Latest Ratios: P/E Ratio -2.7x · EV/EBITDA 14.6x · ROE -39.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.4B | $953M | $1.7B | $3.5B | $4.7B | $5.7B | $5.5B | $5.0B | $3.8B | $3.8B | $3.4B |
| Enterprise Value | $3.2B | $2.8B | $3.5B | $4.9B | $5.9B | $6.9B | $6.7B | $6.3B | $5.0B | $5.5B | $4.0B |
| P/E Ratio → | -2.70 | — | — | 51.85 | 25.96 | 33.83 | 41.35 | 100.48 | 62.64 | 58.37 | 45.63 |
| P/S Ratio | 0.87 | 0.58 | 1.08 | 2.27 | 3.01 | 3.71 | 4.03 | 3.32 | 2.59 | 3.19 | 3.42 |
| P/B Ratio | 1.34 | 0.91 | 1.13 | 2.20 | 2.60 | 3.40 | 3.65 | 3.56 | 2.77 | 3.94 | 4.05 |
| P/FCF | — | — | 69.96 | 47.87 | 21.54 | 21.66 | 39.54 | 52.02 | 31.23 | 53.30 | 49.18 |
| P/OCF | 28.08 | 18.92 | 13.50 | 25.00 | 17.71 | 18.33 | 27.14 | 21.78 | 19.07 | 33.06 | 29.18 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.68 | 2.16 | 3.18 | 3.76 | 4.46 | 4.90 | 4.15 | 3.41 | 4.59 | 3.99 |
| EV / EBITDA | 14.65 | 12.54 | 20.63 | 20.86 | 16.27 | 21.44 | 24.85 | 31.00 | 22.16 | 40.78 | 21.06 |
| EV / EBIT | 47.03 | — | 66.51 | 37.03 | 22.23 | 28.35 | 45.10 | 55.23 | 40.08 | 117.70 | 34.08 |
| EV / FCF | — | — | 139.59 | 67.09 | 26.94 | 26.02 | 48.01 | 65.01 | 41.20 | 76.76 | 57.33 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 51.7% | 51.7% | 54.8% | 57.4% | 62.3% | 61.2% | 62.0% | 62.8% | 61.2% | 63.3% | 64.8% |
| Operating Margin | 4.2% | 4.2% | 1.8% | 7.2% | 15.3% | 12.8% | 11.0% | 6.2% | 7.5% | 3.8% | 11.6% |
| Net Profit Margin | -31.6% | -31.6% | -0.4% | 4.4% | 11.6% | 11.0% | 9.8% | 3.3% | 4.1% | 5.4% | 7.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -39.9% | -39.9% | -0.4% | 4.0% | 10.3% | 10.6% | 9.1% | 3.6% | 5.2% | 7.2% | 9.4% |
| ROA | -13.5% | -13.5% | -0.2% | 1.8% | 4.7% | 4.6% | 3.9% | 1.6% | 1.9% | 2.6% | 4.2% |
| ROIC | 1.7% | 1.7% | 0.7% | 2.8% | 6.2% | 5.3% | 4.2% | 2.7% | 3.2% | 1.7% | 6.1% |
| ROCE | 2.2% | 2.2% | 0.9% | 3.2% | 6.8% | 5.9% | 4.9% | 3.2% | 3.9% | 2.0% | 6.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.95 | 1.95 | 1.28 | 1.06 | 0.90 | 0.99 | 1.09 | 1.03 | 0.98 | 1.91 | 0.79 |
| Debt / EBITDA | 9.27 | 9.27 | 11.75 | 7.15 | 4.53 | 5.19 | 6.12 | 7.17 | 5.97 | 13.77 | 3.54 |
| Net Debt / Equity | — | 1.72 | 1.12 | 0.89 | 0.65 | 0.68 | 0.78 | 0.89 | 0.88 | 1.73 | 0.67 |
| Net Debt / EBITDA | 8.20 | 8.20 | 10.29 | 5.98 | 3.26 | 3.59 | 4.38 | 6.19 | 5.36 | 12.46 | 2.99 |
| Debt / FCF | — | — | 69.63 | 19.23 | 5.40 | 4.36 | 8.47 | 12.99 | 9.97 | 23.45 | 8.15 |
| Interest Coverage | -5.53 | -5.53 | 0.74 | 2.58 | 5.31 | 4.82 | 2.08 | 2.11 | 1.94 | 1.32 | 4.50 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.54 | 2.54 | 1.17 | 3.45 | 3.62 | 3.39 | 3.09 | 2.59 | 2.95 | 2.36 | 4.01 |
| Quick Ratio | 1.46 | 1.46 | 0.71 | 2.18 | 2.61 | 2.46 | 2.31 | 1.64 | 1.88 | 1.51 | 2.25 |
| Cash Ratio | 0.58 | 0.58 | 0.30 | 1.01 | 1.42 | 1.51 | 1.17 | 0.60 | 0.53 | 0.50 | 0.83 |
| Asset Turnover | — | 0.45 | 0.40 | 0.41 | 0.40 | 0.41 | 0.38 | 0.46 | 0.47 | 0.37 | 0.55 |
| Inventory Turnover | 1.60 | 1.60 | 1.70 | 1.69 | 1.81 | 1.88 | 1.68 | 1.79 | 2.04 | 1.47 | 1.61 |
| Days Sales Outstanding | — | 62.24 | 61.73 | 61.40 | 61.74 | 54.86 | 60.01 | 66.21 | 65.87 | 77.35 | 54.52 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 1.9% | 3.9% | 3.0% | 2.4% | 1.0% | 1.6% | 1.7% | 2.2% |
| FCF Yield | — | — | 1.4% | 2.1% | 4.6% | 4.6% | 2.5% | 1.9% | 3.2% | 1.9% | 2.0% |
| Buyback Yield | 0.0% | 0.0% | 3.0% | 7.9% | 2.7% | 0.0% | 1.8% | 0.0% | 0.0% | 0.2% | 0.1% |
| Total Shareholder Yield | 0.0% | 0.0% | 3.0% | 7.9% | 2.7% | 0.0% | 1.8% | 0.0% | 0.0% | 0.2% | 0.1% |
| Shares Outstanding | — | $77M | $77M | $80M | $84M | $85M | $85M | $86M | $84M | $79M | $79M |
Manufacturing and regulatory remediation
Based on reported financial data, Integra trades at a forward P/E of 7.66, which appears to reflect a significant market discount compared to peers like Hologic or LeMaitre, suggesting investors are pricing in substantial execution risk rather than long-term growth potential for the regenerative technology platform.
