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DENTSPLY SIRONA
(NASDAQ:XRAY)
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Rating:48Neutral
Price Target:
$8.50
▼(-22.52% Downside)
Action:Reiterated
Date:10/15/26
XRAY scores below average primarily due to pressured financial performance (multi-year revenue declines, ongoing losses, and increased leverage) and a bearish technical trend (below key moving averages with negative MACD). Offsetting factors include consistently positive operating/free cash flow, maintained full-year guidance with a cautiously optimistic tone on a Q4-driven improvement trajectory, and a high dividend yield that provides some valuation support despite loss-driven negative P/E.
Positive Factors
Cash Generation
Positive operating and free cash flow provide internal funding while the company works through earnings pressure. Although cash generation is below earlier peaks, its ongoing presence supports investment, debt service, and operational resilience over the next several quarters.
Negative Factors
Persistent Revenue Decline
Several years of declining revenue indicate that the company is facing a broad demand and execution challenge rather than a single temporary setback. Continued contraction can reduce operating leverage, limit reinvestment capacity, and delay a durable return to profitable growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Positive operating and free cash flow provide internal funding while the company works through earnings pressure. Although cash generation is below earlier peaks, its ongoing presence supports investment, debt service, and operational resilience over the next several quarters.
Read all positive factors
DENTSPLY SIRONA Key Performance Indicators (KPIs)
Any
Adjusted Operating Income by Segment
Measures operating profit for each segment after adjusting out non-recurring items, revealing relative profitability and operational efficiency. This helps identify high-margin growth drivers and segments that may be draining resources or require strategic change.
Measures operating profit for each segment after adjusting out non-recurring items, revealing relative profitability and operational efficiency. This helps identify high-margin growth drivers and segments that may be draining resources or require strategic change.
Data provided by:
The Fly
The FlyDENTSPLY SIRONA (XRAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.88B
Dividend Yield6.79%
Average Volume (3M)5.12M
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth-0.76%
EPS Growth42.34%
CountryUS
Employees14,000
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-2.74
Shares Outstanding199,353,880
10 Day Avg. Volume4,542,278
30 Day Avg. Volume5,116,883
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)1.70
Price to Sales (P/S)0.62
P/FCF Ratio21.91
Enterprise Value/Market Cap2.23
Enterprise Value/Revenue1.15
Enterprise Value/Gross Profit2.33
Enterprise Value/Ebitda45.16
Forecast
1Y Price Target
$12.73Price Target Upside16.02% Upside
Rating ConsensusHold
Number of Analyst Covering13
EPS Forecast (FY)1.53
Revenue Forecast (FY)$3.57B
DENTSPLY SIRONA Business Overview & Revenue Model
Company Description
DENTSPLY SIRONA Inc. develops, manufactures, and markets dental equipment supported by cloud-enabled solutions, dental products, and healthcare consumable products in urology and enterology worldwide. It operates through four segments: Connected T...
DENTSPLY SIRONA Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Neutral
The call reflected a mixed but constructive tone: management reported near-term top-line pressures across multiple segments (notably OIS and consumables distributor headwinds in EMEA) and acknowledged tariff and geopolitical uncertainties. Offsetting these challenges were stable adjusted EBITDA and EPS, a one-time $44 million tariff refund that materially improved cash flow and EPS, continued strategic investments in sales, clinical education and R&D, expansion of dealer partnerships, and strong Wellspect performance. Management maintained full-year guidance and emphasized that improvements from the return-to-growth action plan should become more visible in Q4 and into 2027. Given balanced operational progress and strategic momentum against ongoing revenue and regional demand headwinds, the overall message is cautiously optimistic but still in turnaround mode.Positive Updates
Revenue and EPS Stability (Non-GAAP)
Q2 revenue of $898 million; adjusted EPS flat year-over-year at $0.52. Adjusted EBITDA margins were approximately flat YoY despite headwinds.
Negative Updates
Top-Line Decline
Total Q2 revenue declined 4.1% as reported and 6.3% on a constant currency basis. After adjusting for Byte and a planned ~$8 million dealer inventory reduction, revenue declined 3.6% on a constant currency basis.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and EPS Stability (Non-GAAP)
Q2 revenue of $898 million; adjusted EPS flat year-over-year at $0.52. Adjusted EBITDA margins were approximately flat YoY despite headwinds.
