Enovix shares fell by -1.4% during the day's morning session, and are now trading at a price of $15.71. Is it time to buy the dip? To better answer that question, it's essential to check if the market is valuing the company's shares fairly in terms of its earnings and equity levels.
Enovix's P/B and P/E Ratios Are Higher Than Average:
Enovix Corporation designs, develops, and manufactures lithium-ion battery cells in the United States and internationally. The company belongs to the Industrials sector, which has an average price to earnings (P/E) ratio of 24.03 and an average price to book (P/B) ratio of 2.89. In contrast, Enovix has a trailing 12 month P/E ratio of -14.1 and a P/B ratio of 12.8.
Enovix has moved -19.8% over the last year compared to 10.6% for the S&P 500 — a difference of -30.4%. Enovix has a 52 week high of $18.68 and a 52 week low of $5.27.
Increasing Revenues but Narrowing Margins:
| 2020 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Revenue (k) | $3,375 | n/a | $6,202 | $23,074 |
| Net Margins | -395.0% | n/a | -832.0% | -963.0% |
| Net Income (k) | -$13,342 | -$125,874 | -$51,622 | -$222,241 |
| Net Interest Expense (k) | -$107 | -$187 | $5,231 | $18,743 |
| Depreciation & Amort. (k) | $600 | $1,515 | $7,972 | $44,961 |
| Diluted Shares (k) | 80,367 | 153,332 | 159,576 | 175,038 |
| Earnings Per Share | -$0.49 | -$1.07 | -$0.82 | -$1.27 |
| EPS Growth | n/a | -118.37% | 23.36% | -54.88% |
| Free Cash Flow (k) | -$12,549 | -$94,890 | -$118,952 | -$184,821 |
| CAPEX (k) | $8,030 | $43,584 | $36,212 | $76,188 |
| Current Ratio | 3.04 | 20.28 | 5.3 | 5.49 |
