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Integer Holdings Corporation (ITGR) 10-Year Financial Performance & Capital Metrics

ITGR • • Industrial / General
HealthcareMedical DevicesCardiovascular DevicesCardiac Ablation & Electrophysiology
AboutInteger Holdings Corporation operates as a medical device outsource manufacturer in the United States, Puerto Rico, Costa Rica, and internationally. It operates through Medical and Non-Medical segments. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, neurovascular, interventional oncology, electrophysiology, vascular access, infusion therapy, hemodialysis, urology, and gastroenterology procedures. It also provides cardiac rhythm management products, including implantable pacemakers, implantable cardioverter defibrillators, insertable cardiac monitors, implantable cardiac pacing and defibrillation leads, and heart failure therapies; neuromodulation products, such as implantable spinal cord stimulators; and non-rechargeable batteries, feedthroughs, device enclosures, machined components, and lead components and sub-assemblies. In addition, the company offers rechargeable batteries and chargers; and arthroscopic, laparoscopic, and general surgery devices and components, such as harmonic scalpels, shaver blades, burr shavers, radio frequency probes, biopsy probes, trocars, electrocautery components, wound dressings, GERD treatment components, and phacoemulsification needles. Further, it provides orthopedic products that include instruments used in hip, knee, and spine surgeries, as well as reamers and chisels. Additionally, the company offers customized battery power and power management systems, and battery solutions for the energy, military, and environmental markets. Furthermore, the company provides medical technologies. It serves multi-national original equipment manufacturers and their affiliated subsidiaries in the cardiac, neuromodulation, orthopedics, vascular, and advanced surgical and portable medical markets. Integer Holdings Corporation was founded in 1970 and is headquartered in Plano, Texas.Show more
  • Revenue $1.72B +10.3%
  • EBITDA $318M +22.1%
  • Net Income $120M +32.3%
  • EPS (Diluted) 3.40 +26.4%
  • Gross Margin 26.87% +1.6%
  • EBITDA Margin 18.52% +10.7%
  • Operating Margin 12.13% +15.5%
  • Net Margin 6.98% +19.9%
  • ROE 7.64% +23.8%
  • ROIC 5.98% +20.8%
  • Debt/Equity 0.68 -1.7%
  • Interest Coverage 3.69 +20.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.58%
5Y6.41%
3Y12.02%
TTM9.54%

Profit (Net Income) CAGR

10Y8.01%
5Y4.47%
3Y7.39%
TTM-23.47%

EPS CAGR

10Y4.74%
5Y4.18%
3Y6.69%
TTM-26.23%

ROCE

10Y Avg5.22%
5Y Avg5.9%
3Y Avg6.05%
Latest7.47%

Peer Comparison

Cardiac Ablation & Electrophysiology
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
BSXBoston Scientific Corporation139.56B94.1475.3117.61%13.53%11.04%1.9%0.51
MDTMedtronic plc123.61B96.4226.713.62%13.71%9.75%4.19%0.59
ITGRInteger Holdings Corporation2.9B82.7424.3410.35%4.75%4.98%3.44%0.68
ADGMAdagio Medical Holdings, Inc.18.68M0.88-0.25-10.33%-199.86%-270%0.82
VTAKCatheter Precision, Inc.3.42M2.05-0.31-4.98%-23.81%-269.53%0.15

