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Dentsply Sirona

XRAY Nasdaq Health Care Supplies Financials FY2016–FY2025

Dentsply Sirona's revenue fell 3.0% to $3.7 billion in fiscal 2025. Its operating margin was −11.5%, up from −23.2% a year earlier. Free cash flow was $104 million, down 63.0%. It paid out $128 million in dividends and buybacks, 123% of free cash flow. The diluted share count fell 1.9%.

Last close · Oct 23, 2026

$9.43

0.7%
Value it Compare
Revenue Total sales reported in the income statement.
$3.7B
3.0% vs prior year
Operating margin Operating income as a share of revenue.
−11.5%
11.7 pts
Net income Profit after all expenses, interest and tax.
−$598M
Free cash flow Cash from operations minus capital spending.
$104M
63.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−9.9%
6.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Dentsply Sirona does

No business description yet.

Legal name
DENTSPLY SIRONA Inc.
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0000818479-26-000075
0000818479

Revenue and margins

Dentsply Sirona had $3.7B of revenue in fiscal 2025, down 3.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $104M in fiscal 2025, 2.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Dentsply Sirona returned $128M to shareholders in fiscal 2025, 123% of free cash flow. The diluted share count fell 1.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Dentsply Sirona yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$2.0B and divides by 199.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Dentsply Sirona can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $339M$365M$334M$272M$326M
Debt incl. finance leases $1.9B$1.9B$1.9B$1.7B$2.3B
Net debt / EBITDA 1.7x—6.1x——
Debt / equity 0.4x0.5x0.6x0.9x1.7x
Interest coverage 10.0x−14.4x−1.1x−12.7x−4.8x
Current ratio 1.5x1.6x1.4x1.1x1.5x
Quick ratio 1.1x1.1x1.0x0.7x1.0x
Total assets $9.2B$7.6B$7.4B$5.8B$5.4B
Total liabilities $4.2B$3.8B$4.1B$3.8B$4.1B
Shareholders' equity $5.0B$3.8B$3.3B$1.9B$1.3B
Net debt (− = net cash) $1.6B$1.5B$1.6B$1.5B$2.0B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$1.6M

8 insiders

Sold, 12 months

$0.9M

1 insider

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 15, 2026 Brian T GladdenDirector Bought 9,985 $10.02 $0.1M Form 4
Jun 15, 2026 Clyde HoseinDirector Bought 6,500 $9.99 $0.1M Form 4
Jun 12, 2026 Brian P McKeonDirector Bought 10,000 $10.12 $0.1M Form 4
Jun 11, 2026 Betsy D HoldenDirector Bought 10,086 $9.88 $0.1M Form 4
Jun 11, 2026 Michael J BarberDirector Bought 15,175 $9.89 $0.2M Form 4
Mar 9, 2026 Gregory T LucierDirector Bought 15,000 $12.45 $0.2M Form 4
Mar 9, 2026 James D ForbesDirector Bought 5,000 $12.48 $0.1M Form 4
Mar 3, 2026 Gregory T LucierDirector Bought 22,445 $14.03 $0.3M Form 4
Mar 3, 2026 James D ForbesDirector Bought 5,000 $13.47 $0.1M Form 4
Mar 2, 2026 Gregory T LucierDirector Bought 27,555 $14.25 $0.4M Form 4
Dec 8, 2025 Gregory T LucierDirector Sold 82,200 $11.14 $0.9M Form 4
Nov 24, 2025 Leslie F VaronDirector Bought 9,337 $10.71 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✕ ✕ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✕ ✕ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✕ ✕
Revenue rose relative to assets ✓ ✕ ✓
F-score 5 / 93 / 96 / 9
Accruals ratio −6.8%−20.9%−14.9%
Altman Z'' 1.35−0.79−0.30

