Enovis CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Enovis CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,186	3,300	3,667	3,327	1,121	1,426	1,563	1,707	2,108	2,248
Cost of revenue	2,193	1,266	1,464	1,926	517	649	694	716	927	903
Gross profit	992	672	729	1,401	604	778	869	991	1,181	1,345
Research and development					34.3	49.1	60.8	75.3	91.3	120
Selling, general and administrative	697	501	549	1,132	515	666	773	830	1,027	1,070
Operating income	237	136	152	204	-66.2	-62.8	-71.2	-65.7	-776	-1,124
Interest expense	30.3	40.1	49.1	120	52.8	29.1	24.1	19.7	57.1	34.8
Other non-operating income						0	2.09	25.7	9.9	-0.37
Pre-tax income	207	48.6	92.4	50.5	-119	-122	-2.07	-67.1	-823	-1,159
Income tax	51.8	2.48	-29.5	31.6	-44.6	-19.5	36.1	-13.3	4.49	22.3
Income from continuing operations		46.1	122	18.9	-74.4	-102	-38.2	-53.8	-827	-1,182
Net income to minority interests	17.1	18.4	14.3	10.5	3.15	4.62
Net income	128	151	140	-528	42.6	71.7	-13.3	-33.3	-825	-1,184
EBITDA	366	208	233	419	102	124	132	151	152	220
EPS, basic	3.12	3.69	3.51	-11.67	0.93	1.40	-0.25	-0.61	-14.93	-20.75
EPS, diluted	3.12	3.66	3.48	-11.67	0.93	1.40	-0.25	-0.61	-14.93	-20.75
Shares, basic (weighted)	41	41.1	40.1	45.2	45.6	51.1	54.1	54.5	55.3	57.1
Shares, diluted (weighted)	41.1	41.3	40.3	45.6	45.6	51.1	54.1	54.5	55.3	57.1

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	209	262	77.2	110	97.1	680	24.3	36.2	48.2	36.4
Short-term investments	0	150	0
Receivables	839	970	387	562	517	255	267	291	407	443
Inventory	365	430	360	572	565	356	427	469	547	584
Other current assets	176	258	138	90.8	113	29.2	48.2	71.1	108	101
Total current assets	1,739	2,070	1,958	1,404	1,362	2,303	795	897	1,146	1,207
Property, plant and equipment	505	553	327	491	487	235	237	271	405	507
Lease right-of-use assets			0	173	174	76.5	66.9	63.5	68.9	72.3
Goodwill	2,351	1,430	1,498	3,203	1,761	1,934	1,984	2,061	1,693	718
Intangible assets	916	1,017	628	1,719	1,663	1,154	1,111	1,127	1,317	1,237
Other non-current assets	520	531	464	396	351	74.7	80.3	90.3	88.8	93.3
Total assets	6,338	6,710	6,616	7,387	7,352	8,516	4,273	4,509	4,719	3,835
Accounts payable	516	587	291	360	330	155	136	132	179	188
Accrued liabilities	311	359	291	470	454	225	210	237	330	376
Short-term debt	5.41	5.77	5.02	27.6	27.1	7.7	219	0	20	35
Total current liabilities	1,060	1,097	1,199	857	812	1,024	565	370	529	598
Long-term debt	1,287	1,055	1,192	2,284	2,204	2,079	40	466	1,309	1,262
Other non-current liabilities	733	830	652	619	609	122	167	204	264	425
Total liabilities	3,245	2,982	3,139	3,897	3,764	3,854	823	1,089	2,154	2,343
Total debt	1,292	1,061	1,197	2,312	2,231	2,086	259	466	1,330	1,297
Paid-in capital	3,200	3,228	3,058	3,446	3,478	4,544	2,926	2,901	2,973	3,048
Retained earnings	685	846	992	480	517	589	576	542	-283	-1,467
Other comprehensive income	-988	-580	-796	-484	-452	-516	-53.4	-24.9	-128	-91.4
Shareholders' equity	2,897	3,500	3,270	3,441	3,543	4,617	3,448	3,418	2,562	1,490
Minority interests	196	227	207	48.2	44.5	44.1	1.72	2.31	2.07	2.26
Total equity	3,093	3,727	3,477	3,490	3,588	4,661	3,450	3,421	2,564	1,492
Total liabilities and equity	6,338	6,710	6,616	7,387	7,352	8,516	4,273	4,509	4,719	3,835
Shares outstanding	40.9	41.1	39.1	39.4	118	52.1	54.2	54.6	55.9	57.2

