Tearsheet

Enovis (ENOV)

Market Price (12/23/2025): $27.195 | Market Cap: $1.6 Bil
Sector: Health Care | Industry: Health Care Equipment

Enovis (ENOV)

Market Price (12/23/2025): $27.195
Market Cap: $1.6 Bil
Sector: Health Care
Industry: Health Care Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Low stock price volatility Vol 12M is 49%	Weak multi-year price returns 2Y Excs Rtn is -95%, 3Y Excs Rtn is -126%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -82 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.7%
1	Megatrend and thematic drivers Megatrends include Aging Population & Chronic Disease, Precision Medicine, and Digital Health & Telemedicine. Themes include Geriatric Care, Show more.	Meaningful short interest Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.53, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 91%
2			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -92%
3			Key risks ENOV key risks include [1] significant goodwill impairment charges and acquisition integration hurdles, Show more.

0	Low stock price volatility Vol 12M is 49%
1	Megatrend and thematic drivers Megatrends include Aging Population & Chronic Disease, Precision Medicine, and Digital Health & Telemedicine. Themes include Geriatric Care, Show more.
2	Weak multi-year price returns 2Y Excs Rtn is -95%, 3Y Excs Rtn is -126%
3	Meaningful short interest Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 11.53, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%
4	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -82 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.7%
5	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 91%
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -92%
7	Key risks ENOV key risks include [1] significant goodwill impairment charges and acquisition integration hurdles, Show more.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022	2021
Share Price CYE	$27.20	$43.88	$56.02	$53.52	$45.97
Market Cap CYE ($ Bil)	1.6	2.5	3.1	2.9	2.5
Total Debt ($ Bil)	1.4	1.4	0.5	0.3	2.2
Total Cash ($ Bil)	0.0	0.0	0.0	0.0	0.7
Enterprise Value ($ Bil)	3.0	3.9	3.6	3.2	4.7
Valuation Ratios
P/S TTM	0.7	1.2	1.8	1.9	1.6
P/EBIT TTM	-1.2	-3.2	-64.4	131.6	-25.4
P/E TTM	-1.1	-2.9	-91.8	-217.7	32.8
P/FCF TTM	68.3	-36.1	239.2	-17.9	9.3
Sector Ratios
P/S TTM (Sector)	4.2	3.5	3.9	4.5	7.1
P/EBIT TTM (Sector)	-1.5	-1.3	-1.4	-1.3	-2.7
P/E TTM (Sector)	-1.7	-1.5	-1.5	-1.3	-2.8
P/FCF TTM (Sector)	-1.5	-1.4	-1.4	-1.5	-3.2

	12/23/25	2024	2023
Share Price CYE	$27.20	$43.88	$56.02
Market Cap CYE ($ Bil)	1.6	2.5	3.1
Total Debt ($ Bil)	1.4	1.4	0.5
Total Cash ($ Bil)	0.0	0.0	0.0
Enterprise Value ($ Bil)	3.0	3.9	3.6
Valuation Ratios
P/S TTM	0.7	1.2	1.8
P/EBIT TTM	-1.2	-3.2	-64.4
P/E TTM	-1.1	-2.9	-91.8
P/FCF TTM	68.3	-36.1	239.2
Sector Ratios
P/S TTM (Sector)	4.2	3.5	3.9
P/EBIT TTM (Sector)	-1.5	-1.3	-1.4
P/E TTM (Sector)	-1.7	-1.5	-1.5
P/FCF TTM (Sector)	-1.5	-1.4	-1.4

	ENOV	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	2.2
Rev Chg Q	8.6%	7.3%
Rev Chg LTM	11.6%	6.0%
Rev Chg 3Y Avg	13.0%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.1
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	-1.4
Op Mgn LTM	-3.7%	18.8%
CFO/Rev LTM	9.7%	20.4%
Net Inc Mgn	-61.2%	13.1%
VALUATION	HIGH
P/S	0.7	3.2
P/CFO	7.2	15.5
P/FCF	68.3	20.7
P/E	-1.1	23.5
STABILITY	POOR
Debt/Equity	0.93	0.21
Cash/Assets	0.01	0.07

AI Analysis | Feedback

Metric	Value	Date	Source
Number of Patents	1239	1012024	Link
Number of Medical Devices	1,000+	1012024	Link
Number of Team Members	7,000+	1012024	Link
Number of Worldwide Facilities	30	1012024	Link
MotionMD Customer Retention Rate	99%	1012024	Link
MotionMD U.S. Clinic Presence	>40%	1012024	Link
Global Extremity Market Share	approximately 8%	1012025	Link

Upcoming
2/25/2026	Earnings Release	Rev: - EPS: -

ENOV Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Here are key points explaining a potential negative stock movement for Enovis (ENOV) from August 31, 2025, to December 23, 2025:

1. Significant Non-Cash Goodwill Impairment Charge: Enovis reported a substantial non-cash goodwill impairment charge of $548 million during its third quarter of 2025, which led to a net loss of $571 million. This large reported loss, despite being non-cash and not impacting future operations, could have negatively influenced investor perception.

2. Divestiture of Diabetic Footcare Business: In October 2025, Enovis completed the divestiture of its Dr. Comfort Diabetic Footcare business unit for proceeds of up to $60 million. While this move was strategic, it resulted in a $15 million reduction in the company's updated full-year 2025 revenue guidance.

Show more Here are key points explaining a potential negative stock movement for Enovis (ENOV) from August 31, 2025, to December 23, 2025:

1. Significant Non-Cash Goodwill Impairment Charge: Enovis reported a substantial non-cash goodwill impairment charge of $548 million during its third quarter of 2025, which led to a net loss of $571 million. This large reported loss, despite being non-cash and not impacting future operations, could have negatively influenced investor perception.

2. Divestiture of Diabetic Footcare Business: In October 2025, Enovis completed the divestiture of its Dr. Comfort Diabetic Footcare business unit for proceeds of up to $60 million. While this move was strategic, it resulted in a $15 million reduction in the company's updated full-year 2025 revenue guidance.

