XRAYDENTSPLY SIRONA Inc.
Is the business good?
The checks split: nothing decisive, though margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is XRAY?
DENTSPLY SIRONA Inc. earns −7.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 16 points below what the capital costs: growth destroys value
- Operating margin
- −8.5%
Operating margin · Medical Instruments & Supplies median 6.6% · 12 months to Q2 2026
- Share count, year on year
- +0.60%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 4.6%
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 Q2 2026
- 50%
- Operating margin12 months to Q2 2026
- −8.5%
- Net margin12 months to Q2 2026
- −15%
- Free cash flow margin
- 3.9%
- R&D as % of revenue
- 4.6%
- Revenue, trailing twelve months
- $3.64B
- Free cash flow, trailing twelve months
- $143M
- Net income, trailing twelve months
- −$546M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −7.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Medical Instruments & Supplies
Ranks #16 of 21 by RyuScore