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Maker of regenerative tissue products, neurosurgery devices and surgical instruments used in wound care and brain surgery.
Maker of regenerative tissue products, neurosurgery devices and surgical instruments used in wound care and brain surgery.
Sold to hospitals through a direct sales force and bought on surgeon preference and hospital contracts, with procedure volumes in neurosurgery and wound care driving reorders. Much of the portfolio was built through acquisitions of smaller device companies over many years.
Moat: narrow (regulatory licence, brand, installed base). Regulatory-approved regenerative-tissue brands with established surgeon relationships across two specialties.
Headquarters: Princeton, New Jersey · Founded: 1989 · Employees: 4,427
Size Integra LifeSciences (IART) is a United States Health Care company (Medical Specialties) with a market value of $1.04B, the 2221st largest of 3,117 United States companies the cockpit tracks. Shares closed at $13.42 on 6 Nov 2026.
Performance Over six months the shares fell 3.6%, against -13.9% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue grew 0.8% over the last twelve months (peer median +8.2%); the operating margin is 11.6% (peer median 7.2%).
Valuation It trades at 5.8× forward earnings against a peer median of 36.0× (cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.9 points below its cost of capital (7.4% WACC).
Short interest Short interest is 9.4% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.66B | $1.64B | $1.61B | $1.54B | $1.56B |
| Revenue growth | — | +2% | +4% | -1% | — |
| Gross profit | $909M | $862M | $899M | $894M | $928M |
| EBITDA | $347M | $334M | $323M | $344M | $391M |
| Net income | $13.0M | -$516M | -$6.94M | $67.7M | $181M |
| Free cash flow | $85.8M | -$31.1M | $25.0M | $73.1M | $222M |
| Capital expenditure | $68.8M | $95.6M | $114M | $66.9M | $47.1M |
| Total debt | $2.00B | $2.03B | $1.98B | $1.68B | $1.62B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Integra LifeSciences IART | $1.04B | -4% | +1% | 12% | 5.8× | 5.2% |
| Smith & Nephew SN..L | $13.1B | +5% | +2% | 17% | 14.4× | 11.1% |
| Organogenesis ORGO | n/a | -66% | n/a | n/a | n/a | n/a |
| Medtronic MDT | $130B | +35% | +10% | 20% | 16.9× | 8.6% |
| Stryker SYK | $124B | +14% | +8% | 25% | 20.4× | 10.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IART | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.1% | +1.2% | 9th lowest of 21 |
| 6-month return | -3.6% | -13.9% | 9th highest of 20 |
| Distance from 52-week high | -34.5% | -30.5% | 10th lowest of 21 |
| Revenue growth (TTM) | +0.8% | +8.2% | 5th lowest of 20 |
| Operating margin | 11.6% | 7.2% | 9th highest of 20 |
| Forward P/E | 5.8× | 36.0× | cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 5.2% | 7.7% | 3rd least demanding of 10 |
| Growth delivered (Del g) | +3.6% | +10.3% | 3rd lowest of 10 |
| Hurdle (Req g minus delivered) | +1.6 pp | -2.3 pp | 3rd most demanding of 10 |
| ROIC minus cost of capital | -1.9 pp | -0.9 pp | 10th lowest of 20 |
| EV / EBITDA | 7.9× | 28.8× | 2nd cheapest of 7 |
| Net debt / EBITDA | 4.9× | 0.5× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Integra LifeSciences IART | United States | $1.04B | -4% | +1% | 12% | 5.8× | 5.2% | +3.6% |
| Edan Instruments 300206.SZ | China | $1.05B | -19% | +14% | 17% | 18.8× | 7.7% | -2.9% |
| Ceribell CBLL | United States | $1.03B | +32% | +31% | -70% | n/a | n/a | n/a |
| L&C BIO 290650.KS | South Korea | $1.07B | -17% | +53% | 17% | 213.2× | n/a | n/a |
| INKON Life Technology 300143.SZ | China | $1.08B | -14% | +22% | 12% | 55.2× | 12.4% | +12.9% |
| Tinavi Medical Technologies 688277.SS | China | $1.08B | -30% | -2% | -59% | n/a | n/a | n/a |
| PHC 6523.T | Japan | $1.09B | +36% | +3% | 7% | 7.9× | -2.3% | +3.6% |
| SI-BONE SIBN | United States | $1.09B | +98% | +14% | -8% | n/a | n/a | n/a |
| Freenome FRNM | United States | $1.09B | n/a | n/a | n/a | n/a | n/a | n/a |
| Castle Biosciences CSTL | United States | $993M | +64% | +3% | -9% | n/a | n/a | n/a |
| Amoy Diagnostics 300685.SZ | China | $1.10B | -14% | +7% | 34% | 20.9× | 6.5% | +10.3% |
| IRadimed IRMD | United States | $1.10B | 0% | +11% | 32% | 36.0× | 19.1% | +21.5% |
| Artivion AORT | United States | $985M | -20% | +16% | 7% | 3,912.9× | n/a | n/a |
| Beijing Wandong Medical Technology 600055.SS | China | $1.11B | -27% | -11% | -33% | n/a | n/a | n/a |
| HOB Biotech 688656.SS | China | $972M | -22% | +6% | 7% | 188.9× | 40.1% | +12.4% |
| Xiangyu Medical 688626.SS | China | $969M | -31% | 0% | 4% | 62.1× | n/a | n/a |
| Eckert & Ziegler EUZ.DE | Germany | $969M | -7% | +4% | 25% | 17.0× | 7.2% | +12.1% |
| Beijing Strong Biotechnologies 300406.SZ | China | $1.13B | +1% | -4% | 36% | 18.2× | 1.5% | +9.9% |
| Beijing Hotgen Biotech 688068.SS | China | $966M | -38% | +8% | -94% | n/a | n/a | n/a |
| Mingyue Optical Lens 301101.SZ | China | $1.14B | +6% | +14% | 25% | 33.7× | 10.0% | +8.8% |
| Kuros Biosciences KURN.SW | Switzerland | $953M | +3% | +41% | 6% | 73.8× | n/a | n/a |