Critical Analysis: Enovix (ENVX) versus Its Competitors

Enovix (NASDAQ:ENVXGet Rating) is one of 57 public companies in the “Miscellaneous electrical machinery, equipment, & supplies” industry, but how does it weigh in compared to its competitors? We will compare Enovix to related businesses based on the strength of its earnings, profitability, risk, valuation, institutional ownership, dividends and analyst recommendations.

Insider & Institutional Ownership

56.8% of Enovix shares are held by institutional investors. Comparatively, 52.5% of shares of all “Miscellaneous electrical machinery, equipment, & supplies” companies are held by institutional investors. 11.9% of shares of all “Miscellaneous electrical machinery, equipment, & supplies” companies are held by company insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a company is poised for long-term growth.

Earnings and Valuation

This table compares Enovix and its competitors gross revenue, earnings per share and valuation.

Gross Revenue Net Income Price/Earnings Ratio
Enovix N/A -$125.87 million -8.87
Enovix Competitors $646.25 million $19.61 million 3.44

Enovix’s competitors have higher revenue and earnings than Enovix. Enovix is trading at a lower price-to-earnings ratio than its competitors, indicating that it is currently more affordable than other companies in its industry.

Profitability

This table compares Enovix and its competitors’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Enovix N/A -50.12% -32.99%
Enovix Competitors -98.88% -11.85% -4.95%

Risk & Volatility

Enovix has a beta of 1.98, indicating that its stock price is 98% more volatile than the S&P 500. Comparatively, Enovix’s competitors have a beta of 0.35, indicating that their average stock price is 65% less volatile than the S&P 500.

Analyst Recommendations

This is a summary of current ratings and price targets for Enovix and its competitors, as provided by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Enovix 0 0 5 0 3.00
Enovix Competitors 136 663 988 34 2.51

Enovix currently has a consensus target price of $33.00, indicating a potential upside of 254.46%. As a group, “Miscellaneous electrical machinery, equipment, & supplies” companies have a potential upside of 77.85%. Given Enovix’s stronger consensus rating and higher probable upside, research analysts clearly believe Enovix is more favorable than its competitors.

Summary

Enovix competitors beat Enovix on 7 of the 13 factors compared.

About Enovix (Get Rating)

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

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