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Envista Holdings Corporation (NVST)

NEUTRAL
HealthcareMedical Instruments & SuppliesUnited States

Fundamental

55

Precio

$27.47

Capitalización Bursátil

$4.40B

Parte 1 · Cuánto vale la empresa

Resumen

Envista makes the products dentists and orthodontists use every day: dental implants, clear aligners and orthodontic brackets, plus the equipment and consumables — imaging systems, drills, cements, infection-control supplies — that keep a dental office running. It sells through its own sales force and a network of dealers to over 130 countries, serving both specialists who place implants and general practitioners who handle routine care. More than half its sales come from outside the United States.

Cómo genera ingresos

Envista books revenue when it ships implants, aligners, equipment or consumables to dealers and dental practices; consumables and implants are recurring, replenished purchases, while imaging systems and other capital equipment are one-off, lumpier sales tied to a practice's investment cycle. Its two segments split roughly two-thirds specialty products (implants, orthodontics) to one-third equipment and consumables, and its largest single distributor, Henry Schein, alone channels about 12% of total sales to end customers.

Ingresos por segmento

Specialty Products & Technologies64.4%

Dental implant systems, regenerative products and orthodontic brackets, aligners and lab products for specialists and general dentists.

Equipment & Consumables35.6%

Dental imaging systems, endodontic equipment, restorative materials, cements and infection-prevention supplies used in daily practice.

Ventaja competitiva

Escala · Estrecha

Envista describes itself as running one of the largest customer-facing sales teams in the dental industry, backed by a global dealer network reaching over 130 countries. That distribution scale is hard for smaller rivals to match, but the underlying implant and equipment categories are competitive and price-sensitive, so the advantage is narrow rather than a lock on the market.

Qué impulsa la demanda

Moderadamente cíclico

Routine dental consumables track fairly steady patient visit volumes, but elective procedures like implants and big-ticket equipment purchases are more discretionary and get postponed when practices or patients tighten spending. The mix of the two makes overall demand more resilient than typical consumer discretionary goods, but not fully immune to economic cycles.

Riesgos clave

  • Distributor dependence — A substantial portion of sales flows through a limited number of distributors, chiefly Henry Schein, with no assurance any of them will keep purchasing at current levels or that lost volume could be quickly replaced.
  • Distributor inventory swings — The company relies on predictions of distributor and customer inventory levels to plan production; when those inventories build or run down differently than expected, reported results can diverge sharply from underlying demand.
  • Acquisition and divestiture risk — Envista routinely acquires and divests businesses to fit its portfolio strategy, and warns that earn-outs, indemnification obligations, goodwill impairments and unsatisfied deal conditions could all produce unpredictable financial results.

Concentración de clientes

Los principales clientes representan el 12% de los ingresos

Henry Schein, the company's largest distributor, accounted for approximately 12% of sales in 2025 and is expected to remain the top contributor for the foreseeable future, without a master distribution agreement guaranteeing that relationship.

Los argumentos a favor

Buyers argue that Envista's scale in global dental distribution and its position across both the specialist implant market and everyday consumables give it a resilient, recurring revenue base that should benefit as dental procedure volumes recover outside the U.S.

Los argumentos en contra

Sellers fear that heavy reliance on a handful of distributors, led by Henry Schein, leaves Envista exposed to a single relationship it does not fully control, and that elective procedure volumes remain vulnerable if patients keep deferring discretionary dental work.

Datos por segmento del ejercicio fiscal 2025Fuentes: Envista Holdings Corp — Form 10-K, fiscal year 2025

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Balance y Liquidez

Ingresos

$2.86B

Últimos 12 meses (hasta 3/7/2026)

Beneficio Neto

$95M

Últimos 12 meses (hasta 3/7/2026)

Flujo de Caja Libre

$230M

Patrimonio Neto Total

$3.11B

Pasivo Total

$2.57B

Ratio de Liquidez

2.43

Cobertura de Intereses

-

Deuda/EBITDA

4.78

Beneficio Por Acción

Ingresos y Beneficio Neto

Flujo de Caja Libre

Desglose de Ingresos

Estado histórico

Márgenes en el tiempo

La deuda en el tiempo

Cuánto pesa la deuda

Cuadro de crecimiento

Crecimiento — Ingresos

Estimación de Valor Justo

Valoración Justa

Valor Justo

$24.42

Precio Actual

$27.47

Margen de Seguridad

-12.5%

Rango de Valor Justo

$15.88 - $32.97

Métodos de Estimación

Analyst Target:$30.57
DCF:$38.28
PE-based:$10.29
Graham Growth:$10.96
EPV:$14.11
Consenso de Analistas:Comprar (12B / 10H / 0S)
Última Sorpresa de Resultados:+19.92%

Métricas de Valoración

Ratio P/E

47.14

ROE

1.5%

Ratio P/B

1.43

P/FCF

17.70

Margen Bruto

55.2%

ROIC

4.5%

Radar de Rentabilidad

Value Creation (Economic Moat)

ROIC

4.5%

WACC

6.9%

ROIC − WACC

-2.4 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Criterios de Análisis Fundamental

Superado (17)

  • Gross Margin 55.2%
  • P/FCF 17.70
  • P/B Ratio 1.43
  • Debt/Equity ratio
  • Operating Margin 9.6%
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Debt/EBITDA
  • Return on Tangible Assets
  • Revenue Growth 5Y 7.1%
  • Analyst Consensus 55% Buy
  • Earnings Surprise avg 15.7%
  • Earnings Quality (OCF/NI) 3.19
  • Share Dilution -2.5%
  • Net Margin Trend 3.3% vs 2.1%
  • Piotroski F-Score 7/9

Fallido (9)

  • EPS shows upward trend
  • EPS CAGR -23.35%
  • Price CAGR -1.22%
  • ROIC 4.5%
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Fairly valued)
  • ROE 3.1%
  • PEG Ratio 7.29

No disponible (2)

  • Dividend Payout NaN%
  • Interest Coverage

Piotroski F-Score

7/9

Solidez financiera fuerte

score
criteria

Calidad de los Beneficios

3.19

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

-2.5%

Recomprando acciones. Favorable para el accionista

Gobernanza

Equipo Directivo

NombreCargoEdad
Mr. Eric D. HammesSenior VP & CFO50
Mr. Mark E. Nance J.D.Senior VP, General Counsel & Secretary56
Mr. Robert Befidi Jr.Senior VP & President of Diagnostics50
Ms. Veronica AcurioSenior VP & President of Orthodontics54
Mr. Coree ThomasVP & Chief Accounting Officer47
Mr. Andrew ChenChief Information Officer-
Mr. Jim GustafsonVice President of Investor Relations-
Paul SumilasChief Compliance Officer-
Mr. Mischa M. ReisSenior Vice President of Strategy & Corporate Development52
Mr. Suraj SatpathyChief Human Resources officer-

Riesgo de Auditoría

2

Riesgo del Consejo

2

Riesgo de Compensación

4

Riesgo de Derechos del Accionista

5

Parte 2 · El precio y el momento de entrar

Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.

Latest News

Recent headlines for NVST, sourced from Markets Gazette.

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