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INNOVAGE HOLDING CORP (INNV) Stock Fundamental Analysis

USA - NASDAQ:INNV - US45784A1043 - Common Stock

4.92 USD
-0.03 (-0.61%)
Last: 9/23/2025, 12:30:12 PM
Fundamental Rating

3

Taking everything into account, INNV scores 3 out of 10 in our fundamental rating. INNV was compared to 101 industry peers in the Health Care Providers & Services industry. While INNV seems to be doing ok healthwise, there are quite some concerns on its profitability. INNV is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

INNV had negative earnings in the past year.
INNV had a positive operating cash flow in the past year.
In the past 5 years INNV always reported negative net income.
The reported operating cash flow has been mixed in the past 5 years: INNV reported negative operating cash flow in multiple 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

INNV's Return On Assets of -5.75% is on the low side compared to the rest of the industry. INNV is outperformed by 69.31% of its industry peers.
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

Looking at the Gross Margin, with a value of 18.00%, INNV is doing worse than 62.38% of the companies in the same industry.
In the last couple of years the Gross Margin of INNV has declined.
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

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5

2. Health

2.1 Basic Checks

INNV does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for INNV has been reduced compared to 1 year ago.
The number of shares outstanding for INNV has been increased compared to 5 years ago.
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

INNV has an Altman-Z score of 2.66. This is not the best score and indicates that INNV is in the grey zone with still only limited risk for bankruptcy at the moment.
INNV has a Altman-Z score of 2.66. This is comparable to the rest of the industry: INNV outperforms 57.43% of its industry peers.
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.
With a decent Debt to FCF ratio value of 2.72, INNV is doing good in the industry, outperforming 79.21% of the companies in the same industry.
A Debt/Equity ratio of 0.28 indicates that INNV is not too dependend on debt financing.
With a decent Debt to Equity ratio value of 0.28, INNV is doing good in 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 2.66
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.
INNV has a Quick Ratio of 1.07. This is a normal value and indicates that INNV is financially healthy and should not expect problems in meeting its short term obligations.
INNV has a Quick ratio of 1.07. This is in the lower half of the industry: INNV underperforms 65.35% of its industry peers.
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

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5

3. Growth

3.1 Past

INNV shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -14.29%.
Looking at the last year, INNV shows a quite strong growth in Revenue. The Revenue has grown by 11.76% in the last year.
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

Based on estimates for the next years, INNV will show a very strong growth in Earnings Per Share. The EPS will grow by 70.07% on average per year.
The Revenue is expected to grow by 10.17% on average over the next years. This is quite good.
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

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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 96.47, INNV can be considered very expensive at the moment.
The rest of the industry has a similar Price/Forward Earnings ratio as INNV.
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 96.47
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 the industry average as 64.36% of the companies are valued more cheaply.
INNV's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 25.09
EV/EBITDA 177.18
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.
INNV's earnings are expected to grow with 70.07% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y70.07%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

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

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INNOVAGE HOLDING CORP

NASDAQ:INNV (9/23/2025, 12:30:12 PM)

4.92

-0.03 (-0.61%)

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 Cap667.35M
Analysts46.67
Price Target5.95 (20.93%)
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 96.47
P/S 0.78
P/FCF 25.09
P/OCF 20.31
P/B 2.84
P/tB 7.49
EV/EBITDA 177.18
EPS(TTM)-0.16
EYN/A
EPS(NY)0.05
Fwd EY1.04%
FCF(TTM)0.2
FCFY3.99%
OCF(TTM)0.24
OCFY4.92%
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 2.66
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%