DENTSPLY SIRONA (XRAY) AI Stock Analysis

• Market Cap: $2.49B
• Dividend Yield: 5.61%
• Average Volume (3M): 3.56M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.62
• Revenue Growth: -7.08%
• EPS Growth: -113.81%
• Country: US
• Employees: 14,000
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 0.37
• Shares Outstanding: 199,551,970
• 10 Day Avg. Volume: 3,557,551
• 30 Day Avg. Volume: 3,559,637
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.99
• Price to Sales (P/S): 1.02
• P/FCF Ratio: 13.73
• Enterprise Value/Market Cap: 1.85
• Enterprise Value/Revenue: 1.27
• Enterprise Value/Gross Profit: 2.50
• Enterprise Value/Ebitda: -10.66
• 1Y Price Target: $13.09
• Price Target Upside: 4.97% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 14
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: $12.00 ▼(-3.77% Downside)

The score is held down primarily by weak financial performance (declining sales, sizable losses, leverage risk, and deteriorating free cash flow). Technicals provide some near-term support with improving momentum above shorter-term averages, while valuation is only partly supported by the high dividend given ongoing losses. Earnings call guidance and impairment-related setbacks remain a key overhang, partially offset by recent governance and distribution partnership positives.

Positive Factors

Diversified product portfolio

Dentsply Sirona sells equipment, consumables and digital dental technology across multiple channels and service contracts. This diversification creates cross-selling opportunities and recurring service revenue, providing structural resilience against weakness in any single product line or geography.

Segment-level growth momentum

Outperformance in Wellspect and pockets like Connected Technology in Europe show the business can still deliver mid-single-digit growth in targeted segments. Durable strength in specific units helps stabilize margins and can act as a foundation to rebuild overall company revenue over 2-6 months.

Enhanced board governance for execution

The ad hoc Growth and Value Creation Committee, co-chaired by the chairman and CEO, signals heightened board engagement and focused oversight. Sustained governance attention and clear accountability improve odds of disciplined capital allocation and faster execution of the turnaround plan.

Negative Factors

Weak profitability and cash generation

Persistent negative margins and steep free cash flow decline indicate structural profitability problems. Over time this limits reinvestment in R&D, capex, and market development, hampers deleveraging, and undermines the company's ability to self-fund growth or absorb further shocks.

Large impairment and weaker guidance

A sizeable goodwill and intangible impairment reflects reduced expectations for future cash flows and indicates historical over-optimism or lasting demand weakness, especially in the U.S. This reduces tangible equity and can constrain management's ability to finance strategic initiatives without further restructuring.

Leverage and covenant constraints

Revised credit covenants and stepped leverage limits tighten financial discipline but reduce flexibility. If revenue recovery lags, covenant pressure could force accelerated deleveraging, restrict dividends or M&A, and limit the firm's capacity to invest in growth initiatives over the medium term.

DENTSPLY SIRONA Business Overview & Revenue Model

Company Description

DENTSPLY SIRONA Inc. manufactures and sells various dental products and technologies for professional dental market worldwide. The company operates through two segments, Technologies & Equipment, and Consumables. The Technologies & Equipment segment provides dental equipment, such as treatment centers, imaging equipment, motorized dental handpieces, and other instruments for dental practitioners and specialists; dental CAD/CAM technologies for dental offices to support various digital dental procedures, including dental restorations; dentist-directed clear aligner solutions, SureSmile, and direct-to-consumer clear aligner solutions, as well as high frequency vibration technology device; implants; and urology catheters and other healthcare-related consumable products. The Consumables segment offers endodontic products comprising drills, filers, sealers, irrigation needles, and other tools or single-use solutions, which support root canal procedures; restorative products that include artificial teeth, dental ceramics, digital dentures, precious metal dental alloys, and crown and bridge porcelain products. It also provides small equipment products, which comprise intraoral curing light systems, dental diagnostic systems, and ultrasonic scalers and polishers, as well as dental anesthetics, prophylaxis paste, dental sealants, impression materials, teeth whiteners, and topical fluoride. The company was founded in 1877 and is headquartered in Charlotte, North Carolina.

