Financial Data and Key Metrics Changes - In Q4 2025, the company reported sales of $751 million, with core sales increasing by 10.8% year-over-year, benefiting from foreign exchange (FX) which added nearly 400 basis points [15][19] - Adjusted EBITDA margin for Q4 was 14.8%, a 90 basis point improvement from the previous year, driven by volume, price, and productivity [16][21] - Adjusted EPS for Q4 was $0.38, up more than 50% from Q4 2024, supported by strong operating profits and share repurchases [13][16] - For the full year 2025, sales reached $2.7 billion, with core sales increasing by 6.5% [17][18] - Adjusted EBITDA for 2025 was up 26%, resulting in a margin of around 14%, a 2-point improvement over 2024 [13][18] Business Line Data and Key Metrics Changes - Specialty products and technologies revenue grew nearly 16% year-over-year, with core sales up 10.9% [22] - The orthodontics business, including Spark, saw high single-digit growth, with brackets and wires up double digits year-over-year [22][24] - The implants segment grew mid-single digits globally, with strong performance in digital and regenerative segments [22] - Equipment and consumables segment core sales increased by 10.7%, with diagnostics core sales up double digits globally [24] Market Data and Key Metrics Changes - The North American diagnostic market returned to growth in the second half of 2025, marking the third consecutive quarter of positive growth across all business lines [31][32] - The overall implant market is estimated to be growing mid-single digits, with the company slightly outperforming this in Q4 [70] Company Strategy and Development Direction - The company is focused on a value creation plan aimed at achieving 2%-4% core growth, 4%-7% EBITDA growth, and 7%-10% EPS growth, with a free cash flow conversion target of 100% or better [7][14] - Continued investment in R&D and new product launches is a priority, with a strong pipeline for 2026 [12][31] - The company aims to maintain its competitive edge by enhancing customer training and product offerings [71] Management's Comments on Operating Environment and Future Outlook - Management noted that the dental market remains slow but stable, with signs of improvement beginning to emerge [31][32] - The company expects core revenue growth of 2%-4% for 2026, aligning with medium-term financial objectives [14][26] - Risks include macroeconomic volatility and uncertainties in the Chinese market, particularly regarding value-based pricing (VBP) [41][54] Other Important Information - The company implemented a $250 million share repurchase program in early 2025, returning over $160 million to shareholders throughout the year [9][25] - Free cash flow for 2025 was $231 million, with a conversion rate of 114% [25] Q&A Session Summary Question: Guidance and potential upsides/risks - Management discussed the guidance for 2026, highlighting potential upsides from market momentum and pricing, while noting risks from macro volatility and the Chinese market [35][41] Question: Tax rate expectations - The expected non-GAAP tax rate for 2026 is around 28%, with potential for further reductions depending on U.S. profitability and debt management [47][49] Question: VBP assumptions for ortho and implants - Management expects first-round VBP for ortho and second-round for implants in 2026, but specific timing remains uncertain [52][54] Question: Spark growth and profitability - Spark continues to outgrow the market, with profitability consistent with previous quarters, driven by new product introductions and customer training [78]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported sales of $751 million, with core sales increasing by 10.8% year-over-year, benefiting from foreign exchange (FX) which added nearly 400 basis points [15][19] - Adjusted EBITDA margin for Q4 was 14.8%, a 90 basis point improvement from the previous year, driven by volume, price, and productivity [16][21] - Adjusted EPS for Q4 was $0.38, up more than 50% from Q4 2024, supported by strong operating profits and share repurchases [13][16] - For the full year 2025, sales reached $2.7 billion, with core sales increasing by 6.5% [17][18] - Adjusted EBITDA for 2025 was up 26%, resulting in a margin of around 14%, a 2-point improvement over 2024 [13][18] Business Line Data and Key Metrics Changes - Specialty Products & Technologies revenue grew nearly 16% year-on-year, with core sales up 10.9% [22] - The orthodontics business, Spark, experienced high single-digit growth, aided by a deferral change [22] - The Equipment and Consumables segment saw core sales increase by 10.7%, with diagnostic core sales up double digits globally [24] Market Data and Key Metrics Changes - The North American diagnostic market returned to growth in the second half of 2025, marking the third consecutive quarter of positive growth across all business lines [31] - The global implant market is estimated to be growing mid-single digits, with the company slightly outperforming this growth in Q4 [70] Company Strategy and Development Direction - The company is focused on a Value Creation Plan aimed at achieving 2%-4% core growth, 4%-7% EBITDA growth, and 7%-10% EPS growth, with a free cash flow conversion target of 100% or better [7][30] - The company is investing in new product development and customer training, with a significant increase in R&D investment in 2025 [8][10] Management's Comments on Operating Environment and Future Outlook - Management noted that the dental market remains slow but stable, with signs of improvement beginning to emerge [31] - The company expects core revenue growth of 2%-4% for 2026, aligning with medium-term financial objectives [14][26] - Management highlighted potential upsides in diagnostics and consumables, while also acknowledging risks related to macroeconomic volatility and the Chinese market [39][40] Other Important Information - The company implemented a $250 million share repurchase program in early 2025, returning over $160 million to shareholders throughout the year [9][25] - The non-GAAP tax rate for Q4 was 30.3%, with expectations for a reduction to approximately 28% in 2026 due to improved profitability [16][29] Q&A Session Summary Question: Can you discuss guidance and potential upsides and risks? - Management indicated that the core guidance for 2026 is 2%-4%, with upsides including momentum in growth and potential improvements in diagnostics and consumables [34][35] - Risks include macroeconomic volatility and uncertainties in the Chinese market [40][41] Question: What are the expectations for the tax rate? - The expected tax rate for 2026 is around 28%, with potential for further reductions depending on U.S. profit improvements and debt management [46][48] Question: What is the status of VBP for ortho and implants? - Management expects a first-round VBP for ortho and a second-round VBP for implants in 2026, but specific timing remains uncertain [51][53] Question: How did the company achieve higher growth in Q4 compared to previous guidance? - Management attributed the growth to a strong performance in the China ortho market and better-than-expected results in implants [59][64] Question: How do new products contribute to growth? - Management noted that while new products are expected to launch in 2026, their impact was not significant in 2025, with growth driven by pricing and market conditions [70][72]

