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Maker of Motiva breast implants using proprietary silicone technology, sold internationally outside the US mostly.
Maker of Motiva breast implants using proprietary silicone technology, sold internationally outside the US mostly.
Manufactures in Costa Rica and sells implants to surgeons, directly in some countries and through distributors elsewhere, mostly as cosmetic procedures patients pay for themselves rather than insurers. Sales have been largely outside the US, so the US launch after FDA approval in 2024 is the biggest change.
Moat: narrow (IP / patents, brand, regulatory licence). Proprietary implant technology and design differentiate from legacy Allergan/Mentor implants amid industry safety concerns.
Headquarters: Alajuela, Costa Rica · Founded: 2004 · Employees: 1,004
Size Establishment Labs (ESTA) is a United States Health Care company (Medical Specialties) with a market value of $2.00B, the 1791st largest of 3,117 United States companies the cockpit tracks. Shares closed at $67.02 on 6 Nov 2026.
Performance Over six months the shares fell 6.6%, against -4.2% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 38.2% over the last twelve months (peer median +9.6%); the operating margin is -6.6% (peer median 12.7%).
Valuation It trades at 8.3× enterprise value to sales against a peer median of 5.0× (4th most expensive of 21).
Capital Return on invested capital runs 16.0 points below its cost of capital (9.5% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $264M | $211M | $166M | $165M | $162M |
| Revenue growth | — | +27% | +1% | +2% | — |
| Gross profit | $185M | $146M | $110M | $107M | $107M |
| EBITDA | -$6.36M | -$28.5M | -$42.4M | -$60.1M | -$35.5M |
| Net income | -$38.5M | -$51.1M | -$84.6M | -$78.5M | -$75.2M |
| Free cash flow | -$22.6M | -$56.9M | -$67.0M | -$112M | -$84.9M |
| Capital expenditure | $10.2M | $6.72M | $15.6M | $24.5M | $34.8M |
| Total debt | $270M | $264M | $225M | $192M | $179M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Establishment Labs ESTA | $2.00B | -7% | +38% | -7% | 8.3× | n/a |
| AbbVie ABBV | $515B | +45% | +11% | 36% | 8.9× | -0.1% |
| Johnson & Johnson JNJ | $665B | +26% | +8% | 26% | 7.0× | 3.5% |
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 | ESTA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.6% | -0.5% | 5th highest of 21 |
| 6-month return | -6.6% | -4.2% | 8th lowest of 21 |
| Distance from 52-week high | -31.3% | -28.9% | 11th highest of 21 |
| Revenue growth (TTM) | +38.2% | +9.6% | 4th highest of 21 |
| Operating margin | -6.6% | 12.7% | 3rd lowest of 21 |
| EV / Sales | 8.3× | 5.0× | 4th most expensive of 21 |
| ROIC minus cost of capital | -16.0 pp | +1.1 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Establishment Labs ESTA | United States | $2.00B | -7% | +38% | -7% | 8.3× | n/a | n/a |
| JEOL 6951.T | Japan | $1.98B | -3% | -18% | 11% | 1.8× | 21.3% | +10.2% |
| Shandong Weigao Group Medical Polymer 1066.HK | Hong Kong | $1.96B | -4% | +7% | 14% | 0.8× | -11.8% | +2.1% |
| Mehow Innovative 301363.SZ | China | $1.95B | -14% | +10% | 21% | 6.4× | 18.9% | +12.9% |
| Veracyte VCYT | United States | $1.94B | -40% | +17% | 17% | 2.9× | 15.1% | +34.5% |
| SKAN SKAN.SW | Switzerland | $1.92B | +49% | +9% | 11% | 4.5× | 13.8% | +11.7% |
| Draegerwerk AG & Co. KGaA DRW8.DE | Germany | $1.89B | +17% | +5% | 7% | 0.5× | -12.6% | +0.4% |
| DENTSPLY SIRONA XRAY | United States | $1.89B | -14% | -1% | 5% | 1.1× | 10.2% | +1.9% |
| Inspire Medical Systems INSP | United States | $1.85B | +45% | 0% | 2% | 1.8× | 30.9% | +51.2% |
| Bonesupport BONEX.ST | Sweden | $2.16B | +34% | +25% | 25% | 14.7× | 13.3% | +45.4% |
| LeMaitre Vascular LMAT | United States | $1.85B | -25% | +12% | 29% | 6.3× | 2.9% | +14.0% |
| Inner Mongolia Furui Medical Science 300049.SZ | China | $1.85B | -5% | +11% | 25% | 7.6× | 6.6% | +14.6% |
| Medartis MED.SW | Switzerland | $1.83B | +47% | +30% | 2% | 5.5× | n/a | n/a |
| Wuxi Unicomp Technology 688531.SS | China | $1.80B | -36% | +53% | 12% | 7.9× | n/a | n/a |
| Metall Zug METN.SW | Switzerland | $2.25B | +19% | 0% | -10% | 10.5× | n/a | n/a |
| Shanghai Conant Optical 2276.HK | Hong Kong | $2.27B | -27% | +8% | 29% | 6.3× | -1.6% | +14.1% |
| Fukuda Denshi 6960.T | Japan | $1.75B | -5% | 0% | 19% | 1.5× | -3.2% | -1.0% |
| Embla Medical hf EMBLA.CO | Denmark | $1.75B | +3% | +6% | 14% | 2.2× | -1.8% | +8.3% |
| Angelalign Technology 6699.HK | Hong Kong | $1.74B | -7% | +84% | 9% | 3.2× | 18.1% | +25.8% |
| Poly Medicure POLYMED.NS | India | $1.73B | -4% | +18% | 17% | 8.2× | n/a | n/a |
| Kestra Medical Technologies KMTS | United States | $1.72B | +37% | +61% | -134% | 14.9× | n/a | n/a |