| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 77 | — | 17.8x | Top tier | |
Growth | 25 | -0.8% | 7.1% | Bottom tier | |
Quality | 30 | -12.8% | 4.5% | Bottom tier | |
Safety | 34 | 16.3x | 2.6x | Bottom tier | |
Capital Return | 68 | 6.12% | 2.12% | Top tier | |
Momentum | 31 | -8.5% | 2.9% | Bottom tier | |
Sentiment | 95 | 12 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
DENTSPLY SIRONA operates in dental products and technologies through four operating units. CTS includes imaging equipment, treatment centers, and CAD/CAM solutions; EDS encompasses endodontic, restorative, and preventive products; OIS includes implants and orthodontic products such as SureSmile; and Wellspect Healthcare operates in healthcare products and benefits from product launches and geographic expansion. The company generates revenue from the sale of capital equipment, consumables, implants, and orthodontic solutions, as well as from its DS Core digital ecosystem, which connects diagnosis, treatment planning, and clinical execution.
In Q2 fiscal 2026, revenue was $898 million, down 4.1% year over year and 6.3% in constant currencies, or 3.6% in constant currencies after excluding the impact of Byte and the planned distributor inventory reduction of approximately $8 million. Adjusted earnings per share were $0.52, flat year over year and above analysts' expectations of $0.35, but $0.17 of that came from $44 million in tariff refunds. The adjusted EBITDA margin remained approximately stable, as tariff refunds offset the impact of lower volumes, sales mix, and incremental tariffs, while operating expenses increased by $12 million, including an approximately $8 million negative currency impact.
The Q2 fiscal 2026 revenue mix highlights areas of strength and weakness: EDS generated approximately $376 million, representing about 42% of revenue, down 2.7%, while CTS generated approximately $239 million, or about 27%, down 1.5%. OIS revenue was approximately $197 million, or about 22%, and fell 13.2%, or 5.7% after adjusting for the impact of Byte, while Wellspect Healthcare grew 7.1% to $86 million, representing about 10% of revenue. According to EDGAR, the company recorded Q1 fiscal 2026 revenue of $880 million and gross profit of $427 million, but the net result remained a loss of $10 million, with negative earnings per share of $0.05.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus on XRAY is Neutral, with an average target of $14 and a wide range of $11 to $17; the average is below the 52-week range high of $14.86, while the highest target exceeds that high. No positive price-to-earnings ratio is available because of the $598 million loss in fiscal 2025 and the $628 million loss during the twelve months ended in fiscal 2026, so valuation depends more heavily on the success of the turnaround and the restoration of growth and profitability, with the 52-week range of $9.41 to $14.86 indicating the breadth of uncertainty.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
In Q2 fiscal 2026, revenue declined 4.1% to $898 million, or 6.3% in constant currencies, while adjusted earnings per share were $0.52 compared with expectations of $0.35. Earnings benefited from $44 million in tariff refunds that added $0.17 per share, so the entire beat did not result from recurring operations. After excluding Byte and the planned distributor inventory reduction of approximately $8 million, the constant-currency revenue decline remained 3.6%.
Wellspect Healthcare was the strongest in Q2 fiscal 2026, with revenue growing 7.1% to $86 million, supported by new products and geographic expansion. OIS was the weakest, declining 13.2% to $197 million, or 5.7% after adjusting for the impact of Byte, with SureSmile, which generated revenue of $40 million, declining at a double-digit rate. EDS, the largest unit with revenue of $376 million, declined 2.7%, while CTS fell 1.5% to $239 million.
The company is targeting revenue between $3.5 billion and $3.6 billion and adjusted earnings per share between $1.40 and $1.50 in fiscal 2026. The earnings range excludes the benefit of tariff refunds and the impact of incremental tariffs, making it more representative of expected underlying performance. Management expects a sequential revenue decline and earnings below the Q2 level in Q3 fiscal 2026, with the effects of commercial investments becoming clearer beginning in Q4.
DENTSPLY SIRONA is executing a 24-month plan focused on customers, improving execution, increasing investment, and strengthening the financial foundation, and had completed six months of it at the August 6, 2026 call. The company expanded its capital equipment network through Atlanta Dental and Nashville Dental and its relationship with Medline Sinclair, and estimates that distributor onboarding and pipeline development take approximately nine months. Implant representatives in the United States also completed an intensive certification program, the company brought together more than one thousand practitioners at the Global Implant Summit, and four European groups began implementing DS Core.
Operating cash flow was $99 million in Q2 fiscal 2026, compared with approximately $48 million a year earlier, supported by tariff refunds and improved management of accounts payable and inventory. The company ended the quarter with cash and cash equivalents of $239 million, but the net debt-to-EBITDA ratio remained at 3.2 times, unchanged from Q1 fiscal 2026. The company repurchased 1.3 million shares for approximately $12 million while reaffirming that debt reduction remains a priority.
John C. Fortson joined DENTSPLY SIRONA on July 20, 2026 as Executive Vice President and Chief Financial Officer, and the Q2 fiscal 2026 call was his first earnings call in that role. The company said his experience includes serving as Chief Financial Officer and Chief Executive Officer of public companies, as well as managing turnarounds and maintaining capital allocation discipline. Fortson identified his priorities as returning to growth and maximizing profitability and cash flow, with a direct focus on working capital and debt reduction.
