue ($282.9M vs $159.9M, roughly 1.8× INSTEEL INDUSTRIES INC). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs -2.6%, a 7.4% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs -20.6%). Enphase Energy produced more free cash flow last quarter ($83.0M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% 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.
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
ENPH vs IIIN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $159.9M |
| Net Profit | $-7.4M | $7.6M |
| Gross Margin | 35.5% | 11.3% |
| Operating Margin | — | 6.0% |
| Net Margin | -2.6% | 4.7% |
| Revenue YoY | -20.6% | 23.3% |
| Net Profit YoY | -124.9% | 602.4% |
| EPS (diluted) | $-0.06 | $0.39 |
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 | $159.9M | ||
| Q3 25 | $410.4M | $177.4M | ||
| Q2 25 | $363.2M | $179.9M | ||
| Q1 25 | $356.1M | $160.7M | ||
| Q4 24 | $382.7M | $129.7M | ||
| Q3 24 | $380.9M | $134.3M | ||
| Q2 24 | $303.5M | $145.8M |
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $7.6M | ||
| Q3 25 | $66.6M | $14.6M | ||
| Q2 25 | $37.1M | $15.2M | ||
| Q1 25 | $29.7M | $10.2M | ||
| Q4 24 | $62.2M | $1.1M | ||
| Q3 24 | $45.8M | $4.7M | ||
| Q2 24 | $10.8M | $6.6M |
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | 11.3% | ||
| Q3 25 | 47.8% | 16.1% | ||
| Q2 25 | 46.9% | 17.1% | ||
| Q1 25 | 47.2% | 15.3% | ||
| Q4 24 | 51.8% | 7.3% | ||
| Q3 24 | 46.8% | 9.1% | ||
| Q2 24 | 45.2% | 10.6% |
| Q1 26 | — | — | ||
| Q4 25 | 6.5% | 6.0% | ||
| Q3 25 | 16.1% | 10.8% | ||
| Q2 25 | 10.2% | 11.0% | ||
| Q1 25 | 9.0% | 8.3% | ||
| Q4 24 | 14.3% | 1.1% | ||
| Q3 24 | 13.1% | 4.5% | ||
| Q2 24 | 0.6% | 6.0% |
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 4.7% | ||
| Q3 25 | 16.2% | 8.2% | ||
| Q2 25 | 10.2% | 8.4% | ||
| Q1 25 | 8.3% | 6.4% | ||
| Q4 24 | 16.2% | 0.8% | ||
| Q3 24 | 12.0% | 3.5% | ||
| Q2 24 | 3.6% | 4.5% |
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $0.39 | ||
| Q3 25 | $0.50 | $0.74 | ||
| Q2 25 | $0.28 | $0.78 | ||
| Q1 25 | $0.22 | $0.52 | ||
| Q4 24 | $0.46 | $0.06 | ||
| Q3 24 | $0.33 | $0.24 | ||
| Q2 24 | $0.08 | $0.34 |
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 | $15.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $358.8M |
| Total Assets | $2.7B | $456.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $15.6M | ||
| Q3 25 | $1.5B | $38.6M | ||
| Q2 25 | $1.5B | $53.7M | ||
| Q1 25 | $1.5B | $28.4M | ||
| Q4 24 | $1.6B | $36.0M | ||
| Q3 24 | $1.8B | $111.5M | ||
| Q2 24 | $1.6B | $97.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $358.8M | ||
| Q3 25 | $995.0M | $371.5M | ||
| Q2 25 | $880.6M | $356.2M | ||
| Q1 25 | $810.7M | $341.4M | ||
| Q4 24 | $833.0M | $331.6M | ||
| Q3 24 | $931.4M | $350.9M | ||
| Q2 24 | $884.5M | $346.0M |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $456.1M | ||
| Q3 25 | $3.3B | $462.6M | ||
| Q2 25 | $3.2B | $471.9M | ||
| Q1 25 | $3.1B | $421.9M | ||
| Q4 24 | $3.2B | $404.7M | ||
| Q3 24 | $3.3B | $422.6M | ||
| Q2 24 | $3.2B | $414.6M |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | — | ||
| Q3 25 | 1.21× | — | ||
| Q2 25 | 1.37× | — | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 1.47× | — |
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 | $-701.0K |
| Free Cash FlowOCF − Capex | $83.0M | $-2.2M |
| FCF MarginFCF / Revenue | 29.3% | -1.4% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | — | -0.09× |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $439.0K |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $-701.0K | ||
| Q3 25 | $13.9M | $-17.0M | ||
| Q2 25 | $26.6M | $28.5M | ||
| Q1 25 | $48.4M | $-3.3M | ||
| Q4 24 | $167.3M | $19.0M | ||
| Q3 24 | $170.1M | $16.2M | ||
| Q2 24 | $127.1M | $18.8M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $-2.2M | ||
| Q3 25 | $5.9M | $-18.7M | ||
| Q2 25 | $18.4M | $26.9M | ||
| Q1 25 | $33.8M | $-5.5M | ||
| Q4 24 | $159.2M | $16.3M | ||
| Q3 24 | $161.6M | $14.5M | ||
| Q2 24 | $117.4M | $15.5M |
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | -1.4% | ||
| Q3 25 | 1.4% | -10.6% | ||
| Q2 25 | 5.1% | 15.0% | ||
| Q1 25 | 9.5% | -3.5% | ||
| Q4 24 | 41.6% | 12.6% | ||
| Q3 24 | 42.4% | 10.8% | ||
| Q2 24 | 38.7% | 10.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 0.9% | ||
| Q3 25 | 2.0% | 1.0% | ||
| Q2 25 | 2.3% | 0.9% | ||
| Q1 25 | 4.1% | 1.4% | ||
| Q4 24 | 2.1% | 2.1% | ||
| Q3 24 | 2.2% | 1.3% | ||
| Q2 24 | 3.2% | 2.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | -0.09× | ||
| Q3 25 | 0.21× | -1.17× | ||
| Q2 25 | 0.72× | 1.88× | ||
| Q1 25 | 1.63× | -0.32× | ||
| Q4 24 | 2.69× | 17.56× | ||
| Q3 24 | 3.72× | 3.48× | ||
| Q2 24 | 11.73× | 2.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENPH
Segment breakdown not available.
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