Financial Data and Key Metrics Changes - In Q4 2025, Envista reported sales of $751 million, with core sales increasing by 10.8% year-over-year, benefiting from foreign exchange (FX) which added nearly 400 basis points [16][20] - Adjusted EBITDA margin for Q4 was 14.8%, a 90 basis point improvement from the previous year, driven by volume, price, and productivity [17][19] - Adjusted EPS for Q4 was $0.38, up more than 50% from Q4 2024, supported by strong operating profits and share repurchases [13][17] - For the full year 2025, sales reached $2.7 billion, with core sales increasing by 6.5% [19] Business Line Data and Key Metrics Changes - Specialty products and technologies revenue grew nearly 16% year-over-year, with core sales up 10.9% [22] - The orthodontics business, including Spark, saw high single-digit growth, with brackets and wires up double digits year-over-year [22][25] - The implants segment grew mid-single digits globally, with strong performance in digital and regenerative segments [23] Market Data and Key Metrics Changes - The North American diagnostic market returned to growth in the second half of 2025, marking the third consecutive quarter of positive growth across all business lines [32] - The overall global implant market is estimated to be growing mid-single digits, with Envista slightly outperforming this growth [70] Company Strategy and Development Direction - Envista's value creation plan focuses on growth, operations, and people, aiming for 2%-4% core growth, 4%-7% EBITDA growth, and 7%-10% EPS growth [6][31] - The company is committed to continuous improvement and innovation, with significant investments in R&D and new product launches planned for 2026 [8][12] Management's Comments on Operating Environment and Future Outlook - Management noted that the dental market remains slow but stable, with signs of improvement beginning to emerge [32] - The guidance for 2026 includes core revenue growth of 2%-4%, adjusted EBITDA growth of 7%-13%, and adjusted EPS growth of 13%-22% [14][27] Other Important Information - Envista implemented a $250 million share repurchase program in early 2025, returning over $160 million to shareholders throughout the year [9][27] - The company achieved a free cash flow conversion of 114% for 2025, with $231 million in free cash flow generated [26][19] Q&A Session Summary Question: Can you discuss guidance and potential upsides and risks? - Management highlighted that the core guidance for 2026 is 2%-4%, with upsides including market momentum and potential improvements in diagnostics and consumables [37][39] - Risks include macroeconomic volatility and uncertainties in the Chinese market [41][42] Question: What are the assumptions regarding VBP for ortho and implants? - Management expects first-round VBP for ortho and second-round VBP for implants in 2026, but specific timing remains uncertain [54][55] Question: How did Envista achieve higher growth in Q4 compared to previous guidance? - Management attributed the growth to a stronger than expected performance in the China ortho market and improved results in implants [64][66] Question: How does Envista's growth in implants compare to the market? - Envista outgrew the global implant market, which is growing mid-single digits, due to significant investments in the commercial front end and customer training [70]

Q4 2025 Results Paul Keel, CEO February 5, 2026 Forward looking statements/Non-GAAP financial measures FORWARD-LOOKING STATEMENTS Certain statements in this presentation are "forward-looking statements" within the meaning of the U.S. federal securities laws, including statements regarding future financial performance, and the objectives and expectations of management. Terminology such as "believe," "anticipate," "should," "could," "intend," "will," "plan," "expect," "estimate," "project," "target," "may," " ...

