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Establishment Labs Holdings Inc.

ESTA Healthcare Medical Devices

Establishment Labs Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $211.1 million, up 27.1% from fiscal 2024.

Revenue
+31.7%
EPS
+31.6%
Free cash flow
+2.75%
Total debt
+18.3%

Quarter to June 2026, against a year earlier

66.25 1.83 +2.84%
Market cap
$1.9B
P/E
0.0×
Fwd P/E
−48.1×
Dividend yield
—
F-score
5/9
Altman Z
2.73
Beneish M
−2.30
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 35.49
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 2 2 5 — — — — — —
Insider Ownership 9.37%

Capital & Financial Ratios $m

Size
Market Cap 1,920.00
Revenue ttm 245.82
Net income ttm (38.89)
Free cash flow ttm (41.55)
Net debt Q 190.55
Valuation
P/E 0.00
Forward P/E (48.10) (negative: loss-making)
Price / sales 7.87
Forward P/S Powerpack
Price / FCF 0.00
Price / book 89.57 (above 6: high)
Financial health
Current ratio Q 3.84 (at or above 1.5: strong)
Debt / equity Q 12.11 (above 2: weak)
Interest coverage Q (0.61)
Growth
Revenue growth Q +31.66% (above 0%: growing)
Operating income growth Q +69.59% (above 0%: growing)
EPS, this year +19.93% (at or above 15%: strong)
EPS, next year A +91.86% (at or above 15%: strong)
Revenue, next year A +30.24% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +73.44% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.7×, against a ten-year median of 9.0×; over the ten years it ranged from 3.2× in 2020 to 20.9× in 2021.
P/S against its own 10 years 44.08%
10-year low 10-year high
P/B against its own 10 years 82.28%
10-year low 10-year high
EV/Sales against its own 10 years 46.24%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 40 90 76 71
Receivables 47 65 77 76
Inventory 79 79 86 85
Other — — — —
175 243 250 248
2023 2024 2025 Q'26
Payables 42 45 43 33
ST’ Debt — — — —
Other 2 7 20 14
57 68 82 65

Compound Annual Growth %

10y 5y 3y
Sales — 20.04% 9.29%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — (20.67%) 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate −0.27 Actual −0.35

