Atlas Energy Solutions vs Innovex International
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The short version
- Atlas Energy Solutions is the larger business, with $1.1B of revenue in fiscal 2025 against $978M for Innovex International.
- Innovex International grew revenue faster (48.0%, against 3.7%).
- Innovex International kept more of each dollar of sales as operating profit (13.6% operating margin, against β1.0%).
| Latest fiscal year | AESI Β· FY25 | INVX Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.1B | $2.1B |
| Revenue | $1.1B | $978M |
| Free cash flow | β$30.9M | β |
| Net income | β$50.3M | $83.3M |
| Growth | ||
| Revenue growth | 3.7% | 48.0% |
| 5-year growth | β | 21.8% |
| Share count change | 12.1% | 37.0% |
| Profitability | ||
| Gross margin | 13.8% | 31.0% |
| Operating margin | β1.0% | 13.6% |
| Net margin | β4.6% | 8.5% |
| FCF margin | β2.8% | β |
| Return on capital | β | β |
| Return on equity | β4.5% | 8.3% |
| Balance sheet | ||
| Net debt | β | β$178M |
| Net debt / EBITDA | β | β0.9x |
| Dividends and buybacks | $0.2M | $9.3M |
| Valuation & quality | ||
| P/E | β | 33.6x |
| Piotroski F-score | 4 | 5 |
Revenue
FY16
AESI β
INVX $539M
FY17
AESI β
INVX $456M
FY18
AESI β
INVX $385M
FY19
AESI β
INVX $415M
FY20
AESI β
INVX $365M
FY21
AESI $172M
INVX $322M
FY22
AESI $483M
INVX $362M
FY23
AESI $614M
INVX $424M
FY24
AESI $1.1B
INVX $661M
FY25
AESI $1.1B
INVX $978M
AESI
INVX
Operating margin
FY16
AESI β
INVX 21.0%
FY17
AESI β
INVX β15.2%
FY18
AESI β
INVX β31.9%
FY19
AESI β
INVX 0.7%
FY20
AESI β
INVX β17.4%
FY21
AESI 27.3%
INVX β38.9%
FY22
AESI 48.1%
INVX 21.0%
FY23
AESI 43.2%
INVX 22.9%
FY24
AESI 10.8%
INVX 7.4%
FY25
AESI β1.0%
INVX 13.6%
AESI
INVX
Free cash flow
FY16
AESI β
INVX $221M
FY17
AESI β
INVX $80.4M
FY18
AESI β
INVX $13.4M
FY19
AESI β
INVX $3.2M
FY20
AESI β
INVX β$33.0M
FY21
AESI $2.0M
INVX $28.4M
FY22
AESI $116M
INVX β$24.7M
FY23
AESI β$66.5M
INVX $43.2M
FY24
AESI β$118M
INVX β
FY25
AESI β$30.9M
INVX β
AESI
INVX
Return on capital
FY16
AESI β
INVX β
FY17
AESI β
INVX β
FY18
AESI β
INVX β
FY19
AESI β
INVX β
FY20
AESI β
INVX β
FY21
AESI β
INVX β
FY22
AESI β
INVX β
FY23
AESI β
INVX β
FY24
AESI β
INVX β
FY25
AESI β
INVX β
AESI
INVX
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.