One-glance verdict
Undervalued
$26.11 our estimate vs market $10.09
Wall Street consensus: $12.40 (-52.5% lower than our fair-value estimate)
61% below our estimate, below the bear case
Fundamentals snapshot
DENTSPLY SIRONA Inc.
XRAY · NMS · Healthcare · Medical Instruments & Supplies
Current price
$10.09
52-week range
$8.32 - $14.76
Market cap
$2.01B
Balance sheet
Stretched
2.86x Stretched
Net debt $2.09B. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
3 Risks
1 rewards · 3 risks
- Reward Free cash flow was positive in 10/10 years.
- Risk Return on equity was -33.0% last year — the company lost money on shareholders' equity.
- Risk Net debt grew 20.2% over 3 years.
- Risk Insider ownership is only 0.6% (peer median: 0.7%).
What this company does
DENTSPLY SIRONA Inc.
DENTSPLY SIRONA sells a wide range of products for dentists and patients, from the equipment used in the dental chair to tools for root canals and even solutions for urinary issues. Their money primarily comes from selling these dental and healthcare products globally. Understanding what they sell helps us see how much they are involved in improving dental health worldwide.
How the company got here
DENTSPLY SIRONA Inc. has a long history, tracing its roots back to 1877. The company, formerly known as DENTSPLY International Inc., adopted its current name in February 2016 after a significant merger. This evolution reflects a strategy of growth and consolidation within the dental and healthcare industries, aiming to become a comprehensive provider of dental solutions. Headquartered in Charlotte, North Carolina, the company has built its foundation on innovation and expanding its product offerings over many decades.
What it actually does
DENTSPLY SIRONA Inc. is a global leader in developing and manufacturing a wide array of products for dentists and patients. Think of them as a one-stop shop for dental practices, providing everything from the chairs dentists use to sophisticated imaging equipment and the materials they use to fill cavities or perform root canals. They also offer solutions for orthodontics, like clear aligners, and even extend into urology and enterology with specialized medical devices.
Connected Technology Solutions
This segment focuses on the high-tech side of dentistry. It includes advanced imaging equipment that dentists use to see inside a patient's mouth in 3D, motorized tools for procedures, and treatment centers. They also offer intraoral scanners, which are like digital cameras for the mouth, and 3-D printers and mills used to create dental restorations like crowns right in the office. This part of the business is crucial for modern, efficient dental practices.
Essential Dental Solutions
This is the segment that provides the everyday tools and materials dentists need for common procedures. It includes instruments for root canals, materials for fillings and other restorative work, diagnostic tools to check for problems, and cleaning equipment. They also supply anesthetics for numbing, pastes for polishing, and materials used to take impressions of patients' teeth, forming the backbone of routine dental care.
Orthodontic and Implant Solutions
This business line is dedicated to straightening teeth and replacing missing ones. It offers clear aligners, which are custom-made plastic trays that gradually move teeth, along with devices that use vibration to speed up treatment. This segment also provides dental implants, which are artificial tooth roots, and the materials and software needed for planning and executing these complex procedures, including digital dentures and bone regeneration solutions.
Wellspect Healthcare
Expanding beyond just dental, this segment provides specialized medical devices for urology and enterology. They offer products like catheters, which help manage urinary issues, and advanced irrigation systems designed to assist individuals dealing with chronic constipation. This shows the company's diversification into broader healthcare needs, leveraging its expertise in medical device development.
What management is betting on now
DENTSPLY SIRONA's management is focused on integrating advanced digital technologies across all its offerings, making dental care more efficient and precise. They are emphasizing cloud-enabled solutions, like their DS Core platform, which helps manage patient data and treatment planning in 3D. The strategy also involves strengthening their position in areas like clear aligners and dental implants, while continuing to innovate in their core product lines to support dental professionals worldwide.
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.
