Innoviva Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Innoviva's revenue surged 15.5% year-over-year to $358.7M, reflecting rapid business expansion. This strong growth earns a score of 73/100.
Innoviva carries a low D/E ratio of 0.37, meaning only $0.37 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.35, Innoviva holds $2.35 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 74/100.
Innoviva converts 52.5% of revenue into free cash flow ($188.4M). This strong cash generation earns a score of 100/100.
Innoviva generates a 3.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 14/100. This is down from 26.6% the prior year.
Innoviva passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Innoviva generates $8.07 in operating cash flow ($188.7M OCF vs $23.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows Innoviva (INVA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Innoviva generated $358.7M in revenue in fiscal year 2024. This represents an increase of 15.5% from the prior year.
Innoviva generated $188.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 34.0% from the prior year.
Innoviva reported $23.4M in net income in fiscal year 2024. This represents a decrease of 87.0% from the prior year.
Innoviva earned $0.36 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 83.6% from the prior year.
Innoviva held $305.0M in cash against $256.3M in long-term debt as of fiscal year 2024.
Innoviva had 63M shares outstanding in fiscal year 2024. This represents a decrease of 0.9% from the prior year.
Innoviva's net profit margin was 6.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 51.4 percentage points from the prior year.
Innoviva's ROE was 3.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 23.3 percentage points from the prior year.
Innoviva invested $13.7M in research and development in fiscal year 2024. This represents a decrease of 59.7% from the prior year.
Innoviva spent $14.8M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 80.5% from the prior year.
Innoviva invested $270K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 34.3% from the prior year.
INVA Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $107.8M+7.5% | $100.3M+13.1% | $88.6M-3.5% | $91.8M-8.1% | $99.9M+28.9% | $77.5M-9.7% | $85.8M+27.6% | $67.3M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $75.5M-9.1% | $83.1M+13.4% | $73.3M+0.4% | $73.0M-14.1% | $85.0M+41.4% | $60.1M | N/A | N/A |
| R&D Expenses | $13.7M+71.2% | $8.0M+81.6% | $4.4M+19.9% | $3.7M+43.2% | $2.6M-34.0% | $3.9M+64.6% | $2.4M-40.9% | $4.0M |
| SG&A Expenses | $27.3M+3.3% | $26.4M-3.9% | $27.5M-12.2% | $31.3M+12.9% | $27.7M-8.8% | $30.4M+15.5% | $26.3M-8.1% | $28.6M |
| Operating Income | $34.6M-29.1% | $48.8M+17.7% | $41.4M-4.2% | $43.2M-20.9% | $54.7M+111.9% | $25.8M | N/A | N/A |
| Interest Expense | $4.0M-13.9% | $4.7M-1.0% | $4.7M-0.8% | $4.7M-18.1% | $5.8M-0.8% | $5.9M-1.7% | $6.0M+35.4% | $4.4M |
| Income Tax | $7.9M-11.2% | $8.9M+11.4% | $8.0M+83.3% | $4.4M+194.9% | -$4.6M-153.5% | $8.6M+2703.6% | -$330K-108.4% | $3.9M |
| Net Income | $89.9M+41.2% | $63.7M+236.7% | -$46.6M-329.1% | $20.3M+158.6% | -$34.7M-194.9% | $36.5M-40.6% | $61.5M-25.0% | $82.0M |
| EPS (Diluted) | $1.08+40.3% | $0.77+204.1% | $-0.74-272.1% | $0.43+178.2% | $-0.55-219.6% | $0.46-41.0% | $0.78-20.4% | $0.98 |
INVA Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B+7.2% | $1.3B+6.3% | $1.3B-3.6% | $1.3B+6.2% | $1.2B-3.4% | $1.3B+1.9% | $1.2B+4.7% | $1.2B |
| Current Assets | $684.6M+5.0% | $651.8M+12.0% | $582.0M+5.0% | $554.3M+54.7% | $358.3M+15.1% | $311.3M-9.6% | $344.2M+12.9% | $305.0M |
| Cash & