Is the business good?
How good a business is IART?
Integra LifeSciences Holdings Corporation earns −24% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−24%
Return on invested capital · cost of capital 9.0% · 33 points below what the capital costs: growth destroys value
- Operating margin
- −28%
Operating margin · Medical Devices median 11% · 12 months to Q1 2026
- Share count, year on year
- +0.64%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 5.9%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 11% |
| FY2021 | 13% |
| FY2022 | 15% |
| FY2023 | 7.2% |
| FY2024 | 1.8% |
| FY2025 | −30% |
Details›
- Gross margin12 months to Q1 2026
- 52%
- Operating margin12 months to Q1 2026
- −28%
- Net margin12 months to Q1 2026
- −30%
- Free cash flow margin
- 0.25%
- R&D as % of revenue
- 5.9%
- Revenue, trailing twelve months
- $1.64B
- Free cash flow, trailing twelve months
- $4.1M
- Net income, trailing twelve months
- −$496M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −24%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.