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Side-by-side financial comparison of Enphase Energy (ENPH) and EXPRO GROUP HOLDINGS N.V. (XPRO). Click either name above to swap in a different company.
EXPRO GROUP HOLDINGS N.V. is the larger business by last-quarter revenue ($382.1M vs $282.9M, roughly 1.4× Enphase Energy). EXPRO GROUP HOLDINGS N.V. runs the higher net margin — 1.5% vs -2.6%, a 4.1% gap on every dollar of revenue. On growth, EXPRO GROUP HOLDINGS N.V. posted the faster year-over-year revenue change (-12.5% vs -20.6%). Enphase Energy produced more free cash flow last quarter ($83.0M vs $23.2M). Over the past eight quarters, EXPRO GROUP HOLDINGS N.V.'s revenue compounded faster (-0.2% 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.
Expro is an energy services provider headquartered in Houston, Texas, United States.
ENPH vs XPRO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $282.9M | $382.1M |
| Net Profit | $-7.4M | $5.8M |
| Gross Margin | 35.5% | — |
| Operating Margin | — | 3.1% |
| Net Margin | -2.6% | 1.5% |
| Revenue YoY | -20.6% | -12.5% |
| Net Profit YoY | -124.9% | -74.9% |
| EPS (diluted) | $-0.06 | $0.05 |
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 | $382.1M | ||
| Q3 25 | $410.4M | $411.4M | ||
| Q2 25 | $363.2M | $422.7M | ||
| Q1 25 | $356.1M | $390.9M | ||
| Q4 24 | $382.7M | $436.8M | ||
| Q3 24 | $380.9M | $422.8M | ||
| Q2 24 | $303.5M | $469.6M |
| Q1 26 | $-7.4M | — | ||
| Q4 25 | $38.7M | $5.8M | ||
| Q3 25 | $66.6M | $14.0M | ||
| Q2 25 | $37.1M | $18.0M | ||
| Q1 25 | $29.7M | $13.9M | ||
| Q4 24 | $62.2M | $23.0M | ||
| Q3 24 | $45.8M | $16.3M | ||
| Q2 24 | $10.8M | $15.3M |
| 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% | 3.1% | ||
| Q3 25 | 16.1% | 6.4% | ||
| Q2 25 | 10.2% | 7.7% | ||
| Q1 25 | 9.0% | 2.6% | ||
| Q4 24 | 14.3% | 7.3% | ||
| Q3 24 | 13.1% | 6.2% | ||
| Q2 24 | 0.6% | 5.9% |
| Q1 26 | -2.6% | — | ||
| Q4 25 | 11.3% | 1.5% | ||
| Q3 25 | 16.2% | 3.4% | ||
| Q2 25 | 10.2% | 4.3% | ||
| Q1 25 | 8.3% | 3.6% | ||
| Q4 24 | 16.2% | 5.3% | ||
| Q3 24 | 12.0% | 3.8% | ||
| Q2 24 | 3.6% | 3.3% |
| Q1 26 | $-0.06 | — | ||
| Q4 25 | $0.29 | $0.05 | ||
| Q3 25 | $0.50 | $0.12 | ||
| Q2 25 | $0.28 | $0.16 | ||
| Q1 25 | $0.22 | $0.12 | ||
| Q4 24 | $0.46 | $0.20 | ||
| Q3 24 | $0.33 | $0.14 | ||
| Q2 24 | $0.08 | $0.13 |
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 | $196.1M |
| Total DebtLower is stronger | — | $79.1M |
| Stockholders' EquityBook value | $1.1B | $1.5B |
| Total Assets | $2.7B | $2.3B |
| Debt / EquityLower = less leverage | — | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $497.5M | — | ||
| Q4 25 | $1.5B | $196.1M | ||
| Q3 25 | $1.5B | $197.9M | ||
