Saturday 17 October 2026 Export ESTA’s income statement to Excel — free account

Establishment Labs Holdings Inc.

Establishment Labs Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $211.1 million, up 27.1% from fiscal 2024. In the quarter to June 2026, revenue grew 31.7%, EPS grew 31.6%, free cash flow grew 2.75% and total debt rose 18.3%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

59.18 2.18 −3.55%

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Market cap: $1.8B
P/E: 0.0×
Fwd P/E: −64.7×
Dividend yield: —
F-score: 5/9
Altman Z: 2.73
Beneish M: −2.30
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 36.89

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	3	—	—	—	2	2	5	—	—	—	—	—

Insider Ownership 9.14%

Capital & Financial Ratios $m

Market Cap 1,830.00

Revenue 245.82

Net Income (38.89)

Free Cash Flow (41.55)

Net Debt 190.55

Current Ratio 3.84

Debt/Equity 12.11

P/E ratio 0.00

Fwd P/E (64.70)

P/S ratio 7.25

P/B ratio 82.50

Past 5Y EPS Growth —

This Y EPS Growth 30.93%

Next Y EPS Growth 98.41%

Next Y revenue growth 28.01%

Next 5Y EPS Growth 73.44%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 33.38%

10-year low 10-year high

P/B against its own 10 years 79.23%

10-year low 10-year high

EV/Sales against its own 10 years 39.32%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack
2017	Powerpack

special payouts not included in total or ratios

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%

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.

