Integra Lifesciences Holdings Corp. (IART) intrinsic value & 10-year financials
Integra Lifesciences Holdings Corp. (IART) has a Graham intrinsic value of $14.44 per share. At $13.21 on Oct 17, 2026, the stock trades 9% below that value. Over the last 10 fiscal years revenue grew 5.7% a year to $1.6B, with an average return on invested capital of 3.1%.
- Graham intrinsic value
- $14.44
- Share price (Oct 17, 2026)
- $13.21
- Price vs Graham value
- 9% below
- Market cap
- $1.0B
- Revenue (FY2025)
- $1.6B
- Revenue growth (10-yr CAGR)
- 5.7%
- ROIC (10-yr avg)
- 3.1%
- Free cash flow (FY2025)
- -$31.1M
IART 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.6B | -$516.5M | -$6.74 | -$31.1M | -30.2% | -23.0% |
| FY2024 | $1.6B | -$6.9M | -$0.09 | $25.0M | 1.8% | 0.6% |
| FY2023 | $1.5B | $67.7M | $0.84 | $73.1M | 7.2% | 4.1% |
| FY2022 | $1.6B | $180.6M | $2.16 | $222.1M | 15.3% | 9.2% |
| FY2021 | $1.5B | $169.1M | $1.98 | $264.4M | 12.8% | 7.5% |
| FY2020 | $1.4B | $133.9M | $1.57 | $164.9M | 11.0% | 7.2% |
| FY2019 | $1.5B | $50.2M | $0.58 | $161.9M | 6.2% | 3.6% |
| FY2018 | $1.5B | $60.8M | $0.72 | $121.9M | 7.5% | 5.2% |
| FY2017 | $1.2B | $64.7M | $0.82 | $71.0M | 3.8% | 5.0% |
| FY2016 | $992.1M | $74.6M | $0.94 | $69.1M | 11.6% | 11.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
INTEGRA LIFESCIENCES HOLDINGS CORP has demonstrated mature, steady growth, with revenue compounding at 5.7% annually over the past decade.
INTEGRA LIFESCIENCES HOLDINGS CORP has historically struggled to out-earn its cost of capital, averaging just 1.8% ROIC.
INTEGRA LIFESCIENCES HOLDINGS CORP has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, INTEGRA LIFESCIENCES HOLDINGS CORP is modeled at 5.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $14.44 per share.