NVST
Envista Holdings Corp
$26.11
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Overvalued
Trading 18.0% above fair value
You pay
$26.11
Bear
$17.70
Fair
$22.12
Bull
$26.55
Bear
$17.70
-32.2%
$1.34 × 12x P/E
Fair
$22.12
-15.3%
$1.34 × 15x P/E
Bull
$26.55
+1.7%
$1.34 × 18x P/E
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
19.5x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $28.20 from 19 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $22.12 per share.
Warnings
The company's reported profits differ from official accounting profits by 379%. Check what costs are being left out of the adjusted number.
Wall Street's average price target is $28.20 (from 19 analysts). Our estimate is 29% below the consensus -- consider that gap carefully.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples