ELVA vs IE vs ENVX Stock Comparison

Electrovaya, Ivanhoe Electric and Enovix 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
IE Ivanhoe Electric Inc.
$8.44 -20.1% 1M -44.7% 1Y
Market cap
$1.35B
P/E
–
Revenue (TTM)
$3.02M
Div. yield
–
Copper Basic Materials
3 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
1 win

Head to Head

9 decided of 12

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

QuestionELVAIEENVXLeader
Larger companyMarket capitalisation $219.81M $1.35B $734.31M IE
Cheaper on earningsLower P/E, profitable companies only 46.3x -38.8x -4.3x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 58.0x — — –
Faster revenue growthRevenue growth, trailing twelve months +30.9% -20.6% +34.9% ENVX
More profitableNet margin, trailing twelve months 6.1% -1,138.7% -473.9% ELVA
Better return on capitalReturn on invested capital 3.4% 0.0% -23.4% ELVA
Less leveragedLower net debt / EBITDA 4.9x -13.0x -0.4x IE
Higher dividend yieldTrailing dividend yield — — — –
Better 1-year returnPrice return, last 12 months -16.9% -44.7% -72.5% ELVA
Better 5-year returnAnnualised price return, 5 years +0.9%/yr — -33.9%/yr ELVA
Less volatileAnnualised volatility, 1 year 94.3% 76.9% 90.8% IE
Higher overall scoreMean of the five percentile scores vs peers 77/100 45/100 31/100 ELVA

Percentile Scorecard

ELVAIEENVX

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

AxisELVAIEENVX
Valuation 70 #19 of 61 25 #122 of 162 18 #50 of 61
Growth 95 #4 of 58 63 #55 of 147 53 #28 of 58
Profitability 78 #13 of 55 36 #78 of 122 19 #45 of 55
Financial Health 54 #33 of 71 86 #24 of 164 43 #41 of 71
Shareholder Returns 90 #4 of 30 14 #92 of 107 24 #23 of 30
Overall 77 45 31
  • ELVA ranked among 71 companies in Clean Energy Equipment
  • IE ranked among 176 companies in Metals and Mining
  • ENVX 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

PeriodELVAIEENVXSPY
1 month -17.8%-20.1%+16.7% -0.2%
3 months -34.7%-7.2%-15.6% +3.9%
6 months -42.1%-35.8%-47.4% +8.2%
Year to date -33.9%-47.2%-54.2% +12.9%
1 year -16.9%-44.7%-72.5% +12.3%
3 years +83.9%-20.5%-61.8% +87.4%
3 years, per year +22.5%-7.3%-27.5% +23.3%
5 years +4.3%—-87.3% +67.9%
5 years, per year +0.9%—-33.9% +10.9%
10 years -55.0%—— +261.1%
10 years, per year -7.7%—— +13.7%

Risk

MeasureELVAIEENVXSPY
Volatility, 1Y 94.3%76.9%90.8% 12.7%
Downside volatility, 1Y 90.9%81.0%94.8% 12.7%
Beta vs S&P 500, 1Y 3.443.323.68 1.00
Return / volatility, 1Y -0.18-0.58-0.80 0.97
Max drawdown, 5Y -64.2%-71.1%-93.7% -25.4%
From 52-week high -57.4%-57.6%-72.6% -1.2%
52-week high $12.26$19.92$12.21 $779.14
52-week low $4.23$7.68$2.25 $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.

MultipleELVAIEENVX
P/E now vs peer median 46.3xmedian 27.2x -38.8xmedian 13.3x -4.3xmedian 27.2x
P/S now vs peer median 3.1xmedian 2.4x 445.6xmedian 3.2x 20.5xmedian 2.4x
EV/EBITDA now vs peer median 47.8xmedian 18.4x 66.2xmedian 7.3x -5.6xmedian 18.4x
P/FCF now vs peer median 58.1xmedian 28.6x -16.2xmedian 14.7x -5.9xmedian 28.6x
P/B now vs peer median 3.3xmedian 1.7x 2.5xmedian 2.2x 3.5xmedian 1.7x
PEG now vs peer median —median 0.79 -0.79median 0.31 -0.23median 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 monthsELVAIEENVX
Revenue $71.82M $3.02M $35.88M
Gross profit $23.70M $1.78M $6.76M
Operating income $6.72M $14.34M -$178.15M
Net income $4.41M -$5.89M -$170.09M
Free cash flow $3.78M -$83.11M -$124.20M
R&D $4.26M $78.04M $107.23M
EPS (diluted) – $-0.22 $-0.78
Cash & equivalents $13.08M $256.88M $33.74M
Total debt $118.21M $214.09M $531.59M
Shares (diluted) – 158.35M 218.50M
Enterprise value $157.31M $562.34M -$1.34B

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
MetricELVAIEENVX
P/E 46.3x -38.8x -4.3x
P/FCF 58.1x -16.2x -5.9x
P/Operating cash flow -26.4x -12.7x -6.8x
P/S 3.1x 445.6x 20.5x
P/B 3.3x 2.5x 3.5x
P/Tangible book 3.3x 2.5x 4.0x
EV/EBITDA 47.8x 66.2x -5.6x
EV/EBIT 36.5x 78.5x -4.4x
EV/Revenue 3.4x 372.3x 22.0x
EV/FCF 64.7x -13.5x -6.4x
EV/Operating cash flow -29.4x -10.6x -7.4x
PEG (3Y EPS CAGR) – -0.79 -0.23

