Integer Holdings Corp

Health Care
Biotechnology: Electromedical & Electrotherapeutic Apparatus
www.integer.net

Earnings Score
Moat Score
Safety Score

Market Cap $4.64B
PE 41
Debt $1.10B
Cash $35.57M
EV $5.70B
FCF $74.24M

Earnings

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Sales & Net Margins

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Earnings	$113.55M
EBIT	$194.72M
ROE	7%
ROA	6%
FCF	$74.24M
Equity	$1.62B
Growth Stability	70%
PE	40.85
PEG	61.8
PB	2.86
P/FCF	62.48
P/S	2.76
Price/Cash	0.01
Debt/Equity	0.68
Debt/FCF	14.76
Net Margins	7%
Gross Margins	27%
Op. Margins	12%
Earnings CAGR	8%
Sales Growth YoY	3%
Sales Growth QoQ	-5%
Sales CAGR	2%
FCF CAGR	-5%
Equity CAGR	10%
Earnings Stability	0.1
Earnings Growth YoY	30%
Earnings Growth QoQ	13%

Earnings CAGR 5Y	1%
Sales CAGR 5Y	41%
FCF CAGR 5Y	-21%
Equity CAGR 5Y	7%
Earnings CAGR 3Y	14%
Sales CAGR 3Y	14%
FCF CAGR 3Y	-1%
Equity CAGR 3Y	7%
Market Cap	$4.64B
Revenue	$1.68B
Assets	$3.17B
Total Debt	$1.10B
Cash	$35.57M
Shares Outstanding	33.28M
EV	5.7B
Earnings Score	8%
Moat Score	80%
Safety Score	71%
Final Score	53%
Working Capital	507.63M
Current Ratio	3.28
Gross Profit	$452.47M
Shares Growth 3y	0%
Equity Growth QoQ	4%
Equity Growth YoY	11%

Assets & ROA

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Stockholders Equity & ROE

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Integer Holdings is a manufacturer of medical device components used by original equipment manufacturers in the medical industry. The company also develops batteries used in nonmedical applications in the energy, military, and environmental markets. The firm organizes itself into two business segments based on the product type: medical and nonmedical. The medical segment uses the firm's technologies to produce components and finished medical devices, and it generates the vast majority of revenue. The company earns more than half of its revenue in the United States.

SEC Filings

Direct access to Integer Holdings Corp (ITGR) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 27
- 10-Q Jun 28
- 10-Q Mar 29
2023
- 10-K Dec 31
- 10-Q Sep 29
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jul 01
- 10-Q Apr 01

Sector Comparison

How does Integer Holdings Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Integer Holdings Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 8%

Stability 10%

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Integer Holdings Corp Discounted Cash Flow

Fully customizable DCF calculator online for Integer Holdings Corp.

Years

Calculation mode

= $526M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$74M	$70M	$67M	$63M	$60M	$57M	$54M	$51M	$48M	$46M	$44M	$436M
DCF		$64M	$55M	$48M	$41M	$35M	$30M	$26M	$23M	$19M	$17M	$168M
Value	$526M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	01/2015	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	8%	-1%	0%	5%	14%	8%	7%	8%	5%	6%	7%
ROA	-	0%	4%	5%	7%	7%	5%	5%	4%	6%	6%
ROE	-	-1%	1%	7%	16%	8%	6%	7%	5%	6%	7%

Bad Net Margins (6.88%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	01/2015	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-55.67	37.56	16.07	7.87	7.27	5.72	8.17	22.79	16.16	14.76
Debt over Equity	0.32	2.1	2.43	1.84	0.91	0.74	0.6	0.62	0.67	0.64	0.68
Growth Stability	-	-	-	100%	100%	100%	70%	85%	74%	100%	70%

Bad Debt/FCF ratio (14.76)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.68)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (70%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	01/2015	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	16%	73%	5%	-17%	4%	-15%	14%	13%	16%	41%
Earnings YoY growth	-	-114%	-178%	1K%	152%	-43%	-20%	25%	-31%	37%	1%
Equity YoY growth	-	39%	-15%	23%	19%	9%	10%	7%	5%	7%	7%
FCF YoY growth	-	-157%	-246%	118%	20%	-4%	15%	-23%	-60%	45%	-21%