NVST
Envista Holdings Corp
NVST has the edge over UNH overall, supported by stronger valuation and stronger fundamentals.
UNH
UnitedHealth Group Incorporated
UNH's outlook is improving, though it still trails on the overall score.
NVST Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Stable | |
| Strong |
NVST's profitability and balance sheet are currently strong, and its revenue and cash flow are stable.
UNH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Healthy |
UNH's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
NVST PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 6.4x | $24.66 | — |
| Forward | 15x | $24.66 | — |
| Cheap | 21x | $81.70 | +231% |
| Fair | 28x | $108 | +339% |
| Expensive | 95x | $368 | +1394% |
Historical ranges are pointers, not guarantees.
NVST has the edge over UNH in the historical PE scenario, which offers more potential upside but is not a forecast.
UNH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $405 | — |
| Cheap | 19x | $325 | -20% |
| Fair | 23x | $410 | +1.2% |
| Current | 23x | $405 | — |
| Expensive | 30x | $526 | +30% |
Historical ranges are pointers, not guarantees.
UNH's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
NVST Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for NVST, with profitability improving.
UNH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Low |
Analysts expect UNH's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
NVST Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.62 | -58% |
| Q3 2026 | $3.87 | +4738% |
| Q2 2026 | $0.58 | +87% |
| Q1 2026 | $0.41 | +$6.95 |
| Q4 2025 | $0.28 | +$6.78 |
| Q3 2025 | $0.08 | +$7.84 |
| Q2 2025 | $0.31 | +$8.00 |
| Q1 2025 | -$6.54 | -$5.83 |
| Q4 2024 | -$6.50 | -$5.90 |
NVST has the edge over UNH on earnings, with more consistent year-over-year improvement.
UNH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $22.65 | +29% |
| Q3 2026 | $17.55 | -8.5% |
| Q2 2026 | $15.58 | -33% |
| Q1 2026 | $13.28 | -44% |
| Q4 2025 | $13.23 | -15% |
| Q3 2025 | $19.17 | +25% |
| Q2 2025 | $23.09 | +53% |
| Q1 2025 | $23.89 | +46% |
| Q4 2024 | $15.51 | -35% |
UNH's earnings per share have fallen from their peak: $17.55 over the past year, against $23.89 in early 2025.
NVST Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $691.5M | +3.2% |
| Q2 2026 | $730.5M | +7.1% |
| Q1 2026 | $705.5M | +14% |
| Q4 2025 | $750.6M | +15% |
| Q3 2025 | $669.9M | +11% |
| Q2 2025 | $682.1M | +7.7% |
| Q1 2025 | $616.9M | -1.1% |
| Q4 2024 | $652.9M | +1.1% |
NVST's revenue has grown year over year for six quarters in a row: $692M last quarter, up 3.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 75% | +66 points |
| Q2 2026 | 11% | +4.2 points |
| Q1 2026 | 8.9% | +2.5 points |
| Q4 2025 | 9.8% | +2.7 points |
| Q3 2025 | 8.6% | +5.1 points |
| Q2 2025 | 6.8% | +189 points |
| Q1 2025 | 6.3% | -1.4 points |
| Q4 2024 | 7.1% | +39 points |
NVST has the edge over UNH on profitability, with a higher operating margin.
UNH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $112.7B | -0.4% |
| Q2 2026 | $112B | +0.4% |
| Q1 2026 | $111.7B | +2% |
| Q4 2025 | $113.2B | +12% |
| Q3 2025 | $113.2B | +12% |
| Q2 2025 | $111.6B | +13% |
| Q1 2025 | $109.6B | +9.8% |
| Q4 2024 | $100.8B | +6.8% |
UNH has the edge over NVST on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | +2 points |
| Q2 2026 | 7.1% | +2.5 points |
| Q1 2026 | 8.1% | -0.3 points |
| Q4 2025 | 0.3% | -7.4 points |
| Q3 2025 | 3.8% | -4.8 points |
| Q2 2025 | 4.6% | -3.4 points |
| Q1 2025 | 8.3% | +0.4 points |
| Q4 2024 | 7.7% | -0.4 points |
UNH's operating margin was 5.8% last quarter, up 2 points from the same quarter a year ago.
NVST Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $61.8M | -9% |
| Q2 2026 | $104.3M | +37% |
| Q1 2026 | -$15.8M | -$10.2M |
| Q4 2025 | $91.7M | -26% |
| Q3 2025 | $67.9M | +7.3% |
| Q2 2025 | $76.4M | -11% |
| Q1 2025 | -$5.6M | -119% |
| Q4 2024 | $123.8M | +32% |
NVST still generates free cash flow, though less than at its 2020 peak: $242M over the past year.
