Enovis (ENOV) FY2025 results: revenue $2.2 billion, up 6.7% on the year
Enovis Corp. (ENOV) reported revenue of $2.2 billion for fiscal 2025, the year ended 31 December 2025, up 6.7% on the year before. Net income was -$1.2 billion, and diluted earnings per share $-20.75. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.
Revenue
$2.2 billion
+6.7% on the year
FY2018FY2025
Operating margin
-50.0%
-36.8% a year earlier
FY2018FY2025
Net income
-$1.2 billion
FY2018FY2025
Diluted EPS
-$20.75
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 4 new.
Full-year sales rose 7 percent: Full-year 2025 net sales were $2.2 billion, up 7% on a reported basis and 6% organically.
Goodwill impairment drove annual loss: Net loss from continuing operations was $1,182 million for the year, including a $1,050 million non-cash goodwill impairment charge; adjusted EBITDA was $403 million.
Reconstructive outgrew P&R in Q4: Fourth-quarter Reconstructive sales grew 7% reported and 3% organic, while P&R declined 1% reported and was flat organically.
Adjusted EBITDA margin flat for year: Adjusted EBITDA margin was 17.9% for the year, the same as 2024, and 19.4% in the fourth quarter against 20.1%.
Operating cash flow was $217 million: Operating cash flow was $217 million for the year, against $114 million in 2024.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
217
114
135
+91.4%
Capital expenditure
197
181
122
+9.2%
Free cash flow
19.9
-67.2
12.8
Free cash flow margin
0.9%
-3.2%
0.7%
Cash from investing
-179
-955
-242
Cash from financing
-52.4
847
128
Depreciation and amortisation
1,344
928
217
+44.9%
Share-based compensation
32.9
29.7
34.1
+11.0%
Buybacks
3.5
4.8
0.0
-26.6%
Diluted shares, weighted
57m
55m
54m
+3.2%
Shares outstanding at period end
57m
56m
55m
+2.4%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
1,490
2,562
3,418
-41.9%
Non-controlling interest
2.3
2.1
2.3
+9.2%
Debt
1,297
1,330
466
-2.5%
Other liabilities
1,046
825
622
+26.8%
Total liabilities and equity
3,835
4,719
4,509
-18.7%
Fixed assets
507
404
271
+25.4%
Goodwill
718
1,693
2,061
-57.6%
Intangible assets
1,237
1,317
1,127
-6.1%
Cash and equivalents
36.4
48.2
36.2
-24.5%
Receivables
443
407
291
+8.8%
Inventory
584
547
469
+6.8%
Other assets
309
302
254
+2.4%
Total assets
3,835
4,719
4,509
-18.7%
10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.