Enovis (ENOV)
NYSE:ENOV
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Enovis
(NYSE:ENOV)
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Rating:57Neutral
Price Target:
$27.00
▲(2.58% Upside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weak financial performance driven by steep recent operating and net losses, partially offset by improving cash flow. The latest earnings call was a notable positive (reaffirmed guidance, margin/EPS progress, stronger free cash flow and innovation momentum). Technicals are moderately supportive, while valuation inputs are not meaningful (P/E shown as 0.000 and no dividend yield), limiting valuation support.
Positive Factors
High gross margin and revenue growth
Sustained ~60% gross margin with meaningful revenue expansion supports durable unit economics across both segments. High gross margins provide structural capacity to fund R&D, absorb SG&A, and invest in Recon commercialization even while operating profitability recovers.
Negative Factors
Severe profitability deterioration
A swing to material operating losses and ~-50% net margins is a structural risk: persistent negative returns can erode equity, limit reinvestment capacity, and force prioritization between growth and cost control. Sustainable recovery depends on converting margin and cash improvements into positive net income.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin and revenue growth
Sustained ~60% gross margin with meaningful revenue expansion supports durable unit economics across both segments. High gross margins provide structural capacity to fund R&D, absorb SG&A, and invest in Recon commercialization even while operating profitability recovers.
Read all positive factors
Enovis (ENOV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.40B
Dividend YieldN/A
Average Volume (3M)795.09K
Price to Earnings (P/E)―
Beta (1Y)1.54
Revenue Growth5.96%
EPS Growth-37.16%
CountryUS
Employees7,367
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-20.02
Shares Outstanding57,562,603
10 Day Avg. Volume726,630
30 Day Avg. Volume795,092
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)1.02
Price to Sales (P/S)0.67
P/FCF Ratio75.96
Enterprise Value/Market Cap1.99
Enterprise Value/Revenue1.22
Enterprise Value/Gross Profit2.14
Enterprise Value/Ebitda-14.40
Forecast
1Y Price Target
$42.33Price Target Upside60.84% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)3.65
Revenue Forecast (FY)$2.35B
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 ther...
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-fo...
Enovis Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call showed solid operational execution and clear commercial momentum—particularly in Recon and extremities—with meaningful innovation catalysts (Arvis, Nebula), margin expansion at the gross level, EPS growth, and improved free cash flow. However, offsetting risks include tariff costs (~$4M), international volatility including Middle East exposure (~$1–2M/month), a Q1 selling-days headwind (~240 bps), a conservative stance on guidance, and an SEC-driven change to adjusted EBITDA presentation that reduces non-GAAP comparability. On balance, positive fundamental performance and a constructive outlook outweigh the near-term headwinds and reporting adjustments.Positive Updates
Top-line Growth and Days-Adjusted Performance
Reported Q1 sales of $589 million, up 5% year-over-year. Company organic revenue +3% and days-adjusted organic growth +6% (selling days headwind ~240 bps). Reported results included a +420 bps FX tailwind and a -210 bps headwind related to the Dr. Comfort divestiture.
Negative Updates
Tariff Impact
The company incurred roughly $4 million of tariffs in Q1 (primarily affecting P&R). Management is absorbing and mitigating part of this cost; however, they assume no tariff refunds in the current outlook and expect to continue paying tariffs at current rates.
Read all updates
Q1-2026 Updates
Positive
Negative
Top-line Growth and Days-Adjusted Performance
Reported Q1 sales of $589 million, up 5% year-over-year. Company organic revenue +3% and days-adjusted organic growth +6% (selling days headwind ~240 bps). Reported results included a +420 bps FX tailwind and a -210 bps headwind related to the Dr. Comfort divestiture.
