INTEGRA LIFESCIENCES HOLDINGS CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data INTEGRA LIFESCIENCES HOLDINGS CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	992	1,188	1,472	1,518	1,372	1,542	1,558	1,542	1,611	1,635
Cost of revenue	349	436	571	565	521	598	587	657	728	804
Gross profit	643	753	901	953	851	945	970	885	882	832
Research and development	58.2	63.5	78	79.6	77.4	93.1	101	104	115	99
Selling, general and administrative	456	624	691	688	595	637	616	657	717	700
Operating income	115	44.8	111	93.8	151	197	239	112	28.4	-493
Interest expense	25.8	35	64.7	54	71.6	50.4	49.6	51.4	70.6	86.3
Interest income	0.02	0.26	2.8	10.8	9.3	6.74	11.9	17.2	20	18.5
Other non-operating income	0.85	1.35	8.29	9.52	4.43	19.3	12	3.72	3.94	-2.35
Pre-tax income	90.4	11.4	57.4	60.1	93.5	215	214	81.1	-18.2	-564
Income tax	15.8	-53.4	-3.4	9.9	-40.4	45.6	33.3	13.3	-11.3	-47
Income from continuing operations	74.6	64.7
Net income	74.6	64.7	60.8	50.2	134	169	181	67.7	-6.94	-516
EBITDA	188	134	222	203	193	237	279	152	70.8	-449
EPS, basic	1.00	0.84	0.73	0.59	1.58	2.00	2.18	0.85	-0.09	-6.74
EPS, diluted	0.94	0.82	0.72	0.58	1.57	1.98	2.16	0.84	-0.09	-6.74
Shares, basic (weighted)	74.4	76.9	82.9	85.6	84.7	84.7	83	80.1	77	76.7
Shares, diluted (weighted)	79.2	79.1	84	86.5	85.2	85.5	83.5	80.3	77	76.7

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	102	175	139	199	470	513	457	276	246	235
Short-term investments	0						0	32.7	27.2	28.7
Receivables	148	252	266	275	226	232	263	259	272	279
Inventory	217	296	280	316	310	317	325	390	429	493
Other current assets	27.7	99.1	90.2	67.9	69.3	91.1	31	32.6	29.7	28.1
Total current assets	495	822	775	858	1,237	1,154	1,161	1,058	1,082	1,160
Property, plant and equipment	222	269	300	337	288	312	311	340	406	444
Lease right-of-use assets				94.5	83.6	84.5	148	156	144	141
Goodwill	511	938	926	954	932	1,013	1,039	1,055	1,097	615
Intangible assets	561	1,160	1,079	1,032	989	1,146	1,127	1,068	1,208	1,135
Other non-current assets	11.7	16.1	19.9	14.6	11.3	16.4	57.2	58.2	66.5	37.9
Total assets	1,808	3,211	3,108	3,303	3,615	3,782	3,890	3,782	4,037	3,602
Accounts payable	29.1	94	76.1	113	54.6	61.8	102	92.3	82.5	95.7
Accrued liabilities	35	87.7	84.5	76.8	94.2	120	80	101	122	130
Deferred revenue	6.81	11.1	3.76	4.77	5.28	5.3	7.25	8.54	10.5	11.5
Total current liabilities	124	349	263	331	401	340	321	307	922	456
Lease liabilities				97.5	88.1	90.3	157	167	167	163
Other non-current liabilities	30.7	53.8	80	118	187	120	139	200	146	204
Total liabilities	968	2,249	1,732	1,887	2,100	2,098	2,085	2,194	2,492	2,559
Total debt			900	878	878	844	775	775	760	727
Paid-in capital	799	822	1,193	1,214	1,291	1,265	1,277	1,302	1,323	1,338
Retained earnings	220	285	348	399	532	699	879	947	940	423
Treasury stock	-123	-122	-121	-120	-235	-234	-363	-647	-691	-689
Other comprehensive income	-57.2	-23.8	-45.4	-76.4	-74.1	-45.2	10.3	-15.1	-27.6	-30.1
Shareholders' equity	840	962	1,376	1,417	1,515	1,685	1,804	1,588	1,545	1,043
Total equity	840	962	1,376	1,417	1,515	1,685	1,804	1,588	1,545	1,043
Total liabilities and equity	1,808	3,211	3,108	3,303	3,615	3,782	3,890	3,782	4,037	3,602

