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Side-by-side financial comparison of EnerSys (ENS) and Enovix Corp (ENVX). Click either name above to swap in a different company.
EnerSys is the larger business by last-quarter revenue ($919.1M vs $11.3M, roughly 81.6× Enovix Corp). EnerSys runs the higher net margin — 9.8% vs -310.6%, a 320.4% gap on every dollar of revenue. On growth, Enovix Corp posted the faster year-over-year revenue change (15.9% vs 1.4%). EnerSys produced more free cash flow last quarter ($171.3M vs $-28.0M). Over the past eight quarters, Enovix Corp's revenue compounded faster (46.2% CAGR vs 0.5%).
EnerSys is a stored energy systems and technology provider for industrial applications. The company manufactures reserve-power and motive-power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosures.
Enovix Corp is an advanced battery technology company that designs, develops and manufactures high-energy-density 3D silicon anode lithium-ion batteries. Its products serve consumer electronics, wearable devices, electric vehicles, and renewable energy storage segments, with customers and operations across North America, Asia and Europe.
ENS vs ENVX — Head-to-Head
Income Statement — Q3 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $919.1M | $11.3M |
| Net Profit | $90.4M | $-35.0M |
| Gross Margin | 30.1% | 22.2% |
| Operating Margin | 13.5% | -390.5% |
| Net Margin | 9.8% | -310.6% |
| Revenue YoY | 1.4% | 15.9% |
| Net Profit YoY | -21.3% | 6.6% |
| EPS (diluted) | $2.40 | $-0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $919.1M | $11.3M | ||
| Q3 25 | $951.3M | $8.0M | ||
| Q2 25 | $893.0M | $7.5M | ||
| Q1 25 | $974.8M | $5.1M | ||
| Q4 24 | $906.2M | $9.7M | ||
| Q3 24 | $883.7M | $4.3M | ||
| Q2 24 | $852.9M | $3.8M | ||
| Q1 24 | $910.7M | $5.3M |
| Q4 25 | $90.4M | $-35.0M | ||
| Q3 25 | $68.4M | $-53.7M | ||
| Q2 25 | $57.5M | $-44.5M | ||
| Q1 25 | $96.5M | $-23.5M | ||
| Q4 24 | $114.8M | $-37.5M | ||
| Q3 24 | $82.3M | $-22.5M | ||
| Q2 24 | $70.1M | $-115.9M | ||
| Q1 24 | $60.9M | $-46.4M |
| Q4 25 | 30.1% | 22.2% | ||
| Q3 25 | 29.1% | 17.5% | ||
| Q2 25 | 28.4% | 26.0% | ||
| Q1 25 | 31.2% | 5.1% | ||
| Q4 24 | 32.9% | 10.8% | ||
| Q3 24 | 28.5% | -14.9% | ||
| Q2 24 | 27.9% | -17.4% | ||
| Q1 24 | 27.9% | -34.1% |
| Q4 25 | 13.5% | -390.5% | ||
| Q3 25 | 9.7% | -587.9% | ||
| Q2 25 | 9.7% | -585.6% | ||
| Q1 25 | 13.5% | -834.8% | ||
| Q4 24 | 15.7% | -355.2% | ||
| Q3 24 | 11.2% | -1141.2% | ||
| Q2 24 | 10.7% | -2355.4% | ||
| Q1 24 | 8.9% | -1330.3% |
| Q4 25 | 9.8% | -310.6% | ||
| Q3 25 | 7.2% | -672.3% | ||
| Q2 25 | 6.4% | -596.3% | ||
| Q1 25 | 9.9% | -461.2% | ||
| Q4 24 | 12.7% | -385.6% | ||
| Q3 24 | 9.3% | -522.0% | ||
| Q2 24 | 8.2% | -3075.2% | ||
| Q1 24 | 6.7% | -879.5% |
| Q4 25 | $2.40 | $-0.14 | ||
| Q3 25 | $1.80 | $-0.27 | ||
| Q2 25 | $1.46 | $-0.22 | ||
| Q1 25 | $2.39 | $-0.12 | ||
| Q4 24 | $2.88 | $0.00 | ||
| Q3 24 | $2.01 | $-0.28 | ||
| Q2 24 | $1.71 | $-0.63 | ||
| Q1 24 | $1.48 | $-0.28 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $450.1M | $512.0M |
