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Side-by-side financial comparison of Enphase Energy (ENPH) and NEW JERSEY RESOURCES CORP (NJR). Click either name above to swap in a different company.
NEW JERSEY RESOURCES CORP is the larger business by last-quarter revenue ($939.4M vs $282.9M, roughly 3.3× Enphase Energy). NEW JERSEY RESOURCES CORP runs the higher net margin — 23.3% vs -2.6%, a 25.9% gap on every dollar of revenue. On growth, Enphase Energy posted the faster year-over-year revenue change (-20.6% vs -33.0%). Over the past eight quarters, NEW JERSEY RESOURCES CORP's revenue compounded faster (111.6% 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.
New Jersey Resources is an energy services holding company based in Wall Township, New Jersey. It is a Fortune 1000 company, and a member of the Forbes Platinum 400. New Jersey Natural Gas is its principal subsidiary.
ENPH vs NJR — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $939.4M |
| Net Profit | $-7.4M | $218.9M |
| Gross Margin | 35.5% | — |
| Operating Margin | 54.0% | 32.0% |
| Net Margin | -2.6% | 23.3% |
| Revenue YoY | -20.6% | -33.0% |
| Net Profit YoY | -124.9% | 7.2% |
| EPS (diluted) | $-0.06 | $2.16 |
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 | $939.4M | ||
| Q4 25 | $343.3M | $440.9M | ||
| Q3 25 | $410.4M | $188.3M | ||
| Q2 25 | $363.2M | $234.8M | ||
| Q1 25 | $356.1M | $569.2M | ||
| Q4 24 | $382.7M | $359.0M | ||
| Q3 24 | $380.9M | $265.7M | ||
| Q2 24 | $303.5M | $209.9M |
| Q1 26 | $-7.4M | $218.9M | ||
| Q4 25 | $38.7M | $122.5M | ||
| Q3 25 | $66.6M | $15.1M | ||
| Q2 25 | $37.1M | $-15.1M | ||
| Q1 25 | $29.7M | $204.3M | ||
| Q4 24 | $62.2M | $131.3M | ||
| Q3 24 | $45.8M | $91.1M | ||
| Q2 24 | $10.8M | $-11.6M |
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | — | ||
| Q3 25 | 47.8% | — | ||
| Q2 25 | 46.9% | — | ||
| Q1 25 | 47.2% | — | ||
| Q4 24 | 51.8% | — | ||
| Q3 24 | 46.8% | — | ||
| Q2 24 | 45.2% | — |
| Q1 26 | 54.0% | 32.0% | ||
| Q4 25 | 6.5% | 40.6% | ||
| Q3 25 | 16.1% | 21.5% | ||
| Q2 25 | 10.2% | -0.5% | ||
| Q1 25 | 9.0% | 49.2% | ||
| Q4 24 | 14.3% | 52.8% | ||
| Q3 24 | 13.1% | 55.0% | ||
| Q2 24 | 0.6% | 2.8% |
| Q1 26 | -2.6% | 23.3% | ||
| Q4 25 | 11.3% | 27.8% | ||
| Q3 25 | 16.2% | 8.0% | ||
| Q2 25 | 10.2% | -6.4% | ||
| Q1 25 | 8.3% | 35.9% | ||
| Q4 24 | 16.2% | 36.6% | ||
| Q3 24 | 12.0% | 34.3% | ||
| Q2 24 | 3.6% | -5.5% |
| Q1 26 | $-0.06 | $2.16 | ||
| Q4 25 | $0.29 | $1.21 | ||
| Q3 25 | $0.50 | $0.15 | ||
| Q2 25 | $0.28 | $-0.15 | ||
| Q1 25 | $0.22 | $2.02 | ||
| Q4 24 | $0.46 | $1.31 | ||
| Q3 24 | $0.33 | $0.91 | ||
| Q2 24 | $0.08 | $-0.12 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | — |
| Total Assets | $2.7B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $2.4M | ||
| Q3 25 | $1.5B | $591.0K | ||
| Q2 25 | $1.5B | $931.0K | ||
| Q1 25 | $1.5B | $83.7M | ||
| Q4 24 | $1.6B | $1.9M | ||
| Q3 24 | $1.8B | $1.0M | ||
| Q2 24 | $1.6B | $22.4M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $3.3B | ||
| Q3 25 | $1.2B | $3.3B | ||
| Q2 25 | $1.2B | $3.0B | ||
| Q1 25 | $1.2B | $3.0B | ||
| Q4 24 | $1.3B | $3.0B | ||
| Q3 24 | $1.3B | $2.9B | ||
| Q2 24 | $1.3B | $2.8B |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $2.5B | ||
| Q3 25 | $995.0M | $2.4B | ||
| Q2 25 | $880.6M | $2.4B | ||
| Q1 25 | $810.7M | $2.5B | ||
| Q4 24 | $833.0M | $2.3B | ||
| Q3 24 | $931.4M | $2.2B | ||
| Q2 24 | $884.5M | $2.1B |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $7.9B | ||
| Q3 25 | $3.3B | $7.6B | ||
| Q2 25 | $3.2B | $7.3B | ||
| Q1 25 | $3.1B | $7.3B | ||
| Q4 24 | $3.2B | $7.2B | ||
| Q3 24 | $3.3B | $7.0B | ||
| Q2 24 | $3.2B | $6.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 1.32× | ||
| Q3 25 | 1.21× | 1.36× | ||
| Q2 25 | 1.37× | 1.25× | ||
| Q1 25 | 1.48× | 1.20× | ||
| Q4 24 | 1.56× | 1.29× | ||
| Q3 24 | 1.40× | 1.31× | ||
| Q2 24 | 1.47× | 1.30× |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $26.7M | ||
| Q3 25 | $13.9M | $81.2M | ||
| Q2 25 | $26.6M | $-28.9M | ||
| Q1 25 | $48.4M | $423.0M | ||
| Q4 24 | $167.3M | $-9.0M | ||
| Q3 24 | $170.1M | $64.5M | ||
| Q2 24 | $127.1M | $24.3M |
| Q1 26 | — | — | ||
| Q4 25 | $37.8M | — | ||
| Q3 25 | $5.9M | — | ||
| Q2 25 | $18.4M | — | ||
| Q1 25 | $33.8M | — | ||
| Q4 24 | $159.2M | — | ||
| Q3 24 | $161.6M | — | ||
| Q2 24 | $117.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 5.1% | — | ||
| Q1 25 | 9.5% | — | ||
| Q4 24 | 41.6% | — | ||
| Q3 24 | 42.4% | — | ||
| Q2 24 | 38.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 3.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 0.22× | ||
| Q3 25 | 0.21× | 5.39× | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 1.63× | 2.07× | ||
| Q4 24 | 2.69× | -0.07× | ||
| Q3 24 | 3.72× | 0.71× | ||
| 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.
NJR
| Utility | $640.9M | 68% |
| Nonutility | $298.5M | 32% |