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	145	170	154	-517	45.8	76.3	-11.8	-32.7	-825	-1,184
Depreciation and amortization	129	72.7	81.2	216	168	187	203	217	928	1,344
Stock-based compensation	19	21.5	25.1	22	28.9	35.4	39	34.1	29.7	32.9
Deferred income tax	-8.91	-56	-57	-32.4	-52	-30.2	24	-27.4	-10	-2.23
Change in receivables	-51	-44.3	-72.4	49.9	42.7	-111	-45.2	-16.3	-57.1	-10.8
Change in inventory	19.7	-34	-47.2	-44.9	23.8	-130	-119	-24.7	39.1	-12
Change in payables	37.1	10.3	70.1	-119	-30.7	178	-11.8	-6.64	14	-1.14
Cash from operations	247	219	226	131	302	356	-55.9	135	114	217
Capital expenditures	-63.3	-68.8	-69.6	-125	-115	-104	-105	-122	-181	-197
Acquisitions	-26	-347	-291	-3,151	-69.8	-223	-73.7	-153	-770	-26.9
Cash from investing	-82	89.9	-168	-1,633	-175	-320	-176	-242	-955	-179
Debt issued	0	374	0	1,000	0
Debt repaid	-37.5	-65.6	-131	-1,388	-40	0	-686	0	0
Stock issued	2.21	6.94	4.7	11.9	3.5	745	5.81	1.78	1.87	1.32
Share buybacks	-20.8	0	-200	0	0		0	0	-4.77	-3.5
Cash from financing	-145	-280	-47.2	1,369	-132	585	-465	128	847	-52.4
Exchange rate effect	4.5	12.1	-28.4
Net change in cash	24.3	40.3	-17	-135	-8.56	618	-695	20.5	3.34	-11.8
Free cash flow	184	150	157	5.55	187	252	-161	12.8	-67.2	19.9
Interest paid	35.8	43.5	50.4	139	105	85.5	37.1	16.3	51.8	27.4
Income taxes paid	77.1	70.7	97.5	135	59.4	47.2	31.4	12.5	10.8	18.4

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 3, 2026; growth uses fiscal years. Valuation uses the share price of $18.46 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	61.1%	Gross profit / revenue.
Operating margin	-45.1%	Operating income / revenue.
EBITDA margin	13.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-46.5%	Pre-tax income / revenue.
Net margin	-48.0%	Net income / revenue.
FCF margin	2.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.8%	Cash from operations / revenue.
Return on equity (ROE)	-74.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-29.3%	Net income / average total assets.
Return on invested capital (ROIC)	-29.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	5.4%	Research and development expense / revenue.
SG&A / revenue	47.1%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	9.0%	Capital expenditures / revenue.
D&A / revenue	58.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	12.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	14.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	13.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	15.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	17.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	44.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	18.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	16.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	91.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-6.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-36.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-41.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-24.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-15.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-18.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-12.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	3.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	4.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.98x	Current assets / current liabilities.
Quick ratio	0.74x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.02x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.87x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	34.1%	Total debt / total assets.
Liabilities / assets	60.7%	Total liabilities / total assets.
Net debt	$1.27B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.12x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-30.9x	Operating income / interest expense.
Working capital	$602.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	49.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$383.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.61x	Revenue / average total assets.
Fixed asset turnover	4.35x	Revenue / average property, plant and equipment.
Inventory turnover	1.49x	Cost of revenue / average inventory.
Days inventory	246 days	365 x average inventory / cost of revenue.
Receivables turnover	5.20x	Revenue / average receivables.
Days sales outstanding	70 days	365 x average receivables / revenue.
Days payables	79 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	237 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	76.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$19.13	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$39.87	Revenue / diluted weighted shares.
FCF per share	$1.11	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.69	Cash from operations / diluted weighted shares.
Book value per share	$25.61	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$6.64	Tangible book value / shares outstanding.
Cash per share	$0.22	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.06B	Share price x shares outstanding.
Enterprise value	$2.34B	Market cap + total debt - cash - short-term investments.
P/S	0.46x	Market cap / revenue.
P/B	0.72x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	16.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.94x	Market cap / cash from operations, when positive.
EV/Sales	1.02x	Enterprise value / revenue.
EV/EBITDA	7.57x	Enterprise value / EBITDA, when both are positive.
EV/FCF	36.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.0%	Free cash flow / market cap.
Earnings yield	-103.5%	Net income / market cap (the inverse of P/E).

What was Enovis CORP's revenue in fiscal 2025?

Enovis CORP reported revenue of $2.25B for fiscal 2025, 6.7% higher than the year before.

Was Enovis CORP profitable in fiscal 2025?

No. It reported a net loss of $1.18B.

How much free cash flow did Enovis CORP generate in fiscal 2025?

Cash from operations of $217.3M minus capital expenditures of $197.4M left free cash flow of $19.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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