Enovis Corporation (ENOV)
NYSE:ENOV
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Enovis
(NYSE:ENOV)
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Rating:59Neutral
Price Target:
$23.00
▼(-12.61% Downside)
Action:Reiterated
Date:05/20/26
The score is held back primarily by weak profitability in the financial statements (large operating and net losses), partially offset by improving cash flow and solid revenue/gross margin trends. Technicals are moderately supportive (above key short/intermediate averages with neutral momentum), while valuation is pressured by a negative P/E. The latest earnings call adds support via reaffirmed guidance, improving free cash flow, and commercial momentum, tempered by tariff and geopolitical/international volatility risks.
Positive Factors
Margin Sustainability
Sustained high gross margins (~60%–62%) reflect durable product mix advantages and pricing power in implants and rehabilitation. Even with elevated investment, underlying margin expansion suggests structural cost and mix improvements that support long‑term profitability as revenue scales.
Negative Factors
Profitability Weakness
Despite revenue growth and healthy gross margins, the company shows very large operating and net losses, with margins deteriorating sharply. Persistent negative profitability undermines ROE and requires sustained margin recovery or further cash generation to achieve durable earnings stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin Sustainability
Sustained high gross margins (~60%–62%) reflect durable product mix advantages and pricing power in implants and rehabilitation. Even with elevated investment, underlying margin expansion suggests structural cost and mix improvements that support long‑term profitability as revenue scales.
Read all positive factors
Enovis (ENOV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.26B
Dividend YieldN/A
Average Volume (3M)1.20M
Price to Earnings (P/E)―
Beta (1Y)1.48
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. Volume1,113,047
30 Day Avg. Volume1,200,059
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 Cap2.04
Enterprise Value/Revenue1.13
Enterprise Value/Gross Profit1.99
Enterprise Value/Ebitda-3.44
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 is a global medical technology enterprise specializing in the design, production, and supply of medical devices. These specialized products are instrumental for a diverse range of healthcare professionals—including orthopedic sp...
How the Company Makes Money
Enovis makes money primarily by selling medical devices and related solutions through two main areas: (1) orthopedic implant and surgical technology sales and (2) rehabilitation-focused products such as bracing and other recovery/therapy solutions...
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 | -748.33M | -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
Negative
26.32
Price Trends
23.91
Negative
23.45
Negative
26.36
Negative
Market Momentum
-0.75
Positive
45.73
Neutral
22.75
Neutral
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 26.32 is above the 20-day moving average (MA) of 22.58, above the 50-day MA of 23.91, and below the 200-day MA of 26.36, indicating a bearish trend. The MACD of -0.75 indicates Positive momentum. The RSI at 45.73 is Neutral, neither overbought nor oversold. The STOCH value of 22.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ENOV.
Enovis Risk Analysis
Enovis disclosed 45 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $2.99B | 49.18 | 6.59% | 0.64% | 10.45% | 64.56% | |
69 Neutral | $3.82B | 38.36 | 13.78% | 0.57% | 18.33% | 61.06% | |
65 Neutral | $5.15B | -93.23 | -18.89% | ― | 29.10% | -3.32% | |
59 Neutral | $1.26B | -1.10 | -60.13% | ― | 5.96% | -37.16% | |
53 Neutral | $1.89B | 22.43 | 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
21.97
-7.99
-26.67%
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36.60
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SXI
Standex International
315.17
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HLIO
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90.49
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191.55%
XMTR
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93.28
60.92
188.26%
Enovis Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Enovis Shareholders Approve Expanded Incentive Plan and Board
Positive
May 19, 2026
At its May 19, 2026 annual meeting, Enovis Corporation’s stockholders approved an amendment to the company’s 2020 Omnibus Incentive Plan, adding authorization for 3,650,000 additional shares of common stock to be issued under the plan ...
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.