Envista Holdings Corporation
NVST Healthcare Medical Instruments & Supplies
Envista Holdings Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, up 8.32% from fiscal 2024. In the quarter to June 2026, revenue grew 7.10%, EPS grew 106.3%, free cash flow grew 37.6% and total debt was flat, each against the same quarter a year earlier.
Follow NVST
Envista Holdings Corporation (NVST) Altman Z-score
Envista Holdings Corporation's Altman Z-score for fiscal 2025 is 1.59, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.59 | 0.86 |
| FY2024 | 0.73 | (0.97) |
| FY2023 | 1.70 | (0.42) |
| FY2022 | 2.12 | (0.36) |
| FY2021 | 2.48 | 1.15 |
| FY2020 | 1.33 | (0.17) |
| FY2019 | 1.50 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.21 | — | 0.25 | |
| Retained earnings / total assets | (0.08) | — | −0.11 | |
| EBIT / total assets | 0.04 | — | 0.13 | |
| Market value of equity / total liabilities | 1.42 | — | 0.85 | |
| Sales / total assets | 0.48 | — | 0.48 | |
| Altman Z-score | Distress zone | 1.59 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 2.63 | ||
Z and Z″ put Envista Holdings Corporation in different zones: distress zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| PLSE Pulse Biosciences, Inc compare | 31.4× |
| ATRC AtriCure, Inc. compare | 7.3× |
| WRBY Warby Parker Inc. compare | 4.7× |
| STVN Stevanato Group S.p.A. compare | 4.5× |
| MMSI Merit Medical Systems, Inc. compare | 4.4× |
| ICUI ICU Medical, Inc. compare | 2.1× |
| TFX Teleflex Incorporated compare | 2.0× |
| NVST Envista Holdings Corporation | 1.6× |
| BLCO Bausch + Lomb Corporation compare | 0.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets