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INNODATA INC (INOD) Stock Fundamental Analysis

NASDAQ:INOD - Nasdaq - US4576422053 - Common Stock - Currency: USD

47.26  -1.97 (-4%)

After market: 48.99 +1.73 (+3.66%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to INOD. INOD was compared to 82 industry peers in the Professional Services industry. INOD is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. INOD shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

INOD had positive earnings in the past year.
In the past year INOD had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: INOD reported negative net income in multiple years.
INOD had a positive operating cash flow in 4 of the past 5 years.
INOD Yearly Net Income VS EBIT VS OCF VS FCFINOD Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M -10M 20M 30M

1.2 Ratios

INOD has a Return On Assets of 28.32%. This is amongst the best in the industry. INOD outperforms 97.56% of its industry peers.
INOD's Return On Equity of 46.97% is amongst the best of the industry. INOD outperforms 90.24% of its industry peers.
Industry RankSector Rank
ROA 28.32%
ROE 46.97%
ROIC N/A
ROA(3y)-0.37%
ROA(5y)-0.57%
ROE(3y)-7.33%
ROE(5y)-5.1%
ROIC(3y)N/A
ROIC(5y)N/A
INOD Yearly ROA, ROE, ROICINOD Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 -60

1.3 Margins

INOD's Profit Margin of 17.53% is amongst the best of the industry. INOD outperforms 87.80% of its industry peers.
The Operating Margin and Gross Margin are not available for INOD so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 17.53%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
INOD Yearly Profit, Operating, Gross MarginsINOD Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30

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8

2. Health

2.1 Basic Checks

INOD does not have a ROIC to compare to the WACC, probably because it is not profitable.
INOD has more shares outstanding than it did 1 year ago.
INOD has more shares outstanding than it did 5 years ago.
INOD has a better debt/assets ratio than last year.
INOD Yearly Shares OutstandingINOD Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M
INOD Yearly Total Debt VS Total AssetsINOD Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

2.2 Solvency

INOD has an Altman-Z score of 11.87. This indicates that INOD is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 11.87, INOD belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
The Debt to FCF ratio of INOD is 0.28, which is an excellent value as it means it would take INOD, only 0.28 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.28, INOD belongs to the top of the industry, outperforming 84.15% of the companies in the same industry.
A Debt/Equity ratio of 0.09 indicates that INOD is not too dependend on debt financing.
INOD's Debt to Equity ratio of 0.09 is fine compared to the rest of the industry. INOD outperforms 68.29% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 0.28
Altman-Z 11.87
ROIC/WACCN/A
WACC8.99%
INOD Yearly LT Debt VS Equity VS FCFINOD Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M

2.3 Liquidity

INOD has a Current Ratio of 2.36. This indicates that INOD is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 2.36, INOD belongs to the best of the industry, outperforming 82.93% of the companies in the same industry.
A Quick Ratio of 2.36 indicates that INOD has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 2.36, INOD belongs to the top of the industry, outperforming 82.93% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.36
Quick Ratio 2.36
INOD Yearly Current Assets VS Current LiabilitesINOD Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

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8

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 1633.33% over the past year.
INOD shows a strong growth in Revenue. In the last year, the Revenue has grown by 114.20%.
Measured over the past years, INOD shows a very strong growth in Revenue. The Revenue has been growing by 25.00% on average per year.
EPS 1Y (TTM)1633.33%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%633.33%
Revenue 1Y (TTM)114.2%
Revenue growth 3Y34.69%
Revenue growth 5Y25%
Sales Q2Q%120.17%

3.2 Future

Based on estimates for the next years, INOD will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.98% on average per year.
The Revenue is expected to grow by 23.97% on average over the next years. This is a very strong growth
EPS Next Y-11.66%
EPS Next 2Y12.96%
EPS Next 3Y15.98%
EPS Next 5YN/A
Revenue Next Year46.77%
Revenue Next 2Y34.16%
Revenue Next 3Y23.97%
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.
INOD Yearly Revenue VS EstimatesINOD Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M
INOD Yearly EPS VS EstimatesINOD Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2023 2024 2025 2026 2027 0 0.2 0.4 0.6 0.8 1