The current valuation multiples, including a P/S of 0.89, indicate that the market is heavily discounting the company's future earnings power due to persistent operational volatility. This pricing suggests that the market may be skeptical of management's ability to restore margins to historical levels, effectively treating the stock as a distressed asset rather than a growth-oriented medical device firm.
According to recent quarterly filings, the company's gross margin has experienced significant compression, falling to 49.5% in 2025Q4, which highlights the difficulty in maintaining profitability amidst rising production costs and the ongoing remediation of manufacturing facilities that were previously central to the firm's margin profile.
The collapse in net margins to negative territory suggests that the company's cost structure is currently misaligned with its revenue generation capabilities. Investors should monitor whether the recent operating margin volatility is a temporary consequence of site-specific remediation or a more permanent shift in the competitive landscape for wound care products.
As reported in financial statements, ROIC has shown extreme volatility, swinging from 14.8% in 2025Q4 to -12.5% in 2025Q2, which indicates that the company is struggling to generate consistent returns on its invested capital while simultaneously absorbing the heavy costs of manufacturing quality control and site-specific production halts.
The inability to maintain a stable ROIC suggests that the company's capital allocation strategy is currently being dictated by defensive operational needs rather than value-accretive growth. This trend warrants further investigation into whether the firm's core regenerative technology platform can still deliver superior returns once the current manufacturing remediation cycle concludes.
Based on the provided quarterly data, the cash conversion cycle has remained highly erratic, peaking at 264 days in 2025Q3, which suggests that the company is facing significant challenges in managing its inventory and receivables effectively during periods of heightened regulatory and operational scrutiny.
The wide fluctuations in the cash conversion cycle indicate that the company's working capital management is currently compromised by supply chain disruptions and inventory obsolescence risks. This inefficiency likely places additional pressure on liquidity, forcing the firm to rely more heavily on external financing to bridge the gap between production and cash collection.
As evidenced by the company's recent net losses, the P/E ratio is a fundamentally flawed metric for assessing Integra's current business model, as it obscures the underlying cash-generative potential of the Codman neurosurgery franchise by focusing on GAAP earnings distorted by non-recurring impairment and remediation charges.
Analysts should instead prioritize EV/EBITDA or free cash flow yield to better capture the operational reality of the business, as these metrics are less sensitive to the accounting noise generated by recent manufacturing write-downs. Relying on P/E in this context may lead to an inaccurate assessment of the company's true value, as it fails to account for the significant gap between reported net income and actual cash flow.
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Quick answers to the most common questions about buying IART stock.
Integra LifeSciences Holdings Corporation's current P/E ratio is -2.7x. The historical average is 41.2x.
Integra LifeSciences Holdings Corporation's current EV/EBITDA is 14.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.9x.
Integra LifeSciences Holdings Corporation's return on equity (ROE) is -39.9%. The historical average is 0.5%.
Based on historical data, Integra LifeSciences Holdings Corporation is trading at a P/E of -2.7x. Compare with industry peers and growth rates for a complete picture.
Integra LifeSciences Holdings Corporation has 51.7% gross margin and 4.2% operating margin.
Integra LifeSciences Holdings Corporation's Debt/EBITDA ratio is 9.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.