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Enovix Corp key statistics and ratios

In fiscal 2025, Enovix Corp had return on equity of -60.5% and a net margin of -492.6%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2020Dec 20202021Jan 20222022Jan 20232023Dec 20232024Dec 20242025Dec 2025LTMJul 2026
Net margin——−832.3%<−999%−963.2%−492.6%−473.9%
Return on equity−109.5%−69.5%−15.1%−69.7%−88.0%−60.5%−70.7%
Return on assets−61.0%−46.0%−11.2%−42.6%−40.7%−22.3%−20.3%
R&D as % of revenue——936.0%>999%539.6%346.7%298.9%
SG&A as % of revenue——838.0%>999%322.1%229.5%216.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 6 checks passed · July 5, 2026
What it owns · $800m
Short-term assets $506mLonger-term assets $294m
What it owes, and who funded it · $798m
Short-term liabilities $52mLonger-term liabilities $536mShareholders' equity $210m
  • Short-term assets cover short-term liabilities $506m of assets due within a year against $52m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $506m short-term assets against $536m of longer-dated liabilities.
  • More cash than debt $34m of cash against $532m of debt.
  • Debt below 40% of shareholders' equity Debt is 253% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$107m of operating cash flow against $532m of debt.
  • Operating profit covers interest at least five times over Operating income of −$178m against $32m of interest.

From Enovix Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

12 /100

Weak moat

How hard Enovix's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -26.1% of total assets over 6 years.

  • Pricing power 0 / 20

    Gross margin has been a median -27.0%, moving by 1437.0 percentage points (standard deviation) across 5 years.

  • Durability 10 / 20

    Operating margin has been a median -1648.8%; its worst year was -16660.5%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 5 years, at a median -1226.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: ENVX vs FLUXENVX vs EPOWBEEM vs ENVX

More: Electrical Components & Equipment stocks compared, Industrials sector, rankings of US companies

Figures from Enovix Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Enovix Corp.