Integra Lifesciences vs LivaNova
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KIRA’s take AI analyst
I put Integra Lifesciences and LivaNova side by side, using each one’s latest annual report. Here is what stands out:
- Integra Lifesciences is the larger business, with $1.6B of revenue in fiscal 2025 against $1.4B for LivaNova.
- LivaNova grew revenue faster (10.7%, against 1.5%).
- LivaNova kept more of each dollar of sales as operating profit (14.4% operating margin, against −30.2%).
- LivaNova turned more of its sales into free cash flow (12.5% FCF margin, against −1.9%).
- LivaNova earned a higher return on the capital invested in it (12.8%, against −22.0%).
- Investors pay more for each dollar of Integra Lifesciences’s earnings: a P/E of 71.2x 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.
Integra Lifesciences
IART
1/10
Share count change
LivaNova
LIVN
8/10
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equity
Side by side
Best in the row
| Latest fiscal year | IART FY25 | LIVN FY25 |
|---|---|---|
| Size | ||
| Market cap | $951M | $4.5B |
| Revenue | $1.6B | $1.4B |
| Free cash flow | −$31.1M | $173M |
| Net income | −$517M | −$243M |
| Growth | ||
| Revenue growth | 1.5% | 10.7% |
| 5-year growth | 3.6% | 8.2% |
| Share count change | −0.4% | −0.1% |
| Profitability | ||
| Gross margin | 50.9% | 67.7% |
| Operating margin | −30.2% | 14.4% |
| Net margin | −31.6% | −17.5% |
| FCF margin | −1.9% | 12.5% |
| Return on capital | −22.0% | 12.8% |
| Return on equity | −39.9% | −19.2% |
| Balance sheet | ||
| Net debt | $463M | −$260M |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $0.2M | $0.0M |
| Valuation & quality | ||
| P/E | 71.2x | 23.9x |
| Piotroski F-score | 5 | 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.