MiniMed Group, Inc. (MMED) vs Envista Holdings Corporation (NVST)

MiniMed Group, Inc. and Envista Holdings Corporation are both Medical Instruments & Supplies companies. MiniMed Group, Inc. is the larger, with a market value of $5.1B against $4.0B — 1.3× the size. MiniMed Group, Inc. has negative trailing earnings, so its P/E is not meaningful; Envista Holdings Corporation trades at 6.4×. Envista Holdings Corporation has the higher net margin (22.0% vs −4.86%) and the higher return on invested capital (13.6% vs −1.61%). Across the 16 metrics below, Envista Holdings Corporation leads on 15 and MiniMed Group, Inc. on 1.

Valuation

Metric MMED NVST Medical Instruments & Supplies median
P/E n/m 6.36 30.28
P/S 1.68 1.40 2.49
P/B 1.42 1.30 2.34
Price to free cash flow n/m 16.42 23.49
EV/EBITDA n/m 10.27 14.87
EV/Sales 1.62 1.53 2.75
Earnings yield (3.24%) 15.73% 0.00%
Free cash flow yield (8.82%) 6.09% 0.59%

Profitability

Metric MMED NVST Medical Instruments & Supplies median
Gross margin 53.60% 55.88% 53.60%
Operating margin (2.89%) 25.41% 1.97%
Net margin (4.86%) 22.01% 0.00%
Free cash flow margin (14.85%) 8.50% 2.36%
Return on equity 0.00% 20.52% 0.00%
Return on assets (6.27%) 11.26% 0.00%
Return on invested capital (1.61%) 13.61% 0.13%

Growth

Metric MMED NVST Medical Instruments & Supplies median
Revenue growth (TTM) — 9.78% 8.97%
EPS growth (last fiscal year) (53.57%) 104.31% 6.51%
Revenue growth, 5-year CAGR — 7.11% 8.85%
Net income growth, 5-year CAGR — 7.13% 0.00%

Health

Metric MMED NVST Medical Instruments & Supplies median
Debt to equity 0.00 0.46 0.10
Current ratio 1.81 2.45 2.47
Net debt to EBITDA 8.76 0.64 0.97

Dividend

Metric MMED NVST Medical Instruments & Supplies median
Dividend yield — — 1.02%
Payout ratio — — 0.27

Size

Metric MMED NVST Medical Instruments & Supplies median
Market cap 5.11b 4.01b 1.71b

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