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 $3.8B — 1.6× the size. Bausch + Lomb Corporation 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 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 38.81 33.75
P/S 1.10 1.30 2.52
P/B 0.91 1.21 2.48
Price to free cash flow 52.29 14.89 25.19
EV/EBITDA 14.14 9.64 14.62
EV/Sales 1.99 1.45 2.88
Earnings yield (2.93%) 2.58% (2.67%)
Free cash flow yield 1.91% 6.72% 0.09%

Profitability

Metric BLCO NVST Medical Instruments & Supplies median
Gross margin 61.44% 55.24% 54.29%
Operating margin 6.07% 9.58% 1.07%
Net margin (3.21%) 3.33% (1.61%)
Free cash flow margin 2.57% 8.72% 1.08%
Return on equity (2.64%) 3.06% (1.32%)
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% 8.85%
EPS growth (last fiscal year) (13.33%) 104.31% 8.65%
Revenue growth, 5-year CAGR 8.38% 7.11% 9.17%
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 0.10
Current ratio 1.55 2.43 2.48
Net debt to EBITDA 8.49 0.64 0.89

Dividend

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

Size

Metric BLCO NVST Medical Instruments & Supplies median
Market cap 5.95b 3.77b 619.84m

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