How the Company Makes Money

DENTSPLY SIRONA generates revenue through multiple streams, primarily by selling dental equipment and consumables to dental professionals and clinics. Their revenue model includes direct sales of products, as well as service and support contracts for their equipment. Key revenue streams include sales of imaging systems, CAD/CAM technology, and restorative materials. The company also benefits from partnerships with dental practices and educational institutions, which help to promote their products and expand their market reach. Additionally, DENTSPLY SIRONA invests in research and development to innovate and introduce new products, thereby driving future revenue growth.

DENTSPLY SIRONA Financial Statement Overview

Summary

Financials are weak: revenue is declining (TTM -1.28%), profitability is deeply negative (net margin -25.85% with negative EBIT/EBITDA margins), leverage is elevated (debt-to-equity 1.27) with negative ROE (-45.17%), and free cash flow is falling (TTM -42.03%) with low cash conversion versus earnings.

Income Statement

DENTSPLY SIRONA's income statement reveals significant challenges. The company has experienced declining revenue growth, with a negative growth rate of -1.28% in the TTM period. Profitability margins are concerning, with a negative net profit margin of -25.85% and negative EBIT and EBITDA margins, indicating operational inefficiencies. The gross profit margin remains relatively stable at 51.68%, but overall, the income statement reflects financial distress.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio of 1.27, indicating significant leverage, which could pose financial risks. The return on equity is negative at -45.17%, reflecting poor profitability for shareholders. However, the equity ratio is reasonable, suggesting that a fair portion of assets is financed by equity. The balance sheet indicates a need for improved financial management to enhance stability.

Cash Flow

Cash flow analysis highlights a decline in free cash flow growth by -42.03% in the TTM period, indicating cash generation challenges. The operating cash flow to net income ratio is low at 0.24, and the free cash flow to net income ratio is 0.49, suggesting limited cash flow relative to net losses. Overall, the cash flow statement reflects liquidity concerns and the need for improved cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.62B	3.79B	3.96B	3.92B	4.23B	3.34B
Gross Profit	1.84B	1.96B	2.09B	2.13B	2.35B	1.66B
EBITDA	-432.00M	-518.00M	249.00M	-662.00M	952.00M	330.00M
Net Income	-882.00M	-910.00M	-132.00M	-950.00M	411.00M	-73.00M
Balance Sheet
Total Assets	5.65B	5.75B	7.37B	7.64B	9.24B	9.35B
Cash, Cash Equivalents and Short-Term Investments	363.00M	272.00M	334.00M	365.00M	339.00M	438.00M
Total Debt	2.48B	2.27B	2.30B	2.15B	2.29B	2.46B
Total Liabilities	4.17B	3.81B	4.08B	3.83B	4.24B	4.42B
Stockholders Equity	1.48B	1.94B	3.29B	3.81B	5.00B	4.93B
Cash Flow
Free Cash Flow	80.00M	281.00M	228.00M	368.00M	515.00M	562.00M
Operating Cash Flow	221.00M	461.00M	377.00M	517.00M	657.00M	649.00M
Investing Cash Flow	-144.00M	-197.00M	-89.00M	-138.00M	-358.00M	-1.11B
Financing Cash Flow	-19.00M	-302.00M	-307.00M	-329.00M	-379.00M	476.00M

DENTSPLY SIRONA Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 12.47
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XRAY, the sentiment is Neutral. The current price of 12.47 is above the 20-day moving average (MA) of 12.39, above the 50-day MA of 11.56, and below the 200-day MA of 13.28, indicating a neutral trend. The MACD of 0.26 indicates Positive momentum. The RSI at 54.99 is Neutral, neither overbought nor oversold. The STOCH value of 37.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for XRAY.

