Envista Holdings Corp (NVST) Financial Ratios
9 years of historical data (2017–2025) · Healthcare · Medical - Equipment & Services
EV/EBITDA
↓
13.28
↓-29% vs avg
5yr avg: 18.80
30Y Low12.2·High37.6
P/FCF
↓
17.54
↓-31% vs avg
5yr avg: 25.47
30Y Low11.0·High55.9
P/B Ratio
↓
1.32
-1% vs avg
5yr avg: 1.33
30Y Low1.0·High2.0
ROE
↓
1.6%
↓+144% vs avg
5yr avg: -3.5%
30Y Low-31%·High9%
Debt/EBITDA
↑
5.00
↓-8% vs avg
5yr avg: 5.42
30Y Low3.3·High11.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NVST Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Envista Holdings Corp trades at 86.7x earnings, 95% above its 5-year average of 44.4x, sitting at the 80th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.3x, the stock trades at a premium of 289%. On a free-cash-flow basis, the stock trades at 17.5x P/FCF, 31% below the 5-year average of 25.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.0B | $3.7B | $3.3B | $4.0B | $6.0B | $8.0B | $5.5B | $4.0B | — | — |
| Enterprise Value | $4.5B | $4.2B | $3.8B | $4.7B | $6.9B | $8.4B | $6.6B | $5.4B | — | — |
| P/E Ratio → | 86.73 | 77.54 | — | — | 25.13 | 30.45 | 129.73 | 21.96 | — | — |
| P/S Ratio | 1.49 | 1.35 | 1.32 | 1.56 | 2.33 | 3.19 | 2.87 | 1.77 | — | — |
| P/B Ratio | 1.32 | 1.18 | 1.13 | 0.96 | 1.42 | 1.97 | 1.49 | 1.14 | — | — |
| P/FCF | 17.54 | 15.94 | 10.97 | 18.46 | 55.89 | 26.08 | 23.43 | 12.65 | — | — |
| P/OCF | 14.66 | 13.32 | 9.87 | 14.57 | 32.73 | 22.13 | 19.50 | 10.17 | — | — |
P/E links to full P/E history page with 30-year chart
NVST EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Envista Holdings Corp's enterprise value stands at 13.3x EBITDA, 29% below its 5-year average of 18.8x. The Healthcare sector median is 14.4x, placing the stock at a 8% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.53 | 1.51 | 1.84 | 2.69 | 3.35 | 3.43 | 2.35 | — | — |
| EV / EBITDA | 13.28 | 12.20 | — | 28.30 | 15.10 | 19.57 | 37.62 | 14.74 | — | — |
| EV / EBIT | 20.10 | 18.47 | 24.30 | 14.44 | 19.18 | 22.59 | 51.92 | 21.61 | — | — |
| EV / FCF | — | 18.10 | 12.55 | 21.74 | 64.50 | 27.41 | 28.05 | 16.79 | — | — |
NVST Profitability
Margins and return-on-capital ratios measuring operating efficiency
Envista Holdings Corp earns an operating margin of 8.3%. Operating margins have expanded from 1.2% to 8.3% over the past 3 years, signaling improving operational efficiency. ROE of 1.6% is modest. ROIC of 4.8% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.0% | 55.0% | 55.4% | 56.5% | 57.9% | 58.3% | 55.6% | 59.2% | 56.6% | 57.9% |
| Operating Margin | 8.3% | 8.3% | -41.4% | 1.2% | 12.4% | 12.2% | 2.3% | 10.3% | 10.5% | 13.8% |
| Net Profit Margin | 1.7% | 1.7% | -44.6% | -3.9% | 9.5% | 13.6% | 1.7% | 9.5% | 8.1% | 10.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.6% | 1.6% | -31.5% | -2.4% | 5.9% | 8.8% | 0.9% | 5.2% | 4.7% | 6.0% |
| ROA | 0.9% | 0.9% | -18.7% | -1.5% | 3.7% | 5.1% | 0.5% | 3.6% | 3.9% | 5.0% |
| ROIC | 4.8% | 4.8% | -18.8% | 0.5% | 5.0% | 5.0% | 0.7% | 3.6% | 4.6% | 5.8% |
| ROCE | 4.9% | 4.9% | -20.2% | 0.6% | 6.0% | 5.8% | 0.8% | 4.4% | 5.6% | 7.2% |
NVST Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Envista Holdings Corp carries a Debt/EBITDA ratio of 5.0x, which is highly leveraged (52% above the sector average of 3.3x). Net debt stands at $496M ($1.7B total debt minus $1.2B cash). Interest coverage of 6.2x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.55 | 0.55 | 0.53 | 0.40 | 0.36 | 0.37 | 0.53 | 0.43 | — | — |
| Debt / EBITDA | 5.00 | 5.00 | — | 9.90 | 3.35 | 3.45 | 11.23 | 4.22 | — | — |
| Net Debt / Equity | — | 0.16 | 0.16 | 0.17 | 0.22 | 0.10 | 0.29 | 0.37 | 0.00 | 0.00 |
