The scaled vorticity Ω/N and strain ∇ ζ associated with internal waves in a weak density gradient of arbitrary depth dependence together comprise a quantity that is conserved in the usual linearized approximation. This quantity I is the volume integral of the dimensionless density DI = ½[Ω2/N2 + (∇ ζ)2]. For progressive waves the ‘kinetic’ and ‘potential’ parts are equal, and in the short-wavelength limit the density DI and flux FI are related by the ordinary group velocity: FI = DIcg. The properties of DI suggest that it may be a useful measure of local internal-wave saturation.