Integra LifeSciences Holdings C — Earnings Quality Grade F
IART · Healthcare
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 62 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 1.5%, CFFO -61.1%. Cash follows revenue
Expense Quality
Inventory 14.8% vs COGS 10.3%. Normal
CapEx growth -16.4% vs revenue 1.5%. Normal
SG&A/Gross Profit = 84.1%, exceeds 70%
Gross margin 50.9%, change -3.9pp. Stable
Cash Flow Quality
CFFO/NI = -0.10. Below 1.0
FCF is negative ($-0.0B)
Accruals ratio = -15.7%. Low accruals
Cash $0.3B covers only 13% of debt $2.0B
Balance Sheet Health
Goodwill+Intangibles $1.7B = 168% of equity. Over 50%
Interest coverage = 0.2x (<2x). Financial stress
Other assets -43.1% vs revenue 1.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change -24% YoY. Normal
Manipulation Score
M-Score = -3.25 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25