Is the business good?
How good a business is XRAY?
DENTSPLY SIRONA Inc. earns −12% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−12%
Return on invested capital · cost of capital 9.0% · 21 points below what the capital costs: growth destroys value
- Operating margin
- −14%
Operating margin · Medical Instruments & Supplies median 5.8% · 12 months to Q1 2026
- Share count, year on year
- +0.05%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 4.3%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −0.09% |
| FY2021 | 14% |
| FY2022 | −24% |
| FY2023 | −2.1% |
| FY2024 | −23% |
| FY2025 | −11% |
Details›
- Gross margin12 months to Q1 2026
- 49%
- Operating margin12 months to Q1 2026
- −14%
- Net margin12 months to Q1 2026
- −17%
- Free cash flow margin
- 2.8%
- R&D as % of revenue
- 4.3%
- Revenue, trailing twelve months
- $3.68B
- Free cash flow, trailing twelve months
- $104M
- Net income, trailing twelve months
- −$628M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −12%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Medical Instruments & Supplies
Ranks #27 of 27 by Smart Score