Tearsheet

Envista (NVST)

Market Price (12/27/2025): $21.99 | Market Cap: $3.7 Bil
Sector: Health Care | Industry: Health Care Supplies

Envista (NVST)

Market Price (12/27/2025): $21.99
Market Cap: $3.7 Bil
Sector: Health Care
Industry: Health Care Supplies

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

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%	Trading close to highs Dist 52W High is -2.0%	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 239x
1	Attractive yield FCF Yield is 7.2%	Weak multi-year price returns 2Y Excs Rtn is -56%, 3Y Excs Rtn is -114%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.8%
2	Low stock price volatility Vol 12M is 39%		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 -3.7%
3	Megatrend and thematic drivers Megatrends include Digital Health & Telemedicine, and Precision Medicine. Themes include AI in Healthcare Management, Health Data Analytics, Show more.		Key risks NVST key risks include [1] significant geopolitical and currency exposure due to generating approximately 70% of its revenue internationally and [2] the negative impact of China's Volume-Based Procurement (VBP) policy on its orthodontics segment.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%
1	Attractive yield FCF Yield is 7.2%
2	Low stock price volatility Vol 12M is 39%
3	Megatrend and thematic drivers Megatrends include Digital Health & Telemedicine, and Precision Medicine. Themes include AI in Healthcare Management, Health Data Analytics, Show more.
4	Trading close to highs Dist 52W High is -2.0%
5	Weak multi-year price returns 2Y Excs Rtn is -56%, 3Y Excs Rtn is -114%
6	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 239x
7	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.8%
8	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 -3.7%
9	Key risks NVST key risks include [1] significant geopolitical and currency exposure due to generating approximately 70% of its revenue internationally and [2] the negative impact of China's Volume-Based Procurement (VBP) policy on its orthodontics segment.

Valuation, Metrics & Events

	12/27/25	2024	2023	2022	2021
Share Price CYE	$21.99	$19.29	$24.06	$33.67	$45.06
Market Cap CYE ($ Bil)	3.7	3.3	4.1	5.5	7.3
Total Debt ($ Bil)	1.6	1.5	1.7	1.5	1.5
Total Cash ($ Bil)	1.1	1.1	0.9	0.6	1.1
Enterprise Value ($ Bil)	4.1	4.8	5.8	7.0	8.8
Valuation Ratios
P/S TTM	1.4	1.3	1.6	2.1	2.9
P/EBIT TTM	19.0	-3.2	472.4	17.0	23.5
P/E TTM	238.7	-3.0	-40.1	22.6	21.3
P/FCF TTM	13.9	11.0	18.5	51.3	23.7
Sector Ratios
P/S TTM (Sector)	4.3	3.5	3.9	4.5	7.1
P/EBIT TTM (Sector)	-1.5	-1.3	-1.4	-1.3	-2.6
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

	12/27/25	2024	2023
Share Price CYE	$21.99	$19.29	$24.06
Market Cap CYE ($ Bil)	3.7	3.3	4.1
Total Debt ($ Bil)	1.6	1.5	1.7
Total Cash ($ Bil)	1.1	1.1	0.9
Enterprise Value ($ Bil)	4.1	4.8	5.8
Valuation Ratios
P/S TTM	1.4	1.3	1.6
P/EBIT TTM	19.0	-3.2	472.4
P/E TTM	238.7	-3.0	-40.1
P/FCF TTM	13.9	11.0	18.5
Sector Ratios
P/S TTM (Sector)	4.3	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

	NVST	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	2.6
Rev Chg Q	11.5%	7.3%
Rev Chg LTM	4.7%	6.1%
Rev Chg 3Y Avg	0.8%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	8.3%	18.8%
CFO/Rev LTM	11.4%	20.4%
Net Inc Mgn	0.6%	13.1%
VALUATION	LOW
P/S	1.4	3.3
P/CFO	12.2	15.8
P/FCF	13.9	20.7
P/E	238.7	23.5
STABILITY	GOOD
Debt/Equity	0.44	0.21
Cash/Assets	0.20	0.07

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Metric	Value	Date	Source
Dental Clinic Penetration	90%	2132025	Link
Number of Dental Brands	35	2132025	Link
On-Time Customer Service Rate	>95%	2132025	Link
Working Capital Turns	>5x	2132025	Link
Number of Clinicians Trained in 2024	120,000	2132025	Link
Number of Employees	12,300	12312024	Link
Spark Aligners Shipped	1,000,000	10302025	Link
Annual Charitable Donations	$1,800,000	2132025	Link

Upcoming
2/04/2026	Earnings Release	Rev: - EPS: -

NVST Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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1. Strong Third Quarter 2025 Financial Performance: Envista reported robust third quarter 2025 results on October 29, 2025, surpassing expectations with 9.4% core sales growth over the third quarter of 2024 and a 167% year-on-year increase in adjusted EPS to $0.32. The company also saw its adjusted EBITDA climb by 77% year-on-year to $97 million.

2. Spark Aligner Business Achieves Profitability: A significant highlight from the Q3 2025 earnings report was the announcement that Envista's Spark aligners business achieved a positive operating margin.

