Integer vs LivaNova
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KIRA’s take AI analyst
I put Integer and LivaNova side by side, using each one’s latest annual report. Here is what stands out:
- Integer is the larger business, with $1.9B of revenue in fiscal 2025 against $1.4B for LivaNova.
- LivaNova grew revenue faster (10.7%, against 8.0%).
- LivaNova kept more of each dollar of sales as operating profit (14.4% operating margin, against 11.9%).
- LivaNova turned more of its sales into free cash flow (12.5% FCF margin, against 5.7%).
- LivaNova earned a higher return on the capital invested in it (12.8%, against 6.6%).
- Investors pay more for each dollar of Integer’s earnings: a P/E of 34.7x against 23.9x for LivaNova.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Integer
ITGR
5/10
5-year growthNet marginReturn on equityPiotroski F-scoreShare count change
LivaNova
LIVN
5/10
Revenue growthGross marginOperating marginFCF marginReturn on capital
Side by side
Best in the row
| Latest fiscal year | ITGR FY25 | LIVN FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.3B | $4.6B |
| Revenue | $1.9B | $1.4B |
| Free cash flow | $105M | $173M |
| Net income | $103M | −$243M |
| Growth | ||
| Revenue growth | 8.0% | 10.7% |
| 5-year growth | 11.6% | 8.2% |
| Share count change | −0.2% | −0.1% |
| Profitability | ||
| Gross margin | 27.0% | 67.7% |
| Operating margin | 11.9% | 14.4% |
| Net margin | 5.6% | −17.5% |
| FCF margin | 5.7% | 12.5% |
| Return on capital | 6.6% | 12.8% |
| Return on equity | 6.1% | −19.2% |
| Balance sheet | ||
| Net debt | $1.2B | −$260M |
| Net debt / EBITDA | 3.4x | — |
| Dividends and buybacks | $50.0M | $0.0M |
| Valuation & quality | ||
| P/E | 34.7x | 23.9x |
| Piotroski F-score | 7 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.