Azenta, Inc. (AZTA) vs Envista Holdings Corporation (NVST)

Azenta, Inc. and Envista Holdings Corporation are both Medical Instruments & Supplies companies. Envista Holdings Corporation is the larger, with a market value of $3.8B against $1.6B — 2.4× the size. Azenta, Inc. has negative trailing earnings, so its P/E is not meaningful; Envista Holdings Corporation trades at 38.8×. Envista Holdings Corporation grew revenue faster over the last twelve months: 11.9% against 4.80%. Envista Holdings Corporation has the higher net margin (3.33% vs −20.0%) and the higher return on invested capital (5.05% vs −9.27%). Across the 21 metrics below, Envista Holdings Corporation leads on 16 and Azenta, Inc. on 5.

Valuation

Metric AZTA NVST Medical Instruments & Supplies median
P/E n/m 38.81 33.75
P/S 2.52 1.30 2.52
P/B 1.02 1.21 2.48
Price to free cash flow 156.24 14.89 25.19
EV/EBITDA 45.05 9.64 14.62
EV/Sales 2.06 1.45 2.88
Earnings yield (8.07%) 2.58% (2.67%)
Free cash flow yield 0.64% 6.72% 0.09%

Profitability

Metric AZTA NVST Medical Instruments & Supplies median
Gross margin 44.05% 55.24% 54.29%
Operating margin (28.56%) 9.58% 1.07%
Net margin (20.02%) 3.33% (1.61%)
Free cash flow margin 1.61% 8.72% 1.08%
Return on equity (7.72%) 3.06% (1.32%)
Return on assets (6.31%) 1.69% 0.00%
Return on invested capital (9.27%) 5.05% 0.00%

Growth

Metric AZTA NVST Medical Instruments & Supplies median
Revenue growth (TTM) 4.80% 11.89% 8.85%
EPS growth (last fiscal year) 57.93% 104.31% 8.65%
Revenue growth, 5-year CAGR 8.85% 7.11% 9.17%
Net income growth, 5-year CAGR 0.00% 7.13% 0.00%

Health

Metric AZTA NVST Medical Instruments & Supplies median
Debt to equity 0.00 0.47 0.10
Current ratio 2.50 2.43 2.48
Net debt to EBITDA (10.47) 0.64 0.89

Dividend

Metric AZTA NVST Medical Instruments & Supplies median
Dividend yield — — 1.11%
Payout ratio — — 0.27

Size

Metric AZTA NVST Medical Instruments & Supplies median
Market cap 1.60b 3.77b 619.84m

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