3. Share Repurchase Activity: Envista demonstrated commitment to shareholder returns by repurchasing 2.1 million shares for approximately $41 million during the third quarter of 2025.

4. Positive Analyst Actions: During the period, Envista received favorable attention from analysts. Barclays initiated coverage with an "Overweight" rating and a $24 price target on December 9, 2025, and Leerink Partners upgraded the stock to Market Perform from Underperform with a $23 price target on December 4, 2025. Additionally, JP Morgan maintained a "Hold" rating while increasing its price target from $20 to $22 on December 16, 2025.

5. Concerns Regarding China's Volume-Based Procurement Policy: An analyst report on October 17, 2025, revised Envista's rating from "Buy" to "Hold," citing potential headwinds for Q4 2025 and H1 2026. This outlook was primarily due to the expected second round of China's Volume-Based Procurement (VBP) policy, which could negatively impact patient flow and revenue in the region.

Stock Movement Drivers

Fundamental Drivers

The 8.1% change in NVST stock from 9/26/2025 to 12/26/2025 was primarily driven by a 273.5% change in the company's P/E Multiple.

	9262025	12262025	Change
Stock Price ($)	20.35	21.99	8.06%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2552.90	2621.80	2.70%
Net Income Margin (%)	2.11%	0.58%	-72.31%
P/E Multiple	63.92	238.73	273.45%
Shares Outstanding (Mil)	169.00	166.10	1.72%
Cumulative Contribution			8.03%

LTM = Last Twelve Months as of date shown

Market Drivers

9/26/2025 to 12/26/2025

	Return	Correlation
NVST	8.1%
Market (SPY)	4.3%	51.2%
Sector (XLV)	15.2%	48.7%

Fundamental Drivers

The 11.8% change in NVST stock from 6/27/2025 to 12/26/2025 was primarily driven by a 4.7% change in the company's Total Revenues ($ Mil).

	6272025	12262025	Change
Stock Price ($)	19.67	21.99	11.79%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2503.90	2621.80	4.71%
P/S Multiple	1.35	1.39	2.87%
Shares Outstanding (Mil)	172.40	166.10	3.65%
Cumulative Contribution			11.65%

LTM = Last Twelve Months as of date shown

Market Drivers

6/27/2025 to 12/26/2025

	Return	Correlation
NVST	11.8%
Market (SPY)	12.6%	33.8%
Sector (XLV)	17.0%	51.6%

Fundamental Drivers

The 13.7% change in NVST stock from 12/26/2024 to 12/26/2025 was primarily driven by a 4.7% change in the company's Total Revenues ($ Mil).

	12262024	12262025	Change
Stock Price ($)	19.34	21.99	13.70%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2503.30	2621.80	4.73%
P/S Multiple	1.33	1.39	4.72%
Shares Outstanding (Mil)	172.20	166.10	3.54%
Cumulative Contribution			13.56%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2024 to 12/26/2025

	Return	Correlation
NVST	13.7%
Market (SPY)	15.8%	62.4%
Sector (XLV)	13.3%	50.1%

Fundamental Drivers

The -33.3% change in NVST stock from 12/27/2022 to 12/26/2025 was primarily driven by a -94.2% change in the company's Net Income Margin (%).

	12272022	12262025	Change
Stock Price ($)	32.96	21.99	-33.28%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2560.10	2621.80	2.41%
Net Income Margin (%)	9.98%	0.58%	-94.15%
P/E Multiple	21.05	238.73	1034.18%
Shares Outstanding (Mil)	163.10	166.10	-1.84%
Cumulative Contribution			-33.31%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2023 to 12/26/2025

	Return	Correlation
NVST	-10.0%
Market (SPY)	48.0%	48.9%
Sector (XLV)	18.2%	43.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
NVST Return	14%	34%	-25%	-29%	-20%	14%	-26%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
NVST Win Rate	67%	50%	50%	42%	50%	50%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
NVST Max Drawdown	-60%	-2%	-28%	-37%	-36%	-23%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[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 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	NVST	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-58.6%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	141.7%	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	-64.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	178.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	283 days	148 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Envista's stock fell -58.6% during the 2022 Inflation Shock from a high on 3/21/2022. A -58.6% loss requires a 141.7% gain to breakeven.

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About Envista (NVST)

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

Envista Holdings Corporation, together with its subsidiaries, engages in the development, sale, and marketing of dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies and Equipment & Consumables. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists, and periodontists under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, and Orascoptic brands; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Insignia, AOA, and Spark brands. This segment also offers software packages, which include DTX Studio Implant for treatment planning of dental implants; TX Studio Lab for prosthetics treatment planning; and DTX Studio Clinic to store and access a various clinical patient images. The company's Equipment & Consumables segment provides dental equipment and supplies, including digital imaging systems, sensors, software, and other visualization/magnification systems; endodontic systems and related consumables; restorative materials, rotary burs, impression materials, bonding agents, and cements; and infection prevention products. This segment offers its products under the Dexis, Gendex, i-CAT, Kerr, Metrex, Total Care, Pentron, Optibond, Harmonize, Sonicfill, Sybron Endo, and CaviWipes to dental offices, clinics, and hospitals. Envista Holdings Corporation was incorporated in 2018 and is headquartered in Brea, California.

