Envista Holdings Corporation (NVST) vs DENTSPLY SIRONA Inc. (XRAY)

Envista Holdings Corporation and DENTSPLY SIRONA Inc. are both Medical Instruments & Supplies companies. Envista Holdings Corporation is the larger, with a market value of $3.8B against $1.8B — 2.1× the size. DENTSPLY SIRONA 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 −0.76%. Envista Holdings Corporation has the higher net margin (3.33% vs −15.0%) and the higher return on invested capital (5.05% vs −6.23%). Across the 21 metrics below, Envista Holdings Corporation leads on 16 and DENTSPLY SIRONA Inc. on 5.

Valuation

Metric NVST XRAY Medical Instruments & Supplies median
P/E 38.81 n/m 33.75
P/S 1.30 0.47 2.52
P/B 1.21 1.27 2.48
Price to free cash flow 14.89 12.05 25.19
EV/EBITDA 9.64 8.50 14.62
EV/Sales 1.45 0.95 2.88
Earnings yield 2.58% (32.09%) (2.67%)
Free cash flow yield 6.72% 8.30% 0.09%

Profitability

Metric NVST XRAY Medical Instruments & Supplies median
Gross margin 55.24% 49.52% 54.29%
Operating margin 9.58% (8.51%) 1.07%
Net margin 3.33% (14.99%) (1.61%)
Free cash flow margin 8.72% 4.04% 1.08%
Return on equity 3.06% (32.97%) (1.32%)
Return on assets 1.69% (9.69%) 0.00%
Return on invested capital 5.05% (6.23%) 0.00%

Growth

Metric NVST XRAY Medical Instruments & Supplies median
Revenue growth (TTM) 11.89% (0.76%) 8.85%
EPS growth (last fiscal year) 104.31% 33.04% 8.65%
Revenue growth, 5-year CAGR 7.11% 1.96% 9.17%
Net income growth, 5-year CAGR 7.13% 0.00% 0.00%

Health

Metric NVST XRAY Medical Instruments & Supplies median
Debt to equity 0.47 1.48 0.10
Current ratio 2.43 1.63 2.48
Net debt to EBITDA 0.64 3.71 0.89

Dividend

Metric NVST XRAY Medical Instruments & Supplies median
Dividend yield — 1.87% 1.11%
Payout ratio — — 0.27

Size

Metric NVST XRAY Medical Instruments & Supplies median
Market cap 3.77b 1.76b 619.84m

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