Growth

14 metrics
MetricELVAIEENVX
Revenue growth (1Y) 30.9% -20.6% 34.9%
Revenue CAGR (3Y) 31.3% -4.2% 78.8%
Gross profit growth (1Y) 45.1% -28.8% 158.6%
Gross profit CAGR (3Y) 43.3% 56.6% 28.9%
Operating income growth (1Y) 159.9% 111.6% -4.7%
Operating income CAGR (3Y) 52.9% 27.7% 8.9%
Net income growth (1Y) 267.2% 93.6% -32.7%
Net income CAGR (3Y) 38.9% 67.4% 9.6%
EPS growth (1Y) – 64.3% -24.5%
EPS CAGR (3Y) – 49.2% 19.0%
Operating cash flow growth (1Y) -26.6% 6.2% -20.1%
Operating cash flow CAGR (3Y) – 8.3% 2.8%
Free cash flow growth (1Y) 145.4% 28.4% 11.0%
Free cash flow CAGR (3Y) – 17.1% 5.7%

Profitability

14 metrics
MetricELVAIEENVX
Gross margin 33.0% 58.7% 18.8%
EBITDA margin 7.1% 562.4% -392.7%
Operating margin 9.3% 474.5% -496.5%
Pretax margin 9.3% 207.3% -476.6%
Net margin 6.1% -1,139% -473.9%
FCF margin 5.3% -2,749% -346.2%
Operating cash flow margin -11.6% -3,507% -299.3%
Return on equity 9.8% -1.1% -74.8%
Return on assets 5.7% -1.0% -20.8%
Return on invested capital 3.4% 0.0% -23.4%
Return on capital employed 6.6% 2.7% -23.3%
Asset turnover 0.6x 0.0x 0.0x
Cash conversion (OCF / net income) -1.9x 18.0x 0.6x
Stock comp / revenue 4.6% 365.3% 133.9%

Financial Health

11 metrics
MetricELVAIEENVX
Debt / assets 32.3% 6.0% 66.5%
Debt / equity 0.6x 0.1x 2.5x
Net debt / EBITDA 4.9x -13.0x -0.4x
Debt / FCF 10.1x -0.4x -4.3x
Liabilities / assets 43.3% 9.3% 73.5%
Equity / assets 56.7% 90.7% 26.5%
Interest coverage 18.8x – -5.6x
Current ratio 7.5x 5.0x 9.7x
Quick ratio 4.3x 5.2x 9.2x
Cash ratio 1.3x 4.8x 9.1x
Altman Z-score 2.57 13.95 -1.12

Shareholder Returns

7 metrics
MetricELVAIEENVX
Dividend yield – – –
Net buyback yield 1.9% -19.2% -24.2%
Shareholder yield 1.9% -19.2% -24.2%
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.

ConsensusELVAIEENVX
Forward P/E 58.0xFY2026 – –
EPS, next fiscal year $0.09FY2026 $-0.06FY2026 $-0.58FY2026
EPS growth, next FY 0.0%FY2026 – –
EPS growth, the year after +133.3% – –
Revenue, next fiscal year $74.36MFY2026 $3.16MFY2026 $37.92MFY2026
Revenue growth, next FY +16.5%FY2026 -2.5%FY2026 +19.2%FY2026
Revenue growth, the year after +44.3% -6.5% +104.7%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersELVAIEENVX
Held by institutions 37.1% 74.0% 51.0%
Institutions holding 94 203 300
Change in shares held, QoQ +4.8% +2.3% +2.6%
Institutions buying 52 126 150
Institutions selling 26 56 94
Buyers to sellers 2.00 2.25 1.60

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.

ELVAIEENVX
ELVA 1.00 0.38 0.42
IE 0.38 1.00 0.47
ENVX 0.42 0.47 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ELVA, IE and ENVX?

Ivanhoe Electric (IE) is the largest by market capitalisation: Electrovaya (ELVA) $219.81M, Ivanhoe Electric (IE) $1.35B, Enovix (ENVX) $734.31M.

Which company is growing faster?

Enovix (ENVX) grew revenue fastest over the trailing twelve months: Electrovaya (ELVA) +30.9%, Ivanhoe Electric (IE) -20.6%, Enovix (ENVX) +34.9%.

Which company is more profitable?

Electrovaya (ELVA) has the highest net margin (Electrovaya (ELVA) 6.1%, Ivanhoe Electric (IE) -1,138.7%, Enovix (ENVX) -473.9%). On return on invested capital, Electrovaya (ELVA) leads (Electrovaya (ELVA) 3.4%, Ivanhoe Electric (IE) 0.0%, Enovix (ENVX) -23.4%).

Which stock has performed better?

Over the past year Electrovaya (ELVA) returned the most: Electrovaya (ELVA) -16.9%, Ivanhoe Electric (IE) -44.7%, Enovix (ENVX) -72.5%. Over five years, Electrovaya (ELVA) compounded fastest (Electrovaya (ELVA) +0.9%/yr, Enovix (ENVX) -33.9%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Ivanhoe Electric (IE) has been the steadiest (Electrovaya (ELVA) 94.3%, Ivanhoe Electric (IE) 76.9%, Enovix (ENVX) 90.8%). Volatility measures how widely the price swings, not the risk of the business.

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

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.