Enovix Corporation

ENVX

Electrical Equipment & Parts · Industrials

Price

$4.72

+0.02 (+0.43%)

Market Cap

$1.03B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+77.1% over 3y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 117.2M (2022) → 207.6M (2025)

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+49.1% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-50.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$110M/ year

↓ Declining (-11% vs prior year)

346.7% of revenue

86.7x the sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

13.4%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~7 months

$88.8B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Strong grower

Enovix Corporation is growing revenue at 49% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

-102.9%

Thin — -102.9% gross margin

Operating Margin

-577.6%

Losing money on operations — -577.6%

ROCE

-0.0%

Weak — -0.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+49.9%

Fast-growing sales (49.9% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-105999.9%

Burning cash (-105999.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.08

Conservative — low debt load (0.08)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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