| Q2 25 | $1.5B | $206.8M | ||
| Q1 25 | $1.5B | $179.3M | ||
| Q4 24 | $1.6B | $183.0M | ||
| Q3 24 | $1.8B | $165.7M | ||
| Q2 24 | $1.6B | $133.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $79.1M | ||
| Q3 25 | $1.2B | $99.1M | ||
| Q2 25 | $1.2B | $121.1M | ||
| Q1 25 | $1.2B | $121.1M | ||
| Q4 24 | $1.3B | $121.1M | ||
| Q3 24 | $1.3B | $121.1M | ||
| Q2 24 | $1.3B | $121.1M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $995.0M | $1.5B | ||
| Q2 25 | $880.6M | $1.5B | ||
| Q1 25 | $810.7M | $1.5B | ||
| Q4 24 | $833.0M | $1.5B | ||
| Q3 24 | $931.4M | $1.5B | ||
| Q2 24 | $884.5M | $1.5B |
| 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 | $2.3B | ||
| Q4 24 | $3.2B | $2.3B | ||
| Q3 24 | $3.3B | $2.3B | ||
| Q2 24 | $3.2B | $2.3B |
| Q1 26 | — | — | ||
| Q4 25 | 1.11× | 0.05× | ||
| Q3 25 | 1.21× | 0.07× | ||
| Q2 25 | 1.37× | 0.08× | ||
| Q1 25 | 1.48× | 0.08× | ||
| Q4 24 | 1.56× | 0.08× | ||
| Q3 24 | 1.40× | 0.08× | ||
| Q2 24 | 1.47× | 0.08× |
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 | $57.1M |
| Free Cash FlowOCF − Capex | $83.0M | $23.2M |
| FCF MarginFCF / Revenue | 29.3% | 6.1% |
| Capex IntensityCapex / Revenue | — | 8.9% |
| Cash ConversionOCF / Net Profit | — | 9.89× |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $97.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $102.9M | — | ||
| Q4 25 | $47.6M | $57.1M | ||
| Q3 25 | $13.9M | $63.2M | ||
| Q2 25 | $26.6M | $48.4M | ||
| Q1 25 | $48.4M | $41.5M | ||
| Q4 24 | $167.3M | $97.4M | ||
| Q3 24 | $170.1M | $55.3M | ||
| Q2 24 | $127.1M | $-13.2M |
| Q1 26 | $83.0M | — | ||
| Q4 25 | $37.8M | $23.2M | ||
| Q3 25 | $5.9M | $39.0M | ||
| Q2 25 | $18.4M | $27.2M | ||
| Q1 25 | $33.8M | $8.4M | ||
| Q4 24 | $159.2M | $53.0M | ||
| Q3 24 | $161.6M | $23.3M | ||
| Q2 24 | $117.4M | $-49.5M |
| Q1 26 | 29.3% | — | ||
| Q4 25 | 11.0% | 6.1% | ||
| Q3 25 | 1.4% | 9.5% | ||
| Q2 25 | 5.1% | 6.4% | ||
| Q1 25 | 9.5% | 2.1% | ||
| Q4 24 | 41.6% | 12.1% | ||
| Q3 24 | 42.4% | 5.5% | ||
| Q2 24 | 38.7% | -10.5% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 8.9% | ||
| Q3 25 | 2.0% | 5.9% | ||
| Q2 25 | 2.3% | 5.0% | ||
| Q1 25 | 4.1% | 8.5% | ||
| Q4 24 | 2.1% | 10.2% | ||
| Q3 24 | 2.2% | 7.6% | ||
| Q2 24 | 3.2% | 7.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 9.89× | ||
| Q3 25 | 0.21× | 4.52× | ||
| Q2 25 | 0.72× | 2.69× | ||
| Q1 25 | 1.63× | 2.98× | ||
| Q4 24 | 2.69× | 4.23× | ||
| Q3 24 | 3.72× | 3.40× | ||
| Q2 24 | 11.73× | -0.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENPH
Segment breakdown not available.
XPRO
| NLA | $130.3M | 34% |
| ESSA | $116.3M | 30% |
| MENA | $93.0M | 24% |
| Other | $42.5M | 11% |
