Integer Holdings Corporation (ITGR) 株式分析

企業概要

Integer Holdings Corporation is a medical device contract development and manufacturing organization that provides products and services for interventional cardiology, structural heart, heart failure, peripheral vascular, and neuro applications across the United States, Costa Rica, Puerto Rico, Ireland, and international markets. The company operates within the Healthcare sector, specifically the Medical Devices industry, which implies a focus on the creation of essential tools for diagnostic and therapeutic procedures. As of the latest data, the enterprise possesses a market capitalization of $3.04B and reported annual revenue (TTM) of $1.85B, employing a workforce of 11000 individuals. These financial figures indicate that Integer Holdings Corporation is a significant player with substantial operational scale, suggesting a mature business model capable of sustaining operations across multiple geographic regions while serving a critical niche in the global medical technology landscape.

財務健全性

The company reported revenue (TTM) of $1.85B with a net income (TTM) of $102.83M and EBITDA of $377.19M, revealing a significant gap between total revenue and net income that highlights a substantial cost structure involving operating expenses, taxes, and interest. Free cash flow stands at $76.88M, which indicates that the company generates positive cash flow after capital expenditures, providing a degree of financial flexibility to fund operations or strategic initiatives. The gross margin is 27.4%, the operating margin is 12.8%, and the profit margin is 5.5%; these figures collectively suggest that while the manufacturing and operational costs are managed, the final profitability per dollar of revenue is relatively modest, typical for capital-intensive manufacturing sectors. Regarding liquidity and leverage, the company holds $17.16M in cash against $1.32B in debt, resulting in a debt-to-equity ratio of 75.44, which indicates a highly leveraged balance sheet where debt obligations significantly exceed equity capital. The current ratio is 3.32, demonstrating a strong ability to meet short-term liabilities with short-term assets, suggesting robust short-term liquidity despite the high debt load. Furthermore, the Return on Equity is 6.1% and the Return on Assets is 4.7%, metrics that reveal management effectiveness in generating returns relative to the shareholders' investment and the total asset base, respectively.

バリュエーション評価

The trailing P/E ratio (TTM) is 29.99 while the forward P/E is 12.00, implying that the market expects a significant expansion in earnings that would justify the high current multiple relative to future expectations. The price-to-book ratio is 1.70, indicating that the market values the company at a premium of 70% over its net book value, reflecting confidence in intangible assets or future growth potential not captured on the balance sheet. Alternative valuation metrics include a price-to-sales ratio of 1.64 and an EV/EBITDA of 11.35, suggesting that the company is valued reasonably relative to its sales volume and enterprise earnings power compared to industry peers. The stock has a 52-week high of $127.56 and a 52-week low of $62.00, placing the current trading price within the historical range and indicating recent volatility relative to the full year's trading history. The beta is 0.71, which signifies that the stock price exhibits lower volatility than the broader market, moving less aggressively than the S&P 500 during periods of market fluctuation.

Growth & Income

Revenue growth (YoY) is 5.0% and earnings growth (YoY) is 52.9%, demonstrating that earnings are growing substantially faster than revenue, which implies significant operational leverage or cost efficiencies being realized in the current period. As a non-dividend payer, the company maintains a dividend yield of N/A and a payout ratio of 0.0%, indicating that all earnings are retained and reinvested into the business for growth rather than distributed to shareholders. The overall growth and income profile for Integer Holdings Corporation is characterized by robust earnings expansion without reliance on dividend income, making it suitable for investors seeking capital appreciation through operational performance rather than yield generation.