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Here are a few brief analogies for Envista (NVST):

The Medtronic of dentistry.
Like a Johnson & Johnson for dental products.

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Dental Implants: Envista offers a comprehensive portfolio of dental implant systems, biomaterials, and prosthetic solutions for tooth replacement.
Orthodontics: They provide various orthodontic solutions, including clear aligners and traditional braces, for teeth straightening and bite correction.
Imaging & Digital Solutions: Envista develops and supplies dental imaging equipment, intraoral scanners, and digital workflow software for diagnosis and treatment planning.
Restoratives & Consumables: They deliver a wide range of dental materials and instruments, such as composites, adhesives, and impression materials, used in general dentistry.

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Envista Holdings Corporation (NVST) primarily sells its dental products and solutions to other companies within the dental industry, rather than directly to individual consumers. Its major customers include:

Dental Distributors: Envista utilizes a network of dental distributors to reach a broad base of dental professionals globally. These distributors purchase products from Envista and then resell them to dental practices, laboratories, and other dental organizations. Two of the largest public dental distributors that likely serve as significant customers or channels for Envista are:
- Henry Schein, Inc. (HSIC)
- Patterson Companies, Inc. (PDCO)
Dental Practices and Clinics: Envista also sells directly to a highly fragmented market of dental professionals, including general dentists, specialists (e.g., orthodontists, oral surgeons, periodontists), and group practices. While these are businesses, they are typically independent or regional entities rather than large public "customer companies."
Dental Laboratories: These businesses fabricate custom dental prosthetics and devices, often using Envista's materials and equipment.

Therefore, Envista's customer base is predominantly B2B, serving the dental industry through a combination of direct sales and large distributors.

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Paul Keel, Chief Executive Officer

Paul Keel was appointed CEO of Envista in May 2024. Prior to joining Envista, he served as Chief Executive Officer and Executive Director at Smiths Group plc from May 2021 to March 2024.

Eric Hammes, Chief Financial Officer

Eric Hammes became Envista's Chief Financial Officer effective August 8, 2024. He previously served as Vice President, Corporate Financial Planning and Analysis at Rockwell Automation. Before Rockwell, Mr. Hammes held numerous financial and operational leadership positions at 3M, including Senior Vice President Controller and Chief Accounting Officer, CFO of 3M Health Care Business Group, and Director Finance for the Orthodontic Products Division.

Robert Befidi, President, Diagnostics

Robert Befidi was appointed President, Diagnostics in December 2023. He joined Envista from 3M, where he was President of the Separation and Purification Sciences Division. Before his time at 3M, Mr. Befidi worked in private equity, consulting, tech, and investment banking research. He co-founded Gordian Capital, a private equity company, where he managed capital raising, deal origination, industry research, transaction structuring, and portfolio management.

Mark Nance, Senior Vice President, General Counsel & Secretary

Mark Nance serves as Senior Vice President, General Counsel & Secretary at Envista Holdings Corporation.

Mischa Reis, Senior Vice President of Strategy & Corporate Development

Mischa Reis holds the position of Senior Vice President of Strategy & Corporate Development at Envista Holdings Corporation.

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Key Risks to Envista (NVST)

Envista Holdings Corporation (NVST) faces several key risks inherent to its global operations and the highly regulated dental industry. The most significant risks include geopolitical and macroeconomic instability, stringent regulatory and compliance hurdles, and intense competition demanding continuous innovation.

Geopolitical and Macroeconomic Risks: Envista is significantly exposed to international economic, political, and regulatory risks, with approximately 70% of its revenue generated outside the U.S.. This exposes the company to substantial foreign currency exchange rate fluctuations, which can negatively impact sales and profitability. Additionally, geopolitical tensions, such as U.S.-China trade policies, have resulted in direct costs like tariffs, creating operational headwinds. Broader global economic conditions, including inflation and interest rate volatility, can also adversely affect consumer demand and the company's business.
Regulatory and Compliance Risks: Operating in a highly regulated industry, Envista's products are subject to stringent regulations from bodies like the FDA and other international authorities. Changes in these regulations can increase compliance costs and hinder the company's ability to market its products effectively. A specific and impactful risk is the ongoing Volume-Based Procurement (VBP) in China, which has caused contraction in the orthodontics market within Envista's Specialty Products & Technologies segment.
Competitive Landscape and Innovation Risks: The dental industry is intensely competitive, requiring Envista to continually innovate and differentiate its product offerings to maintain and grow market share. A failure to adapt to technological changes or to develop and commercialize new products and services in a timely manner could lead to obsolescence and a loss of competitive standing. Increasing competition or market saturation could also force Envista to lower prices or increase investment in product improvements, potentially impacting profitability.

