Professional
Added to YB: 2025-07-21
Pitch date: 2025-07-17
ENOV [bearish]
Enovis Corporation
+15.21%
current return
Author Info
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Company Info
Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions in the United States and internationally.
Market Cap
$1.7B
Pitch Price
$31.22
Price Target
N/A
Dividend
N/A
EV/EBITDA
7.89
P/E
-1.24
EV/Sales
1.40
Sector
Health Care Equipment and Supplies
Category
value
Jehoshaphat Research is Short Enovis Corporation (ENOV)
ENOV short: Serial acquirer claims 6-10% organic growth, but analysis shows true organic rate ~2% (inflation-adjusted: zero). Adjusted EBITDA inflated ~60% via accounting shenanigans: adding back royalty buyouts ($36M), excessive inventory step-ups ($25M), inventory write-downs ($18M), 15+ years of 'restructuring' ($18M), and capitalizing software purchases as intangibles. 20-year FCF consistently negative despite repeated promises of scale benefits. CEO recently resigned at 57.
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