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	74.6	64.7	60.8	50.2	134	169	181	67.7	-6.94	-516
Depreciation and amortization	72.7	88.9	111	109	42.1	39.4	40.1	40.9	42.4	44.8
Stock-based compensation	17.3	21.6	20.8	21.3	19.6	36.2	27.7	20.1	24.4	18.6
Deferred income tax	-6.47	-67.3	-8.18	-19	-64.1	-2.76	-4.59	-11.9	-20.7	-66.3
Change in receivables	-17.5	-89.7	-17	-9.43	52.1	7.27	-33.9	4.59	7.4	-0.49
Change in inventory	-9.58	0.1	8.3	-43.3	-48.3	5.37	-29.1	-59.8	-28.1	-46.8
Change in payables	-0.41	95.3	3.59	14.7	-57.5	32.9	17.3	-20.2	-2.67	26.7
Cash from operations	116	115	200	231	204	312	264	140	129	50.4
Capital expenditures	-47.3	-43.5	-77.7	-69.5	-38.9	-48	-42.3	-66.9	-104	-81.4
Acquisitions	0.23	-1,242	26.7	-30.5
Purchases of investments						0	0	-32.7	-49	-8.5
Cash from investing	-42.6	-1,221	-49.7	-163	-68.1	-161	-58.6	-94.2	-391	-108
Stock issued	0	0	350	0	0	6.82	5.47	4.32	6.4	0.96
Share buybacks			0	0	-100	0	-125	-275	-52.5	-0.22
Cash from financing	-15.1	1,169	-181	-8.77	122	-98.2	-252	-230	238	28.3
Exchange rate effect	-4.74	10.7	-5.2	0.07	13.9	-9.48	-10.7	3.89	-6.46	18
Net change in cash	53.9	72.9	-36.1	60.1	271	43.3	-56.8	-180	-30	-11.3
Free cash flow	69.1	71	122	162	165	264	222	73.1	25	-31.1
Interest paid	57.2	32.3	58.3	48.9	47.3	43.2	42.2	44.3	64.4	81.4
Income taxes paid	4.3	14.6	10.4	16.2	29.8	49.5	35.9	23.6	22.7	17.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $16.12 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	52.5%	Gross profit / revenue.
Operating margin	4.0%	Operating income / revenue.
Pre-tax margin	-0.0%	Pre-tax income / revenue.
Net margin	-0.4%	Net income / revenue.
FCF margin	1.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	5.2%	Cash from operations / revenue.
Return on equity (ROE)	-0.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-0.2%	Net income / average total assets.
Return on invested capital (ROIC)	3.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	5.8%	Research and development expense / revenue.
SG&A / revenue	41.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.6%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	1.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	3.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-5.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-5.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-0.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-1,837.0%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-733.5%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-61.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-42.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-24.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-224.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-32.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-16.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-7.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-10.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-0.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.60x	Current assets / current liabilities.
Quick ratio	1.64x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.83x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.68x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	19.8%	Total debt / total assets.
Liabilities / assets	70.7%	Total liabilities / total assets.
Net debt	$433.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	0.71x	Operating income / interest expense.
Working capital	$860.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	47.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$643.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.46x	Revenue / average total assets.
Fixed asset turnover	3.69x	Revenue / average property, plant and equipment.
Inventory turnover	1.59x	Cost of revenue / average inventory.
Days inventory	229 days	365 x average inventory / cost of revenue.
Receivables turnover	6.17x	Revenue / average receivables.
Days sales outstanding	59 days	365 x average receivables / revenue.
Days payables	39 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	250 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	69.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.09	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$21.08	Revenue / diluted weighted shares.
FCF per share	$0.33	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.09	Cash from operations / diluted weighted shares.
Book value per share	$13.35	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$8.23	Tangible book value / shares outstanding.
Cash per share	$3.51	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.25B	Share price x shares outstanding.
Enterprise value	$1.69B	Market cap + total debt - cash - short-term investments.
P/S	0.76x	Market cap / revenue.
P/B	1.20x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	48.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.7x	Market cap / cash from operations, when positive.
EV/Sales	1.02x	Enterprise value / revenue.
EV/EBIT	25.7x	Enterprise value / operating income, when both are positive.
EV/FCF	65.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.1%	Free cash flow / market cap.
Earnings yield	-0.6%	Net income / market cap (the inverse of P/E).

What was INTEGRA LIFESCIENCES HOLDINGS CORP's revenue in fiscal 2025?

INTEGRA LIFESCIENCES HOLDINGS CORP reported revenue of $1.64B for fiscal 2025, 1.5% higher than the year before.

Was INTEGRA LIFESCIENCES HOLDINGS CORP profitable in fiscal 2025?

No. It reported a net loss of $516.5M.

How much free cash flow did INTEGRA LIFESCIENCES HOLDINGS CORP generate in fiscal 2025?

Cash from operations of $50.4M minus capital expenditures of $81.4M left free cash flow of -$31.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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