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The rapid advancement and integration of in-office digital manufacturing technologies (such as highly accurate 3D printers and milling machines) combined with sophisticated AI-driven design and treatment planning software. This emerging ecosystem empowers dental practices to produce an increasing array of restorations, prosthetics, and orthodontic appliances (e.g., crowns, bridges, surgical guides, and clear aligners) directly in-house. This trend threatens to disrupt Envista's traditional sales of prefabricated products and lab-dependent solutions across its restorative, implant, and orthodontic segments, potentially commoditizing parts of its portfolio by enabling more cost-effective and immediate alternatives produced by the dentists themselves using third-party systems.

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Envista Holdings Corporation (NVST) is a global dental products company with a portfolio spanning various key areas of dentistry. The addressable markets for its main products and services are substantial:

Global Dental Consumables Market: This broad market, which includes products such as implants, prosthetics, and orthodontics, was valued at approximately USD 36.76 billion in 2024 and is projected to reach USD 73.46 billion by 2033, growing at a CAGR of 8.17% from 2025 to 2033. North America held the largest share of this market in 2024.
Global Dental Equipment Market: This market, which includes dental imaging systems, was valued at around USD 11.2 billion in 2023 and is projected to reach USD 17.06 billion by 2030, with a CAGR of 6.3% from 2024 to 2030. Another report estimates the market at USD 12.71 billion in 2025, reaching USD 22.1 billion by 2034 with a CAGR of 6.34%. North America dominated the global dental equipment market in 2023.
Global Dental Implants and Prosthetics Market: Envista is a key player in this segment through its Nobel Biocare and Implant Direct brands. This market is projected to reach USD 18.79 billion by 2030, growing from USD 12.57 billion in 2025 at a CAGR of 8.4%. Another estimate places the global dental implants market size at USD 4.79 billion in 2024, projected to grow to USD 8.17 billion by 2032 with a CAGR of 6.9%. Europe accounted for the largest market share in the global dental implants market.
Global Orthodontic Supplies Market: Envista is a leading company in the orthodontic supplies market, notably with its Spark clear aligner system and Damon System. The global orthodontic supplies market was valued at USD 6.67 billion in 2024 and is forecasted to reach USD 10.96 billion by 2030, growing at a CAGR of 8.9%. North America leads this market. The global invisible orthodontics market, a sub-segment where Envista's Spark aligners compete, was valued at USD 4.71 billion in 2021 and is predicted to reach USD 14.65 billion by 2030, with a CAGR of approximately 13.42%.
Global Dental Imaging Market: Envista, through its DEXIS brand (formerly KaVo imaging), is a leader in dental imaging products like intraoral scanners and 3D CBCT systems. This market was valued at approximately USD 3.08 billion in 2024 and is projected to reach USD 4.69 billion by 2030, advancing at a CAGR of 7.5% from 2025 to 2030. Another report indicates the market was valued at USD 6.4 billion in 2022 and is projected to reach USD 14.7 billion by 2032, with a CAGR of 8.7%. North America currently dominates the dental imaging market.

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Envista (NVST) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

Continued Growth and Profitability of Spark Clear Aligners: Envista consistently highlights Spark as a significant growth engine. The company has been gaining market share with Spark aligners and the business achieved positive operating profit in Q3 2025, with expectations for continued margin and market share gains.
Commercial and Innovation Investments, Including New Product Launches: Management emphasizes that strategic commercial and innovation investments are yielding beneficial impacts and are central to accelerating growth. Specifically, new product launches supported positive growth across all major businesses in Q3 2025.
Improved Performance and Market Share in the Implants Business: Envista is focusing on narrowing the gap relative to the market in its implants business, particularly in North America, with mid-single-digit growth observed in value implants and an improving trend in Nobel. These efforts are anticipated to contribute to future revenue expansion in this segment.
Strategic Price Increases: The company has demonstrated the ability to realize positive price growth in key product categories, including Spark aligners and brackets and wires businesses, indicating that strategic pricing will continue to be a component of revenue growth.
Leveraging the Envista Business System (EBS) for Operational Excellence: While primarily an operational improvement strategy, the ongoing contributions from the Envista Business System (EBS) are crucial for sustained operational improvement, which indirectly supports revenue growth by enhancing efficiency and profitability, as seen with Spark achieving positive operating margin.

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Share Repurchases

Envista Holdings Corp authorized a stock repurchase program of up to $250 million through December 31, 2026, announced on February 5, 2025.
During the third quarter ended September 26, 2025, Envista repurchased approximately $41 million worth of shares, totaling 2.1 million shares.
For the nine months ended September 26, 2025, share repurchases amounted to approximately $141.9 million for 8.0 million shares. At the end of that quarter, $108 million remained under the repurchase authorization.

Outbound Investments

In May 2022, Envista entered into a definitive agreement to acquire Osteogenics Biomedical Inc., Allotech LLC, and OBI Biologics, Inc. ("Osteogenics"), a leader in regenerative solutions for implant dentistry.
Envista completed the acquisition of Carestream Dental's Intra-Oral Scanner (IOS) business for $600 million in April 2022.
In December 2021, Envista closed the divestiture of its KaVo Treatment Unit & Instrument business, receiving $317.3 million.