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	20.05	16.55	7.56	35.10	44.03	16.96	24.42	26.56	Analyst estimates 2026–2028 Powerpack
	High	—	—	30.71	30.06	37.88	88.66	93.80	79.88	60.12	78.24
People
People	Employees	—	397	505	602	521	746	958	908	1,018	1,004
	Revenue/emp, $m	0.00	0.09	0.12	0.15	0.16	0.17	0.17	0.18	0.16	0.21
Income, $m
Income, $m	Revenue	20	35	61	90	85	127	162	165	166	211
	Gross margin, %	50.99	51.04	59.01	61.25	62.00	67.42	65.92	64.78	65.97	69.32
	EBT	(22)	(35)	(21)	(38)	(38)	(40)	(73)	(79)	(85)	(58)
	EBT margin, %	(111.23)	(100.32)	(34.12)	(41.88)	(44.90)	(31.35)	(45.04)	(47.58)	(50.97)	(27.49)
	Net income	(22)	(35)	(21)	(38)	(38)	(41)	(75)	(79)	(85)	(51)
	Depreciation	1	2	3	3	5	6	4	5	8	10
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
	Earnings	(3.42)	(3.41)	(1.22)	(1.86)	(1.63)	(1.72)	(3.08)	(3.07)	(3.00)	(1.72)
	Cash flow	(2.20)	(3.12)	(1.95)	(1.46)	(0.54)	(1.15)	(2.13)	(3.46)	(2.08)	(1.72)
	Capex	(1.63)	(0.09)	(0.10)	(0.38)	(0.05)	(0.30)	(1.42)	(0.96)	(0.55)	(0.23)
	Free cash flow	(3.83)	(3.22)	(2.06)	(1.84)	(0.59)	(1.45)	(3.56)	(4.42)	(2.63)	(1.94)
	Book value	(4.08)	(0.49)	4.00	1.93	3.22	2.12	(0.33)	0.72	1.89	0.80
	Shares, m	6	10	17	21	23	24	24	26	28	30
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	7.97	7.97	7.77	6.34	10.36	12.79	9.49	4.12	7.81	10.23
	P/B	160.25	160.25	6.85	14.34	11.71	31.93	0.00	37.00	24.44	91.68
	EV/Sales	8.61	8.61	7.63	6.70	10.21	12.95	10.29	5.15	8.72	11.14
	EV/FCF	(12.56)	(12.56)	(11.78)	(15.89)	(63.19)	(47.27)	(19.14)	(7.52)	(19.55)	(40.82)
Cash, $m
Cash, $m	Operating cash flow	(14)	(32)	(34)	(30)	(13)	(28)	(52)	(89)	(59)	(51)
	Capex	(11)	(1)	(2)	(8)	(1)	(7)	(35)	(25)	(16)	(7)
	Free cash flow	(25)	(33)	(36)	(38)	(14)	(35)	(87)	(113)	(74)	(58)
Balance, $m
Balance, $m	Working capital	(42)	(18)	83	73	106	81	111	118	175	168
	Total debt	21	1	22	48	50	52	175	189	220	248
	Net debt	21	(10)	(30)	10	(35)	(2)	109	149	129	172
	Shareholders’ equity	(26)	(5)	69	40	75	51	(8)	18	53	24
Returns, %
Returns, %	ROA	(51.14)	(80.54)	(24.30)	(32.73)	(27.94)	(27.80)	(42.90)	(32.73)	(27.49)	(14.51)
	ROIC	0.00	0.00	(38.08)	(38.60)	(43.33)	(31.92)	(24.56)	(24.32)	(17.14)	(12.47)
	ROE	140.92	221.93	(65.45)	(69.94)	(66.54)	(65.46)	(353.48)	(1,537.75)	(236.67)	(133.25)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TMDX TransMedics Group, Inc.	$2.7B	16.0×	34.1×	+20.70% (above 0%: growing)	−59.22% (below 0%: shrinking)	−87.62% (below 0%: shrinking)	59.59%	12.50%	Compare
UFPT UFP Technologies, Inc.	$2.3B	31.2×	23.6×	+15.07% (above 0%: growing)	+20.63% (above 0%: growing)	−35.77% (below 0%: shrinking)	29.27%	16.15%	Compare
BFLY Butterfly Network, Inc.	$2.1B	— (loss-making)	— (loss-making)	+39.47% (above 0%: growing)	n/m	−113.85% (below 0%: shrinking)	71.41%	(41.90%)	Compare
AXGN AxoGen, Inc.	$2.1B	— (loss-making)	— (loss-making)	+23.06% (above 0%: growing)	n/m	−17.36% (below 0%: shrinking)	72.67%	(3.09%)	Compare
INSP Inspire Medical Systems, Inc.	$2.0B	14.8×	93.5×	−7.60% (below 0%: shrinking)	n/m	+322.84% (above 0%: growing)	85.48%	(0.26%)	Compare
ESTA Establishment Labs Holdings Inc.	$1.8B	— (loss-making)	— (loss-making)	+31.66% (above 0%: growing)	n/m	+2.75% (above 0%: growing)	70.64%	(6.35%)
ATEC Alphatec Holdings, Inc.	$1.7B	— (loss-making)	— (loss-making)	+15.07% (above 0%: growing)	n/m	−146.87% (below 0%: shrinking)	72.17%	(0.89%)	Compare
NVCR NovoCure Limited	$1.7B	— (loss-making)	— (loss-making)	+15.60% (above 0%: growing)	n/m	+105.68% (above 0%: growing)	77.61%	(5.75%)	Compare
CNMD CONMED Corporation	$1.4B	25.3×	8.8×	+0.33% (above 0%: growing)	+11.59% (above 0%: growing)	+45.96% (above 0%: growing)	57.49%	10.60%	Compare
Median of peers	$2.1B	20.6×	28.9×	+15.34%	+11.59%	−26.56%	71.79%	(0.57%)

All 149 Medical Devices stocks →

Establishment Labs Holdings Inc. (ESTA) key facts

Concern: Establishment Labs Holdings Inc. reported a net loss of $51.1 million, or a loss of $1.72 per share, for fiscal 2025.
Strength: Establishment Labs Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $211.1 million, up 27.1% from fiscal 2024.
Establishment Labs Holdings Inc. (ESTA) is a Medical Devices company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, ESTA traded at $59.18, a market capitalization of $1.8 billion.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 7.3× sales.
Return on equity was −133.3% and debt-to-equity 12.11.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.73 (grey zone) for fiscal 2025.