Envista Holdings Corp (NVST)
NYSE:NVST
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Envista Holdings
(NYSE:NVST)
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Rating:61Neutral
Price Target:
$27.00
▲(0.33% Upside)
Action:ReiteratedDate:02/07/26
NVST scores as mid-range: financial stability and solid cash generation are offset by uneven profitability, while technical momentum is strong but looks overbought. The latest guidance supports ongoing operational improvement, but valuation remains the largest headwind given the very high P/E and no indicated dividend yield.
Positive Factors
Free Cash Flow Strength
Consistent positive operating and free cash flow (FCF conversion >100%) provides durable internal funding for R&D, capex, buybacks and debt repayment. High cash conversion supports capital allocation optionality and resilience through industry cycles over the next 2–6 months.
Negative Factors
Earnings Volatility / Low Profitability
Wide swings in reported profitability—including a substantial loss in 2024 and only modest net margin recovery—undermine predictability of earnings and ROE. This makes sustained EPS improvements and consistent shareholder returns more uncertain over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Consistent positive operating and free cash flow (FCF conversion >100%) provides durable internal funding for R&D, capex, buybacks and debt repayment. High cash conversion supports capital allocation optionality and resilience through industry cycles over the next 2–6 months.
Read all positive factors
Envista Holdings (NVST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.32B
Dividend YieldN/A
Average Volume (3M)2.29M
Price to Earnings (P/E)77.6
Beta (1Y)0.99
Revenue Growth4.73%
EPS GrowthN/A
CountryUS
Employees12,300
SectorHealthcare
Sector Strength45
IndustryMedical - Equipment & Services
Share Statistics
EPS (TTM)0.38
Shares Outstanding163,875,400
10 Day Avg. Volume2,120,068
30 Day Avg. Volume2,294,851
Financial Highlights & Ratios
PEG Ratio-0.74
Price to Book (P/B)1.17
Price to Sales (P/S)1.34
P/FCF Ratio15.83
Enterprise Value/Market Cap1.15
Enterprise Value/Revenue1.83
Enterprise Value/Gross Profit3.33
Enterprise Value/Ebitda14.07
Forecast
1Y Price Target
$28.33Price Target Upside5.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
EPS Forecast (FY)1.41
Revenue Forecast (FY)$2.84B
Envista Holdings Business Overview & Revenue Model
Company Description
Envista Holdings Corp. manufactures and markets dental products for diagnosing, treating and preventing dental conditions. The company is headquartered in Brea, California and currently employs 12,800 full-time employees. The firm provides product...
How the Company Makes Money
Envista makes money primarily by selling dental products and related solutions to dental practices, orthodontic practices, and dental labs. Its revenue model is largely product-based and spans multiple recurring and non-recurring streams: (1) Capi...
Envista Holdings Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational and financial progress: broad-based revenue growth, notable margin and EPS expansion, high free cash flow conversion, product innovation momentum, cost reduction in G&A, and a return to shareholder-friendly actions (repurchases). Notable risks include FX comparability effects, tariff headwinds (~$30M in 2025; ~$40M annualized in 2026), China VBP timing uncertainty, some segment margin pressure (Diagnostics/Equipment) and the fact that portions of Q4 growth were aided by non-recurring items. On balance, the company presented measurable, repeatable improvements and conservative guidance that account for known risks while projecting continued progress in 2026.Positive Updates
Strong Q4 Revenue and Core Growth
Q4 sales of $751M with core sales growth of 10.8% year-over-year (reported growth ~15% including FX (+~400 bps) and other items). All businesses posted positive growth in Q4 and sequential acceleration across quarters.
Negative Updates
FX and One-Time Comparables Impacting Margins
Q4 adjusted gross margin down 220 bps YoY due to a significant FX transaction benefit in Q4 2024 that did not recur. FX was a headwind to margins (~270 bps YoY impact mentioned).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Q4 Revenue and Core Growth
Q4 sales of $751M with core sales growth of 10.8% year-over-year (reported growth ~15% including FX (+~400 bps) and other items). All businesses posted positive growth in Q4 and sequential acceleration across quarters.
Read all positive updates
Company Guidance
Envista guided 2026 to core revenue growth of 2%–4%, adjusted EBITDA dollar growth of 7%–13% (implying roughly a 50–100 bps margin improvement), adjusted EPS of $1.35–$1.45 (or ~13%–22% EPS growth), and free cash flow conversion of ~100%; key assumptions include a non‑GAAP tax rate of ~28%, a remaining Spark deferral tailwind of about $15M in H1, a ~1.5% full‑year FX benefit (EUR 1 = USD 1.17), no modeled material tariff changes but an annualized tariff impact of roughly $40M in 2026 (vs. ~$30M in 2025) that management expects to offset with price, cost and supply‑chain actions, and a billing‑days cadence (Q1 has ~4 extra selling days vs. Q4) that could shift ~4–5 points of reported growth into Q1.Envista Holdings Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
64
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.72B | 2.51B | 2.57B | 2.57B | 2.51B |
| Gross Profit | 1.50B | 1.39B | 1.45B | 1.49B | 1.46B |
| EBITDA | 341.70M | 279.50M | 463.00M | 497.70M | 496.00M |
| Net Income | 47.00M | -1.12B | -100.20M | 243.10M | 340.50M |
Balance Sheet | |||||
| Total Assets | 5.68B | 5.35B | 6.61B | 6.59B | 6.57B |
| Cash, Cash Equivalents and Short-Term Investments | 1.21B | 1.07B | 940.00M | 606.90M | 1.07B |
| Total Debt | 1.71B | 1.55B | 1.65B | 1.53B | 1.48B |
| Total Liabilities | 2.57B | 2.42B | 2.43B | 2.38B | 2.52B |
| Stockholders Equity | 3.11B | 2.93B | 4.17B | 4.21B | 4.06B |
Cash Flow | |||||
| Free Cash Flow | 230.40M | 302.70M | 217.50M | 107.00M | 306.90M |
| Operating Cash Flow | 275.70M | 336.50M | 275.70M | 182.70M | 361.60M |
| Investing Cash Flow | -51.10M | -54.60M | -62.40M | -657.30M | 262.70M |
| Financing Cash Flow | -170.90M | -103.70M | 118.90M | 12.50M | -465.60M |
Envista Holdings Technical Analysis
Positive
26.91
Price Trends
26.80
Positive
24.43
Positive
22.39
Positive
Market Momentum
-0.01
Negative
55.88
Neutral
71.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVST, the sentiment is Positive. The current price of 26.91 is above the 20-day moving average (MA) of 25.70, above the 50-day MA of 26.80, and above the 200-day MA of 22.39, indicating a bullish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 55.88 is Neutral, neither overbought nor oversold. The STOCH value of 71.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NVST.
Envista Holdings Risk Analysis
Envista Holdings disclosed 47 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $4.32B | 77.60 | 1.52% | ― | 4.73% | ― | |
60 Neutral | $5.84B | -16.79 | -5.61% | ― | 6.23% | 17.53% | |
54 Neutral | $1.01B | -14.21 | -25.73% | ― | 15.23% | 38.79% | |
52 Neutral | $2.34B | -3.81 | -35.24% | 5.61% | -7.08% | -113.81% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $1.07B | -6.98 | -14.16% | ― | 7.16% | 3.95% | |
43 Neutral | $2.53B | -13.21 | -32.80% | ― | ― | -34.96% |
* Healthcare Sector Average
NVST
Envista Holdings
26.91
11.77
77.74%
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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.