Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Enovix Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
0
6.2
7.64
23.1
31.8
Cost of revenue
3.38
1.97
23.2
63.1
25.1
25.7
Gross profit
-3.38
-1.97
-17
-55.4
-2.05
6.11
Research and development
14.4
37.9
58.1
88.4
125
110
Selling, general and administrative
5.71
29.7
52
79
74.3
73
Operating expenses
20.2
67.6
115
175
241
183
Operating income
-23.5
-69.5
-132
-230
-243
-177
Interest expense
0.19
0
4.46
6.79
21.6
Interest income
0.04
5.23
14.1
12.3
13
Other non-operating income
-16.1
-56.4
80.4
15.5
18.7
19.3
Pre-tax income
-39.7
-126
-51.6
-215
-224
-158
Income tax
0
0
0
-0.63
-1.39
-1.31
Net income to minority interests
0
0
-0.06
-0.29
0.13
Net income
-39.7
-126
-51.6
-214
-222
-157
EBITDA
-23
-68
-124
-196
-198
-142
EPS, basic
-0.46
-1.01
-0.32
-1.27
-1.19
-0.75
EPS, diluted
-0.46
-1.01
-0.77
-1.30
-1.19
-0.75
Shares, basic (weighted)
85.3
124
162
169
186
208
Shares, diluted (weighted)
85.3
124
164
170
186
208
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
29.1
385
323
233
273
106
Short-term investments
0
0
0
73.7
0
406
Receivables
0
0.17
0.91
4.57
4.42
Inventory
0
0.63
8.74
7.66
13.6
Other current assets
0.95
8.27
5.99
5.2
9.9
8.12
Total current assets
33
398
330
323
295
542
Property, plant and equipment
31.3
76.6
104
166
168
170
Lease right-of-use assets
0
6.67
6.13
15.3
13.5
11.7
Goodwill
0
12.1
12.2
12.2
Intangible assets
0
42.2
36.4
31.6
Long-term investments
0
0
0
107
Other non-current assets
0.14
1.16
0.94
5.1
2.13
4.16
Total assets
65
483
441
564
527
879
Accounts payable
2.08
3.14
7.08
21.3
9.49
17.8
Accrued liabilities
2
7.11
7.09
14
19.8
14
Deferred revenue
5.41
5.58
0.05
6.71
3.65
5.02
Short-term debt
0
5.92
9.45
9.87
Total current liabilities
10.9
20.6
23
61
53.7
65
Long-term debt
0
169
170
519
Lease liabilities
0
9.07
8.23
15.6
13.3
11.2
Other non-current liabilities
0.23
0.19
0.09
0.01
0.01
0.01
Total liabilities
28.7
156
84.2
303
278
605
Total debt
0
171
170
520
Paid-in capital
243
659
741
857
1,068
1,308
Retained earnings
-207
-333
-385
-599
-821
-978
Treasury stock
0
-58.4
Other comprehensive income
0
-0.06
-0.14
-0.51
Shareholders' equity
36.2
326
356
258
247
271
Minority interests
0
2.96
2.66
2.8
Total equity
36.2
326
356
261
249
274
Total liabilities and equity
65
483
441
564
527
879
Shares outstanding
106
162
167
167
191
217
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-39.7
-126
-51.6
-214
-223
-157
Depreciation and amortization
0.58
1.52
7.97
34
45
35.1
Stock-based compensation
0.67
10.7
30.4
69.5
58.8
49.4
Deferred income tax
-0.81
-2.7
-1.37
Change in receivables
0
0
-0.17
-0.37
-2.47
-3.94
Change in inventory
0
0
-0.63
4.51
1.07
-5.51
Change in payables
1.83
1.52
2.27
6.1
-7.97
4.69
Cash from operations
-20.1
-51.3
-82.7
-105
-109
-95.3
Capital expenditures
-27
-43.6
-36.2
-61.8
-76.2
-18.2
Acquisitions
0
0
-9.97
0
0
Purchases of investments
0
0
-138
-31.8
-585
Sales and maturities of investments
0
0
67.2
107
74.9
Cash from investing
-27
-43.6
-36.2
-143
-1.38
-538
Debt issued
1.63
15
0
173
4.57
360
Debt repaid
-15
0
-0.07
-0.21
Stock issued
0.36
0.19
0
0
107
0
Share buybacks
0
-0.03
-0.01
0
0
-58.4
Cash from financing
65.9
451
56.5
160
151
467
Exchange rate effect
0
0
0.15
-1.17
-0.54
Net change in cash
18.9
356
-62.4
-87.9
39.6
-167
Free cash flow
-47
-94.9
-119
-166
-185
-114
Interest paid
0
0
2.76
5.69
5.67
Income taxes paid
0
0
0.19
1.13
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to July 5, 2026; growth uses fiscal years. Valuation uses the share price of $2.87 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
18.8%
Gross profit / revenue.
Operating margin
-496.5%
Operating income / revenue.
EBITDA margin
-397.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-476.6%
Pre-tax income / revenue.
Net margin
-473.9%
Net income / revenue.
FCF margin
-346.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-299.3%
Cash from operations / revenue.
Return on equity (ROE)
-81.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-21.3%
Net income / average total assets.
Return on invested capital (ROIC)
-20.2%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
298.9%
Research and development expense / revenue.
SG&A / revenue
216.5%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
133.9%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
46.9%
Capital expenditures / revenue.
D&A / revenue
99.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
37.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
72.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
9.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-8.7%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
49.6%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
66.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
25.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
68.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
11.6%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
8.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
19.5%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
9.71x
Current assets / current liabilities.
Quick ratio
9.19x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
9.13x
(Cash + short-term investments) / current liabilities.
Debt / equity
2.48x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
65.2%
Total debt / total assets.
Liabilities / assets
73.5%
Total liabilities / total assets.
Net debt
$45.4M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.16
Revenue / diluted weighted shares.
FCF per share
-$0.57
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.49
Cash from operations / diluted weighted shares.
Book value per share
$0.96
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
17.6x
Market cap / revenue.
P/B
3.00x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
3.74x
Market cap / tangible book value, when positive.
EV/Sales
18.8x
Enterprise value / revenue.
FCF yield
-19.7%
Free cash flow / market cap.
Earnings yield
-27.0%
Net income / market cap (the inverse of P/E).
What was Enovix Corp's revenue in fiscal 2025?
Enovix Corp reported revenue of $31.8M for fiscal 2025, 37.9% higher than the year before.
Was Enovix Corp profitable in fiscal 2025?
No. It reported a net loss of $156.7M.
How much free cash flow did Enovix Corp generate in fiscal 2025?
Cash from operations of $95.3M minus capital expenditures of $18.2M left free cash flow of -$113.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.