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+800.41M1.08B1.14B1.22B1.26B1.07B1.22B1.33B1.56B1.72B
Revenue Growth %0.16%0.34%0.06%0.07%0.04%-0.15%0.14%0.09%0.17%0.1%
Cost of Goods Sold+542.29M737.82M782.07M852.35M903.08M787.74M884.11M984.63M1.14B1.26B
COGS % of Revenue0.68%0.69%0.69%0.7%0.72%0.73%0.72%0.74%0.74%0.73%
Gross Profit+258.12M337.68M354.01M362.67M355.01M285.71M336.97M346.65M411.52M461.18M
Gross Margin %0.32%0.31%0.31%0.3%0.28%0.27%0.28%0.26%0.26%0.27%
Gross Profit Growth %0.11%0.31%0.05%0.02%-0.02%-0.2%0.18%0.03%0.19%0.12%
Operating Expenses+244.97M244.76M228.36M207.11M197.38M165.09M201.26M233.97M248.2M252.95M
OpEx % of Revenue0.31%0.23%0.2%0.17%0.16%0.15%0.16%0.18%0.16%0.15%
Selling, General & Admin98.2M134.38M143.07M142.45M138.88M137.21M141.69M157.36M171.47M184.33M
SG&A % of Revenue0.12%0.12%0.13%0.12%0.11%0.13%0.12%0.12%0.11%0.11%
Research & Development52.99M47.9M48.85M48.6M46.53M48.47M51.98M59.76M61.97M53.42M
R&D % of Revenue0.07%0.04%0.04%0.04%0.04%0.05%0.04%0.04%0.04%0.03%
Other Operating Expenses93.78M62.48M36.44M16.06M11.96M-20.58M7.58M16.85M14.76M15.2M
Operating Income+13.15M92.92M125.65M155.56M157.63M120.61M135.71M112.68M163.32M208.24M
Operating Margin %0.02%0.09%0.11%0.13%0.13%0.11%0.11%0.08%0.1%0.12%
Operating Income Growth %-0.83%6.07%0.35%0.24%0.01%-0.23%0.13%-0.17%0.45%0.28%
EBITDA+57.78M165.79M206.83M237.09M235.53M199.94M217.3M203.57M260.31M317.95M
EBITDA Margin %0.07%0.15%0.18%0.2%0.19%0.19%0.18%0.15%0.17%0.19%
EBITDA Growth %-0.49%1.87%0.25%0.15%-0.01%-0.15%0.09%-0.06%0.28%0.22%
D&A (Non-Cash Add-back)44.63M72.87M81.18M81.54M77.89M79.32M81.59M90.9M96.99M109.71M
EBIT106.92M155.4M162.71M171.62M169.6M103.66M143.06M130.85M178.72M223.23M
Net Interest Income+-33.51M-68.33M-63.97M-99.31M-52.55M-38.22M-31.63M-37.27M-53.37M-56.37M
Interest Income0000000000
Interest Expense33.51M68.33M63.97M99.31M52.55M38.22M31.63M37.27M53.37M56.37M
Other Income/Expense-28.85M-64.76M-76.39M-94.44M-52.44M-34.41M-34.65M-44M-57.94M-60.67M
Pretax Income+-15.7M28.16M49.26M61.12M105.19M86.21M101.06M68.68M105.38M147.56M
Pretax Margin %-0.02%0.03%0.04%0.05%0.08%0.08%0.08%0.05%0.07%0.09%
Income Tax+-8.11M3.29M-37.83M14.08M13.97M8.95M8.04M8.93M16.24M26.51M
Effective Tax Rate %0.48%0.21%1.35%2.75%0.92%0.9%0.96%0.97%0.86%0.81%
Net Income+-7.59M5.96M66.68M167.96M96.34M77.26M96.81M66.38M90.65M119.9M
Net Margin %-0.01%0.01%0.06%0.14%0.08%0.07%0.08%0.05%0.06%0.07%
Net Income Growth %-1.14%1.78%10.19%1.52%-0.43%-0.2%0.25%-0.31%0.37%0.32%
Net Income (Continuing)-7.59M24.88M87.09M47.03M91.22M77.26M93.02M59.75M89.14M121.05M
Discontinued Operations0-18.92M-20.41M120.93M5.12M03.79M6.63M1.51M-1.16M
Minority Interest0000000000
EPS (Diluted)+-0.290.192.085.152.772.332.801.962.693.40
EPS Growth %-1.14%1.66%9.95%1.48%-0.46%-0.16%0.2%-0.3%0.37%0.26%
EPS (Basic)-0.290.192.125.232.802.352.821.972.723.60
Diluted Shares Outstanding26.36M30.97M32.06M32.6M33.04M33.11M33.26M33.36M33.76M35.65M
Basic Shares Outstanding26.19M30.78M31.4M32.14M32.63M32.84M32.99M33.13M33.32M33.6M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+574.6M517.31M531.91M416.25M415.39M412.94M452.98M558.3M617.67M671.12M
