Latest Ratios: P/E Ratio -1.2x · EV/EBITDA 10.2x · ROE -58.4%. (2005–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.5B | $1.5B | $2.4B | $3.1B | $2.9B | $4.0B | $3.0B | $2.9B | $1.4B | $2.8B | $2.5B |
| Enterprise Value | $2.8B | $2.9B | $3.8B | $3.6B | $3.2B | $5.5B | $5.4B | $5.2B | $2.6B | $3.6B | $3.6B |
| P/E Ratio → | -1.22 | — | — | — | — | — | 59.30 | 152.72 | 10.34 | 18.63 | 19.82 |
| P/S Ratio | 0.65 | 0.67 | 1.15 | 1.79 | 1.85 | 2.84 | 2.72 | 0.86 | 0.40 | 0.85 | 0.70 |
| P/B Ratio | 0.97 | 1.01 | 0.95 | 0.89 | 0.84 | 0.87 | 0.85 | 0.82 | 0.42 | 0.76 | 0.82 |
| P/FCF | 73.76 | 75.96 | — | 239.15 | — | 16.07 | 16.28 | 514.34 | 9.25 | 18.79 | 13.82 |
| P/OCF | 6.76 | 6.96 | 21.37 | 22.62 | — | 11.36 | 10.09 | 21.78 | 6.40 | 12.88 | 10.28 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.27 | 1.79 | 2.08 | 2.05 | 3.88 | 4.78 | 1.57 | 0.70 | 1.10 | 0.99 |
| EV / EBITDA | 10.21 | 10.37 | — | 23.47 | 21.57 | 27.64 | 29.75 | 11.90 | 6.78 | 23.71 | 10.41 |
| EV / EBIT | — | — | — | — | 145.75 | — | — | 30.77 | 18.17 | 97.80 | 15.13 |
| EV / FCF | — | 143.40 | — | 278.34 | — | 21.96 | 28.62 | 943.23 | 16.40 | 24.12 | 19.72 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.8% | 59.8% | 56.0% | 58.0% | 55.6% | 54.5% | 53.9% | 42.1% | 30.9% | 31.2% | 31.4% |
| Operating Margin | -0.8% | -0.8% | -36.8% | -3.8% | -4.6% | -4.4% | -5.9% | 6.1% | 6.5% | 0.9% | 6.5% |
| Net Profit Margin | -52.7% | -52.7% | -39.2% | -1.9% | -0.9% | 5.0% | 3.8% | -15.9% | 3.8% | 4.6% | 3.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -58.4% | -58.4% | -27.6% | -1.0% | -0.3% | 1.7% | 1.2% | -15.1% | 3.9% | 4.4% | 4.0% |
| ROA | -27.7% | -27.7% | -17.9% | -0.8% | -0.2% | 0.9% | 0.6% | -7.5% | 2.1% | 2.3% | 2.0% |
| ROIC | -0.4% | -0.4% | -14.8% | -1.3% | -1.1% | -0.8% | -0.8% | 3.0% | 4.0% | 0.5% | 4.1% |
| ROCE | -0.5% | -0.5% | -18.6% | -1.7% | -1.3% | -0.9% | -1.0% | 3.4% | 4.3% | 0.5% | 4.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.92 | 0.92 | 0.55 | 0.16 | 0.10 | 0.46 | 0.67 | 0.71 | 0.34 | 0.28 | 0.42 |
| Debt / EBITDA | 5.01 | 5.01 | — | 3.54 | 2.25 | 10.82 | 13.39 | 5.66 | 3.16 | 6.95 | 3.71 |
| Net Debt / Equity | — | 0.90 | 0.53 | 0.15 | 0.09 | 0.32 | 0.64 | 0.68 | 0.32 | 0.21 | 0.35 |
| Net Debt / EBITDA | 4.88 | 4.88 | — | 3.30 | 2.09 | 7.42 | 12.82 | 5.41 | 2.96 | 5.24 | 3.11 |
| Debt / FCF | — | 67.44 | — | 39.19 | — | 5.89 | 12.34 | 428.89 | 7.15 | 5.33 | 5.90 |
| Interest Coverage | -32.29 | -32.29 | -13.41 | -2.40 | 0.88 | -3.18 | -1.25 | 1.42 | 2.88 | 0.92 | 7.98 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.02 | 2.02 | 2.17 | 2.43 | 1.41 | 2.25 | 1.68 | 1.64 | 1.63 | 1.89 | 1.61 |
| Quick Ratio | 1.04 | 1.04 | 1.13 | 1.16 | 0.65 | 1.90 | 0.98 | 0.97 | 1.22 | 1.49 | 1.25 |
| Cash Ratio | 0.06 | 0.06 | 0.09 | 0.10 | 0.04 | 0.66 | 0.12 | 0.13 | 0.20 | 0.38 | 0.20 |
| Asset Turnover | — | 0.59 | 0.45 | 0.38 | 0.37 | 0.17 | 0.15 | 0.45 | 0.56 | 0.49 | 0.57 |
| Inventory Turnover | 1.54 | 1.54 | 1.69 | 1.53 | 1.63 | 1.82 | 0.92 | 3.37 | 5.10 | 5.29 | 6.19 |
| Days Sales Outstanding | — | 71.89 | 70.49 | 62.32 | 62.44 | 65.25 | 168.38 | 61.63 | 38.48 | 107.30 | 83.95 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | 1.7% | 0.7% | 9.7% | 5.4% | 5.0% |
| FCF Yield | 1.4% | 1.3% | — | 0.4% | — | 6.2% | 6.1% | 0.2% | 10.8% | 5.3% | 7.2% |
| Buyback Yield | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 13.8% | 0.0% | 0.8% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 13.8% | 0.0% | 0.8% |
| Shares Outstanding | — | $57M | $55M | $54M | $54M | $51M | $46M | $46M | $40M | $41M | $41M |
High leverage and goodwill
