Envista Holdings Corp

Listed Company

NVSTCIK 0001757073NYSELarge AcceleratedDental Equipment & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.72B

Net Income

$47.00M

Total Assets

$5.68B

Equity

$3.11B

Shares Out

163.88M

Op. Cash Flow

$275.70M

Business

Envista Holdings Corp is a global family of dental brands that designs, manufactures and markets dental products, technologies and services to partner with professionals in digitizing, personalizing and democratizing oral care. Its main offerings include implant systems and regenerative solutions, orthodontic brackets and clear aligners, diagnostic imaging and intraoral scanners, restorative and endodontic consumables, infection prevention products, treatment planning software (DTX) and clinical education. The company operates through two segments: Specialty Products & Technologies (Implant-Based Tooth Replacement and Orthodontic Solutions) and Equipment & Consumables (Diagnostic Solutions and Consumables). It serves dental professionals in over 130 countries via a large direct commercial organization and third‑party distributors and channel partners.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	2,720	2,511	2,567	2,569	2,509
Cost of sales	1,233	1,138	1,126	1,094	1,082
Gross profit	1,487	1,373	1,441	1,475	1,427
Selling, general and administrative	1,157	1,158	1,057	1,056	1,020
Research and development	114	99	94	100	101
Goodwill and intangible asset impairments	0	1,154	258	0	0
Operating profit (loss)	216	−1,038	32	319	306
Other expense, net	−2	−100,000	−23	3	2
Interest expense, net	−37	−46	−63	−38	—
Income (loss) before income taxes	177	−1,085	−55	284	255
Income tax expense	130	34	45	46	−9
Net income (loss)	47	−1,119	−100	243	341
Earnings (Loss) - basic (in USD per share)	0.28	−6.5	−0.6	1.49	2.11
Earnings (Loss) - diluted (in USD per share)	0.28	−6.5	−0.6	1.37	1.92
Basic (in shares)	168	172	167	163	161
Diluted (in shares)	169	172	167	178	178

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,212	1,069	940	607	1,074
Trade accounts receivable, less allowance for credit losses of $22.5 and $26.6, respectively	430	363	408	394	332
Inventories, net	288	241	259	301	264
Prepaid expenses and other current assets	97	115	137	123	154
Total current assets	2,027	1,788	1,744	1,425	1,836
Property, plant and equipment, net	297	277	310	294	264
Operating lease right-of-use assets	142	143	125	132	128
Other long-term assets	228	231	181	154	168
Goodwill, net	2,358	2,262	3,292	3,497	3,132
Other intangible assets, net	627	650	954	1,087	1,046
Total assets	5,679	5,351	6,605	6,587	6,574
Short-term debt	0	116	115	510	432
Trade accounts payable	192	175	180	228	186
Accrued expenses and other liabilities	622	554	456	471	562
Operating lease liabilities	39	35	30	27	24
Total current liabilities	853	879	781	1,237	1,208
Operating lease liabilities	110	119	110	121	120
Other long-term liabilities	161	140	142	151	304
Long-term debt	1,448	1,278	1,398	871	883
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.01 par value, 15.0 million shares authorized; no shares issued or outstanding at December 31, 2025 and December 31, 2024	0	0	0	0	0
Common stock, $0.01 par value, 500.0 million shares authorized; 175.4 million shares issued and 163.8 million shares outstanding at December 31, 2025; 174.2 million shares issued and 172.2 million shares outstanding at December 31, 2024	2	2	2	2	2
Treasury stock at cost; 11.6 million shares and 2.0 million shares at December 31, 2025 and December 31, 2024, respectively	−225	−51	—	—	—
Additional paid-in capital	3,883	3,842	3,758	3,699	3,733
Accumulated deficit	−440	−487	631	731	467
Accumulated other comprehensive loss	−113	−371	−217	−225	−144
Total stockholders equity	3,106	2,935	4,174	4,207	4,058
Total liabilities and stockholders equity	5,679	5,351	6,605	6,587	6,574

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	40	41	36	32	41
Amortization	76	82	100	106	83
Allowance for credit losses	10	18	7	5	6
Stock-based compensation expense	38	35	31	31	28
Gain on investments in rabbi trust, net	−4	−700,000	0	—	—
Loss (gain) on equity investments, net	6	1	−4	0	—
Loss (gain) on sale of property, plant and equipment	2	3	−5	−2	−2
Restructuring charges	0	0	1	5	11
Fixed assets impairments and other charges	2	17	200,000	6	18
Non-cash operating lease costs	35	31	27	24	28
Inducement expense related to exchange of convertible notes	0	0	29	0	0
Amortization of debt discount and issuance costs	4	5	5	4	23
Deferred income taxes	11	−29	−37	−29	−59
Change in trade accounts receivable	−49	10	−17	−71	−43
Change in inventories	−29	4	35	−40	−66
Change in trade accounts payable	8	−1	−46	45	−20
Change in prepaid expenses and other assets	8	−7	3	−12	−12
Change in accrued expenses and other liabilities	116	135	−12	−133	34
Change in operating lease liabilities	−45	−43	−35	−32	−38
Net cash provided by operating activities	276	337	276	183	362
Payments for additions to property, plant and equipment	−45	−34	−58	−76	−55
Purchases of investments held in rabbi trust	−10	−33	0	0	—
Proceeds from sale of investments held in rabbi trust	10	9	0	0	—
Proceeds from sales of property, plant and equipment	500,000	100,000	6	3	12
Proceeds from sale of equity investment	0	400,000	11	0	0
All other investing activities, net	−7	2	−21	−19	−16
Net cash used in investing activities	−51	−55	−62	−657	263
Proceeds from stock option exercises	3	2	11	22	20
Cash paid for treasury stock	−167	0	0	—	—
Tax withholding payment related to net settlement of equity awards	−6	−5	−8	−9	−7
Proceeds from issuance of convertible notes due 2028	0	0	500	0	0
Principal paid related to exchange of convertible notes due 2025	−116	0	−401	0	0
Proceeds from borrowings	0	0	324	300,000	0
Repayment of borrowings	0	−100	−289	−500,000	—
Proceeds from revolving line of credit	115	0	0	124	0
All other financing activities	0	−800,000	100,000	0	100,000
Net cash (used in) provided by financing activities	−171	−104	119	13	−466
Effect of exchange rate changes on cash and cash equivalents	89	−49	900,000	−5	26
Net change in cash and cash equivalents	143	129	333	−467	185
Cash paid for interest	46	55	63	38	36
Cash paid for taxes	80	33	99	119	84
ROU assets obtained in exchange for operating lease obligations	25	55	22	36	25

Filings

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