Enovix (ENVX) Financials

$11.48 +0.26 (+2.32%)

Closing price 04:00 PM Eastern

Extended Trading

$11.51 +0.03 (+0.26%)

As of 04:57 PM Eastern

Annual Income Statements for Enovix

This table shows Enovix's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	1/2/2022	1/1/2023	12/31/2023	12/29/2024
Net Income / (Loss) Attributable to Common Shareholders	-40	-126	-52	-214	-222
Consolidated Net Income / (Loss)	-40	-126	-52	-214	-223
Net Income / (Loss) Continuing Operations	-40	-126	-52	-214	-223
Total Pre-Tax Income	-40	-126	-52	-215	-224
Total Operating Income	-24	-70	-132	-230	-243
Total Gross Profit	-3.38	-1.97	-17	-55	-2.05
Total Revenue	0.00	0.00	6.20	7.64	23
Operating Revenue	0.00	0.00	6.20	7.64	23
Total Cost of Revenue	3.38	1.97	23	63	25
Operating Cost of Revenue	3.38	1.97	23	63	25
Total Operating Expenses	20	68	115	175	241
Selling, General & Admin Expense	5.71	30	52	79	74
Research & Development Expense	14	38	58	88	125
Impairment Charge	0.00	0.00	4.92	4.41	0.00
Restructuring Charge	-	0.00	0.00	3.02	42
Total Other Income / (Expense), net	-16	-56	80	15	19
Interest Expense	0.11	0.19	-	4.46	6.79
Interest & Investment Income	-	0.04	5.23	14	12
Other Income / (Expense), net	-16	-56	75	5.88	13
Income Tax Expense	-	0.00	0.00	-0.63	-1.39
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.00	-0.06	-0.29
Basic Earnings per Share	($0.49)	($1.07)	($0.34)	($1.35)	($1.27)
Weighted Average Basic Shares Outstanding	80.37M	117.22M	152.92M	159.07M	175.04M
Diluted Earnings per Share	($0.49)	($1.07)	($0.82)	($1.38)	($1.27)
Weighted Average Diluted Shares Outstanding	80.37M	117.22M	154.15M	159.58M	175.04M
Weighted Average Basic & Diluted Shares Outstanding	80.37M	117.22M	157.78M	168.50M	191.27M

This table shows Enovix's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	1/1/2023	4/2/2023	7/2/2023	10/1/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025
Net Income / (Loss) Attributable to Common Shareholders	-11	-74	-64	-16	-60	-46	-116	-23	-37	-24	-45
Consolidated Net Income / (Loss)	-11	-74	-64	-16	-60	-46	-116	-23	-37	-24	-44
Net Income / (Loss) Continuing Operations	-11	-74	-64	-16	-60	-46	-116	-23	-37	-24	-44
Total Pre-Tax Income	-11	-74	-64	-16	-61	-47	-121	-20	-36	-24	-45
Total Operating Income	-45	-63	-52	-50	-65	-70	-89	-49	-35	-43	-44
Total Gross Profit	-9.26	-12	-14	-17	-12	-1.80	-0.66	-0.64	1.05	0.26	1.94
Total Revenue	1.09	0.02	0.04	0.20	7.38	5.27	3.77	4.32	9.72	5.10	7.47
Operating Revenue	1.09	0.02	0.04	0.20	7.38	5.27	3.77	4.32	9.72	5.10	7.47
Total Cost of Revenue	10	12	14	17	20	7.07	4.42	4.96	8.67	4.84	5.53
Operating Cost of Revenue	10	12	14	17	20	7.07	4.42	4.96	8.67	4.84	5.53
Total Operating Expenses	36	51	38	34	52	68	88	49	36	43	46
Selling, General & Admin Expense	15	27	17	17	18	20	21	21	13	17	18
Research & Development Expense	16	24	17	14	35	49	29	24	22	26	28
Restructuring Charge	-	-	0.00	3.02	-	-	38	3.66	-	-	0.00
Total Other Income / (Expense), net	34	-10	-12	34	4.11	23	-32	29	-1.78	19	-1.39
Interest Expense	-	0.00	1.27	1.56	1.63	1.66	1.69	1.72	1.72	1.72	1.71
Interest & Investment Income	-	2.47	3.15	4.33	4.13	3.56	3.33	2.86	2.59	2.43	2.43
Other Income / (Expense), net	31	-13	-14	31	1.61	22	-33	28	-2.65	18	-2.12
Income Tax Expense	-	0.00	0.00	0.00	-0.63	-0.15	-4.59	2.19	1.15	-0.16	-0.86
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.00	0.00	-0.06	-0.13	-0.08	-0.10	0.01	-0.02	0.26
Basic Earnings per Share	($0.08)	($0.47)	($0.41)	($0.10)	($0.37)	($0.28)	($0.63)	($0.13)	($0.19)	($0.12)	($0.22)
Weighted Average Basic Shares Outstanding	152.92M	155.63M	157.15M	159.83M	159.07M	168.14M	183.26M	176.68M	175.04M	191.30M	204.82M
Diluted Earnings per Share	$0.05	($0.47)	($0.41)	($0.29)	($0.21)	($0.28)	($0.63)	($0.30)	($0.02)	($0.12)	($0.22)
Weighted Average Diluted Shares Outstanding	154.15M	155.63M	157.15M	161.37M	159.58M	168.14M	183.26M	176.87M	175.04M	191.30M	204.82M
Weighted Average Basic & Diluted Shares Outstanding	157.78M	316.32M	320.25M	167.77M	168.50M	170.00M	176.28M	177.98M	191.27M	192.00M	196.60M

