Corcept Therapeutics vs Innoviva
Add, change or remove companies; up to four.
The short version
- Corcept Therapeutics is the larger business, with $761M of revenue in fiscal 2025 against $411M for Innoviva, about 1.9 times as much.
- Innoviva grew revenue faster (14.7%, against 12.8%).
- Innoviva kept more of each dollar of sales as operating profit (39.8% operating margin, against 5.9%).
- Innoviva turned more of its sales into free cash flow (47.6% FCF margin, against 18.6%).
- Innoviva earned a higher return on the capital invested in it (17.9%, against 15.7%).
| Latest fiscal year | CORT · FY25 | INVA · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.2B | $1.5B |
| Revenue | $761M | $411M |
| Free cash flow | $142M | $196M |
| Net income | $99.7M | $271M |
| Growth | ||
| Revenue growth | 12.8% | 14.7% |
| 5-year growth | 16.6% | 4.1% |
| Share count change | 5.7% | 14.3% |
| Profitability | ||
| Gross margin | 98.3% | 74.8% |
| Operating margin | 5.9% | 39.8% |
| Net margin | 13.1% | 65.9% |
| FCF margin | 18.6% | 47.6% |
| Return on capital | 15.7% | 17.9% |
| Return on equity | 15.0% | 29.1% |
| Balance sheet | ||
| Net debt | −$372M | −$293M |
| Net debt / EBITDA | −8.1x | — |
| Dividends and buybacks | $173M | $4.5M |
| Valuation & quality | ||
| P/E | — | 5.0x |
| Piotroski F-score | 3 | 6 |
Revenue
FY16
CORT $81.3M
INVA $134M
FY17
CORT $159M
INVA $217M
FY18
CORT $251M
INVA $261M
FY19
CORT $307M
INVA $261M
FY20
CORT $354M
INVA $337M
FY21
CORT $366M
INVA $392M
FY22
CORT $402M
INVA $331M
FY23
CORT $482M
INVA $311M
FY24
CORT $675M
INVA $359M
FY25
CORT $761M
INVA $411M
CORT
INVA
Operating margin
FY16
CORT 12.5%
INVA 81.6%
FY17
CORT 33.2%
INVA 84.5%
FY18
CORT 35.6%
INVA 91.3%
FY19
CORT 36.4%
INVA 94.4%
FY20
CORT 36.2%
INVA 95.4%
FY21
CORT 34.0%
INVA 95.7%
FY22
CORT 28.0%
INVA —
FY23
CORT 22.2%
INVA 36.7%
FY24
CORT 20.3%
INVA 46.5%
FY25
CORT 5.9%
INVA 39.8%
CORT
INVA
Free cash flow
FY16
CORT $18.2M
INVA $60.7M
FY17
CORT $60.5M
INVA $142M
FY18
CORT $115M
INVA $224M
FY19
CORT $135M
INVA $257M
FY20
CORT $151M
INVA $313M
FY21
CORT $167M
INVA $364M
FY22
CORT $120M
INVA $202M
FY23
CORT $127M
INVA $141M
FY24
CORT $196M
INVA $188M
FY25
CORT $142M
INVA $196M
CORT
INVA
Return on capital
FY16
CORT —
INVA 50.5%
FY17
CORT 99.0%
INVA —
FY18
CORT 85.5%
INVA —
FY19
CORT 109.6%
INVA 50.8%
FY20
CORT 116.1%
INVA 47.8%
FY21
CORT 95.4%
INVA 42.4%
FY22
CORT 88.4%
INVA 30.3%
FY23
CORT 87.6%
INVA 12.1%
FY24
CORT 55.1%
INVA 13.3%
FY25
CORT 15.7%
INVA 17.9%
CORT
INVA
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.