Short answer
Enovis CORP (ENOV) filed its fiscal 2025 10-K annual report with the SEC on Feb 26, 2026. It reported revenue of $2.2B (+6.7% year over year) and net income of −$1.2B.
- Top risk flagged: Sarbanes-Oxley Act compliance risk from failed internal control integration at acquisitions, e.g., Lima Acquisition, possibly causing material misstatements in financial reports
FY2025 key financial metrics · XBRL
- Revenue
- $2.2B
- +6.7% YoY
- Net income
- −$1.2B
- −43.5% YoY
- Operating margin
- -50.0%
- −13.2 pp YoY
- Gross margin
- 59.8%
- +3.8 pp YoY
- EPS (diluted)
- −$20.75
- −39.0% YoY
- ROE
- -79.5%
- −47.3 pp YoY
- Operating cash flow
- $217M
- +91.4% YoY
Source: XBRL data from the Enovis CORP (ENOV) FY2025 10-K on SEC EDGAR. USD.
Enovis CORP FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Orthopedic solutions via two segments; Prevention & Recovery (P&R) and Reconstructive (Recon) with global manufacturing and sales
- New emphasis on Recon segment growth via $865.6M Lima acquisition in Jan 2024, adding digital innovation and customized hardware
- Strategic shift: Divested Dr Comfort Footcare Solutions in Oct 2025; focus sharpened on direct sales integration and streamlined global operations
- Notable metric: Net sales grew 6.7% to $2.248B in 2025, driven by existing business growth and favorable currency, despite $17.3M sales loss from divestitures
- Unusual fact: Reported $1.05B goodwill impairment charge in 2025, a significant non-cash expense impacting operating loss and net loss margins
Management Discussion & Analysis
- Revenue $2.248B, up 5.1% YoY: P&R $1.137B (+$39M), Recon $1.111B (+$101.4M)
- Operating loss margin worsened: P&R (32.9)% vs (29.3)%, Recon (67.5)% vs (45.0)% in 2024 due to goodwill impairments ($387.8M P&R, $662M Recon)
- Best segment Recon: Adjusted EBITDA $239.9M (+$23M), margin stable 21.6% vs 21.5%; worst P&R operating loss margin (32.9)%
- Cash flow: Operating cash flow $217.3M (+$103.8M), CapEx $197.4M, acquisitions $26.9M; Financing used $52.4M including $3.5M buybacks; $36.4M cash on hand
- Forward outlook: Credit facility increased to $1.1B revolver and $700M term loan; Senior secured leverage ratio covenant of 3.50:1; risks from goodwill impairments and acquisition integration costs
Risk Factors
- Sarbanes-Oxley Act compliance risk from failed internal control integration at acquisitions, e.g., Lima Acquisition, possibly causing material misstatements in financial reports
- Geopolitical risk from supply chain in China and Asia; political instability risks disrupting access to raw materials critical to manufacturing
- Manufacturing disruption risk from equipment failure, natural disasters, terrorism, labor shortages affecting facility operations and customer order fulfillment
- Competitive risk from superior rival technologies and products; competitors with greater resources could cause market share loss and pricing pressure
- Financial risk of $1.7B+ outstanding debt subject to restrictive covenants limiting transactions and increasing vulnerability to economic downturns
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