Bausch + Lomb Corporation (BLCO) vs Envista Holdings Corporation (NVST)

Bausch + Lomb Corporation and Envista Holdings Corporation are both Medical Instruments & Supplies companies. Bausch + Lomb Corporation is the larger, with a market value of $6.0B against $3.9B — 1.6× the size. Bausch + Lomb Corporation has negative trailing earnings, so its P/E is not meaningful; Envista Holdings Corporation trades at 40.6×. Envista Holdings Corporation grew revenue faster over the last twelve months: 11.9% against 8.85%. Envista Holdings Corporation has the higher net margin (3.33% vs −3.21%) and the higher return on invested capital (5.05% vs 1.81%). Across the 21 metrics below, Envista Holdings Corporation leads on 17 and Bausch + Lomb Corporation on 4.

Valuation

Metric BLCO NVST Medical Instruments & Supplies median
P/E n/m 40.59 34.17
P/S 1.13 1.36 2.83
P/B 0.94 1.26 2.82
Price to free cash flow 53.95 15.57 25.69
EV/EBITDA 14.39 10.04 16.08
EV/Sales 2.02 1.51 3.06
Earnings yield (2.84%) 2.46% (1.84%)
Free cash flow yield 1.85% 6.42% 0.17%

Profitability

Metric BLCO NVST Medical Instruments & Supplies median
Gross margin 61.44% 55.24% 54.62%
Operating margin 6.07% 9.58% 1.64%
Net margin (3.21%) 3.33% 0.00%
Free cash flow margin 2.57% 8.72% 1.61%
Return on equity (2.64%) 3.06% 0.00%
Return on assets (1.24%) 1.69% 0.00%
Return on invested capital 1.81% 5.05% 0.00%

Growth

Metric BLCO NVST Medical Instruments & Supplies median
Revenue growth (TTM) 8.85% 11.89% 9.20%
EPS growth (last fiscal year) (13.33%) 104.31% —
Revenue growth, 5-year CAGR 8.38% 7.11% 9.48%
Net income growth, 5-year CAGR 0.00% 7.13% 0.00%

Health

Metric BLCO NVST Medical Instruments & Supplies median
Debt to equity 0.79 0.47 0.08
Current ratio 1.55 2.43 2.49
Net debt to EBITDA 8.49 0.64 0.83

Dividend

Metric BLCO NVST Medical Instruments & Supplies median
Dividend yield — — 0.99%
Payout ratio — 0.00 0.00

Size

Metric BLCO NVST Medical Instruments & Supplies median
Market cap 6.00b 3.87b 938.39m

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