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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#1127
Positioning
Market Dominance
Manufacturing
Medical Equipment
$1.2B
Juan José Chacón Quirós
Establishment Labs Holdings Inc. manufactures and markets medical devices for aesthetic and reconstructive plastic surgery. The company sells its products through exclusive distributors and direct sales force in Europe, Latin America, Asia-Pacific, and internationally.
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$ESTA ESTABLISHMENT LABS HOLDINGS INC. | 56 | 44 | 51 | 78 | - | - | -398.0% | -19.2% | 67.5% | -27.2% | -36.1% | 21.9% | 0.0% | 1971.0x | $1.2B | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
ESTABLISHMENT LABS HOLDINGS INC. (ESTA) receives a "Hold" rating with a composite score of 56.2/100. It ranks #1127 out of 7,333 stocks in our coverage universe and carries a 3-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Juan José Chacón Quirós
Chief Executive Officer
Labor Force
960
44
38
46
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for ESTA
Outperforming peers — winners tend to keep winning over 3-12 months
Fair valuation relative to peers
Average quality profile
Average volatility — neutral timing signal
Moderate investment profile
Mid-range overall rating
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for ESTA.
View All RatingsMaterial decline in asset turnover efficiency detected
High margin volatility — erratic forensic earnings quality
| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 44 | 22 | +22ALPHA |
| MOMENTUM | 78 | 81 | -3NEUTRAL |
| VALUATION | 51 | 31 | +20ALPHA |
| INVESTMENT | 38 | 67 | -29DRAG |
| STABILITY | 46 | 28 | +18ALPHA |
| SHORT INT | 41 | 34 | +7ALPHA |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROIC -1.8% vs WACC 9.0% (spread -10.8%)
GM 67% vs sector 43%, OM -27% vs sector 1%
Capital turnover 0.31x, R&D intensity 10.1%
Rev growth 22%, 8yr history
Interest coverage -0.6x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our model assigns ESTABLISHMENT LABS HOLDINGS INC. a Hold rating, with a composite score of 56.2/100 and 3 out of 5 stars. Ranked #1127 of 7,333 stocks, ESTA presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
ESTA's quality score of 44/100 is below average, suggesting challenges with profitability or capital efficiency. The company reports a return on equity of -398.0% (sector avg: -2.5%), gross margins of 67.5% (sector avg: 42.5%), net margins of -36.1% (sector avg: -0.2%). Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
ESTA's value score of 51/100 indicates the stock is fairly valued based on its current fundamentals. Key valuation metrics include a P/B ratio of 134.96x. At this level, neither a clear bargain nor overpriced, the stock's attractiveness depends more on forward growth expectations and qualitative factors.
ESTABLISHMENT LABS HOLDINGS INC.'s investment score of 38/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 21.9% vs. a sector average of 5.9% and a return on assets of -19.2% (sector: -0.1%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
ESTA shows strong momentum characteristics with a score of 78/100. The stock has been trending above key moving averages, indicating solid demand from institutional buyers. Revenue growth stands at 21.9% year-over-year, while a beta of 1.79 reflects its sensitivity to broader market moves. This level of momentum typically signals sustained investor confidence and favorable near-term price action.
With a stability score of 46/100, ESTA exhibits average financial resilience. Key stability metrics include a beta of 1.79 and a debt-to-equity ratio of 1971.00x (sector avg: 0.2x). While the balance sheet is not a major concern, the stock is subject to typical market volatility and may experience sharper drawdowns during risk-off episodes.
The short interest score of 41/100 for ESTA suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include high market sensitivity (beta: 1.79), elevated leverage (D/E: 1971.00x), small-cap liquidity risk. With a $1.2B market cap (small-cap), ESTABLISHMENT LABS HOLDINGS INC. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
ESTABLISHMENT LABS HOLDINGS INC. is a small-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #1127 of 7,333 overall (85th percentile). Key comparisons include ROE of -398.0% trailing the -2.5% sector median and operating margins of -27.2% below the 1.3% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While ESTA currently exhibits a HOLD profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Investment (38) is the limiting factor — improvement here would lift the composite score most.