Cash & Short-Term Investments82.48M52.12M44.1M25.57M13.54M49.21M17.89M24.27M23.67M46.54M
Cash Only82.48M52.12M44.1M25.57M13.54M49.21M17.89M24.27M23.67M46.54M
Short-Term Investments0000000000
Accounts Receivable219.07M218.01M194.84M185.5M216.75M198.51M251.79M298.25M317.15M349.04M
Days Sales Outstanding99.973.9962.655.7362.8867.575.2681.7774.4174.22
Inventory252.17M225.15M176.74M190.08M167.26M149.32M155.7M208.77M229.1M247.13M
Days Inventory Outstanding169.72111.3882.4981.467.669.1964.2877.3973.0971.85
Other Current Assets00106.75M000027M47.74M28.41M
Total Non-Current Assets+2.41B2.32B2.32B1.91B1.94B1.96B2.13B2.24B2.32B2.41B
Property, Plant & Equipment379.49M372.04M370.38M231.27M288.56M299.12M347.15M400.9M501.41M579.57M
Fixed Asset Turnover2.11x2.89x3.07x5.25x4.36x3.59x3.52x3.32x3.10x2.96x
Goodwill1.01B967.33M990.24M832.34M839.62M859.44M924.7M982.19M1.01B1.02B
Intangible Assets984.26M940.06M920.39M812.34M775.78M757.22M807.81M819.89M783.15M778.29M
Long-Term Investments20.6M22.8M20.81M26.99M22.26M27.19M21.83M13.89M11.83M7.42M
Other Non-Current Assets6.02M9.04M10.47M3.56M7.04M11.55M22.03M12.97M10.59M15.54M
Total Assets+2.98B2.83B2.85B2.33B2.35B2.37B2.58B2.79B2.94B3.08B
Asset Turnover0.27x0.38x0.40x0.52x0.53x0.45x0.47x0.48x0.53x0.56x
Asset Growth %2.12%-0.05%0.01%-0.18%0.01%0.01%0.09%0.08%0.05%0.05%
Total Current Liabilities+213.84M185.22M209M164.57M179.08M156.19M159.63M223.75M220.97M227.17M
Accounts Payable84.36M77.9M64.55M57.19M64.97M51.57M76.86M110.78M118.26M101.5M
Days Payables Outstanding56.7838.5330.1324.4926.2623.931.7341.0737.7329.51
Short-Term Debt29M31.34M30.47M37.5M45.01M45.93M25.11M29.64M10.94M25.66M
Deferred Revenue (Current)001000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities52.9M39.03M64.68M10.23M17.04M10.63M7.1M17.91M16.3M20.88M
Current Ratio2.69x2.79x2.54x2.53x2.32x2.64x2.84x2.50x2.80x2.95x
Quick Ratio1.51x1.58x1.70x1.37x1.39x1.69x1.86x1.56x1.76x1.87x
Cash Conversion Cycle212.84146.84114.96112.63104.22112.79107.81118.1109.77116.56
Total Non-Current Liabilities+1.92B1.92B1.75B1.1B1.02B944.61M1.07B1.15B1.2B1.23B
Long-Term Debt1.69B1.7B1.58B888.01M777.27M693.76M812.88M907.07M959.92M980.15M
Capital Lease Obligations000037.11M37.86M67.22M72.06M82.4M101.46M
Deferred Tax Liabilities221.8M208.58M140.96M203.91M187.98M182.3M171.5M160.67M143.55M124.61M
Other Non-Current Liabilities10.81M14.69M26.3M9.7M19.16M30.69M16.29M13.38M16.77M25.36M
Total Liabilities2.13B2.11B1.95B1.27B1.2B1.1B1.23B1.38B1.42B1.46B
Total Debt+1.71B1.73B1.61B925.51M859.39M777.55M905.81M1.01B1.05B1.1B
Net Debt1.63B1.68B1.57B899.94M845.86M728.34M887.93M984.5M1.03B1.06B
Debt / Equity2.02x2.39x1.80x0.87x0.75x0.61x0.67x0.71x0.69x0.68x
Debt / EBITDA29.67x10.44x7.78x3.90x3.65x3.89x4.17x4.96x4.04x3.47x
Net Debt / EBITDA28.24x10.12x7.60x3.80x3.59x3.64x4.09x4.84x3.95x3.32x
Interest Coverage0.39x1.36x1.96x1.57x3.00x3.16x4.29x3.02x3.06x3.69x
Total Equity+850.63M725.24M893.38M1.06B1.15B1.27B1.35B1.42B1.52B1.62B
