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Envista Holdings Corp (NVST)
NYSE:NVST
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Envista Holdings
(NYSE:NVST)
55Neutral
Positive Factors
Earnings
NVST beat consensus revenue and earnings and management reiterated its revenue and EPS guidance, indicating strong financial performance.
Growth Potential
Envista is reinvesting for growth across the business, which indicates a potential long-term growth trajectory.
Product Innovation
Key product takeaways were positive for 'Specialty Products & Technologies', with the Spark clear aligner franchise likely turning the corner to profitability.
Negative Factors
Guidance
The company provided EBITDA and EPS growth guidance below consensus forecasts for future years, signaling potential challenges ahead.
Market Valuation
NVST's shares are trading at a notable premium compared to a competitor, contributing to a cautious view.
Tariff Exposure
Uncertainty over macro conditions and tariffs creates new headwinds for the company, especially with exposure between the U.S. and China.
Envista Holdings (NVST) vs. S&P 500 (SPY)
Market Cap
$2.88B
Dividend YieldN/A
Average Volume (3M)3.60M
Price to Earnings (P/E)―
Beta (1Y)0.78
Revenue Growth-2.18%
EPS Growth-1073.00%
CountryUS
Employees12,300
SectorHealthcare
Sector Strength58
IndustryMedical - Equipment & Services
Share Statistics
EPS (TTM)-6.50
Shares Outstanding169,467,680
10 Day Avg. Volume2,857,904
30 Day Avg. Volume3,599,639
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.33
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit2.79
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$19.73Price Target Upside16.13% Upside
Rating ConsensusHold
Number of Analyst Covering13
Envista Holdings Business Overview & Revenue Model
Company DescriptionEnvista Holdings Corporation (NVST) is a global dental products company that operates in the healthcare sector, specifically focusing on the dental industry. The company provides a comprehensive portfolio of dental solutions, including dental implants, orthodontic solutions, and digital imaging technologies. Envista serves dental professionals worldwide by offering innovative products and services designed to enhance patient care and improve clinical outcomes.
How the Company Makes MoneyEnvista Holdings generates revenue through the sale of its dental products and services across various categories, including implants, orthodontics, and digital imaging systems. The company operates through two main segments: Specialty Products & Technologies and Equipment & Consumables. The Specialty Products & Technologies segment includes dental implants and orthodontic solutions, which are sold to dental professionals and clinics. The Equipment & Consumables segment provides products like dental imaging equipment and other consumable dental products. Envista's revenue model relies on direct sales to dental practitioners, partnerships with dental distributors, and long-term contracts with dental service organizations. The company also invests in research and development to innovate and expand its product offerings, which can lead to increased sales and market share. Strategic acquisitions and alliances further enhance its market presence and contribute to its earnings.
Envista Holdings Financial Statement Overview
Summary
Envista Holdings faces financial challenges with profitability and revenue growth pressures. The balance sheet offers stability through its equity, but rising leverage is concerning. Cash flow generation is a strength, although negative profitability affects overall financial health.Income Statement
Envista Holdings has experienced fluctuations in profitability with negative net income in recent periods. The gross profit margin remains fairly stable, indicating decent control over cost of goods sold. However, the negative EBIT and EBITDA margins in the TTM period highlight operational inefficiencies. Revenue growth has been inconsistent, with recent declines contributing to overall instability.45
Neutral
Balance Sheet
The company's balance sheet shows a healthy equity position relative to its total assets, suggesting solid financial backing. However, a rising debt-to-equity ratio poses a risk, reflecting increased leverage that could impact future financial flexibility. The return on equity has been adversely affected by negative net income, limiting shareholders' returns.55
Neutral
Cash Flow
Envista Holdings demonstrates a relatively strong cash flow position, with consistent positive operating cash flow. Free cash flow remains positive but shows signs of decline, indicating potential challenges in sustaining cash generation. The operating cash flow to net income ratio is favorable, suggesting effective cash conversion from operations, though negative net income affects the overall assessment.60
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 2.51B | 2.57B | 2.57B | 2.51B | 2.28B | Gross Profit |
| 1.37B | 1.45B | 1.47B | 1.43B | 1.16B | EBIT |
| -1.04B | 31.50M | 319.20M | 306.20M | 33.30M | EBITDA |
| -883.80M | 171.10M | 484.40M | 460.50M | 205.60M | Net Income Common Stockholders |
| -1.12B | -100.20M | 243.10M | 263.50M | 33.30M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 1.07B | 940.00M | 606.90M | 1.07B | 888.90M | Total Assets |
| 5.35B | 6.61B | 6.59B | 6.57B | 6.88B | Total Debt |
| 1.55B | 1.65B | 1.53B | 1.46B | 1.98B | Net Debt |
| 478.60M | 713.60M | 922.20M | 386.30M | 1.09B | Total Liabilities |
| 2.42B | 2.43B | 2.38B | 2.52B | 3.15B | Stockholders Equity |
| 2.93B | 4.17B | 4.21B | 4.06B | 3.72B |
| Cash Flow | Free Cash Flow | |||
| 302.70M | 217.50M | 107.00M | 336.70M | 236.20M | Operating Cash Flow |
| 336.50M | 275.70M | 182.70M | 391.40M | 283.90M | Investing Cash Flow |
| -54.60M | -62.40M | -657.30M | 232.90M | -69.10M | Financing Cash Flow |
| -103.70M | 118.90M | 12.50M | -465.60M | 492.50M |
Envista Holdings Technical Analysis
Neutral
16.99
Price Trends
17.06
Negative
18.59
Negative
18.66
Negative
Market Momentum
-0.17
Negative
57.52
Neutral
73.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVST, the sentiment is Neutral. The current price of 16.99 is above the 20-day moving average (MA) of 15.66, below the 50-day MA of 17.06, and below the 200-day MA of 18.66, indicating a neutral trend. The MACD of -0.17 indicates Negative momentum. The RSI at 57.52 is Neutral, neither overbought nor oversold. The STOCH value of 73.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NVST.
