The Integral Diagnostics Ltd (ASX: IDX) share price is in the spotlight after the company reported a 25.6% rise in revenue to $788.7 million, alongside a 50% boost in operating NPAT to $47.4 million for FY26.
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What did Integral Diagnostics report?
- Revenue grew 25.6% to $788.7 million
- Operating EBITDA jumped 30.3% to $164.8 million, with margins up to 20.9%
- Operating NPAT climbed 50.1% to $47.4 million
- Operating diluted EPS increased by 23.6% to 12.6 cents
- Fully franked final dividend of 6.0 cents per share (total FY26: 9.3 cents), up 50%
- Operating free cash flow up 30.7% to $106.4 million, with conversion at 82%
What else do investors need to know?
Integral's strong FY26 performance reflects both organic growth and successful integration of the Capitol Health merger, with more than $14 million in annual synergies realised—well above initial expectations. Patient volumes and Medicare indexation drove much of the revenue uplift, and there was continued momentum in higher value imaging services like CT, MRI, and PET scans.
The balance sheet remains on solid footing. Net debt edged up slightly to $298.9 million, but leverage fell to 2.3x Operating EBITDA, within the company's target range. Management also reported a reduction in the average interest rate on core debt and confirmed all banking covenants are being met.
What did Integral Diagnostics management say?
Jason Martinez, Managing Director and CEO, said:
IDX delivered a strong FY26 result, with solid revenue growth, improved margins and disciplined execution across the business, resulting in performance in line with our guidance. This translated into enhanced shareholder returns, with operating diluted EPS increasing 23.6% and a fully franked final dividend of 6.0 cents per share, up 50.0% on the prior year.
What's next for Integral Diagnostics?
Integral Diagnostics says it's well placed to ride favourable industry trends like increasing demand for diagnostic imaging and the shift to higher-value modalities. Priorities for FY27 and beyond include disciplined core growth, selective network expansion, people and culture investment, and digital innovation.
The company is targeting sustainable revenue growth, ongoing margin expansion above 21%, further productivity gains, and improved patient access. Expected capex for FY27 is $50 million to $60 million for replacement and growth initiatives.
Integral Diagnostics share price snapshot
Over the past 12 months, Integral Diagnostics shares have declined 16%, trailing the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.
