Forensic Analysis · Industrial & Scientific Instruments · as of Nov 7, 2026
Envista Holdings Corp (NVST)
A forensic read on Envista Holdings Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
2.6
Distress distance
Clean
Earnings quality
2
Forensic signals
1.6%
ROE
8.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Envista Holdings Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 2.6, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
3.9%
FY2025
Return on invested capital.Return on invested capital is 3.9% in the latest fiscal year, against 0.5% in FY2023, having run between -19.3% and 3.9% across FY2023–FY2025 with no direction held. After-tax operating profit was $25M in FY2023 and $140M in FY2025, with operating income at 1.2% of revenue in FY2023, -41.4% in FY2024 and 7.9% in FY2025. The capital base behind it came down -29% across FY2023–FY2025, from $5.0B to $3.6B, so this return is struck on a smaller base than it started on. FY2023's operating profit carried a $212M goodwill write-off, a $1M restructuring charge and a $200,000 asset write-down that alone took about 3.4 points off that year's return, so about all of the 3.4-point rise across FY2023–FY2025 is that charge leaving the base year rather than the capital earning more. FY2024's operating profit carried a $960M goodwill write-off and a $17M asset write-down that alone took about 18.1 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
$1.2B
FY2023–FY2024
Goodwill impairments.Took $1.2B of goodwill writedowns across 2 years (FY2023 ($212M), FY2024 ($960M)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$2.72B
Revenue Growth YoY+8.3%
Revenue CAGR (2yr)+2.9%
Net Margin1.7%
Free Cash Flow$230.4M
Return on Equity1.6%
Debt / Equity0.47x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Envista Holdings Corp's actual 10-K/10-Q/8-K filings?