WallStSmart

Enphase Energy Inc (ENPH)vsSpruce Power Holding Corp (SPRU)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Enphase Energy Inc generates 1125% more annual revenue ($1.33B vs $108.49M). ENPH leads profitability with a 10.1% profit margin vs -6.8%. ENPH earns a higher WallStSmart Score of 52/100 (C-).

ENPH

Buy

52

out of 100

Grade: C-

Growth: 2.0Profit: 6.0Value: 6.0Quality: 6.5
Piotroski: 5/9Altman Z: 1.26

SPRU

Hold

44

out of 100

Grade: D

Growth: 5.3Profit: 4.5Value: 6.7Quality: 3.5
Piotroski: 6/9Altman Z: -0.43
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ENPHUndervalued (+14.5%)

Margin of Safety

+14.5%

Fair Value

$56.38

Current Price

$36.35

$20.03 discount

UndervaluedFair: $56.38Overvalued
SPRUUndervalued (+82.3%)

Margin of Safety

+82.3%

Fair Value

$22.63

Current Price

$1.64

$20.99 discount

UndervaluedFair: $22.63Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ENPH1 strengths · Avg: 8.0/10
PEG RatioValuation
0.848/10

Growing faster than its price suggests

SPRU2 strengths · Avg: 10.0/10
Price/BookValuation
0.3x10/10

Reasonable price relative to book value

Operating MarginProfitability
30.7%10/10

Strong operational efficiency at 30.7%

Areas to Watch

ENPH4 concerns · Avg: 2.5/10
P/E RatioValuation
38.6x4/10

Premium valuation, high expectations priced in

Revenue GrowthGrowth
-19.6%2/10

Revenue declined 19.6%

EPS GrowthGrowth
-3.5%2/10

Earnings declined 3.5%

Altman Z-ScoreHealth
1.262/10

Distress zone — elevated risk

SPRU4 concerns · Avg: 2.8/10
EPS GrowthGrowth
0.0%4/10

0.0% earnings growth

Market CapQuality
$34.27M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
-10.5%2/10

ROE of -10.5% — below average capital efficiency

Revenue GrowthGrowth
-8.7%2/10

Revenue declined 8.7%

Comparative Analysis Report

WallStSmart Research

Bull Case : ENPH

The strongest argument for ENPH centers on PEG Ratio. PEG of 0.84 suggests the stock is reasonably priced for its growth.

Bull Case : SPRU

The strongest argument for SPRU centers on Price/Book, Operating Margin.

Bear Case : ENPH

The primary concerns for ENPH are P/E Ratio, Revenue Growth, EPS Growth.

Bear Case : SPRU

The primary concerns for SPRU are EPS Growth, Market Cap, Return on Equity. Debt-to-equity of 5.54 is elevated, increasing financial risk.

Key Dynamics to Monitor

ENPH profiles as a declining stock while SPRU is a turnaround play — different risk/reward profiles.

ENPH carries more volatility with a beta of 1.64 — expect wider price swings.

SPRU is growing revenue faster at -8.7% — sustainability is the question.

ENPH generates stronger free cash flow (26M), providing more financial flexibility.

Bottom Line

ENPH scores higher overall (52/100 vs 44/100). SPRU offers better value entry with a 82.3% margin of safety. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Enphase Energy Inc

TECHNOLOGY · SOLAR · USA

Enphase Energy is an American energy technology company headquartered in Fremont, California. Enphase designs and manufactures software-driven home energy solutions that span solar generation, home energy storage and web-based monitoring and control.

Spruce Power Holding Corp

TECHNOLOGY · SOLAR · USA

XL Fleet Corporation. The company is headquartered in Boston, Massachusetts.

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