Integra LifeSciences Holdings (IART)

Cash conversion cycle

		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
Cash conversion cycle	days	144.07	146.48	143.14	139.47	141.86	136.39	133.58	128.86	127.45	124.40	127.06	123.22	126.03	153.90	154.22	171.53	173.71	141.08	141.02	129.85

December 31, 2024 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= 101.28 + 62.27 – 19.47
= 144.07

The cash conversion cycle of Integra LifeSciences Holdings has shown some fluctuations over the past few years, with values ranging from 123.22 days to 173.71 days. Generally, a lower cash conversion cycle is preferred as it indicates that the company is able to efficiently convert its investments in inventory and other resources into cash flow from sales.

From the data provided, we observe that the cash conversion cycle decreased from 173.71 days in December 2020 to 123.22 days in March 2021, which indicates a significant improvement in the company's efficiency in managing its working capital. This improvement continued through the following periods, with the cycle remaining relatively stable around the 120-140 days range.

Overall, the trend in the cash conversion cycle of Integra LifeSciences Holdings shows a positive sign of effective working capital management and liquidity performance, as the company has been able to reduce the time it takes to convert its investment in resources into cash generated from sales. This efficiency can lead to improved cash flow and profitability for the company in the long run.