This table details how cash moves in and out of Enovix's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	1/2/2022	1/1/2023	12/31/2023	12/29/2024
Net Change in Cash & Equivalents	19	356	-62	-88	40
Net Cash From Operating Activities	-20	-51	-83	-105	-109
Net Cash From Continuing Operating Activities	-20	-51	-83	-105	-109
Net Income / (Loss) Continuing Operations	-40	-126	-52	-214	-223
Consolidated Net Income / (Loss)	-40	-126	-52	-214	-223
Depreciation Expense	0.58	1.52	7.97	34	45
Non-Cash Adjustments To Reconcile Net Income	17	67	-40	68	85
Changes in Operating Assets and Liabilities, net	2.19	6.14	0.80	7.10	-16
Net Cash From Investing Activities	-27	-44	-36	-143	-1.38
Net Cash From Continuing Investing Activities	-27	-44	-36	-143	-1.38
Purchase of Property, Plant & Equipment	-27	-44	-36	-62	-76
Acquisitions	-	0.00	0.00	-9.97	0.00
Purchase of Investments	-	0.00	0.00	-138	-32
Sale and/or Maturity of Investments	-	0.00	0.00	67	107
Net Cash From Financing Activities	66	451	57	160	151
Net Cash From Continuing Financing Activities	66	451	57	160	151
Repayment of Debt	0.00	-15	0.00	-5.99	-0.21
Repurchase of Common Equity	0.00	-0.03	-0.01	-0.03	-0.00
Issuance of Debt	1.63	15	0.00	173	4.57
Issuance of Common Equity	0.00	0.00	1.90	2.35	109
Other Financing Activities, net	0.36	483	55	-9.25	38
Effect of Exchange Rate Changes	-	0.00	0.00	0.15	-1.17
Cash Interest Paid	-	0.00	0.00	2.76	5.69
Cash Income Taxes Paid	-	-	0.00	0.00	0.19

This table details how cash moves in and out of Enovix's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	1/1/2023	4/2/2023	7/2/2023	10/1/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025
Net Change in Cash & Equivalents	-26	-29	49	-72	-36	-11	13	-34	72	-83	-54
Net Cash From Operating Activities	-22	-26	-24	-28	-27	-35	-27	-31	-16	-17	-26
Net Cash From Continuing Operating Activities	-22	-26	-24	-28	-27	-35	-27	-31	-16	-17	-26
Net Income / (Loss) Continuing Operations	-11	-74	-64	-16	-60	-46	-116	-23	-37	-24	-44
Consolidated Net Income / (Loss)	-11	-74	-64	-16	-60	-46	-116	-23	-37	-24	-44
Depreciation Expense	3.58	3.60	3.50	2.90	24	25	5.94	6.50	7.54	8.45	8.83
Non-Cash Adjustments To Reconcile Net Income	-18	42	34	-18	10	-8.19	88	-9.92	16	-3.30	16
Changes in Operating Assets and Liabilities, net	4.14	2.40	3.46	2.73	-1.48	-5.33	-4.75	-4.62	-1.66	1.48	-6.59
Net Cash From Investing Activities	-4.85	-3.03	-78	-51	-11	19	0.41	-4.53	-16	-64	-27
Net Cash From Continuing Investing Activities	-4.85	-3.03	-78	-51	-11	19	0.41	-4.53	-16	-64	-27
Purchase of Property, Plant & Equipment	-4.85	-3.03	-13	-17	-29	-15	-25	-20	-16	-6.27	-7.97
Acquisitions	-	-	-	-	-	0.00	-	-	-	-0.02	-9.98
Purchase of Investments	-	0.00	-66	-50	-23	-17	-15	-	-	-58	-27
Sale and/or Maturity of Investments	-	0.00	-	17	50	51	40	15	-	0.00	19
Net Cash From Financing Activities	0.53	-0.46	151	6.47	2.20	5.43	40	-0.86	107	-1.49	-1.19
Net Cash From Continuing Financing Activities	0.53	-0.46	151	6.47	2.20	5.43	40	-0.86	107	-1.49	-1.19
Other Financing Activities, net	-0.26	-0.45	-17	6.50	1.75	3.63	36	-0.75	-0.99	-0.98	-1.09
Effect of Exchange Rate Changes	-	0.00	-	-	0.15	-0.54	-0.21	2.05	-2.47	-0.23	0.13
Cash Interest Paid	-	0.00	-	-	2.76	0.02	2.75	0.18	2.74	0.13	2.84
Cash Income Taxes Paid	-	0.00	-	-	-	0.09	0.06	0.02	0.02	0.04	0.15

This table presents Enovix's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	1/2/2022	1/1/2023	12/31/2023	12/29/2024
Total Assets	65	483	441	564	527
Total Current Assets	33	398	330	323	295
Cash & Equivalents	29	385	323	233	273
Short-Term Investments	-	-	0.00	74	0.00
Note & Lease Receivable	-	-	0.00	1.51	0.00
Accounts Receivable	-	0.00	0.17	0.91	4.57
Inventories, net	-	0.00	0.63	8.74	7.66
Prepaid Expenses	0.95	8.27	5.99	5.20	9.90
Plant, Property, & Equipment, net	31	77	104	166	168
Total Noncurrent Assets	0.63	7.83	7.07	75	64
Goodwill	-	-	0.00	12	12
Intangible Assets	-	-	0.00	42	36
Other Noncurrent Operating Assets	0.63	7.83	7.07	20	16
Total Liabilities & Shareholders' Equity	65	483	441	564	527
Total Liabilities	29	156	84	303	278
Total Current Liabilities	11	21	23	61	54
Short-Term Debt	-	-	0.00	5.92	9.45
Accounts Payable	2.08	3.14	7.08	21	9.49
Accrued Expenses	2.00	7.11	7.09	14	20
Current Deferred Revenue	5.41	5.58	0.05	6.71	3.65
Current Employee Benefit Liabilities	1.27	4.10	8.10	11	8.23
Other Current Liabilities	0.11	0.71	0.72	2.44	3.04
Total Noncurrent Liabilities	18	136	61	242	224
Long-Term Debt	-	-	0.00	169	170
Noncurrent Deferred Revenue	1.65	2.29	3.72	3.77	3.77
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	0.00	11	8.78
Other Noncurrent Operating Liabilities	16	134	57	59	42
Commitments & Contingencies	0.00	0.00	-	0.00	0.00
Total Equity & Noncontrolling Interests	36	326	356	261	249
Total Preferred & Common Equity	36	326	356	258	247
Total Common Equity	36	326	356	258	247
Common Stock	243	659	741	857	1,068
Retained Earnings	-207	-333	-385	-599	-821
Accumulated Other Comprehensive Income / (Loss)	-	-	0.00	-0.06	-0.14
Noncontrolling Interest	-	-	0.00	2.96	2.66