3. Broader Negative Stock Performance and Underperformance: Enovis shares had been significantly underperforming the broader market throughout 2025, with a reported loss of approximately 28.2% since the beginning of the year by early November 2025, and a 37.91% decrease over the preceding 12 months by mid-December 2025. This sustained negative trend likely contributed to continued downward pressure on the stock.

4. Pre-Market Decline Despite Strong Q3 Earnings Beat: Despite surpassing analyst expectations with a robust performance in the third quarter of 2025, including an earnings per share of $0.75 against a forecasted $0.649 and revenue of $549 million exceeding the forecast of $538.61 million, Enovis shares still experienced a pre-market decline of 1.24% on November 6, 2025. This suggests underlying investor concerns that overshadowed the positive financial results.

5. Revised Financial Outlook with Lowered Revenue Guidance: When Enovis updated its financial expectations for the full year 2025, it slightly modified its revenue guidance to $2.24-$2.27 billion, down from prior expectations, primarily due to the Dr. Comfort divestiture. Although adjusted EBITDA and adjusted EPS guidance were raised, the reduction in revenue guidance, even if explained, could have contributed to a cautious outlook among investors. Show less

Stock Movement Drivers

Fundamental Drivers

The -15.9% change in ENOV stock from 9/22/2025 to 12/22/2025 was primarily driven by a -17.5% change in the company's P/S Multiple.

	9222025	12222025	Change
Stock Price ($)	32.35	27.20	-15.92%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2189.58	2233.27	2.00%
P/S Multiple	0.84	0.70	-17.51%
Shares Outstanding (Mil)	57.13	57.17	-0.06%
Cumulative Contribution			-15.92%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
ENOV	-15.9%
Market (SPY)	2.7%	51.3%
Sector (XLV)	13.7%	46.8%

Fundamental Drivers

The -9.2% change in ENOV stock from 6/23/2025 to 12/22/2025 was primarily driven by a -12.0% change in the company's P/S Multiple.

	6232025	12222025	Change
Stock Price ($)	29.96	27.20	-9.21%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2150.19	2233.27	3.86%
P/S Multiple	0.79	0.70	-12.01%
Shares Outstanding (Mil)	56.79	57.17	-0.66%
Cumulative Contribution			-9.22%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
ENOV	-9.2%
Market (SPY)	14.4%	42.2%
Sector (XLV)	18.0%	40.5%

Fundamental Drivers

The -36.9% change in ENOV stock from 12/22/2024 to 12/22/2025 was primarily driven by a -41.9% change in the company's P/S Multiple.

	12222024	12222025	Change
Stock Price ($)	43.12	27.20	-36.92%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2001.67	2233.27	11.57%
P/S Multiple	1.20	0.70	-41.93%
Shares Outstanding (Mil)	55.67	57.17	-2.70%
Cumulative Contribution			-36.97%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
ENOV	-36.9%
Market (SPY)	16.9%	54.8%
Sector (XLV)	14.5%	46.2%

Fundamental Drivers

The -48.5% change in ENOV stock from 12/23/2022 to 12/22/2025 was primarily driven by a -62.2% change in the company's P/S Multiple.

	12232022	12222025	Change
Stock Price ($)	52.86	27.20	-48.54%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1553.45	2233.27	43.76%
P/S Multiple	1.84	0.70	-62.20%
Shares Outstanding (Mil)	54.14	57.17	-5.60%
Cumulative Contribution			-48.70%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
ENOV	-52.3%
Market (SPY)	47.7%	53.2%
Sector (XLV)	18.4%	45.7%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
ENOV Return	5%	20%	16%	5%	-22%	-39%	-26%
Peers Return	10%	1%	-3%	-1%	12%	13%	33%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
ENOV Win Rate	50%	50%	42%	42%	42%	33%
Peers Win Rate	57%	52%	55%	48%	50%	50%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
ENOV Max Drawdown	-60%	-3%	-22%	-18%	-31%	-41%
Peers Max Drawdown	-37%	-11%	-21%	-17%	-7%	-12%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: SYK, ZBH, JNJ, GMED, MDT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique Key	Event	ENOV	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-38.0%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	61.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-62.4%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	165.7%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	294 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-55.5%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	124.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	788 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-80.4%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	410.5%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	875 days	1,480 days

Compare to MMSI, HAE, CNMD, IART, DAVI

In The Past

Enovis's stock fell -38.0% during the 2022 Inflation Shock from a high on 4/20/2022. A -38.0% loss requires a 61.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Enovis (ENOV)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Enovis Corporation operates as a medical technology company worldwide. It develops, manufactures, and distributes medical device products used by orthopedic specialists, surgeons, primary care physicians, pain management specialists, physical therapists, podiatrists, chiropractors, athletic trainers, and other healthcare professionals to treat patients with musculoskeletal conditions resulting from degenerative diseases, deformities, traumatic events, and sports related injuries. It offers rigid and soft orthopedic bracings, hot and cold therapy products, bone growth stimulators, vascular therapy systems and compression garments, therapeutic shoes and inserts, electrical stimulators used for pain management, and physical therapy products; and a suite of reconstructive joint products for the hip, knee, shoulder, elbow, foot, ankle, and finger. Enovis Corporation sells its products through independent distributors, such as healthcare professionals, consumer retail stores, and pharmacies; and directly under the DJO brand. The company was formerly known as Colfax Corporation. Enovis Corporation is headquartered in Wilmington, Delaware.

AI Analysis | Feedback

Here are 1-2 brief analogies for Enovis (ENOV):

Enovis is like Stryker or Zimmer Biomet for comprehensive orthopedic solutions, from braces to joint replacements.
Enovis is like Johnson & Johnson's DePuy Synthes, but as an independent, focused orthopedic company.

