Stocks · Healthcare · Biotechnology
Innoviva, Inc. INVA
$20.64 +0.68% Close, Oct 5, 2026 · NASDAQ · Market cap $1.51B
Strong growthInexpensive vs sectorLow risk
Next earnings report: Nov 4, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $4.10, up 1317.2% year over year.
- Operating margin widened to 36.7% from 0.7% a year earlier.
- The diluted share count fell 13.1% in a year, mainly through buybacks.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 33%
- EPS growth (TTM, YoY)Top 1%
- FCF growth (TTM, YoY)Bottom 37%
- Revenue growth, 3-year CAGRBottom 46%
- Revenue growth accelerationTop 15%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 18%
- Gross marginTop 39%
- Operating marginTop 5%
- Cash conversion (OCF / net income)Bottom 14%
- Accruals (lower is better)Bottom 7%
- Net debt / EBITDA (lower is better)Top 27%
- Interest coverTop 16%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 2%
- Free-cash-flow yieldTop 5%
- EBITDA / enterprise valueTop 1%
- Sales / enterprise valueTop 35%
- P/E vs own 5-year history (lower is better)Top 28%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 49%
- 6-month returnBottom 31%
- 1-year return vs S&P 500Top 46%
- Distance from 52-week highTop 30%
- Trend checklist (0–4)Bottom 13%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 4%
- Consecutive EPS beatsTop 12%
- Share of analysts rating BuyBottom 16%
- Upside to consensus price targetTop 41%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 2%
- Maximum drawdown, 3 yearsTop 2%
- Beta vs S&P 500 (lower is better)Top 5%
- Net debt / EBITDA (lower is better)Top 27%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 13.6% | 19.8% | ↑ |
| Gross margin | 90.1% | 73.1% | ↓ |
| Operating margin | 0.7% | 36.7% | ↑ |
| FCF margin | 53.0% | 42.5% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 19.8% | 13.6% | ↑ | Top 33% |
| EPS growth (TTM, YoY) | 1317.2% | — | Top 1% | |
| Gross margin | 73.1% | 90.1% | ↓ | Top 39% |
| Operating margin | 36.7% | 0.7% | ↑ | Top 5% |
| Net margin | 80.6% | 10.4% | ↑ | — |
| Free-cash-flow margin | 42.5% | 53.0% | ↓ | — |
| Return on invested capital | 8.4% | — | Top 18% | |
| Revenue growth, 3-year CAGR | 8.7% | — | Bottom 46% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 0.54×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- 9.7%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 5.8%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +5.6 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- -0.37×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 8.9×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 2.79%
- Shareholder yield
- 2.79%
- Share count change, 1 year
- -13.1%
- Share count change, 3-year CAGR
- +3.9%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 5, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 6
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- +100.0%
- Average 2-day reaction, last 8
- +0.3%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $38.00
- Target vs current price
- +84.1%
- Analysts with a rating
- 10
- Share rating Buy or Strong Buy
- 50%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 5, 2026 | +161.5% | -1.7% | -0.5% | +1.1% | — |
| May 6, 2026 | +2.3% | -0.6% | +0.4% | -4.2% | -7.4% |
| Feb 25, 2026 | +470.6% | +3.5% | -4.8% | -6.4% | -5.0% |
| Nov 5, 2025 | +134.8% | +0.4% | +20.7% | +14.9% | +15.6% |
| Aug 6, 2025 | +35.1% | -1.0% | +8.9% | +13.3% | -4.7% |
| May 7, 2025 | +151.9% | +0.2% | -2.4% | +11.6% | -0.4% |
| Feb 26, 2025 | -23.5% | -0.7% | -2.6% | -3.6% | +5.1% |
| Nov 6, 2024 | -92.6% | +2.5% | +4.6% | -2.9% | -5.7% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 5, 2026 | $1.14 | $0.44 | +161.5% | $119.6M |
