Logo image of INNV

INNOVAGE HOLDING CORP (INNV) Stock Fundamental Analysis

USA - NASDAQ:INNV - US45784A1043 - Common Stock

4.95 USD
+0.32 (+6.91%)
Last: 9/22/2025, 8:34:05 PM
Fundamental Rating

3

INNV gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 101 industry peers in the Health Care Providers & Services industry. INNV scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. INNV is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

1

1. Profitability

1.1 Basic Checks

INNV had negative earnings in the past year.
In the past year INNV had a positive cash flow from operations.
INNV had negative earnings in each of the past 5 years.
In multiple years INNV reported negative operating cash flow during the last 5 years.
INNV Yearly Net Income VS EBIT VS OCF VS FCFINNV Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 2023 2024 2025 0 20M -20M 40M -40M

1.2 Ratios

Looking at the Return On Assets, with a value of -5.75%, INNV is doing worse than 69.31% of the companies in the same industry.
With a Return On Equity value of -12.90%, INNV is not doing good in the industry: 61.39% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -5.75%
ROE -12.9%
ROIC N/A
ROA(3y)-5.61%
ROA(5y)-5.25%
ROE(3y)-11.52%
ROE(5y)-9.93%
ROIC(3y)N/A
ROIC(5y)N/A
INNV Yearly ROA, ROE, ROICINNV Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20

1.3 Margins

INNV has a worse Gross Margin (18.00%) than 62.38% of its industry peers.
INNV's Gross Margin has declined in the last couple of years.
The Profit Margin and Operating Margin are not available for INNV so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 18%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.44%
GM growth 5Y-6.3%
INNV Yearly Profit, Operating, Gross MarginsINNV Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 2024 2025 0 10 20

5

2. Health

2.1 Basic Checks

INNV does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, INNV has less shares outstanding
Compared to 5 years ago, INNV has more shares outstanding
The debt/assets ratio for INNV has been reduced compared to a year ago.
INNV Yearly Shares OutstandingINNV Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
INNV Yearly Total Debt VS Total AssetsINNV Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M

2.2 Solvency

An Altman-Z score of 2.57 indicates that INNV is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a Altman-Z score value of 2.57, INNV perfoms like the industry average, outperforming 55.45% of the companies in the same industry.
The Debt to FCF ratio of INNV is 2.72, which is a good value as it means it would take INNV, 2.72 years of fcf income to pay off all of its debts.
INNV's Debt to FCF ratio of 2.72 is fine compared to the rest of the industry. INNV outperforms 79.21% of its industry peers.
INNV has a Debt/Equity ratio of 0.28. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.28, INNV is in the better half of the industry, outperforming 66.34% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 2.72
Altman-Z 2.57
ROIC/WACCN/A
WACC8.6%
INNV Yearly LT Debt VS Equity VS FCFINNV Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 2023 2024 2025 0 100M 200M 300M

2.3 Liquidity

A Current Ratio of 1.07 indicates that INNV should not have too much problems paying its short term obligations.
INNV has a Current ratio of 1.07. This is in the lower half of the industry: INNV underperforms 69.31% of its industry peers.
A Quick Ratio of 1.07 indicates that INNV should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.07, INNV is not doing good in the industry: 65.35% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 1.07
Quick Ratio 1.07
INNV Yearly Current Assets VS Current LiabilitesINNV Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M

5

3. Growth

3.1 Past

The earnings per share for INNV have decreased strongly by -14.29% in the last year.
INNV shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.76%.
INNV shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.52% yearly.
EPS 1Y (TTM)-14.29%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%0%
Revenue 1Y (TTM)11.76%
Revenue growth 3Y6.91%
Revenue growth 5Y8.52%
Sales Q2Q%11.04%

3.2 Future

INNV is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 70.07% yearly.
Based on estimates for the next years, INNV will show a quite strong growth in Revenue. The Revenue will grow by 10.17% on average per year.
EPS Next Y131.88%
EPS Next 2Y70.07%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year8.51%
Revenue Next 2Y9.5%
Revenue Next 3Y10.17%
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
INNV Yearly Revenue VS EstimatesINNV Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M 800M 1B
INNV Yearly EPS VS EstimatesINNV Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 -5 -10 -15

