ITGR
Integer Holdings Corporation
$90.10
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Mild
·
Conviction
Fair Value
Trading 1.5% below fair value
You pay
$90.10
Bear
$73.16
Fair
$91.44
Bull
$109.72
Bear
$73.16
-18.8%
$4.88 × 14x P/E
Fair
$91.44
+1.5%
$4.88 × 18x P/E
Bull
$109.72
+21.8%
$4.88 × 21x P/E
Key Value Driver
Normalized P/E multiple (18x base case)
Implied Market Multiple
18.4x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $108.00 from 15 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $91.44 per share.
Warnings
The company's reported profits differ from official accounting profits by 69%. Check what costs are being left out of the adjusted number.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples