Skip to content
stoqly

Innovex International

INVX NYSE Oil & Gas Equipment & Services Financials FY2016–FY2025

Innovex International's revenue rose 48.0% to $978 million in fiscal 2025. Its operating margin was 13.6%, up from 7.4% a year earlier. It paid out $9 million in dividends and buybacks. The diluted share count rose 37.0%.

Last close · Oct 23, 2026

$29.91

7.1%
Value it Compare
Revenue Total sales reported in the income statement.
$978M
48.0% vs prior year
Operating margin Operating income as a share of revenue.
13.6%
6.1 pts
Net income Profit after all expenses, interest and tax.
$83.3M
40.6%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$2.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
33.6x
On $0.89 EPS (TTM)

What Innovex International does

No business description yet.

Legal name
INNOVEX INTERNATIONAL, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-067228
0001042893

Revenue and margins

Innovex International had $978M of revenue in fiscal 2025, up 48.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −7.7% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Innovex International returned $9.3M to shareholders in fiscal 2025. The diluted share count rose 37.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Innovex International yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $178M and divides by 69.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 33.6x · peers 35.2x · sector 16.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Innovex International can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $356M$292M$213M—$203M
Debt incl. finance leases ——$50.4M$35.8M$25.6M
Net debt / EBITDA ——−1.4x—−0.9x
Debt / equity ——0.2x0.0x0.0x
Interest coverage −159.3x18.8x17.7x20.2x51.4x
Current ratio 8.0x8.6x3.7x3.9x4.9x
Quick ratio 6.4x6.9x1.9x2.3x3.2x
Total assets $1.0B$970M$475M$1.2B$1.3B
Total liabilities $113M$97.6M$146M$239M$211M
Shareholders' equity $181M$251M$329M$958M$1.1B
Net debt (− = net cash) ——−$163M—−$178M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$308M

4 insiders

Of sales under plans

100%

$308M

DateInsiderTradeSharesPriceValueFiling
Aug 10, 2026 Jason TurowskyDirector, 10% owner Sold plan 5,000,000 $28.71 $144M Form 4
Aug 4, 2026 Mark ReddoutPresident of North America Sold plan 10,000 $30.00 $0.3M Form 4
Jun 2, 2026 Mark ReddoutPresident of North America Sold plan 10,750 $28.00 $0.3M Form 4
Feb 27, 2026 Interval Capital Associates II LLCDirector, 10% owner Sold plan 6,612,500 $24.59 $163M Form 4
Feb 24, 2026 Adam AndersonChief Executive Officer, Director Sold plan 18,837 $28.50 $0.5M Form 4
Feb 23, 2026 Adam AndersonChief Executive Officer, Director Sold plan 13,241 $27.00 $0.4M Form 4
Jan 14, 2026 Adam AndersonChief Executive Officer, Director Sold plan 13,241 $25.00 $0.3M Form 4
Jan 14, 2026 Mark ReddoutPresident of North America Sold plan 20,000 $25.00 $0.5M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✕ ✓
Debt fell relative to assets — ✓ ✓
Current ratio rose ✕ ✓ ✓
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✓ ✓ ✕
Revenue rose relative to assets ✓ ✓ ✕
F-score — / 97 / 95 / 9
Accruals ratio −0.3%5.6%−8.7%
Altman Z'' 7.637.689.71