Envista Holdings Risk Analysis
Envista Holdings disclosed 49 risk factors in its most recent earnings report. Envista Holdings reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Envista Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $20.19B | 27.83 | 8.98% | 1.19% | 7.13% | 74.73% | |
68 Neutral | $3.51B | 142.96 | 5.88% | ― | 2.78% | -54.72% | |
66 Neutral | $2.96B | ― | -8.90% | ― | 13.52% | -1296.44% | |
55 Neutral | $2.88B | ― | -31.47% | ― | -2.18% | -1073.00% | |
52 Neutral | $5.36B | 3.88 | -42.93% | 2.87% | 17.85% | 1.45% | |
46 Neutral | $2.81B | ― | -34.77% | 4.59% | -4.34% | -634.89% |
* Healthcare Sector Average
Performance Comparison
NVST
Envista Holdings
16.99
-2.07
-10.86%
XRAY
DENTSPLY SIRONA
14.08
-13.30
-48.58%
LH
Labcorp Holdings
247.66
49.14
24.75%
SGRY
Surgery Partners
23.08
-2.52
-9.84%
SHC
Sotera Health
12.38
1.09
9.65%
Envista Holdings Earnings Call Summary
Earnings Call Date:May 01, 2025
(Q1-2025)
| % Change Since: 3.98%|
Next Earnings Date:Jul 30, 2025
Earnings Call Sentiment Neutral
The earnings call described a balanced performance with solid growth and operational improvements offset by challenges related to foreign exchange impacts and geopolitical uncertainties in China. The company's financial strength and strategic initiatives provide a buffer against these challenges.Q1-2025 Updates
Positive Updates
Solid Start to 2025
Envista delivered core growth of 0.2% and adjusted EBITDA margin around 13%, both in line with expectations, and adjusted EPS of $0.24, slightly ahead of expectations. Progress was also made on the $250 million share repurchase program.
Growth in Key Segments
Growth was delivered across consumables, Nobel Biocare, and Ormco (excluding China). Positive growth was also noted in North America, Japan, and emerging markets excluding China.
Operational Improvements
The company saw gains in customer service, price, G&A productivity, and Spark margins. Employee engagement improved by 4 points, and there was year-over-year improvement in employee retention.
Strong Cash Position
Envista maintains a strong balance sheet with net debt to adjusted EBITDA of approximately 1 times, providing flexibility during macroeconomic uncertainty.
Negative Updates
Impact of Foreign Exchange Rates
Currency exchange rates negatively impacted sales year over year by about 140 basis points, and the adjusted gross margin decreased by 260 basis points due to FX headwinds.
Challenges in China
Declines in diagnostics globally and brackets and wires in China due to ortho VBP preparations impacted performance. The geopolitical situation also adds uncertainty.
Free Cash Flow Outflow
Free cash flow was an outflow of $5 million in Q1, attributed to the timing of incentive compensation and working capital.
Company Guidance
During Envista Holdings Corporation's First Quarter 2025 earnings call, the company provided guidance for the fiscal year, maintaining its projections despite macroeconomic uncertainties. Envista anticipates a core growth of 1% to 3%, adjusted EBITDA margins around 14%, and adjusted EPS between $0.95 and $1.05. The first quarter results showed a core growth of 0.2%, an adjusted EBITDA margin of approximately 13%, and adjusted EPS of $0.24, exceeding expectations slightly. The company is actively managing its operations to mitigate tariff impacts and has a $250 million share repurchase program underway. Additionally, Envista has seen improvements in several areas, including customer service, G&A productivity, and employee engagement, while maintaining a strong balance sheet to navigate the current economic landscape.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.