AI Analysis | Feedback

Orthopedic Bracing & Supports: Products designed for injury prevention, recovery, and rehabilitation of joints and soft tissues, including brands like DonJoy and Aircast.
Surgical Reconstruction Products: Implants and instrumentation used for joint replacement surgeries, particularly in the shoulder, elbow, and ankle.
Surgical Soft Tissue & Extremity Products: Solutions for arthroscopic procedures, soft tissue repair, and internal fixation for injuries in the hand, wrist, foot, and ankle.
Vascular & Pain Therapy Devices: Medical devices focused on deep vein thrombosis (DVT) prevention and electrotherapy for pain management and recovery.

AI Analysis | Feedback

Enovis (symbol: ENOV) primarily sells its medical technology products to other companies and healthcare institutions, operating on a business-to-business (B2B) model.

Enovis does not publicly disclose specific named companies that constitute major customers (e.g., accounting for a significant portion of their revenue). This is typical for diversified medical technology companies that sell to a broad and fragmented base of healthcare providers globally. Instead, their customer base is categorized as follows:

Hospitals and Surgery Centers: These healthcare institutions are major purchasers of Enovis's surgical solutions, including joint reconstruction implants, trauma fixation devices, and spine technologies. They represent a significant segment for high-value surgical products.
Orthopedic Clinics and Practices: Individual and group orthopedic surgeons, physical therapists, and other healthcare professionals operating in clinics and private practices are key customers for Enovis's non-surgical products, such as orthopedic bracing, rehabilitation devices, and restorative therapies.
Medical Equipment Wholesalers and Distributors: These companies act as intermediaries, purchasing Enovis products to then sell and distribute them to a wider network of healthcare providers, particularly in international markets and for certain product lines.

As specific named public companies that serve as major customers are not disclosed by Enovis, no corresponding symbols can be provided.

AI Analysis | Feedback

null

AI Analysis | Feedback

Damien McDonald, Chief Executive Officer

Damien McDonald joined Enovis as CEO on May 12, 2025, bringing over 35 years of experience in the medical device industry. Prior to Enovis, he served as CEO of LivaNova, a global business focused on medical devices, where he improved growth, profitability, and shareholder value. His career also includes leadership roles at MedTech, including Group Executive and Corporate Vice President for dental consumables companies at Danaher, leading Zimmer's spine division, and spearheading global marketing for Johnson & Johnson's Ethicon business unit.

Ben Berry, Chief Financial Officer

Ben Berry has served as Chief Financial Officer and Senior Vice President of Enovis since January 2023, having joined the company in 2020. He has demonstrated strong financial leadership throughout his career in the medical technology sector. Before joining Enovis, Mr. Berry spent 18 years at Alcon, where he held finance leadership roles with increasing responsibility in strategy, operations, and business process improvement, including during Alcon's launch as an independent public company. At Enovis, he has been instrumental in strengthening financial teams and processes, contributing to improved operating performance and profit margins, and playing a key role in the company's growth strategy, including acquisitions.

Brady R. Shirley, Executive Advisor and Director

Brady Shirley has served as a director of Enovis since April 1, 2025, following his retirement as President and Chief Operating Officer of Enovis in April 2024, and now serves as an Executive Advisor. He previously served as Chief Executive Officer of DJO Global. Mr. Shirley joined DJO in 2014 as President of the DJO Surgical business and was appointed CEO in 2016, leading the transaction into Colfax (now Enovis) in 2019. From 2009 to 2013, he was CEO and a Director of Innovative Medical Device Solutions (IMDS), where he oversaw the integration of four companies, consolidated the capital structure, and led a successful sale of the business in 2013. His earlier career includes various leadership positions at Stryker Corporation from 1992 to 2009.

Patricia Lang, Senior Vice President and Chief Human Resources Officer

Patricia Lang serves as the Senior Vice President and Chief Human Resources Officer for Enovis, a role she has held since 2019.

Bradley J. Tandy, Senior Vice President and Chief Legal Officer

Bradley J. Tandy is the Senior Vice President and Chief Legal Officer at Enovis, having assumed this role in 2019. Prior to joining Enovis, he held the position of Executive Vice President, General Counsel, and Secretary at DJO Global.

AI Analysis | Feedback

Key Risks to Enovis (ENOV)

Goodwill Impairment and Acquisition-Related Risks: Enovis recorded a significant non-cash goodwill impairment charge of $548 million in the third quarter of 2025, which heavily contributed to a substantial net loss. This impairment was primarily driven by a decrease in the company's share price and market capitalization, highlighting the risks associated with large-scale acquisitions and the potential overvaluation of past acquisitions. Integration hurdles from rapid acquisitions, such as the Lima shoulder portfolio, could also undermine margins and growth.
Regulatory and Compliance Risks: As a global medical technology company, Enovis operates within a highly regulated environment. The company faces stringent and complex healthcare laws and regulations across various jurisdictions. Failure to comply with these regulations can lead to significant penalties, legal challenges, and reputational damage, thereby impacting financial performance and market position.
High Leverage and Negative Free Cash Flow: Enovis's balance sheet indicates substantial liabilities, with total liabilities exceeding cash and near-term receivables by approximately US$1.70 billion, relative to its market capitalization of US$1.96 billion as of May 2025. This high level of leverage, coupled with substantial negative free cash flow in the past year, presents a significant financial risk to the business.

AI Analysis | Feedback

null

AI Analysis | Feedback

Enovis (NYSE: ENOV) operates in the medical technology sector, focusing on orthopedic solutions across two main segments: Reconstructive and Prevention & Recovery. The addressable markets for their main products and services are substantial, with various segments exhibiting significant global and regional market sizes.

Reconstructive Segment

This segment includes orthopedic implants for hip, knee, shoulder, elbow, foot, ankle, and finger, along with surgical productivity solutions.

