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DENTSPLY SIRONA
(NASDAQ:XRAY)
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Rating:50Neutral
Price Target:
$11.50
▼(-8.07% Downside)
Action:Reiterated
Date:06/12/26
XRAY scores below average primarily due to weak profitability and a pressured balance sheet with elevated leverage, despite positive operating and free cash flow. Technical signals remain soft with the stock below key moving averages and negative MACD. Offsetting factors include a high dividend yield and a cautiously constructive earnings outlook (guidance maintained, cost actions and deleveraging), though near-term sales and margin headwinds keep the score restrained.
Positive Factors
Cash generation / Free cash flow
Sustained positive operating cash flow and free cash flow provide durable internal funding to support restructuring, working capital and selective capital allocation. This cash generation cushions near-term losses, funds deleveraging and gives management flexibility while operating performance recovers.
Negative Factors
Elevated leverage
Higher leverage and a much thinner equity base increase financial risk and constrain flexibility. With debt-to-equity markedly higher than prior years and negative ROE, the company is more sensitive to cash-flow volatility, limiting ability to invest or absorb prolonged demand softness.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation / Free cash flow
Sustained positive operating cash flow and free cash flow provide durable internal funding to support restructuring, working capital and selective capital allocation. This cash generation cushions near-term losses, funds deleveraging and gives management flexibility while operating performance recovers.
Read all positive factors
DENTSPLY SIRONA Key Performance Indicators (KPIs)
Any
Adjusted Operating Income by Segment
Measures operating profit for each segment after adjusting out non-recurring items, revealing relative profitability and operational efficiency. This helps identify high-margin growth drivers and segments that may be draining resources or require strategic change.
Measures operating profit for each segment after adjusting out non-recurring items, revealing relative profitability and operational efficiency. This helps identify high-margin growth drivers and segments that may be draining resources or require strategic change.
Data provided by:
The Fly
The FlyDENTSPLY SIRONA (XRAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.33B
Dividend Yield5.61%
Average Volume (3M)5.70M
Price to Earnings (P/E)―
Beta (1Y)0.71
Revenue Growth-1.02%
EPS Growth30.67%
CountryUS
Employees14,250
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-3.15
Shares Outstanding200,326,680
10 Day Avg. Volume4,391,861
30 Day Avg. Volume5,704,206
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)1.70
Price to Sales (P/S)0.62
P/FCF Ratio21.91
Enterprise Value/Market Cap1.78
Enterprise Value/Revenue1.13
Enterprise Value/Gross Profit2.30
Enterprise Value/Ebitda-32.68
Forecast
1Y Price Target
$13.65Price Target Upside9.11% Upside
Rating ConsensusHold
Number of Analyst Covering13
EPS Forecast (FY)1.42
Revenue Forecast (FY)$3.58B
DENTSPLY SIRONA Business Overview & Revenue Model
Company Description
DENTSPLY SIRONA Inc. develops, manufactures, and markets dental equipment supported by cloud-enabled solutions, dental products, and healthcare consumable products in urology and enterology worldwide. It operates through four segments: Connected T...
How the Company Makes Money
Dentsply Sirona primarily makes money by selling dental consumables and dental equipment/technology to dental professionals and institutions through a mix of direct sales and third‑party distributors. A major revenue stream comes from recurring co...
DENTSPLY SIRONA Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Neutral
The call presented a balanced mix of encouraging operational and financial actions alongside notable near-term challenges. Positives include improved operating cash flow, active deleveraging (≈$79–$80M debt retired), early cost savings (≈$20M OpEx reduction in Q1) and meaningful innovation launches (AI diagnostic aid with ~46% sensitivity improvement, dental MRI clearance, new endodontic tools). Management also maintained full-year guidance and highlighted distributor expansion and early commercial traction. Offsetting these are material constant-currency revenue declines (Q1 cc sales down 6.7%, down 4.5% excluding one-time items), significant margin compression (adjusted EBITDA down 430 bps; gross profit down 560 bps), softness in several key segments (OIS, EDS, IPS, CTS), tariff-related margin pressure, distributor destocking, and an expected ~$30M inventory sell-through headwind later in the year. Given the roughly balanced set of meaningful positives (cash, cost saves, innovation, distribution) and negatives (sales declines, margin pressure, macro/timing risks), the overall tone is cautiously constructive but realistic about near-term headwinds.Positive Updates
Revenue and Guidance Maintained
Q1 revenue of $880 million (as-reported +0.1% vs. prior year quarter). Company maintained full-year 2026 guidance of net sales $3.5B–$3.6B and adjusted EPS $1.40–$1.50, indicating management confidence in the return-to-growth plan.
Negative Updates
Constant-Currency Sales Decline
On a constant currency basis, Q1 sales declined 6.7% year-over-year. After adjusting for one-time headwinds (Byte impact and a strong Q1 2025 treatment center comparison), sales were down 4.5% on a constant currency basis, reflecting near-term softness.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue and Guidance Maintained
Q1 revenue of $880 million (as-reported +0.1% vs. prior year quarter). Company maintained full-year 2026 guidance of net sales $3.5B–$3.6B and adjusted EPS $1.40–$1.50, indicating management confidence in the return-to-growth plan.
