Orthofix Medical Inc. OFIX
Orthofix is a global medical technology company headquartered in Lewisville, Texas. By providing medical technologies that heal musculoskeletal pathologies, Orthofix delivers exceptional experiences and life-changing solutions to patients around the world. Orthofix offers a comprehensive portfolio of spinal hardware, bone growth therapies, limb reconstruction solutions, biologics and enabling technologies, including the 7D FLASH Navigation System.
The Company was founded in Verona, Italy in 1980 and formally incorporated in 1987 in Curaçao as "Orthofix International N.V." In 2018, we completed a change in our jurisdiction of organization from Curaçao to the State of Delaware and changed our name to "Orthofix Medical Inc." As a result, we are a corporation existing under the laws of the State of Delaware.
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 | $822.3M | $799.5M | $746.6M | $460.7M | $464.5M | $406.6M | $460.0M | $453.0M | $433.8M | $409.8M |
| Cost of revenue | $256.3M | $253.6M | $260.4M | $123.5M | $114.9M | $101.9M | $100.6M | $96.6M | $93.0M | $87.9M |
| Gross profit | $566.0M | $545.9M | $486.3M | $337.2M | $349.6M | $304.7M | $359.3M | $356.4M | $340.8M | $321.9M |
| R&D | $65.8M | $73.6M | $80.2M | $49.1M | $49.6M | $39.1M | $34.6M | $33.2M | $29.7M | $28.8M |
| SG&A | $554.3M | $532.5M | $530.4M | $308.8M | $69.4M | $67.9M | $85.6M | $83.3M | $71.9M | $76.4M |
| Total operating expenses | — | — | — | — | — | — | $378.1M | $326.3M | $300.0M | $300.9M |
| Operating income | -$81.4M | -$84.6M | -$139.1M | -$13.3M | -$8.3M | -$6.3M | -$18.8M | $30.1M | $40.8M | $21.1M |
| Interest expense | $17.5M | $29.6M | $8.6M | $1.3M | $1.8M | $2.5M | $122.0K | $828.0K | $416.0K | $763.0K |
| Pre-tax income | -$90.8M | -$123.9M | -$148.7M | -$17.7M | -$13.5M | -$368.0K | -$27.0M | $22.9M | $36.4M | $19.0M |
| Income tax | $1.4M | $2.1M | $2.7M | $2.0M | $24.9M | $2.9M | $1.4M | $9.1M | $29.1M | $15.5M |
| Net income | -$92.2M | -$126.0M | -$151.4M | -$19.8M | -$38.4M | $2.5M | -$28.5M | $13.8M | $6.2M | $3.1M |
| EPS, basic | -2.33 | -3.30 | -4.12 | -0.98 | -1.95 | 0.13 | -1.51 | 0.73 | 0.34 | 0.17 |
| EPS, diluted | -2.33 | -3.30 | -4.12 | -0.98 | -1.95 | 0.13 | -1.51 | 0.72 | 0.34 | 0.17 |
| Shares, diluted (wtd. avg.) | $39.6M | $38.1M | $36.7M | $20.1M | $19.7M | $19.4M | $18.9M | $18.9M | $18.5M | $18.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $82.0M | $83.2M | $33.1M | $50.7M | $87.8M | $96.3M | $69.7M | $69.6M | $81.2M | $39.6M |
| Receivables | $135.7M | $134.7M | $128.1M | $82.9M | $78.6M | $72.4M | $86.8M | $77.7M | $63.4M | $57.8M |
| Inventory | $172.3M | $189.5M | $222.2M | $100.2M | $83.0M | $84.6M | $82.4M | $76.8M | $81.3M | $63.3M |
| Total current assets | $416.8M | $433.3M | $420.4M | $256.0M | $269.5M | $270.4M | $260.6M | $244.6M | $251.8M | $194.4M |
| Property, plant and equipment | $129.4M | $139.8M | $159.1M | $58.2M | $59.3M | $63.6M | $62.7M | $42.8M | $45.1M | $48.9M |
| Goodwill | $194.9M | $194.9M | $194.9M | $71.3M | $71.3M | $84.0M | $71.2M | $72.4M | $53.6M | $53.6M |
| Other intangibles | $72.8M | $98.8M | $117.5M | $47.4M | $52.7M | $60.5M | $54.1M | $51.9M | $10.5M | $7.5M |
| Total assets | $850.6M | $893.3M | $925.3M | $458.6M | $476.6M | $525.9M | $495.6M | $466.6M | $405.4M | $372.1M |
| Accounts payable | $58.4M | $48.8M | $58.4M | $27.6M | $26.5M | $23.1M | $19.9M | $18.0M | — | — |
| Short-term debt | $0 | $0 | $1.2M | — | — | — | — | — | — | — |
| Total current liabilities | $170.5M | $168.6M | $165.2M | $83.6M | $105.8M | $103.9M | $84.9M | $85.9M | $79.4M | $83.4M |
| Long-term debt | $157.4M | $157.0M | $93.1M | — | — | — | — | — | — | — |
| Total liabilities | $400.6M | $390.2M | $326.6M | $121.8M | $139.7M | $169.0M | $168.0M | $131.2M | $108.7M | $108.6M |
| Retained earnings | -$368.3M | -$276.1M | -$150.1M | $1.3M | $21.0M | $59.4M | $57.7M | $87.1M | $70.4M | $64.2M |
| Total equity | $450.0M | $503.1M | $598.7M | $336.9M | $336.9M | $356.9M | $327.6M | $335.4M | $296.6M | $263.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $33.3M | $25.8M | -$45.8M | -$11.5M | $18.5M | $74.3M | $32.0M | $49.9M | $39.0M | $59.1M |
| Depreciation and amortisation | $77.3M | $60.1M | $53.1M | $29.0M | $29.6M | $30.5M | $24.7M | $18.7M | $20.1M | $20.8M |
| Stock-based compensation | $28.7M | $32.5M | $35.7M | $18.4M | $15.4M | $16.2M | $21.5M | $18.9M | $12.6M | $16.0M |
| Capital expenditure | $34.6M | $34.9M | $62.0M | $23.2M | $17.8M | $15.5M | $19.0M | $13.6M | $14.7M | $16.4M |
| Investing cash flow | -$34.6M | -$27.6M | -$33.1M | -$24.5M | -$23.0M | -$52.3M | -$22.9M | -$61.0M | -$16.5M | -$21.9M |
| Financing cash flow | -$786.0K | $50.7M | $65.3M | -$78.0K | -$3.6M | $3.2M | -$10.7M | $3.0M | $3.5M | -$46.1M |
| Buybacks | — | — | — | — | — | — | — | — | — | $63.4M |
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 0001193125-26-191716.
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