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Envista Holdings
(NYSE:NVST)
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Rating:69Neutral
Price Target:
$31.00
▲(17.74% Upside)
Action:Reiterated
Date:08/06/26
NVST scores highest on improving fundamentals and cash generation, supported by a constructive uptrend in the stock and a positive earnings-call setup with raised guidance and expanding margins. The main constraint on the overall score is valuation, with a high P/E and no dividend yield support, alongside the need for more consistent profitability.
Positive Factors
Strong free cash flow generation
Consistent and rising free cash flow (TTM ~$232M and Q2 $105M) with management targeting ~100% conversion indicates durable cash conversion. That strengthens funding for R&D, buybacks and M&A, reduces refinancing risk, and supports reinvestment without relying on volatile earnings.
Negative Factors
Thin and volatile net profitability
Net margin near 3% and a history of swings (losses in 2023–24) means small revenue or cost shocks can push results negative. Persistent thin bottom-line profitability limits internal reinvestment, stresses returns on equity, and raises forecasting risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Consistent and rising free cash flow (TTM ~$232M and Q2 $105M) with management targeting ~100% conversion indicates durable cash conversion. That strengthens funding for R&D, buybacks and M&A, reduces refinancing risk, and supports reinvestment without relying on volatile earnings.
Read all positive factors
Envista Holdings (NVST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.51B
Dividend YieldN/A
Average Volume (3M)2.47M
Price to Earnings (P/E)46.8
Beta (1Y)1.04
Revenue Growth11.89%
EPS Growth85.76%
CountryUS
Employees12,000
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.59
Shares Outstanding160,617,700
10 Day Avg. Volume2,146,837
30 Day Avg. Volume2,470,277
Financial Highlights & Ratios
PEG Ratio-0.74
Price to Book (P/B)1.17
Price to Sales (P/S)1.34
P/FCF Ratio15.83
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$30.40Price Target Upside15.46% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)1.52
Revenue Forecast (FY)$2.88B
Envista Holdings Business Overview & Revenue Model
Company Description
Envista Holdings Corporation is an enterprise dedicated to the development and distribution of a comprehensive range of dental solutions. These offerings are crucial for the identification, therapeutic intervention, and preventative care of divers...
How the Company Makes Money
Envista makes money primarily by selling dental products and solutions to dental practices, orthodontists, and dental laboratories. Its revenue model is largely product-based and includes: (1) sales of dental consumables and instruments (recurring...
Envista Holdings Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call reported a strong quarter with broad-based revenue growth, meaningful margin expansion, large EPS and free-cash-flow improvement, a strengthened balance sheet and raised full-year guidance. Operational highlights included robust E&C performance, double-digit Spark growth, successful new product launches, and continued share gains. Headwinds and risks were manageable and largely named and quantified: China VBP-driven price pressure and timing uncertainty, a Q4 billing-day calendar headwind, tariff-related costs, and the end of a small deferral tailwind. Overall, management framed the issues as addressable while emphasizing continued momentum, investment in R&D and commercial initiatives, and confidence in the raised guidance.Positive Updates
Revenue and Core Growth
Q2 sales of $731 million; core sales up 5% year-over-year and total revenue up just over 7% (including ~200 bps from FX and recent acquisitions). First half core growth was just over 7%.
Negative Updates
Orthodontic Brackets & Wires Decline
Brackets and wires down high single digits year-over-year, impacted by a strong prior-year comp where customers bought ahead of announced tariff and price activity.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and Core Growth
Q2 sales of $731 million; core sales up 5% year-over-year and total revenue up just over 7% (including ~200 bps from FX and recent acquisitions). First half core growth was just over 7%.
