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 ·
Decision snapshot: ENPH stock price at discount vs MELI $36.37 current versus $64.77 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 MELI'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 discount
Value edge
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ENPH FY 2025 (ended Dec 31, 2025) · MELI 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 92% equity / 8% debt · EV / Revenue 3.57x · EV / EBITDA 29.81x
MELI carries the larger enterprise value at $103.19B against $5.12B; ENPH trades on the lower EV / Revenue multiple (3.47x vs 3.57x); ENPH on the lower EV / EBITDA (18.41x vs 29.81x).
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.
MercadoLibre, 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
1.36x
Net debt / EBITDA
Leverage against operating earnings
1.16x
0.84x
Cash and equivalents
Liquid reserves on the balance sheet
$1.51B
$6.30B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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