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Envista Holdings (NVST) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NYSE•Healthcare•Medical Instruments & Supplies
B
GoodMetricSide Score: 69/100
ProfitabilityProfit13/30
GrowthGrowth23/25
Balance SheetBalance19/25
Cash QualityCash14/20
Price & Volume
Market Cap $4.30B

Envista Holdings Corporation, together with its subsidiaries, develops, manufactures, markets, and sells dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies, and Equipment & Consumables. The Specialty Products & Technologies segment offers dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists and periodontists, and general dentist; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products, as well as provides DTX Studio Clinic, a software package offered with its imaging products. This segment offers its products under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, Ormco, Spark, Orascoptic, Damon, Insignia, AOA brands. The Equipment & Consumables segment provides dental equipment and supplies, including digital imaging systems, software, and other visualization/magnification systems; endodontic systems and related products; restorative materials, rotary burs, impression materials, bonding agents, and cements; and infection prevention products. This segment offers its products under the Dexis, DTX Studio, Kerr, Metrex, Total Care, Pentron, Optibond, Harmonize, Sonicfill, Sybron Endo, and CaviWipes to dental offices, clinics, and hospitals. Envista Holdings Corporation was incorporated in 2018 and is headquartered in Brea, California.

Moat Signals

Competitive analysis based on 27 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging -16.4%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Risk Signals

Data-driven red flags and warnings across 27 quarters

Some Concerns

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Leverage Risk

Healthy

D/E ratio is 0.5 — conservative capital structure with low financial risk.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Share Dilution

Healthy

Shares decreased 4.8% — net buybacks are reducing shares outstanding and boosting per-share value.

Metrics at a Glance

as of April 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$2.81B
12.1%
Q. Revenue
$705.50M
TTM EBITDA
$356.90M
139.4%
TTM Op. Income
$239.60M
122.9%
Q. Op. Income
$62.50M
TTM Net Income
$67.70M
106.0%
Q. Net Income
$38.70M
EPS
$0.24
Shares Out.
$163.90M
4.9%
$2.81B in TTM revenue grew 12.1% YoY, reaching $705.50M last quarter. TTM EBITDA of $356.90M and TTM operating income of $239.60M shows growth is flowing through. Net income of $67.70M TTM confirms the company is converting revenue into profit. Revenue is growing at a healthy pace — a signal to hold.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
55.3%
1.5%
EBITDA Margin
13.0%
Op. Margin
8.9%
40.1%
Net Margin
5.5%
88.0%
Op. margin of 8.9% is up 2.5% YoY — cost efficiency is improving. Net margin at 5.5% and gross margin of 55.3% — earnings take a bigger bite when COGS stays lean..

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
63.5x
P/S Ratio
1.5x
P/B Ratio
1.4x
At 63.5x P/E, the stock trades at a premium — the market expects above-average growth. P/S of 1.5x and P/B of 1.4x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$5.58B
Cash
$1.08B
Long-Term Debt
$1.44B
Book Value
$3.08B
D/E Ratio
0.5
Debt/EBITDA
15.7
With $5.58B in assets and $1.44B in long-term debt, the D/E of 0.5and book value of $3.08B — shows a conservative capital structure — the company has a strong financial cushion to weather downturns.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-3.30M
TTM Free Cash Flow
$220.20M
17.8%
FCF Margin
7.8%
FCF / Net Income
3.3
TTM FCF of $220.20M on $-3.30M in operating cash flow. The FCF / Net Income ratio of 3.3x means earnings are well backed by actual cash — high-quality earnings.

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Cash Generation

Moderate Moat

6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.

Demand Durability

Moderate Moat

Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.