| Net Debt / EBITDA | 1.45 | 1.45 | — | 4.27 | 2.02 | 0.95 | 6.19 | 3.64 | 0.00 | 0.00 |
| Debt / FCF | — | 2.15 | 1.58 | 3.28 | 8.62 | 1.34 | 4.61 | 4.15 | 0.00 | 0.00 |
| Interest Coverage | 6.17 | 6.17 | 3.37 | 5.16 | 9.37 | 6.88 | 2.04 | 71.00 | — | — |
NVST Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Envista Holdings Corp's current ratio of 2.38x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.04x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.23x to 2.38x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.38 | 2.38 | 2.04 | 2.23 | 1.15 | 1.52 | 0.94 | 1.41 | 1.23 | 1.26 |
| Quick Ratio | 2.04 | 2.04 | 1.76 | 1.90 | 0.91 | 1.30 | 0.82 | 1.02 | 0.79 | 0.83 |
| Cash Ratio | 1.42 | 1.42 | 1.22 | 1.20 | 0.49 | 0.89 | 0.53 | 0.30 | — | — |
| Asset Turnover | — | 0.48 | 0.47 | 0.39 | 0.39 | 0.38 | 0.28 | 0.37 | 0.49 | 0.47 |
| Inventory Turnover | 4.25 | 4.25 | 4.64 | 4.31 | 3.59 | 3.97 | 3.96 | 3.36 | 4.43 | 4.29 |
| Days Sales Outstanding | — | 57.66 | 52.77 | 57.95 | 55.91 | 48.29 | 57.08 | 70.87 | 59.00 | 60.13 |
NVST Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Envista Holdings Corp returns 4.1% to shareholders annually primarily through share buybacks. The earnings yield of 1.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.2% | 1.3% | — | — | 4.0% | 3.3% | 0.8% | 4.6% | — | — |
| FCF Yield | 5.7% | 6.3% | 9.1% | 5.4% | 1.8% | 3.8% | 4.3% | 7.9% | — | — |
| Buyback Yield | 4.1% | 4.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — | — |
| Total Shareholder Yield | 4.1% | 4.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — | — |
| Shares Outstanding | — | $169M | $172M | $167M | $178M | $178M | $164M | $136M | $155M | $155M |
Peer Comparison
Compare NVST with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NVSTYou | $4B | 86.7 | 13.3 | 17.5 | 55.0% | 8.3% | 1.6% | 4.8% | 5.0 |
 XRAY | $2B | -3.7 | 7.2 | 21.1 | 50.0% | 6.8% | -36.4% | 5.1% | 4.1 |
 ALGN | $12B | 29.8 | 13.9 | 24.6 | 68.3% | 15.3% | 10.4% | 15.4% | 0.1 |
 HSIC | $8B | 21.6 | 10.9 | 14.1 | 29.1% | 5.7% | 8.3% | 7.1% | 3.4 |
 MMSI | $4B | 29.3 | 13.1 | 17.2 | 48.7% | 12.2% | 8.7% | 7.2% | 2.8 |
 NVCR | $2B | -13.8 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 OMCL | $2B | 978.1 | 23.6 | 22.7 | 42.5% | 0.4% | 0.2% | 0.3% | 2.4 |
 ITGR | $3B | 30.4 | 13.1 | 28.8 | 23.1% | 11.3% | 6.1% | 5.4% | 4.2 |
 ATRC | $1B | -115.8 | 77.7 | 29.2 | 74.4% | -0.6% | -2.4% | -0.6% | 5.2 |
 SYK | $113B | 35.0 | 20.3 | 26.3 | 64.0% | 19.5% | 15.1% | 11.4% | 2.4 |
 ZBH | $16B | 23.5 | 9.5 | 11.1 | 61.6% | 16.5% | 5.6% | 5.4% | 3.1 |
| Healthcare Median | — | 22.3 | 14.4 | 18.5 | 63.9% | -5.2% | -33.7% | -11.2% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonNVST — Frequently Asked Questions
Quick answers to the most common questions about buying NVST stock.
What is Envista Holdings Corp's P/E ratio?
Envista Holdings Corp's current P/E ratio is 86.7x. The historical average is 57.0x. This places it at the 80th percentile of its historical range.
What is Envista Holdings Corp's EV/EBITDA?
Envista Holdings Corp's current EV/EBITDA is 13.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.3x.
What is Envista Holdings Corp's ROE?
Envista Holdings Corp's return on equity (ROE) is 1.6%. The historical average is -0.1%.
Is NVST stock overvalued?
Based on historical data, Envista Holdings Corp is trading at a P/E of 86.7x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Envista Holdings Corp's profit margins?
Envista Holdings Corp has 55.0% gross margin and 8.3% operating margin.
How much debt does Envista Holdings Corp have?
Envista Holdings Corp's Debt/EBITDA ratio is 5.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.