Integer Holdings vs Penumbra
Integer Holdings is the larger business, with $1.85bn of revenue in fiscal 2025 against $1.40bn for Penumbra (1.3 times as much). Penumbra grew faster (17.5% against 8.0%). Penumbra kept more of each dollar of sales as profit: a net margin of 12.7% against 5.5%. Penumbra carries less debt relative to equity (0.0% against 69.1%).
| Latest fiscal year | Integer HoldingsITGR, 2025 | PenumbraPEN, 2025 |
|---|---|---|
| Revenue | $1.85bn | $1.40bn |
| Revenue growth | 8.0% | 17.5% |
| Net income | $103m | $178m |
| Operating margin | 11.9% | 13.5% |
| Net margin | 5.5% | 12.7% |
| Return on equity | 6.1% | 13.8% |
| Free cash flow | $105m | $175m |
| Cash | $17.2m | $187m |
| Total debt | $1.21bn | $0 |
| Debt to equity | 69.1% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $50.0m | $0 |
| Employees | 11,000 | 4,700 |
| Market value | $4.31bn | $12.69bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 60 (Moderate) | 44 (Weak) |
| Insider trades, 12 months | 3 buys, 5 sales | 0 buys, 32 sales |