Read all positive updates
Company Guidance
Management maintained 2026 guidance for net sales of $3.5–$3.6 billion and adjusted EPS of $1.40–$1.50, while reporting Q1 revenue of $880 million and adjusted EPS of $0.27 (as‑reported sales +0.1%, constant‑currency sales −6.7%, −4.5% after adjusting for one‑time headwinds). They said adjusted EBITDA margin contracted 430 basis points and gross profit declined 560 basis points, OpEx was down about $20 million on a constant‑currency basis (with roughly $20 million of OpEx savings realized in Q1), operating cash flow improved to $40 million (vs. $7 million a year ago), cash was $190 million, net debt/EBITDA was 3.3x, and they retired about $79–$80 million of debt. Management reiterated the $120 million annual restructuring savings target (with benefits building through 2026 and weighted to H2), noted an expected ~300 bps gross‑margin improvement into Q2–Q3 as tariff headwinds ease, and emphasized a conservative, risk‑aware approach given macro and geopolitical uncertainty.DENTSPLY SIRONA Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
34
Negative
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.68B | 3.68B | 3.79B | 3.96B | 3.92B | 4.23B |
| Gross Profit | 1.80B | 1.84B | 1.96B | 2.09B | 2.13B | 2.35B |
| EBITDA | -127.00M | -46.00M | -518.00M | 249.00M | -662.00M | 952.00M |
| Net Income | -628.00M | -598.00M | -910.00M | -132.00M | -950.00M | 411.00M |
Balance Sheet | ||||||
| Total Assets | 5.23B | 5.43B | 5.75B | 7.37B | 7.64B | 9.24B |
| Cash, Cash Equivalents and Short-Term Investments | 190.00M | 326.00M | 272.00M | 334.00M | 365.00M | 339.00M |
| Total Debt | 2.33B | 2.47B | 2.27B | 2.30B | 2.15B | 2.29B |
| Total Liabilities | 3.91B | 4.09B | 3.81B | 4.08B | 3.83B | 4.24B |
| Stockholders Equity | 1.32B | 1.34B | 1.94B | 3.29B | 3.81B | 5.00B |
Cash Flow | ||||||
| Free Cash Flow | 104.00M | 104.00M | 281.00M | 228.00M | 368.00M | 515.00M |
| Operating Cash Flow | 268.00M | 235.00M | 461.00M | 377.00M | 517.00M | 657.00M |
| Investing Cash Flow | -168.00M | -132.00M | -197.00M | -89.00M | -138.00M | -358.00M |
| Financing Cash Flow | -322.00M | -80.00M | -302.00M | -307.00M | -329.00M | -379.00M |
DENTSPLY SIRONA Technical Analysis
Positive
12.51
Price Trends
10.63
Positive
11.50
Positive
11.71
Negative
Market Momentum
0.18
Negative
65.86
Neutral
82.04
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XRAY, the sentiment is Positive. The current price of 12.51 is above the 20-day moving average (MA) of 10.43, above the 50-day MA of 10.63, and above the 200-day MA of 11.71, indicating a neutral trend. The MACD of 0.18 indicates Negative momentum. The RSI at 65.86 is Neutral, neither overbought nor oversold. The STOCH value of 82.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XRAY.
DENTSPLY SIRONA Risk Analysis
DENTSPLY SIRONA disclosed 26 risk factors in its most recent earnings report. DENTSPLY SIRONA 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
DENTSPLY SIRONA Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $150.88B | 50.90 | 17.01% | ― | 21.43% | 20.38% | |
73 Outperform | $30.41B | 20.20 | 24.41% | 0.92% | 10.28% | 16.40% | |
64 Neutral | $43.56B | 40.02 | 4.54% | 2.13% | 2.39% | -24.85% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $2.33B | -3.70 | -41.21% | 5.61% | -1.02% | 30.67% | |
49 Neutral | $11.70B | -10.79 | -16.43% | 2.75% | -4.79% | -78.01% |
* Healthcare Sector Average
XRAY
DENTSPLY SIRONA
11.65
-3.86
-24.88%
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DENTSPLY SIRONA Corporate Events
Business Operations and StrategyExecutive/Board Changes
Dentsply Sirona Appoints John Fortson as New CFO
Positive
Jun 11, 2026
On June 1, 2026, Dentsply Sirona’s board appointed veteran industrial executive John C. Fortson as executive vice president and chief financial officer, with the role to take effect on July 20, 2026, marking a planned leadership change in th...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
DENTSPLY SIRONA Shareholders Back Governance and Incentive Plan
Positive
Jun 4, 2026
At its annual meeting of stockholders held on June 2, 2026, DENTSPLY SIRONA shareholders elected twelve directors to serve until the next annual meeting, with most nominees receiving strong support but director Donald J. Zurbay facing significantl...
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.