This table presents Enovix's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	7/3/2022	10/2/2022	4/2/2023	7/2/2023	10/1/2023	3/31/2024	6/30/2024	9/29/2024	3/30/2025	6/29/2025
Total Assets	487	468	411	539	520	509	489	448	499	469
Total Current Assets	389	356	301	414	376	278	270	224	270	228
Cash & Equivalents	385	349	294	343	271	222	235	201	190	136
Short-Term Investments	-	-	-	66	101	40	15	0.00	58	67
Note & Lease Receivable	-	-	-	-	-	0.14	0.00	0.00	1.26	1.11
Accounts Receivable	0.10	0.01	0.02	0.04	0.00	1.73	1.67	1.91	2.90	4.24
Inventories, net	0.67	0.45	0.82	0.80	0.22	6.54	9.51	9.56	10	13
Prepaid Expenses	2.03	4.51	5.86	2.93	4.18	7.21	8.84	12	7.38	6.19
Plant, Property, & Equipment, net	91	104	102	118	137	159	151	158	166	178
Total Noncurrent Assets	7.46	8.06	7.09	6.88	7.49	72	68	66	63	63
Goodwill	-	-	-	-	-	12	12	12	12	12
Intangible Assets	-	-	-	-	-	40	39	38	35	34
Other Noncurrent Operating Assets	7.46	8.06	7.09	6.88	7.49	20	17	17	16	17
Total Liabilities & Shareholders' Equity	487	468	411	539	520	509	489	448	499	469
Total Liabilities	59	109	98	292	267	277	316	278	261	262
Total Current Liabilities	17	18	25	37	44	57	68	59	58	52
Short-Term Debt	-	-	-	-	-	8.49	11	12	10	10
Accounts Payable	6.13	6.82	4.75	13	18	19	19	15	21	14
Accrued Expenses	3.36	2.48	8.69	13	16	12	17	14	8.54	6.22
Current Deferred Revenue	0.28	1.37	0.35	0.35	0.00	5.31	7.01	6.21	6.63	8.07
Current Employee Benefit Liabilities	6.58	6.17	10	10	9.13	9.28	8.86	8.04	6.48	8.30
Other Current Liabilities	0.72	0.70	0.92	0.94	0.94	2.86	5.09	4.76	5.16	5.37
Total Noncurrent Liabilities	41	92	73	254	223	220	248	218	203	210
Long-Term Debt	-	-	-	167	167	168	169	169	169	169
Noncurrent Deferred Revenue	2.59	2.96	3.42	3.42	3.77	3.77	3.77	3.77	0.30	0.30
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	11	6.12	8.18	8.75	9.78
Other Noncurrent Operating Liabilities	39	89	70	84	52	37	70	38	25	31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	429	358	312	247	252	232	173	170	238	207
Total Preferred & Common Equity	429	358	312	247	252	229	170	168	235	204
Total Common Equity	429	358	312	247	252	229	170	168	235	204
Common Stock	720	732	770	770	791	875	931	951	1,080	1,093
Retained Earnings	-292	-374	-458	-523	-539	-645	-761	-784	-845	-889
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-0.02	-0.01	-0.05	0.02	-0.04	-0.18	-0.39
Noncontrolling Interest	-	-	-	-	-	2.83	2.75	2.65	2.64	2.90