Capital Expenditures

In 2024, Envista invested an incremental $25 million in commercial coverage, clinical education, and new product development.
The company generated over $220 million of free cash flow in 2023 and continued to invest in strategic priorities aimed at accelerating growth and enhancing margins.
Envista invested in several Kaizen projects in 2023, focusing on enhancing sustainability and operational efficiency, particularly related to waste generation and energy use at various facilities.

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UNH (8.5%)

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 NVST: 0.8% | 1.4x)

WMT (5.4% | 1.3x)

Walmart

COST (6.7% | 1.4x)

Costco Wholesale

GM (8.6% | 0.4x)

General Motors

TRV (10.1% | 1.4x)

Travelers Companies

MFC (8.5% | 1.2x)

Manulife Financial

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NVST: 0.8% | 16.7x)

HD (1.9% | 16.1x)

Home Depot

PG (1.8% | 16.5x)

Procter & Gamble

TMUS (2.4% | 11.6x)

T-Mobile US

DIS (4.5% | 14.8x)

Walt Disney

PEP (3.4% | 16.1x)

PepsiCo

Higher Rev Chg LTM (Value for NVST: 4.7%)

NVDA (65.2%)

NVIDIA

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for NVST: 0.8%)

NVDA (91.6%)

NVIDIA

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for NVST: 8.3%)

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 NVST: 11.4%)

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 NVST: 10.0%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for NVST: 0.4%)

MSFT (3.6%)

Microsoft

GOOGL (3.5%)

Alphabet

AMZN (2.9%)

Amazon.com

AAPL (2.8%)

Apple

NVDA (2.2%)

NVIDIA

		Best Bets In Health Care Sector
	NVST	RPRX	HALO	DOCS	CPRX	HRMY	LGND	ISRG	GMED	MD	HIMS
What You Pay
P/E	238.7	22.1	13.6	32.4	13.7	11.8	78.9	75.0	28.1	11.4	58.0
P/EBIT	19.0	10.7	10.6	33.2	11.5	8.9	57.4	73.2	27.4	7.7	67.5
What You Get
Rev Chg Q	11.5%	7.9%	22.1%	23.2%	15.3%	28.7%	122.8%	22.9%	22.9%	-3.6%	49.2%
Rev Chg LTM	4.7%	3.7%	31.2%	20.2%	25.6%	21.1%	64.8%	22.2%	11.7%	-4.2%	78.0%
Rev Chg 3Y Avg	0.8%	1.5%	29.0%	17.4%	46.5%	27.4%	16.0%	16.3%	45.6%	-0.5%	71.0%
FCF/Rev 3Y Avg	9.8%	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	Envista Earnings Notes
2	Envista Earnings Notes
3	Envista Earnings Notes
4	With Envista Stock Surging, Have You Considered The Downside?	Return
5	Envista vs Johnson & Johnson: Which Is A Better Investment?	Counter-Intuitive Comparisons
6	Envista vs Lantheus: Which Is A Better Investment?	Counter-Intuitive Comparisons
7	Does Envista Stock Lead the Pack?	Peer Comparison
8	Better Bet Than NVST Stock: Pay Less Than Envista To Get More From GOOGL, V
9	Better Bet Than NVST Stock: Pay Less Than Envista To Get More From UNH, MRK
10	Better Bet Than NVST Stock: Pay Less Than Envista To Get More From COO, HAE

	Title
0	ARTICLES

Trade Ideas

Select ideas related to NVST. 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	21.4%	21.4%	-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	-7.4%	-7.4%	-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	18.0%	18.0%	-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	3.9%	3.9%	-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	12.2%	12.2%	-5.1%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Envista

Peers to compare with:

Financials

	NVST	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Envista	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	21.99	23.26	24.49	305.09	78.16	273.40	51.32
Mkt Cap	3.7	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	2,622	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	219	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	262	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	251	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	300	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	297	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	NVST	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Envista	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	4.7%	3.2%	13.8%	4.5%	8.9%	6.0%	5.4%
Rev Chg 3Y Avg	0.8%	-3.9%	6.5%	2.6%	3.7%	1.8%	2.2%
Rev Chg Q	11.5%	4.2%	14.4%	9.1%	7.5%	9.6%	9.4%
QoQ Delta Rev Chg LTM	2.7%	1.1%	3.7%	2.1%	1.8%	2.1%	2.1%
Op Mgn LTM	8.3%	6.6%	4.8%	17.7%	22.5%	31.9%	13.0%
Op Mgn 3Y Avg	9.3%	7.4%	7.2%	16.4%	24.2%	30.8%	12.8%
QoQ Delta Op Mgn LTM	1.2%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	11.4%	6.7%	8.5%	20.6%	23.8%	26.6%	16.0%
CFO/Rev 3Y Avg	11.6%	6.8%	12.7%	21.4%	26.1%	28.4%	17.1%
FCF/Rev LTM	10.0%	5.1%	1.8%	18.1%	22.1%	23.5%	14.1%
FCF/Rev 3Y Avg	9.8%	5.5%	4.6%	18.6%	24.6%	25.6%	14.2%

