Cooper Companies vs Envista
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The short version
- Cooper Companies is the larger business, with $4.1B of revenue in fiscal 2025 against $2.7B for Envista, about 1.5 times as much.
- Envista grew revenue faster (8.3%, against 5.1%).
- Cooper Companies kept more of each dollar of sales as operating profit (16.7% operating margin, against 8.0%).
- Cooper Companies turned more of its sales into free cash flow (10.6% FCF margin, against 8.5%).
- Cooper Companies earned a higher return on the capital invested in it (4.3%, against 3.2%).
- Investors pay more for each dollar of Envista’s earnings: a P/E of 40.7x against 21.0x for Cooper Companies.
| Latest fiscal year | COO · FY25 | NVST · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.8B | $3.9B |
| Revenue | $4.1B | $2.7B |
| Free cash flow | $434M | $230M |
| Net income | $375M | $47.0M |
| Growth | ||
| Revenue growth | 5.1% | 8.3% |
| 5-year growth | 11.0% | 7.1% |
| Share count change | −0.2% | −1.7% |
| Profitability | ||
| Gross margin | 65.5% | 54.7% |
| Operating margin | 16.7% | 8.0% |
| Net margin | 9.2% | 1.7% |
| FCF margin | 10.6% | 8.5% |
| Return on capital | 4.3% | 3.2% |
| Return on equity | 4.6% | 1.6% |
| Balance sheet | ||
| Net debt | $2.4B | $237M |
| Net debt / EBITDA | 2.3x | 0.7x |
| Dividends and buybacks | $290M | $167M |
| Valuation & quality | ||
| P/E | 21.0x | 40.7x |
| Piotroski F-score | 5 | 7 |
Revenue
FY16
COO $2.0B
NVST —
FY17
COO $2.1B
NVST $2.8B
FY18
COO $2.5B
NVST $2.8B
FY19
COO $2.7B
NVST $2.3B
FY20
COO $2.4B
NVST $1.9B
FY21
COO $2.9B
NVST $2.5B
FY22
COO $3.3B
NVST $2.6B
FY23
COO $3.6B
NVST $2.6B
FY24
COO $3.9B
NVST $2.5B
FY25
COO $4.1B
NVST $2.7B
COO
NVST
Operating margin
FY16
COO 16.5%
NVST —
FY17
COO 20.1%
NVST 13.8%
FY18
COO 15.9%
NVST 10.5%
FY19
COO 20.6%
NVST 10.3%
FY20
COO 12.8%
NVST 2.3%
FY21
COO 17.3%
NVST 12.2%
FY22
COO 15.3%
NVST 12.4%
FY23
COO 14.8%
NVST 1.2%
FY24
COO 18.1%
NVST −41.4%
FY25
COO 16.7%
NVST 8.0%
COO
NVST
Free cash flow
FY16
COO $357M
NVST —
FY17
COO $466M
NVST $310M
FY18
COO $475M
NVST $328M
FY19
COO $421M
NVST $320M
FY20
COO $176M
NVST $236M
FY21
COO $524M
NVST $307M
FY22
COO $450M
NVST $107M
FY23
COO $215M
NVST $218M
FY24
COO $288M
NVST $303M
FY25
COO $434M
NVST $230M
COO
NVST
Return on capital
FY16
COO 7.4%
NVST —
FY17
COO 9.7%
NVST —
FY18
COO 4.2%
NVST —
FY19
COO 10.6%
NVST 3.9%
FY20
COO 5.6%
NVST 0.7%
FY21
COO 7.6%
NVST 6.0%
FY22
COO 4.6%
NVST 5.2%
FY23
COO 3.8%
NVST 0.5%
FY24
COO 4.6%
NVST −19.9%
FY25
COO 4.3%
NVST 3.2%
COO
NVST
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.