DENTSPLY SIRONA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ISRG	78 Outperform	$178.74B	63.98	16.62%	―	22.18%	21.37%
RMD	78 Outperform	$37.70B	25.53	25.68%	0.92%	9.36%	29.56%
BDX	68 Neutral	$57.97B	34.99	6.54%	2.13%	8.23%	-2.04%
HOLX	63 Neutral	$16.73B	31.09	10.86%	―	1.74%	-25.29%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
XRAY	51 Neutral	$2.49B	-2.82	-44.44%	5.61%	-7.08%	-113.81%
BAX	47 Neutral	$10.32B	-38.49	-4.70%	2.75%	-21.20%	-325.40%

DENTSPLY SIRONA Corporate Events

Dentsply Sirona Renews Patterson Dental Technology Distribution Deal

On January 14, 2026, Dentsply Sirona and Patterson Dental announced the renewal of their U.S. dental technology distribution agreement, a non-exclusive arrangement that continues Patterson’s role in distributing Dentsply Sirona’s dental equipment across the United States. The renewed partnership is positioned as a strategic move to accelerate growth, expand access to integrated digital dentistry solutions, and support wider adoption of connected technologies linking devices, software, and services. Patterson Dental’s customers will maintain access to Dentsply Sirona’s full technology portfolio, including the CEREC system, Primescan intraoral scanners, and Axeos and Orthophos imaging systems, with both companies emphasizing that the agreement is designed to help dental practices operate more efficiently, enhance patient outcomes, and reinforce their competitive positioning in an increasingly digital and rapidly evolving dental market.

The most recent analyst rating on (XRAY) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on DENTSPLY SIRONA stock, see the XRAY Stock Forecast page.

Dentsply Sirona adds director and forms growth committee

On January 10, 2026, Dentsply Sirona expanded its Board of Directors from 10 to 11 members and appointed Donald (Don) Zurbay as a director and member of the Audit and Finance Committee, citing his extensive leadership experience in the dental and healthcare sectors, including his recent role as President and CEO of Patterson Companies and prior CFO role at St. Jude Medical. In tandem with this appointment, the Board formed a four-member, ad hoc Growth and Value Creation Committee, co-chaired by Chairman Gregory T. Lucier and President & CEO Daniel T. Scavilla, to oversee execution of the company’s Return-to-Growth action plan announced in November 2025, signaling a reinforced governance structure aimed at accelerating growth, sharpening capital allocation, and enhancing accountability to support long-term value creation for stakeholders.

The most recent analyst rating on (XRAY) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on DENTSPLY SIRONA stock, see the XRAY Stock Forecast page.

Dentsply Sirona Amends Credit Facilities to Enhance Flexibility

On December 24, 2025, Dentsply Sirona amended its revolving credit facility and several private note purchase agreements to reset key financial covenants and update leverage thresholds. The changes introduce stepped maximum total and senior leverage ratios through September 2027, tighten restrictions on restricted payments, cap EBITDA add-backs related to the company’s efficiency initiatives through year-end 2026, and exclude swap obligations from debt calculations, while adding interest rate adjustments tied to leverage levels. These moves are designed to help the company remain in material compliance with its debt covenants as it executes its cost-efficiency programs and manages its capital structure, potentially providing greater financial flexibility but also imposing stricter discipline on leverage and shareholder distributions.

The most recent analyst rating on (XRAY) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on DENTSPLY SIRONA stock, see the XRAY Stock Forecast page.

DENTSPLY SIRONA Appoints Interim CFO Michael Pomeroy

On November 25, 2025, DENTSPLY SIRONA Inc. announced the appointment of Michael Pomeroy as interim Chief Financial Officer. Pomeroy, with extensive experience in finance leadership across various industries, will support the company’s President and CEO, Daniel T. Scavilla, until a permanent CFO is appointed. This strategic appointment aims to leverage Pomeroy’s expertise in growth, turnaround, and operational improvement to strengthen the company’s financial leadership during the transition period.

The most recent analyst rating on (XRAY) stock is a Hold with a $10.50 price target. To see the full list of analyst forecasts on DENTSPLY SIRONA stock, see the XRAY Stock Forecast page.

DENTSPLY SIRONA CFO Matthew Garth Steps Down

On October 31, 2025, DENTSPLY SIRONA Inc. announced that Matthew E. Garth will step down from his role as Executive Vice President and Chief Financial Officer, effective November 5, 2025. The company has begun searching for a new CFO and clarified that Garth’s departure is not due to any disagreements regarding the company’s financial practices. Concurrently, Daniel T. Scavilla, the company’s President and CEO, will take on the additional role of interim principal financial officer. This transition is not expected to involve any new compensatory arrangements for Scavilla.

The most recent analyst rating on (XRAY) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on DENTSPLY SIRONA stock, see the XRAY Stock Forecast page.