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what it is
Dentsply Sirona makes dental tools, machines, and software for dentists in 150 countries.
how it gets paid
Last year Dentsply Sirona made $3.7B in revenue. Consumables & supplies was the main engine at $1.35B, or 36% of sales.
why growth slowed
Revenue fell 3.0% last year. The $2.7B quarter mattered because it was big on paper.
what just happened
Dentsply Sirona missed the line while revenue landed at $2.7B and gross margin held at 51.4%.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
15/100 earnings predictability — expect surprises
8.0x trailing p/e — the market's not buying it — or you found a deal
5.8% dividend yield — cash in your pocket every quarter
14.5% return on capital — nothing to write home about
xvary composite: 56/100 — below average
What they do
Dentsply Sirona makes dental tools, machines, and software for dentists in 150 countries.
Dentists do not swap scanners, drills, and consumables like phone cases. Dentsply sells in 150 countries, and foreign sales (revenue outside the U.S.) were about 65% of 2024 total. That means your local dentist is buying through a global machine.
How they make money
$3.7B
annual revenue · their business grew -3.0% last year
Consumables & supplies
$1.35B
+1.0%
Equipment & instruments
$0.95B
5.0%
Digital dentistry
$0.65B
+4.0%
Implants
$0.45B
+0.5%
Orthodontics & other
$0.30B
3.0%
The products that matter
core dental equipment and consumables franchise
Dental equipment and consumables
$3.7B revenue · entire business
it's the full $3.7B business. Sales fell 3.0% last year, so recovery is not about one hit product. It is about getting the whole machine to stop shrinking.
100% of revenue
Key numbers
$19
target price
The stock has 49% room from $12.72 to $19.
8.0x
trailing p/e
You pay 8 dollars for 1 dollar of trailing earnings. That is cheap only if profits stop breaking.
5.8%
dividend yield
You collect $5.80 a year for every $100 invested. The payout is doing more work than sales.
11.5%
operating margin
The core business loses 11.5 cents on every sales dollar. That is the bill the market is ignoring.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 50 / 100
- long-term debt $2.0B (45% of capital)
- net profit margin 13.4% — keeps 13 cents of every dollar in revenue
- return on equity 18% — $0.18 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in XRAY 3 years ago → it's now worth $3,770.
The index would have given you $14,770.
source: institutional data · total return
What just happened
missed estimates
Dentsply Sirona missed the line while revenue landed at $2.7B and gross margin held at 51.4%.
The filing showed a $2.7B quarter, up 201% vs. prior year. But the earnings line was still weak, with EPS at -$2.27 in the filing and the latest reported quarterly result at $0.27 versus $0.28 expected.
$2.7B
revenue
$2.27
eps
51.4%
gross margin
the number that mattered
The $2.7B quarter mattered because it was big on paper, but the -$2.27 EPS showed the business still had a profit problem.
-
the revised 2025 outlook is more conservative, but the strategy behind it is clearer.management is prioritizing customer engagement, rebuilding the u.s. sales foundation, and pulling forward product development to support growth in 2026 and beyond.
-
leadership changes in finance and operations underscore the push for accountability and execution, while the retention of wellspect provides a steady source of cash flow and stability.
-
these shares are down about 5% since our last november review, a modest decline relative to the broader drawdown earlier in 2025.while risks remain elevated and near-term visibility is limited, the company appears better positioned than it was several quarters ago.
-
the focus has shifted from stabilization to active execution, with clearer ownership across commercial, operational, and transformation initiatives.near-term results may remain choppy, but the internal reset now underway should improve consistency and decision-making over time. for patient investors with a long runway, the groundwork for recovery continues to take shape, even if progress remains incremental. risk-tolerant accounts with a long-term investment horizon may be rewarded handsomely from a position here. due to the aforementioned share price decrease of late, our 18-month and 3 to 5-year target price ranges indicate strong appreciation potential. on the other hand, xray holds unappealing scores for growth consistency (5), and earnings predictability (15). most-types of investors should stay put at this juncture, especially as near-term pressure from tariffs and macroeconomic uncertainty persist.
source: company earnings report, 2026
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What could go wrong
XRAY is not dealing with abstract risk. It is dealing with a very specific mix: shrinking sales, a damaged margin profile, and a dividend that looks generous because the stock lost credibility.
med
dividend support weakens
a 5.8% yield looks generous until you remember the business just posted a -$2.14 EPS quarter and carries $2.0B in long-term debt. Income only feels safe when earnings do.
if profits stay weak, the dividend stops being a feature and starts looking like a choice between support for shareholders and support for the turnaround
med
the sales rebuild does not show up in revenue
management is explicitly rebuilding customer engagement and the u.s. sales foundation. That sounds necessary because revenue already fell 3.0% last year. If the commercial reset misses, the low multiple has no reason to move.
this page has one revenue line: $3.7B for the whole company. There is nowhere else to hide
med
another quarter like the last one freezes the rerating story
earnings predictability is 15/100 and the latest quarter carried a -47.2% net margin. Cheap stocks rerate when the damage starts looking temporary. This one still has to prove that point.
if quarterly results keep lurching around, the stock stays a repair story no matter how low the p/e looks
a $3.7B revenue company with $2.0B in debt, a 5.8% yield, and a -47.2% margin quarter does not have much room for another execution miss.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
whether sales actually stop shrinking
last full-year revenue fell 3.0%. That is the simplest scoreboard on the page. If management does not flatten that line, the turnaround stays theoretical.
calendar
the next update on 2025 and 2026 priorities
management already framed customer engagement, the u.s. sales foundation, and faster product development as the fix. The next event matters because you need proof those priorities are changing the numbers.
risk
the dividend against operating reality
a 5.8% yield on a stock this small gets attention. It also raises the obvious question: is management defending the payout while the business is still in repair mode.
trend
institutions buying before fundamentals look clean
institutions have been net buyers for three straight quarters. If that continues while the business stabilizes, the market starts believing the repair story before the quarterly numbers look pretty.
Analyst rankings
short-term outlook
average
momentum score 3. In human-speak, analysts think the stock is basically moving with the tape, not breaking out on its own.
risk profile
average
stability score 3 means middle-of-the-pack risk. Not a bunker stock. Not a disaster zone either.
chart momentum
below average
technical score 4 means the chart still looks heavy. The market has not started rewarding the turnaround narrative yet.
earnings predictability
15 / 100
low predictability means exactly what it sounds like: the quarterly numbers can lurch around, and they have.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 222 buyers vs. 169 sellers in 3q2025. total institutional holdings: 0.2B shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$10
$27
$13
current price
$19
target midpoint · +49% from current · 3-5yr high: $30 (+135% · 26% ann'l return)
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The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
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