Envista Holdings Corporation (NVST)
NEUTRALFundamental
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
Dental implant systems, regenerative products and orthodontic brackets, aligners and lab products for specialists and general dentists.
Dental imaging systems, endodontic equipment, restorative materials, cements and infection-prevention supplies used in daily practice.
Ventaja competitiva
Escala · EstrechaEnvista 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 cíclicoRoutine 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.
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
Valor Justo
$24.42
Precio Actual
$27.47
Margen de Seguridad
-12.5%
Rango de Valor Justo
$15.88 - $32.97
Métodos de Estimación
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
Solidez financiera fuerte
Calidad de los Beneficios
Alta calidad: beneficios respaldados por efectivo
Dilución de Acciones
Recomprando acciones. Favorable para el accionista
Gobernanza
Equipo Directivo
| Nombre | Cargo | Edad |
|---|---|---|
| Mr. Eric D. Hammes | Senior VP & CFO | 50 |
| Mr. Mark E. Nance J.D. | Senior VP, General Counsel & Secretary | 56 |
| Mr. Robert Befidi Jr. | Senior VP & President of Diagnostics | 50 |
| Ms. Veronica Acurio | Senior VP & President of Orthodontics | 54 |
| Mr. Coree Thomas | VP & Chief Accounting Officer | 47 |
| Mr. Andrew Chen | Chief Information Officer | - |
| Mr. Jim Gustafson | Vice President of Investor Relations | - |
| Paul Sumilas | Chief Compliance Officer | - |
| Mr. Mischa M. Reis | Senior Vice President of Strategy & Corporate Development | 52 |
| Mr. Suraj Satpathy | Chief 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.