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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.

22.90 0.60 −2.55%
Market cap
$3.8B
P/E
38.8×
Fwd P/E
24.4×
Dividend yield
—
F-score
7/9
Altman Z
1.59
Beneish M
−2.50
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 0.51
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 1 — — — — — 1 — —
Insider Ownership 3.11%

Capital & Financial Ratios $m

Market Cap 3,770.00
Revenue 2,856.50
Net Income 95.00
Free Cash Flow 249.00
Net Debt 310.70
Current Ratio 2.43 (at or above 1.5: strong)
Debt/Equity 0.47 (at or below 0.5: strong)
P/E ratio 38.81 (above 35: high)
Fwd P/E 24.40
P/S ratio 1.30
P/B ratio 1.21
Past 5Y EPS Growth 6.96%
This Y EPS Growth 28.63% (at or above 15%: strong)
Next Y EPS Growth 8.49%
Next Y revenue growth 5.79%
Next 5Y EPS Growth 14.95%

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.4×, against a ten-year median of 2.0×; over the ten years it ranged from 1.2× in 2025 to 3.9× in 2021.
P/E against its own 10 years 61.95%
10-year low 10-year high
P/S against its own 10 years 15.86%
10-year low 10-year high
P/B against its own 10 years 46.40%
10-year low 10-year high
EV/Sales against its own 10 years 12.13%
10-year low 10-year high
EV/FCF against its own 10 years 34.10%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2018 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 940 1,069 1,212 1,126
Receivables 408 363 430 437
Inventory 259 241 288 291
Other — — — —
1,744 1,788 2,027 1,958
2023 2024 2025 Q'26
Payables 180 175 192 190
ST’ Debt 115 116 — —
Other — — — —
781 879 853 807

Compound Annual Growth %

10y 5y 3y
Sales — 7.11% 1.91%
Cash Flow — (0.58%) 14.70%
Earnings — 7.13% (42.18%)
Book Value — (3.55%) (9.62%)

Revenue $m

Mar Jun Sep Dec Year
’26 706 731 — — —
’25 617 682 670 751 2,720
’24 624 633 601 653 2,511
’23 627 662 631 646 2,567
’22 631 646 631 661 2,569
’21 613 637 607 652 2,509
’20 547 362 547 473 1,929
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 119 — — —
’25 0 89 79 108 276
’24 40 93 71 132 337
’23 3 75 96 102 276
’22 4 22 47 110 183
’21 17 121 88 136 362
’20 (62) 5 148 193 284
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (16) 105 — — —
’25 (5) 76 68 92 231
’24 29 86 63 124 303
’23 (14) 61 77 100 224
’22 (16) 10 21 95 110
’21 8 101 82 127 319
’20 (76) (3) 135 186 242
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.23 0.33 — — —
’25 0.10 0.16 (0.18) 0.20 0.28
’24 0.14 (6.69) 0.05 0.01 (6.50)
’23 0.25 0.29 0.12 (1.27) (0.60)
’22 0.42 0.26 0.27 0.42 1.37
’21 0.41 0.51 0.52 0.48 1.92
’20 (0.11) (0.59) 0.22 0.64 0.20
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — 25.65 10.08 32.14 31.67 20.00 15.15 14.22