| May 6, 2026 | $0.44 | $0.43 | +2.3% | $98.0M |
| Feb 25, 2026 | $1.94 | $0.34 | +470.6% | $114.6M |
| Nov 5, 2025 | $1.08 | $0.46 | +134.8% | $107.8M |
| Aug 6, 2025 | $0.77 | $0.57 | +35.1% | $100.3M |
| May 7, 2025 | $0.74 | $0.29 | +151.9% | $88.6M |
| Feb 26, 2025 | $0.26 | $0.34 | -23.5% | $91.8M |
| Nov 6, 2024 | $0.02 | $0.27 | -92.6% | $89.5M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 5.0× | 7.0× | 15th | Top 2% |
| P/E (forward) | 8.5× | — | — | — |
| EV / EBITDA | 1.5× | — | — | Top 1% |
| EV / Sales | 2.73× | — | — | Top 35% |
| Free-cash-flow yield | 12.45% | — | — | Top 5% |
| Earnings yield | 19.86% | — | — | Top 2% |
P/E over the past five years
Range 3.8× – 105.7× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +16.9%
- Earnings per share growth (TTM)
- +1317.2%
- Change in P/E multiple
- -92.1%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -2.2%
- 200-day average slope (20 days)
- -0.0%
- Distance from 50-day average
- -1.7%
- Distance from 200-day average
- -5.2%
- RSI (14)
- 45.2
- Relative volume
- 0.95×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 22.7%
- Volatility vs own 5-year history
- 35th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.13
- Correlation with S&P 500
- 0.07
- Current drawdown from 1-year high
- -14.9%
- Maximum drawdown, 3 years
- -23.5%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Feb 16, 2022 | Mar 9, 2023 | -47.0% | 265 days | 423 days (Nov 12, 2024) |
| Jun 16, 2025 | Oct 14, 2025 | -23.5% | 83 days | 20 days (Nov 11, 2025) |
| Nov 9, 2021 | Jan 25, 2022 | -17.8% | 52 days | 13 days (Feb 11, 2022) |
| Apr 17, 2026 | Sep 23, 2026 | -16.5% | 109 days | Not yet recovered |
| Nov 12, 2024 | Apr 10, 2025 | -15.8% | 101 days | 36 days (Jun 3, 2025) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $1.51B
- P/E (TTM)
- 5.0
- EPS, diluted (TTM)
- $4.10
- Revenue (TTM)
- $443.4M
- 52-week range
- $16.52 – $25.15
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $391.9M | $331.3M | $310.5M | $358.7M | $425.1M |
| Gross profit | $391.9M | $317.5M | $267.8M | $322.1M | $307.5M |
| Operating income | $375.1M | $207.0M | $113.9M | $166.9M | $163.7M |
| Net income | $265.9M | $213.9M | $179.7M | $23.4M | $271.2M |
| EPS (diluted) | $2.87 | $2.37 | $2.20 | $0.36 | $3.30 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $89.5M | $91.8M | $88.6M | $100.3M | $107.8M | $118.0M | $98.0M | $119.6M |
| Net income | $1.2M | $20.3M | -$46.6M | $63.7M | $89.9M | $164.2M | $186.6M | -$83.4M |
| EPS (diluted) | $0.02 | $0.24 | -$0.74 | $0.77 | $1.08 | $1.94 | $2.22 | -$1.14 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $363.8M | $201.7M | $141.1M | $188.7M | $196.9M |
| Capital expenditure | -$1.3M | -$67,000 | -$411,000 | -$270,000 | -$10.5M |
| Free cash flow | $362.5M | $201.7M | $140.7M | $188.4M | $186.4M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$393.0M | -$8.2M | -$75.6M | -$13.5M | $8.6M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $579.1M
- Total assets
- $1.70B
- Total liabilities
- $469.5M
- Total debt
- $269.7M
- Net debt
- -$300.7M
- Shareholders’ equity
- $1.23B
As of Jun 30, 2026 (filed Aug 5, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 8, 2015 | $0.25 | Sep 30, 2015 |
| Jun 10, 2015 | $0.25 | Jun 30, 2015 |
| Mar 10, 2015 | $0.25 | Mar 31, 2015 |
| Nov 21, 2014 | $0.25 | Dec 23, 2014 |
| Aug 26, 2014 | $0.25 | Sep 18, 2014 |
Short interest
- Shares sold short
- 7,144,265
- Days to cover
- 9.31
- Change vs previous report
- +2.9%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Jun 3, 2014
- 1,241-for-1,000