NASDAQ · ENVX

Enovix Corporation

Industrials · Electrical Equipment & Parts

$3.06▲ 2.52% ($0.08)at close

After hours$3.04▼ 0.44%7:53 PM ET

52-week

$2.85$14.21

Market cap

$666.46M

P/E

-3.82

EPS (TTM)

-$0.78

Next earnings

Nov 4, 2026

What the market price implies · Reverse DCF

To support a price of $3.06, this model requires revenue to grow by 43.71%/yr over the next 10 years, compounded annually.

Historical revenue grew by 72.48%/yr over the past 3 years. The required annual growth rate is 28.77 percentage points lower.

Selected forecast · Base scenario

19.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 40%

Market-implied · Base operating assumptions + edited margins

43.71%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$3.06

Estimated value / share

$0.16

Base scenario

This estimate is 94.63% below the price used.

USD · TTM ending 2026-07-05

Only 4 of the five annual revenue periods are available; growth uses the observed fiscal-year spans. Latest quarterly growth differs materially from the latest annual pace. It remains an observed growth input; review whether acceleration or a change in the business explains it.

Year 1 growth 40% · Ending margin 0% · Discount rate 11.91%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 22, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-07-05
Data refreshed: Sep 23, 2026, 5:13 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Likely multiple compressionModerate confidence

1Y Price: -70.68%Revenue (TTM): 34.88%FCF (TTM): 10.99%P/S: 0th pct

What changed

The stock fell 70.68% over the last year. Revenue grew 34.88% over the trailing twelve months. Operating margin moved from -639.38% to -496.54%. Free cash flow grew 10.99% over the trailing twelve months.

What the market seems to be pricing

Visible fundamentals weakened far less than the stock price. The market appears to be discounting durability, risk, or trust rather than just the latest reported numbers.

What would invalidate this read

This read changes if operating margin (currently -496.54%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.

Performance

Return analysis

Company profile

Founded in 2007 and based in Fremont, California, Enovix Corporation specializes in the innovation, development, and production of lithium-ion battery technology.

CEORyan A. Benton

SectorIndustrials

IndustryElectrical Equipment & Parts

Employees664

IPO dateJan 5, 2021

https://www.enovix.com

Market multiples

Forward P/E—

EV/EBITDA-19.65

Enterprise value$2.02B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth20.84%

Gross margin (FY2025)-86.79%▼77.9ppvs FY2024

Operating margin (FY2025)-554.83%▲496.9ppvs FY2024

ROE-82.2%▼21.7ppvs FY2025

Analyst consensus

RatingBuy

Target price$10.75▲251.88%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 4, 2026

Q4 FY26 · EPS est -$0.15 · Revenue est $9.49M

View

NASDAQ · ENVX

Enovix Corporation

Industrials · Electrical Equipment & Parts

$3.06▲ 2.52% ($0.08)at close

After hours$3.04▼ 0.44%7:53 PM ET

52-week

$2.85$14.21

Market cap

$666.46M

P/E

-3.82

EPS (TTM)

-$0.78

Next earnings

Nov 4, 2026

What the market price implies · Reverse DCF

To support a price of $3.06, this model requires revenue to grow by 43.71%/yr over the next 10 years, compounded annually.

Historical revenue grew by 72.48%/yr over the past 3 years. The required annual growth rate is 28.77 percentage points lower.

Selected forecast · Base scenario

19.61%/yr · actual 10-year annualized revenue growth

Year 1 growth: 40%

Market-implied · Base operating assumptions + edited margins

43.71%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$3.06

Estimated value / share

$0.16

Base scenario

This estimate is 94.63% below the price used.

USD · TTM ending 2026-07-05

Year 1 growth 40% · Ending margin 0% · Discount rate 11.91%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 22, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-07-05
Data refreshed: Sep 23, 2026, 5:13 AM UTC · provider

Why this method?

There is not a stable run of positive FCFF to anchor a direct cash-flow CAGR, so the model should start from revenue and margin assumptions instead.

Is FCFF positive and has it been for 3+ consecutive years? Latest FCFF is not positive.

Price vs Fundamentals

Why The Stock Is Moving

Likely multiple compressionModerate confidence

1Y Price: -70.68%Revenue (TTM): 34.88%FCF (TTM): 10.99%P/S: 0th pct

What changed

What the market seems to be pricing

Visible fundamentals weakened far less than the stock price. The market appears to be discounting durability, risk, or trust rather than just the latest reported numbers.

What would invalidate this read

This read changes if operating margin (currently -496.54%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.

Performance

Return analysis

Company profile

Founded in 2007 and based in Fremont, California, Enovix Corporation specializes in the innovation, development, and production of lithium-ion battery technology.

CEORyan A. Benton

SectorIndustrials

IndustryElectrical Equipment & Parts

Employees664

IPO dateJan 5, 2021

https://www.enovix.com

Market multiples

Forward P/E—

EV/EBITDA-19.65

Enterprise value$2.02B

Stock splits

No stock splits recorded for this ticker.

Profitability & growth

Revenue growth20.84%

Gross margin (FY2025)-86.79%▼77.9ppvs FY2024

Operating margin (FY2025)-554.83%▲496.9ppvs FY2024

ROE-82.2%▼21.7ppvs FY2025

Analyst consensus

RatingBuy

Target price$10.75▲251.88%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 4, 2026

Q4 FY26 · EPS est -$0.15 · Revenue est $9.49M

View