Valuation

	NVST	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Envista	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	3.7	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	1.4	0.4	1.0	4.4	5.4	10.0	2.9
P/EBIT	19.0	6.8	19.9	25.1	22.5	31.3	21.2
P/E	238.7	8.6	572.7	36.0	29.9	41.0	38.5
P/CFO	12.2	5.9	11.2	21.1	22.5	37.5	16.7
Total Yield	0.4%	14.1%	2.3%	5.0%	5.4%	2.8%	3.9%
Dividend Yield	0.0%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	6.8%	10.6%	5.5%	6.4%	6.0%	3.1%	6.2%
D/E	0.4	0.5	0.7	0.2	0.1	0.0	0.3
Net D/E	0.1	0.3	0.6	0.2	0.0	0.0	0.2

Returns

	NVST	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Envista	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	4.8%	-1.8%	14.4%	0.6%	2.7%	-1.5%	1.7%
3M Rtn	8.1%	-11.9%	2.7%	7.9%	17.0%	7.1%	7.5%
6M Rtn	11.8%	-4.0%	34.5%	6.6%	15.2%	36.3%	13.5%
12M Rtn	13.7%	-27.3%	14.2%	39.2%	33.7%	6.0%	13.9%
3Y Rtn	-33.3%	-3.8%	67.7%	139.0%	79.5%	113.4%	73.6%
1M Excs Rtn	2.0%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-1.1%
3M Excs Rtn	3.8%	-16.2%	-1.7%	3.6%	12.7%	2.8%	3.2%
6M Excs Rtn	-0.5%	-16.3%	22.3%	-5.7%	3.0%	24.0%	1.3%
12M Excs Rtn	1.0%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	0.1%
3Y Excs Rtn	-113.7%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

Comparison Analyses

	Title
0	Does Envista Stock Lead the Pack?

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/26/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/30/2025	2/13/2025	2/15/2024	2/16/2023	2/24/2022	2/19/2021	2/21/2020
Key Financials
Total Revenue	2,622	2,511	2,566	2,569	2,509	1,929	2,285
EBITDA	341	-884	171	484	460	206	405
Operating Income	219	137	315	343	306	44	236
Net Income	15	-1,119	-100	243	340	33	218
EPS	0.09	-6.50	-0.60	1.49	2.11	0.21	1.60
Growth Rates
Total Revenue Growth	4.7%	-2.2%	-0.1%	2.4%	30.1%	-15.6%	-19.7%
EBITDA Growth	130.3%	-616.5%	-64.7%	5.2%	124.0%	-49.3%	-6.0%
Operating Income Growth	41.0%	-56.4%	-8.2%	12.1%	603.9%	-81.5%	-21.0%
Net Income Growth	101.1%	-1016.4%	-141.2%	-28.6%	922.5%	-84.7%	-5.7%
Margins
EBITDA Margin	13.0%	-35.2%	6.7%	18.9%	18.4%	10.7%	17.7%
Operating Income Margin	8.3%	5.5%	12.3%	13.4%	12.2%	2.3%	10.3%
Net Income Margin	0.6%	-44.6%	-3.9%	9.5%	13.6%	1.7%	9.5%
Cash & Debt
Total Cash	1,134	1,069	940	607	1,074	889	211
Total Debt	1,602	1,548	1,654	1,529	1,460	1,978	1,538
Net Debt / (Cash)	468	479	714	922	386	1,089	1,326
Cash Flows
Net Cash from Operations	300	336	276	183	362	284	398
Free Cash from Operations	262	303	218	107	307	236	320
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	142	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/26/2025	6/27/2025	3/31/2025	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	10/30/2025	7/31/2025	5/1/2025	2/13/2025	10/30/2024	8/7/2024	5/1/2024	2/15/2024	11/1/2023	8/2/2023	5/3/2023	2/16/2023
Key Financials Quarterly
Total Revenue	670	682	617	653	601	633	624	646	631	662	627	661
Ebitda	97	87	75	82	59	-1,113	88	-161	91	126	115	132
Operating Income	58	46	47	68	21	0	53	81	83	79	72	112
Net Income	-30	26	18	1	8	-1,152	24	-217	22	52	44	74
EPS	-0.18	0.16	0.10	0.01	0.05	-6.69	0.14	-1.27	0.13	0.32	0.27	0.45
Key Financials TTM
Total Revenue TTM	2,622	2,553	2,504	2,511	2,503	2,534	2,563	2,566	2,582	2,582	2,565	2,569
Ebitda TTM	341	303	-897	-884	-1,127	-1,095	143	171	465	491	470	484
Operating Income TTM	219	182	136	142	155	218	296	315	346	338	324	343
Net Income TTM	15	54	-1,124	-1,119	-1,337	-1,324	-120	-100	191	217	212	243
Growth Rates Quarterly
Total Revenue Growth	11.5%	7.7%	-1.1%	1.1%	-4.8%	-4.4%	-0.6%	-2.3%	0.0%	2.6%	-0.7%	1.4%
EBITDA Growth	64.5%	107.8%	-14.8%	151.2%	-35.2%	-982.4%	-24.0%	-221.6%	-22.4%	19.6%	-11.0%	53.5%
Operating Income Growth	175.1%	9160.0%	-11.1%	-16.0%	-74.9%	-99.4%	-26.1%	-28.0%	11.8%	21.0%	-21.2%	143.0%
Net Income Growth	-469.5%	102.3%	-23.7%	100.6%	-61.9%	-2318.9%	-46.1%	-395.8%	-54.8%	10.2%	-41.5%	-14.3%
Margins Quarterly
EBITDA Margin	14.4%	12.8%	12.1%	12.6%	9.8%	-175.8%	14.0%	-25.0%	14.4%	19.0%	18.4%	20.1%
Operating Income Margin	8.6%	6.8%	7.7%	10.4%	3.5%	0.1%	8.5%	12.5%	13.2%	11.9%	11.5%	16.9%
Net Income Margin	-4.5%	3.9%	2.9%	0.2%	1.4%	-181.9%	3.8%	-33.7%	3.4%	7.8%	7.0%	11.1%
Cash & Debt
Total Cash	1,134	1,111	1,077	1,069	991	1,036	948	940	824	652	585	607
Total Debt	1,602	1,596	1,560	1,548	1,575	1,643	1,646	1,654	1,638	1,532	1,534	1,529
Net Debt / (Cash)	468	486	483	479	584	606	698	714	814	881	949	922
Cash Flows Quarterly
FCF from Operations	79	89	0	132	71	93	40	102	96	75	3	110
Cash Flows TTM
FCF from Operations TTM	300	292	296	336	306	331	313	276	284	235	182	183
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	42	86	15	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	6.0%	3.1%	3.0%	0.2%	1.7%	0.0%	3.4%	7.6%	4.7%	5.5%	5.1%	9.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	0.6%	2.2%	3.5%	3.7%	3.7%	5.3%	7.1%	7.4%	6.6%	6.4%	6.1%	6.5%

