Integer
ITGR · Health Care Equipment
$126.54
0.0%LivaNova
LIVN · Health Care Equipment
$80.90
0.5%The short version
- 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% operating margin).
- LivaNova turned more of its sales into free cash flow (12.5% FCF margin, against 5.7% FCF margin).
- 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.
| 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 |
FY16
ITGR $1.1B
LIVN $965M
FY17
ITGR $1.1B
LIVN $1.0B
FY18
ITGR $1.2B
LIVN $1.1B
FY19
ITGR $1.3B
LIVN $1.1B
FY20
ITGR $1.1B
LIVN $934M
FY21
ITGR $1.2B
LIVN $1.0B
FY22
ITGR $1.3B
LIVN $1.0B
FY23
ITGR $1.6B
LIVN $1.2B
FY24
ITGR $1.7B
LIVN $1.3B
FY25
ITGR $1.9B
LIVN $1.4B
ITGR
LIVN
FY16
ITGR 8.6%
LIVN 3.5%
FY17
ITGR 11.1%
LIVN 9.5%
FY18
ITGR 12.8%
LIVN −22.4%
FY19
ITGR 12.5%
LIVN −15.8%
FY20
ITGR 11.2%
LIVN −29.3%
FY21
ITGR 11.1%
LIVN −0.1%
FY22
ITGR 8.5%
LIVN −7.5%
FY23
ITGR 10.5%
LIVN −5.9%
FY24
ITGR 12.1%
LIVN 10.3%
FY25
ITGR 11.9%
LIVN 14.4%
ITGR
LIVN
FY16
ITGR $46.9M
LIVN $51.8M
FY17
ITGR $102M
LIVN $58.4M
FY18
ITGR $122M
LIVN $83.3M
FY19
ITGR $117M
LIVN −$116M
FY20
ITGR $135M
LIVN −$114M
FY21
ITGR $103M
LIVN $77.1M
FY22
ITGR $41.7M
LIVN $43.4M
FY23
ITGR $60.3M
LIVN $39.9M
FY24
ITGR $99.9M
LIVN $136M
FY25
ITGR $105M
LIVN $173M
ITGR
LIVN
FY16
ITGR 3.4%
LIVN 2.7%
FY17
ITGR 5.2%
LIVN —
FY18
ITGR 5.4%
LIVN —
FY19
ITGR 7.0%
LIVN −8.3%
FY20
ITGR 5.5%
LIVN −13.7%
FY21
ITGR 6.1%
LIVN −0.0%
FY22
ITGR 4.4%
LIVN −4.3%
FY23
ITGR 5.8%
LIVN −3.5%
FY24
ITGR 6.8%
LIVN 5.9%
FY25
ITGR 6.6%
LIVN 12.8%
ITGR
LIVN
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