Integer Holdings Corp ITGR
Integer Holdings Corporation, headquartered in Plano, Texas, is one of the world's largest medical device contract development and manufacturing organizations ("CDMOs"), serving the Cardio and Vascular, Neuromodulation, and Cardiac Rhythm Management markets. As a strategic partner of choice, we advance the goals of our medical device customers through industry-leading engineering and manufacturing, with a relentless commitment to quality, service, and innovation. Our brands include Greatbatch Medical® and Lake Region Medical®. Our primary customers include large, multi-national original equipment manufacturers ("OEMs") and their affiliated subsidiaries. When used in this report, the terms "Integer," "we," "us," "our" and the "Company" mean Integer Holdings Corporation and its subsidiaries.
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 | $1.85B | $1.72B | $1.56B | $1.33B | $1.22B | $1.07B | $1.26B | $1.22B | $1.14B | $1.08B |
| Cost of revenue | $1.35B | $1.26B | $1.15B | $985.5M | $884.1M | $787.7M | $903.1M | $852.3M | $782.1M | $737.8M |
| Gross profit | $500.4M | $459.0M | $409.9M | $345.8M | $337.0M | $285.7M | $355.0M | $362.7M | $354.0M | $337.7M |
| SG&A | $211.7M | $185.2M | $173.2M | $158.1M | $141.4M | $109.0M | $138.7M | $142.4M | $143.1M | $136.4M |
| Total operating expenses | $279.1M | $250.8M | $246.6M | $233.1M | $201.3M | $165.1M | $197.4M | $207.1M | $228.4M | $244.8M |
| Operating income | $221.3M | $208.2M | $163.3M | $112.7M | $135.7M | $120.6M | $157.6M | $155.6M | $125.6M | $92.9M |
| Interest expense | $43.2M | $56.4M | $51.3M | $37.3M | $31.6M | $38.2M | $52.5M | $99.3M | $64.0M | $68.3M |
| Pre-tax income | $125.4M | $147.6M | $105.4M | $68.7M | $101.1M | $86.2M | $105.2M | $61.1M | $49.3M | $28.2M |
| Income tax | $22.6M | $26.5M | $16.2M | $8.9M | $8.0M | $8.9M | $14.0M | $14.1M | $37.8M | $3.3M |
| Net income | $102.8M | $119.9M | $90.7M | $66.4M | $96.8M | $77.3M | $96.3M | $168.0M | $66.7M | $6.0M |
| EPS, basic | 2.96 | 3.57 | 2.72 | 2.00 | 2.93 | 2.35 | 2.95 | 5.23 | 2.12 | 0.19 |
| EPS, diluted | 2.89 | 3.36 | 2.69 | 1.99 | 2.91 | 2.33 | 2.92 | 5.15 | 2.08 | 0.19 |
| Shares, diluted (wtd. avg.) | $35.6M | $35.6M | $33.8M | $33.4M | $33.3M | $33.1M | $33.0M | $32.6M | $32.1M | $31.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $17.2M | $46.5M | $23.7M | $24.3M | $17.9M | $49.2M | $13.5M | $25.6M | $44.1M | $52.1M |
| Receivables | $346.1M | $245.3M | $231.3M | $224.3M | $182.3M | $156.2M | $192.0M | $185.5M | $194.8M | $204.6M |
| Inventory | $253.7M | $247.1M | $229.1M | $208.8M | $155.7M | $149.3M | $167.3M | $190.1M | $176.7M | $225.2M |
| Total current assets | $770.1M | $671.1M | $617.7M | $558.3M | $453.0M | $412.9M | $415.4M | $416.2M | $531.9M | $517.3M |
| Property, plant and equipment | $536.4M | $465.8M | $392.6M | $317.2M | $277.1M | $254.0M | $246.2M | $231.3M | $235.2M | $372.0M |
| Goodwill | $1.11B | $1.02B | $994.0M | $965.2M | $924.7M | $859.4M | $839.6M | $832.3M | $839.9M | $967.3M |
| Other intangibles | $825.4M | $778.3M | $779.6M | $819.9M | $807.8M | $757.2M | $775.8M | $812.3M | $862.9M | $940.1M |
| Total assets | $3.41B | $3.08B | $2.94B | $2.79B | $2.58B | $2.37B | $2.35B | $2.33B | $2.85B | $2.83B |
| Accounts payable | $113.1M | $101.5M | $118.3M | $110.8M | $76.9M | $51.6M | $65.0M | $57.2M | $64.6M | $77.9M |
| Short-term debt | $0 | $10.0M | $0 | $18.2M | $15.2M | $37.5M | $37.5M | $37.5M | $30.5M | $31.3M |
| Total current liabilities | $232.0M | $227.2M | $221.0M | $223.8M | $159.6M | $156.2M | $179.1M | $164.6M | $209.0M | $185.2M |
| Long-term debt | $1.19B | $980.2M | $959.9M | $907.1M | $812.9M | $693.8M | $777.3M | $888.0M | $1.58B | $1.70B |
| Total liabilities | $1.66B | $1.46B | $1.42B | $1.38B | $1.23B | $1.10B | $1.20B | $1.27B | $1.95B | $2.11B |
| Retained earnings | $994.1M | $891.2M | $771.4M | $680.7M | $614.3M | $517.5M | $440.3M | $344.5M | $176.1M | $109.1M |
| Total equity | $1.75B | $1.62B | $1.52B | $1.42B | $1.35B | $1.27B | $1.15B | $1.06B | $893.4M | $725.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $196.1M | $205.2M | $180.2M | $116.4M | $156.7M | $181.3M | $165.4M | $167.3M | $149.4M | $105.5M |
| Depreciation and amortisation | $130.7M | $111.0M | $98.8M | $92.0M | $81.4M | $79.3M | $77.9M | $89.0M | $102.8M | $90.5M |
| Stock-based compensation | $23.2M | $24.8M | $23.3M | $21.0M | $16.2M | $9.2M | $9.3M | $10.5M | $14.7M | $8.4M |
| Capital expenditure | $91.0M | $105.4M | $119.9M | $74.7M | $53.5M | $46.8M | $48.2M | $44.9M | $47.3M | $58.6M |
| Investing cash flow | -$270.7M | -$195.4M | -$163.4M | -$200.4M | -$271.0M | -$56.6M | -$58.9M | $536.7M | -$47.9M | -$63.3M |
| Financing cash flow | $43.6M | $13.3M | -$18.0M | $92.5M | $82.0M | -$88.6M | -$117.9M | -$725.1M | -$111.7M | -$72.1M |
| Buybacks | $50.0M | $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 0001114483-26-000009.
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| CNMD | CONMED Corp | $1.48B | 32.7x | 5.2% |
| CBLL | Ceribell, Inc. | $948.7M | — | 36.1% |
| CV | CapsoVision, Inc | $299.8M | — | 15.3% |