Hip and Knee Reconstruction: The global market for hip and knee reconstruction is estimated at USD 23.88 billion in 2025 and is projected to grow to USD 41.07 billion by 2035.
Trauma and Extremities Devices (including foot, ankle, hand, wrist, and elbow implants): The global market size for trauma and extremities devices was valued at USD 14.17 billion in 2023 and is projected to reach USD 24.90 billion by 2034. North America held a significant share of this market, accounting for 46.2% in 2023. Separately, the global extremity products market size was over USD 12.73 billion in 2024 and is poised to exceed USD 29.22 billion by 2037, with North America expected to hold the largest revenue share of 46% by 2037.
Upper Extremity Reconstruction (specifically shoulder, elbow, hand, and wrist): The global market is estimated at USD 6.5 billion in 2025 and is projected to reach approximately USD 11.5 billion by 2033. North America is poised to dominate this market.
Shoulder Reconstruction Devices: The global shoulder reconstruction device market was valued at over USD 2.1 billion in 2024 and is expected to increase to over USD 3.4 billion by 2031. The broader shoulder replacement market size is estimated at USD 2.24 billion in 2025 and is expected to reach USD 3.12 billion by 2030, with North America leading with a 39.81% share in 2024.

Prevention & Recovery Segment

This segment encompasses products such as rigid bracing, orthopedic soft goods, vascular systems, compression garments, hot and cold therapy products, bone growth stimulators, and electrical stimulators.

Orthopedic Braces and Supports: The global orthopedic braces and supports market, which includes various types of braces and supports for the knee, ankle, foot, back, hip, spine, shoulder, elbow, hand, wrist, and face, was valued at US$4.0 billion in 2025 and is projected to reach US$5.5 billion by 2030. Another estimate places the global orthopedic braces and supports market size at USD 4.67 billion in 2024, projected to reach USD 7.006 billion by 2030. North America held the largest market share in this segment in 2024, with a revenue share of 35.83%.

AI Analysis | Feedback

Enovis (ENOV) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

Product Innovation and New Product Launches: Enovis is consistently investing in research and development to bring new and advanced medical technologies to market. This includes ongoing product innovations aimed at addressing unmet clinical needs and improving patient outcomes. Examples include the successful launch and planned broader expansion of the ARVIS Ultra system in Q1 and Q2 of 2026, as well as the traction gained by the Augmented Reverse Glenoid System (ARG) and other products in the pipeline.
Strategic Acquisitions and Integration: Acquisitions are a significant part of Enovis's growth strategy, allowing the company to expand its product portfolio, market reach, and access to new technologies. The successful integration of recent acquisitions, such as Lima, has been a key catalyst for growth, particularly in international sales, by leveraging cross-selling synergies across various anatomies.
International Market Expansion: Enovis is focused on expanding its global footprint to tap into new customer bases and diversify revenue streams. International sales, particularly in the Recon segment, have shown strong growth, driven by strategic initiatives and the integration of acquired businesses like Lima. The company's global presence across North America, Europe, Asia Pacific, and other regions supports this expansion.
Organic Growth in the Reconstructive (Recon) Segment: The Reconstructive segment is a significant driver of organic growth for Enovis, with consistent high single-digit growth. This growth is fueled by strong performance in various anatomies, including hips, knees, and extremities, and is expected to continue to outpace the market rate.
Operational Excellence and Productivity Improvements: Enovis emphasizes operational efficiency and cost management, which contribute to improved adjusted gross margins and EBITDA. These productivity improvements in manufacturing and supply chain operations, along with a favorable product mix, bolster the company's financial health and provide resources for continued investment in growth initiatives.

AI Analysis | Feedback

Share Issuance

Enovis expected to issue approximately €100 million in common stock as part of the €800 million acquisition of Lima Corporate S.p.A., which was announced in September 2023 and expected to close in early 2024.
The company underwent a one-for-three reverse stock split immediately following the separation of ESAB Corporation in April 2022.

Outbound Investments

Enovis entered into a definitive agreement to acquire Lima Corporate S.p.A., a global orthopedic leader, for €800 million (approximately $860 million) in September 2023, with the transaction expected to close in early 2024.
In October 2025, Enovis completed the sale of its Dr. Comfort Footcare Solutions business for proceeds of up to $60 million, consisting of an upfront cash payment of $45 million and up to an additional $15 million contingent on future performance.
The company completed seven small acquisitions in the first and second quarters of 2025, including a distributor, intellectual property, and Prevention & Recovery businesses, totaling $35 million in consideration.

Capital Expenditures

Cash flows used in investing activities for capital expenditures were $122.2 million in 2023.
Capital expenditures totaled $105.5 million in 2022.
In 2021, capital expenditures amounted to $104.2 million.

Better Bets than Enovis (ENOV)

Intuitive Surgical

SECTOR: Health Care

Higher Rev Chg 3Y Avg | Lower P/S (Values for ENOV: 13.0% | 0.7x)

CI (13.6% | 0.3x)

Cigna

BTSG (24.3% | 0.6x)

BrightSpring Health Services

OSCR (46.4% | 0.3x)

Oscar Health

ASTH (41.6% | 0.4x)

Astrana Health

EVH (22.7% | 0.2x)

Evolent Health

Higher Rev Chg LTM (Value for ENOV: 11.6%)

LLY (36.8%)

Eli Lilly

ISRG (22.2%)

Intuitive Surgical

BSX (21.6%)

Boston Scientific

MCK (17.2%)

McKesson

ELV (12.0%)

Elevance Health

Higher Rev Chg 3Y Avg (Value for ENOV: 13.0%)

ALNY (51.4%)

Alnylam Pharmaceuticals

LLY (23.4%)

Eli Lilly

ISRG (16.3%)

Intuitive Surgical

BSX (15.6%)

Boston Scientific

CI (13.6%)

Cigna

Higher Op Mgn LTM (Value for ENOV: -3.7%)

LLY (43.0%)

Eli Lilly

MRK (34.9%)

Merck

JNJ (26.2%)

Johnson & Johnson

ABBV (24.1%)

AbbVie

UNH (6.1%)

UnitedHealth

Higher CFO/Rev LTM (Value for ENOV: 9.7%)