This table displays calculated financial ratios and metrics derived from Enovix's official financial filings.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	1/2/2022	1/1/2023	12/31/2023	12/29/2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	23.25%	201.86%
EBITDA Growth	0.00%	-218.78%	60.65%	-289.46%	3.08%
EBIT Growth	0.00%	-217.94%	54.78%	-294.67%	-2.27%
NOPAT Growth	0.00%	-195.46%	-89.84%	-74.46%	-5.39%
Net Income Growth	0.00%	-217.46%	58.99%	-314.81%	-3.92%
EPS Growth	0.00%	-118.37%	23.36%	-68.29%	7.97%
Operating Cash Flow Growth	0.00%	-155.89%	-61.27%	-26.46%	-3.82%
Free Cash Flow Firm Growth	0.00%	0.00%	-1,152.90%	-38.77%	23.56%
Invested Capital Growth	0.00%	-936.65%	156.74%	285.11%	20.50%
Revenue Q/Q Growth	0.00%	0.00%	21.39%	463.72%	11.26%
EBITDA Q/Q Growth	0.00%	0.00%	60.00%	-17.78%	4.91%
EBIT Q/Q Growth	0.00%	0.00%	55.39%	-28.05%	10.18%
NOPAT Q/Q Growth	0.00%	0.00%	-18.27%	-9.32%	11.09%
Net Income Q/Q Growth	0.00%	0.00%	58.71%	-29.56%	9.21%
EPS Q/Q Growth	0.00%	0.00%	44.59%	-23.21%	13.01%
Operating Cash Flow Q/Q Growth	0.00%	-31.44%	-6.49%	-5.43%	9.40%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-37.84%	32.86%
Invested Capital Q/Q Growth	0.00%	0.00%	261.97%	168.18%	4.13%
Profitability Metrics	-	-	-	-	-
Gross Margin	0.00%	0.00%	-274.70%	-724.97%	-8.86%
EBITDA Margin	0.00%	0.00%	-788.15%	-2,490.45%	-799.64%
Operating Margin	0.00%	0.00%	-2,128.01%	-3,012.23%	-1,051.70%
EBIT Margin	0.00%	0.00%	-916.69%	-2,935.36%	-994.50%
Profit (Net Income) Margin	0.00%	0.00%	-832.34%	-2,801.31%	-964.44%
Tax Burden Percent	100.00%	100.00%	100.00%	99.71%	99.38%
Interest Burden Percent	100.27%	100.12%	90.80%	95.72%	97.58%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-197.91%	-119.16%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-174.62%	-72.43%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	128.56%	31.98%
Return on Equity (ROE)	-109.48%	-69.48%	-15.13%	-69.35%	-87.18%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-551.40%	-315.45%	-137.75%
Operating Return on Assets (OROA)	0.00%	0.00%	-12.32%	-44.66%	-42.05%
Return on Assets (ROA)	0.00%	0.00%	-11.18%	-42.62%	-40.78%
Return on Common Equity (ROCE)	-109.48%	-69.48%	-15.13%	-69.02%	-86.22%
Return on Equity Simple (ROE_SIMPLE)	-109.48%	-38.60%	-14.48%	-82.95%	-90.19%
Net Operating Profit after Tax (NOPAT)	-16	-49	-92	-161	-170
NOPAT Margin	0.00%	0.00%	-1,489.61%	-2,108.56%	-736.19%
Net Nonoperating Expense Percent (NNEP)	-79.54%	-37.26%	11.51%	-23.29%	-46.73%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-25.92%	-36.96%	-39.63%
Cost of Revenue to Revenue	0.00%	0.00%	374.70%	824.97%	108.86%
SG&A Expenses to Revenue	0.00%	0.00%	837.96%	1,033.67%	322.06%
R&D to Revenue	0.00%	0.00%	936.00%	1,156.36%	539.59%
Operating Expenses to Revenue	0.00%	0.00%	1,853.31%	2,287.26%	1,042.84%
Earnings before Interest and Taxes (EBIT)	-40	-126	-57	-224	-229
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-39	-124	-49	-190	-185
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	5.52	12.15	5.48	8.14	8.14
Price to Tangible Book Value (P/TBV)	5.52	12.15	5.48	10.30	10.13
Price to Revenue (P/Rev)	0.00	0.00	315.12	274.79	87.01
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	24.16	0.00	48.59	15.25	12.30
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	263.06	257.94	83.07
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	203.43	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.67	0.72
Long-Term Debt to Equity	0.00	0.00	0.00	0.65	0.68
Financial Leverage	-0.80	-1.14	-1.04	-0.74	-0.44
Leverage Ratio	1.79	1.51	1.35	1.63	2.14
Compound Leverage Factor	1.80	1.51	1.23	1.56	2.09
Debt to Total Capital	0.00%	0.00%	0.00%	40.13%	41.82%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	1.36%	2.20%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	38.77%	39.62%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.68%	0.62%
Common Equity to Total Capital	100.00%	100.00%	100.00%	59.19%	57.56%
Debt to EBITDA	0.00	0.00	0.00	-0.92	-0.97
Net Debt to EBITDA	0.00	0.00	0.00	0.69	0.51
Long-Term Debt to EBITDA	0.00	0.00	0.00	-0.89	-0.92
Debt to NOPAT	0.00	0.00	0.00	-1.09	-1.06
Net Debt to NOPAT	0.00	0.00	0.00	0.82	0.55
Long-Term Debt to NOPAT	0.00	0.00	0.00	-1.05	-1.00
Altman Z-Score	-1.89	14.31	13.13	1.93	1.31
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.48%	1.10%
Liquidity Ratios	-	-	-	-	-
Current Ratio	3.04	19.29	14.31	5.30	5.49
Quick Ratio	2.68	18.67	14.03	5.07	5.17
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	18	-185	-257	-196
Operating Cash Flow to CapEx	-74.39%	-117.72%	-228.49%	-169.33%	-142.59%
Free Cash Flow to Firm to Interest Expense	0.00	94.03	0.00	-57.65	-28.93
Operating Cash Flow to Interest Expense	-187.38	-274.36	0.00	-23.48	-16.01
Operating Cash Flow Less CapEx to Interest Expense	-439.28	-507.43	0.00	-37.35	-27.23
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.00	0.01	0.02	0.04
Accounts Receivable Turnover	0.00	0.00	0.00	14.17	8.43
Inventory Turnover	0.00	0.00	0.00	13.46	3.06
Fixed Asset Turnover	0.00	0.00	0.07	0.06	0.14
Accounts Payable Turnover	1.62	0.75	4.55	4.45	1.63
Days Sales Outstanding (DSO)	0.00	0.00	0.00	25.76	43.30
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	27.12	119.16
Days Payable Outstanding (DPO)	225.27	484.97	80.27	81.98	223.36
Cash Conversion Cycle (CCC)	0.00	0.00	-80.27	-29.10	-60.90
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	7.07	-59	34	129	156
Invested Capital Turnover	0.00	0.00	-0.48	0.09	0.16
Increase / (Decrease) in Invested Capital	0.00	-66	93	96	27
Enterprise Value (EV)	171	3,577	1,632	1,972	1,917
Market Capitalization	200	3,962	1,954	2,101	2,008
Book Value per Share	$0.45	$2.25	$2.27	$1.54	$1.39
Tangible Book Value per Share	$0.45	$2.25	$2.27	$1.22	$1.11
Total Capital	36	326	356	436	429
Total Debt	0.00	0.00	0.00	175	179
Total Long-Term Debt	0.00	0.00	0.00	169	170
Net Debt	-29	-385	-323	-132	-94
Capital Expenditures (CapEx)	27	44	36	62	76
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-6.97	-7.81	-16	-39	-22
Debt-free Net Working Capital (DFNWC)	22	377	307	268	251
Net Working Capital (NWC)	22	377	307	262	241
Net Nonoperating Expense (NNE)	23	77	-41	53	53
Net Nonoperating Obligations (NNO)	-29	-385	-323	-132	-94
Total Depreciation and Amortization (D&A)	0.58	1.52	7.97	34	45
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	-261.72%	-506.79%	-95.83%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	4,943.87%	3,507.01%	1,086.75%
Net Working Capital to Revenue	0.00%	0.00%	4,943.87%	3,429.60%	1,045.79%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($1.07)	($0.34)	($1.35)	($1.27)
Adjusted Weighted Average Basic Shares Outstanding	0.00	156.48M	152.92M	159.07M	175.04M
Adjusted Diluted Earnings per Share	$0.00	($1.07)	($0.82)	($1.38)	($1.27)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	156.48M	154.15M	159.58M	175.04M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.07)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	117.22M	157.78M	168.50M	191.27M
Normalized Net Operating Profit after Tax (NOPAT)	-16	-49	-89	-156	-141
Normalized NOPAT Margin	0.00%	0.00%	-1,434.06%	-2,040.50%	-609.36%
Pre Tax Income Margin	0.00%	0.00%	-832.34%	-2,809.59%	-970.47%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-369.56	-672.32	0.00	-50.35	-33.81
NOPAT to Interest Expense	-153.93	-260.24	0.00	-36.17	-25.03
EBIT Less CapEx to Interest Expense	-621.46	-905.39	0.00	-64.22	-45.04
NOPAT Less CapEx to Interest Expense	-405.83	-493.31	0.00	-50.04	-36.25
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	-24.95%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-24.98%	-0.02%	-0.01%	0.00%

