ENPH vs. LLY

Last updated Jun 4, 2026

ENPH (Enphase Energy, Inc.) and LLY (Eli Lilly and Company) are both stocks. ENPH operates in Solar (Technology), while LLY operates in Drug Manufacturers - General (Healthcare). Over the past 10 years, ENPH returned 42.42%/yr vs 32.66%/yr for LLY. At a 0.13 correlation, their price movements are largely independent.

Performance

ENPH vs. LLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enphase Energy, Inc. (ENPH) and Eli Lilly and Company (LLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENPH achieves a 115.35% return, which is significantly higher than LLY's 0.72% return. Over the past 10 years, ENPH has outperformed LLY with an annualized return of 42.42%, while LLY has yielded a comparatively lower 32.66% annualized return.

ENPH

• 1D: -4.58%
• 1M: 112.11%
• YTD: 115.35%
• 6M: 134.84%
• 1Y: 57.76%
• 3Y*: -27.60%
• 5Y*: -12.52%
• 10Y*: 42.42%

LLY

• 1D: 1.37%
• 1M: 11.64%
• YTD: 0.72%
• 6M: 4.73%
• 1Y: 44.70%
• 3Y*: 35.56%
• 5Y*: 41.13%
• 10Y*: 32.66%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ENPH vs. LLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENPH Enphase Energy, Inc.	115.35%	-53.33%	-48.02%	-50.13%	44.83%	4.26%	571.53%	452.43%	96.27%	138.61%
LLY Eli Lilly and Company	0.72%	40.25%	33.30%	60.91%	34.26%	66.08%	31.04%	16.14%	40.45%	17.83%

Correlation

The correlation between ENPH and LLY is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Apr 2, 2012	0.13

Fundamentals

Market Cap ENPH : $9.06B LLY : $966.48B
EPS ENPH : $0.92 LLY : $28.14
PE Ratio ENPH : 75.33 LLY : 38.33
PEG Ratio ENPH : 1.72 LLY : 0.77
PS Ratio ENPH : 6.57 LLY : 13.41
PB Ratio ENPH : 8.22 LLY : 30.98
Total Revenue (TTM) ENPH : $1.40B LLY : $72.25B
Gross Profit (TTM) ENPH : $619.16M LLY : $59.75B
EBITDA (TTM) ENPH : $189.48M LLY : $32.97B

Return for Risk

ENPH vs. LLY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ENPH

ENPH Risk / Return Rank: 65
ENPH Sharpe Ratio Rank: 63
ENPH Sortino Ratio Rank: 67
ENPH Omega Ratio Rank: 66
ENPH Calmar Ratio Rank: 66
ENPH Martin Ratio Rank: 62

LLY

LLY Risk / Return Rank: 72
LLY Sharpe Ratio Rank: 75
LLY Sortino Ratio Rank: 70
LLY Omega Ratio Rank: 71
LLY Calmar Ratio Rank: 73
LLY Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ENPH vs. LLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enphase Energy, Inc. (ENPH) and Eli Lilly and Company (LLY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ENPH	LLY	Difference
Sharpe ratio: Return per unit of total volatility	0.69	1.19	-0.50
Sortino ratio: Return per unit of downside risk	1.59	1.75	-0.15
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.03
Calmar ratio: Return relative to maximum drawdown	1.35	1.90	-0.55
Martin ratio: Return relative to average drawdown	2.43	4.73	-2.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ENPH vs. LLY - Sharpe Ratio Comparison

The current ENPH Sharpe Ratio is 0.69, which is lower than the LLY Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of ENPH and LLY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ENPH	LLY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	1.19	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	1.26	-1.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	1.09	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.57	-0.36

Drawdowns

ENPH vs. LLY - Drawdown Comparison

The maximum ENPH drawdown since its inception was -95.97%, which is greater than LLY's maximum drawdown of -68.24%. Use the drawdown chart below to compare losses from any high point for ENPH and LLY.

Drawdown Indicators

	ENPH	LLY	Difference
Max Drawdown Largest peak-to-trough decline	-95.97%	-68.24%	-27.73%
Max Drawdown (1Y) Largest decline over 1 year	-43.13%	-23.64%	-19.49%
Max Drawdown (3Y) Largest decline over 3 years	-86.23%	-34.48%	-51.75%
Max Drawdown (5Y) Largest decline over 5 years	-92.23%	-34.48%	-57.75%
Max Drawdown (10Y) Largest decline over 10 years	-92.23%	-34.48%	-57.75%
Current Drawdown Current decline from peak	-79.46%	-4.26%	-75.20%
Average Drawdown Average peak-to-trough decline	-50.52%	-19.22%	-31.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.79%	9.49%	+14.30%

Volatility

ENPH vs. LLY - Volatility Comparison

Enphase Energy, Inc. (ENPH) has a higher volatility of 32.97% compared to Eli Lilly and Company (LLY) at 9.16%. This indicates that ENPH's price experiences larger fluctuations and is considered to be riskier than LLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENPH	LLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.97%	9.16%	+23.81%
Volatility (6M) Calculated over the trailing 6-month period	62.13%	26.81%	+35.32%
Volatility (1Y) Calculated over the trailing 1-year period	84.59%	37.88%	+46.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.64%	32.79%	+36.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.14%	30.14%	+48.00%

Dividends

ENPH vs. LLY - Dividend Comparison

ENPH has not paid dividends to shareholders, while LLY's dividend yield for the trailing twelve months is around 0.60%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENPH Enphase Energy, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LLY Eli Lilly and Company	0.60%	0.56%	0.67%	0.78%	1.07%	1.23%	1.75%	1.96%	1.94%	2.46%	2.77%	2.37%

Financials

ENPH vs. LLY - Profitability Comparison

The chart below illustrates the profitability comparison between Enphase Energy, Inc. and Eli Lilly and Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ENPH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported a gross profit of 100.39M and revenue of 282.90M. Therefore, the gross margin over that period was 35.5%.

LLY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Eli Lilly and Company reported a gross profit of 15.64B and revenue of 19.80B. Therefore, the gross margin over that period was 79.0%.

ENPH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported an operating income of -29.64M and revenue of 282.90M, resulting in an operating margin of -10.5%.

LLY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Eli Lilly and Company reported an operating income of 9.19B and revenue of 19.80B, resulting in an operating margin of 46.4%.

ENPH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported a net income of -20.31M and revenue of 282.90M, resulting in a net margin of -7.2%.

LLY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Eli Lilly and Company reported a net income of 7.40B and revenue of 19.80B, resulting in a net margin of 37.4%.

Frequently Asked Questions

Can I hold both ENPH and LLY in my portfolio?

ENPH and LLY have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENPH or LLY?

ENPH has higher volatility (32.97%) compared to LLY (9.16%). In terms of maximum drawdown, ENPH dropped -95.97% vs LLY's -68.24%.

Which has better risk-adjusted returns?

LLY currently has the higher Sharpe Ratio (1.19 vs 0.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.