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DCF valuation

What is Envista Holdings Corp worth?

With the base-case assumptions below, a discounted cash flow model on Envista Holdings Corp's reported free cash flow gives $26.40 per share. The share price was $23.95 on September 25, 2026, 9% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$230.4M
Average free cash flow, last 5 years
$232.9M
Cash
$1.13B
balance sheet of July 3, 2026
Debt
$1.44B
balance sheet of July 3, 2026
Diluted shares, fiscal 2025
169,200,000
Revenue growth per year, last 5 years
7.1%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear2.0%2.0%2.0%10.0%$15.53-35%
Base7.0%5.0%2.5%9.0%$26.40+10%
Bull12.0%7.5%3.0%8.0%$46.69+95%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$34.28$36.69$39.63$43.32$48.05
8.0%$28.39$29.96$31.80$34.02$36.73
9.0%$24.10$25.17$26.40$27.84$29.54
10.0%$20.83$21.59$22.45$23.43$24.57
11.0%$18.25$18.81$19.43$20.13$20.93

Where the presets come from

Base: years 1 to 5 grow at Envista Holdings Corp's revenue growth rate over the last 5 fiscal years (7.1% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Envista Holdings Corp company page