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.22 −0.09 Beat by 0.13
Q1 FY26 −0.29 −0.40 Miss by 0.11
Q2 FY26 −0.34 −0.39 Miss by 0.05
Q3 FY26 −0.27 −0.35 Miss by 0.08
Q4 FY26 −0.08 — Reports 23 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.45) (0.39) — — —
’25 (0.70) (0.57) (0.38) (0.09) (1.72)
’24 (0.58) (0.62) (0.59) (1.19) (3.00)
’23 (0.48) (0.65) (1.12) (0.79) (3.07)
’22 (0.24) (1.52) (0.76) (0.55) (3.08)
’21 (0.29) (0.22) (0.61) (0.59) (1.72)
’20 (0.79) (0.45) (0.18) (0.23) (1.63)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 60 68 — — —
’25 41 51 54 65 211
’24 37 44 40 45 166
’23 47 49 39 32 165
’22 38 41 38 44 162
’21 30 32 29 35 127
’20 24 10 23 27 85
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (4) (17) — — —
’25 (21) (19) (11) 0 (51)
’24 (11) (14) (12) (21) (59)
’23 (21) (28) (32) (8) (89)
’22 (5) (11) (22) (14) (52)
’21 (7) (1) (12) (8) (28)
’20 (7) (6) (3) 3 (13)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (20) — — —
’25 (22) (21) (13) (2) (58)
’24 (18) (19) (15) (23) (74)
’23 (25) (37) (38) (13) (113)
’22 (11) (25) (27) (24) (87)
’21 (8) (2) (14) (11) (35)
’20 (8) (7) (5) 7 (14)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 20 35 61 90 85 127 162 165 166 211 246 +30.1% 275 342 420 +25.8%
Gross margin, % 50.99 51.04 59.01 61.25 62.00 67.42 65.92 64.78 65.97 69.32 70.49 +18.3 pt
EBT (22) (35) (21) (38) (38) (40) (73) (79) (85) (58) (47) +11.4%
EBT margin, % (111.23) (100.32) (34.12) (41.88) (44.90) (31.35) (45.04) (47.58) (50.97) (27.49) (19.31) +83.7 pt
Net income (22) (35) (21) (38) (38) (41) (75) (79) (85) (51) (39) +9.7%
Per share, $
Per share, $ Revenue 3.05 3.39 3.53 4.36 3.63 5.28 6.61 6.45 5.90 7.13 8.16 +9.9%
Earnings (3.42) (3.41) (1.22) (1.86) (1.63) (1.72) (3.08) (3.07) (3.00) (1.72) (1.31) (7.3%)
Cash flow (2.20) (3.12) (1.95) (1.46) (0.54) (1.15) (2.13) (3.46) (2.08) (1.72) (1.07) (2.7%)
Capex (1.63) (0.09) (0.10) (0.38) (0.05) (0.30) (1.42) (0.96) (0.55) (0.23) (0.31) (19.7%)
Free cash flow (3.83) (3.22) (2.06) (1.84) (0.59) (1.45) (3.56) (4.42) (2.63) (1.94) (1.38) (7.3%)
Book value (4.08) (0.49) 4.00 1.93 3.22 2.12 (0.33) 0.72 1.89 0.80 0.72 n/m
Shares, m 6 10 17 21 23 24 24 26 28 30 30 +18.4%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 7.97 7.97 7.77 6.34 10.36 12.79 9.49 4.12 7.81 10.23 7.87 8.5
P/B 160.25 160.25 6.85 14.34 11.71 31.93 0.00 37.00 24.44 91.68 89.57 53.8
EV/Sales 8.61 8.61 7.63 6.70 10.21 12.95 10.29 5.15 8.72 11.14 8.73 9.0
EV/FCF (12.56) (12.56) (11.78) (15.89) (63.19) (47.27) (19.14) (7.52) (19.55) (40.82) (51.67) (25.0)
Cash, $m
Cash, $m Operating cash flow (14) (32) (34) (30) (13) (28) (52) (89) (59) (51) (32) +15.2%
Capex (11) (1) (2) (8) (1) (7) (35) (25) (16) (7) (9) (4.9%)
Free cash flow (25) (33) (36) (38) (14) (35) (87) (113) (74) (58) (42) +9.8%
Balance, $m
Balance, $m Working capital (42) (18) 83 73 106 81 111 118 175 168 183 n/m
Net debt 21 (10) (30) 10 (35) (2) 109 149 129 172 191 +26.4%
Shareholders’ equity (26) (5) 69 40 75 51 (8) 18 53 24 22 n/m
Returns, %
Returns, % ROA (51.14) (80.54) (24.30) (32.73) (27.94) (27.80) (42.90) (32.73) (27.49) (14.51) (11.41) +36.6 pt
ROIC 0.00 0.00 (38.08) (38.60) (43.33) (31.92) (24.56) (24.32) (17.14) (12.47) (5.53) (12.5) pt
ROE 140.92 221.93 (65.45) (69.94) (66.54) (65.46) (353.48) (1,537.75) (236.67) (133.25) (175.30) (274.2) pt
People
People Employees — 397 505 602 521 746 958 908 1,018 1,004 — +12.3%
Revenue/emp, $m 0.00 0.09 0.12 0.15 0.16 0.17 0.17 0.18 0.16 0.21 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Establishment Labs Holdings Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NEOG Neogen Corporation $2.6B — (loss-making) — (loss-making) +6.50% (above 0%: growing) n/m +135.61% (above 0%: growing) 47.35% (0.81%) Compare
TMDX TransMedics Group, Inc. $2.4B 16.4× 49.4× +41.15% (above 0%: growing) −30.99% (below 0%: shrinking) −55.44% (below 0%: shrinking) 58.45% 13.86% Compare
UFPT UFP Technologies, Inc. $2.3B 30.1× 29.2× +11.57% (above 0%: growing) +25.55% (above 0%: growing) −35.77% (below 0%: shrinking) 29.44% 16.01% Compare
INSP Inspire Medical Systems, Inc. $1.9B 19.1× — (loss-making) −7.93% (below 0%: shrinking) n/m −33.06% (below 0%: shrinking) 86.05% (13.89%) Compare
ESTA Establishment Labs Holdings Inc. $1.9B — (loss-making) — (loss-making) +31.66% (above 0%: growing) n/m +2.75% (above 0%: growing) 70.64% (6.35%)
ALMR Alamar Biosciences, Inc. $1.9B — (loss-making) — (loss-making) +156.24% (above 0%: growing) n/m −20.26% (below 0%: shrinking) 61.54% (45.13%) Compare
BFLY Butterfly Network, Inc. $1.6B — (loss-making) — (loss-making) +51.70% (above 0%: growing) n/m +12.61% (above 0%: growing) 73.02% (41.66%) Compare
NVCR NovoCure Limited $1.6B — (loss-making) — (loss-making) +15.67% (above 0%: growing) n/m +5.54% (above 0%: growing) 76.98% (3.19%) Compare
CNMD CONMED Corporation $1.6B 21.7× 11.7× −0.70% (below 0%: shrinking) +635.00% (above 0%: growing) −3.65% (below 0%: shrinking) 56.37% 11.07% Compare
Median of peers $1.9B 20.4× 29.2× +13.62% +25.55% −11.95% 60.00% (2.00%)

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 10 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2024 2.60m 7.27m 167.00
2023 2.42m 304.12k 94.00
2022 2.58m 5.60m 237.00
2021 2.28m 5.86m 244.00

Ownership

Directors and executive officers, together 9.99%
JW Partners, LP 10.42%
RTW Investments, LP 9.60%
Qatar Investment Authority 8.14%
Brown Advisory Incorporated 6.94%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Establishment Labs Holdings Inc. (ESTA) Latest News

29 Oct

Impact 4 · · Moby transcript
Impact 4 · · MarketBeat
Impact 4 · · Business Wire
Impact 3 · · Zacks

22 Oct

Impact 4 · · Zacks

19 Oct

Impact 3 · · Business Wire

7 Oct

Impact 4 · · Simply Wall St.

5 Oct

Impact 4 · · Business Wire

23 Sep

Impact 4 · · Insider Monkey

21 Sep

Impact 4 · · Business Wire

6 Aug

Impact 4 · transcript
Impact 3 · · MarketBeat
Impact 3 ·

8 May

Impact 3 · · Simply Wall St.

7 May

Impact 4 · · GuruFocus.com
Impact 4 · · Moby

6 May

Impact 4 · · MarketBeat
Impact 4 · · Business Wire
Impact 3 · · Zacks

3 May

Impact 4 · · Simply Wall St.

30 Apr

Impact 4 · · Business Wire

7 Apr

Impact 4 · · Business Wire

1 Apr

Impact 3 · · Simply Wall St.

25 Mar

Impact 4 · · Insider Monkey

2 Mar

Impact 3 · · Insider Monkey

25 Feb

Impact 4 ·
Impact 4 · · Simply Wall St.

24 Feb

Impact 4 · · Moby
Impact 4 · · MarketBeat
Impact 3 · · Zacks
stockrow.com/ESTA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com