ABBV (35.0%)

AbbVie

MRK (26.6%)

Merck

JNJ (26.3%)

Johnson & Johnson

ABT (20.8%)

Abbott Laboratories

LLY (20.5%)

Eli Lilly

Higher FCF/Rev LTM (Value for ENOV: 1.0%)

ABBV (33.0%)

AbbVie

MRK (20.3%)

Merck

JNJ (20.3%)

Johnson & Johnson

ABT (15.8%)

Abbott Laboratories

UNH (4.0%)

UnitedHealth

Higher Total Yield (Value for ENOV: -87.9%)

MRK (10.4%)

Merck

UNH (8.6%)

UnitedHealth

JNJ (7.5%)

Johnson & Johnson

ABBV (3.4%)

AbbVie

LLY (1.9%)

Eli Lilly

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for ENOV: 13.0% | 0.7x)

UAL (13.2% | 0.6x)

United Airlines

SW (55.9% | 0.6x)

Smurfit WestRock

ALK (16.5% | 0.4x)

Alaska Air

GXO (13.7% | 0.5x)

GXO Logistics

GPI (13.0% | 0.2x)

Group 1 Automotive

Higher Rev Chg LTM (Value for ENOV: 11.6%)

NVDA (65.2%)

NVIDIA

AVGO (23.9%)

Broadcom

META (21.3%)

Meta Platforms

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

Higher Rev Chg 3Y Avg (Value for ENOV: 13.0%)

NVDA (91.6%)

NVIDIA

AVGO (25.2%)

Broadcom

BRK-B (19.8%)

Berkshire Hathaway

META (17.3%)

Meta Platforms

MSFT (13.2%)

Microsoft

Higher Op Mgn LTM (Value for ENOV: -3.7%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

AMZN (11.4%)

Amazon.com

Higher CFO/Rev LTM (Value for ENOV: 9.7%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for ENOV: 1.0%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

AMZN (2.0%)

Amazon.com

Higher Total Yield (Value for ENOV: -87.9%)

MSFT (3.6%)

Microsoft

GOOGL (3.6%)

Alphabet

AMZN (2.9%)

Amazon.com

AAPL (2.8%)

Apple

NVDA (2.2%)

NVIDIA

		Best Bets In Health Care Sector
	ENOV	RPRX	HALO	DOCS	CPRX	HRMY	LGND	ISRG	GMED	MD	HIMS
What You Pay
P/E	-1.1	21.9	13.4	33.4	13.7	12.0	79.8	75.3	28.4	11.5	59.3
P/EBIT	-1.2	10.6	10.5	34.2	11.5	9.1	58.0	73.4	27.7	7.7	69.0
What You Get
Rev Chg Q	8.6%	7.9%	22.1%	23.2%	15.3%	28.7%	122.8%	22.9%	22.9%	-3.6%	49.2%
Rev Chg LTM	11.6%	3.7%	31.2%	20.2%	25.6%	21.1%	64.8%	22.2%	11.7%	-4.2%	78.0%
Rev Chg 3Y Avg	13.0%	1.5%	29.0%	17.4%	46.5%	27.4%	16.0%	16.3%	45.6%	-0.5%	71.0%
FCF/Rev 3Y Avg	-2.7%	115.2%	45.0%	42.7%	34.2%	33.2%	23.9%	16.5%	14.3%	8.9%	6.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.9%, and sharpe of 0.52

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Enovis Earnings Notes
2	Why Enovis Stock Moved: ENOV Stock Has Lost 53% Since 2023 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
3	ENOV Dip Buy Analysis
4	Enovis (ENOV) Valuation Ratios Comparison	Financials
5	ENOV Dip Buy Analysis
6	Enovis Total Shareholder Return (TSR): -21.7% in 2024 and -1.5% 3-yr compounded annual returns (above peer average)
7	Time To Buy Enovis Stock?	Buy or Fear
8	Enovis (ENOV) Operating Cash Flow Comparison	Financials
9	Enovis (ENOV) Net Income Comparison	Financials
10	Enovis (ENOV) Operating Income Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select ideas related to ENOV. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CRL_11142025_Dip_Buyer_FCFYield	11142025	CRL	Charles River Laboratories International	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	21.0%	21.0%	-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11142025	GDRX	GoodRx	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-8.8%	-8.8%	-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	ASTH	Astrana Health	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	11.5%	11.5%	-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11142025	SGRY	Surgery Partners	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	2.7%	2.7%	-1.4%
TFX_11072025_Dip_Buyer_FCFYield	11072025	TFX	Teleflex	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	13.8%	13.8%	-5.1%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for Enovis

Peers to compare with:

Financials

	ENOV	SYK	ZBH	JNJ	GMED	MDT	Median
Name	Enovis	Stryker	Zimmer B.	Johnson .	Globus M.	Medtronic
Mkt Price	27.20	356.52	89.80	207.32	89.36	97.71	93.75
Mkt Cap	1.6	136.3	17.8	499.3	12.0	125.3	71.5
Rev LTM	2,233	24,381	8,011	92,149	2,770	34,758	16,196
Op Inc LTM	-82	4,785	1,497	24,146	434	6,719	3,141
FCF LTM	23	4,073	1,409	18,679	570	5,206	2,741
FCF 3Y Avg	-47	3,282	1,156	17,814	331	4,917	2,219
CFO LTM	217	4,832	1,686	24,204	715	7,113	3,259
CFO 3Y Avg	114	3,952	1,502	23,209	444	6,626	2,727