ROE 15950% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin 59% ABOVE SECTOR MEDIAN (FAVORABLE)
Op. Margin 2205% BELOW SECTOR MEDIAN
AUDIT DATA AS OF SEP 30, 2025 (Q2 FY2025)
We rate ESTABLISHMENT LABS HOLDINGS INC. (ESTA) as a Hold with a composite score of 56.2/100 at a current price of $79.90. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling for existing holders. Our factors are split, and the overall profile suggests patience is warranted.
The rating is primarily driven by strength in momentum (78th percentile) and value (51th percentile), which together account for the majority of the composite score. Offsetting weakness in investment (38th percentile) and quality (44th percentile) tempers our overall conviction. We assign a No Moat rating (34/100), Very High uncertainty, and Poor capital allocation.
Key items to watch: balance sheet deleveraging progress; sustainability of the current growth rate; the path to profitability. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
ESTABLISHMENT LABS HOLDINGS INC. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 56.2/100 places it at rank #1127 in our full 7,333-stock universe. At $1.2B in market capitalization, ESTABLISHMENT LABS HOLDINGS INC. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
The near-term outlook is constructive, with revenue growing at 22% and momentum in the 78th percentile confirming positive market sentiment and institutional accumulation. The combination of strong top-line growth and favorable price dynamics suggests the company is executing well on its growth strategy. Investment factor at the 38th percentile indicates reinvestment patterns that investors should monitor for sustainability.
The margin cascade tells an important story: gross margins of 67% (+25.0pp vs sector) narrow to operating margins of -27% (-28.4pp vs sector) and net margins of -36.1%, yielding a gross-to-net conversion rate of -54%. The significant margin erosion from gross to net suggests elevated operating expenses, high interest costs, or other structural drags that warrant monitoring.
At a current price of $79.90, ESTABLISHMENT LABS HOLDINGS INC. is trading near fair value based on current fundamentals. Our value factor score of 51/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. Valuation metrics are mixed, with no strong signal of mispricing in either direction.
The stock currently trades at P/B of 135.0x, P/S of 11.8x. We evaluate these multiples in the context of both absolute levels and sector-relative positioning to form our valuation view.
Gross margins of 67% signal strong pricing power and brand/IP advantages — businesses with margins above 40% have historically demonstrated more resilient earnings through economic cycles.
Revenue growth of 22% confirms the business is expanding its addressable market — growth at this level typically supports multiple expansion and attracts institutional capital.
Positive momentum (78th percentile) indicates institutional accumulation and favorable technical dynamics that tend to persist in the intermediate term.
Elevated leverage (1971% D/E) amplifies downside risk and limits management's financial flexibility in adverse scenarios.
Thin net margins of -36.1% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
We assign a Very High uncertainty rating to ESTABLISHMENT LABS HOLDINGS INC.. The stock exhibits multiple compounding risk factors: elevated market sensitivity (beta of 1.79), significant leverage (1971% debt-to-equity), current negative profitability (net margin -36.1%). The extreme uncertainty around future cash flows makes precise valuation difficult, and the range of outcomes is exceptionally wide. Only investors with high risk tolerance and extended time horizons should consider this name.
Specific risk factors that inform our assessment include: elevated market sensitivity (beta of 1.79); significant leverage (1971% debt-to-equity); current negative profitability (net margin -36.1%); the combination of leverage (1971% D/E) and thin margins (-36.1% net) amplifies downside risk. Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 46th percentile and quality factor at the 44th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: healthy gross margins of 67% provide a buffer against cost pressures. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile warrants caution and disciplined position management.
