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Enovix (Enovix) Interest Coverage : 0 (At Loss) (As of Dec. 2023)


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What is Enovix Interest Coverage?

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. Enovix's Operating Income for the three months ended in Dec. 2023 was $-64.78 Mil. Enovix's Interest Expense for the three months ended in Dec. 2023 was $-1.63 Mil. did not have earnings to cover the interest expense. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for Enovix's Interest Coverage or its related term are showing as below:


ENVX's Interest Coverage is not ranked *
in the Industrial Products industry.
Industry Median: 13.76
* Ranked among companies with meaningful Interest Coverage only.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.


Enovix Interest Coverage Historical Data

The historical data trend for Enovix's Interest Coverage can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

* Premium members only.

Enovix Interest Coverage Chart

Enovix Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Interest Coverage
- - N/A -

Enovix Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Interest Coverage Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only N/A N/A - - -

Competitive Comparison of Enovix's Interest Coverage

For the Electrical Equipment & Parts subindustry, Enovix's Interest Coverage, along with its competitors' market caps and Interest Coverage data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Enovix's Interest Coverage Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Enovix's Interest Coverage distribution charts can be found below:

* The bar in red indicates where Enovix's Interest Coverage falls into.



Enovix Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage=-1* Operating Income /Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt (1).


Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Enovix's Interest Coverage for the fiscal year that ended in Dec. 2023 is calculated as

Here, for the fiscal year that ended in Dec. 2023, Enovix's Interest Expense was $-4.46 Mil. Its Operating Income was $-222.82 Mil. And its Long-Term Debt & Capital Lease Obligation was $184.69 Mil.

Enovix did not have earnings to cover the interest expense.

Enovix's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Here, for the three months ended in Dec. 2023, Enovix's Interest Expense was $-1.63 Mil. Its Operating Income was $-64.78 Mil. And its Long-Term Debt & Capital Lease Obligation was $184.69 Mil.

Enovix did not have earnings to cover the interest expense.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

The higher the ratio, the stronger the company's Financial Strength is.


Enovix  (NAS:ENVX) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .


Enovix Interest Coverage Related Terms

Thank you for viewing the detailed overview of Enovix's Interest Coverage provided by GuruFocus.com. Please click on the following links to see related term pages.


Enovix (Enovix) Business Description

Traded in Other Exchanges
Address
3501 W. Warren Avenue, Fremont, CA, USA, 94538
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
Executives
Rajendra K Talluri director, officer: President and CEO 3501 W. WARREN AVENUE, FREMONT CA 94538
Betsy S Atkins director
Arthi Chakravarthy officer: See Remarks C/O ENOVIX CORPORATION, 3501 W. WARREN AVENUE, FREMONT CA 94538
Farhan Ahmad officer: Chief Financial Officer C/O ENOVIX CORPORATION, 3501 W. WARREN AVENUE, FREMONT CA 94538
Bernard Gutmann director ON SEMICONDUCTOR C/O V PECORA (M/D A700), 5005 EAST MCDOWELL ROAD, PHOENIX AZ 85008
Ralph H Schmitt officer: Chief Commercial Officer C/O ENOVIX CORPORATION, 3501 W. WARREN AVENUE, FREMONT CA 94538
Thurman J Rodgers director, 10 percent owner 535 EASTVIEW WAY, WOODSIDE CA 94062
Ashok Lahiri officer: Chief Technology Officer C/O ENOVIX CORPORATION, 3501 W. WARREN AVENUE, FREMONT CA 94538
Ajay Marathe officer: Chief Operating Officer C/O ENOVIX CORPORATION, 3501 W. WARREN AVENUE, FREMONT CA 94538
Harrold J Rust director, officer: President and CEO C/O ENOVIX CORPORATION, 3501 W. WARREN AVENUE, FREMONT CA 94538
Gardner Cameron Dales officer: Chief Commercial Officer C/O ENOVIX CORPORATION, 3501 W. WARREN AVENUE, FREMONT CA 94538
Eclipse Fund Iii, L.p. 10 percent owner 514 HIGH STREET, SUITE 4, PALO ALTO CA 94301
Eclipse Gp Iii, Llc 10 percent owner 514 HIGH STREET, SUITE 4, PALO ALTO CA 94301
J Daniel Mccranie director C/O ENOVIX CORPORATION, 3501 W. WARREN AVENUE, FREMONT CA 94538
Edward J Hejlek officer: See Remarks C/O ENOVIX CORPORATION, 3501 W. WARREN AVENUE, FREMONT CA 94538