Equity Growth %0.39%-0.15%0.23%0.19%0.09%0.1%0.07%0.05%0.07%0.07%
Book Value per Share32.2723.4227.8732.5334.8838.3940.7342.4945.0045.42
Total Shareholders' Equity850.63M725.24M893.38M1.06B1.15B1.27B1.35B1.42B1.52B1.62B
Common Stock31K31K32K33K33K33K33K33K33K34K
Retained Earnings231.85M109.09M176.07M344.5M440.26M517.52M614.32M680.7M771.35M891.25M
Treasury Stock-3.1M-5.83M-4.65M-8.13M-8.81M00000
Accumulated OCI1.37M-16M52.18M33M19.99M52.69M27.19M5.33M20.22M-14.04M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+12.48M105.53M149.36M167.3M165.36M181.34M156.67M116.38M180.21M205.21M
Operating CF Margin %0.02%0.1%0.13%0.14%0.13%0.17%0.13%0.09%0.12%0.12%
Operating CF Growth %-0.85%7.46%0.42%0.12%-0.01%0.1%-0.14%-0.26%0.55%0.14%
Net Income-7.59M5.96M66.68M167.96M96.34M77.26M96.81M66.38M90.65M119.9M
Depreciation & Amortization44.63M90.52M102.8M88.99M77.89M79.32M81.37M91.99M98.84M111.03M
Stock-Based Compensation9.38M8.41M14.68M10.47M9.29M9.16M16.18M21.02M23.28M24.77M
Deferred Taxes-10.3M-7.35M-59.21M61.13M-10.29M-6.97M-10.27M-17.5M-9.49M-14.11M
Other Non-Cash Items35.67M13.99M20.99M-151.33M32.25M6.4M20.32M30.34M29.23M18.25M
Working Capital Changes-59.31M-6M3.43M-9.92M-40.13M16.16M-47.74M-75.85M-52.3M-54.62M
Change in Receivables3.68M-2.17M-34.6M9.29M-6.98M38.15M-17.54M-41.38M-21.08M-24.98M
Change in Inventory-25.75M22.17M-986K-16.09M3.72M18.44M4.7M-56.72M-30.18M-18.08M
Change in Payables3.13M-1.13M4.89M-94K1.89M-9.05M19.52M26.04M-520K-16.62M
Cash from Investing+-473.56M-63.3M-47.94M536.67M-58.86M-56.58M-271M-200.42M-163.37M-195.41M
Capital Expenditures-44.62M-58.63M-47.3M-44.91M-48.2M-51.44M-53.46M-74.73M-119.94M0
CapEx % of Revenue0.06%0.05%0.04%0.04%0.04%0.05%0.04%0.06%0.08%0.06%
Acquisitions----------
Investments----------
Other Investing-5.55M-1.65M681K1.38M4.76M82K443K639K173K-56.87M
Cash from Financing+467.91M-72.15M-111.67M-725.08M-117.93M-88.58M81.99M92.48M-18.01M13.32M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing-56.25M-79.16M-2.44M-37.02M3.24M2.75M-9.02M497K-42.54M-3.69M
Net Change in Cash----------
Free Cash Flow+-32.14M46.9M102.06M122.39M117.16M129.9M103.2M41.65M60.27M99.6M
FCF Margin %-0.04%0.04%0.09%0.1%0.09%0.12%0.08%0.03%0.04%0.06%
FCF Growth %-1.57%2.46%1.18%0.2%-0.04%0.11%-0.21%-0.6%0.45%0.65%
FCF per Share-1.221.513.183.753.553.923.101.251.792.79
FCF Conversion (FCF/Net Income)-1.64x17.70x2.24x1.00x1.72x2.35x1.62x1.75x1.99x1.71x
Interest Paid00000024.74M35.8M37.7M54.17M
Taxes Paid00000019.65M11.16M30.35M36.47M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-1.04%0.76%8.24%17.19%8.71%6.38%7.37%4.79%6.17%7.64%
Return on Invested Capital (ROIC)0.62%2.85%3.88%5.28%5.97%4.53%4.8%3.64%4.95%5.98%
Gross Margin32.25%31.4%31.16%29.85%28.22%26.62%27.6%26.04%26.45%26.87%
Net Margin-0.95%0.55%5.87%13.82%7.66%7.2%7.93%4.99%5.83%6.98%
Debt / Equity2.02x2.39x1.80x0.87x0.75x0.61x0.67x0.71x0.69x0.68x
Interest Coverage0.39x1.36x1.96x1.57x3.00x3.16x4.29x3.02x3.06x3.69x
FCF Conversion-1.64x17.70x2.24x1.00x1.72x2.35x1.62x1.75x1.99x1.71x
Revenue Growth16.38%34.37%5.63%6.95%3.55%-14.68%13.75%9.02%16.85%10.35%

