Enovis (ENOV) AI Stock Analysis

• Market Cap: $1.48B
• Dividend Yield: N/A
• Average Volume (3M): 1.14M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.42
• 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: 1,358,568
• 30 Day Avg. Volume: 1,142,849
• 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: 1.04
• Enterprise Value/Revenue: 0.68
• Enterprise Value/Gross Profit: 1.14
• Enterprise Value/Ebitda: -1.86
• 1Y Price Target: $45.71
• Price Target Upside: 77.24% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 3.52
• Revenue Forecast (FY): $2.34B

• Rating: 52 Neutral
• Price Target: $26.00 ▲(0.81% 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

Organic Revenue Growth

Consistent multi-segment organic growth (6% overall, stronger Recon at 8%) shows durable demand across reconstructive and recovery franchises. Diversified procedure- and rehab-driven revenue reduces single-market exposure and supports sustained top-line expansion and surgeon adoption over coming quarters.

Gross Margin Resilience

Sustained high gross margins (~61%) indicate durable pricing power and favorable product mix in implants and consumables. Strong gross margin provides structural support for operating profit as SG&A and integration spending normalize, improving long-term cash generation potential even during investment phases.

Improving Cash Flow & Deleveraging

Material improvement in operating cash flow and a return to positive FCF with lower net leverage materially enhance financial flexibility. Reduced interest burden and better cash conversion underpin the firm's ability to invest in R&D, complete integrations, and meet debt maturities without eroding liquidity over the medium term.

Negative Factors

Goodwill Impairment

A $501M goodwill write-down reflects a meaningful deterioration in expectations for acquired assets or slower-than-expected synergies. While non‑cash, it signals persistent weakness in underlying cash flows, reduces equity cushions and could constrain strategic M&A flexibility and investor confidence for multiple quarters.

Weak Reported Profitability

Despite top-line growth and healthy gross margins, very large net losses and deeply negative ROE indicate operating and non‑operating charges (impairments, integration costs) are eroding returns. Persistent negative profitability limits internal capital formation and heightens execution risk until structural cost and integration items normalize.

Integration & Investment Drag

Ongoing integration and elevated R&D/enablement spend will meaningfully constrain margin and cash conversion near term. Extended investment cadence increases the risk that expected efficiency gains are delayed, compressing free cash flow targets and making multi-quarter execution and margin recovery more uncertain.

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 generates revenue primarily through the sale of its orthopedic and rehabilitation products. Key revenue streams include sales from surgical devices, which are utilized in various orthopedic procedures, and the distribution of supportive products such as braces and rehabilitation equipment. The company also leverages digital health solutions that provide additional services and support to healthcare providers and patients. Significant partnerships with healthcare systems and providers enhance its market reach and contribute to its earnings, alongside continuous investments in research and development to innovate and expand its product offerings.

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	93.00M	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: Neutral
• Last Price: 25.79
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ENOV, the sentiment is Neutral. The current price of 25.79 is above the 20-day moving average (MA) of 23.13, above the 50-day MA of 24.37, and below the 200-day MA of 28.99, indicating a neutral trend. The MACD of 0.40 indicates Negative momentum. The RSI at 62.87 is Neutral, neither overbought nor oversold. The STOCH value of 82.51 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ENOV.

Enovis Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EPAC	75 Outperform	$2.11B	25.78	21.75%	0.10%	3.91%	1.48%
HLIO	70 Outperform	$2.32B	37.53	3.75%	0.64%	-1.46%	-10.03%
SXI	68 Neutral	$3.21B	308.57	7.72%	0.57%	18.51%	-28.69%
ENOV	52 Neutral	$1.48B	-1.28	-58.37%	―	11.57%	-1016.39%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
XMTR	47 Neutral	$2.29B	-48.93	-20.93%	―	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.

Enovis Announces Leadership Transition in HR Department

On December 10, 2025, Enovis Corporation announced that Patricia A. Lang will retire from her role as Senior Vice President and Chief Human Resources Officer on April 3, 2026, transitioning to an advisory role until her full retirement on April 3, 2027. Laura Singleton, currently Vice President of Human Resources for the Reconstructive segment, will succeed Lang. Singleton, who joined Enovis in 2019, has extensive experience in human resources leadership roles. The company has entered into a retirement transition agreement with Lang, ensuring her continued contribution in a non-executive role during the transition period, with adjustments to her salary and benefits.

The most recent analyst rating on (ENOV) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on Enovis stock, see the ENOV Stock Forecast page.

Enovis Amends Credit Agreement for Financial Flexibility

On December 8, 2025, Enovis Corporation amended its existing credit agreement to enhance its financial flexibility. The amendment extends the maturity date for its revolving and term loan facilities to December 8, 2030, and allows for increased cash offsets in leverage ratio calculations. The amendment also reduces borrowing margins under certain conditions and modifies covenants to allow for greater acquisition spending and debt capacity. New lenders joined the agreement, and part of the term loan proceeds was used to repay existing revolving debt.

The most recent analyst rating on (ENOV) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on Enovis stock, see the ENOV Stock Forecast page.