This table displays calculated financial ratios and metrics derived from Enovix's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	1/1/2023	4/2/2023	7/2/2023	10/1/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	-99.18%	2,400.00%	575.30%	25,004.76%	8,871.43%	2,058.50%	31.65%	-3.30%	98.20%
EBITDA Growth	87.55%	-268.03%	-15,114.56%	80.12%	-275.50%	67.47%	-85.41%	6.04%	24.35%	32.29%	68.15%
EBIT Growth	83.44%	-278.22%	-3,652.04%	77.37%	-350.80%	36.18%	-84.58%	-13.88%	41.16%	49.72%	62.47%
NOPAT Growth	-82.35%	-76.29%	-84.96%	-49.60%	-43.46%	-10.89%	-71.18%	2.22%	46.72%	39.32%	50.72%
Net Income Growth	86.78%	-272.34%	-5,565.73%	80.27%	-436.96%	36.83%	-80.31%	-39.87%	37.62%	49.39%	61.82%
EPS Growth	108.20%	-193.75%	-127.78%	45.28%	-520.00%	40.43%	-63.41%	-3.45%	90.48%	57.14%	65.08%
Operating Cash Flow Growth	-30.04%	-30.08%	-14.27%	-37.09%	-24.69%	-36.83%	-14.42%	-8.63%	41.39%	51.75%	4.04%
Free Cash Flow Firm Growth	0.00%	-143.90%	109.49%	-54.95%	-13.44%	-256.14%	-5,664.75%	-83.13%	64.09%	70.38%	30.53%
Invested Capital Growth	156.74%	42.59%	-88.99%	419.79%	285.11%	697.79%	2,018.12%	210.33%	20.50%	15.50%	78.41%
Revenue Q/Q Growth	13,562.50%	-98.08%	100.00%	376.19%	3,590.50%	-28.57%	-28.53%	14.57%	125.09%	-47.54%	46.49%
EBITDA Q/Q Growth	87.09%	-594.90%	13.50%	74.39%	-143.93%	39.80%	-392.98%	87.02%	-96.38%	46.11%	-131.91%
EBIT Q/Q Growth	83.27%	-442.85%	12.99%	71.36%	-233.28%	23.14%	-151.63%	82.33%	-72.19%	34.32%	-87.82%
NOPAT Q/Q Growth	-34.07%	-40.08%	18.03%	2.82%	-28.57%	-8.27%	-26.54%	44.49%	29.94%	-23.31%	-2.76%
Net Income Q/Q Growth	86.37%	-558.29%	12.63%	74.83%	-270.95%	22.55%	-149.36%	80.48%	-65.44%	37.17%	-88.12%
EPS Q/Q Growth	109.43%	-1,040.00%	12.77%	29.27%	27.59%	-33.33%	-139.29%	55.22%	93.33%	-500.00%	-83.33%
Operating Cash Flow Q/Q Growth	-5.98%	-17.28%	8.04%	-19.93%	3.60%	-28.71%	23.10%	-13.85%	47.99%	-5.95%	-52.95%
Free Cash Flow Firm Q/Q Growth	-159.67%	59.99%	105.77%	-2,682.50%	-90.10%	-25.62%	9.77%	15.01%	62.72%	-3.62%	-111.59%
Invested Capital Q/Q Growth	261.97%	-45.32%	-73.61%	895.17%	168.18%	13.28%	-29.94%	45.80%	4.13%	8.58%	8.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-847.48%	-58,223.81%	-33,792.86%	-8,304.50%	-167.84%	-34.14%	-17.38%	-14.87%	10.83%	5.12%	26.00%
EBITDA Margin	-954.16%	-345,100.00%	-149,247.62%	-8,027.00%	-530.57%	-447.19%	-3,084.53%	-349.43%	-304.87%	-313.12%	-495.72%
Operating Margin	-4,131.20%	-301,190.48%	-123,440.48%	-25,191.50%	-877.62%	-1,330.35%	-2,355.36%	-1,141.23%	-355.21%	-834.84%	-585.61%
EBIT Margin	-1,282.07%	-362,233.33%	-157,585.71%	-9,477.00%	-855.85%	-920.90%	-3,242.25%	-500.00%	-382.50%	-478.83%	-613.94%
Profit (Net Income) Margin	-1,022.96%	-350,490.48%	-153,109.52%	-8,092.50%	-813.41%	-881.96%	-3,077.15%	-524.39%	-385.43%	-461.57%	-592.74%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	98.96%	99.67%	96.20%	110.73%	103.17%	99.32%	98.09%
Interest Burden Percent	79.79%	96.76%	97.16%	85.39%	96.04%	96.08%	98.66%	94.71%	97.66%	97.06%	98.43%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-84,006.65%	-4,117.46%	-831.83%	-57.66%	-145.70%	-509.99%	-167.47%	-40.25%	-84.79%	-76.33%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-83,998.29%	-4,108.53%	-838.73%	-51.20%	-147.07%	-475.59%	-178.01%	-28.45%	-92.91%	-47.28%
Return on Net Nonoperating Assets (RNNOA)	0.00%	80,419.60%	3,811.61%	759.78%	37.69%	102.53%	354.00%	94.70%	12.56%	30.50%	11.71%
Return on Equity (ROE)	-15.13%	-3,587.05%	-305.85%	-72.05%	-19.97%	-43.18%	-156.00%	-72.78%	-27.68%	-54.30%	-64.62%
Cash Return on Invested Capital (CROIC)	-551.40%	-797.57%	-395.39%	-648.38%	-315.45%	-356.86%	-538.97%	-295.65%	-137.75%	-109.78%	-139.66%
Operating Return on Assets (OROA)	-17.23%	-4,916.98%	-357.49%	-26.03%	-13.02%	-25.83%	-104.85%	-21.42%	-16.17%	-21.76%	-34.09%
Return on Assets (ROA)	-13.75%	-4,757.58%	-347.34%	-22.22%	-12.37%	-24.74%	-99.51%	-22.47%	-16.30%	-20.97%	-32.91%
Return on Common Equity (ROCE)	-15.13%	-3,587.05%	-305.85%	-72.05%	-19.87%	-42.95%	-154.97%	-72.32%	-27.38%	-53.66%	-63.66%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-53.81%	-93.46%	-65.46%	0.00%	-81.57%	-140.14%	-146.26%	0.00%	-84.87%	0.00%
Net Operating Profit after Tax (NOPAT)	-32	-44	-36	-35	-45	-49	-62	-34	-24	-30	-31
NOPAT Margin	-2,891.84%	-210,833.33%	-86,408.33%	-17,634.05%	-614.33%	-931.24%	-1,648.75%	-798.86%	-248.65%	-584.39%	-409.92%
Net Nonoperating Expense Percent (NNEP)	5.77%	-8.36%	-8.93%	6.90%	-6.46%	1.37%	-34.40%	10.54%	-11.79%	8.12%	-29.05%
Return On Investment Capital (ROIC_SIMPLE)	-8.87%	-	-	-	-10.40%	-12.01%	-	-	-5.64%	-7.14%	-7.92%
Cost of Revenue to Revenue	947.48%	58,323.81%	33,892.86%	8,404.50%	267.84%	134.14%	117.38%	114.87%	89.17%	94.88%	74.00%
SG&A Expenses to Revenue	1,411.25%	129,876.19%	39,733.33%	8,622.50%	241.25%	370.79%	554.25%	480.52%	135.18%	331.35%	234.69%
R&D to Revenue	1,422.23%	113,090.48%	39,411.90%	6,754.00%	468.53%	925.42%	771.36%	561.04%	230.86%	508.61%	376.91%
Operating Expenses to Revenue	3,283.71%	242,966.67%	89,647.62%	16,887.00%	709.78%	1,296.21%	2,337.98%	1,126.36%	366.04%	839.96%	611.61%
Earnings before Interest and Taxes (EBIT)	-14	-76	-66	-19	-63	-49	-122	-22	-37	-24	-46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-10	-72	-63	-16	-39	-24	-116	-15	-30	-16	-37
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.48	7.54	11.54	7.96	8.14	5.89	15.43	10.04	8.14	6.08	9.32
Price to Tangible Book Value (P/TBV)	5.48	7.54	11.54	7.96	10.30	7.62	22.03	14.28	10.13	7.62	12.06
Price to Revenue (P/Rev)	315.12	378.03	2,451.21	1,482.00	274.79	104.67	158.13	81.14	87.01	62.48	71.39
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	48.59	112.13	538.86	37.44	15.25	8.65	24.95	11.13	12.30	8.07	10.26
Enterprise Value to Revenue (EV/Rev)	263.06	330.83	2,242.93	1,331.37	257.94	98.25	154.05	80.27	83.07	59.60	70.61
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.67	0.66	0.67	0.76	1.04	1.06	0.72	0.76	0.87
Long-Term Debt to Equity	0.00	0.00	0.67	0.66	0.65	0.73	0.97	0.99	0.68	0.71	0.82
Financial Leverage	-1.04	-0.96	-0.93	-0.91	-0.74	-0.70	-0.74	-0.53	-0.44	-0.33	-0.25
Leverage Ratio	1.35	1.25	1.52	1.62	1.63	1.69	2.45	2.29	2.14	2.15	2.52
Compound Leverage Factor	1.08	1.21	1.47	1.38	1.56	1.62	2.41	2.17	2.09	2.08	2.48
Debt to Total Capital	0.00%	0.00%	40.28%	39.82%	40.13%	43.23%	50.91%	51.43%	41.82%	43.02%	46.53%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	1.36%	2.08%	3.12%	3.30%	2.20%	2.48%	2.69%
