IBDRY vs. ENPH

Last updated Jun 4, 2026

IBDRY (Iberdrola SA) and ENPH (Enphase Energy, Inc.) are both stocks. IBDRY operates in Utilities - Diversified (Utilities), while ENPH operates in Solar (Technology). Over the past 10 years, IBDRY returned 18.51%/yr vs 42.42%/yr for ENPH. At a 0.16 correlation, their price movements are largely independent.

Performance

IBDRY vs. ENPH - Performance Comparison

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

Returns By Period

In the year-to-date period, IBDRY achieves a 6.44% return, which is significantly lower than ENPH's 115.35% return. Over the past 10 years, IBDRY has underperformed ENPH with an annualized return of 18.51%, while ENPH has yielded a comparatively higher 42.42% annualized return.

IBDRY

• 1D: -0.20%
• 1M: -1.17%
• YTD: 6.44%
• 6M: 9.44%
• 1Y: 29.97%
• 3Y*: 28.29%
• 5Y*: 17.04%
• 10Y*: 18.51%

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%

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

IBDRY vs. ENPH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBDRY Iberdrola SA	6.44%	65.75%	10.02%	17.36%	3.59%	-15.13%	44.34%	33.28%	7.72%	27.83%
ENPH Enphase Energy, Inc.	115.35%	-53.33%	-48.02%	-50.13%	44.83%	4.26%	571.53%	452.43%	96.27%	138.61%

Correlation

The correlation between IBDRY and ENPH is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Apr 2, 2012	0.16

Fundamentals

Market Cap IBDRY : $153.20B ENPH : $9.06B
EPS IBDRY : $3.71 ENPH : $0.92
PE Ratio IBDRY : 24.45 ENPH : 75.33
PEG Ratio IBDRY : 2.01 ENPH : 1.72
PS Ratio IBDRY : 3.28 ENPH : 6.57
PB Ratio IBDRY : 2.57 ENPH : 8.22
Total Revenue (TTM) IBDRY : $44.56B ENPH : $1.40B
Gross Profit (TTM) IBDRY : $16.97B ENPH : $619.16M
EBITDA (TTM) IBDRY : $18.42B ENPH : $189.48M

Return for Risk

IBDRY vs. ENPH — Risk / Return Rank

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

IBDRY

IBDRY Risk / Return Rank: 82
IBDRY Sharpe Ratio Rank: 84
IBDRY Sortino Ratio Rank: 79
IBDRY Omega Ratio Rank: 79
IBDRY Calmar Ratio Rank: 84
IBDRY Martin Ratio Rank: 84

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

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.

IBDRY vs. ENPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Iberdrola SA (IBDRY) and Enphase Energy, Inc. (ENPH). 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.

	IBDRY	ENPH	Difference
Sharpe ratio Return per unit of total volatility	1.71	0.69	+1.03
Sortino ratio Return per unit of downside risk	2.28	1.59	+0.69
Omega ratio Gain probability vs. loss probability	1.31	1.20	+0.10
Calmar ratio Return relative to maximum drawdown	3.28	1.35	+1.94
Martin ratio Return relative to average drawdown	8.57	2.43	+6.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBDRY vs. ENPH - Sharpe Ratio Comparison

The current IBDRY Sharpe Ratio is 1.71, which is higher than the ENPH Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of IBDRY and ENPH, 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

	IBDRY	ENPH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	0.69	+1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	-0.18	+0.98
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.54	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.21	+0.04

Drawdowns

IBDRY vs. ENPH - Drawdown Comparison

The maximum IBDRY drawdown since its inception was -77.08%, smaller than the maximum ENPH drawdown of -95.97%. Use the drawdown chart below to compare losses from any high point for IBDRY and ENPH.

Drawdown Indicators

	IBDRY	ENPH	Difference
Max Drawdown Largest peak-to-trough decline	-77.08%	-95.97%	+18.89%
Max Drawdown (1Y) Largest decline over 1 year	-9.17%	-43.13%	+33.96%
Max Drawdown (3Y) Largest decline over 3 years	-19.11%	-86.23%	+67.12%
Max Drawdown (5Y) Largest decline over 5 years	-28.11%	-92.23%	+64.12%
Max Drawdown (10Y) Largest decline over 10 years	-37.43%	-92.23%	+54.80%
Current Drawdown Current decline from peak	-5.91%	-79.46%	+73.55%
Average Drawdown Average peak-to-trough decline	-29.49%	-50.52%	+21.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	23.79%	-20.28%

Volatility

IBDRY vs. ENPH - Volatility Comparison

The current volatility for Iberdrola SA (IBDRY) is 5.14%, while Enphase Energy, Inc. (ENPH) has a volatility of 32.97%. This indicates that IBDRY experiences smaller price fluctuations and is considered to be less risky than ENPH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBDRY	ENPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	32.97%	-27.83%
Volatility (6M) Calculated over the trailing 6-month period	13.51%	62.13%	-48.62%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	84.59%	-66.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.41%	69.64%	-48.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.43%	78.14%	-54.71%

Dividends

IBDRY vs. ENPH - Dividend Comparison

IBDRY's dividend yield for the trailing twelve months is around 3.46%, while ENPH has not paid dividends to shareholders.

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%
IBDRY Iberdrola SA	3.46%	4.18%	4.38%	4.11%	4.14%	3.77%	2.83%	3.01%	3.76%	7.28%	10.00%	1.71%

Financials

IBDRY vs. ENPH - Profitability Comparison

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

IBDRY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Iberdrola SA reported a gross profit of 6.43B and revenue of 12.02B. Therefore, the gross margin over that period was 53.5%.

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%.

IBDRY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Iberdrola SA reported an operating income of 2.59B and revenue of 12.02B, resulting in an operating margin of 21.6%.

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%.

IBDRY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Iberdrola SA reported a net income of 1.71B and revenue of 12.02B, resulting in a net margin of 14.2%.

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%.

Frequently Asked Questions

Can I hold both IBDRY and ENPH in my portfolio?

IBDRY and ENPH have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBDRY or ENPH?

ENPH has higher volatility (32.97%) compared to IBDRY (5.14%). In terms of maximum drawdown, IBDRY dropped -77.08% vs ENPH's -95.97%.

Which has better risk-adjusted returns?

IBDRY currently has the higher Sharpe Ratio (1.71 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.