Is the business good?
How good a business is LIVN?
LivaNova PLC earns 16% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
16%
Return on invested capital · cost of capital 9.0% · 6.9 points above what the capital costs: growth creates value
- Operating margin
- 13%
Operating margin · Medical Devices median 11% · 12 months to Q1 2026
- Cash conversion
- 1.50×
Cash conversion · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +2.8%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −29% |
| FY2021 | −0.08% |
| FY2022 | −7.5% |
| FY2023 | −5.9% |
| FY2024 | 10% |
| FY2025 | 14% |
Details›
- Gross margin12 months to Q1 2026
- 67%
- Operating margin12 months to Q1 2026
- 13%
- Net margin12 months to Q1 2026
- 7.5%
- Free cash flow margin
- 11%
- R&D as % of revenue
- 14%
- Revenue, trailing twelve months
- $1.43B
- Free cash flow, trailing twelve months
- $161M
- Net income, trailing twelve months
- $107M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 16%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.