One-glance verdict
Overvalued
$-13.06 our estimate vs market $28.54
Wall Street consensus: $37.83 (-389.6% lower than our fair-value estimate)
318% below our estimate, beyond the bull case
Fundamentals snapshot
Enovis Corporation
ENOV · NYQ · Healthcare · Medical Devices
Current price
$28.54
52-week range
$16.70 - $32.41
Market cap
$1.65B
Balance sheet
Distressed
-0.54x Concerning
Net debt $1.31B. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
3 Risks
2 rewards · 3 risks
- Reward Revenue grew 2.6% last year.
- Reward Free cash flow was positive in 8/10 years.
- Risk Net debt grew 332.5% over 3 years.
- Risk Return on equity was -30.0% last year — the company lost money on shareholders' equity.
What this company does
Enovis Corporation
Enovis Corporation makes medical devices that help people recover from injuries and surgeries, like braces, implants for joint replacements, and pain relief tools. Most of their money comes from selling these products to doctors and healthcare professionals who use them to treat patients with bone and muscle issues. This matters because it means Enovis plays a direct role in helping people get better and move again after medical procedures or injuries.
How the company got here
Enovis Corporation wasn't always known by this name. It was formerly called Colfax Corporation, a company with a much broader focus that included industrial products. The transformation into Enovis in 2022 marked a strategic pivot, allowing the company to concentrate solely on the medical technology space. This rebranding and refocusing aimed to highlight its commitment to innovation in healthcare solutions. The company traces its roots back to 1995, building a foundation in specialized medical products over the years.
What it actually does
Enovis Corporation is a medical technology company dedicated to creating advanced solutions that help people move better and live healthier lives. Think of them as the behind-the-scenes innovators for treatments that fix bones, joints, and muscles. They develop and sell a variety of products that doctors and physical therapists use to help patients recover from injuries or manage chronic conditions. Their goal is to provide tools that improve patient outcomes and make recovery smoother.
Prevention and Recovery
This part of Enovis focuses on helping people avoid injuries and recover from them. They offer a range of products like braces (both rigid ones for strong support and softer ones for comfort) and devices that use heat or cold to reduce swelling and pain. They also make special garments that help with blood circulation and devices that use electrical pulses to manage pain. These products are used by various healthcare professionals, from orthopedic specialists to physical therapists, to treat a wide array of muscle and bone issues. This segment is a significant part of Enovis's business, providing tools for both immediate care and long-term rehabilitation.
Reconstructive
The Reconstructive segment is all about restoring movement and improving lives through surgery, particularly joint replacements. Enovis designs, manufactures, and sells specialized implants (like artificial hips and knees), the instruments surgeons use to put them in place, and other advanced technologies. They also offer solutions for limb reconstruction and procedures involving the foot and ankle. These products are crucial for patients needing surgery to fix damaged joints or bones, aiming to get them back to their daily activities with better mobility and outcomes. This segment represents a key area of Enovis's expertise in surgical innovation.
What management is betting on now
Enovis's leadership is focused on driving innovation within its core medical technology areas. They are investing in developing new, clinically differentiated products that offer clear advantages for both patients and healthcare providers. A key priority is expanding their market reach and strengthening their position in both the Prevention and Recovery and Reconstructive segments. Management believes that by focusing on these specialized areas and continuously improving their offerings, they can achieve sustained growth and better serve the evolving needs of the healthcare industry.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q2
$-44.86M
FY2025 Q3
$3.40M
FY2025 Q4
$29.09M
FY2026 Q2
$-28.85M
FY2026 Q3
$31.14M
FY2026 Q4
$34.99M
Revenue
$558.73M
Net income
$3.14M
Diluted EPS
0.06
Operating cash flow
$71.49M
Free cash flow
$34.99M
Fetching…
Sources
Revenue
$582.78M
Net income
$-1.19M
Diluted EPS
-0.02
Operating cash flow
$75.03M
Free cash flow
$31.14M
Fetching…
Sources
Revenue
$589.15M
Net income
$-8.76M
Diluted EPS
-0.15
Operating cash flow
$23.95M
Free cash flow
$-28.85M
Fetching…
Sources
Revenue
$548.91M
Net income
$-571.15M
Diluted EPS
-9.99
Operating cash flow
$82.58M
Free cash flow
$29.09M
Fetching…
Sources
Revenue
$564.54M
Net income
$-36.74M
Diluted EPS
-0.64
Operating cash flow
$47.77M
Free cash flow
$3.40M
Fetching…
Sources
Revenue
$558.83M
Net income
$-55.97M
Diluted EPS
-0.98
Operating cash flow
$-1.60M
Free cash flow
$-44.86M
Fetching…
Sources
Is it cheap or expensive?
Fair value $-13.06 vs current price $28.54
Wall Street consensus is the average analyst price target: $37.83 (-389.6% lower than our fair-value estimate).
Our most-likely fair value is $-13.06 a share — about 145.8% below today's price of $28.54, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Distressed
Net debt $1.3B. Interest coverage -0.5x.
Net debt
$1.31B
Interest coverage
-0.54x
Enovis Corporation's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
ENOV
BASELINE
Enovis Corporation
Total debt $1.32B Interest coverage -0.54x This is the baseline the peer rows are being compared against.
Total debt $815.87M Interest coverage 3.30x This peer still has a real interest-payment cushion, while ENOV does not.
Total debt $2.00B Interest coverage 0.21x This peer still has a real interest-payment cushion, while ENOV does not.
Total debt $261.90M Interest coverage -4.72x Neither company has much profit cushion over interest right now.
Total debt $593.95M Interest coverage -1.26x Neither company has much profit cushion over interest right now.
Total debt $244.15M Interest coverage 2.13x This peer still has a real interest-payment cushion, while ENOV does not.
What you should know
The case for and against ENOV
2 Rewards
3 Risks
Rewards
-
Revenue grew 2.6% last year.
-
Free cash flow was positive in 8/10 years.
Risks
-
Net debt grew 332.5% over 3 years.
-
Return on equity was -30.0% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 1.6% (peer median: 11.6%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
8.14x
P/B
1.10x
P/S
0.71x
EV/EBITDA
7.58x
PEG ratio
3.45x
Profitability
How much profit each dollar creates
Gross margin
61.5%
Operating margin
4.0%
Net margin
-22.9%
ROE
-30.0%
ROA
1.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.88x
Current ratio
2.15x
Quick ratio
0.76x
Total debt
$1.32B
Total cash
$13.04M
Growth
How the business has been compounding
Revenue TTM
$2.31B
Revenue 5Y CAGR
12.0%
EPS TTM
-9.70
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$259.02M
Free CF TTM
$19.92M
FCF margin
0.9%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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