ENVX - Enovix Corporation
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$11.67
DETAILS
HIGH:
$21.00
LOW:
$6.00
MEDIAN:
$8.00
CONSENSUS:
$11.67
UPSIDE:
60.74%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Revenue | 31.8 | 23.1 | 7.6 | 6.2 | 0 | 0 | 0 |
| Cost of Revenue | 59.4 | 25.1 | 63.1 | 23.2 | 2.0 | 3.4 | 0.2 |
| Gross Profit | (27.6) | (2.0) | (55.4) | (17.0) | (2.0) | (3.4) | (0.2) |
| Operating Expenses | |||||||
| R&D Expenses | 110.3 | 124.5 | 88.4 | 58.1 | 37.9 | 14.4 | 12.1 |
| SG&A Expenses | 38.6 | 74.3 | 79.0 | 52.0 | 29.7 | 5.7 | 4.2 |
| Other Expenses | 0 | 41.8 | 7.4 | 0 | (0.0) | 0 | 0 |
| Operating Expenses | 148.9 | 240.6 | 174.8 | 110.0 | 67.6 | 20.2 | 16.4 |
| Operating Income | |||||||
| Operating Income | (176.6) | (242.7) | (230.3) | (127.1) | (69.5) | (23.5) | (16.5) |
| Interest Expense | 21.6 | 6.8 | 4.5 | 5.2 | 0.2 | 0.1 | 0 |
| Interest Income | 13.0 | 12.3 | 14.1 | 5.2 | 0 | 0 | 0.0 |
| Profitability | |||||||
| EBITDA | (142.8) | (172.2) | (176.3) | (43.6) | (68.0) | (25.3) | (16.0) |
| EBIT | (176.6) | (217.1) | (210.3) | (51.6) | (69.5) | (23.5) | (16.5) |
| Income Before Tax | (157.9) | (223.9) | (214.8) | (51.6) | (125.9) | (39.6) | (16.2) |
| Income Tax Expense | (1.3) | (1.4) | (0.6) | 0 | 0 | 0 | 0 |
| Net Income | (156.7) | (222.2) | (214.1) | (51.6) | (125.9) | (39.6) | (16.2) |
| Per Share Data | |||||||
| EPS (Basic) | -0.75 | -1.27 | -1.35 | -0.34 | -1.08 | -0.26 | -0.28 |
| EPS (Diluted) | -0.75 | -1.27 | -1.38 | -0.82 | -1.08 | -0.26 | -0.28 |
| Shares Outstanding | 207.6 | 175.0 | 157.6 | 152.9 | 117.2 | 145.2 | 57.7 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Current Assets | |||||||
| Cash & Cash Equivalents | 106.0 | 272.9 | 233.1 | 322.9 | 385.3 | 29.1 | 10.2 |
| Short-Term Investments | 406.0 | 0 | 73.7 | 0 | 0 | 0 | 0 |
| Net Receivables | 8.4 | 4.6 | 2.4 | 0.2 | 0 | 0 | 0 |
| Inventory | 13.6 | 7.7 | 8.7 | 0.6 | 0 | 0 | 0 |
| Other Current Assets | 8.1 | 9.9 | 5.2 | 6.0 | 4.6 | 3.0 | 0.1 |
| Total Current Assets | 542.2 | 295.0 | 323.2 | 329.6 | 398.1 | 33.0 | 10.6 |
| Non-Current Assets | |||||||
| Property, Plant & Equipment | 181.9 | 181.4 | 181.8 | 110.0 | 83.3 | 31.3 | 4.9 |
| Goodwill | 12.2 | 12.2 | 12.1 | 0 | 0 | 0 | 0 |
| Intangible Assets | 31.6 | 36.4 | 42.2 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 106.8 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 4.2 | 2.1 | 5.1 | 0.9 | 1.2 | 0.6 | 1.1 |
| Total Non-Current Assets | 338.1 | 232.2 | 241.1 | 110.9 | 84.4 | 31.9 | 6.0 |
| Total Assets | 880.3 | 527.2 | 564.3 | 440.6 | 482.6 | 65.0 | 16.6 |
| Current Liabilities | |||||||
| Account Payables | 17.8 | 9.5 | 21.3 | 7.1 | 3.1 | 2.1 | 0.3 |
| Short-Term Debt | 9.9 | 9.5 | 5.9 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 5.0 | 3.6 | 6.7 | 0.1 | 5.6 | 5.4 | 0 |
| Other Current Liabilities | 26.1 | 11.3 | 13.2 | 8.8 | 4.8 | 1.4 | 0.1 |
| Total Current Liabilities | 65.0 | 53.7 | 61.0 | 23.0 | 20.6 | 10.9 | 1.0 |
| Non-Current Liabilities | |||||||
| Long-Term Debt | 519.3 | 169.8 | 169.1 | 0 | 0 | 0 | 5.7 |
| Deferred Tax Liabilities | 10.5 | 8.8 | 10.8 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0.0 | 28.4 | 42.9 | 49.2 | 124.5 | 17.8 | 6.2 |
| Total Non-Current Liabilities | 541.3 | 224.1 | 242.2 | 61.1 | 135.8 | 17.9 | 11.9 |
