(NVST) Envista Holdings - NYSE
Sector: Healthcare | Industry: Medical Instruments & Supplies | Exchange: NYSE (USA) | Market Cap: 4.237m USD | Total Return: 37.2% in 12m
Avg Turnover: 63.6M
EPS Trend: -56.1%
Qual. Beats: 0
Rev. Trend: 54.2%
Qual. Beats: 5
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality
Envista Holdings Corporation (NYSE: NVST) is a Brea, California-based dental products company that develops, manufactures, and distributes a broad portfolio of dental implants, orthodontic systems, dental equipment, and consumables across the United States, China, and international markets. The company operates through two reporting segments: Specialty Products & Technologies, which covers implants, guided surgery, biomaterials, orthodontics (brackets, wires, clear aligners), and related software such as DTX Studio Clinic, marketed under brands including Nobel Biocare, Ormco, and Spark; and Equipment & Consumables, which provides digital imaging systems, endodontic systems, restorative materials, impression materials, bonding agents, and infection prevention products under brands such as Dexis, Kerr, and Metrex, sold primarily to dental offices, clinics, and hospitals. Envista was incorporated in 2018 and completed its IPO in September 2019, and its products are sold through a B2B model serving dental professionals and institutions globally.
The dental products industry is generally considered a defensive, non-cyclical segment of the broader health care equipment market, supported by recurring demand for consumables such as impression materials, bonding agents, and infection prevention products, which tend to generate ongoing replacement revenue independent of broader economic cycles. Many of Envistas offerings, including dental implants, clear aligners, and orthodontic appliances, are tied to elective and semi-elective procedures whose growth is typically driven by demographics, rising oral health awareness, and increased insurance coverage rather than short-term macroeconomic conditions.
- Spark clear aligners gain share against Align Technology
- China weakness pressures premium implant segment revenue
- Equipment segment margins expand on price and cost actions
| Net Income: 67.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -0.95 > 1.0 |
| NWC/Revenue: 40.33% < 20% (prev 39.00%; Δ 1.33% < -1%) |
| CFO/TA 0.05 > 3% & CFO 272.1m > Net Income 67.7m |
| Net Debt (656.5m) to EBITDA (346.7m): 1.89 < 3 |
| Current Ratio: 2.44 > 1.5 & < 3 |
| Outstanding Shares: last quarter (166.4m) vs 12m ago -4.15% < -2% |
| Gross Margin: 55.14% > 18% (prev 54.18%; Δ 0.96% > 0.5%) |
| Asset Turnover: 50.85% > 50% (prev 45.81%; Δ 5.05% > 0%) |
| Interest Coverage Ratio: 6.35 > 6 (EBIT TTM 220.3m / Interest Expense TTM 34.7m) |
| A: 0.20 (Total Current Assets 1.92b - Total Current Liabilities 786.6m) / Total Assets 5.58b |
| B: -0.07 (Retained Earnings -401.7m / Total Assets 5.58b) |
| C: 0.04 (EBIT TTM 220.3m / Avg Total Assets 5.52b) |
| D: 1.23 (Book Value of Equity 3.08b / Total Liabilities 2.50b) |
| Altman-Z'' = 2.66 = A |
| DSRI: 0.99 (Receivables 436.6m/393.1m, Revenue 2.81b/2.50b) |
| GMI: 0.98 (GM 54.18% / 55.14%) |
| AQI: 0.99 (AQ_t 0.58 / AQ_t-1 0.59) |
| SGI: 1.12 (Revenue 2.81b / 2.50b) |
| TATA: -0.04 (NI 67.7m - CFO 272.1m) / TA 5.58b) |
| Beneish M = -2.98 (Cap -4..+1) = A |
As of June 28, 2026, the stock is trading at USD 26.96 with a total of 2,009,776 shares traded. Over the past week, the price has changed by +4.05%, over one month by +14.72%, over three months by +4.33% and over the past year by +37.20%.
Current recommended Stop Loss: 25.90 (which is 3.9% or 1.2 ATR below the current price).
Envista Holdings has received a consensus analysts rating of 3.29. Therefore, it is recommended to hold NVST.
