ENVX Stock Analysis: Enovix | NASDAQ
Electrical Equipment & Parts | NASDAQ, USA | Market Cap: 610m USD | 12M Return: -79.4% | US2935941078 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 20.0M
Qual. Beats: 0
Rev. Trend: 81.7%
Qual. Beats: 2
Warnings
Tailwinds
No distinct edge detected
Seasonality 5.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Enovix Corporation (NASDAQ: ENVX) designs, develops, and manufactures lithium-ion battery cells, serving markets including wearables and IoT, smartphones, computing, electric vehicles, and OEMs. The company was founded in 2006 and is headquartered in Fremont, California. The firm operates within the GICS Industrials sector, specifically the Electrical Components & Equipment sub-industry, and completed its IPO in July 2021. As a domestic battery cell manufacturer, Enovix participates in a competitive landscape alongside Asian-dominated incumbents, with the U.S. push for domestic battery production potentially supporting its growth outlook.
- Smartphone design wins drive initial production revenue ramp
- Asian battery giants intensify pricing pressure on cell margins
- Capital raises needed to fund manufacturing scale-up and EV expansion
| Net Income: -170.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.13 > 0.02 and ΔFCF/TA 7.22 > 1.0 |
| NWC/Revenue: 1.26k% < 20% (prev 661.9%; Δ 602.4% < -1%) |
| CFO/TA -0.13 > 3% & CFO -107.4m > Net Income -170.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 9.71 > 1.5 & < 3 |
| Outstanding Shares: last quarter (218.5m) vs 12m ago 6.68% < -2% |
| Gross Margin: -23.70% > 18% (prev -55.13%; Δ 31.43% > 0.5%) |
| Asset Turnover: 5.66% > 50% (prev 5.67%; Δ -0.01% > 0%) |
| Interest Coverage Ratio: -4.39 > 6 (EBIT TTM -139.3m / Interest Expense TTM 31.7m) |
| A: 0.57 (Total Current Assets 505.7m - Total Current Liabilities 52.1m) / Total Assets 799.6m |
| B: -1.32 (Retained Earnings -1.06b / Total Assets 799.6m) |
| C: -0.22 (EBIT TTM -139.3m / Avg Total Assets 634.4m) |
| D: 0.36 (Book Value of Equity 209.9m / Total Liabilities 587.6m) |
| Altman-Z'' = -1.70 = D |
| DSRI: 0.43 (Receivables 3.10m/5.35m, Revenue 35.9m/26.6m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: -2.01k (AQ_t -217.0 / AQ_t-1 0.11) |
| SGI: 1.35 (Revenue 35.9m / 26.6m) |
| TATA: -0.08 (NI -170.0m - CFO -107.4m) / TA 799.6m) |
| Beneish M = -1.20k (Cap -4..+1) = AAA |
As of October 06, 2026, the stock is trading at USD 2.67 with a total of 4,544,107 shares traded. Over the past week, the price has changed by +4.50%, over one month by -23.05%, over three months by -52.49% and over the past year by -79.40%.
Current recommended Stop Loss: 2.30 (which is 13.9% or 1.7 ATR below the current price).
Enovix has received a consensus analysts rating of 4.25. Therefore, it is recommended to buy ENVX.
- StrongBuy: 8
- Buy: 0
- Hold: 3
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 11.4 | 325.1% |
P/S = 17.0035
P/B = 3.0783
Revenue TTM = 35.9m USD
EBIT TTM = -139.3m USD
EBITDA TTM = -92.7m USD
Long Term Debt = 521.0m USD (from longTermDebt, last quarter)
Short Term Debt = 10.6m USD (from shortTermDebt, last quarter)
Debt = 543.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 5.89m
Net Debt = 67.6m USD (calculated: Debt 543.4m - CCE 475.8m)
Enterprise Value = 677.7m USD (610.1m + Debt 543.4m - CCE 475.8m)
Interest Coverage Ratio = -4.39 (Ebit TTM -139.3m / Interest Expense TTM 31.7m)
EV/FCF = -6.66x (Enterprise Value 677.7m / FCF TTM -101.7m)
FCF Yield = -15.01% (FCF TTM -101.7m / Enterprise Value 677.7m)
FCF Margin = -283.4% (FCF TTM -101.7m / Revenue TTM 35.9m)
Net Margin = -473.9% (Net Income TTM -170.0m / Revenue TTM 35.9m)
Gross Margin = -23.70% ((Revenue TTM 35.9m - Cost of Revenue TTM 44.4m) / Revenue TTM)
Gross Margin QoQ = 14.43% (prev -102.9%)
Tobins Q-Ratio = 0.85 (Enterprise Value 677.7m / Total Assets 799.6m)
Interest Expense / Debt = 5.83% (Interest Expense 31.7m / Debt 543.4m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -110.0m (EBIT -139.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 7.87 (Total Current Assets 505.7m / Total Current Liabilities 64.3m)
Debt / Equity = 2.59 (Debt 543.4m / totalStockholderEquity, last quarter 209.9m)
Debt / EBITDA = -0.73 (negative EBITDA) (Net Debt 67.6m / EBITDA -92.7m)
Debt / FCF = -0.66 (negative FCF - burning cash) (Net Debt 67.6m / FCF TTM -101.7m)
Total Stockholder Equity = 254.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -26.80% (Net Income -170.0m / Total Assets 799.6m)
RoE = -66.93% (Net Income TTM -170.0m / Total Stockholder Equity 254.0m)
RoCE = -17.97% (EBIT -139.3m / Capital Employed (Equity 254.0m + L.T.Debt 521.0m))
RoIC = -14.55% (negative operating profit) (NOPAT -110.0m / Invested Capital 756.3m)
WACC = 12.37% (E(610.1m)/V(1.15b) * Re(19.29%) + D(543.4m)/V(1.15b) * Rd(5.83%) * (1-Tc(0.21)))
Discount Rate = 19.29% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 98.59 | Cagr: 12.35%
[DCF] Fair Price = unknown (Cash Flow -101.7m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.33 | # QB: 0
Revenue Correlation: 81.71 | Revenue CAGR: 130.2% | SUE: 1.39 | # QB: 2
EPS current Quarter (2026-09-30): EPS=-0.15 | Chg30d=-2.31% | Revisions=-18% | Analysts=10
EPS current Year (2026-12-31): EPS=-0.57 | Chg30d=-0.23% | Revisions=+8% | GrowthEPS=-4.9% | GrowthRev=+21.6%
EPS next Year (2027-12-31): EPS=-0.63 | Chg30d=-10.43% | Revisions=-22% | GrowthEPS=-11.6% | GrowthRev=+100.1%
[Analyst] Revisions Ratio: -12% (up=10, down=13)