ENPH vs. PWR

Last updated Jun 9, 2026

ENPH (Enphase Energy, Inc.) and PWR (Quanta Services, Inc.) are both stocks. ENPH operates in Solar (Technology), while PWR operates in Engineering & Construction (Industrials). Over the past 10 years, ENPH returned 39.56%/yr vs 40.58%/yr for PWR. At a 0.28 correlation, their price movements are largely independent.

Performance

ENPH vs. PWR - Performance Comparison

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

Returns By Period

In the year-to-date period, ENPH achieves a 77.47% return, which is significantly higher than PWR's 64.46% return. Both investments have delivered pretty close results over the past 10 years, with ENPH having a 39.56% annualized return and PWR not far ahead at 40.58%.

ENPH

• 1D: 1.44%
• 1M: 56.05%
• YTD: 77.47%
• 6M: 82.07%
• 1Y: 38.13%
• 3Y*: -31.19%
• 5Y*: -16.12%
• 10Y*: 39.56%

PWR

• 1D: -0.19%
• 1M: -6.87%
• YTD: 64.46%
• 6M: 49.89%
• 1Y: 92.19%
• 3Y*: 56.18%
• 5Y*: 49.77%
• 10Y*: 40.58%

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

ENPH vs. PWR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENPH Enphase Energy, Inc.	77.47%	-53.33%	-48.02%	-50.13%	44.83%	4.26%	571.53%	452.43%	96.27%	138.61%
PWR Quanta Services, Inc.	64.46%	33.70%	46.60%	51.70%	24.63%	59.50%	77.74%	35.84%	-22.93%	12.22%

Correlation

The correlation between ENPH and PWR is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Apr 2, 2012	0.28

Fundamentals

Market Cap ENPH : $7.47B PWR : $105.52B
EPS ENPH : $0.92 PWR : $7.29
PE Ratio ENPH : 62.08 PWR : 95.17
PEG Ratio ENPH : 1.42 PWR : 4.72
PS Ratio ENPH : 5.41 PWR : 3.51
PB Ratio ENPH : 6.78 PWR : 11.67
Total Revenue (TTM) ENPH : $1.40B PWR : $29.99B
Gross Profit (TTM) ENPH : $619.16M PWR : $4.08B
EBITDA (TTM) ENPH : $189.48M PWR : $2.40B

Return for Risk

ENPH vs. PWR — Risk / Return Rank

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

ENPH

ENPH Risk / Return Rank: 60
ENPH Sharpe Ratio Rank: 58
ENPH Sortino Ratio Rank: 62
ENPH Omega Ratio Rank: 62
ENPH Calmar Ratio Rank: 61
ENPH Martin Ratio Rank: 59

PWR

PWR Risk / Return Rank: 93
PWR Sharpe Ratio Rank: 93
PWR Sortino Ratio Rank: 91
PWR Omega Ratio Rank: 91
PWR Calmar Ratio Rank: 96
PWR Martin Ratio Rank: 95

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. PWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enphase Energy, Inc. (ENPH) and Quanta Services, Inc. (PWR). 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	PWR	Difference
Sharpe ratio: Return per unit of total volatility	0.44	2.55	-2.11
Sortino ratio: Return per unit of downside risk	1.29	3.28	-1.99
Omega ratio: Gain probability vs. loss probability	1.17	1.43	-0.26
Calmar ratio: Return relative to maximum drawdown	0.89	7.45	-6.56
Martin ratio: Return relative to average drawdown	1.60	17.97	-16.36
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. PWR - Sharpe Ratio Comparison

The current ENPH Sharpe Ratio is 0.44, which is lower than the PWR Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of ENPH and PWR, 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	PWR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	2.55	-2.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	1.41	-1.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	1.21	-0.70
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.35	-0.16

Drawdowns

ENPH vs. PWR - Drawdown Comparison

The maximum ENPH drawdown since its inception was -95.97%, roughly equal to the maximum PWR drawdown of -97.07%. Use the drawdown chart below to compare losses from any high point for ENPH and PWR.

Drawdown Indicators

	ENPH	PWR	Difference
Max Drawdown Largest peak-to-trough decline	-95.97%	-97.07%	+1.10%
Max Drawdown (1Y) Largest decline over 1 year	-43.13%	-12.45%	-30.68%
Max Drawdown (3Y) Largest decline over 3 years	-86.23%	-33.89%	-52.34%
Max Drawdown (5Y) Largest decline over 5 years	-92.23%	-33.89%	-58.34%
Max Drawdown (10Y) Largest decline over 10 years	-92.23%	-45.53%	-46.70%
Current Drawdown Current decline from peak	-83.07%	-11.64%	-71.43%
Average Drawdown Average peak-to-trough decline	-50.55%	-46.86%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.87%	5.15%	+18.72%

Volatility

ENPH vs. PWR - Volatility Comparison

Enphase Energy, Inc. (ENPH) has a higher volatility of 39.57% compared to Quanta Services, Inc. (PWR) at 11.16%. This indicates that ENPH's price experiences larger fluctuations and is considered to be riskier than PWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENPH	PWR	Difference
Volatility (1M) Calculated over the trailing 1-month period	39.57%	11.16%	+28.41%
Volatility (6M) Calculated over the trailing 6-month period	65.33%	29.60%	+35.73%
Volatility (1Y) Calculated over the trailing 1-year period	86.43%	36.37%	+50.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.11%	35.62%	+34.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.23%	33.70%	+44.53%

Dividends

ENPH vs. PWR - Dividend Comparison

ENPH has not paid dividends to shareholders, while PWR's dividend yield for the trailing twelve months is around 0.06%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ENPH Enphase Energy, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PWR Quanta Services, Inc.	0.06%	0.09%	0.09%	0.15%	0.25%	0.16%	0.29%	0.42%	0.13%

Financials

ENPH vs. PWR - Profitability Comparison

The chart below illustrates the profitability comparison between Enphase Energy, Inc. and Quanta Services, Inc. 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%.

PWR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Quanta Services, Inc. reported a gross profit of 1.11B and revenue of 7.87B. Therefore, the gross margin over that period was 14.1%.

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%.

PWR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Quanta Services, Inc. reported an operating income of 338.78M and revenue of 7.87B, resulting in an operating margin of 4.3%.

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%.

PWR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Quanta Services, Inc. reported a net income of 220.63M and revenue of 7.87B, resulting in a net margin of 2.8%.

Frequently Asked Questions

Can I hold both ENPH and PWR in my portfolio?

ENPH and PWR have a correlation of 0.26, 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 PWR?

ENPH has higher volatility (39.57%) compared to PWR (11.16%). In terms of maximum drawdown, ENPH dropped -95.97% vs PWR's -97.07%.

Which has better risk-adjusted returns?

PWR currently has the higher Sharpe Ratio (2.55 vs 0.44), 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.