| Total DebtLower is stronger | — | $519.5M |
| Stockholders' EquityBook value | $1.9B | $271.2M |
| Total Assets | $4.0B | $879.0M |
| Debt / EquityLower = less leverage | — | 1.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $450.1M | $512.0M | ||
| Q3 25 | $388.6M | $558.8M | ||
| Q2 25 | $346.7M | $203.4M | ||
| Q1 25 | $343.1M | $248.2M | ||
| Q4 24 | $463.2M | $272.9M | ||
| Q3 24 | $407.9M | $200.9M | ||
| Q2 24 | $344.1M | $249.9M | ||
| Q1 24 | $333.3M | $262.4M |
| Q4 25 | — | $519.5M | ||
| Q3 25 | — | $518.6M | ||
| Q2 25 | — | $169.7M | ||
| Q1 25 | $1.1B | $169.4M | ||
| Q4 24 | — | $170.0M | ||
| Q3 24 | — | $168.9M | ||
| Q2 24 | — | $170.1M | ||
| Q1 24 | $802.0M | $169.8M |
| Q4 25 | $1.9B | $271.2M | ||
| Q3 25 | $1.9B | $294.3M | ||
| Q2 25 | $1.9B | $203.7M | ||
| Q1 25 | $1.9B | $235.1M | ||
| Q4 24 | $1.8B | $246.7M | ||
| Q3 24 | $1.8B | $167.6M | ||
| Q2 24 | $1.8B | $170.3M | ||
| Q1 24 | $1.8B | $229.3M |
| Q4 25 | $4.0B | $879.0M | ||
| Q3 25 | $4.1B | $913.7M | ||
| Q2 25 | $4.1B | $469.1M | ||
| Q1 25 | $4.0B | $499.0M | ||
| Q4 24 | $4.0B | $527.2M | ||
| Q3 24 | $4.0B | $448.0M | ||
| Q2 24 | $3.6B | $489.0M | ||
| Q1 24 | $3.5B | $508.9M |
| Q4 25 | — | 1.92× | ||
| Q3 25 | — | 1.76× | ||
| Q2 25 | — | 0.83× | ||
| Q1 25 | 0.57× | 0.72× | ||
| Q4 24 | — | 0.69× | ||
| Q3 24 | — | 1.01× | ||
| Q2 24 | — | 1.00× | ||
| Q1 24 | 0.46× | 0.74× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $184.6M | $-27.0M |
| Free Cash FlowOCF − Capex | $171.3M | $-28.0M |
| FCF MarginFCF / Revenue | 18.6% | -248.6% |
| Capex IntensityCapex / Revenue | 1.4% | 8.9% |
| Cash ConversionOCF / Net Profit | 2.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $441.3M | $-113.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.6M | $-27.0M | ||
| Q3 25 | $218.0M | $-25.5M | ||
| Q2 25 | $968.0K | $-25.9M | ||
| Q1 25 | $135.2M | $-16.9M | ||
| Q4 24 | $81.1M | $-16.0M | ||
| Q3 24 | $33.6M | $-30.7M | ||
| Q2 24 | $10.4M | $-26.9M | ||
| Q1 24 | — | $-35.0M |
| Q4 25 | $171.3M | $-28.0M | ||
| Q3 25 | $197.1M | $-28.5M | ||
| Q2 25 | $-32.1M | $-33.8M | ||
| Q1 25 | $104.9M | $-23.2M | ||
| Q4 24 | $56.8M | $-32.3M | ||
| Q3 24 | $3.3M | $-50.2M | ||
| Q2 24 | $-25.7M | $-52.2M | ||
| Q1 24 | — | $-50.1M |
| Q4 25 | 18.6% | -248.6% | ||
| Q3 25 | 20.7% | -356.7% | ||
| Q2 25 | -3.6% | -453.0% | ||
| Q1 25 | 10.8% | -454.7% | ||
| Q4 24 | 6.3% | -332.6% | ||
| Q3 24 | 0.4% | -1163.2% | ||
| Q2 24 | -3.0% | -1384.2% | ||
| Q1 24 | — | -950.9% |
| Q4 25 | 1.4% | 8.9% | ||
| Q3 25 | 2.2% | 37.2% | ||
| Q2 25 | 3.7% | 106.7% | ||
| Q1 25 | 3.1% | 123.0% | ||
| Q4 24 | 2.7% | 168.3% | ||
| Q3 24 | 3.4% | 452.5% | ||
| Q2 24 | 4.2% | 669.0% | ||
| Q1 24 | — | 286.2% |
| Q4 25 | 2.04× | — | ||
| Q3 25 | 3.19× | — | ||
| Q2 25 | 0.02× | — | ||
| Q1 25 | 1.40× | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | 0.41× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENS
| Energy Systems | $399.5M | 43% |
| Motive Power | $352.0M | 38% |
| Services | $92.6M | 10% |
| Transferred Over Time | $38.2M | 4% |
| Other | $36.8M | 4% |
ENVX
Segment breakdown not available.
