• Enphase Energy average return on tangible equity for 2024 was 21.38, a 77.34% increase from 2023.
• Enphase Energy average return on tangible equity for 2023 was 94.35, a 21.64% decline from 2022.
• Enphase Energy average return on tangible equity for 2022 was 120.41, a 283.96% decline from 2021.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.