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Side-by-side financial comparison of Enphase Energy (ENPH) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $282.9M, roughly 1.3× Enphase Energy). Bristow Group Inc. runs the higher net margin — 4.9% vs -2.6%, a 7.5% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs -20.6%). Enphase Energy produced more free cash flow last quarter ($83.0M vs $47.8M). Over the past eight quarters, Bristow Group Inc.'s revenue compounded faster (5.8% 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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
ENPH vs VTOL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $377.3M |
| Net Profit | $-7.4M | $18.4M |
| Gross Margin | 35.5% | — |
| Operating Margin | — | 8.5% |
| Net Margin | -2.6% | 4.9% |
| Revenue YoY | -20.6% | 6.7% |
| Net Profit YoY | -124.9% | -42.1% |
| EPS (diluted) | $-0.06 | $0.61 |
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 | $377.3M | ||
| Q3 25 | $410.4M | $386.3M | ||
| Q2 25 | $363.2M | $376.4M | ||
| Q1 25 | $356.1M | $350.5M | ||
| Q4 24 | $382.7M | $353.5M | ||
| Q3 24 | $380.9M | $365.1M | ||
| Q2 24 | $303.5M | $359.7M |
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $18.4M | ||
| Q3 25 | $66.6M | $51.5M | ||
| Q2 25 | $37.1M | $31.7M | ||
| Q1 25 | $29.7M | $27.4M | ||
| Q4 24 | $62.2M | $31.8M | ||
| Q3 24 | $45.8M | $28.2M | ||
| Q2 24 | $10.8M | $28.2M |
| 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 | — | — | ||
| Q4 25 | 6.5% | 8.5% | ||
| Q3 25 | 16.1% | 13.1% | ||
| Q2 25 | 10.2% | 11.3% | ||
| Q1 25 | 9.0% | 9.6% | ||
| Q4 24 | 14.3% | 9.0% | ||
| Q3 24 | 13.1% | 9.1% | ||
| Q2 24 | 0.6% | 12.4% |
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 4.9% | ||
| Q3 25 | 16.2% | 13.3% | ||
| Q2 25 | 10.2% | 8.4% | ||
| Q1 25 | 8.3% | 7.8% | ||
| Q4 24 | 16.2% | 9.0% | ||
| Q3 24 | 12.0% | 7.7% | ||
| Q2 24 | 3.6% | 7.8% |
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $0.61 | ||
| Q3 25 | $0.50 | $1.72 | ||
| Q2 25 | $0.28 | $1.07 | ||
| Q1 25 | $0.22 | $0.92 | ||
| Q4 24 | $0.46 | $1.07 | ||
| Q3 24 | $0.33 | $0.95 | ||
| Q2 24 | $0.08 | $0.96 |
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 | $286.2M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $1.1B | $1.1B |
| Total Assets | $2.7B | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $286.2M | ||
| Q3 25 | $1.5B | $245.5M | ||
| Q2 25 | $1.5B | $251.8M | ||
| Q1 25 | $1.5B | $191.1M | ||
| Q4 24 | $1.6B | $247.5M | ||
| Q3 24 | $1.8B | $200.3M | ||
| Q2 24 | $1.6B | $178.6M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $671.5M | ||
| Q3 25 | $1.2B | $675.0M | ||
| Q2 25 | $1.2B | $705.2M | ||
| Q1 25 | $1.2B | $701.9M | ||
| Q4 24 | $1.3B | $689.8M | ||
| Q3 24 | $1.3B | $629.1M | ||
| Q2 24 | $1.3B | $594.2M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $995.0M | $1.0B | ||
| Q2 25 | $880.6M | $984.4M | ||
| Q1 25 | $810.7M | $931.7M | ||
| Q4 24 | $833.0M | $891.7M | ||
| Q3 24 | $931.4M | $899.2M | ||
| Q2 24 | $884.5M | $849.1M |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $3.5B | $2.3B | ||
| Q3 25 | $3.3B | $2.3B | ||
| Q2 25 | $3.2B | $2.3B | ||
| Q1 25 | $3.1B | $2.2B | ||
| Q4 24 | $3.2B | $2.1B | ||
| Q3 24 | $3.3B | $2.1B | ||
| Q2 24 | $3.2B | $2.0B |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 0.63× | ||
| Q3 25 | 1.21× | 0.65× | ||
| Q2 25 | 1.37× | 0.72× | ||
| Q1 25 | 1.48× | 0.75× | ||
| Q4 24 | 1.56× | 0.77× | ||
| Q3 24 | 1.40× | 0.70× | ||
| Q2 24 | 1.47× | 0.70× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $83.0M | $47.8M |
| FCF MarginFCF / Revenue | 29.3% | 12.7% |
| Capex IntensityCapex / Revenue | — | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $76.9M | ||
| Q3 25 | $13.9M | $23.1M | ||
| Q2 25 | $26.6M | $99.0M | ||
| Q1 25 | $48.4M | $-603.0K | ||
| Q4 24 | $167.3M | $51.1M | ||
| Q3 24 | $170.1M | $66.0M | ||
| Q2 24 | $127.1M | $33.7M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $47.8M | ||
| Q3 25 | $5.9M | $-6.2M | ||
| Q2 25 | $18.4M | $67.4M | ||
| Q1 25 | $33.8M | $-52.7M | ||
| Q4 24 | $159.2M | $-32.4M | ||
| Q3 24 | $161.6M | $9.0M | ||
| Q2 24 | $117.4M | $-16.7M |
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | 12.7% | ||
| Q3 25 | 1.4% | -1.6% | ||
| Q2 25 | 5.1% | 17.9% | ||
| Q1 25 | 9.5% | -15.0% | ||
| Q4 24 | 41.6% | -9.2% | ||
| Q3 24 | 42.4% | 2.5% | ||
| Q2 24 | 38.7% | -4.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 7.7% | ||
| Q3 25 | 2.0% | 7.6% | ||
| Q2 25 | 2.3% | 8.4% | ||
| Q1 25 | 4.1% | 14.9% | ||
| Q4 24 | 2.1% | 23.6% | ||
| Q3 24 | 2.2% | 15.6% | ||
| Q2 24 | 3.2% | 14.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 4.17× | ||
| Q3 25 | 0.21× | 0.45× | ||
| Q2 25 | 0.72× | 3.12× | ||
| Q1 25 | 1.63× | -0.02× | ||
| Q4 24 | 2.69× | 1.61× | ||
| Q3 24 | 3.72× | 2.34× | ||
| Q2 24 | 11.73× | 1.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENPH
Segment breakdown not available.
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