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Innovex International INVX $2.1B 48.0% 13.6% — — 33.6x 5
Cactus WHD — −4.5% 23.2% — 17.1% — — Compare →
Atlas Energy Solutions AESI $1.1B 3.7% −1.0% −2.8% — — 4 Compare →
Kodiak Gas Services KGS $4.3B 12.8% 26.0% 21.7% 6.3% 52.8x 5 Compare →
Tidewater TDW $4.3B 0.5% 20.9% 26.1% 19.4% 17.6x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $539M $456M $385M $415M $365M $322M $362M $424M $661M $978M
Gross profit $210M $125M $91.1M $120M $95.3M $13.2M $52.9M $64.0M $233M $303M
Research and development — — — — — — $2.5M $3.0M $3.7M $6.7M
Operating income $113M −$69.1M −$123M $2.8M −$63.6M −$125M $75.8M $97.3M $49.1M $133M
Interest expense $0.0M $0.1M $0.3M $0.3M $0.6M $0.8M $4.0M $5.5M $2.4M $2.6M
Pretax income $116M −$65.6M −$115M $10.4M −$62.0M −$126M $72.9M $94.4M $143M $129M
Income tax $22.6M $35.0M −$19.3M $8.7M −$31.3M $2.9M $9.7M $20.4M $2.5M $45.2M
Net income $93.2M −$101M −$95.7M $1.7M −$30.8M −$129M $63.3M $73.9M $140M $83.3M
Diluted EPS $2.47 −$2.69 −$2.58 $0.05 −$0.87 −$3.63 $2.01 $2.29 $2.77 $1.20
Diluted shares 0.04B 0.04B 0.04B 0.04B 0.04B 0.04B 0.03B 0.03B 0.05B 0.07B
Cash flow
Cash from operations $247M $108M $45.5M $14.7M −$21.1M $38.4M −$5.8M $75.9M $93.4M $191M
Capital expenditure $25.8M $27.6M $32.1M $11.5M $11.9M $10.0M $18.9M $32.6M — —
Free cash flow $221M $80.4M $13.4M $3.2M −$33.0M $28.4M −$24.7M $43.2M — —
Depreciation and amortization $31.9M $41.0M $35.3M $34.0M $32.4M $30.4M $18.5M $22.7M $31.2M $60.7M
Stock-based compensation $12.2M $14.3M $13.5M $15.7M $12.9M $14.9M $0.9M $2.0M $13.2M $13.8M
Acquisitions $132M $20.4M $0.0M $0.0M $0.0M $0.0M $0.0M $82.3M $65.5M $83.7M
Share buybacks $24.2M $0.0M $100M $26.6M $25.0M $24.2M $20.8M $0.0M $0.0M $9.3M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $75.0M $0.0M
Dividends and buybacks $24.2M $0.0M $100M $26.6M $25.0M $24.2M $20.8M $0.0M $75.0M $9.3M
Balance sheet
Cash and short-term investments $424M $493M $418M $399M $346M $356M $292M $213M — $203M
Total debt — — — — — — — $50.4M $25.4M $25.6M
Finance lease liabilities $0.0M $0.0M $0.0M $0.5M $0.2M $0.1M $0.1M $1.1M $10.3M $25.6M
Current assets $1.1B $1.0B $853M $881M $863M $745M $750M $288M $641M $728M
Current liabilities $102M $99.9M $81.5M $96.9M $85.5M $93.7M $87.6M $78.6M $163M $148M
Inventory $355M $291M $191M $205M $213M $146M $146M $141M $271M $248M
Property and equipment, net $323M $284M $274M $259M $235M $216M $181M $52.4M $191M $159M
Total assets $1.5B $1.4B $1.2B $1.2B $1.2B $1.0B $970M $475M $1.2B $1.3B
Total liabilities $105M $105M $96.3M $116M $110M $113M $97.6M $146M $239M $211M
Shareholders' equity $1.4B $1.3B $1.1B $1.1B $1.0B $181M $251M $329M $958M $1.1B
Margins
Gross margin 39.0% 27.5% 23.7% 28.9% 26.1% 4.1% 14.6% 15.1% 35.2% 31.0%
Operating margin 21.0% −15.2% −31.9% 0.7% −17.4% −38.9% 21.0% 22.9% 7.4% 13.6%
EBITDA margin 26.9% −6.2% −22.7% 8.9% −8.5% −29.5% 26.1% 28.3% 12.2% 19.8%
Net margin 17.3% −22.1% −24.9% 0.4% −8.4% −39.9% 17.5% 17.4% 21.2% 8.5%
FCF margin 41.0% 17.7% 3.5% 0.8% −9.1% 8.8% −6.8% 10.2% — —
Returns
Return on capital employed 8.4% −5.2% −10.2% 0.3% −5.8% −12.7% 8.4% 15.2% 6.9% 12.3%
Return on equity 7.0% −7.6% −8.0% 0.2% −2.9% −21.0% 29.3% 25.5% 21.8% 8.3%
Return on assets 6.5% −7.0% −7.4% 0.1% −2.6% −11.9% 6.4% 10.2% 16.8% 6.8%
Growth
Revenue growth −36.2% −15.5% −15.6% 7.9% −12.0% −11.7% 12.2% 17.2% 55.8% 48.0%
Net income growth −51.5% −208.0% — — −1,888.8% — — 16.8% 89.8% −40.6%
EPS growth −50.4% −208.9% — — −1,840.0% — — 13.9% 21.0% −56.7%
FCF growth 35.4% −63.6% −83.3% −76.4% −1,139.7% — −186.8% — — —
Share count change −2.2% −0.6% −1.0% −2.5% −2.5% 0.2% −11.0% 2.9% 56.6% 37.0%
Financial health
Net debt / EBITDA — — — — — — — −1.4x — −0.9x
Debt / equity — — — — — — — 0.2x 0.0x 0.0x
Interest coverage 4,030.7x −960.2x −421.8x 8.9x −102.4x −159.3x 18.8x 17.7x 20.2x 51.4x
Current ratio 10.4x 10.1x 10.5x 9.1x 10.1x 8.0x 8.6x 3.7x 3.9x 4.9x
Quick ratio 6.9x 7.2x 8.1x 7.0x 7.6x 6.4x 6.9x 1.9x 2.3x 3.2x
Capital allocation
Capex / revenue 4.8% 6.1% 8.3% 2.8% 3.3% 3.1% 5.2% 7.7% — —
Stock comp / revenue 2.3% 3.1% 3.5% 3.8% 3.5% 4.6% 0.3% 0.5% 2.0% 1.4%
Payouts / FCF 11.0% 0.0% 743.9% 836.3% — 85.1% — 0.0% — —
Quality scores
Piotroski F-score — — — — — — — — 7.0 5.0
Altman Z'' 21.7 20.1 18.8 17.4 17.2 8.2 10.9 7.6 7.7 9.7
Accruals ratio −10.6% −14.6% −10.9% −1.1% −0.8% −15.5% 7.0% −0.3% 5.6% −8.7%

Source: SEC EDGAR XBRL filings (CIK 0001042893). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

↑ ↓ to move · ↵ to open