Revenue by Segment

2015201620172018201920202021202220232024
Cardio And Vascular143.26M--------949.58M
Cardio And Vascular Growth----------
Cardiac Rhythm Management & Neuromodulation---------660.61M
Cardiac Rhythm Management & Neuromodulation Growth----------
Other Markets---------106.41M
Other Markets Growth----------
Medical---1.16B1.2B1.04B1.18B1.33B1.55B-
Medical Growth----3.24%-13.48%13.94%12.42%16.83%-
Non-Medical-41.68M56.97M52.98M58.41M35.46M38.45M46.55M43.33M-
Non-Medical Growth--36.68%-7.01%10.27%-39.29%8.43%21.04%-6.90%-
Cardiac Neuromodulation356.06M---------
Cardiac Neuromodulation Growth----------
Advanced Surgical, Orthopaedics, and Portable Medical243.38M---------
Advanced Surgical, Orthopaedics, and Portable Medical Growth----------
Electrochem59.45M---------
Electrochem Growth----------

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES401.38M805.74M862.29M687.26M698.47M596.8M671.5M762.13M897.43M938.67M
UNITED STATES Growth-100.74%7.02%-20.30%1.63%-14.56%12.52%13.50%17.75%4.60%
Rest Of World199.59M352.64M465.88M319.21M341.34M321.74M372.44M423.74M501.25M516.17M
Rest Of World Growth-76.68%32.11%-31.48%6.93%-5.74%15.76%13.78%18.29%2.98%
PUERTO RICO136.9M159.24M133.75M146.5M154.64M96.05M110.16M114.08M108.42M137.06M
PUERTO RICO Growth-16.32%-16.01%9.53%5.56%-37.89%14.69%3.55%-4.96%26.41%
BELGIUM62.55M69.15M--------
BELGIUM Growth-10.56%--------

Frequently Asked Questions

Valuation & Price

Integer Holdings Corporation (ITGR) has a price-to-earnings (P/E) ratio of 24.3x. This is roughly in line with market averages.

Growth & Financials

Integer Holdings Corporation (ITGR) reported $1.83B in revenue for fiscal year 2024. This represents a 222% increase from $568.8M in 2011.

Integer Holdings Corporation (ITGR) grew revenue by 10.3% over the past year. This is steady growth.

Yes, Integer Holdings Corporation (ITGR) is profitable, generating $86.9M in net income for fiscal year 2024 (7.0% net margin).

Dividend & Returns

Integer Holdings Corporation (ITGR) has a return on equity (ROE) of 7.6%. This is below average, suggesting room for improvement.

Integer Holdings Corporation (ITGR) generated $165.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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