ROARABLE // PRO
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NVST // Envista Holdings Corporation

DES <GO> NYSE CIK 0001757073 ↗
Health Care • Medical/Dental Instruments
$24.61 ▲ +0.67 (+2.80%)
MKT CAP: $3.95B • VOL: 2.92M
NVST // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE
▼ DOWNGRADE // C- (RQD 59) -> D+ (RQD 58)
ROARABLE D+
RQD CONFIDENCE
58 / 100 -1D
5 X 20-PT QUANT PILLARS
E 0 D 35 C 59 B 70 A 86+
Roarable Sell — Weak Fundamentals / Trim
01 MASSIVE / SEC XBRL
Forensic Fundamentals
[LOCKED] FLAGGED
UNLOCK BELOW TO REVEAL
02 OPRA GEX + SEC 13F
Whale & Options Flow
10 / 20
NEUTRAL
NET GEX +0% • CALL SWEEP 52% • P/C 0.65
03 SEC FORM 4 (90D)
Insider Conviction
[LOCKED] FLAGGED
UNLOCK BELOW TO REVEAL
04 FRED 90D r-MATRIX
Macro Regime Fit
13 / 20
SOLID
TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00
05 10-K REDLINE AUDIT
Forensic 10-K Risk
16 / 20
STRONG
20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE
ALERT

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SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON NVST)
ALL MARKET ANOMALIES <SIG>
▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS
SEVERITY: 79/100 Z-SCORE: +2.05σ

NVST Accounting Gap: Net Income (+104.2%) Outpaced OCF (-18.1%) With +5% Working-Capital Build

CASH CONVERSION GAP
+122.3% (NI vs OCF)
RECEIVABLES / WC BLOAT
+5.0% VS REV
60D C-SUITE FORM 4 SALES
0 OPEN-MKT DUMPS
[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]
SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on Envista Holdings Corporation (NVST) exposes a +122.3% Cash Conversion Gap as YoY Net Income growth (+104.2%) diverged from Operating Cash Flow growth (-18.1%). Non-cash current assets and receivables expanded +5.0% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

NVST // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -9.37%📐 HORIZONTAL RANGE
2026-10-30O $24.72H $24.90L $23.40C $23.51VOL 3.73M
RES: $28.57SUP: $21.61SMA50: $24.60SMA200: $25.74
$30.03$27.91$25.79$23.66$21.54RES $28.57SUP $21.61$23.512026-04-302026-06-152026-07-312026-09-162026-10-30
NVST // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE
UNDERWEIGHT CONVICTION: 29/100
BEAR 0
100 BULL

Envista Holdings Corporation (NVST) exhibits 54.7% gross margins and 5.1% return on invested capital within Health Care (Medical/Dental Instruments), balanced against a 16.5x enterprise multiple and 6.7% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)
01. Operating Leverage & Capital Efficiency Moat

Sustained 54.7% gross profitability converts into 7.9% operating margin and 5.1% ROIC, outpacing sector cost of capital.

ROIC: 5.1% // GM: 54.7%
02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +8.3% paired with 5.83% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +8.3% // FCF YLD: 5.83%
03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 1.61 and Piotroski F-Score of 9/9 indicate low near-term refinancing stress.

ALTMAN Z: 1.61 // F-SCORE: 9/9
▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)
01. Multiple Compression & Duration Sensitivity

Trading at 84.1x trailing P/E (78.2x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 84.1x // EV/EBITDA: 16.5x
02. Options Skew & Event Volatility Risk

Options market prices a ±6.7% implied move with a 0.65 put/call ratio around $24.00 max pain.

IMPL MOVE: ±6.7% // P/C: 0.65
03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Medical/Dental Instruments require continuous execution to defend 1.7% net margins.

NET MARGIN: 1.7% // D/E: 0.47x
KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 78.2x forward consensus, and institutional 13F positioning.
MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 0.93).
FORM 4 & 13F FLOW OPEN OWN <GO>
FILER SIDE $ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>
UNUSUAL OPTIONS TAPE OPEN OPT <GO>
STRIKE / EXP TYPE PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>
KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>
TRAILING P/E 84.1x
FORWARD P/E 78.2x
EV / EBITDA 16.5x
FCF YIELD 5.83%
GROSS MARGIN 54.7%
OPERATING MARGIN 7.9%
NET MARGIN 1.7%
ROIC % 5.1%
REV GROWTH YOY +8.3%
DILUTED EPS TTM $0.29
DEBT / EQUITY 0.47x
DIVIDEND YIELD 0.00%
RSI-14 MOMENTUM 47.7
5Y EQUITY BETA 0.93
FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>
MACRO CORRELATION CALIBRATION ACTIVE BELOW.
FRED MACRO REGIME STRESS-TEST SIMULATOR // NVSTPEARSON R VARIANCE ENGINE
01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO
02 // POSITION NOTIONAL EXPOSURE
HEADLINE STRESS SCORE
75/100SEVERE DRAWDOWN PRESSURE
PRIMARY FACTOR EXPOSURE
DFII10 // -0.61 r
Latest: 2.08%
EST. DIRECTIONAL MOVE
-8.50%
Implied Px: $22.52
EST. DOLLAR VARIANCE
-$4,248
On $50,000 Notional
[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for NVST & activate live FRED threshold breach alerts.
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