ENPH drawdown: 89.1% below the all-time high
Enphase Energy (ENPH) is 89.1% below its all-time high, set Dec 2, 2022 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (2012).
- Below all-time high
- −89.1%
- 10.9% of ATH
- All-time high
- $336.0
- Dec 2, 2022
- Time below the high
- 3.6 yrs
- since Dec 2, 2022
- Worst-ever drawdown
- −96.0%
- May 18, 2017
- Longest underwater
- 4.7 yrs
- between all-time highs
- Today's level first reached
- Feb 4, 2020
- 6.5 yrs ago
- Last time this deep
- Nov 9, 2017
- in a previous episode
% of all-time high since 2012#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of ENPH, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Sep 17, 2014 | May 18, 2017 | −96.0% | 2.7 yrs | Jun 13, 2019 | 4.7 yrs |
| Dec 2, 2022 | Nov 20, 2025 | −92.2% | 3.0 yrs | not yet | 3.6 yrs+ |
| May 3, 2012 | Nov 16, 2012 | −77.4% | 6 mo | May 13, 2013 | 12 mo |
| Feb 21, 2020 | Mar 18, 2020 | −59.4% | 26 days | May 11, 2020 | 3 mo |
| Nov 19, 2021 | Jan 27, 2022 | −55.2% | 2 mo | Jul 28, 2022 | 8 mo |
| May 14, 2013 | Dec 12, 2013 | −49.4% | 7 mo | Jul 14, 2014 | 14 mo |
| Aug 21, 2019 | Nov 4, 2019 | −48.5% | 2 mo | Feb 4, 2020 | 5 mo |
| Jan 7, 2021 | May 13, 2021 | −46.4% | 4 mo | Oct 27, 2021 | 10 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2012: how far ENPH stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: ENPH is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is ENPH from its all-time high?
- ENPH is currently 89.1% below its all-time high, set Dec 2, 2022 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest ENPH drawdown ever?
- The deepest decline on record in our data (since 2012) took the stock 96.0% below its prior high, bottoming May 18, 2017. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 2012 (split-adjusted). "All-time" means since our price data begins — ENPH may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.