Analyst estimates 2026–2028

Powerpack
High — — — 30.80 33.88 46.88 52.03 43.29 25.64 22.68
People
People Employees — — 12,800 12,500 12,400 11,200 12,700 12,800 12,300 12,000
Revenue/emp, $m 0.00 0.00 0.22 0.18 0.16 0.22 0.20 0.20 0.20 0.23
Income, $m
Income, $m Revenue 2,785 2,811 2,845 2,285 1,929 2,509 2,569 2,567 2,511 2,720
Gross margin, % 57.92 57.68 56.31 59.05 54.68 56.86 57.41 56.13 54.68 54.67
EBT 402 387 301 234 (20) 255 284 (55) (1,085) 177
EBT margin, % 14.43 13.76 10.59 10.23 (1.04) 10.14 11.05 (2.14) (43.20) 6.52
Net income 272 301 231 218 33 341 243 (100) (1,119) 47
Depreciation 127 121 130 168 177 175 166 167 159 155
Per share, $
Per share, $ Revenue 17.52 21.98 22.24 16.78 12.09 15.56 15.77 15.38 14.58 16.19
Earnings 1.71 2.35 1.80 1.60 0.21 2.11 1.49 (0.60) (6.50) 0.28
Cash flow 2.62 2.81 3.13 2.92 1.78 2.24 1.12 1.65 1.95 1.64
Capex 0.00 (0.38) (0.56) (0.56) (0.27) (0.27) (0.44) (0.31) (0.20) (0.27)
Free cash flow 2.62 2.43 2.56 2.36 1.51 1.98 0.68 1.34 1.76 1.37
Book value 0.00 0.00 37.74 26.01 23.31 25.17 25.83 25.01 17.04 18.49
Shares, m 159 128 128 136 160 161 163 167 172 168
Valuation, ×
Valuation, × P/E 5.52 5.52 5.52 18.44 168.65 21.25 22.79 0.00 0.00 77.54
P/S 0.00 0.00 0.00 1.77 2.79 2.90 2.15 1.57 1.32 1.34
P/B 0.74 0.74 0.74 1.14 1.45 1.79 1.32 0.96 1.13 1.17
EV/Sales 0.00 0.00 0.00 2.25 3.26 2.99 2.45 1.79 1.45 1.47
EV/FCF 8.96 8.96 8.96 16.03 26.04 23.57 57.17 20.55 12.04 17.32
Cash, $m
Cash, $m Operating cash flow 417 359 400 398 284 362 183 276 337 276
Capex (49) (49) (72) (76) (42) (43) (72) (52) (34) (45)
Free cash flow 417 310 328 321 242 319 110 224 303 231
Balance, $m
Balance, $m Working capital — 167 146 293 (94) 628 188 963 910 1,174
Total debt — — — 1,325 1,795 1,316 1,381 1,513 1,394 1,448
Net debt — — — 1,114 906 242 774 573 325 237
Shareholders’ equity — — 4,826 3,543 3,721 4,058 4,207 4,174 2,935 3,106
Returns, %
Returns, % ROA 0.00 5.09 7.90 3.63 0.51 5.06 3.69 (1.52) (18.71) 0.85
ROIC — 0.00 3.86 3.16 0.59 4.45 4.01 0.41 (19.90) 4.04
ROE 0.00 6.14 4.70 5.20 0.92 8.75 5.88 (2.39) (31.47) 1.56
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Envista Holdings Corporation vs peers in Medical Instruments & Supplies (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
BLCO Bausch + Lomb Corporation $6.0B — (loss-making) — (loss-making) +9.08% (above 0%: growing) n/m +251.85% (above 0%: growing) 62.20% 5.95% Compare
TFX Teleflex Incorporated $5.4B — (loss-making) 45.3× +28.88% (above 0%: growing) −17.33% (below 0%: shrinking) +220.14% (above 0%: growing) 58.16% 12.77% Compare
MMSI Merit Medical Systems, Inc. $5.4B 36.4× 23.4× +9.51% (above 0%: growing) +18.18% (above 0%: growing) −25.66% (below 0%: shrinking) 51.37% 14.42% Compare
STVN Stevanato Group S.p.A. $5.3B 33.8× 27.5× +10.46% (above 0%: growing) −25.00% (below 0%: shrinking) −167.02% (below 0%: shrinking) 28.75% 12.93% Compare
ICUI ICU Medical, Inc. $4.2B 136× 49.5× +0.51% (above 0%: growing) −46.85% (below 0%: shrinking) +655.98% (above 0%: growing) 42.61% 7.09% Compare
NVST Envista Holdings Corporation $3.8B 38.8× 24.4× +7.10% (above 0%: growing) +106.25% (above 0%: growing) +37.57% (above 0%: growing) 55.72% 10.99%
PLSE Pulse Biosciences, Inc $3.3B — (loss-making) — (loss-making) +4,922.22% (above 0%: growing) n/m −45.39% (below 0%: shrinking) 37.10% (5,823.04%) Compare
WRBY Warby Parker Inc. $3.0B 334× 122× +9.81% (above 0%: growing) n/m −71.75% (below 0%: shrinking) 57.94% 1.34% Compare
ATRC AtriCure, Inc. $2.9B 259× 591× +12.83% (above 0%: growing) n/m −2.79% (below 0%: shrinking) 77.23% 6.29% Compare
Median of peers $4.7B 136× 47.4× +10.14% −21.16% −14.22% 54.66% 6.69%

All 55 Medical Instruments & Supplies stocks →

Envista Holdings Corporation (NVST) key facts

  • Strength: Envista Holdings Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, up 8.32% from fiscal 2024.
  • Envista Holdings Corporation (NVST) is a Medical Instruments & Supplies company in the Healthcare sector, listed on the New York Stock Exchange.
  • Net income was $47.0 million, or $0.28 per share (basic), a net margin of 1.73%.
  • As of October 16, 2026, NVST traded at $22.90, a market capitalization of $3.8 billion.
  • At that price the stock trades at 38.8× trailing-twelve-month earnings and 1.3× sales; its P/E is higher than 62% of its own readings over the past ten years.
  • Return on equity was 1.56% and debt-to-equity 0.47.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 1.59 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/NVST · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com