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Dentsply Sirona XRAY $1.9B −3.0% −11.5% 2.8% −9.9% — 6
Align Technology ALGN $11.0B 0.9% 13.5% 12.2% 13.3% 26.9x 5 Compare →
Cooper Companies COO $11.8B 5.1% 16.7% 10.6% 4.3% 21.0x 5 Compare →
West Pharmaceutical Services WST $28.0B 6.3% 19.0% 15.3% 18.7% 50.2x 9 Compare →
Envista NVST $3.9B 8.3% 8.0% 8.5% 3.2% 40.7x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $0.0M $4.0B $4.0B $4.0B $3.3B $4.2B $3.9B $4.0B $3.8B $3.7B
Gross profit $2.0B $2.2B $2.1B $2.2B $1.7B $2.3B $2.1B $2.1B $2.0B $1.8B
Research and development $129M $152M $161M $143M $123M $171M $174M $184M $165M $150M
Operating income $455M −$1.6B −$958M $353M −$3.0M $608M −$937M −$85.0M −$879M −$422M
Interest expense $35.9M $38.3M $37.0M $30.0M $48.0M $61.0M $65.0M $81.0M $69.0M $88.0M
Pretax income $441M −$1.6B −$958M $338M −$50.0M $545M −$1.1B −$175M −$936M −$486M
Income tax $9.5M −$53.2M $53.0M $82.0M $23.0M $134M −$105M −$43.0M −$26.0M $112M
Net income $430M −$1.6B −$1.0B $256M −$73.0M $411M −$950M −$132M −$910M −$598M
Diluted EPS $1.94 −$6.76 −$4.51 $1.14 −$0.33 $1.87 −$4.41 −$0.62 −$4.48 −$3.00
Diluted shares 0.22B 0.23B 0.22B 0.22B 0.22B 0.22B 0.22B 0.21B 0.20B 0.20B
Cash flow
Cash from operations $563M $602M $500M $639M $649M $657M $517M $377M $461M $235M
Capital expenditure $125M $144M $183M $123M $87.0M $142M $149M $149M $180M $131M
Free cash flow $438M $458M $317M $516M $562M $515M $368M $228M $281M $104M
Depreciation and amortization $272M $316M $331M $323M $334M $347M $328M $343M $349M $352M
Stock-based compensation $41.3M $48.0M $21.0M $66.0M $47.0M $48.0M $59.0M $46.0M $39.0M $33.0M
Acquisitions $342M $146M $130M $3.0M $1.1B $248M $0.0M $0.0M $0.0M $0.0M
Share buybacks $814M $401M $250M $260M $140M $200M $150M $300M $250M $0.0M
Dividends paid $64.6M $78.3M $79.0M $81.0M $88.0M $92.0M $104M $116M $126M $128M
Dividends and buybacks $879M $480M $329M $341M $228M $292M $254M $416M $376M $128M
Balance sheet
Cash and short-term investments $384M $321M $310M $405M $438M $339M $365M $334M $272M $326M
Total debt $1.5B $1.6B $1.6B $1.4B $2.3B $1.9B $1.9B $1.9B $1.7B $2.3B
Finance lease liabilities $0.0M $0.0M $0.0M $1.5M $1.0M $2.0M $2.0M $1.0M $0.0M $0.0M
Current assets $1.7B $2.0B $1.9B $2.0B $1.8B $1.9B $1.9B $2.0B $1.7B $2.0B
Current liabilities $768M $955M $1.0B $995M $1.4B $1.3B $1.2B $1.4B $1.6B $1.3B
Inventory $517M $623M $599M $562M $476M $515M $627M $624M $564M $642M
Property and equipment, net $800M $876M $871M $802M $791M $773M $761M $800M $766M $861M
Total assets $11.6B $10.4B $8.7B $8.6B $9.4B $9.2B $7.6B $7.4B $5.8B $5.4B
Total liabilities $3.4B $3.7B $3.6B $3.5B $4.4B $4.2B $3.8B $4.1B $3.8B $4.1B
Shareholders' equity $8.1B $6.6B $5.1B $5.1B $4.9B $5.0B $3.8B $3.3B $1.9B $1.3B
Margins
Gross margin — 54.8% 51.9% 53.8% 49.6% 55.5% 54.2% 52.6% 51.6% 50.0%
Operating margin — −39.1% −24.0% 8.8% −0.1% 14.4% −23.9% −2.1% −23.2% −11.5%
EBITDA margin — −31.2% −15.7% 16.8% 9.9% 22.6% −15.5% 6.5% −14.0% −1.9%
Net margin — −38.8% −25.4% 6.4% −2.2% 9.7% −24.2% −3.3% −24.0% −16.3%
FCF margin — 11.5% 8.0% 12.8% 16.8% 12.2% 9.4% 5.8% 7.4% 2.8%
Returns
Return on capital 7.1% −14.4% −10.6% 4.3% −0.0% 6.9% −12.4% −1.3% −16.8% −9.9%
Return on capital employed 6.2% −15.5% −11.2% 4.6% −0.0% 7.6% −13.0% −1.4% −17.4% −10.2%
Return on equity 8.2% −21.0% −17.2% 5.0% −1.5% 8.3% −21.6% −3.7% −34.8% −36.5%
Return on assets 5.4% −14.1% −10.6% 3.0% −0.8% 4.4% −11.3% −1.8% −13.9% −10.7%
Growth
Revenue growth — — −0.2% 0.9% −17.0% 26.7% −7.3% 1.1% −4.3% −3.0%
Net income growth 71.1% −460.6% — — −128.5% — −331.1% — — —
EPS growth 10.2% −448.5% — — −129.0% — −335.8% — — —
FCF growth 3.1% 4.4% −30.7% 62.8% 8.9% −8.4% −28.5% −38.0% 23.3% −63.0%
Share count change 55.5% 3.5% −2.2% 0.0% −2.3% 0.5% −2.1% −1.6% −4.2% −1.9%
Financial health
Net debt / EBITDA 1.6x — — 1.5x 5.6x 1.7x — 6.1x — —
Debt / equity 0.2x 0.3x 0.3x 0.3x 0.5x 0.4x 0.5x 0.6x 0.9x 1.7x
Interest coverage 12.7x −40.8x −25.9x 11.8x −0.1x 10.0x −14.4x −1.1x −12.7x −4.8x
Current ratio 2.3x 2.1x 1.9x 2.0x 1.3x 1.5x 1.6x 1.4x 1.1x 1.5x
Quick ratio 1.6x 1.5x 1.3x 1.5x 1.0x 1.1x 1.1x 1.0x 0.7x 1.0x
Capital allocation
Capex / revenue — 3.6% 4.6% 3.1% 2.6% 3.4% 3.8% 3.8% 4.8% 3.6%
Stock comp / revenue — 1.2% 0.5% 1.6% 1.4% 1.1% 1.5% 1.2% 1.0% 0.9%
Payouts / FCF 200.4% 104.8% 103.8% 66.1% 40.6% 56.7% 69.0% 182.5% 133.8% 123.1%
Quality scores
Piotroski F-score 5.0 4.0 5.0 7.0 3.0 8.0 4.0 5.0 3.0 6.0
Altman Z'' 4.4 2.2 1.9 3.1 1.9 2.6 1.0 1.4 −0.8 −0.3
Accruals ratio −1.7% −19.6% −15.9% −4.4% −8.0% −2.7% −17.4% −6.8% −20.9% −14.9%

Source: SEC EDGAR XBRL filings (CIK 0000818479). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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