Long-Term Debt to Total Capital	0.00%	0.00%	40.28%	39.82%	38.77%	41.16%	47.79%	48.14%	39.62%	40.54%	43.84%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.68%	0.69%	0.78%	0.76%	0.62%	0.63%	0.75%
Common Equity to Total Capital	100.00%	100.00%	59.72%	60.18%	59.19%	56.08%	48.31%	47.81%	57.56%	56.34%	52.72%
Debt to EBITDA	0.00	0.00	-0.74	-1.03	-0.92	-1.25	-0.92	-0.93	-0.97	-1.02	-1.84
Net Debt to EBITDA	0.00	0.00	1.07	1.26	0.69	0.61	0.36	0.11	0.51	0.39	0.24
Long-Term Debt to EBITDA	0.00	0.00	-0.74	-1.03	-0.89	-1.19	-0.86	-0.87	-0.92	-0.96	-1.73
Debt to NOPAT	0.00	0.00	-1.23	-1.13	-1.09	-1.06	-0.94	-0.94	-1.06	-1.19	-1.51
Net Debt to NOPAT	0.00	0.00	1.79	1.39	0.82	0.52	0.37	0.11	0.55	0.46	0.20
Long-Term Debt to NOPAT	0.00	0.00	-1.23	-1.13	-1.05	-1.01	-0.88	-0.88	-1.00	-1.12	-1.42
Altman Z-Score	13.46	12.98	4.95	3.70	2.87	1.38	2.52	1.51	2.52	1.31	1.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.48%	0.52%	0.65%	0.63%	1.10%	1.16%	1.49%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	14.31	12.00	11.07	8.52	5.30	4.89	3.98	3.77	5.49	4.68	4.37
Quick Ratio	14.03	11.70	10.95	8.42	5.07	4.65	3.71	3.41	5.17	4.37	3.99
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-124	-50	2.87	-74	-141	-177	-160	-136	-51	-52	-111
Operating Cash Flow to CapEx	-450.62%	-844.69%	-185.57%	-163.69%	-94.49%	-232.26%	-106.90%	-157.08%	-97.55%	-269.56%	-324.41%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	2.26	-47.66	-86.60	-106.82	-94.56	-79.10	-29.47	-30.59	-65.15
Operating Cash Flow to Interest Expense	0.00	0.00	-18.54	-18.14	-16.71	-21.12	-15.94	-17.86	-9.28	-9.85	-15.17
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-28.54	-29.22	-34.40	-30.22	-30.84	-29.23	-18.80	-13.51	-19.84
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.01	0.01	0.00	0.00	0.02	0.03	0.03	0.04	0.04	0.05	0.06
Accounts Receivable Turnover	0.00	0.00	16.17	387.43	14.17	14.75	19.47	21.69	8.43	9.90	9.00
Inventory Turnover	0.00	0.00	59.34	160.86	13.46	15.75	9.33	7.41	3.06	2.69	2.10
Fixed Asset Turnover	0.07	0.07	0.01	0.01	0.06	0.10	0.12	0.14	0.14	0.14	0.16
Accounts Payable Turnover	4.55	11.13	4.46	4.28	4.45	4.82	2.93	2.17	1.63	1.15	1.44
Days Sales Outstanding (DSO)	0.00	0.00	22.58	0.94	25.76	24.75	18.74	16.83	43.30	36.86	40.54
Days Inventory Outstanding (DIO)	0.00	0.00	6.15	2.27	27.12	23.18	39.12	49.27	119.16	135.73	174.18
Days Payable Outstanding (DPO)	80.27	32.80	81.76	85.34	81.98	75.76	124.41	167.86	223.36	318.10	253.64
Cash Conversion Cycle (CCC)	-80.27	-32.80	-53.03	-82.13	-29.10	-27.83	-66.55	-101.77	-60.90	-145.51	-38.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	34	18	4.85	48	129	146	103	150	156	169	183
Invested Capital Turnover	-0.48	0.40	0.05	0.05	0.09	0.16	0.31	0.21	0.16	0.15	0.19
Increase / (Decrease) in Invested Capital	93	5.48	-39	39	96	128	98	101	27	23	80
Enterprise Value (EV)	1,632	2,059	2,611	1,805	1,972	1,267	2,561	1,665	1,917	1,365	1,878
Market Capitalization	1,954	2,353	2,853	2,010	2,101	1,350	2,628	1,683	2,008	1,431	1,899
Book Value per Share	$2.27	$1.98	$1.56	$1.58	$1.54	$1.36	$1.00	$0.95	$1.39	$1.23	$1.06
Tangible Book Value per Share	$2.27	$1.98	$1.56	$1.58	$1.22	$1.05	$0.70	$0.67	$1.11	$0.98	$0.82
Total Capital	356	312	414	420	436	409	353	351	429	417	387
Total Debt	0.00	0.00	167	167	175	177	179	180	179	180	180
Total Long-Term Debt	0.00	0.00	167	167	169	168	169	169	170	169	169
Net Debt	-323	-294	-242	-204	-132	-86	-70	-21	-94	-69	-24
Capital Expenditures (CapEx)	4.85	3.03	13	17	29	15	25	20	16	6.27	7.97
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-16	-18	-33	-40	-39	-33	-37	-25	-22	-25	-17
Debt-free Net Working Capital (DFNWC)	307	276	376	332	268	230	213	176	251	223	186
Net Working Capital (NWC)	307	276	376	332	262	221	202	165	241	212	176
Net Nonoperating Expense (NNE)	-20	29	28	-19	15	-2.60	54	-12	13	-6.26	14
Net Nonoperating Obligations (NNO)	-323	-294	-242	-204	-132	-86	-70	-21	-94	-69	-24
Total Depreciation and Amortization (D&A)	3.58	3.60	3.50	2.90	24	25	5.94	6.50	7.54	8.45	8.83
Debt-free, Cash-free Net Working Capital to Revenue	-261.72%	-282.97%	-2,818.99%	-2,929.79%	-506.79%	-254.21%	-221.97%	-119.74%	-95.83%	-110.94%	-63.68%
Debt-free Net Working Capital to Revenue	4,943.87%	4,437.44%	32,339.43%	24,455.09%	3,507.01%	1,780.63%	1,281.72%	849.07%	1,086.75%	972.71%	701.02%
Net Working Capital to Revenue	4,943.87%	4,437.44%	32,339.43%	24,455.09%	3,429.60%	1,714.80%	1,215.61%	793.35%	1,045.79%	927.44%	661.90%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.08)	($0.47)	($0.41)	($0.10)	($0.37)	($0.28)	($0.67)	($0.13)	($0.19)	($0.12)	($0.22)
Adjusted Weighted Average Basic Shares Outstanding	152.92M	155.63M	157.15M	159.83M	159.07M	168.14M	172.40M	176.68M	175.04M	191.30M	204.82M
Adjusted Diluted Earnings per Share	$0.05	($0.47)	($0.41)	($0.29)	($0.21)	($0.28)	($0.67)	($0.30)	($0.02)	($0.12)	($0.22)
Adjusted Weighted Average Diluted Shares Outstanding	154.15M	155.63M	157.15M	161.37M	159.58M	168.14M	172.40M	176.87M	175.04M	191.30M	204.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	157.78M	316.32M	320.25M	167.77M	168.50M	170.00M	176.28M	177.98M	191.27M	192.00M	196.60M
Normalized Net Operating Profit after Tax (NOPAT)	-32	-44	-33	-33	-45	-49	-35	-32	-24	-30	-31
Normalized NOPAT Margin	-2,891.84%	-210,833.33%	-79,056.67%	-16,576.70%	-614.33%	-931.24%	-940.10%	-739.50%	-248.65%	-584.39%	-409.92%
Pre Tax Income Margin	-1,022.96%	-350,490.48%	-153,109.52%	-8,092.50%	-821.99%	-884.84%	-3,198.86%	-473.57%	-373.57%	-464.75%	-604.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-52.12	-12.17	-38.78	-29.26	-72.25	-12.56	-21.62	-14.23	-26.89
NOPAT to Interest Expense	0.00	0.00	-28.58	-22.65	-27.84	-29.59	-36.74	-20.07	-14.06	-17.36	-17.95
EBIT Less CapEx to Interest Expense	0.00	0.00	-62.11	-23.26	-56.47	-38.36	-87.15	-23.93	-31.14	-17.88	-31.57
NOPAT Less CapEx to Interest Expense	0.00	0.00	-38.57	-33.73	-45.52	-38.69	-51.65	-31.44	-23.57	-21.02	-22.63
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.02%	-0.01%	-0.01%	-0.01%	-0.01%	0.00%	-0.01%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Enovix Corp (NASDAQ:ENVX) has demonstrated significant financial developments over the last four years through their quarterly financial statements. Below is a summary highlighting the key trends from Q2 2022 through Q2 2025.