We rate ESTABLISHMENT LABS HOLDINGS INC.'s capital allocation as Poor. Key concerns include low returns on equity (-398.0%), elevated leverage (1971% D/E), negative profitability, weak asset returns (ROA -19.2%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — ESTABLISHMENT LABS HOLDINGS INC. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, ESTABLISHMENT LABS HOLDINGS INC. receives a Hold rating with a composite score of 56.2/100 (rank #1127 of 7,333). Our quantitative framework assigns a No Moat (34/100, trend: stable), Very High uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 52/100.
Our analysis supports a neutral stance on ESTABLISHMENT LABS HOLDINGS INC.. While the quantitative profile is not weak enough to warrant selling, it lacks the multi-factor strength required for a buy recommendation. Existing holders should maintain positions and monitor for catalysts — either fundamental improvement or valuation compression — that would shift the risk-reward balance.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign ESTABLISHMENT LABS HOLDINGS INC. a meaningful economic moat, scoring 34/100 on our composite assessment. The ROIC-WACC spread of -10.8% is the primary signal of economic value creation. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, margin superiority, reached only 12.3/20.
The strongest moat sources are margin superiority (12.3/20) and growth durability (10.6/20). GM 67% vs sector 43%, OM -27% vs sector 1%. Rev growth 22%, 8yr history. These pillars form the core of ESTABLISHMENT LABS HOLDINGS INC.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include financial resilience (0/20) and reinvestment efficiency (3.5/20). Interest coverage -0.6x. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect ESTABLISHMENT LABS HOLDINGS INC.'s moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers include gross margins of 67% providing a solid profitability foundation, robust top-line growth of 22% expanding the revenue base. The margin cascade from 67% gross to -27% operating to -36.1% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality is adequate though not exceptional, with the quality factor at the 44th percentile.
The margin profile shows gross margins of 67%, operating margins of -27%, net margins of -36.1%. Return metrics include ROE of -398.0% and ROA of -19.2%. Relative to the Manufacturing sector, gross margins are 25.0 percentage points above the sector median of 43%, and ROE of -398.0% compares to a sector median of -2.5%.
The balance sheet reflects high leverage with D/E of 1971%, which may limit financial flexibility, revenue growth of 22%. The sector median D/E is 0%, putting ESTABLISHMENT LABS HOLDINGS INC. at higher leverage than the typical peer. Elevated leverage in combination with the current margin profile warrants close monitoring for any deterioration in debt-servicing capacity.
High beta of 1.79 means amplified losses in market selloffs — in a broad market correction, this stock would likely decline more than the index.
Above 50MA
37.18%
Net New Highs
+51081
NEW YORK, February 24, 2026--Establishment Labs Holdings Inc. (NASDAQ: ESTA), a global medical technology company dedicated to improving women’s health and wellness, principally in breast aesthetics and reconstruction, today announced financial results for the fourth quarter and full year ended December 31, 2025 and provided 2026 guidance.
NEW YORK, February 24, 2026--Establishment Labs Holdings Inc. (NASDAQ: ESTA), a global medical technology company dedicated to improving women’s health and wellness, principally in breast aesthetics and reconstruction, today announced a strategic leadership transition of Raj Denhoy, current Chief Financial Officer to Senior Vice President, Global Strategy, and the appointment of Cassandra "Sandra" Harris to Senior Vice President and Chief Financial Officer, effective March 9, 2026.
Establishment Labs CEO Juan Jose Chacon Quiros sold over $300,000 worth of company stock under a pre-arranged trading plan. The company has seen recent developments, including an expected FDA clearance for its Motiva implants and revenue growth, but also faces challenges with profitability.