FY2024 Q4
$36.00M
FY2025 Q1
$-12.00M
FY2025 Q2
$16.00M
FY2025 Q3
$40.00M
FY2025 Q4
$60.00M
FY2026 Q1
$-12.00M
FY2026 Q2
$55.00M
FY2026 Q3
$0.00
Revenue
$836.00M
Net income
$-2.00M
Diluted EPS
-0.01
Operating cash flow
$32.00M
Free cash flow
$0.00
Fetching…
Sources
Revenue
$898.00M
Net income
$37.00M
Diluted EPS
0.18
Operating cash flow
$99.00M
Free cash flow
$55.00M
Fetching…
Sources
Revenue
$880.00M
Net income
$-10.00M
Diluted EPS
-0.05
Operating cash flow
$40.00M
Free cash flow
$-12.00M
Fetching…
Sources
Revenue
$961.00M
Net income
$-146.00M
Diluted EPS
-0.74
Operating cash flow
$101.00M
Free cash flow
$60.00M
Fetching…
Sources
Revenue
$904.00M
Net income
$-427.00M
Diluted EPS
-2.14
Operating cash flow
$79.00M
Free cash flow
$40.00M
Fetching…
Sources
Revenue
$936.00M
Net income
$-45.00M
Diluted EPS
-0.22
Operating cash flow
$48.00M
Free cash flow
$16.00M
Fetching…
Sources
Revenue
$879.00M
Net income
$20.00M
Diluted EPS
0.10
Operating cash flow
$7.00M
Free cash flow
$-12.00M
Fetching…
Sources
Revenue
$905.00M
Net income
$-430.00M
Diluted EPS
-2.09
Operating cash flow
$87.00M
Free cash flow
$36.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $26.11 vs current price $10.09
Wall Street consensus is the average analyst price target: $12.40 (-52.5% lower than our fair-value estimate).
Our most-likely fair value is $26.11 a share — about 158.8% above today's price of $10.09, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Stretched
Net debt $2.1B. Interest coverage 2.9x.
Net debt
$2.09B
Interest coverage
2.86x
DENTSPLY SIRONA Inc.'s profit covers its interest bill about 2.9 times over. which is weaker than most peers shown here.
Stretched
Worse cushion
Baseline
Better cushion
XRAY
BASELINE
DENTSPLY SIRONA Inc.
Total debt $2.33B Interest coverage 2.86x This is the baseline the peer rows are being compared against.
Total debt $112.30M Interest coverage 36.48x +1,174% vs XRAY Carries about 12.7x more debt cushion than XRAY.
Total debt $1.59B Interest coverage 6.44x +125% vs XRAY Carries about 2.2x more debt cushion than XRAY.
Total debt $3.89B Interest coverage 5.05x +76% vs XRAY Carries about 1.8x more debt cushion than XRAY.
Total debt $2.80B Interest coverage 6.83x +138% vs XRAY Carries about 2.4x more debt cushion than XRAY.
What you should know
The case for and against XRAY
1 Reward
3 Risks
Rewards
-
Free cash flow was positive in 10/10 years.
Risks
-
Return on equity was -33.0% last year — the company lost money on shareholders' equity.
-
Net debt grew 20.2% over 3 years.
-
Insider ownership is only 0.6% (peer median: 0.7%).
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)
—
Forward P/E
6.83x
P/B
1.49x
P/S
0.55x
EV/EBITDA
7.79x
PEG ratio
0.72x
Profitability
How much profit each dollar creates
Gross margin
49.5%
Operating margin
9.2%
Net margin
-15.0%
ROE
-33.0%
ROA
2.0%
Health
Liquidity and balance-sheet strength
Debt / equity
1.72x
Current ratio
1.63x
Quick ratio
0.72x
Total debt
$2.33B
Total cash
$239.00M
Growth
How the business has been compounding
Revenue TTM
$3.58B
Revenue 5Y CAGR
-3.4%
EPS TTM
-2.58
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$272.00M
Free CF TTM
$104.00M
FCF margin
2.9%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
29.6%
Last ex-div date
2025-12-26