Enphase Energy, Inc.
$5.12B- Market cap
- $4.79B
- Debt
- +$1.84B
- Cash
- −$1.51B
Capital structure 72% equity / 28% debt · EV / Revenue 3.47x · EV / EBITDA 18.41x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt cap
Decision snapshot: ENPH stock price at premium vs JD $36.37 current versus $19.81 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at JD's multiple
Implied fair value · at ENPH's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple premium
Expensive
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ENPH FY 2025 (ended Dec 31, 2025) · JD FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 72% equity / 28% debt · EV / Revenue 3.47x · EV / EBITDA 18.41x
Capital structure 33% equity / 67% debt · EV / Revenue 0.18x · EV / EBITDA 2.51x
JD carries the larger enterprise value at $33.01B against $5.12B; JD trades on the lower EV / Revenue multiple (0.18x vs 3.47x); JD on the lower EV / EBITDA (2.51x vs 18.41x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Enphase Energy, Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
JD.com, Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
1.69x
1.33x
Net debt / EBITDA
Leverage against operating earnings
1.16x
0.94x
Cash and equivalents
Liquid reserves on the balance sheet
$1.51B
$30.49B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
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