Integra Lifesciences
IART · Health Care Equipment
$11.91
3.4%Inspire Medical Systems
INSP · Health Care Equipment
$71.11
2.1%The short version
- Integra Lifesciences is the larger business, with $1.6B of revenue in fiscal 2025 against $912M for Inspire Medical Systems, about 1.8 times as much.
- Inspire Medical Systems grew revenue faster (13.6%, against 1.5%).
- Inspire Medical Systems kept more of each dollar of sales as operating profit (5.6% operating margin, against −30.2% operating margin).
- Inspire Medical Systems turned more of its sales into free cash flow (8.6% FCF margin, against −1.9% FCF margin).
- Inspire Medical Systems earned a higher return on the capital invested in it (14.2%, against −22.0%).
- Investors pay more for each dollar of Integra Lifesciences’s earnings: a P/E of 70.1x against 15.7x for Inspire Medical Systems.
| Latest fiscal year | IART · FY25 | INSP · FY25 |
|---|---|---|
| Size | ||
| Market cap | $936M | $2.1B |
| Revenue | $1.6B | $912M |
| Free cash flow | −$31.1M | $78.5M |
| Net income | −$517M | $145M |
| Growth | ||
| Revenue growth | 1.5% | 13.6% |
| 5-year growth | 3.6% | 51.2% |
| Share count change | −0.4% | −2.6% |
| Profitability | ||
| Gross margin | 50.9% | 85.4% |
| Operating margin | −30.2% | 5.6% |
| Net margin | −31.6% | 16.0% |
| FCF margin | −1.9% | 8.6% |
| Return on capital | −22.0% | 14.2% |
| Return on equity | −39.9% | 19.8% |
| Balance sheet | ||
| Net debt | $463M | −$308M |
| Net debt / EBITDA | — | −4.8x |
| Dividends and buybacks | $0.2M | $175M |
| Valuation & quality | ||
| P/E | 70.1x | 15.7x |
| Piotroski F-score | 5 | 5 |
FY16
IART $992M
INSP $16.4M
FY17
IART $1.2B
INSP $28.6M
FY18
IART $1.5B
INSP $50.6M
FY19
IART $1.5B
INSP $82.0M
FY20
IART $1.4B
INSP $115M
FY21
IART $1.5B
INSP $233M
FY22
IART $1.6B
INSP $408M
FY23
IART $1.5B
INSP $625M
FY24
IART $1.6B
INSP $803M
FY25
IART $1.6B
INSP $912M
IART
INSP
FY16
IART 11.6%
INSP −105.0%
FY17
IART 3.8%
INSP −56.0%
FY18
IART 7.5%
INSP −40.3%
FY19
IART 6.2%
INSP −42.5%
FY20
IART 11.0%
INSP −48.7%
FY21
IART 12.8%
INSP −17.1%
FY22
IART 15.3%
INSP −11.7%
FY23
IART 7.2%
INSP −6.5%
FY24
IART 1.8%
INSP 4.5%
FY25
IART −30.2%
INSP 5.6%
IART
INSP
FY16
IART $69.1M
INSP −$18.3M
FY17
IART $71.0M
INSP −$16.2M
FY18
IART $122M
INSP −$18.9M
FY19
IART $162M
INSP −$35.6M
FY20
IART $165M
INSP −$55.5M
FY21
IART $264M
INSP −$24.8M
FY22
IART $222M
INSP $2.5M
FY23
IART $73.1M
INSP $1.0M
FY24
IART $25.0M
INSP $91.1M
FY25
IART −$31.1M
INSP $78.5M
IART
INSP
FY16
IART 11.5%
INSP —
FY17
IART 5.9%
INSP —
FY18
IART 7.6%
INSP —
FY19
IART 3.7%
INSP —
FY20
IART 7.5%
INSP —
FY21
IART 7.9%
INSP −106.8%
FY22
IART 9.8%
INSP —
FY23
IART 4.5%
INSP −40.6%
FY24
IART 1.1%
INSP 18.5%
FY25
IART −22.0%
INSP 14.2%
IART
INSP
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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.