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Artivion, Inc. ( Artivion, the Company, we, or us ), is a leader in the manufacturing, processing, and distribution of medical devices and implantable human tissues used in cardiac and vascular surgical procedures for patients with aortic disease. We have four major product families: aortic stent grafts, On-X mechanical heart valves and related surgical products ( On-X products), surgi…
Operating margin is thin at 7.65%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 13.6%, still solid. Margins contracted 2.4pp, which offsets some of the top-line progress.
Free cash flow declined 92% versus the prior year, cash generation momentum has weakened. Net debt of $193M represents 229.7x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$459M
▲ +13.6% YoY
Net Income (TTM)
$12M
▲ +173.1% YoY
Op. Margin
8.15%
▼ -2.4pp YoY
ROIC
4.53%
▼ -0.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$15M
▼ -92.4% YoY
Op. Cash Flow (TTM)
$58M
▲ +79.3% YoY
Net Debt
$202M
Cash & Equiv.
$56M
5Y CAGR: +11.8%
5Y CAGR: -30.1%
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