ENVXNasdaqMiscellaneous Electrical Machinery, Equipment & SuppliesFiscal year ends December 28
Enovix Corp
Financials through Q2 FY2026, quarter ended Jul 5, 2026Last filing: 10-Q on Aug 12, 2026
$2.35−0.14 (-5.62%)
Close on Oct 19, 2026
- Market cap
- $513.48M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
19.2%
Operating margin
-557.0%
Net margin
-492.6%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +37.9% | +72.5% | – | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -202.3% | -60.5% | |
| Return on assets | – | – | -22.3% | |
| Current ratio | – | 3.04 | 8.34 | |
| Debt to equity | – | – | 1.95 | |
| Net debt to EBITDA | – | – | -2.98× | |
| Interest coverage | – | – | -8.2× | |
| Inventory turnover | – | – | 2.4× | |
| Capex to revenue | – | – | 57.3% | |
| Diluted shares | – | 80M | 208M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Enovix generated $442.61M from operations and spent $294.42M on capital expenditure, dividends and share buybacks. 80% of that went back into the business.
Generated
$442.61M
Used
$294.42M
Capital expenditure$236.00M80%Dividends$00%Share buybacks$58.42M20%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-492.6%
×Asset turnover0.05×
×Equity multiplier2.71×
=Return on equity, FY2025-60.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -492.6% | 0.05× | 2.71× | -60.5% |
| FY2024 | -963.2% | 0.04× | 2.16× | -88.0% |
| FY2023 | -2800.5% | 0.02× | 1.64× | -69.7% |
| FY2022 | -832.3% | 0.01× | 1.35× | -15.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$156.74M
- Cash generatingOperating cash flow above zero-$95.29M
- Return on assets improvedROA up on the prior year-39.4% → -29.7%
- Earnings backed by cashOperating cash flow above net income-$95.29M vs -$156.74M
- Less leverageLong-term debt to assets fell32.2% → 59.1%
- Better liquidityCurrent ratio rose5.49 → 8.34
- No dilutionShare count did not rise186M → 208M
- Gross margin improvedGross margin up on the prior year-8.86% → 19.19%
- More efficientAsset turnover rose0.04 → 0.06