UNH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.3B | -16% |
| Q2 2026 | $10.3B | +63% |
| Q1 2026 | $8.1B | +79% |
| Q4 2025 | $160M | -89% |
| Q3 2025 | $5.1B | -61% |
| Q2 2025 | $6.3B | +6.9% |
| Q1 2025 | $4.6B | +1037% |
| Q4 2024 | $1.5B | +$7.6B |
UNH has the edge over NVST on cash flow, with more consistent year-over-year improvement.
NVST Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -700K shares |
| 1 year | -1.6% | -2.7M shares |
| 3 years | -6.7% | -11.8M shares |
| 5 years | -8.3% | -14.7M shares |
| Available history | +20% | +27M shares |
NVST has the edge over UNH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $10M |
| Q2 2026 | $60.3M |
| Q1 2026 | $42.7M |
| Q4 2025 | $24.3M |
| Q3 2025 | $42M |
| Q2 2025 | $85.7M |
| Q1 2025 | $14.6M |
NVST spent $137M buying back its own shares over the past year.
UNH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -4M shares |
| 1 year | -0.7% | -6M shares |
| 3 years | -3.6% | -34M shares |
| 5 years | -5.5% | -53M shares |
| Available history | -6.6% | -64M shares |
UNH has 902M diluted shares, down 0.7% from a year ago, with $5B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.4B |
| Q2 2026 | $1.6B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $2.5B |
| Q1 2025 | $3B |
| Q4 2024 | $5B |
UNH spent $5B buying back its own shares over the past year, down 52% from the year before.
NVST Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.7x | Very low |
| Q3 2025 | 1.1x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2024 | 12.5x | High |
| Q4 2023 | 8.5x | High |
NVST has the edge over UNH on leverage, with a lower net debt burden relative to earnings.
UNH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.3x | Healthy |
| Q4 2024 | 1.4x | Healthy |
UNH's net debt is about 1.7 years of its operating earnings (EBITDA), about the same as a year ago.
NVST Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.8 | Neutral |
| Stochastic | 33.0 | Neutral |
NVST's weekly RSI is 49 (neutral) and its Stochastic is 33 (neutral).
UNH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 60.0 | Neutral |
UNH's weekly RSI is 56 (neutral) and its Stochastic is 60 (neutral).
NVST PE vs Healthcare Sector
| Metric | NVST | Sector median | Relative |
|---|---|---|---|
| PE | 6.4x | 26x | 75% below |
| PE % | 0 | 29 | 29 pts below |
NVST has the edge over UNH on valuation relative to its sector.
UNH PE vs Healthcare Sector
| Metric | UNH | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 26x | 11% below |
| PE % | 47 | 29 | 18 pts above |
UNH is trading at 23x earnings, a 11% discount to the Healthcare sector's median of 26x.
NVST Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $23.8 | 3.7% above |
| 20 week MA | $25.5 | 3.4% below |
| 50 week MA | $25.2 | 2.2% below |
| 100 week MA | $22.3 | 11% above |
| 200 week MA | $24.1 | 2.3% above |
NVST's trend is mixed: it's above three of its five weekly moving averages, and 2.3% above its 200-week average.
UNH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $394.2 | 2.8% above |
| 20 week MA | $400.5 | 1.2% above |
| 50 week MA | $361.2 | 12% above |
| 100 week MA | $376.0 | 7.8% above |
| 200 week MA | $446.6 | 9.3% below |
UNH has the edge over NVST on trend strength, trading above more of its moving averages.
NVST Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $30.0 | $32.4 | +8.1% |
| 2021 | $32.4 | $45.7 | +41% |
| 2022 | $45.7 | $33.1 | -28% |
| 2023 | $33.1 | $24.1 | -27% |
| 2024 | $24.1 | $19.2 | -20% |
| 2025 | $19.2 | $22.0 | +14% |
| 2026 YTD | $22.0 | $24.7 | +12% |
NVST has finished lower in three of the last six years. It's up 12% so far in 2026.
UNH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $296.0 | $340.8 | +15% |
| 2021 | $340.8 | $495.4 | +45% |
| 2022 | $495.4 | $531.3 | +7.3% |
| 2023 | $531.3 | $526.5 | -0.9% |
| 2024 | $526.5 | $510.0 | -3.1% |
| 2025 | $510.0 | $331.8 | -35% |
| 2026 YTD | $331.8 | $405.1 | +22% |
UNH has the edge over NVST on returns for 2026, with the stronger performance.