Enovis (ENOV) AI Stock Analysis

• Market Cap: $1.25B
• Dividend Yield: N/A
• Average Volume (3M): 1.09M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.44
• Revenue Growth: 11.57%
• EPS Growth: -1016.39%
• Country: US
• Employees: 7,367
• Sector: Healthcare
• Sector Strength: 45
• Industry: Industrial - Machinery
• EPS (TTM): 0.95
• Shares Outstanding: 57,245,132
• 10 Day Avg. Volume: 1,027,248
• 30 Day Avg. Volume: 1,094,180
• PEG Ratio: -0.03
• Price to Book (P/B): 1.02
• Price to Sales (P/S): 0.67
• P/FCF Ratio: 75.96
• Enterprise Value/Market Cap: 2.07
• Enterprise Value/Revenue: 1.15
• Enterprise Value/Gross Profit: 1.93
• Enterprise Value/Ebitda: -3.15
• 1Y Price Target: $45.83
• Price Target Upside: 109.75% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 3.52
• Revenue Forecast (FY): $2.34B

• Rating: 52 Neutral
• Price Target: $22.00 ▲(0.69% Upside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

Score is held back primarily by weak recent profitability (large losses/very negative ROE) despite strong revenue growth, plus a technically soft chart. Offsetting factors include improved cash flow versus 2024, lower leverage, and constructive 2026 guidance for growth, earnings, and cash conversion; valuation support is limited due to the negative P/E and no dividend.

Positive Factors

Revenue Growth Momentum

Enovis has sustained top-line expansion across years, driven by both Recon and P&R end markets. Multi-year revenue momentum supports scale economics, broader distribution and pricing leverage, increasing the durability of cash generation as core procedure volumes and at-home recovery trends persist.

Recon Segment & Product Innovation

Frequent 510(k) clearances and recent device launches signal an active innovation pipeline that wins share from competitors. Strong Recon adoption, including competitive conversions, underpins durable surgeon preference and supports higher-margin implant sales and upsell opportunities across global joint reconstruction markets.

Improved Cash Flow & Balance Sheet

A return to positive free cash flow and materially lower leverage provide financial flexibility for integration, R&D and reinvestment. Improved interest expense and a refinanced term loan reduce refinancing risk and support the company's ability to fund growth without relying on dilutive capital in the medium term.

Negative Factors

Material Goodwill Impairment

A $501M goodwill write‑down signals prior overpayment or weaker forward cash expectations for acquired assets and reduces tangible equity, amplifying return volatility. It also reflects persistent integration/strategy risk that can constrain investor confidence and long‑term ROE recovery despite noncash status.

Weak Reported Profitability

Despite robust revenue, large reported losses and a very negative ROE indicate current capital is not generating returns. This undermines earnings quality and raises questions about sustainable operating leverage and the timing of margin recovery versus ongoing investment and integration costs.

Integration & Investment Drag

Planned additional integration and R&D spending will likely constrain near-term margin expansion and free cash flow conversion. Prolonged investment drag increases execution risk and delays realization of synergies, making multi-year recovery dependent on flawless integration and commercialization execution.

Enovis Business Overview & Revenue Model

Company Description

Enovis Corporation operates as a medical technology company worldwide. It develops, manufactures, and distributes medical device products used by orthopedic specialists, surgeons, primary care physicians, pain management specialists, physical therapists, podiatrists, chiropractors, athletic trainers, and other healthcare professionals to treat patients with musculoskeletal conditions resulting from degenerative diseases, deformities, traumatic events, and sports related injuries. It offers rigid and soft orthopedic bracings, hot and cold therapy products, bone growth stimulators, vascular therapy systems and compression garments, therapeutic shoes and inserts, electrical stimulators used for pain management, and physical therapy products; and a suite of reconstructive joint products for the hip, knee, shoulder, elbow, foot, ankle, and finger. Enovis Corporation sells its products through independent distributors, such as healthcare professionals, consumer retail stores, and pharmacies; and directly under the DJO brand. The company was formerly known as Colfax Corporation. Enovis Corporation is headquartered in Wilmington, Delaware.

How the Company Makes Money

Enovis makes money primarily by selling medical devices and related solutions used across musculoskeletal care. Its key revenue streams include: (1) Prevention & Recovery product sales—revenue from orthopedic bracing/supports and rehabilitation-focused devices and consumables that are prescribed or used in clinical and at-home recovery workflows; revenue is generally recognized on product shipment/delivery through sales to providers, distributors, and other channel partners. (2) Reconstructive product sales—revenue from orthopedic implant systems and associated instrumentation used in surgical procedures; sales are driven by procedure volumes and surgeon/hospital adoption, typically supported by a specialized salesforce and, in some cases, local distribution partners. Across both segments, earnings are influenced by factors such as elective procedure demand (for reconstructive implants), post-injury and post-surgical recovery utilization (for prevention & recovery), product mix, pricing and reimbursement dynamics, and the company’s ability to expand distribution and win account/surgeon adoption. Information on specific significant partnerships is null.

