ITGR
Integer Holdings Corporation
$126.41
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 148.6% above fair value
You pay
$126.41
Bear
$40.68
Fair
$50.85
Bull
$61.02
Bear
$40.68
-67.8%
$2.89 × 14x P/E
Fair
$50.85
-59.8%
$2.89 × 18x P/E
Bull
$61.02
-51.7%
$2.89 × 21x P/E
Adjust Assumptions
17.6x
2.89$
Key Value Driver
Normalized P/E multiple (18x base case)
Implied Market Multiple
43.7x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (16 analysts)
$118.25
Divergence from AlphaVal
57%
Summary
Applying a 18x P/E to adjusted EPS of $2.89, the base-case value is $50.85 per share.
Warnings
Wall Street's average price target is $118.25 (from 16 analysts). Our estimate is 57% below the consensus -- consider that gap carefully.
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