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0

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 45.44, the valuation of INOD can be described as expensive.
INOD's Price/Earnings ratio is a bit more expensive when compared to the industry. INOD is more expensive than 69.51% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.65. INOD is valued rather expensively when compared to this.
With a Price/Forward Earnings ratio of 43.57, INOD can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, INOD is valued a bit more expensive than the industry average as 67.07% of the companies are valued more cheaply.
INOD's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 21.27.
Industry RankSector Rank
PE 45.44
Fwd PE 43.57
INOD Price Earnings VS Forward Price EarningsINOD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

INOD's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. INOD is more expensive than 63.41% of the companies in the same industry.
Industry RankSector Rank
P/FCF 49.42
EV/EBITDA N/A
INOD Per share dataINOD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

INOD's earnings are expected to grow with 15.98% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y12.96%
EPS Next 3Y15.98%

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0

5. Dividend

5.1 Amount

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

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INNODATA INC

NASDAQ:INOD (6/23/2025, 8:25:27 PM)

After market: 48.99 +1.73 (+3.66%)

47.26

-1.97 (-4%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryProfessional Services
Earnings (Last)05-09 2025-05-09/bmo
Earnings (Next)08-06 2025-08-06
Inst Owners56.52%
Inst Owner Change27.17%
Ins Owners4.39%
Ins Owner Change-6.16%
Market Cap1.50B
Analysts83.64
Price Target65.69 (39%)
Short Float %17.41%
Short Ratio2.47
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)2
Avg EPS beat(2)32.82%
Min EPS beat(2)23.78%
Max EPS beat(2)41.85%
EPS beat(4)4
Avg EPS beat(4)114.07%
Min EPS beat(4)23.78%
Max EPS beat(4)290.63%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)4.33%
Min Revenue beat(2)-0.77%
Max Revenue beat(2)9.44%
Revenue beat(4)3
Avg Revenue beat(4)16.53%
Min Revenue beat(4)-0.77%
Max Revenue beat(4)41.78%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-12.97%
PT rev (3m)-12.97%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-13.63%
EPS NY rev (1m)4.54%
EPS NY rev (3m)-5.55%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-5.18%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.47%
Valuation
Industry RankSector Rank
PE 45.44
Fwd PE 43.57
P/S 7.42
P/FCF 49.42
P/OCF 38.36
P/B 19.88
P/tB 25.05
EV/EBITDA N/A
EPS(TTM)1.04
EY2.2%
EPS(NY)1.08
Fwd EY2.3%
FCF(TTM)0.96
FCFY2.02%
OCF(TTM)1.23
OCFY2.61%
SpS6.37
BVpS2.38
TBVpS1.89
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 28.32%
ROE 46.97%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 17.53%
GM N/A
FCFM 15.01%
ROA(3y)-0.37%
ROA(5y)-0.57%
ROE(3y)-7.33%
ROE(5y)-5.1%
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 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover1.62
Health
Industry RankSector Rank
Debt/Equity 0.09
Debt/FCF 0.28
Debt/EBITDA N/A
Cap/Depr 143.64%
Cap/Sales 4.33%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 85.63%
Current Ratio 2.36
Quick Ratio 2.36
Altman-Z 11.87
F-Score7
WACC8.99%
ROIC/WACCN/A
Cap/Depr(3y)139.8%
Cap/Depr(5y)126.76%
Cap/Sales(3y)6.41%
Cap/Sales(5y)5.58%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1633.33%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%633.33%
EPS Next Y-11.66%
EPS Next 2Y12.96%
EPS Next 3Y15.98%
EPS Next 5YN/A
Revenue 1Y (TTM)114.2%
Revenue growth 3Y34.69%
Revenue growth 5Y25%
Sales Q2Q%120.17%
Revenue Next Year46.77%
Revenue Next 2Y34.16%
Revenue Next 3Y23.97%
Revenue Next 5YN/A
EBIT growth 1Y-10303.4%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year89.66%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y817.8%
FCF growth 3Y227%
FCF growth 5Y59.89%
OCF growth 1Y1798.79%
OCF growth 3Y89.44%
OCF growth 5Y52.25%