Credit and interest ratesnegative · 5 filings
“The decrease in interest expense for the six months ended July 3, 2026 when compared to the comparable period in 2025 was primarily due to lower interest rates.”10-Q · Aug 5, 2026 ↗
Envista Holdings Corporation
NVST
Market read
Envista Holdings Corporation's current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
What changed
- Revenue increased 7.1% versus the comparable filing period.
Company-1.2% todayVolume comparison unavailable
Market group0 of 2 activeDental Products · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Sales increased in North America and Europe but were partially offset by lower demand in China for the three months ended April 3, 2026.
Invalidation: The isolated read changes if NVST's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Evidence that supports
- Revenue increased 7.1% versus the comparable filing period.
- Operating margin improved 4.2 percentage points.
- Net income increased 103.4% versus the comparable filing period.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- Sales increased in North America and Europe but were partially offset by lower demand in China for the three months ended April 3, 2026.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements75
Verified relationships1
Evidence supporting the case
- Latest annual revenue changed +8.3% year over year.
- Operating margin changed +49.3 percentage points in the latest annual period.
- Net margin changed +46.3 percentage points in the latest annual period.
- Operating cash flow covered net income at 5.87x in the latest annual period.
Evidence challenging the case
- Credit and interest rates has repeated adverse evidence across 5 filings.
- Foreign exchange has repeated adverse evidence across 5 filings.
- Restructuring and cost reductions has repeated adverse evidence across 5 filings.
- Input and raw-material costs has repeated adverse evidence across 3 filings.
- Macroeconomic conditions has repeated adverse evidence across 3 filings.
- Supply chain and availability has repeated adverse evidence across 3 filings.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 11, 2026
25.546m+0.4%12m+23.0%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.5B+30.1%$1.92+8.2%
2022-12-31$2.6B+2.4%$1.37+0.0%
2023-12-31$2.6B-0.1%$-0.60-6.0%
2024-12-31$2.5B-2.2%$-6.50+3.2%
2025-12-31$2.7B+8.3%$0.28-1.7%
What management says matters
Persistent and emerging business drivers
Foreign exchangenegative · 5 filings
“The increase was primarily due to a $20.3 million increase in investments related to our commercial growth initiatives, $14.8 million increase in costs due to unfavorable foreign exchange rates, partially offset by $8.0 million in lower costs related to restr…”10-Q · Aug 5, 2026 ↗
Restructuring and cost reductionsnegative · 5 filings
“Goodwill attributable to the acquisition has been recorded as a non-current asset and is not amortized, but is subject to review at least on an annual basis for impairment.”10-Q · Aug 5, 2026 ↗
Demand and volumemixed · 4 filings
“Geographically, sales for the three months ended April 3, 2026 were positively impacted by higher sales from North America and Europe, partially offset by lower demand in China.”10-Q · May 6, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.6× · EV/sales 1.7×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
25.54-1.2% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for NVST. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
Fundamentals strengthened in the latest filing
10-Q filed 2026-08-05 against the comparable filing from 2025-07-31.
OperationsconstructiveEvidence score +3
liquidityneutralEvidence score 0
valuationmixed
Capital and cash conversion
Reported investment and cash context
- Capital spending YoY
- +50.5%
- Capital spending / revenue
- +1.9%
- Free-cash-flow margin
- +6.2%
- FCF margin change
- +0.7 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Revenue increased 7.1% versus the comparable filing period.
- Operating margin improved 4.2 percentage points.
- Net income increased 103.4% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“The 250 basis point increase in operating profit margin was primarily due to an approximately 530 basis point improvement resulting from higher sales as discussed above, partially offset by 180 basis point reduction related to investments in commercial growth initiatives and 120 basis point reduction due to higher restructuring costs.”
“The 260 basis point increase in operating profit margin was primarily due to an approximately 260 basis point improvement related to lower tariff costs due to receipt of tariff refunds, a 100 basis point improvement due to higher sales as discussed above, partially offset by a 100 basis point reduction due to investments related to our commercial growth initiatives.”
“The 170 basis point increase in operating profit margin was primarily due to an approximately 260 basis point improvement resulting from higher sales as discussed above, 60 basis point improvement related to lower tariff costs due to receipt of tariff refunds, partially offset by 190 basis point reduction related to investments in our commercial growth initiatives.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind NVST
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
SOLVSolventum CorporationcompetitorFeb 27, 2026 ▾
“Principal multinational competitors within the oral care market include Dentsply Sirona, Envista, and Straumann, all of which compete with both dental and orthodontic solutions, and Ivoclar, which competes with only dental solution offerings, and Align Techno…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
NVST is currently a Early Follower in the organic co-movement group Dental Products. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.