| Total Liabilities | 606.3 | 277.8 | 303.2 | 84.2 | 156.4 | 28.7 | 12.9 |
| Stockholders' Equity | |||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 |
| Retained Earnings | (977.8) | (821.1) | (598.8) | (384.8) | (333.2) | (207.3) | (167.6) |
| Accumulated Other Comprehensive Income | (0.5) | (0.1) | (0.1) | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | 271.2 | 246.7 | 258.1 | 356.4 | 326.1 | 36.2 | 3.7 |
| Total Liabilities & Equity | 880.3 | 527.2 | 564.3 | 440.6 | 482.6 | 65.0 | 16.6 |
| Debt Metrics | |||||||
| Total Debt | 540.4 | 192.6 | 190.6 | 8.2 | 9.1 | 0 | 5.7 |
| Net Debt | 434.4 | (80.3) | (42.5) | (314.6) | (376.2) | (29.1) | (4.6) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Net Income | (156.6) | (222.5) | (214.1) | (51.6) | (125.9) | (39.6) | (16.2) |
| Depreciation & Amortization | 35.1 | 45.0 | 34.0 | 8.0 | 1.5 | 0.6 | 0.5 |
| Stock-Based Compensation | 49.4 | 58.8 | 69.5 | 30.4 | 10.7 | 0.7 | 0.3 |
| Change in Working Capital | (6.5) | (16.4) | 7.1 | 0.8 | 5.7 | 2.2 | (0.9) |
| Other Non-Cash Items | (15.4) | 26.5 | (1.1) | (70.3) | 56.2 | 2.5 | 5.3 |
| Operating Cash Flow | (95.3) | (108.6) | (104.6) | (82.7) | (51.7) | (20.1) | (11.0) |
| Investing Activities | |||||||
| Capital Expenditure | (18.2) | (76.2) | (61.8) | (36.2) | (43.6) | (27.0) | (1.6) |
| Acquisitions | (10) | 0 | (10.0) | 0 | 0 | 0 | 0 |
| Purchases of Investments | (584.9) | (31.8) | (115.7) | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 74.9 | 106.6 | 16.7 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | (1.0) | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (538.3) | (1.4) | (143.0) | (36.2) | (43.6) | (27.0) | (1.6) |
| Financing Activities | |||||||
| Net Debt Issuance | 302.6 | 4.4 | 172.4 | 0 | 0 | 0 | – |
| Stock Repurchased | (58.4) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (6.5) | 39.2 | (27.1) | (0.6) | 374.1 | 65.9 | 0.1 |
| Financing Cash Flow | 467.4 | 150.7 | 159.6 | 56.5 | 451.5 | 65.9 | 5.8 |
| Cash Position | |||||||
| Net Change in Cash | (166.7) | 39.6 | (87.9) | (62.4) | 356.2 | 18.9 | (6.8) |
| Cash at Beginning | 274.7 | 235.1 | 323.0 | 385.4 | 29.2 | 10.3 | 17.1 |
| Cash at End | 108.0 | 274.7 | 235.1 | 323.0 | 385.4 | 29.2 | 10.3 |
| Free Cash Flow | (113.5) | (184.8) | (166.4) | (119.0) | (95.3) | (47.0) | (12.6) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 31.8 | 23.1 | 7.6 | 6.2 | 0 | 0 | 0 |
| Gross Profit | (27.6) | (2.0) | (55.4) | (17.0) | (2.0) | (3.4) | (0.2) |
| Operating Income | (176.6) | (242.7) | (230.3) | (127.1) | (69.5) | (23.5) | (16.5) |
| Net Income | (156.7) | (222.2) | (214.1) | (51.6) | (125.9) | (39.6) | (16.2) |
| EPS (Diluted) | -0.75 | -1.27 | -1.38 | -0.82 | -1.08 | -0.26 | -0.28 |
| Balance Sheet | |||||||
| Cash & Equivalents | 106.0 | 272.9 | 233.1 | 322.9 | 385.3 | 29.1 | 10.2 |
| Total Assets | 880.3 | 527.2 | 564.3 | 440.6 | 482.6 | 65.0 | 16.6 |
| Total Debt | 540.4 | 192.6 | 190.6 | 8.2 | 9.1 | 0 | 5.7 |
| Stockholders' Equity | 271.2 | 246.7 | 258.1 | 356.4 | 326.1 | 36.2 | 3.7 |
| Cash Flow | |||||||
| Operating Cash Flow | (95.3) | (108.6) | (104.6) | (82.7) | (51.7) | (20.1) | (11.0) |
| Capital Expenditure | (18.2) | (76.2) | (61.8) | (36.2) | (43.6) | (27.0) | (1.6) |
| Free Cash Flow | (113.5) | (184.8) | (166.4) | (119.0) | (95.3) | (47.0) | (12.6) |