Exhibit 99.1 Envista Reports Fourth Quarter 2025 Results BREA, Calif., February 5, 2026 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) today announced results for the quarter ended December 31, 2025. "With our disciplined focus on Growth, Operations, and People, Q4 2025 marked another quarter of continued progress for Envista," said Paul Keel, CEO. "We delivered 10.8% core revenue growth and 22% adjusted EBITDA growth in Q425, and 6.5% core revenue growth and 26% EBITDA growth for the full-year 2 ...

Core Insights - Envista Holdings Corporation reported a strong performance in Q4 2025, achieving 10.8% core revenue growth and 22% adjusted EBITDA growth, with positive growth across all major businesses and geographies [2][6] - For the full year 2025, the company recorded a 6.5% core revenue growth and a 26% EBITDA growth, alongside a significant return of $166 million to shareholders through share repurchases [2][6] Financial Highlights - Q4 2025 financials included sales of $751 million, GAAP net income of $33 million, and adjusted EBITDA of $111 million, reflecting a 22% year-on-year increase [4][6] - For FY 2025, total sales reached $2,719 million, with GAAP net income of $47 million and adjusted EBITDA of $372 million, marking a 26% increase year-on-year [4][6] Cash Flow - Operating cash flow for Q4 2025 was $108 million, while free cash flow was $92 million, down from $132 million and $124 million in Q4 2024 respectively [5][7] - For the full year 2025, operating cash flow totaled $276 million and free cash flow was $231 million, compared to $337 million and $303 million in 2024 [7] Share Repurchases - In Q4 2025, the company repurchased 1.2 million shares for approximately $24 million, and for the full year, 9.2 million shares were repurchased for about $166 million [8] Outlook - The company provided guidance for 2026, projecting core sales growth of 2% to 4%, adjusted EBITDA growth of 7% to 13%, and adjusted diluted earnings per share between $1.35 and $1.45 [9]

Core Viewpoint - The upcoming 4Q/FY25 results for NVST are anticipated to exceed analysts' conservative forecasts, potentially leading to a re-rating of its shares [1]. Group 1: Company Overview - NVST is set to release its financial results next week, which is a significant event for investors [1]. - The analysis suggests that the current market expectations for NVST's earnings are overly cautious [1]. Group 2: Investment Strategy - The focus is on identifying Asia-listed stocks that exhibit a substantial gap between their market price and intrinsic value, particularly in the context of deep value balance sheet bargains and wide moat stocks [1][2]. - The investment strategy includes targeting stocks that are undervalued based on metrics such as net cash, low price-to-book ratios, and sum-of-the-parts discounts [1].

Core Viewpoint - The comparison between Envista (NVST) and Stryker (SYK) indicates that NVST is currently a more attractive option for value investors due to its stronger earnings outlook and favorable valuation metrics [1][2]. Valuation Metrics - Envista has a forward P/E ratio of 19.27, while Stryker's forward P/E is 23.99, suggesting that NVST is more reasonably priced relative to its earnings [4]. - The PEG ratio for NVST is 1.08, indicating a better valuation when considering expected earnings growth, compared to SYK's PEG ratio of 2.30 [4]. - Envista's P/B ratio stands at 1.29, significantly lower than Stryker's P/B ratio of 6.31, further supporting NVST's position as a better value option [5]. Investment Grades - Envista holds a Zacks Rank of 2 (Buy), while Stryker has a Zacks Rank of 3 (Hold), reflecting a more favorable earnings outlook for NVST [2]. - Based on valuation figures, Envista has a Value grade of B, whereas Stryker has a Value grade of C, indicating that NVST is the superior value option at this time [5].

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Core Viewpoint - Envista is positioned as a leader in the dental industry with a focus on growth, operations, and people as part of its new value creation plan [4]. Group 1: Company Overview - Envista has been a leader in the dental industry for over 100 years, indicating its long-standing presence and expertise [3]. - The company is part of the med tech sector, which is characterized by several structurally attractive growth drivers [3]. Group 2: Value Creation Plan - In Q1 of the previous year, Envista introduced a new value creation plan that emphasizes three priority areas: growth, operations, and people [4]. - The presentation will provide an update on the progress of this value creation plan [4].