3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for INNV. In the last year negative earnings were reported.
With a Price/Forward Earnings ratio of 97.06, INNV can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Forward Earnings ratio of INNV is on the same level as its industry peers.
The average S&P500 Price/Forward Earnings ratio is at 22.87. INNV is valued rather expensively when compared to this.
Industry RankSector Rank
PE N/A
Fwd PE 97.06
INNV Price Earnings VS Forward Price EarningsINNV Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40 60 80

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, INNV is valued a bit more expensive than 64.36% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of INNV is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 25.24
EV/EBITDA 164.28
INNV Per share dataINNV EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as INNV's earnings are expected to grow with 70.07% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y70.07%
EPS Next 3YN/A

0

5. Dividend

5.1 Amount

INNV does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

INNOVAGE HOLDING CORP

NASDAQ:INNV (9/22/2025, 8:34:05 PM)

4.95

+0.32 (+6.91%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)09-09 2025-09-09/amc
Earnings (Next)11-03 2025-11-03
Inst Owners12.06%
Inst Owner Change-8.29%
Ins Owners1.98%
Ins Owner Change0.38%
Market Cap671.42M
Analysts46.67
Price Target5.95 (20.2%)
Short Float %1.63%
Short Ratio9.21
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-234.74%
Min EPS beat(2)-527.45%
Max EPS beat(2)57.98%
EPS beat(4)1
Avg EPS beat(4)-191.55%
Min EPS beat(4)-527.45%
Max EPS beat(4)57.98%
EPS beat(8)3
Avg EPS beat(8)-94.7%
EPS beat(12)4
Avg EPS beat(12)-88.87%
EPS beat(16)5
Avg EPS beat(16)-94.86%
Revenue beat(2)0
Avg Revenue beat(2)-0.67%
Min Revenue beat(2)-1.24%
Max Revenue beat(2)-0.1%
Revenue beat(4)0
Avg Revenue beat(4)-1.25%
Min Revenue beat(4)-2.58%
Max Revenue beat(4)-0.1%
Revenue beat(8)4
Avg Revenue beat(8)-0.14%
Revenue beat(12)4
Avg Revenue beat(12)-0.9%
Revenue beat(16)5
Avg Revenue beat(16)-0.81%
PT rev (1m)2.94%
PT rev (3m)2.94%
EPS NQ rev (1m)50%
EPS NQ rev (3m)50%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-0.76%
Revenue NQ rev (3m)-0.76%
Revenue NY rev (1m)-1.46%
Revenue NY rev (3m)-1.46%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 97.06
P/S 0.79
P/FCF 25.24
P/OCF 20.43
P/B 2.86
P/tB 7.54
EV/EBITDA 164.28
EPS(TTM)-0.16
EYN/A
EPS(NY)0.05
Fwd EY1.03%
FCF(TTM)0.2
FCFY3.96%
OCF(TTM)0.24
OCFY4.9%
SpS6.29
BVpS1.73
TBVpS0.66
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -5.75%
ROE -12.9%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 18%
FCFM 3.12%
ROA(3y)-5.61%
ROA(5y)-5.25%
ROE(3y)-11.52%
ROE(5y)-9.93%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.44%
GM growth 5Y-6.3%
F-Score6
Asset Turnover1.62
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 2.72
Debt/EBITDA 19.32
Cap/Depr 32.1%
Cap/Sales 0.73%
Interest Coverage N/A
Cash Conversion 976.7%
Profit Quality N/A
Current Ratio 1.07
Quick Ratio 1.07
Altman-Z 2.57
F-Score6
WACC8.6%
ROIC/WACCN/A
Cap/Depr(3y)75.1%
Cap/Depr(5y)131.8%
Cap/Sales(3y)1.72%
Cap/Sales(5y)2.74%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-14.29%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%0%
EPS Next Y131.88%
EPS Next 2Y70.07%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)11.76%
Revenue growth 3Y6.91%
Revenue growth 5Y8.52%
Sales Q2Q%11.04%
Revenue Next Year8.51%
Revenue Next 2Y9.5%
Revenue Next 3Y10.17%
Revenue Next 5YN/A
EBIT growth 1Y30.29%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year253.21%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y159.37%
FCF growth 3YN/A
FCF growth 5Y-3.62%
OCF growth 1Y189.07%
OCF growth 3Y6.38%
OCF growth 5Y-5.59%