According to current market data, Enovis trades at a price-to-sales ratio of 0.58, which appears to reflect significant investor skepticism regarding the company's ability to translate its recent portfolio acquisitions into sustainable, positive earnings growth compared to its more established, higher-multiple peers in the medical device sector.
The negative trailing P/E ratio suggests that the market is currently valuing the company based on its asset base and revenue potential rather than its bottom-line profitability. Investors should monitor whether the forward P/E of 6.22 indicates a genuine undervaluation or if it merely reflects overly optimistic analyst expectations for a rapid turnaround in net margins.
Based on reported financial figures, Enovis has struggled to generate meaningful returns on invested capital, with ROIC hovering near 0.5% in 2026Q1, a trend that suggests the company's aggressive acquisition strategy has yet to yield the expected synergistic returns on its deployed capital base.
The persistent low ROIC indicates that the capital invested in recent platform expansions is currently being offset by the high costs of integration and amortization. This trend warrants further investigation into whether the company can improve its capital efficiency as it moves past the initial phase of its post-spin-off transformation.
As reported in recent quarterly filings, Enovis maintains a cash conversion cycle of 208 days as of 2026Q1, a figure that appears elevated compared to industry norms and suggests significant capital is tied up in inventory and receivables rather than being deployed for operational growth.
The high days inventory outstanding, which reached 236 days in 2025Q4, highlights the potential risks associated with maintaining large amounts of consignment inventory at hospitals. This inefficiency may be a structural byproduct of the company's business model, which requires significant on-site product availability to maintain surgeon relationships.
Based on quarterly balance sheet data, the company's debt-to-equity ratio has climbed to 0.95 as of 2026Q1, indicating that Enovis has significantly increased its financial leverage to fund its strategic pivot, which may limit its capacity for further large-scale acquisitions in the near term.
The interest coverage ratio of 1.06 in 2026Q1 suggests that the company's ability to service its debt is currently tight, leaving little room for operational errors. Investors should monitor whether management can deleverage the balance sheet through organic cash flow generation rather than relying on further equity or debt financing.
The most commonly misapplied metric for Enovis is the GAAP net margin, which, at -1.5% in 2026Q1, obscures the underlying cash-generative potential of the business by failing to account for significant non-cash amortization charges stemming from recent strategic acquisitions and the company's complex corporate restructuring.
Analysts should instead focus on adjusted EBITDA or free cash flow metrics to better gauge the company's operational health. Relying solely on GAAP net income may lead to an overly pessimistic view of the company's financial stability, as it ignores the non-recurring nature of many current expenses.
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying ENOV stock.
Enovis Corporation's current P/E ratio is -1.2x. The historical average is 46.4x.
Enovis Corporation's current EV/EBITDA is 10.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.3x.
Enovis Corporation's return on equity (ROE) is -58.4%. The historical average is 8.8%.
Based on historical data, Enovis Corporation is trading at a P/E of -1.2x. Compare with industry peers and growth rates for a complete picture.
Enovis Corporation has 59.8% gross margin and -0.8% operating margin.
Enovis Corporation's Debt/EBITDA ratio is 5.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.