Enovis Financial Statement Overview

Summary

Strong multi-year revenue growth and resilient gross margins, plus improved leverage and a return to positive free cash flow in 2025. However, profitability deteriorated sharply in 2024–2025 with very large losses and very negative ROE, and cash flow conversion remains uneven versus reported earnings.

Income Statement

Revenue growth has been strong in recent years (2025: +66%, 2024: +23%, 2023: +9%), and gross margin has held up well (~54%–60%), indicating solid pricing/product mix. However, profitability deteriorated sharply: net margin swung from near-breakeven in 2022–2023 to very large losses in 2024–2025 (2025 net margin about -53%), with EBIT/EBITDA also deeply negative. Overall, the top line is expanding, but the earnings profile is currently the key weakness and drives a low score.

Balance Sheet

Leverage improved materially by 2025, with debt-to-equity dropping to ~0.06 (from ~0.55 in 2024 and ~0.68 in 2020), which is a clear balance-sheet positive. That said, losses are pressuring returns, with return on equity turning very negative in 2024–2025 (2025 ROE about -80%), suggesting the capital base is not currently generating profits. Net: balance-sheet leverage looks conservative in the latest year, but profitability-related strain remains a meaningful risk.

Cash Flow

Cash generation improved versus 2024: operating cash flow rose to ~$217M in 2025 (from ~$114M in 2024), and free cash flow turned positive (~$20M) after a negative 2024 (~-$67M). Still, free cash flow growth is negative in 2024–2025 and cash flow does not strongly cover reported losses (cash flow relative to net income is low in 2025), indicating earnings quality and conversion remain uneven. Overall, liquidity looks better than last year, but consistency is a concern.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.25B	2.11B	1.71B	1.56B	1.43B
Gross Profit	1.35B	1.18B	990.78M	869.38M	777.67M
EBITDA	-830.22M	-481.03M	169.73M	241.69M	170.25M
Net Income	-1.18B	-825.49M	-33.26M	-13.29M	71.66M
Balance Sheet
Total Assets	3.83B	4.72B	4.51B	4.27B	8.52B
Cash, Cash Equivalents and Short-Term Investments	36.39M	48.17M	36.19M	24.30M	680.25M
Total Debt	1.38B	1.40B	536.42M	334.82M	2.16B
Total Liabilities	2.34B	2.15B	1.09B	823.45M	3.85B
Stockholders Equity	1.49B	2.56B	3.42B	3.45B	4.62B
Cash Flow
Free Cash Flow	19.92M	-67.21M	12.77M	-161.31M	251.86M
Operating Cash Flow	217.29M	113.50M	134.99M	-55.86M	356.10M
Investing Cash Flow	-179.37M	-955.47M	-242.47M	-176.39M	-320.48M
Financing Cash Flow	-52.40M	846.82M	127.80M	-465.13M	584.91M

Enovis Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 21.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ENOV, the sentiment is Negative. The current price of 21.85 is below the 20-day moving average (MA) of 23.90, below the 50-day MA of 23.52, and below the 200-day MA of 28.45, indicating a bearish trend. The MACD of -0.26 indicates Positive momentum. The RSI at 39.06 is Neutral, neither overbought nor oversold. The STOCH value of 14.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ENOV.

Enovis Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EPAC	75 Outperform	$1.90B	25.78	21.10%	0.10%	3.91%	1.48%
SXI	68 Neutral	$3.05B	308.57	7.68%	0.57%	18.51%	-28.69%
HLIO	67 Neutral	$2.09B	37.53	3.75%	0.64%	-1.46%	-10.03%
ENOV	52 Neutral	$1.25B	-0.73	-54.42%	―	11.57%	-1016.39%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
XMTR	50 Neutral	$2.03B	―	-21.90%	―	22.40%	-18.99%

Enovis Corporate Events

Enovis to Present at J.P. Morgan Healthcare Conference

Enovis Corporation announced that its management team would present at the 44th Annual J.P. Morgan Healthcare Conference on Monday, January 12, 2026, at 4:30 p.m. PST (7:30 p.m. EST). The company made the presentation accessible to investors and other stakeholders via a live webcast on its website, with a replay and accompanying presentation materials also made available online later that day, underscoring Enovis’s ongoing investor-relations outreach and engagement with the healthcare investment community.

The most recent analyst rating on (ENOV) stock is a Buy with a $41.00 price target. To see the full list of analyst forecasts on Enovis stock, see the ENOV Stock Forecast page.