ELVA vs ENVX vs SES Stock Comparison

Electrovaya, Enovix and Ses Ai Prices as of Oct 27, 2026 Peers: Industry group
ELVA Electrovaya Inc.
$5.22 -17.8% 1M -16.9% 1Y
Market cap
$219.81M
P/E
46.3x
Revenue (TTM)
$71.82M
Div. yield
–
Energy Storage Industrials
5 wins
ENVX Enovix Corp
$3.35 +16.7% 1M -72.5% 1Y
Market cap
$734.31M
P/E
–
Revenue (TTM)
$35.88M
Div. yield
–
Energy Storage Industrials
3 wins
SES SES AI Corp
$0.80 +48.1% 1M -67.2% 1Y
Market cap
$261.81M
P/E
–
Revenue (TTM)
$23.46M
Div. yield
–
Energy Storage Industrials
1 win

Head to Head

9 decided of 12

Electrovaya leads on 5 of the 12 questions below (Electrovaya 5, Enovix 3, Ses Ai 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionELVAENVXSESLeader
Larger companyMarket capitalisation $219.81M $734.31M $261.81M ENVX
Cheaper on earningsLower P/E, profitable companies only 46.3x -4.3x -4.0x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 58.0x — — –
Faster revenue growthRevenue growth, trailing twelve months +30.9% +34.9% +44.8% SES
More profitableNet margin, trailing twelve months 6.1% -473.9% -289.6% ELVA
Better return on capitalReturn on invested capital 3.4% -23.4% -37.5% ELVA
Less leveragedLower net debt / EBITDA 4.9x -0.4x 2.6x ENVX
Higher dividend yieldTrailing dividend yield — — — –
Better 1-year returnPrice return, last 12 months -16.9% -72.5% -67.2% ELVA
Better 5-year returnAnnualised price return, 5 years +0.9%/yr -33.9%/yr -39.8%/yr ELVA
Less volatileAnnualised volatility, 1 year 94.3% 90.8% 113.1% ENVX
Higher overall scoreMean of the five percentile scores vs peers 77/100 31/100 53/100 ELVA

Percentile Scorecard

ELVAENVXSES

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisELVAENVXSES
Valuation 70 #19 of 61 18 #50 of 61 17 #51 of 61
Growth 95 #4 of 58 53 #28 of 58 58 #25 of 58
Profitability 78 #13 of 55 19 #45 of 55 26 #41 of 55
Financial Health 54 #33 of 71 43 #41 of 71 90 #8 of 71
Shareholder Returns 90 #4 of 30 24 #23 of 30 76 #8 of 30
Overall 77 31 53
  • ELVA ranked among 71 companies in Clean Energy Equipment
  • ENVX ranked among 71 companies in Clean Energy Equipment
  • SES ranked among 71 companies in Clean Energy Equipment

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodELVAENVXSESSPY
1 month -17.8%+16.7%+48.1% -0.2%
3 months -34.7%-15.6%+50.9% +3.9%
6 months -42.1%-47.4%-23.1% +8.2%
Year to date -33.9%-54.2%-55.6% +12.9%
1 year -16.9%-72.5%-67.2% +12.3%
3 years +83.9%-61.8%-56.5% +87.4%
3 years, per year +22.5%-27.5%-24.3% +23.3%
5 years +4.3%-87.3%-92.1% +67.9%
5 years, per year +0.9%-33.9%-39.8% +10.9%
10 years -55.0%—— +261.1%
10 years, per year -7.7%—— +13.7%

Risk

MeasureELVAENVXSESSPY
Volatility, 1Y 94.3%90.8%113.1% 12.7%
Downside volatility, 1Y 90.9%94.8%119.7% 12.7%
Beta vs S&P 500, 1Y 3.443.683.02 1.00
Return / volatility, 1Y -0.18-0.80-0.59 0.97
Max drawdown, 5Y -64.2%-93.7%-97.6% -25.4%
From 52-week high -57.4%-72.6%-68.9% -1.2%
52-week high $12.26$12.21$2.57 $779.14
52-week low $4.23$2.25$0.50 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleELVAENVXSES
P/E now vs peer median 46.3xmedian 27.2x -4.3xmedian 27.2x -4.0xmedian 27.2x
P/S now vs peer median 3.1xmedian 2.4x 20.5xmedian 2.4x 11.2xmedian 2.4x
EV/EBITDA now vs peer median 47.8xmedian 18.4x -5.6xmedian 18.4x -1.6xmedian 18.4x
P/FCF now vs peer median 58.1xmedian 28.6x -5.9xmedian 28.6x -4.3xmedian 28.6x
P/B now vs peer median 3.3xmedian 1.7x 3.5xmedian 1.7x 1.4xmedian 1.7x
PEG now vs peer median —median 0.79 -0.23median 0.79 5.26median 0.79

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsELVAENVXSES
Revenue $71.82M $35.88M $23.46M
Gross profit $23.70M $6.76M $6.51M
Operating income $6.72M -$178.15M -$73.40M
Net income $4.41M -$170.09M -$67.96M
Free cash flow $3.78M -$124.20M -$60.46M
R&D $4.26M $107.23M $49.84M
EPS (diluted) – $-0.78 $-0.20
Cash & equivalents $13.08M $33.74M $64.14M
Total debt $118.21M $531.59M $3.91M
Shares (diluted) – 218.50M 336.32M
Enterprise value $157.31M -$1.34B -$492.50M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricELVAENVXSES
P/E 46.3x -4.3x -4.0x
P/FCF 58.1x -5.9x -4.3x
P/Operating cash flow -26.4x -6.8x -4.5x
P/S 3.1x 20.5x 11.2x
P/B 3.3x 3.5x 1.4x
P/Tangible book 3.3x 4.0x 1.4x
EV/EBITDA 47.8x -5.6x -1.6x
EV/EBIT 36.5x -4.4x -1.4x
EV/Revenue 3.4x 22.0x 4.2x
EV/FCF 64.7x -6.4x -1.6x
EV/Operating cash flow -29.4x -7.4x -1.7x
PEG (3Y EPS CAGR) – -0.23 5.26

