A Business at a Glance
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Table of Contents SUMMARY RISK FACTORS Below is a summary of material factors that make an investment in our securities speculative or risky. Importantly, this summary does not address all of the risks and uncertainties that we face. Additional discussion of the risks and uncertainties summarized in this risk factor summary, as well as other risks and uncertainties that we face, can be found under Part I, Item 1A of this Annual Report on Form 10-K below. •We will need to improve our energy density, cycle life, fast charging, capacity roll off and gassing metrics in order to stay ahead of competition over time, which is difficult and we may not be able to do. •We rely on a new and complex manufacturing process for our operations, and achieving volume production involves a significant degree of risk and uncertainty in terms of operational performance such as yield and costs.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - | 0 |
| Net Income | -157M | -157M | -222M | -214M | -126M | -40M |
| EPS | $-0.75 | $-0.75 | $-1.19 | $-1.30 | $-1.07 | $-0.49 |
| Free Cash Flow | -114M | -114M | -185M | -166M | -95M | -47M |
| ROIC | -19.8% | -26.0% | -52.7% | -54.6% | -36.9% | -194.3% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 2.00 | 2.00 | 0.79 | 0.75 | 0.24 | 0.04 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -177M | -177M | -243M | -230M | -70M | -24M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | -57.8% | -60.5% | -88.0% | -69.7% | -36.9% | -202.3% |
| Shares Outstanding | 209M | 209M | 187M | 165M | 118M | 81M |
| Metric | 2020 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 0 | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 14M | 38M | 88M | 125M | 110M | 110M |
| SG&A | 5.7M | 30M | 79M | 74M | 73M | 73M |
| EBIT | -24M | -70M | -230M | -243M | -177M | -177M |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | -40M | -126M | -214M | -222M | -157M | -157M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 4.9M | 3.0M | 42M | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | -194.3% | -36.9% | -54.6% | -52.7% | -26.0% | -19.8% |
| ROE | -202.3% | -36.9% | -69.7% | -88.0% | -60.5% | -57.8% |
| ROA | -61.0% | -27.3% | -42.6% | -40.7% | -22.3% | -17.8% |
| Cash Flow | ||||||
| Op. Cash Flow | -20M | -51M | -105M | -109M | -95M | -95M |
| Free Cash Flow | -47M | -95M | -166M | -185M | -114M | -114M |
| Owner Earnings | -21M | -89M | -208M | -212M | -180M | -180M |
| CapEx | 27M | 44M | 62M | 76M | 18M | 18M |
| Maint. CapEx | 579K | 7.4M | 34M | 45M | 35M | 35M |
| Growth CapEx | 26M | 36M | 28M | 31M | 0 | 0 |
| D&A | 579K | 7.4M | 34M | 45M | 35M | 35M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 27K | 26K | 4K | 58M | 58M |
| Buyback Yield | N/A | 0.0% | N/A | N/A | 3.7% | 4.4% |
| Stock-Based Comp | 0 | 30M | 69M | 59M | 49M | 49M |
| Debt Repayment | 0 | 15M | 69K | 209K | 11M | 11M |
| Balance Sheet | ||||||
| Net Debt | -28M | N/A | -114M | -78M | 32M | 438M |
| Cash & Equiv. | 29M | 323M | 233M | 273M | 106M | 106M |
| Long-Term Debt | 1.6M | N/A | 169M | 170M | 519M | 519M |
| Debt/Equity | 0.04 | 0.24 | 0.75 | 0.79 | 2.00 | 2.00 |
| Interest Coverage | N/A | -13.3 | -51.7 | -35.8 | -14.3 | -14.3 |
| Equity | 36M | 356M | 258M | 247M | 271M | 271M |
| Total Assets | 65M | 441M | 564M | 527M | 879M | 879M |
| Total Liabilities | 29M | 84M | 303M | 278M | 605M | 605M |
| Intangibles | N/A | N/A | 42M | 36M | 32M | 32M |
| Retained Earnings | -207M | -385M | -599M | -821M | -978M | -978M |
| Working Capital | 22M | 307M | 262M | 241M | 477M | 477M |
| Current Assets | 33M | 330M | 323M | 295M | 542M | 542M |
| Current Liabilities | 11M | 23M | 61M | 54M | 65M | 65M |
| Per Share Data | ||||||
| EPS | -0.49 | -1.07 | -1.30 | -1.19 | -0.75 | -0.75 |
| Owner EPS | -0.25 | -0.76 | -1.26 | -1.14 | -0.86 | -0.86 |
| Book Value | 0.45 | 3.03 | 1.57 | 1.32 | 1.30 | 1.30 |
| Cash Flow/Share | -0.25 | -0.44 | -0.64 | -0.58 | -0.46 | -0.58 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 80.9M | 117.6M | 164.7M | 186.8M | 209.0M | 209.0M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -8.5 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 8.2 | 8.5 | 5.9 | 4.9 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | N/A | -7.4% | -7.8% | -8.8% | -7.1% | -8.5% |
| Market Cap | N/A | 1.3B | 2.1B | 2.1B | 1.6B | 1.3B |
| Avg. Price | N/A | 14.65 | 12.56 | 10.36 | 9.71 | 6.36 |
| Year-End Price | N/A | 10.96 | 12.90 | 11.28 | 7.63 | 6.36 |
Enovix Corp passes 1 of 9 quality checks, indicating weak fundamentals.
Total shareholder yield (buybacks) is 4.4%.
Enovix Corp (ENVX) has a 5-year average return on invested capital (ROIC) of -72.9%. This is below average and may indicate limited pricing power.
Enovix Corp (ENVX) has a market capitalization of $1.3B. It is classified as a small-cap stock.
Enovix Corp (ENVX) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 4.39%.
Enovix Corp (ENVX) operates in the Miscellaneous Electrical Machinery, Equipment & Supplies industry, within the Technology sector.
Enovix Corp (ENVX) generated $-114 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Enovix Corp (ENVX) has a debt-to-equity ratio of 2.00. This indicates higher leverage, which may increase financial risk.
Enovix Corp (ENVX) reported earnings per share (EPS) of $-0.75 in its most recent fiscal year.
Enovix Corp (ENVX) has a return on equity (ROE) of -60.5%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 5 years of financial data for Enovix Corp (ENVX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Enovix Corp (ENVX) has a book value per share of $1.30, based on its most recent annual SEC filing.