Read all positive updates
Company Guidance
Envista raised and narrowed its 2026 outlook, now calling for core sales growth of 3.5%–4.5%, adjusted EBITDA growth of 11%–14%, adjusted EPS of $1.50–$1.55 and free cash‑flow conversion of ~100%, and expects a full‑year non‑GAAP tax rate of about 26% (roughly 2 points below prior guidance); management pointed to strong H1 momentum (just over 7% core growth year‑to‑date), Q2 core +5%, Q2 sales $731M, Q2 adjusted EBITDA +28% (margin 14.7%, +230 bps) and Q2 adjusted EPS $0.41 (+58%), noted Q4 core growth may be flat to slightly down due to a four‑day billing‑day headwind (but would be in line with the full‑year range excluding that effect), expects Q3–Q4 EBITDA to track sales for each quarter, and said no meaningful Spark deferral impact remains after Q2.Envista Holdings Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.86B | 2.72B | 2.51B | 2.57B | 2.57B | 2.51B |
| Gross Profit | 1.59B | 1.50B | 1.39B | 1.45B | 1.49B | 1.46B |
| EBITDA | 351.30M | 329.80M | 279.50M | 463.00M | 497.70M | 496.00M |
| Net Income | 95.00M | 47.00M | -1.12B | -100.20M | 243.10M | 340.50M |
Balance Sheet | ||||||
| Total Assets | 5.60K | 5.68B | 5.35B | 6.61B | 6.59B | 6.57B |
| Cash, Cash Equivalents and Short-Term Investments | 1.13K | 1.21B | 1.07B | 940.00M | 606.90M | 1.07B |
| Total Debt | 1.59K | 1.60B | 1.55B | 1.65B | 1.53B | 1.48B |
| Total Liabilities | 2.52K | 2.57B | 2.42B | 2.43B | 2.38B | 2.52B |
| Stockholders Equity | 3.08K | 3.11B | 2.93B | 4.17B | 4.21B | 4.06B |
Cash Flow | ||||||
| Free Cash Flow | 232.30M | 230.40M | 302.70M | 217.50M | 107.00M | 306.90M |
| Operating Cash Flow | 299.30M | 275.70M | 336.50M | 275.70M | 182.70M | 361.60M |
| Investing Cash Flow | -177.30M | -51.10M | -54.60M | -62.40M | -657.30M | 262.70M |
| Financing Cash Flow | -218.40M | -170.90M | -103.70M | 118.90M | 12.50M | -465.60M |
Envista Holdings Technical Analysis
Positive
26.33
Price Trends
26.43
Positive
25.87
Positive
24.74
Positive
Market Momentum
0.55
Negative
56.09
Neutral
63.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVST, the sentiment is Positive. The current price of 26.33 is below the 20-day moving average (MA) of 27.53, below the 50-day MA of 26.43, and above the 200-day MA of 24.74, indicating a bullish trend. The MACD of 0.55 indicates Negative momentum. The RSI at 56.09 is Neutral, neither overbought nor oversold. The STOCH value of 63.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NVST.
Envista Holdings Risk Analysis
Envista Holdings disclosed 48 risk factors in its most recent earnings report. Envista Holdings 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
Envista Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $4.51B | 46.85 | 4.10% | ― | 11.89% | 85.76% | |
68 Neutral | $2.44B | -105.43 | -5.38% | ― | 54.04% | 57.31% | |
63 Neutral | $6.09B | -35.55 | -2.67% | ― | 8.85% | 37.70% | |
58 Neutral | $2.31B | -4.08 | -39.81% | 4.95% | -0.76% | 42.34% | |
58 Neutral | $3.49B | -20.74 | -17.49% | ― | 101.28% | 2.49% | |
52 Neutral | $3.03B | -12.13 | -37.17% | ― | ― | -47.00% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
NVST
Envista Holdings
27.64
6.87
33.08%
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Envista Holdings Corporate Events
Executive/Board Changes
Envista Names New Chief Accounting Officer Amid Transition
Neutral
Jun 3, 2026
Envista Holdings announced that Chief Accounting Officer and principal accounting officer Faez Kaabi will retire, having notified the company on May 28, 2026, with his resignation effective August 6, 2026. The company emphasized that his departure...
Executive/Board ChangesShareholder Meetings
Envista Shareholders Back Board, Pay Practices, and Auditor
Positive
May 21, 2026
Envista Holdings Corporation reported the results of its 2026 Annual Meeting of Stockholders held on May 19, 2026, where shareholders elected eight directors, including Wendy Carruthers, Kieran Gallahue, and Paul Keel, to one-year terms expiring a...
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.