(ENVX) Enovix - Overview
Sector: Industrials | Industry: Electrical Equipment & Parts | Exchange: NASDAQ (USA) | Market Cap: 1.741m USD | Total Return: -15.3% in 12m
Avg Turnover: 60.8M
Qual. Beats: 0
Rev. Trend: 86.0%
Qual. Beats: 1
Warnings
Interest Coverage Ratio -6.6 is critical
Beneish M-Score 1.00 > -1.5 - likely earnings manipulation
Altman Z'' 0.45 < 1.0 - financial distress zone
Fakeout
Tailwinds
No distinct edge detected
Enovix Corporation (ENVX) is a Fremont-based manufacturer specializing in the design and production of advanced lithium-ion battery cells. The company utilizes a proprietary 3D silicon anode architecture, which differs from traditional graphite-based horizontal winding methods to increase energy density. Its target markets include high-drain consumer electronics such as smartphones, wearables, and computing devices, with longer-term applications in the electric vehicle sector.
The battery industry is currently transitioning toward silicon-anode technology to meet the rising power demands of AI-enabled mobile devices. As a hardware-intensive business, Enovix operates within the Electrical Components & Equipment sub-industry, focusing on scaling production through both domestic facilities and international manufacturing partnerships. Investors may find it useful to evaluate the companys long-term valuation metrics on ValueRay.
- High-volume manufacturing scale-up at Fab2 facility in Malaysia
- Strategic partnerships with major smartphone OEMs for silicon-anode battery integration
- Transition to high-margin licensing and royalty revenue models
- Execution of production yield targets to achieve commercial profitability
- Rising demand for energy-dense batteries in AI-enabled mobile devices
| Net Income: -171.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 37.55 > 1.0 |
| NWC/Revenue: 1.48m% < 20% (prev 927.4%; Δ 1.48m% < -1%) |
| CFO/TA -0.00 > 3% & CFO -111.5m > Net Income -171.5m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 10.97 > 1.5 & < 3 |
| Outstanding Shares: last quarter (217.4m) vs 12m ago 13.63% < -2% |
| Gross Margin: -48.63% > 18% (prev -36.82%; Δ -11.81% > 0.5%) |
| Asset Turnover: 0.01% > 50% (prev 4.59%; Δ -4.58% > 0%) |
| Interest Coverage Ratio: -6.64 > 6 (EBIT TTM -178.6m / Interest Expense TTM 26.9m) |
| A: 0.61 (Total Current Assets 558b - Total Current Liabilities 50.9b) / Total Assets 834b |
| B: -1.22 (Retained Earnings -1016b / Total Assets 834b) |
| C: -0.00 (EBIT TTM -178.6m / Avg Total Assets 417b) |
| D: 0.41 (Book Value of Equity 241b / Total Liabilities 591b) |
| Altman-Z'' = 0.45 = B |
| DSRI: 633.6 (Receivables 3.94b/4.15m, Revenue 34.3m/22.9m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.18 (AQ_t 0.12 / AQ_t-1 0.10) |
| SGI: 1.50 (Revenue 34.3m / 22.9m) |
| TATA: -0.00 (NI -171.5m - CFO -111.5m) / TA 834b) |
| Beneish M = 518.1 (Cap -4..+1) = D |
As of June 08, 2026, the stock is trading at USD 7.28 with a total of 8,385,897 shares traded.
Over the past week, the price has changed by -8.77%,
over one month by +13.40%,
over three months by +43.03% and
over the past year by -15.25%.
Enovix has received a consensus analysts rating of 4.54. Therefore, it is recommended to buy ENVX.
- StrongBuy: 9
- Buy: 2
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 13.1 | 79.9% |
P/S = 50.7201
P/B = 7.2288
Revenue TTM = 34.3m USD
EBIT TTM = -178.6m USD
EBITDA TTM = -142.6m USD
Long Term Debt = 520.2m USD (from longTermDebt, last quarter)
Short Term Debt = 9.44b USD (from shortTermDebt, last quarter)
Debt = 20.4b USD (from shortLongTermDebtTotal, last quarter) + Leases 10.9m
Net Debt = -241b USD (calculated: Debt 20.4b - CCE 261b)
Enterprise Value = 1.74b USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = -6.64 (Ebit TTM -178.6m / Interest Expense TTM 26.9m)
EV/FCF = 0.15x (Enterprise Value 1.74b / FCF TTM 11.7b)
FCF Yield = 669.3% (FCF TTM 11.7b / Enterprise Value 1.74b)
FCF Margin = 33.9k% (FCF TTM 11.7b / Revenue TTM 34.3m)
Net Margin = -499.6% (Net Income TTM -171.5m / Revenue TTM 34.3m)
Gross Margin = -48.63% ((Revenue TTM 34.3m - Cost of Revenue TTM 51.0m) / Revenue TTM)
Gross Margin QoQ = -102.9% (prev 11.65%)
Tobins Q-Ratio = 0.00 (Enterprise Value 1.74b / Total Assets 834b)
Interest Expense / Debt = 0.13% (Interest Expense 26.9m / Debt 20.4b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -141.1m (EBIT -178.6m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.48 (Total Current Assets 558b / Total Current Liabilities 65.8b)
Debt / Equity = 0.08 (Debt 20.4b / totalStockholderEquity, last quarter 241b)
Debt / EBITDA = 1.69k (out of range, set to none) (Net Debt -241b / EBITDA -142.6m)
Debt / FCF = -20.65 (Net Debt -241b / FCF TTM 11.7b)
Total Stockholder Equity = 60.4b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.04% (Net Income -171.5m / Total Assets 834b)
RoE = -0.28% (Net Income TTM -171.5m / Total Stockholder Equity 60.4b)
RoCE = -0.29% (EBIT -178.6m / Capital Employed (Equity 60.4b + L.T.Debt 520.2m))
RoIC = -0.02% (negative operating profit) (NOPAT -141.1m / Invested Capital 792b)
WACC = 1.49% (E(1.74b)/V(22.1b) * Re(17.72%) + D(20.4b)/V(22.1b) * Rd(0.13%) * (1-Tc(0.21)))
Discount Rate = 17.72% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 100.00 | Cagr: 12.82%
[DCF] Terminal Value 75.44% ; FCFF base≈11.7b ; Y1≈11.7b ; Y5≈12.4b
[DCF] Fair Price = 1.99k (EV 193b - Net Debt -241b = Equity 433b / Shares 218.2m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.28 | # QB: 0
Revenue Correlation: 85.98 | Revenue CAGR: 205.9% | SUE: 1.20 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.15 | Chg30d=-1.04% | Revisions=+20% | Analysts=9
EPS next Quarter (2026-09-30): EPS=-0.14 | Chg30d=+1.58% | Revisions=+17% | Analysts=9
EPS current Year (2026-12-31): EPS=-0.56 | Chg30d=+1.33% | Revisions=+45% | GrowthEPS=-4.6% | GrowthRev=+27.2%
EPS next Year (2027-12-31): EPS=-0.57 | Chg30d=-13.50% | Revisions=-27% | GrowthEPS=-1.3% | GrowthRev=+125.2%
[Analyst] Revisions Ratio: +45%