NVST Envista Holdings Corp

Overview and Growth

In fiscal 2025, Envista Holdings Corp recorded $2.72B of revenue, net income of $47.00M, and an operating cash inflow of $275.70M. At $2.72B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 8.3% above fiscal 2024 revenue of $2.51B, marking a year-over-year increase. On a per-share basis, diluted EPS was $0.28, which connects the reported earnings outcome with the company’s diluted share count. Revenue equaled 0.48x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $1.49B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 54.7%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $216.10M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 7.9%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $47.00M, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 1.7% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $177.20M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 6.5% of revenue, placing earnings before tax in the context of the company’s operating scale. Income tax expense totaled $130.20M, providing the reported tax component that separates pretax and after-tax earnings. The income-tax provision equaled 73.5% of pretax income, showing the tax burden absorbed by the year’s earnings. Net income equaled 1.5% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 0.8% of period-end assets, placing the company’s bottom-line result against the total resource base employed.

Liquidity and Capital Structure

At period end, current assets of $2.03B compared with current liabilities of $852.60M, defining the company’s short-term resource position. Current assets covered current liabilities by 2.38x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $1.21B, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 142.1%, excluding receivables and other current assets. Total debt was $1.45B, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.47x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 25.5%, comparing borrowing with the total asset balance. The cash-to-assets relationship was 21.3%, comparing reported cash and equivalents with the full positive asset balance. Compared with $5.35B in fiscal 2024, the current asset base moved 6.1% and finished higher.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $275.70M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 5.87x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $45.30M of capital expenditures, the investment amount considered after operating cash generation. Capital spending absorbed 16.4% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $230.40M, leaving a positive amount after capital expenditures. Relative to revenue, free cash flow equaled 8.5%, showing how much sales converted into cash after investment. Free cash flow equaled 4.1% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.