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Side-by-side financial comparison of Enphase Energy (ENPH) and CPI Card Group Inc. (PMTS). Click either name above to swap in a different company.
Enphase Energy is the larger business by last-quarter revenue ($282.9M vs $153.1M, roughly 1.8× CPI Card Group Inc.). CPI Card Group Inc. runs the higher net margin — 4.8% vs -2.6%, a 7.4% gap on every dollar of revenue. On growth, CPI Card Group Inc. posted the faster year-over-year revenue change (22.3% vs -20.6%). Enphase Energy produced more free cash flow last quarter ($83.0M vs $35.2M). Over the past eight quarters, CPI Card Group Inc.'s revenue compounded faster (16.9% 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.
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
ENPH vs PMTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $153.1M |
| Net Profit | $-7.4M | $7.3M |
| Gross Margin | 35.5% | 31.5% |
| Operating Margin | 54.0% | 12.0% |
| Net Margin | -2.6% | 4.8% |
| Revenue YoY | -20.6% | 22.3% |
| Net Profit YoY | -124.9% | 8.5% |
| EPS (diluted) | $-0.06 | $0.62 |
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 | $153.1M | ||
| Q3 25 | $410.4M | $138.0M | ||
| Q2 25 | $363.2M | $129.8M | ||
| Q1 25 | $356.1M | $122.8M | ||
| Q4 24 | $382.7M | $125.1M | ||
| Q3 24 | $380.9M | $124.8M | ||
| Q2 24 | $303.5M | $118.8M |
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $7.3M | ||
| Q3 25 | $66.6M | $2.3M | ||
| Q2 25 | $37.1M | $518.0K | ||
| Q1 25 | $29.7M | $4.8M | ||
| Q4 24 | $62.2M | $6.8M | ||
| Q3 24 | $45.8M | $1.3M | ||
| Q2 24 | $10.8M | $6.0M |
| Q1 26 | 35.5% | — | ||
| Q4 25 | 44.3% | 31.5% | ||
| Q3 25 | 47.8% | 29.7% | ||
| Q2 25 | 46.9% | 30.9% | ||
| Q1 25 | 47.2% | 33.2% | ||
| Q4 24 | 51.8% | 34.1% | ||
| Q3 24 | 46.8% | 35.8% | ||
| Q2 24 | 45.2% | 35.7% |
| Q1 26 | 54.0% | — | ||
| Q4 25 | 6.5% | 12.0% | ||
| Q3 25 | 16.1% | 9.4% | ||
| Q2 25 | 10.2% | 7.3% | ||
| Q1 25 | 9.0% | 11.5% | ||
| Q4 24 | 14.3% | 12.7% | ||
| Q3 24 | 13.1% | 14.3% | ||
| Q2 24 | 0.6% | 12.5% |
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 4.8% | ||
| Q3 25 | 16.2% | 1.7% | ||
| Q2 25 | 10.2% | 0.4% | ||
| Q1 25 | 8.3% | 3.9% | ||
| Q4 24 | 16.2% | 5.4% | ||
| Q3 24 | 12.0% | 1.0% | ||
| Q2 24 | 3.6% | 5.1% |
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $0.62 | ||
| Q3 25 | $0.50 | $0.19 | ||
| Q2 25 | $0.28 | $0.04 | ||
| Q1 25 | $0.22 | $0.40 | ||
| Q4 24 | $0.46 | $0.56 | ||
| Q3 24 | $0.33 | $0.11 | ||
| Q2 24 | $0.08 | $0.51 |
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 | $21.7M |
| Total DebtLower is stronger | — | $286.7M |
| Stockholders' EquityBook value | $1.1B | $-17.3M |
| Total Assets | $2.7B | $403.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $21.7M | ||
| Q3 25 | $1.5B | $16.0M | ||
| Q2 25 | $1.5B | $17.1M | ||
| Q1 25 | $1.5B | $31.5M | ||
| Q4 24 | $1.6B | $33.5M | ||
| Q3 24 | $1.8B | $14.7M | ||
| Q2 24 | $1.6B | $7.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $286.7M | ||
| Q3 25 | $1.2B | $308.4M | ||
| Q2 25 | $1.2B | $310.9M | ||
| Q1 25 | $1.2B | $280.7M | ||
| Q4 24 | $1.3B | $280.4M | ||
| Q3 24 | $1.3B | $280.2M | ||
| Q2 24 | $1.3B | $269.7M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $-17.3M | ||
| Q3 25 | $995.0M | $-25.7M | ||
| Q2 25 | $880.6M | $-29.0M | ||
| Q1 25 | $810.7M | $-29.7M | ||
| Q4 24 | $833.0M | $-35.6M | ||
| Q3 24 | $931.4M | $-42.8M | ||
| Q2 24 | $884.5M | $-44.6M |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $403.2M | ||
| Q3 25 | $3.3B | $407.1M | ||
| Q2 25 | $3.2B | $399.8M | ||
| Q1 25 | $3.1B | $351.9M | ||
| Q4 24 | $3.2B | $349.7M | ||
| Q3 24 | $3.3B | $342.3M | ||
| Q2 24 | $3.2B | $321.4M |
| 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 | $39.6M |
| Free Cash FlowOCF − Capex | $83.0M | $35.2M |
| FCF MarginFCF / Revenue | 29.3% | 23.0% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | — | 5.39× |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $41.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $39.6M | ||
| Q3 25 | $13.9M | $10.0M | ||
| Q2 25 | $26.6M | $4.3M | ||
| Q1 25 | $48.4M | $5.6M | ||
| Q4 24 | $167.3M | $26.7M | ||
| Q3 24 | $170.1M | $12.5M | ||
| Q2 24 | $127.1M | $-4.8M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $35.2M | ||
| Q3 25 | $5.9M | $5.3M | ||
| Q2 25 | $18.4M | $533.0K | ||
| Q1 25 | $33.8M | $292.0K | ||
| Q4 24 | $159.2M | $21.6M | ||
| Q3 24 | $161.6M | $11.1M | ||
| Q2 24 | $117.4M | $-6.0M |
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | 23.0% | ||
| Q3 25 | 1.4% | 3.8% | ||
| Q2 25 | 5.1% | 0.4% | ||
| Q1 25 | 9.5% | 0.2% | ||
| Q4 24 | 41.6% | 17.3% | ||
| Q3 24 | 42.4% | 8.9% | ||
| Q2 24 | 38.7% | -5.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 2.9% | ||
| Q3 25 | 2.0% | 3.4% | ||
| Q2 25 | 2.3% | 2.9% | ||
| Q1 25 | 4.1% | 4.3% | ||
| Q4 24 | 2.1% | 4.0% | ||
| Q3 24 | 2.2% | 1.2% | ||
| Q2 24 | 3.2% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 5.39× | ||
| Q3 25 | 0.21× | 4.32× | ||
| Q2 25 | 0.72× | 8.39× | ||
| Q1 25 | 1.63× | 1.17× | ||
| Q4 24 | 2.69× | 3.94× | ||
| Q3 24 | 3.72× | 9.70× | ||
| Q2 24 | 11.73× | -0.79× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENPH
Segment breakdown not available.
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
