Financial Contrast: Enovix (ENVX) and Its Peers

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

Risk and Volatility

Enovix has a beta of 1.9, indicating that its stock price is 90% more volatile than the S&P 500. Comparatively, Enovix’s competitors have a beta of 0.36, indicating that their average stock price is 64% less volatile than the S&P 500.

Insider and Institutional Ownership

56.8% of Enovix shares are owned by institutional investors. Comparatively, 52.2% of shares of all “Miscellaneous electrical machinery, equipment, & supplies” companies are owned by institutional investors. 11.7% of shares of all “Miscellaneous electrical machinery, equipment, & supplies” companies are owned by company insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a stock 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	-12.14
Enovix Competitors	$672.47 million	$19.67 million	2.88

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.

Analyst Recommendations

This is a breakdown of recent ratings and recommmendations 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	137	668	989	35	2.50

Enovix currently has a consensus price target of $33.00, indicating a potential upside of 158.82%. As a group, “Miscellaneous electrical machinery, equipment, & supplies” companies have a potential upside of 63.95%. Given Enovix’s stronger consensus rating and higher possible upside, equities analysts clearly believe Enovix is more favorable than its competitors.

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	-98.86%	-11.85%	-4.93%

Summary

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

Enovix Company Profile (Get Rating)

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