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LivaNova PLC

LIVN· Nasdaq· Electromedical & Electrotherapeutic Apparatus

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
12.5%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
+8.2%
We record prices for the companies we cover; LIVN is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
54.5M
Revenue
$1.4B
Free cash flow
$173.3M
Owner earnings
$137.0M

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
67.7%
Operating
14.4%
Net
-17.5%
Free cash flow
12.5%
Owner earnings
9.9%
Stock pay
2.6%

Returns

ROIC, FY2025
–
ROIC, 5 yr avg
–
ROE, FY2025
-20.2%
ROE, 5 yr avg
-6.3%

Growth (CAGR)

Revenue, 3 yr
10.8%
Revenue, 5 yr
8.2%
Revenue, 9 yr
4.1%
Diluted EPS, 3 yr
–
Diluted EPS, 5 yr
–
Diluted EPS, 9 yr
–
Free cash flow, 3 yr
58.6%
Free cash flow, 5 yr
–
Free cash flow, 9 yr
14.4%

Financial health · FY2025

Cash and investments
$635.6M
Total debt
$376.1M
Net cash
$259.5M
Debt/Equity
0.3x
Debt/FCF
2.2x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
–
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
2.3%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$1.4B

+4.1% a year over 9 years

FY2016: Revenue $964.9MFY2017: Revenue $1.0BFY2018: Revenue $1.1BFY2019: Revenue $1.1BFY2020: Revenue $934.2MFY2021: Revenue $1.0BFY2022: Revenue $1.0BFY2023: Revenue $1.2BFY2024: Revenue $1.3BFY2025: Revenue $1.4B
FY2016FY2025

Margins

Gross67.7%Operating14.4%Net-17.5%

FY2025

FY2016: Gross 58.0%, Operating 3.5%, Net -6.5%FY2017: Gross 64.4%, Operating 9.5%, Net -2.5%FY2018: Gross –, Operating -22.4%, Net -17.1%FY2019: Gross 66.8%, Operating -15.8%, Net -14.5%FY2020: Gross 63.7%, Operating -29.3%, Net -37.3%FY2021: Gross 68.2%, Operating -0.1%, Net -13.1%FY2022: Gross 69.2%, Operating -7.5%, Net -8.4%FY2023: Gross 65.5%, Operating -5.9%, Net 1.5%FY2024: Gross 68.1%, Operating 10.3%, Net 5.0%FY2025: Gross 67.7%, Operating 14.4%, Net -17.5%
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$173.3MOwner earnings$137.0M

Free cash flow +14.4% a year

FY2016: Free cash flow $51.8M, Owner earnings $32.2MFY2017: Free cash flow $58.4M, Owner earnings $39.3MFY2018: Free cash flow $83.3M, Owner earnings $56.4MFY2019: Free cash flow -$115.8M, Owner earnings -$148.4MFY2020: Free cash flow -$114.4M, Owner earnings -$149.5MFY2021: Free cash flow $77.1M, Owner earnings $36.5MFY2022: Free cash flow $43.4M, Owner earnings -$1.4MFY2023: Free cash flow $39.9M, Owner earnings $3.6MFY2024: Free cash flow $135.9M, Owner earnings $102.0MFY2025: Free cash flow $173.3M, Owner earnings $137.0M
FY2016FY2025

Diluted shares

54.5M

+11.3% over 9 years, net dilution

FY2016: Diluted shares 49.0MFY2017: Diluted shares 48.5MFY2018: Diluted shares 48.5MFY2019: Diluted shares 48.3MFY2020: Diluted shares 48.6MFY2021: Diluted shares 50.6MFY2022: Diluted shares 53.5MFY2023: Diluted shares 54.2MFY2024: Diluted shares 54.6MFY2025: Diluted shares 54.5M
FY2016FY2025