Growth & Margins

	ENOV	SYK	ZBH	JNJ	GMED	MDT	Median
Name	Enovis	Stryker	Zimmer B.	Johnson .	Globus M.	Medtronic
Rev Chg LTM	11.6%	11.0%	5.5%	5.1%	11.7%	5.3%	8.2%
Rev Chg 3Y Avg	13.0%	10.8%	5.1%	6.1%	45.6%	4.1%	8.4%
Rev Chg Q	8.6%	10.2%	9.7%	6.8%	22.9%	6.6%	9.2%
QoQ Delta Rev Chg LTM	2.0%	2.4%	2.3%	1.7%	5.5%	1.6%	2.1%
Op Mgn LTM	-3.7%	19.6%	18.7%	26.2%	15.7%	19.3%	19.0%
Op Mgn 3Y Avg	-4.1%	19.5%	19.1%	26.4%	13.9%	18.6%	18.9%
QoQ Delta Op Mgn LTM	0.9%	0.0%	-0.1%	1.7%	2.4%	-0.1%	0.5%
CFO/Rev LTM	9.7%	19.8%	21.0%	26.3%	25.8%	20.5%	20.8%
CFO/Rev 3Y Avg	5.4%	17.8%	19.6%	26.4%	19.7%	19.9%	19.7%
FCF/Rev LTM	1.0%	16.7%	17.6%	20.3%	20.6%	15.0%	17.1%
FCF/Rev 3Y Avg	-2.7%	14.7%	15.1%	20.3%	14.3%	14.8%	14.8%

Valuation

	ENOV	SYK	ZBH	JNJ	GMED	MDT	Median
Name	Enovis	Stryker	Zimmer B.	Johnson .	Globus M.	Medtronic
Mkt Cap	1.6	136.3	17.8	499.3	12.0	125.3	71.5
P/S	0.7	5.6	2.2	5.4	4.3	3.6	4.0
P/EBIT	-1.2	28.5	13.6	15.4	27.7	19.5	17.5
P/E	-1.1	46.3	22.1	19.9	28.4	26.3	24.2
P/CFO	7.2	28.2	10.6	20.6	16.8	17.6	17.2
Total Yield	-87.9%	3.1%	5.6%	7.5%	3.5%	6.7%	4.6%
Dividend Yield	0.0%	0.9%	1.1%	2.5%	0.0%	2.9%	1.0%
FCF Yield 3Y Avg	-1.6%	2.6%	5.5%	4.4%	4.2%	4.3%	4.3%
D/E	0.9	0.1	0.5	0.1	0.0	0.2	0.2
Net D/E	0.9	0.1	0.4	0.1	-0.0	0.2	0.1

Returns

	ENOV	SYK	ZBH	JNJ	GMED	MDT	Median
Name	Enovis	Stryker	Zimmer B.	Johnson .	Globus M.	Medtronic
1M Rtn	-5.5%	-3.2%	-2.6%	1.7%	3.9%	-3.4%	-2.9%
3M Rtn	-15.9%	-5.5%	-11.5%	19.8%	57.3%	3.3%	-1.1%
6M Rtn	-9.2%	-5.6%	-1.4%	38.9%	54.6%	15.5%	7.1%
12M Rtn	-36.9%	-1.3%	-15.4%	47.9%	8.1%	24.5%	3.4%
3Y Rtn	-48.5%	51.2%	-27.4%	28.0%	21.0%	38.0%	24.5%
1M Excs Rtn	-3.8%	-6.3%	-4.4%	-3.1%	3.4%	-6.8%	-4.1%
3M Excs Rtn	-16.0%	-7.9%	-13.8%	14.8%	54.1%	-0.4%	-4.2%
6M Excs Rtn	-27.8%	-20.2%	-15.2%	25.2%	39.4%	2.4%	-6.4%
12M Excs Rtn	-54.3%	-17.0%	-31.5%	30.5%	-7.9%	9.0%	-12.4%
3Y Excs Rtn	-126.1%	-26.7%	-104.1%	-48.6%	-53.1%	-37.7%	-50.8%

Comparison Analyses

	Title
0	Enovis Corporation vs. Merit Medical Systems: With Return Forecast Of 29%, Merit Medical Systems Is A Better Bet

