NVST
Envista Holdings Corp
$23.43
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Mild
·
Conviction
Overvalued
Trading 6.8% above fair value
You pay
$23.43
Bear
$17.55
Fair
$21.94
Bull
$26.32
Bear
$17.55
-25.1%
$1.34 × 12x P/E
Fair
$21.94
-6.4%
$1.34 × 15x P/E
Bull
$26.32
+12.3%
$1.34 × 18x P/E
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
17.5x
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 $27.44 from 19 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $21.94 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 $27.44 (from 19 analysts). Our estimate is 27% 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