Shares of Butterfly Network, Inc. (NASDAQ: BFLY) fell sharply during Thursday’s session after the company reported mixed fourth-quarter financial results. Butterfly Network posted GAAP loss of 21 cents per share versus market estimates for a loss of 14 cents per share. The company’s quarterly sales came in at sales came in $16.52 million versus estimates of $15.35 million. Butterfly Network shares dipped 21.7% to $1.1588 on Thursday. Here are some other stocks moving in today's mid-day session. Gainers Enveric Biosciences, Inc. (NASDAQ: ENVB) gained 177.1% to $2.30 after the company announced it has signed three non-binding term sheets with an undisclosed biotechnology company to pursue the out-licensing of compounds. Societal CDMO, Inc. (NASDAQ: SCTL) shares climbed 132.7% to $1.07 as the company agreed to be acquired by CoreRx, Inc. Volcon, Inc. (NASDAQ: VLCN) gained 55.4% to $1.8802 after surging around 39% on Wednesday. Sidus Space, Inc. (NASDAQ: SIDU) climbed 39.7% to $7.78. Ocean Biomedical, Inc. (NASDAQ: OCEA) gained 36.4% to $2.1008. Ocean Biomedical announced joint venture partner, Virion Therapeutics to present clinical study data at 2024 APASL Global Liver Meeting. Inseego Corp. (NASDAQ: INSG) rose 34.5% to $3.00. Vertex, Inc. (NASDAQ: VERX) jumped 29.8% to $32.97 after the company reported better-than-expected fourth-quarter results and issued strong FY24 guidance. iHeartMedia, Inc. (NASDAQ: IHRT) rose 29.1% to $2.93 following fourth-quarter results. Agrify Corporation (NASDAQ: AGFY) gained 27% to $0.6161. Agrify announced a $3.4 million sales order from New Jersey woman-owned business HarvestWorks Farm. Renalytix Plc (NASDAQ: RNLX) climbed 26.5% to $1.05 after the company announced that effective Mar. 1, the US approved adding the company's kidneyintelX.dkd to its 10-year Governmentwide Acquisition Contract. Tutor Perini Corporation (NYSE: TPC) gained 26% to $11.64 following fourth-quarter results. Bright Scholar Education Holdings Limited (NYSE: BEDU) gained 25.3% to $2.3178. C3.ai, Inc. (NYSE: AI) shares rose 24.6% to $37.00 after the company reported better-than-expected third-quarter financial results. Sterling Check Corp. (NASDAQ: STER) jumped 24.6% to $15.49 after the company agreed to be acquired by First Advantage for approximately $2.2 billion, including outstanding debt. Adial Pharmaceuticals, Inc. (NASDAQ: ADIL) gained 24% to $2.00. Adial Pharmaceuticals was awarded a new patent covering AD04 for the potential treatment of opioid use disorder. Revance Therapeutics, Inc. (NASDAQ: RVNC) jumped 24% to $7.02 after the company reported better-than-expected quarterly financial results. Latham Group, Inc. (NASDAQ: SWIM) climbed 22.8% to $3.36. Avidity Biosciences, Inc. (NASDAQ: RNA) jumped 22.5% to $18.70. Avidity Biosciences announced an oversubscribed $400 million private placement. Pure Storage, Inc. (NYSE: PSTG) rose 21.9% to $51.35 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter revenue guidance above estimates. ...
U.S. stocks were higher, with the Nasdaq Composite gaining around 50 points on Thursday. Shares of Hormel Foods Corporation (NYSE: HRL) rose sharply during Thursday’s session after the company reported better-than-expected first-quarter earnings and reaffirmed FY24 outlook. The company reported first-quarter adjusted earnings per share of 41 cents, beating the analyst consensus of 34 cents. Quarterly revenues of $2.997 billion, beating the analyst consensus of $2.917 billion. Hormel Foods shares climbed 12.6% to $34.72 on Thursday. Here are some other big stocks recording gains in today’s session. Vertex, Inc. (NASDAQ: VERX) jumped 29.8% to $32.97 after the company reported better-than-expected fourth-quarter results and issued strong FY24 guidance. Tutor Perini Corporation (NYSE: TPC) gained 26% to $11.64 following fourth-quarter results. C3.ai, Inc. (NYSE: AI) shares rose 24.6% to $37.00 after the company reported better-than-expected third-quarter financial results. Sterling Check Corp. ...