Taking everything into account, LIVN scores 5 out of 10 in our fundamental rating. LIVN was compared to 184 industry peers in the Health Care Equipment & Supplies industry. LIVN has an average financial health and profitability rating. LIVN is not valued too expensively and it also shows a decent growth rate.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

In the past year LIVN was profitable.
In the past year LIVN had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: LIVN reported negative net income in multiple years.
Of the past 5 years LIVN 4 years had a positive operating cash flow.

1.2 Ratios

With a decent Return On Assets value of -8.48%, LIVN is doing good in the industry, outperforming 64.13% of the companies in the same industry.
LIVN's Return On Equity of -18.76% is fine compared to the rest of the industry. LIVN outperforms 61.41% of its industry peers.
LIVN's Return On Invested Capital of 8.38% is amongst the best of the industry. LIVN outperforms 85.87% of its industry peers.
LIVN had an Average Return On Invested Capital over the past 3 years of 3.45%. This is significantly below the industry average of 8.81%.
The last Return On Invested Capital (8.38%) for LIVN is above the 3 year average (3.45%), which is a sign of increasing profitability.

		Industry Rank	Sector Rank
ROA	-8.48%
ROE	-18.76%
ROIC	8.38%

ROA(3y)-0.17%

ROA(5y)-4.25%

ROE(3y)-0.33%

ROE(5y)-8.59%

ROIC(3y)3.45%

ROIC(5y)N/A

1.3 Margins

With an excellent Operating Margin value of 15.01%, LIVN belongs to the best of the industry, outperforming 83.15% of the companies in the same industry.
In the last couple of years the Operating Margin of LIVN has grown nicely.
Looking at the Gross Margin, with a value of 68.50%, LIVN is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
In the last couple of years the Gross Margin of LIVN has remained more or less at the same level.

		Industry Rank	Sector Rank
OM	15.01%
PM (TTM)	N/A
GM	68.5%

OM growth 3Y41.74%

OM growth 5Y18.94%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y0.63%

GM growth 5Y0.8%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), LIVN is destroying value.
LIVN has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, LIVN has more shares outstanding
LIVN has a worse debt/assets ratio than last year.

2.2 Solvency

Based on the Altman-Z score of 1.79, we must say that LIVN is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of LIVN (1.79) is comparable to the rest of the industry.
LIVN has a debt to FCF ratio of 2.26. This is a good value and a sign of high solvency as LIVN would need 2.26 years to pay back of all of its debts.
LIVN's Debt to FCF ratio of 2.26 is amongst the best of the industry. LIVN outperforms 85.87% of its industry peers.
A Debt/Equity ratio of 0.30 indicates that LIVN is not too dependend on debt financing.
LIVN has a Debt to Equity ratio of 0.30. This is comparable to the rest of the industry: LIVN outperforms 51.63% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.3
Debt/FCF	2.26
Altman-Z	1.79

ROIC/WACC0.97

WACC8.66%

2.3 Liquidity

LIVN has a Current Ratio of 1.32. This is a normal value and indicates that LIVN is financially healthy and should not expect problems in meeting its short term obligations.
LIVN has a Current ratio of 1.32. This is in the lower half of the industry: LIVN underperforms 77.17% of its industry peers.
A Quick Ratio of 1.12 indicates that LIVN should not have too much problems paying its short term obligations.
LIVN has a Quick ratio of 1.12. This is in the lower half of the industry: LIVN underperforms 72.28% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.32
Quick Ratio	1.12

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

LIVN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 12.24%, which is quite good.
LIVN shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 1.82% yearly.
LIVN shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.63%.
The Revenue has been growing slightly by 2.94% on average over the past years.

EPS 1Y (TTM)12.24%

EPS 3Y16.71%

EPS 5Y1.82%

EPS Q2Q%23.33%

Revenue 1Y (TTM)8.63%

Revenue growth 3Y6.58%

Revenue growth 5Y2.94%

Sales Q2Q%12.48%

3.2 Future

The Earnings Per Share is expected to grow by 13.20% on average over the next years. This is quite good.
The Revenue is expected to grow by 7.67% on average over the next years.

EPS Next Y16.86%

EPS Next 2Y11.85%

EPS Next 3Y10.56%

EPS Next 5Y13.2%

Revenue Next Year10.7%

Revenue Next 2Y8.67%

Revenue Next 3Y7.89%

Revenue Next 5Y7.67%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

LIVN is valuated rather expensively with a Price/Earnings ratio of 17.07.
Based on the Price/Earnings ratio, LIVN is valued cheaper than 87.50% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 28.30. LIVN is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 15.58, the valuation of LIVN can be described as correct.
Based on the Price/Forward Earnings ratio, LIVN is valued cheaper than 88.59% of the companies in the same industry.
LIVN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 25.57, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	17.07
Fwd PE	15.58

4.2 Price Multiples

84.24% of the companies in the same industry are more expensive than LIVN, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, LIVN is valued cheaper than 91.85% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	18.69
EV/EBITDA	13.45

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of LIVN may justify a higher PE ratio.