Return on invested capital

–

FY2025

FY2016: ROIC 1.5%FY2017: ROIC 3.1%FY2018: ROIC –FY2019: ROIC –FY2020: ROIC –FY2021: ROIC –FY2022: ROIC –FY2023: ROIC –FY2024: ROIC 6.1%FY2025: ROIC –
FY2016FY2025

Net cash

$259.5M

$259.5M more cash than debt

FY2016: Net cash -$83.1MFY2017: Net cash $5.8MFY2018: Net cash -$115.6MFY2019: Net cash -$272.4MFY2020: Net cash -$397.8MFY2021: Net cash -$28.8MFY2022: Net cash -$324.8MFY2023: Net cash -$319.5MFY2024: Net cash -$198.1MFY2025: Net cash $259.5M
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$964.9M$1.0B$1.1B$1.1B$934.2M$1.0B$1.0B$1.2B$1.3B$1.4B
Revenue growth–4.9%9.4%-2.1%-13.8%10.8%-1.3%12.9%8.7%10.7%
Gross margin58.0%64.4%–66.8%63.7%68.2%69.2%65.5%68.1%67.7%
Operating margin3.5%9.5%-22.4%-15.8%-29.3%-0.1%-7.5%-5.9%10.3%14.4%
Net income-$62.8M-$25.1M-$189.4M-$157.6M-$348.8M-$135.8M-$86.2M$17.5M$63.2M-$242.5M
Net margin-6.5%-2.5%-17.1%-14.5%-37.3%-13.1%-8.4%1.5%5.0%-17.5%
Diluted EPS$-1.28$-0.52$-3.91$-3.26$-7.18$-2.68$-1.61$0.32$1.16$-4.45
Return on invested capital?1.5%3.1%––––––6.1%–
Cash
Operating cash flow$90.2M$91.3M$120.5M-$91.1M-$79.4M$102.5M$69.9M$74.9M$183.0M$254.3M
Capital expenditure$38.4M$32.9M$37.2M$24.7M$35.0M$25.5M$26.5M$35.0M$47.1M$81.0M
Free cash flow$51.8M$58.4M$83.3M-$115.8M-$114.4M$77.1M$43.4M$39.9M$135.9M$173.3M
Stock-based compensation$19.6M$19.1M$26.9M$32.6M$35.1M$40.6M$44.8M$36.4M$33.9M$36.3M
Owner earnings?$32.2M$39.3M$56.4M-$148.4M-$149.5M$36.5M-$1.4M$3.6M$102.0M$137.0M
Free cash flow per share$1.06$1.20$1.72$-2.40$-2.36$1.52$0.81$0.74$2.49$3.18
Capital allocation
Dividends paid––––––––––
Share repurchases$54.5M$0$50.0M$0$0–––––
Diluted shares49.0M48.5M48.5M48.3M48.6M50.6M53.5M54.2M54.6M54.5M
Share count change?–-1.0%0.0%-0.3%0.5%4.2%5.6%1.4%0.7%0.0%
Balance sheet
Cash and equivalents$39.8M$93.6M$47.2M$61.1M$252.8M$208.0M$214.2M$266.5M$428.9M$635.6M
Short-term investments––––––––––
Total debt$122.9M$87.8M$162.8M$333.5M$650.7M$236.8M$539.0M$586.0M$627.0M$376.1M
Net debt$83.1M-$5.8M$115.6M$272.4M$397.8M$28.8M$324.8M$319.5M$198.1M-$259.5M
Shareholders' equity$1.7B$1.8B$1.5B$1.4B$1.1B$1.3B$1.2B$1.3B$1.3B$1.2B

Latest filings

All on EDGAR
2026-08-0510-QQuarterly report
2026-08-058-KEarnings release
2026-05-0610-QQuarterly report
2026-05-068-KEarnings release
2026-04-29DEF 14AProxy statement
2026-02-2510-KAnnual report
2026-02-258-KEarnings release
2025-11-0510-QQuarterly report
2025-11-058-KEarnings release
2025-08-0610-QQuarterly report

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