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	10/3/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/26/2025	2/22/2024	3/1/2023	2/22/2022	2/18/2021	2/24/2020
Key Financials
Total Revenue	2,233	2,108	1,707	1,563	1,426	1,121	3,327
EBITDA	-995	-481	170	242	170	180	406
Operating Income	-82	-103	-48	-91	-54	-49	269
Net Income	-1,367	-825	-33	-13	72	43	-528
EPS	-23.66	-14.93	-0.61	-0.25	1.40	0.93	-11.67
Growth Rates
Total Revenue Growth	11.6%	23.5%	9.2%	9.6%	27.3%	-66.3%	51.7%
EBITDA Growth	-660.0%	-383.4%	-29.8%	42.0%	-5.4%	-55.7%	43.3%
Operating Income Growth	7.3%	-113.8%	46.6%	-67.5%	-9.5%	-118.4%	48.9%
Net Income Growth	-1047.0%	-2381.9%	-150.2%	-118.5%	68.1%	108.1%	-476.4%
Margins
EBITDA Margin	-44.6%	-22.8%	9.9%	15.5%	11.9%	16.1%	12.2%
Operating Income Margin	-3.7%	-4.9%	-2.8%	-5.8%	-3.8%	-4.4%	8.1%
Net Income Margin	-61.2%	-39.2%	-1.9%	-0.9%	5.0%	3.8%	-15.9%
Cash & Debt
Total Cash	34	48	36	24	680	97	110
Total Debt	1,441	1,404	536	335	2,165	2,410	2,488
Net Debt / (Cash)	1,408	1,356	500	311	1,485	2,313	2,379
Cash Flows
Net Cash from Operations	217	114	135	-56	356	302	131
Free Cash from Operations	23	-67	13	-161	252	187	6
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	10/3/2025	7/4/2025	4/4/2025	12/31/2024	9/27/2024	6/28/2024	3/29/2024	12/31/2023	9/29/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/8/2025	2/26/2025	11/6/2024	8/7/2024	5/2/2024	2/22/2024	11/7/2023	8/3/2023	5/4/2023	3/1/2023
Key Financials Quarterly
Total Revenue	549	565	559	561	505	525	516	455	418	429	406	409
Ebitda	-484	55	23	-590	40	55	14	69	36	38	28	56
Operating Income	-8	-16	-43	-15	-27	-40	-22	-0	-15	-11	-22	-23
Net Income	-571	-37	-56	-703	-32	-19	-72	3	-3	-10	-23	-39
EPS	-9.99	-0.64	-0.98	-12.05	-0.58	-0.34	-1.32	0.05	-0.05	-0.18	-0.43	-0.71
Key Financials TTM
Total Revenue TTM	2,233	2,190	2,150	2,108	2,002	1,914	1,817	1,707	1,661	1,627	1,594	1,563
Ebitda TTM	-995	-472	-472	-481	178	174	156	170	157	100	234	242
Operating Income TTM	-82	-101	-124	-103	-89	-77	-48	-48	-71	-70	-85	-91
Net Income TTM	-1,367	-828	-809	-825	-119	-91	-82	-33	-75	-139	-52	-13
Growth Rates Quarterly
Total Revenue Growth	8.6%	7.5%	8.2%	23.3%	21.0%	22.6%	27.1%	11.3%	8.8%	8.4%	8.2%	2.4%
EBITDA Growth	-1318.5%	-0.3%	64.4%	-961.4%	11.1%	46.5%	-48.9%	22.8%	263.9%	-78.1%	-21.8%	18.6%
Operating Income Growth	69.5%	59.4%	-94.1%	-7336.6%	-76.1%	-270.8%	1.0%	99.1%	-8.6%	57.6%	20.8%	-58.0%
Net Income Growth	-1712.0%	-97.1%	22.3%	-23829.3%	-994.5%	-86.5%	-208.3%	107.7%	95.7%	-113.0%	-255.0%	-1924.3%
Margins Quarterly
EBITDA Margin	-88.1%	9.8%	4.2%	-105.2%	7.9%	10.5%	2.7%	15.1%	8.6%	8.8%	6.8%	13.7%
Operating Income Margin	-1.5%	-2.8%	-7.7%	-2.7%	-5.3%	-7.5%	-4.3%	-0.0%	-3.6%	-2.5%	-5.5%	-5.7%
Net Income Margin	-104.1%	-6.5%	-10.0%	-125.4%	-6.2%	-3.5%	-13.9%	0.7%	-0.7%	-2.3%	-5.7%	-9.4%
Cash & Debt
Total Cash	34	44	38	48	35	35	66	36	32	32	22	24
Total Debt	1,441	1,465	1,459	1,404	1,414	1,417	1,413	536	465	470	357	335
Net Debt / (Cash)	1,408	1,421	1,420	1,356	1,379	1,382	1,347	500	433	437	336	311
Cash Flows Quarterly
FCF from Operations	83	48	-2	88	54	8	-36	68	31	28	7	-36
Cash Flows TTM
FCF from Operations TTM	217	188	148	114	94	71	91	135	31	19	-34	-56
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-0.7%	-1.5%	-3.8%	-1.4%	-2.0%	-2.5%	-1.9%	-0.0%	-1.4%	-1.0%	-2.1%	-2.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-1.9%	-2.3%	-2.8%	-2.5%	-1.8%	-1.6%	-1.0%	-1.1%	-2.1%	-2.1%	-2.6%	-2.8%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Prevention and Recovery	1,077	1,028	1,026
Reconstructive	630	535	400
Fabrication technology				1,950	2,247
Medical Technology				1,121	1,080
Total	1,707	1,563	1,426	3,071	3,327

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Prevention and Recovery	2,414	2,471	2,967
Reconstructive	2,095	1,802	1,855
Corporate and other				385	397
Fabrication technology				3,391	3,509
Medical Technology				3,576	3,481
Total	4,509	4,273	4,821	7,352	7,387

Price Behavior

Price Behavior

Market Price	$27.20
Market Cap ($ Bil)	1.6
First Trading Date	05/29/2008
Distance from 52W High	-43.3%
	50 Days	200 Days
DMA Price	$29.63	$31.68
DMA Trend	down	down
Distance from DMA	-8.2%	-14.1%
	3M	1YR
Volatility	48.5%	49.5%
Downside Capture	208.33	158.56
Upside Capture	97.69	88.94
Correlation (SPY)	50.7%	54.7%

ENOV Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.74	2.15	2.17	2.05	1.40	1.28
Up Beta	4.44	3.18	3.62	3.33	1.53	1.51
Down Beta	-1.03	2.36	2.31	2.45	1.32	1.31
Up Capture	297%	176%	146%	117%	95%	70%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	20	30	58	110	347
Down Capture	275%	182%	185%	169%	131%	106%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	19	30	62	133	397

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of ENOV With Other Asset Classes (Last 1Y)
	ENOV	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-40.4%	13.6%	14.7%	67.3%	6.8%	-0.5%	-16.6%
Annualized Volatility	49.4%	17.3%	19.7%	19.3%	15.2%	17.6%	35.4%
Sharpe Ratio	-0.89	0.57	0.57	2.54	0.23	-0.18	-0.25
Correlation With Other Assets		46.7%	55.5%	5.3%	17.7%	46.1%	31.3%

ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of ENOV With Other Asset Classes (Last 5Y)
	ENOV	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-5.4%	8.7%	15.0%	18.9%	11.8%	5.1%	35.8%
Annualized Volatility	50.9%	14.5%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	0.04	0.42	0.71	0.98	0.51	0.18	0.63
Correlation With Other Assets		31.0%	37.6%	4.8%	10.0%	33.9%	15.7%

Based On 10-Year Data

		Comparison of ENOV With Other Asset Classes (Last 10Y)
	ENOV	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	1.5%	10.0%	14.9%	14.9%	6.7%	5.5%	69.9%
Annualized Volatility	48.9%	16.7%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.20	0.50	0.71	0.84	0.30	0.23	0.90
Correlation With Other Assets		42.8%	51.7%	0.7%	24.1%	43.4%	13.1%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	8,424,563
Short Interest: % Change Since 11152025	8.6%
Average Daily Volume	730,783
Days-to-Cover Short Interest	11.53
Basic Shares Quantity	57,169,061
Short % of Basic Shares	14.7%