- StrongBuy: 3
- Buy: 0
- Hold: 10
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 29.7 | 10.1% |
P/E Trailing = 63.5122
P/E Forward = 20.3252
P/S = 1.509
P/B = 1.376
Revenue TTM = 2.81b USD
EBIT TTM = 220.3m USD
EBITDA TTM = 346.7m USD
Long Term Debt = 1.44b USD (from longTermDebt, last quarter)
Short Term Debt = 38.7m USD (from shortTermDebt, last quarter)
Debt = 1.74b USD (from shortLongTermDebtTotal, last quarter) + Leases 150.1m
Net Debt = 656.5m USD (calculated: Debt 1.74b - CCE 1.08b)
Enterprise Value = 4.89b USD (4.24b + Debt 1.74b - CCE 1.08b)
Interest Coverage Ratio = 6.35 (Ebit TTM 220.3m / Interest Expense TTM 34.7m)
EV/FCF = 22.22x (Enterprise Value 4.89b / FCF TTM 220.2m)
FCF Yield = 4.50% (FCF TTM 220.2m / Enterprise Value 4.89b)
FCF Margin = 7.84% (FCF TTM 220.2m / Revenue TTM 2.81b)
Net Margin = 2.41% (Net Income TTM 67.7m / Revenue TTM 2.81b)
Gross Margin = 55.14% ((Revenue TTM 2.81b - Cost of Revenue TTM 1.26b) / Revenue TTM)
Gross Margin QoQ = 55.29% (prev 55.04%)
Tobins Q-Ratio = 0.88 (Enterprise Value 4.89b / Total Assets 5.58b)
Interest Expense / Debt = 2.00% (Interest Expense 34.7m / Debt 1.74b)
Taxrate = 25.86% (13.5m / 52.2m)
NOPAT = 163.3m (EBIT 220.3m * (1 - 25.86%))
Current Ratio = 2.44 (Total Current Assets 1.92b / Total Current Liabilities 786.6m)
Debt / Equity = 0.56 (Debt 1.74b / totalStockholderEquity, last quarter 3.08b)
Debt / EBITDA = 1.89 (Net Debt 656.5m / EBITDA 346.7m)
Debt / FCF = 2.98 (Net Debt 656.5m / FCF TTM 220.2m)
Total Stockholder Equity = 3.10b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.23% (Net Income 67.7m / Total Assets 5.58b)
RoE = 2.18% (Net Income TTM 67.7m / Total Stockholder Equity 3.10b)
RoCE = 4.85% (EBIT 220.3m / Capital Employed (Equity 3.10b + L.T.Debt 1.44b))
RoIC = 3.48% (NOPAT 163.3m / Invested Capital 4.69b)
WACC = 8.58% (E(4.24b)/V(5.98b) * Re(11.49%) + D(1.74b)/V(5.98b) * Rd(2.00%) * (1-Tc(0.26)))
Discount Rate = 11.49% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -42.22 | Cagr: -1.38%
[DCF] Terminal Value 72.25% ; FCFF base≈239.2m ; Y1≈209.8m ; Y5≈169.5m
[DCF] Fair Price = 12.08 (EV 2.62b - Net Debt 656.5m = Equity 1.97b / Shares 162.7m; r=8.58% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -56.08 | EPS CAGR: -21.06% | SUE: 0.63 | # QB: 0
Revenue Correlation: 54.22 | Revenue CAGR: 2.11% | SUE: 0.91 | # QB: 5
EPS current Quarter (2026-06-30): EPS=0.34 | Chg30d=+0.42% | Revisions=+29% | Analysts=14
EPS next Quarter (2026-09-30): EPS=0.34 | Chg30d=-0.23% | Revisions=-71% | Analysts=14
EPS current Year (2026-12-31): EPS=1.43 | Chg30d=+0.20% | Revisions=+71% | GrowthEPS=+20.4% | GrowthRev=+5.2%
EPS next Year (2027-12-31): EPS=1.57 | Chg30d=+0.18% | Revisions=+20% | GrowthEPS=+9.8% | GrowthRev=+3.5%
[Analyst] Revisions Ratio: -71%