Read all positive updates
Company Guidance
Management reaffirmed 2026 guidance, saying full‑year revenue is expected to be split evenly between H1 and H2 and that they can absorb current headwinds—including roughly $1–2 million per month of Middle East revenue exposure and supply‑chain inflation—without changing the guide; they reiterated a target free cash flow conversion of greater than 25% for 2026 (Q1 free cash flow improved $16M YoY). For context, Q1 results were $589M sales (reported +5%), with reported tailwinds/headwinds of +420 bps FX, –240 bps selling days and –210 bps related to the Dr. Comfort divestiture; company days‑adjusted organic growth was 6% (Recon 8%, P&R 3%), reported organic growth 3% (Recon 6%, P&R 1%), adjusted gross margin 62% (+40 bps underlying), adjusted EBITDA margin 17.6%, adjusted EPS $0.89 (+10% underlying), about $4M of tariffs paid in Q1 (assumed non‑refundable), and CapEx expected roughly in line with last year as a percent of sales; they also updated the adjusted EBITDA presentation to no longer adjust inventory step‑up per SEC dialogue.Enovis Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.28B | 2.25B | 2.11B | 1.71B | 1.56B | 1.43B |
| Gross Profit | 1.29B | 1.35B | 1.18B | 990.78M | 869.38M | 777.67M |
| EBITDA | -192.79M | -830.22M | -481.03M | 169.73M | 241.69M | 170.25M |
| Net Income | -1.14B | -1.18B | -825.49M | -33.26M | -13.29M | 71.66M |
Balance Sheet | ||||||
| Total Assets | 3.83B | 3.83B | 4.72B | 4.51B | 4.27B | 8.52B |
| Cash, Cash Equivalents and Short-Term Investments | 33.13M | 36.39M | 48.17M | 36.19M | 24.30M | 680.25M |
| Total Debt | 1.41B | 1.38B | 1.40B | 536.42M | 334.82M | 2.16B |
| Total Liabilities | 2.35B | 2.34B | 2.15B | 1.09B | 823.45M | 3.85B |
| Stockholders Equity | 1.48B | 1.49B | 2.56B | 3.42B | 3.45B | 4.62B |
Cash Flow | ||||||
| Free Cash Flow | 35.92M | 19.92M | -67.21M | 12.77M | -161.31M | 251.86M |
| Operating Cash Flow | 242.84M | 217.29M | 113.50M | 134.99M | -55.86M | 356.10M |
| Investing Cash Flow | -171.95M | -179.37M | -955.47M | -242.47M | -176.39M | -320.48M |
| Financing Cash Flow | -77.57M | -52.40M | 846.82M | 127.80M | -465.13M | 584.91M |
Enovis Technical Analysis
Positive
26.32
Price Trends
23.39
Positive
24.84
Positive
27.65
Negative
Market Momentum
0.60
Negative
66.91
Neutral
85.29
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ENOV, the sentiment is Positive. The current price of 26.32 is above the 20-day moving average (MA) of 23.45, above the 50-day MA of 23.39, and below the 200-day MA of 27.65, indicating a neutral trend. The MACD of 0.60 indicates Negative momentum. The RSI at 66.91 is Neutral, neither overbought nor oversold. The STOCH value of 85.29 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ENOV.
Enovis Risk Analysis
Enovis disclosed 41 risk factors in its most recent earnings report. Enovis reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Enovis Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $2.55B | 28.26 | 5.33% | 0.64% | 10.45% | 64.56% | |
69 Neutral | $3.01B | 11.46 | 13.78% | 0.57% | 18.33% | 61.06% | |
64 Neutral | $4.46B | -100.63 | -18.89% | ― | 29.10% | -3.32% | |
57 Neutral | $1.40B | -36.68 | -60.13% | ― | 5.96% | -37.16% | |
53 Neutral | $1.73B | 32.79 | 20.01% | 0.10% | 4.23% | -5.90% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
ENOV
Enovis
24.29
-11.77
-32.64%
EPAC
Enerpac Tool Group
33.65
-11.71
-25.82%
SXI
Standex International
248.69
93.24
59.98%
HLIO
Helios Technologies
77.03
44.61
137.61%
XMTR
Xometry
86.12
51.83
151.15%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.