Integra Lifesciences vs Integer
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The short version
- Integer is the larger business, with $1.9B of revenue in fiscal 2025 against $1.6B for Integra Lifesciences.
- Integer grew revenue faster (8.0%, against 1.5%).
- Integer kept more of each dollar of sales as operating profit (11.9% operating margin, against −30.2%).
- Integer turned more of its sales into free cash flow (5.7% FCF margin, against −1.9%).
- Integer earned a higher return on the capital invested in it (6.6%, against −22.0%).
- Investors pay more for each dollar of Integra Lifesciences’s earnings: a P/E of 70.1x against 34.7x for Integer.
| Latest fiscal year | IART · FY25 | ITGR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $936M | $4.3B |
| Revenue | $1.6B | $1.9B |
| Free cash flow | −$31.1M | $105M |
| Net income | −$517M | $103M |
| Growth | ||
| Revenue growth | 1.5% | 8.0% |
| 5-year growth | 3.6% | 11.6% |
| Share count change | −0.4% | −0.2% |
| Profitability | ||
| Gross margin | 50.9% | 27.0% |
| Operating margin | −30.2% | 11.9% |
| Net margin | −31.6% | 5.6% |
| FCF margin | −1.9% | 5.7% |
| Return on capital | −22.0% | 6.6% |
| Return on equity | −39.9% | 6.1% |
| Balance sheet | ||
| Net debt | $463M | $1.2B |
| Net debt / EBITDA | — | 3.4x |
| Dividends and buybacks | $0.2M | $50.0M |
| Valuation & quality | ||
| P/E | 70.1x | 34.7x |
| Piotroski F-score | 5 | 7 |
Revenue
FY16
IART $992M
ITGR $1.1B
FY17
IART $1.2B
ITGR $1.1B
FY18
IART $1.5B
ITGR $1.2B
FY19
IART $1.5B
ITGR $1.3B
FY20
IART $1.4B
ITGR $1.1B
FY21
IART $1.5B
ITGR $1.2B
FY22
IART $1.6B
ITGR $1.3B
FY23
IART $1.5B
ITGR $1.6B
FY24
IART $1.6B
ITGR $1.7B
FY25
IART $1.6B
ITGR $1.9B
IART
ITGR
Operating margin
FY16
IART 11.6%
ITGR 8.6%
FY17
IART 3.8%
ITGR 11.1%
FY18
IART 7.5%
ITGR 12.8%
FY19
IART 6.2%
ITGR 12.5%
FY20
IART 11.0%
ITGR 11.2%
FY21
IART 12.8%
ITGR 11.1%
FY22
IART 15.3%
ITGR 8.5%
FY23
IART 7.2%
ITGR 10.5%
FY24
IART 1.8%
ITGR 12.1%
FY25
IART −30.2%
ITGR 11.9%
IART
ITGR
Free cash flow
FY16
IART $69.1M
ITGR $46.9M
FY17
IART $71.0M
ITGR $102M
FY18
IART $122M
ITGR $122M
FY19
IART $162M
ITGR $117M
FY20
IART $165M
ITGR $135M
FY21
IART $264M
ITGR $103M
FY22
IART $222M
ITGR $41.7M
FY23
IART $73.1M
ITGR $60.3M
FY24
IART $25.0M
ITGR $99.9M
FY25
IART −$31.1M
ITGR $105M
IART
ITGR
Return on capital
FY16
IART 11.5%
ITGR 3.4%
FY17
IART 5.9%
ITGR 5.2%
FY18
IART 7.6%
ITGR 5.4%
FY19
IART 3.7%
ITGR 7.0%
FY20
IART 7.5%
ITGR 5.5%
FY21
IART 7.9%
ITGR 6.1%
FY22
IART 9.8%
ITGR 4.4%
FY23
IART 4.5%
ITGR 5.8%
FY24
IART 1.1%
ITGR 6.8%
FY25
IART −22.0%
ITGR 6.6%
IART
ITGR
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.