Returns Analyses

null

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/6/2025	-9.7%	-0.8%	-15.0%
8/7/2025	10.7%	14.9%	24.7%
5/8/2025	-3.4%	5.8%	-7.2%
2/26/2025	-5.0%	-13.0%	-6.9%
11/6/2024	8.3%	8.3%	10.6%
8/7/2024	-3.4%	3.0%	2.7%
5/2/2024	-5.9%	-8.5%	-9.3%
2/22/2024	5.9%	0.8%	-0.0%
...
SUMMARY STATS
# Positive	9	10	9
# Negative	13	12	13
Median Positive	5.6%	6.1%	10.6%
Median Negative	-3.9%	-7.0%	-9.3%
Max Positive	10.7%	20.6%	30.8%
Max Negative	-9.7%	-13.0%	-55.3%

	Forward Returns
11/6/2025	-9.7%	-0.8%	-15.0%
8/7/2025	10.7%	14.9%	24.7%
5/8/2025	-3.4%	5.8%	-7.2%
2/26/2025	-5.0%	-13.0%	-6.9%
11/6/2024	8.3%	8.3%	10.6%
8/7/2024	-3.4%	3.0%	2.7%
5/2/2024	-5.9%	-8.5%	-9.3%
2/22/2024	5.9%	0.8%	-0.0%
10/19/2023	-7.5%	-8.9%	4.9%
8/3/2023	-6.1%	-9.9%	-10.8%
5/4/2023	-1.7%	-4.3%	-3.9%
2/23/2023	-6.4%	-6.9%	-19.6%
11/2/2022	-3.4%	6.4%	14.0%
8/4/2022	-3.7%	-2.6%	-16.5%
2/22/2022	1.4%	-2.7%	-1.9%
11/4/2021	0.0%	-3.4%	-14.9%
7/28/2021	2.9%	1.4%	5.9%
4/29/2021	-1.3%	-7.0%	-2.5%
2/18/2021	5.6%	20.6%	16.2%
10/29/2020	-3.9%	1.8%	30.8%
8/6/2020	1.4%	12.1%	4.7%
2/21/2020	6.1%	-8.8%	-55.3%
SUMMARY STATS
# Positive	9	10	9
# Negative	13	12	13
Median Positive	5.6%	6.1%	10.6%
Median Negative	-3.9%	-7.0%	-9.3%
Max Positive	10.7%	20.6%	30.8%
Max Negative	-9.7%	-13.0%	-55.3%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 10/3/2025
6302025	8072025	10-Q 7/4/2025
3312025	5082025	10-Q 4/4/2025
12312024	2262025	10-K 12/31/2024
9302024	11062024	10-Q 9/27/2024
6302024	8072024	10-Q 6/28/2024
3312024	5022024	10-Q 3/29/2024
12312023	2222024	10-K 12/31/2023
9302023	11072023	10-Q 9/29/2023
6302023	8032023	10-Q 6/30/2023
3312023	5042023	10-Q 3/31/2023
12312022	3012023	10-K 12/31/2022
9302022	11022022	10-Q 9/30/2022
6302022	8042022	10-Q 7/1/2022
3312022	5102022	10-Q 4/1/2022
12312021	2222022	10-K 12/31/2021

Insider Activity

Expand for Morenull

Industry Resources

Health Care Resources

U.S. National Library of Medicine

Health Data Management

FDA Tracker

Health Care Equipment Resources

MedTech Dive

MassDevice

Fierce Medical Devices

Medical Device and Diagnostic Industry

MD+DI

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Enovis (ENOV)

Market Price (12/23/2025): $27.195 | Market Cap: $1.6 BilSector: Health Care | Industry: Health Care Equipment

Enovis (ENOV)

Market Price (12/23/2025): $27.195Market Cap: $1.6 BilSector: Health CareIndustry: Health Care Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

ENOV Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Enovis (ENOV)

Key Risks to Enovis (ENOV)

Reconstructive Segment

Prevention & Recovery Segment

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Enovis (ENOV)

INDUSTRY: Health Care Equipment

Higher Rev Chg LTM (Value for ENOV: 11.6%)

Higher Rev Chg 3Y Avg (Value for ENOV: 13.0%)

Higher Op Mgn LTM (Value for ENOV: -3.7%)

Higher CFO/Rev LTM (Value for ENOV: 9.7%)

Higher FCF/Rev LTM (Value for ENOV: 1.0%)

Higher Total Yield (Value for ENOV: -87.9%)

SECTOR: Health Care

Higher Rev Chg 3Y Avg | Lower P/S (Values for ENOV: 13.0% | 0.7x)

Higher Rev Chg LTM (Value for ENOV: 11.6%)

Higher Rev Chg 3Y Avg (Value for ENOV: 13.0%)

Higher Op Mgn LTM (Value for ENOV: -3.7%)

Higher CFO/Rev LTM (Value for ENOV: 9.7%)

Higher FCF/Rev LTM (Value for ENOV: 1.0%)

Higher Total Yield (Value for ENOV: -87.9%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for ENOV: 13.0% | 0.7x)

Higher Rev Chg LTM (Value for ENOV: 11.6%)

Higher Rev Chg 3Y Avg (Value for ENOV: 13.0%)

Higher Op Mgn LTM (Value for ENOV: -3.7%)

Higher CFO/Rev LTM (Value for ENOV: 9.7%)

Higher FCF/Rev LTM (Value for ENOV: 1.0%)

Higher Total Yield (Value for ENOV: -87.9%)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Enovis

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Market Price (12/23/2025): $27.195 | Market Cap: $1.6 Bil
Sector: Health Care | Industry: Health Care Equipment

Market Price (12/23/2025): $27.195
Market Cap: $1.6 Bil
Sector: Health Care
Industry: Health Care Equipment