Segment Financials

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Specialty Products & Technologies	3,278	3,476	3,498	3,773	3,662
Equipment & Consumables	2,339	2,455	1,946	2,178	2,257
Corporate and other	989	656	1,118	924	239
Held for Sale			12
Total	6,605	6,587	6,574	6,876	6,158

Price Behavior

Price Behavior

Market Price	$21.99
Market Cap ($ Bil)	3.7
First Trading Date	09/18/2019
Distance from 52W High	-2.0%
	50 Days	200 Days
DMA Price	$20.54	$19.30
DMA Trend	indeterminate	indeterminate
Distance from DMA	7.1%	13.9%
	3M	1YR
Volatility	29.5%	39.6%
Downside Capture	82.16	135.84
Upside Capture	102.75	129.08
Correlation (SPY)	51.7%	62.3%

NVST Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.16	1.19	1.27	1.06	1.27	1.15
Up Beta	2.60	1.78	2.17	1.75	1.25	1.33
Down Beta	-1.29	1.19	1.00	0.35	1.12	1.03
Up Capture	143%	103%	91%	111%	147%	69%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	9	21	28	62	121	349
Down Capture	100%	103%	131%	117%	126%	106%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	20	34	62	126	396

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

Based On 1-Year Data

		Comparison of NVST With Other Asset Classes (Last 1Y)
	NVST	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	17.6%	15.1%	17.8%	72.1%	8.6%	4.4%	-8.3%
Annualized Volatility	39.4%	17.2%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	0.50	0.65	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		50.1%	62.3%	0.1%	16.6%	52.5%	26.3%

ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of NVST With Other Asset Classes (Last 5Y)
	NVST	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-7.7%	8.4%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	34.5%	14.5%	17.1%	15.5%	18.7%	18.9%	48.7%
Sharpe Ratio	-0.16	0.40	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		42.2%	50.2%	9.2%	14.3%	43.9%	20.1%

Based On 10-Year Data

		Comparison of NVST With Other Asset Classes (Last 10Y)
	NVST	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-3.8%	9.9%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	39.5%	16.6%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.03	0.49	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		48.2%	55.4%	10.0%	21.5%	53.1%	19.4%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	9,762,837
Short Interest: % Change Since 11302025	-7.8%
Average Daily Volume	2,323,946
Days-to-Cover Short Interest	4.20
Basic Shares Quantity	166,100,000
Short % of Basic Shares	5.9%

Returns Analyses

	Title
0	With Envista Stock Surging, Have You Considered The Downside?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/29/2025	0.8%	0.9%	4.0%
7/31/2025	10.3%	6.4%	12.1%
5/1/2025	4.0%	8.8%	10.8%
2/5/2025	5.9%	1.4%	-10.4%
10/30/2024	9.0%	13.8%	15.9%
8/7/2024	7.8%	13.1%	14.0%
5/1/2024	0.3%	-4.7%	-2.0%
2/7/2024	-7.4%	-8.7%	-12.4%
...
SUMMARY STATS
# Positive	16	14	13
# Negative	8	10	11
Median Positive	4.9%	7.4%	5.9%
Median Negative	-6.0%	-5.0%	-8.0%
Max Positive	10.3%	13.8%	21.0%
Max Negative	-7.6%	-9.7%	-17.9%

