Is the business good?
How good a business is ENOV?
Enovis Corporation earns −31% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−31%
Return on invested capital · cost of capital 9.0% · 40 points below what the capital costs: growth destroys value
- Operating margin
- −47%
Operating margin · Medical Devices median 11% · 12 months to Q1 2026
- Share count, year on year
- +0.92%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 5.4%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −5.9% |
| FY2021 | −4.4% |
| FY2022 | −4.5% |
| FY2023 | −3.9% |
| FY2024 | −37% |
| FY2025 | −50% |
Details›
- Gross margin12 months to Q1 2026
- 61%
- Operating margin12 months to Q1 2026
- −47%
- Net margin12 months to Q1 2026
- −50%
- Free cash flow margin
- 1.6%
- R&D as % of revenue
- 5.4%
- Revenue, trailing twelve months
- $2.28B
- Free cash flow, trailing twelve months
- $36M
- Net income, trailing twelve months
- −$1.14B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −31%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.