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Maker of orthopedic devices and surgical/recovery solutions, including joint implants, braces and prevention/recovery products.
Maker of orthopedic devices and surgical/recovery solutions, including joint implants, braces and prevention/recovery products.
Was the industrial company Colfax until it spun off its welding business, ESAB, in 2022, and renamed itself Enovis around the medical devices it had built up, including the DJO bracing business and, from 2024, the Italian implant maker Lima. Implants are bought by hospitals on surgeon preference.
Moat: narrow (brand, installed base). Established orthopedic recovery/bracing brand plus a smaller joint-implant business competing against larger majors.
Headquarters: Wilmington, Delaware · Founded: 2022 · Employees: 7,802
Size Enovis (ENOV) is a United States Health Care company (Medical Specialties) with a market value of $1.57B, the 1960th largest of 3,117 United States companies the cockpit tracks. Shares closed at $27.16 on 6 Nov 2026.
Performance Over six months the shares gained 2.4%, against +8.0% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue grew 4.9% over the last twelve months (peer median +11.7%); the operating margin is 3.4% (peer median 15.3%).
Valuation It trades at 7.7× forward earnings against a peer median of 22.7× (cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is -6%, so the hurdle is +28 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.9 points below its cost of capital (8.0% WACC).
Credit Enovis has 1 bond outstanding ($460M).
Short interest Short interest is 20.3% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.30B | $2.25B | $2.11B | $1.71B | $1.56B |
| Revenue growth | — | +7% | +23% | +9% | — |
| Gross profit | $1.22B | $1.17B | $1.03B | $853M | $737M |
| EBITDA | $374M | $297M | $281M | $212M | $176M |
| Net income | -$1.10B | -$1.18B | -$825M | -$48.8M | -$15.0M |
| Free cash flow | $63.7M | $19.9M | -$67.2M | $12.8M | -$161M |
| Capital expenditure | $206M | $197M | $181M | $122M | $105M |
| Total debt | $1.37B | $1.38B | $1.40B | $536M | $335M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Enovis ENOV | $1.57B | +2% | +5% | 3% | 7.7× | 22.3% |
| Stryker SYK | $124B | +14% | +8% | 25% | 20.4× | 10.6% |
| Zimmer Biomet ZBH | $20.1B | +29% | +7% | 16% | 12.0× | -1.4% |
| Smith & Nephew SN..L | $13.1B | +5% | +2% | 17% | 14.4× | 11.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ENOV | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +55.8% | +2.8% | highest of 21 |
| 6-month return | +2.4% | +8.0% | 10th lowest of 20 |
| Distance from 52-week high | -16.2% | -21.2% | 7th highest of 21 |
| Revenue growth (TTM) | +4.9% | +11.7% | 8th lowest of 21 |
| Operating margin | 3.4% | 15.3% | 5th lowest of 21 |
| Forward P/E | 7.7× | 22.7× | cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 22.3% | 12.5% | 4th most demanding of 14 |
| Growth delivered (Del g) | -6.0% | +16.5% | lowest of 14 |
| Hurdle (Req g minus delivered) | +28.4 pp | -0.5 pp | most demanding of 14 |
| ROIC minus cost of capital | -5.9 pp | +1.5 pp | 5th lowest of 21 |
| EV / EBITDA | 7.8× | 15.5× | cheapest of 11 |
| Net debt / EBITDA | 3.6× | -0.1× | 3rd most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Enovis ENOV | United States | $1.57B | +2% | +5% | 3% | 7.7× | 22.3% | -6.0% |
| NIPRO 8086.T | Japan | $1.55B | -9% | +3% | 6% | 14.9× | n/a | n/a |
| NovoCure NVCR | United States | $1.55B | -26% | +13% | -17% | n/a | n/a | n/a |
| Sinocare 300298.SZ | China | $1.58B | +15% | +7% | 6% | 23.6× | 10.8% | +18.3% |
| Shanghai MicroPort Endovascular MedTech 688016.SS | China | $1.59B | -14% | +16% | 44% | 17.2× | 3.1% | +23.4% |
| CONMED CNMD | United States | $1.53B | +40% | +2% | 2% | 11.1× | 32.4% | +9.8% |
| Nihon Kohden 6849.T | Japan | $1.63B | +8% | +1% | 7% | 17.6× | -2.1% | +3.3% |
| Vitrolife VITR.ST | Sweden | $1.63B | +14% | -2% | 19% | 27.6× | 22.0% | +22.5% |
| Molbio Diagnostics MOLBIO.NS | India | $1.63B | n/a | +35% | 17% | n/a | n/a | n/a |
| Rigaku 268A.T | Japan | $1.66B | -57% | +5% | 15% | 20.4× | 18.8% | +14.5% |
| Beijing Balance Medical Technology 688198.SS | China | $1.47B | -26% | +10% | 28% | 46.6× | 22.6% | +27.6% |
| ChemoMetec A/S CHEMM.CO | Denmark | $1.69B | +124% | +3% | 49% | 52.0× | 17.9% | +12.7% |
| Suzhou Sepax Technologies 688758.SS | China | $1.45B | +19% | +28% | 40% | 50.8× | 24.7% | +23.6% |
| El.En ELN.MI | Italy | $1.44B | +11% | +3% | 15% | 21.8× | 9.8% | +7.7% |
| Butterfly Network BFLY | United States | $1.70B | +53% | +39% | -36% | n/a | n/a | n/a |
| Cofoe Medical Technology 301087.SZ | China | $1.71B | -5% | +33% | 10% | 26.9× | 12.5% | +7.4% |
| Kestra Medical Technologies KMTS | United States | $1.72B | +37% | +61% | -134% | n/a | n/a | n/a |
| Ovctek China 300595.SZ | China | $1.42B | -26% | 0% | 28% | 20.8× | 9.9% | +16.5% |
| Nakanishi 7716.T | Japan | $1.42B | +8% | +15% | 19% | 16.3× | 2.2% | +19.7% |
| Poly Medicure POLYMED.NS | India | $1.73B | -4% | +18% | 17% | 40.6× | n/a | n/a |
| Sonoscape Medical 300633.SZ | China | $1.42B | -8% | +18% | 4% | 36.8× | n/a | n/a |
Enovis has 1 bond outstanding with $460M face value.