ENOVIS CORP Reports 8.4% Increase in Total Revenue for Q2 FY2023
August 14, 2023
☀️Earnings Overview
On August 3 2023, ENOVIS CORP ($NYSE:ENOV) revealed their earnings results for Q2 of FY2023, recording a total revenue of USD 428.5 million, a 8.4% rise from the same quarter in the prior year. However, its net income for the quarter fell to USD -10.0 million, down from the USD 76.9 million reported in the same quarter in the previous year.
Analysis
With the help of GoodWhale, we can analyze the financial and business aspects of a company. Upon analyzing the risk rating, GoodWhale has identified ENOVIS CORP as a high risk investment. This is based on their income sheet and balance sheet. We have detected 2 risk warnings from these two documents, so it is important to register with GoodWhale to get more information about these warnings. Doing so will enable us to make better and more informed decisions when it comes to investing in ENOVIS CORP. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Enovis Corp. More…
| Total Revenues | Net Income | Net Margin |
| 1.63k | -138.56 | -8.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Enovis Corp. More…
| Operations | Investing | Financing |
| 19.01 | -262.2 | 179.88 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Enovis Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.44k | 992.79 | 63.24 |
Key Ratios Snapshot
Some of the financial key ratios for Enovis Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -19.9% | -3.3% | -6.6% |
| FCF Margin | ROE | ROA |
| -6.5% | -2.0% | -1.5% |
Peers
Enovis Corp, a leading provider of optoelectronic products and services, competes with Beyond Medical Technologies Inc, Hefei Meyer Optoelectronic Technology Inc, and Optorun Co Ltd in the optoelectronic market. Enovis Corp has a strong product portfolio and offers a wide range of optoelectronic products and services to its customers. The company has a strong R&D team and a state-of-the-art manufacturing facility. Enovis Corp is committed to providing the best products and services to its customers and has a strong customer base. The company has a strong brand and is well-positioned in the optoelectronic market.
– Beyond Medical Technologies Inc ($OTCPK:DOCKF)
The company’s market cap is 576.96k as of 2022 and its ROE is -135.24%. The company is engaged in the development, manufacture and sale of medical devices and supplies.
– Hefei Meyer Optoelectronic Technology Inc ($SZSE:002690)
Hefei Meyer Optoelectronic Technology Inc is a Chinese company that manufactures optoelectronic products. Its products are used in a variety of industries, including telecommunications, automotive, and consumer electronics. The company has a market cap of 22.2B as of 2022 and a return on equity of 16.74%.
– Optorun Co Ltd ($TSE:6235)
Optorun Co Ltd is a Japanese company that manufactures and sells optical products. The company has a market cap of 89.2 billion as of 2022 and a return on equity of 12.09%. The company’s products include lenses, cameras, and other optical products.
Summary
Overall, ENOVIS CORP‘s second quarter FY2023 financial results were not good. The company reported total revenue of USD 428.5 million, an 8.4% increase from the same quarter in the prior year, but net income was down to USD -10.0 million from USD 76.9 million in the previous year. This caused the stock price to move down on the same day.
Investors should cautiously consider investing in ENOVIS CORP, as there are lots of uncertainties surrounding the company’s financial performance in the near future. A thorough analysis of the company’s financials should be done before making any decisions.
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