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Enovis Corporation (the Company , Enovis , we or us ) is a medical technology company focused on developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows by manufacturing, and distributing high-quality medical devices with a broad range of products used for reconstructive surgery, rehabilitation, pain management and physical therapy…
The business is unprofitable at the operating level (-50.08% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 7.1%, steady but not accelerating. Margins contracted 13.1pp, which offsets some of the top-line progress.
ROIC dropped from -15.48% to -25.99%, capital efficiency is deteriorating. Net debt of $1.34B represents 67.4x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$2.27B
▲ +7.1% YoY
Net Income (TTM)
-$1.14B
▼ -43.5% YoY
Op. Margin
-45.16%
▼ -13.1pp YoY
ROIC
-24.83%
▼ -10.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$36M
▲ +129.6% YoY
Op. Cash Flow (TTM)
$243M
▲ +91.4% YoY
Net Debt
$1.32B
Cash & Equiv.
$33M
5Y CAGR: +15.1%
5Y CAGR: -36.1%
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