INTEGRA LIFESCIENCES HOLDINGS CORP IART
Integra LifeSciences Holdings Corporation is a global medical technology company dedicated to restoring lives. We are advancing transformational care through impactful innovation and our portfolio of highly differentiated technologies is trusted by healthcare professionals to deliver transformative care.
We manufacture and sell medical technologies and products in two reportable business segments: Codman Specialty Surgical ("CSS") and Tissue Technologies ("TT"). The CSS segment, which represents approximately 70% of our total revenue, consists of market-leading technologies and instrumentation used for a wide range of specialties, such as neurosurgery, neurocritical care, and otolaryngology, commonly referred to as ear, nose, and throat ("ENT"). We are the world leader in neurosurgery and one of the top three providers in the U.S. in instruments used in precision, specialty, and general surgical procedures. Our TT segment generates about 30% of our overall revenue and focuses on wound reconstruction and care and private label.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.64B | $1.61B | $1.54B | $1.56B | $1.54B | $1.37B | $1.52B | $1.47B | $1.19B | $992.1M |
| Cost of revenue | $803.6M | $728.5M | $656.8M | $587.4M | $597.8M | $520.8M | $564.7M | $571.5M | $435.5M | $349.1M |
| Gross profit | $831.6M | $882.1M | $884.7M | $970.3M | $944.6M | $851.0M | $952.9M | $900.9M | $752.7M | $643.0M |
| R&D | — | — | — | — | — | — | — | $78.0M | $63.5M | $58.2M |
| SG&A | $699.7M | $717.0M | $656.6M | $616.3M | $637.4M | $594.5M | $687.6M | $690.7M | $624.1M | $455.6M |
| Total operating expenses | $2.13B | $1.58B | $1.43B | $1.32B | $1.35B | $1.22B | $1.42B | $1.36B | $1.14B | $876.7M |
| Operating income | -$493.4M | $28.4M | $111.5M | $238.9M | $197.2M | $151.4M | $93.8M | $111.0M | $44.8M | $115.3M |
| Interest expense | $86.3M | $70.6M | $51.4M | $49.6M | $50.4M | $71.6M | $54.0M | $64.7M | $35.0M | $25.8M |
| Pre-tax income | -$563.5M | -$18.2M | $81.1M | $213.9M | $214.7M | $93.5M | $60.1M | $57.4M | $11.4M | $90.4M |
| Income tax | $47.0M | $11.3M | $13.3M | $33.3M | $45.6M | $40.4M | $9.9M | $3.4M | $53.4M | $15.8M |
| Net income | -$516.8M | -$6.9M | $67.7M | $180.6M | $169.1M | $133.9M | $50.2M | $60.8M | $64.7M | $74.6M |
| EPS, basic | -6.74 | -0.09 | 0.85 | 2.18 | 2.00 | 1.58 | 0.59 | 0.73 | 0.84 | 1.00 |
| EPS, diluted | -6.74 | -0.09 | 0.84 | 2.16 | 1.98 | 1.57 | 0.58 | 0.72 | 0.82 | 0.94 |
| Shares, diluted (wtd. avg.) | $76.7M | $77.0M | $80.3M | $83.5M | $85.5M | $85.2M | $86.5M | $84.0M | $79.1M | $79.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $235.0M | $246.4M | $276.4M | $456.7M | $513.4M | $470.2M | $198.9M | $138.8M | $174.9M | $102.1M |
| Short-term investments | $28.7M | $27.2M | $32.7M | $0 | — | — | — | — | — | — |
| Receivables | $278.8M | $272.4M | $259.3M | $263.5M | $231.8M | $225.5M | $275.3M | $265.7M | $251.8M | $148.2M |
| Inventory | $492.7M | $429.1M | $389.6M | $324.6M | $317.4M | $310.1M | $316.1M | $280.3M | $296.3M | $217.3M |
| Total current assets | $1.16B | $1.08B | $1.06B | $1.16B | $1.15B | $1.24B | $858.2M | $775.1M | $822.1M | $495.2M |
| Property, plant and equipment | $444.3M | $405.7M | $340.2M | $311.3M | $311.7M | $287.5M | $337.4M | $300.1M | $269.3M | $222.4M |
| Goodwill | $615.2M | $1.10B | $1.06B | $1.04B | $1.01B | $932.4M | $954.3M | $926.5M | $937.9M | $510.6M |
| Other intangibles | $1.13B | $1.21B | $1.07B | $1.13B | $1.15B | $989.4M | $1.03B | $1.08B | $1.16B | $561.2M |
| Total assets | $3.60B | $4.04B | $3.78B | $3.89B | $3.78B | $3.62B | $3.30B | $3.11B | $3.21B | $1.81B |
| Total current liabilities | $456.0M | $922.1M | $307.0M | $320.9M | $340.0M | $401.0M | $331.3M | $262.6M | $348.9M | $123.6M |
| Long-term debt | $726.6M | $760.5M | $775.0M | $775.0M | $843.8M | $877.5M | $877.5M | $900.0M | — | — |
| Total liabilities | $2.56B | $2.49B | $2.19B | $2.09B | $2.10B | $2.10B | $1.89B | $1.73B | $2.25B | $968.3M |
| Retained earnings | $423.4M | $939.9M | $946.9M | $879.1M | $698.6M | $532.3M | $398.6M | $348.4M | $285.2M | $220.4M |
| Total equity | $1.04B | $1.55B | $1.59B | $1.80B | $1.68B | $1.51B | $1.42B | $1.38B | $962.3M | $839.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $50.4M | $129.4M | $140.0M | $264.5M | $312.4M | $203.8M | $231.4M | $199.7M | $114.5M | $116.4M |
| Depreciation and amortisation | $44.8M | $42.4M | $40.9M | $40.1M | $39.4M | $42.1M | $42.6M | $44.1M | $88.9M | $72.7M |
| Stock-based compensation | $18.6M | $24.4M | $20.1M | $27.7M | $36.2M | $19.6M | $21.3M | $20.8M | $21.6M | $17.3M |
| Capital expenditure | $81.4M | $104.4M | $66.9M | $42.3M | $48.0M | $38.9M | $69.5M | $77.7M | $43.5M | $47.3M |
| Investing cash flow | -$108.1M | -$390.8M | -$94.2M | -$58.6M | -$161.4M | -$68.1M | -$162.7M | -$49.7M | -$1.22B | -$42.6M |
| Financing cash flow | $28.3M | $237.9M | -$229.9M | -$252.0M | -$98.2M | $121.6M | -$8.8M | -$180.9M | $1.17B | -$15.1M |
| Buybacks | $221.0K | $52.5M | $275.0M | $125.0M | $0 | $100.0M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000917520-26-000015.
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