Enovix Corporation
$750.28M- Market cap
- $732.96M
- Debt
- +$529.37M
- Cash
- −$512.04M
Capital structure 58% equity / 42% debt · EV / Revenue 23.58x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt cap
Decision snapshot: ENVX stock price at premium vs NI $3.34 current versus $0.44 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at NI's multiple
Implied fair value · at ENVX's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple premium
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ENVX FY 2025 (ended Dec 28, 2025) · NI FY 2025 (ended Dec 31, 2025). Fiscal years are not aligned.
Trendline
Ten fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 58% equity / 42% debt · EV / Revenue 23.58x
Capital structure 55% equity / 45% debt · EV / Revenue 5.51x · EV / EBITDA 12.95x
NI carries the larger enterprise value at $35.94B against $750.28M; NI trades on the lower EV / Revenue multiple (5.51x vs 23.58x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Enovix Corporation · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
NISOURCE INC. · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
1.95x
1.71x
Net debt / EBITDA
Leverage against operating earnings
-0.15x
5.80x
Cash and equivalents
Liquid reserves on the balance sheet
$512.04M
$110.10M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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$529.37M
$16.19B
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