(ESTA) Establishment Labs Holdings - NASDAQ
Sector: Healthcare | Industry: Medical Devices | Exchange: NASDAQ (USA) | Market Cap: 2.478m USD | Total Return: 137.9% in 12m
Avg Turnover: 39.5M
Qual. Beats: 0
Rev. Trend: 64.9%
Qual. Beats: 1
Warnings
Interest Coverage Ratio -0.9 is critical
Altman Z'' -2.13 < 1.0 - financial distress zone
Tailwinds
Rs Leader, Idiosyncratic Leader, Tailwind
Establishment Labs Holdings Inc. (NASDAQ: ESTA) is a medical technology company that designs, manufactures, and markets devices used in breast aesthetic and reconstructive plastic surgery. Its flagship offering is a line of silicone gel-filled breast implants sold globally under the Motiva Implants brand, supplemented by breast tissue expanders. The company distributes its products to physicians, hospitals, and clinics through both direct sales personnel and third-party distributors, with commercial reach spanning Europe, the Middle East, Africa, Latin America, Asia, and the United States.
The company was incorporated in 2004 and is headquartered in Austin, Texas, and has traded on NASDAQ since its July 2018 IPO. It sits within the Health Care Supplies sub-industry, competing in the global breast implant and medical aesthetics market alongside larger peers such as Johnson & Johnson (Mentor) and AbbVie (Allergan/AbbVie Aesthetics). Its business model combines premium-priced differentiated implant technology with a mix of owned and partnered distribution channels, which is typical for capital-intensive medical device manufacturers seeking international scale.
- Motiva FDA approval drives US revenue acceleration
- Competition intensifies against Allergan and Mentor breast implants
- International expansion fuels double-digit revenue growth
| Net Income: -43.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.12 > 0.02 and ΔFCF/TA 10.96 > 1.0 |
| NWC/Revenue: 70.86% < 20% (prev 95.55%; Δ -24.69% < -1%) |
| CFO/TA -0.10 > 3% & CFO -34.8m > Net Income -43.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.96 > 1.5 & < 3 |
| Outstanding Shares: last quarter (29.6m) vs 12m ago 0.50% < -2% |
| Gross Margin: 70.06% > 18% (prev 66.35%; Δ 3.71% > 0.5%) |
| Asset Turnover: 67.09% > 50% (prev 51.07%; Δ 16.02% > 0%) |
| Interest Coverage Ratio: -0.94 > 6 (EBIT TTM -24.8m / Interest Expense TTM 26.5m) |
| A: 0.46 (Total Current Assets 245.8m - Total Current Liabilities 83.2m) / Total Assets 351.0m |
| B: -1.45 (Retained Earnings -509.1m / Total Assets 351.0m) |
| C: -0.07 (EBIT TTM -24.8m / Avg Total Assets 342.2m) |
| D: 0.04 (Book Value of Equity 14.8m / Total Liabilities 336.3m) |
| Altman-Z'' = -2.13 = D |
| DSRI: 0.90 (Receivables 77.1m/63.2m, Revenue 229.6m/170.2m) |
| GMI: 0.95 (GM 66.35% / 70.06%) |
| AQI: 1.26 (AQ_t 0.08 / AQ_t-1 0.06) |
| SGI: 1.35 (Revenue 229.6m / 170.2m) |
| TATA: -0.03 (NI -43.7m - CFO -34.8m) / TA 351.0m) |
| Beneish M = -2.75 (Cap -4..+1) = A |
As of June 24, 2026, the stock is trading at USD 87.01 with a total of 341,720 shares traded. Over the past week, the price has changed by +3.33%, over one month by +19.78%, over three months by +45.97% and over the past year by +137.86%.
Current recommended Stop Loss: 81.30 (which is 6.6% or 1.3 ATR below the current price).
Establishment Labs Holdings has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy ESTA.
- StrongBuy: 5
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 90.1 | 3.6% |
P/S = 10.7953
P/B = 167.4186
Revenue TTM = 229.6m USD
EBIT TTM = -24.8m USD
EBITDA TTM = -14.4m USD
Long Term Debt = 248.6m USD (from longTermDebt, last quarter)
Short Term Debt = 13.0m USD (from shortTermDebt, last quarter)
Debt = 268.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 4.12m
Net Debt = 200.0m USD (calculated: Debt 268.1m - CCE 68.1m)
Enterprise Value = 2.68b USD (2.48b + Debt 268.1m - CCE 68.1m)
Interest Coverage Ratio = -0.94 (Ebit TTM -24.8m / Interest Expense TTM 26.5m)
EV/FCF = -63.43x (Enterprise Value 2.68b / FCF TTM -42.2m)
FCF Yield = -1.58% (FCF TTM -42.2m / Enterprise Value 2.68b)
FCF Margin = -18.39% (FCF TTM -42.2m / Revenue TTM 229.6m)
Net Margin = -19.05% (Net Income TTM -43.7m / Revenue TTM 229.6m)
Gross Margin = 70.06% ((Revenue TTM 229.6m - Cost of Revenue TTM 68.7m) / Revenue TTM)
Gross Margin QoQ = 70.70% (prev 70.46%)
Tobins Q-Ratio = 7.63 (Enterprise Value 2.68b / Total Assets 351.0m)
Interest Expense / Debt = 9.88% (Interest Expense 26.5m / Debt 268.1m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -19.6m (EBIT -24.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.96 (Total Current Assets 245.8m / Total Current Liabilities 83.2m)
Debt / Equity = 18.13 (Debt 268.1m / totalStockholderEquity, last quarter 14.8m)
Debt / EBITDA = -13.90 (negative EBITDA) (Net Debt 200.0m / EBITDA -14.4m)
Debt / FCF = -4.74 (negative FCF - burning cash) (Net Debt 200.0m / FCF TTM -42.2m)
Total Stockholder Equity = 19.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -12.78% (Net Income -43.7m / Total Assets 351.0m)
RoE = -225.9% (Net Income TTM -43.7m / Total Stockholder Equity 19.4m)
RoCE = -9.27% (EBIT -24.8m / Capital Employed (Equity 19.4m + L.T.Debt 248.6m))
RoIC = -7.28% (negative operating profit) (NOPAT -19.6m / Invested Capital 269.4m)
WACC = 10.37% (E(2.48b)/V(2.75b) * Re(10.65%) + D(268.1m)/V(2.75b) * Rd(9.88%) * (1-Tc(0.21)))
Discount Rate = 10.65% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.45 | Cagr: 5.85%
[DCF] Fair Price = unknown (Cash Flow -42.2m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.09 | # QB: 0
Revenue Correlation: 64.92 | Revenue CAGR: 9.54% | SUE: 4.0 | # QB: 1
EPS current Quarter (2026-06-30): EPS=-0.30 | Chg30d=+0.00% | Revisions=+20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=-0.23 | Chg30d=+0.00% | Revisions=-20% | Analysts=2
EPS current Year (2026-12-31): EPS=-1.01 | Chg30d=+0.00% | Revisions=+20% | GrowthEPS=+41.7% | GrowthRev=+26.7%
EPS next Year (2027-12-31): EPS=0.07 | Chg30d=+0.00% | Revisions=-20% | GrowthEPS=+107.4% | GrowthRev=+26.2%
[Analyst] Revisions Ratio: +20%