Is the business good?
How good a business is ENVX?
Enovix Corporation earns −58% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−58%
Return on invested capital · cost of capital 9.0% · 67 points below what the capital costs: growth destroys value
- Operating margin
- −520%
Operating margin · Electrical Equipment & Parts median 7.3% · 12 months to Q1 2026
- Share count, year on year
- +6.9%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 323%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2022 | −2128% |
| FY2023 | −3012% |
| FY2024 | −1052% |
| FY2025 | −557% |
Details›
- Gross margin12 months to Q1 2026
- 22%
- Operating margin12 months to Q1 2026
- −520%
- Net margin12 months to Q1 2026
- −500%
- Free cash flow margin
- −369%
- R&D as % of revenue
- 323%
- Revenue, trailing twelve months
- $34M
- Free cash flow, trailing twelve months
- −$127M
- Net income, trailing twelve months
- −$171M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −58%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Electrical Equipment & Parts
Ranks #20 of 20 by Smart Score