Read all positive updates
Company Guidance
The company maintained its 2026 guidance for net sales of $3.5 billion to $3.6 billion and adjusted EPS of $1.40 to $1.50 (explicitly excluding the $44 million tariff refund and any incremental tariff impacts), while noting Q3 revenue should decline sequentially due to seasonality and Q3 earnings are expected below Q2 2026 levels excluding the $0.17 per‑share tariff refund benefit; Q2 results included $898 million of revenue (down 4.1% reported, down 6.3% constant currency, and down 3.6% CC after adjusting for Byte and a planned ~$8 million dealer inventory reduction), adjusted EPS of $0.52 (flat year‑over‑year), roughly flat adjusted EBITDA margins, operating cash flow of $99 million versus $48 million prior year, a $44 million tariff refund (≈$0.17/share) that enabled opportunistic repurchases of 1.3 million shares for ≈$12 million (average price below $10), ending cash of $239 million and net debt/EBITDA of 3.2x, and management said it expects the payoff from investments in sales, clinical education and R&D to become increasingly visible beginning in Q4.DENTSPLY SIRONA Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
38
Negative
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.64B | 3.68B | 3.79B | 3.96B | 3.92B | 4.23B |
| Gross Profit | 1.80B | 1.84B | 1.96B | 2.09B | 2.13B | 2.35B |
| EBITDA | 93.00M | -46.00M | -518.00M | 249.00M | -662.00M | 952.00M |
| Net Income | -546.00M | -598.00M | -910.00M | -132.00M | -950.00M | 411.00M |
Balance Sheet | ||||||
| Total Assets | 5.20B | 5.43B | 5.75B | 7.37B | 7.64B | 9.24B |
| Cash, Cash Equivalents and Short-Term Investments | 239.00M | 326.00M | 272.00M | 334.00M | 365.00M | 339.00M |
| Total Debt | 2.31B | 2.47B | 2.27B | 2.30B | 2.15B | 2.29B |
| Total Liabilities | 3.85B | 4.09B | 3.81B | 4.08B | 3.83B | 4.24B |
| Stockholders Equity | 1.35B | 1.34B | 1.94B | 3.29B | 3.81B | 5.00B |
Cash Flow | ||||||
| Free Cash Flow | 143.00M | 104.00M | 281.00M | 228.00M | 368.00M | 515.00M |
| Operating Cash Flow | 319.00M | 235.00M | 461.00M | 377.00M | 517.00M | 657.00M |
| Investing Cash Flow | -173.00M | -132.00M | -197.00M | -89.00M | -138.00M | -358.00M |
| Financing Cash Flow | -265.00M | -80.00M | -302.00M | -307.00M | -329.00M | -379.00M |
DENTSPLY SIRONA Technical Analysis
Negative
10.97
Price Trends
9.87
Negative
10.87
Negative
11.41
Negative
Market Momentum
-0.22
Negative
53.98
Neutral
95.39
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XRAY, the sentiment is Negative. The current price of 10.97 is above the 20-day moving average (MA) of 8.79, above the 50-day MA of 9.87, and below the 200-day MA of 11.41, indicating a neutral trend. The MACD of -0.22 indicates Negative momentum. The RSI at 53.98 is Neutral, neither overbought nor oversold. The STOCH value of 95.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for XRAY.
DENTSPLY SIRONA Risk Analysis
DENTSPLY SIRONA disclosed 26 risk factors in its most recent earnings report. DENTSPLY SIRONA reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
DENTSPLY SIRONA Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $156.78B | 54.04 | 17.03% | ― | 20.45% | 8.75% | |
79 Outperform | $35.56B | 24.22 | 23.88% | 0.97% | 9.85% | 9.65% | |
65 Neutral | $54.18B | 59.91 | 3.79% | 2.00% | -2.56% | -40.38% | |
57 Neutral | $13.08B | -12.41 | -16.60% | 0.16% | 5.36% | -632.85% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $1.88B | -3.44 | -39.81% | 6.79% | -0.76% | 42.34% |
* Healthcare Sector Average
XRAY
DENTSPLY SIRONA
9.43
-3.47
-26.92%
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DENTSPLY SIRONA Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
DENTSPLY SIRONA Amends Credit Agreements for Financial Flexibility
Neutral
Oct 9, 2026
On October 8, 2026, DENTSPLY SIRONA amended its revolving credit facility and multiple note purchase agreements, building on changes dated September 30, 2026, to adjust key leverage covenants and EBITDA calculations for the third and fourth quarte...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.