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Enovix Financial Strength

: 7 (As of Jun. 2022)
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Enovix has the Financial Strength Rank of 7.

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3. Altman Z-Score.

GuruFocus does not calculate Enovix's interest coverage with the available data. Enovix's debt to revenue ratio for the quarter that ended in Jun. 2022 was 0.42. As of today, Enovix's Altman Z-Score is 33.70.


Competitive Comparison

For the Electrical Equipment & Parts subindustry, Enovix's Financial Strength, along with its competitors' market caps and Financial Strength 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 Financial Strength Distribution

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

* The bar in red indicates where Enovix's Financial Strength falls into.



Enovix Financial Strength Calculation

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.

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

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:

Enovix's Interest Expense for the months ended in Jun. 2022 was $0.00 Mil. Its Operating Income for the months ended in Jun. 2022 was $-28.03 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2022 was $8.66 Mil.

Enovix's Interest Coverage for the quarter that ended in Jun. 2022 is

GuruFocus does not calculate Enovix's interest coverage with the available data.

The higher the ratio, the stronger the company's financial strength is.

2. Debt to revenue ratio. The lower, the better.

Enovix's Debt to Revenue Ratio for the quarter that ended in Jun. 2022 is

Debt to Revenue Ratio=Total Debt (Q: Jun. 2022 ) / Revenue
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / Revenue
=(0 + 8.661) / 20.404
=0.42

3. Altman Z-Score.

Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

The zones of discrimination were as such:

When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.

Enovix has a Z-score of 33.70, indicating it is in Safe Zones. This implies the Z-Score is strong.

Good Sign:

Altman Z-score of 33.7 is strong.

* 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.


Enovix  (NAS:ENVX) Financial Strength Explanation

The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.

Enovix has the Financial Strength Rank of 7.


Enovix Financial Strength Related Terms

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


Enovix Business Description

Enovix logo
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
Ebrahimi Pegah director C/O ENOVIX CORPORATION 3501 W. WARREN AVENUE FREMONT CA 94538
Atkins Betsy S director
Dales Gardner Cameron officer: Chief Commercial Officer C/O ENOVIX CORPORATION 3501 W. WARREN AVENUE FREMONT CA 94538
Lahiri Ashok officer: Chief Technology Officer C/O ENOVIX CORPORATION 3501 W. WARREN AVENUE FREMONT CA 94538
Eclipse Gp Iii, Llc 10 percent owner 514 HIGH STREET, SUITE 4 PALO ALTO CA 94301
Eclipse Fund Iii, L.p. 10 percent owner 514 HIGH STREET, SUITE 4 PALO ALTO CA 94301
Hejlek Edward J officer: See Remarks C/O ENOVIX CORPORATION 3501 W. WARREN AVENUE FREMONT CA 94538
Reichow Gregory director 3501 W. WARREN AVENUE FREMONT CA 94538
Pietzke Steffen officer: Chief Financial Officer C/O ENOVIX CORPORATION 3501 W. WARREN AVENUE FREMONT CA 94538
Mccranie J Daniel director C/O ENOVIX CORPORATION 3501 W. WARREN AVENUE FREMONT CA 94538
Rust Harrold J director, officer: President and CEO C/O ENOVIX CORPORATION 3501 W. WARREN AVENUE FREMONT CA 94538
Rodgers Thurman J director, 10 percent owner 198 CHAMPION COURT SAN JOSE CA 95134
Petrick Michael J. director 3501 W. WARREN AVENUE FREMONT CA 94538
Electron Global Master Fund, L.p. 10 percent owner 10 EAST 53RD STREET, 19TH FLOOR NEW YORK NY 10022
Park West Asset Management Llc 10 percent owner 900 LARKSPUR LANDING CIRCLE, SUITE 165 LARKSPUR CA 94939

Enovix Headlines

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