Fact based stock research
Establishment Labs Holdings (NasdaqCM:ESTA)

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Establishment Labs Holdings stock research in summary

establishmentlabs.com

ANALYSIS: With an Obermatt Combined Rank of 25 (worse than 75% compared with investment alternatives), Establishment Labs Holdings (Health Care Supplies, Costa Rica) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Establishment Labs Holdings are low in value (priced high) with a consolidated Value Rank of 29 (worse than 71% of alternatives), and are riskily financed (Safety Rank of 17, which means above-average debt burdens) but show above-average growth (Growth Rank of 75). ...read more

RECOMMENDATION: A Combined Rank of 25, is a hold recommendation based on Establishment Labs Holdings's financial characteristics. As the company Establishment Labs Holdings shows low value with an Obermatt Value Rank of 29 (71% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 75% of comparable companies (Obermatt Growth Rank is 75). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 17 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for Establishment Labs Holdings, even a low-value company (in terms of its key financial indicators) can be a good investment. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	29
Growth Rank	75
Safety Rank	17
Combined Rank	25

Country	Costa Rica
Industry	Health Care Supplies
Index	NASDAQ
Size class	Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Research History: Establishment Labs Holdings

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	13	33	25	29
GROWTH
GROWTH	35	1	37	75
SAFETY
SAFETY	18	20	8	17
SENTIMENT
SENTIMENT	27	76	24	^new
360° VIEW
360° VIEW	3	10	6	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Establishment Labs Holdings is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	13	33	25	29
GROWTH
GROWTH	35	1	37	75
SAFETY
SAFETY	18	20	8	17
COMBINED
COMBINED	4	1	1	25

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Establishment Labs Holdings the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 29 (worse than 71% compared with alternatives), Establishment Labs Holdings shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with all four indicators below average for Establishment Labs Holdings. Price-to-Sales is 35 which means that the stock price compared with what market professionals expect for future profits is higher than 65% of comparable companies, indicating a low value concerning Establishment Labs Holdings's sales levels. Price-to-Book Capital (also referred to as market-to-book ratio) also has a low Price-to-Book Rank of 4, which means that both reliable company size indicators, sales, and invested capital cannot explain the high stock price of Establishment Labs Holdings. In addition, the two profit-related value indicators, Price-to-Profit (also referred to as price-earnings, P/E) with a low rank of 2 and Dividend Yield, which is lower than 99% of comparable companies, also make the stock more expensive compared with investment alternatives. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 29, is a hold recommendation based on Establishment Labs Holdings's stock price compared with the company's operational size and dividend yields. How can market participants pay such a high price for Establishment Labs Holdings? One reason may be that the company is simply too popular. If enough people want a particular stock, its price can exceed reasonable levels. This is often the case for companies offering new and exciting products and everybody wants a piece of the action. Should you pay a lot for a hot stock such as Establishment Labs Holdings? It's risky, and even if the stock price continues to grow because of popular demand, it may return to more typical lower levels later. And that return can be sudden and quick, making it impossible for retail investors to exit on time. Sometimes, high prices are deserved. This is the case when it is justified to believe that the company will dominate a market with high profit margins. It has happened in the past for many technology companies and indeed for commercially successful pharmaceutical discoveries. Sometimes they last, sometimes, they get eaten alive. Establishment Labs Holdings may be such a type of stock. That would mean, retail investors should be careful, only considering investing a small part of their wealth in this exciting category and always being ready to lose more than half, if not all of the investment. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	13	54	42	35
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	2	2	2	2
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	9	4	2	4
DIVIDEND YIELD
DIVIDEND YIELD	1	1	1	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	13	33	25	29

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Establishment Labs Holdings; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 75 (better than 75% compared with alternatives) for 2025, Establishment Labs Holdings shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Establishment Labs Holdings. Sales Growth has a value of 94 which means that currently professionals expect the company to grow more than 94% of its competitors. Profit Growth with a value of 76 and Capital Growth with a rank of 61 means that currently, professionals expect the company to grow both profits and invested capital more than of its competitors. But Stock Returns has only a rank of 45, which means that stock returns have recently been below 55% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 75, is a buy recommendation for growth and momentum investors. Establishment Labs Holdings has only one below-average growth indicator, the stock returns. This is probably the least reliable growth indicator, because it measures company and investor expectations at the same time. The three other growth indicators, which are all positive for Establishment Labs Holdings, are more reliable measures of growth momentum. For this reason, the company seems to be on a good trajectory, unless you think the current period is not representative, because of unique events that will not be repeated in the future. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	86	23	92	94
PROFIT GROWTH
PROFIT GROWTH	28	16	46	76
CAPITAL GROWTH
CAPITAL GROWTH	26	4	13	61
STOCK RETURNS
STOCK RETURNS	41	1	45	45
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	35	1	37	75

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Establishment Labs Holdings.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 17 (better than 17% compared with alternatives), the company Establishment Labs Holdings has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Establishment Labs Holdings is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Establishment Labs Holdings and the other two below average. Refinancing is at 69, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 69% of its competitors. But Leverage is high with a rank of 1, meaning the company has an above-average debt-to-equity ratio. It has more debt than 99% of its competitors. Liquidity is also on the riskier side with a rank of 7, meaning the company generates less profit to service its debt than 93% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 17 (worse than 83% compared with alternatives), Establishment Labs Holdings has a financing structure that is significantly riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Establishment Labs Holdings are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with Establishment Labs Holdings and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	18	1	1	1
REFINANCING
REFINANCING	61	85	69	69
LIQUIDITY
LIQUIDITY	4	6	6	7
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	18	20	8	17

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Establishment Labs Holdings and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	95	87	^new
OPINIONS CHANGE
OPINIONS CHANGE	9	72	62	^new
PRO HOLDINGS
PRO HOLDINGS	3	1	4	^new
MARKET PULSE
MARKET PULSE	77	81	1	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	27	76	24	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Establishment Labs Holdings.
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