Growth

14 metrics
MetricELVAENVXSES
Revenue growth (1Y) 30.9% 34.9% 44.8%
Revenue CAGR (3Y) 31.3% 78.8% 18.8%
Gross profit growth (1Y) 45.1% 158.6% –
Gross profit CAGR (3Y) 43.3% 28.9% –
Operating income growth (1Y) 159.9% -4.7% 33.0%
Operating income CAGR (3Y) 52.9% 8.9% 3.7%
Net income growth (1Y) 267.2% -32.7% 31.9%
Net income CAGR (3Y) 38.9% 9.6% -3.0%
EPS growth (1Y) – -24.5% 32.8%
EPS CAGR (3Y) – 19.0% -0.8%
Operating cash flow growth (1Y) -26.6% -20.1% 15.0%
Operating cash flow CAGR (3Y) – 2.8% -5.8%
Free cash flow growth (1Y) 145.4% 11.0% 16.2%
Free cash flow CAGR (3Y) – 5.7% 0.6%

Profitability

14 metrics
MetricELVAENVXSES
Gross margin 33.0% 18.8% 27.8%
EBITDA margin 7.1% -392.7% -267.6%
Operating margin 9.3% -496.5% -312.8%
Pretax margin 9.3% -476.6% -289.2%
Net margin 6.1% -473.9% -289.6%
FCF margin 5.3% -346.2% -257.7%
Operating cash flow margin -11.6% -299.3% -248.6%
Return on equity 9.8% -74.8% -34.8%
Return on assets 5.7% -20.8% -27.8%
Return on invested capital 3.4% -23.4% -37.5%
Return on capital employed 6.6% -23.3% -33.9%
Asset turnover 0.6x 0.0x 0.1x
Cash conversion (OCF / net income) -1.9x 0.6x 0.9x
Stock comp / revenue 4.6% 133.9% 35.8%

Financial Health

11 metrics
MetricELVAENVXSES
Debt / assets 32.3% 66.5% 0.2%
Debt / equity 0.6x 2.5x 0.0x
Net debt / EBITDA 4.9x -0.4x 2.6x
Debt / FCF 10.1x -4.3x 0.0x
Liabilities / assets 43.3% 73.5% 20.8%
Equity / assets 56.7% 26.5% 79.2%
Interest coverage 18.8x -5.6x –
Current ratio 7.5x 9.7x 6.5x
Quick ratio 4.3x 9.2x 6.0x
Cash ratio 1.3x 9.1x 5.7x
Altman Z-score 2.57 -1.12 0.69

Shareholder Returns

7 metrics
MetricELVAENVXSES
Dividend yield – – –
Net buyback yield 1.9% -24.2% -0.1%
Shareholder yield 1.9% -24.2% -0.1%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusELVAENVXSES
Forward P/E 58.0xFY2026 – –
EPS, next fiscal year $0.09FY2026 $-0.58FY2026 $-0.17FY2026
EPS growth, next FY 0.0%FY2026 – –
EPS growth, the year after +133.3% – –
Revenue, next fiscal year $74.36MFY2026 $37.92MFY2026 $33.88MFY2026
Revenue growth, next FY +16.5%FY2026 +19.2%FY2026 +61.3%FY2026
Revenue growth, the year after +44.3% +104.7% +104.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersELVAENVXSES
Held by institutions 37.1% 51.0% 24.3%
Institutions holding 94 300 133
Change in shares held, QoQ +4.8% +2.6% +22.8%
Institutions buying 52 150 74
Institutions selling 26 94 31
Buyers to sellers 2.00 1.60 2.39

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ELVAENVXSES
ELVA 1.00 0.42 0.37
ENVX 0.42 1.00 0.49
SES 0.37 0.49 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ELVA, ENVX and SES?

Enovix (ENVX) is the largest by market capitalisation: Electrovaya (ELVA) $219.81M, Enovix (ENVX) $734.31M, Ses Ai (SES) $261.81M.

Which company is growing faster?

Ses Ai (SES) grew revenue fastest over the trailing twelve months: Electrovaya (ELVA) +30.9%, Enovix (ENVX) +34.9%, Ses Ai (SES) +44.8%.

Which company is more profitable?

Electrovaya (ELVA) has the highest net margin (Electrovaya (ELVA) 6.1%, Enovix (ENVX) -473.9%, Ses Ai (SES) -289.6%). On return on invested capital, Electrovaya (ELVA) leads (Electrovaya (ELVA) 3.4%, Enovix (ENVX) -23.4%, Ses Ai (SES) -37.5%).

Which stock has performed better?

Over the past year Electrovaya (ELVA) returned the most: Electrovaya (ELVA) -16.9%, Enovix (ENVX) -72.5%, Ses Ai (SES) -67.2%. Over five years, Electrovaya (ELVA) compounded fastest (Electrovaya (ELVA) +0.9%/yr, Enovix (ENVX) -33.9%/yr, Ses Ai (SES) -39.8%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Enovix (ENVX) has been the steadiest (Electrovaya (ELVA) 94.3%, Enovix (ENVX) 90.8%, Ses Ai (SES) 113.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ELVA, ENVX and SES?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Electrovaya (ELVA) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.