Revenue Growth: Operating revenue increased from $5.1 million in Q2 2022 to $7.5 million in Q2 2025, showing gradual but steady growth in top-line sales.
R&D Investment Increase: Research & Development expenses have been consistently high and growing, from approximately $15.8 million in Q2 2022 to $28.1 million in Q2 2025, indicating continued investment in product innovation.
Cash & Equivalents Management: Cash and equivalents remain strong at $136 million in Q2 2025 despite a decline from previous quarters, reflecting adequate liquidity to support operations and growth initiatives.
Issuance of Debt and Equity Financing: The company raised substantial financing in certain quarters (e.g., $172.5 million debt issuance in Q2 2023 and equity issuances in Q4 2024) supporting its capital-intensive business model.
Gross Margin Still Negative: The company has been generating negative gross profit in several quarters, with operating costs exceeding revenue, a common stage for growth-oriented tech firms.
Consistent Operating Losses: Total operating expenses significantly surpass revenues; e.g., operating loss was $43.7 million in Q2 2025, largely driven by high SG&A and R&D costs, reflecting an investment phase rather than profitability.
Net Losses YTD: Continued net losses from operations — Q2 2025 shows a net loss of $44.3 million, consistently sizable but improving compared to -$115.9 million in Q2 2024, suggesting a narrowing loss trend.
High Operating Cash Outflows: Net cash used in operating activities remained substantial, e.g., -$25.9 million in Q2 2025, indicating negative cash flow from core operations and a reliance on external funding.
Increasing Long-Term Debt: Long-term debt stands large, at $169.4 million in Q2 2025, compared to $91.7 million or less in early 2022, signaling increasing financial leverage and interest obligations.
Restructuring and Impairment Charges: The company recorded restructuring charges in some quarters (Q3 2024: $3.7 million) and impairment in early periods, negatively impacting earnings and signaling operational challenges.

