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 reported a robust Q3 2025 performance, with revenue reaching $670 million, representing a core sales increase of 9.4% year-over-year. The adjusted EBITDA margin expanded to 14.5%, up 540 basis points from Q3 2024, driven by volume, mix, and price improvements. Adjusted EPS came in at $0.32, surpassing estimates of $0.27. Free cash flow stood at $68 million, an increase of $5 million from Q3 2024. As Paul Keel, President and CEO, noted, "Envista's momentum continues to build, with core growth of roughly 5% in the quarter and 3% year-to-date after adjusting for Spark deferral and dealer inventory realignment."
Publication Date: Nov -05
The company's major businesses, including ortho, consumables, diagnostics, and implants, all delivered growth. The Spark aligner business, in particular, shipped its 1 millionth case since launching in 2019 and continues to outgrow the global aligner category. The consumables business outperformed the market with double-digit growth, driven by strong performance across all components, particularly in infection prevention and DSOs.
Envista's adjusted EBITDA margin guide for the year remains at 14%, implying Q4 margins to be around 14%. The company is tracking to the low 14% range for next year, but the third quarter's margin performance is a good basis for going forward, which would put it closer to 15%. The expected implant VBP 2.0 is likely to follow the standard pattern of 2-3 quarters of inventory reductions, followed by a volume recovery and demand recovery.
Envista's current valuation metrics indicate a P/E Ratio of 222.84, EV/EBITDA of 11.35, and a Free Cash Flow Yield of 7.92%. The Net Debt / EBITDA ratio stands at approximately 1x, providing stability in the current environment. Analysts estimate next year's revenue growth at 3.6%. These metrics suggest that the market has priced in a certain level of growth, but Envista's strong Q3 performance and guidance suggest that the company is on track to deliver on its expectations.
Envista Holdings Corporation (NVST) Presents at Evercore 8th Annual Healthcare Conference Transcript
Dec -03
Envista Announces Participation in 8th Annual Evercore Healthcare Conference
Nov -25
Envista Holdings Corporation $NVST Shares Sold by Teacher Retirement System of Texas
Nov -05
Envista Holdings Corporation (NVST) Q3 2025 Earnings Call Transcript
Oct -31
Envista Reports Third Quarter 2025 Results
Oct -30
Envista Announces Release of 2024 Sustainability Report
Oct -29
Envista Holdings Corporation (NYSE:NVST) Given Consensus Rating of “Hold” by Brokerages
Oct -26
Envista (NVST) Projected to Post Earnings on Thursday
Oct -23
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: 7.7
Growth: 1.4
Quality: 3.1
Yield: 6.0
Momentum: 0.0
Volatility: 5.7
1-Year Total Return ->
Value: 4.5
Growth: 1.2
Quality: 5.1
Yield: 0.0
Momentum: 7.0
Volatility: 5.7
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Value: 4.6
Growth: 4.2
Quality: 3.8
Yield: 0.0
Momentum: 5.0
Volatility: 5.3
1-Year Total Return ->
Value: 5.6
Growth: 4.4
Quality: 3.2
Yield: 0.0
Momentum: 1.0
Volatility: 4.7
1-Year Total Return ->
Value: 2.9
Growth: 1.2
Quality: 5.9
Yield: 0.0
Momentum: 1.0
Volatility: 6.3
1-Year Total Return ->
Value: 5.1
Growth: 2.6
Quality: 4.2
Yield: 0.0
Momentum: 1.5
Volatility: 3.3
1-Year Total Return ->