	Forward Returns
10/29/2025	0.8%	0.9%	4.0%
7/31/2025	10.3%	6.4%	12.1%
5/1/2025	4.0%	8.8%	10.8%
2/5/2025	5.9%	1.4%	-10.4%
10/30/2024	9.0%	13.8%	15.9%
8/7/2024	7.8%	13.1%	14.0%
5/1/2024	0.3%	-4.7%	-2.0%
2/7/2024	-7.4%	-8.7%	-12.4%
11/1/2023	-7.6%	-5.7%	4.0%
8/2/2023	1.0%	-1.7%	-5.6%
5/3/2023	-6.9%	-9.7%	-12.4%
2/8/2023	-1.1%	-1.0%	-8.0%
11/3/2022	3.1%	8.0%	0.4%
8/3/2022	3.2%	3.1%	-8.1%
5/4/2022	5.1%	-0.7%	3.8%
2/9/2022	7.0%	13.0%	2.3%
11/3/2021	5.3%	6.7%	-3.9%
8/3/2021	-7.4%	-9.2%	-2.2%
5/5/2021	4.7%	2.8%	-1.7%
2/10/2021	2.2%	-3.2%	4.6%
10/29/2020	6.0%	10.7%	19.3%
7/30/2020	-3.2%	0.5%	5.9%
5/12/2020	-1.4%	9.3%	21.0%
1/30/2020	-5.2%	-5.3%	-17.9%
SUMMARY STATS
# Positive	16	14	13
# Negative	8	10	11
Median Positive	4.9%	7.4%	5.9%
Median Negative	-6.0%	-5.0%	-8.0%
Max Positive	10.3%	13.8%	21.0%
Max Negative	-7.6%	-9.7%	-17.9%

SEC Filings

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Report Date	Filing Date	Filing
9302025	10302025	10-Q 9/26/2025
6302025	7312025	10-Q 6/27/2025
3312025	5012025	10-Q 3/31/2025
12312024	2132025	10-K 12/31/2024
9302024	10302024	10-Q 9/27/2024
6302024	8072024	10-Q 6/28/2024
3312024	5012024	10-Q 3/29/2024
12312023	2152024	10-K 12/31/2023
9302023	11012023	10-Q 9/29/2023
6302023	8022023	10-Q 6/30/2023
3312023	5032023	10-Q 3/31/2023
12312022	2162023	10-K 12/31/2022
9302022	11032022	10-Q 9/30/2022
6302022	8032022	10-Q 7/1/2022
3312022	5042022	10-Q 4/1/2022
12312021	2242022	10-K 12/31/2021

Insider Activity

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Industry Resources

Health Care Resources

U.S. National Library of Medicine

Health Data Management

FDA Tracker

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

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Envista (NVST)

Market Price (12/27/2025): $21.99 | Market Cap: $3.7 BilSector: Health Care | Industry: Health Care Supplies

Envista (NVST)

Market Price (12/27/2025): $21.99Market Cap: $3.7 BilSector: Health CareIndustry: Health Care Supplies

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

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About Envista (NVST)

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Interactive Breakdown

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INDUSTRY: Health Care Supplies

Higher Rev Chg 3Y Avg | Lower P/S (Values for NVST: 0.8% | 1.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NVST: 0.8% | 16.7x)

Higher Rev Chg LTM (Value for NVST: 4.7%)

Higher Rev Chg 3Y Avg (Value for NVST: 0.8%)

Higher Op Mgn LTM (Value for NVST: 8.3%)

Higher CFO/Rev LTM (Value for NVST: 11.4%)

Higher FCF/Rev LTM (Value for NVST: 10.0%)

Higher Total Yield (Value for NVST: 0.4%)

SECTOR: Health Care

Higher Rev Chg 3Y Avg | Lower P/S (Values for NVST: 0.8% | 1.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NVST: 0.8% | 16.7x)

Higher Rev Chg LTM (Value for NVST: 4.7%)

Higher Rev Chg 3Y Avg (Value for NVST: 0.8%)

Higher Op Mgn LTM (Value for NVST: 8.3%)

Higher CFO/Rev LTM (Value for NVST: 11.4%)

Higher FCF/Rev LTM (Value for NVST: 10.0%)

Higher Total Yield (Value for NVST: 0.4%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for NVST: 0.8% | 1.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NVST: 0.8% | 16.7x)

Higher Rev Chg LTM (Value for NVST: 4.7%)

Higher Rev Chg 3Y Avg (Value for NVST: 0.8%)

Higher Op Mgn LTM (Value for NVST: 8.3%)

Higher CFO/Rev LTM (Value for NVST: 11.4%)

Higher FCF/Rev LTM (Value for NVST: 10.0%)

Higher Total Yield (Value for NVST: 0.4%)

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Market Price (12/27/2025): $21.99 | Market Cap: $3.7 Bil
Sector: Health Care | Industry: Health Care Supplies

Market Price (12/27/2025): $21.99
Market Cap: $3.7 Bil
Sector: Health Care
Industry: Health Care Supplies