Integra LifeSciences Holdings (IART)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Inventory turnover	3.60	3.43	3.48	3.51	3.56	3.69	3.73	3.67	3.94	4.17	4.08	4.00	4.14	2.96	2.96	2.65	2.70	3.77	3.32	3.79
Receivables turnover	5.86	6.18	5.61	6.11	5.73	5.81	5.77	5.94	5.71	6.12	6.40	6.45	6.63	6.88	6.55	6.13	5.84	6.07	7.48	5.97
Payables turnover	18.74	19.32	13.66	14.99	15.03	14.46	13.23	11.44	12.51	16.08	18.80	14.85	21.26	16.25	14.61	14.12	15.36	23.12	20.40	13.19
Working capital turnover	10.01	8.20	1.94	1.32	1.98	2.22	2.22	2.02	1.79	1.70	1.81	2.01	1.89	1.98	2.11	2.19	1.58	1.48	1.78	1.92

Integra LifeSciences Holdings' activity ratios provide insights into how efficiently the company manages its assets and operations.

1. Inventory Turnover: The inventory turnover ratio measures how many times in a period inventory is sold or used up. Integra's inventory turnover has been fluctuating over the years but has generally increased from 2020 to 2024, indicating that the company is managing its inventory more efficiently by selling goods more quickly.

2. Receivables Turnover: This ratio shows how many times a company collects its accounts receivable during a period. Integra's receivables turnover has also varied but remained relatively stable over the years. A higher turnover ratio suggests that the company is efficient in collecting outstanding payments from customers.

3. Payables Turnover: The payables turnover ratio measures how many times a company pays its suppliers during a period. Integra's payables turnover has shown fluctuations but has generally decreased from 2020 to 2024. A lower turnover ratio might indicate a longer payment period to suppliers, which can have both positive and negative implications depending on the company's specific strategies.

4. Working Capital Turnover: This ratio evaluates how efficiently a company utilizes its working capital to generate sales. Integra's working capital turnover ratio has been volatile, with a significant increase in the ratio observed in the latter half of 2024. A higher turnover ratio suggests that the company is effectively using its working capital to drive sales growth.

Overall, an analysis of Integra LifeSciences Holdings' activity ratios reveals trends in how the company manages its inventory, receivables, payables, and working capital to support its operational efficiency and growth.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Days of inventory on hand (DOH)	days	101.28	106.26	104.83	104.09	102.46	98.79	97.96	99.37	92.73	87.47	89.46	91.24	88.10	123.33	123.44	137.86	134.99	96.71	110.10	96.42
Days of sales outstanding (DSO)	days	62.27	59.11	65.03	59.74	63.68	62.83	63.21	61.40	63.88	59.63	57.01	56.56	55.09	53.04	55.76	59.51	62.49	60.16	48.82	61.11
Number of days of payables	days	19.47	18.89	26.72	24.36	24.28	25.23	27.58	31.90	29.17	22.70	19.42	24.58	17.16	22.47	24.99	25.85	23.77	15.79	17.89	27.68

Integra LifeSciences Holdings' activity ratios provide insight into the efficiency of its operations and management of working capital.

1. Days of Inventory on Hand (DOH):
- The trend in DOH indicates how long it takes for the company to convert its inventory into sales. Integra's DOH ranged from a high of 137.86 days in March 2021 to a low of 87.47 days in September 2022, showing fluctuations in inventory management efficiency. The latest DOH of 101.28 days as of December 31, 2024, suggests that the company has been able to reduce the number of days inventory is held on hand.

2. Days of Sales Outstanding (DSO):
- DSO reflects the average number of days it takes for the company to collect its accounts receivable. Integra's DSO varied from 48.82 days in June 2020 to 65.03 days in June 2024, highlighting potential challenges in collecting receivables efficiently. The DSO has seen some fluctuations over the years, with the latest figure of 62.27 days as of December 31, 2024, indicating a need for continued focus on receivables management.

3. Number of Days of Payables:
- This ratio shows the average number of days the company takes to pay its suppliers. Integra's payables days ranged from 15.79 days in September 2020 to 31.90 days in March 2023, indicating changes in the company's payment terms with suppliers. The payables days have shown some variability over time, with the latest figure of 19.47 days as of December 31, 2024, suggesting relatively stable payable terms.

In conclusion, Integra LifeSciences Holdings should continue to monitor and manage its activity ratios to optimize working capital efficiency, improve cash flow, and enhance overall operational performance.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Fixed asset turnover	3.94	3.92	4.07	4.27	4.37	4.67	4.70	4.79	4.84	5.05	5.02	4.88	4.93	5.20	5.09	4.63	4.58	4.50	4.01	4.37
Total asset turnover	0.40	0.38	0.37	0.36	0.39	0.40	0.40	0.40	0.39	0.40	0.40	0.41	0.41	0.41	0.41	0.37	0.36	0.38	0.39	0.43

Integra LifeSciences Holdings' Fixed Asset Turnover ratio measures how efficiently the company is utilizing its fixed assets to generate revenue. The ratio has shown a generally increasing trend over the years, starting at 4.37 in March 2020 and reaching a peak of 5.20 in September 2021. However, it fluctuated thereafter, with a slight decline to 4.37 by December 2023.

On the other hand, the Total Asset Turnover ratio reflects the company's overall efficiency in generating sales from all its assets. This ratio fluctuated within a relatively narrow range over the period, with a slight increase from 0.43 in March 2020 to 0.40 by December 2024.

Overall, the Fixed Asset Turnover ratio indicates that Integra LifeSciences Holdings has been effectively using its fixed assets to drive revenue growth, although there were some fluctuations in recent periods. The Total Asset Turnover ratio remained relatively stable, showing consistent efficiency in generating sales from all assets.