Electrovaya Inc. (ELVA) vs Enovix Corporation (ENVX)

Electrovaya Inc. and Enovix Corporation are both Electrical Equipment & Parts companies. Enovix Corporation is the larger, with a market value of $526.7M against $231.5M — 2.3× the size. Enovix Corporation has negative trailing earnings, so its P/E is not meaningful; Electrovaya Inc. trades at 44.0×. Enovix Corporation grew revenue faster over the last twelve months: 34.9% against 30.9%. Electrovaya Inc. has the higher net margin (6.14% vs −473.9%) and the higher return on invested capital (4.60% vs −41.6%). Across the 18 metrics below, Electrovaya Inc. leads on 14 and Enovix Corporation on 4.

Valuation

Metric ELVA ENVX Electrical Equipment & Parts median
P/E 44.02 n/m 24.14
P/S 3.23 14.68 2.33
P/B 3.46 2.48 2.49
Price to free cash flow n/m n/m 22.24
EV/EBITDA 30.36 n/m 12.18
EV/Sales 3.59 16.23 1.79
Earnings yield 2.27% (33.20%) (6.07%)
Free cash flow yield (6.73%) (23.59%) (5.34%)

Profitability

Metric ELVA ENVX Electrical Equipment & Parts median
Gross margin 33.00% 18.83% 29.92%
Operating margin 9.35% (496.54%) 0.00%
Net margin 6.14% (473.89%) 0.00%
Free cash flow margin (21.76%) (346.17%) 0.00%
Return on equity 9.85% (81.23%) 0.00%
Return on assets 5.12% (26.80%) 0.00%
Return on invested capital 4.60% (41.58%) 0.00%

Growth

Metric ELVA ENVX Electrical Equipment & Parts median
Revenue growth (TTM) 30.88% 34.88% 10.59%
EPS growth (last fiscal year) 300.00% 36.97% 24.08%
Revenue growth, 5-year CAGR 34.45% — 9.92%
Net income growth, 5-year CAGR 24.77% 0.00% 0.00%

Health

Metric ELVA ENVX Electrical Equipment & Parts median
Debt to equity 0.60 2.51 0.15
Current ratio 7.53 9.71 2.34
Net debt to EBITDA 2.17 (0.12) 0.26

Dividend

Metric ELVA ENVX Electrical Equipment & Parts median
Dividend yield — — 0.33%
Payout ratio — — 0.09

Size

Metric ELVA ENVX Electrical Equipment & Parts median
Market cap 231.50m 526.68m 159.94m

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