Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
ESTA · Nasdaq · United States · Orthopedic, Prosthetic & Surgical Appliances & Supplies
In shortESTABLISHMENT LABS HOLDINGS INC. is loss-making, burns cash and carries heavy debt, with revenue growing (+27.1% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -18.5% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -24.2% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -133.3% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -12.7% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 3.04× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 10.51× | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -1.54× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -2.10 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -27.0% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 20.5% | 35/100 |
| Operating margin volatility | 8.5% | 32/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 9.3% | 68/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
4 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 127 | 162 | 165 | 166 | 211 |
| Cost of revenue | 41 | 55 | 58 | 57 | 65 |
| Gross profit | 85 | 107 | 107 | 110 | 146 |
| Research & development | 18 | 20 | 26 | 20 | 20 |
| Selling, general & admin | 92 | 126 | 146 | 140 | 165 |
| Operating income | (25) | (40) | (65) | (50) | (39) |
| Interest expense | 9.1 | 12 | 15 | 21 | 25 |
| Pre-tax income | (40) | (73) | (79) | (85) | (58) |
| Income tax | 1.4 | 2.4 | (0.1) | (0) | (7) |
| Net income | (41) | (75) | (79) | (85) | (51) |
| Diluted EPS | −$1.72 | −$3.08 | −$3.07 | −$3.00 | −$1.72 |
| Diluted shares (millions) | 24 | 24 | 26 | 28 | 30 |
4 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of ESTABLISHMENT LABS HOLDINGS INC. are included in the Investor plan. Try free for 7 days →
−2.10 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 7, 2026