Overall Analysis: Enovix is currently in a growth and investment phase, characterized by increasing revenues but ongoing substantial net losses primarily caused by significant R&D and SG&A spending. The company maintains solid liquidity, supported by periodic equity and debt financing, but operating cash flows remain negative. The increasing debt level introduces leverage risk, and consistent operating losses suggest profitability remains a longer-term goal. Retail investors should weigh these factors, focusing on Enovix’s innovation potential and improving revenue trends against continued losses and cash burn.

10/23/25 03:43 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Enovix's Financials

When does Enovix's financial year end?

According to the most recent income statement we have on file, Enovix's fiscal year ends in December. Their fiscal year 2024 ended on December 29, 2024.

How has Enovix's net income changed over the last 4 years?

Enovix's net income appears to be on an upward trend, with a most recent value of -$222.53 million in 2024, rising from -$39.65 million in 2020. The previous period was -$214.13 million in 2023. Find out what analysts predict for Enovix in the coming months.

What is Enovix's operating income?

Enovix's total operating income in 2024 was -$242.67 million, based on the following breakdown:

Total Gross Profit: -$2.05 million
Total Operating Expenses: $240.62 million

How has Enovix's revenue changed over the last 4 years?

Over the last 4 years, Enovix's total revenue changed from $0.00 in 2020 to $23.07 million in 2024, a change of 2,307,400,000.0%.

How much debt does Enovix have?

Enovix's total liabilities were at $277.77 million at the end of 2024, a 8.4% decrease from 2023, and a 866.2% increase since 2020.

How much cash does Enovix have?

In the past 4 years, Enovix's cash and equivalents has ranged from $29.14 million in 2020 to $385.29 million in 2021, and is currently $272.87 million as of their latest financial filing in 2024.

How has Enovix's book value per share changed over the last 4 years?

Over the last 4 years, Enovix's book value per share changed from 0.45 in 2020 to 1.39 in 2024, a change of 207.7%.

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This page (NASDAQ:ENVX) was last updated on 10/23/2025 by MarketBeat.com Staff

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Enovix (ENVX) Financials

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Enovix (ENVX) Financials

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