GICS Sector : Healthcare
Envista Holdings Corporation, together with its subsidiaries, engages in the development, sale, and marketing of dental products in the United States, China, and internationally.The company operates in two segments, Specialty Products & Technologies and Equipment & Consumables.The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists, and periodontists under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, and Orascoptic brands; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Insignia, AOA, and Spark brands.
Envista Holdings Corporation reported a robust fourth quarter 2025, with sales reaching $751 million, representing a core sales growth of 10.8%. Adjusted EBITDA was up 22% driven by strong execution on price, tariff mitigation, and G&A productivity. Adjusted EPS was $0.38, surpassing estimates of $0.32. For the full year, the company delivered sales of $2.7 billion, with core sales increasing 6.5% over 2024. Adjusted EBITDA margin improved by 2 points to around 14%. The company's free cash flow conversion was 114% for the full year.
Publication Date: Feb -09
The company's segment performance was strong across the board, with Specialty Products & Technologies growing nearly 16% year-over-year. The Orthodontics business captured share, driven by leading offerings in both Brackets & Wires and Clear Aligners. The Equipment & Consumables segment delivered broad-based growth across the portfolio, including solid price performance. As Paul Keel mentioned, "we think we outgrew the market again, that's many, many consecutive quarters now that we've done that."
Envista is guiding to adjusted EBITDA growth of 7-13% and adjusted EPS growth of 13-22% for 2026, both above its medium-term objectives. Core revenue growth is expected to be 2-4%, and free cash flow conversion is expected to be around 100%. Analysts estimate next year's revenue growth at 3.5%, which is slightly below the company's guidance.
Using the current stock price and the reported EPS, the P/E Ratio is 101.79, indicating a relatively high valuation. The EV/EBITDA ratio is 15.77, which is reasonable considering the company's growth prospects. The Free Cash Flow Yield is 5.49%, providing a decent return for investors. As the company continues to execute its value creation plan, investors will be watching to see if the company's growth momentum can be sustained.
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Envista Holdings Corporation's Specialty Products & Technologies segment growth of 3.5% is driven by increasing demand for dental implants and orthodontic products, expansion into emerging markets, and strategic acquisitions. Additionally, investments in digital dentistry and innovation in dental consumables contribute to the segment's growth.
The 2.8% growth in Equipment & Consumables from Envista Holdings Corporation is driven by increasing demand for dental implants and orthodontic products, expansion in emerging markets, and strategic partnerships. Additionally, the company's focus on innovation, digital dentistry, and value-added services contributes to the segment's growth.
Envista's dental implant systems provide a comprehensive range of implants, abutments, and prosthetic components for dental professionals.
Envista's orthodontic products include brackets, bands, and other appliances for orthodontic treatment.
Envista's digital dentistry solutions include intraoral scanners, CAD/CAM systems, and dental software.
Envista's specialty orthodontic products include orthodontic mini-implants, orthodontic archwires, and other specialized orthodontic appliances.
Envista's dental consumables include dental anesthetics, impression materials, and other dental supplies.
The threat of substitutes for Envista Holdings Corporation is moderate due to the presence of alternative dental products and services.
The bargaining power of customers is low for Envista Holdings Corporation due to the company's strong brand reputation and customer loyalty.
The bargaining power of suppliers is moderate for Envista Holdings Corporation due to the presence of multiple suppliers and the company's ability to negotiate prices.
The threat of new entrants is high for Envista Holdings Corporation due to the growing demand for dental products and services and the relatively low barriers to entry.
The intensity of rivalry is high for Envista Holdings Corporation due to the presence of established competitors and the company's need to differentiate itself through innovation and marketing.
| Value | |
|---|---|
| Debt Weight | 28.38% |
| Debt Cost | 3.95% |
| Equity Weight | 71.62% |
| Equity Cost | 10.69% |
| WACC | 8.78% |
| Leverage | 39.62% |
Value: 7.3
Growth: 1.6
Quality: 2.8
Yield: 7.0
Momentum: 1.0
Volatility: 5.3
1-Year Total Return ->
Value: 4.9
Growth: 4.1
Quality: 4.1
Yield: 0.0
Momentum: 4.0
Volatility: 5.3
1-Year Total Return ->
Value: 4.7
Growth: 1.2
Quality: 5.1
Yield: 0.0
Momentum: 4.0
Volatility: 6.0
1-Year Total Return ->
Value: 4.8
Growth: 4.4
Quality: 3.3
Yield: 0.0
Momentum: 3.5
Volatility: 4.7
1-Year Total Return ->
Value: 5.1
Growth: 4.4
Quality: 4.8
Yield: 0.0
Momentum: 2.0
Volatility: 3.3
1-Year Total Return ->
Value: 2.6
Growth: 2.0
Quality: 5.8
Yield: 0.0
Momentum: 2.0
Volatility: 6.7
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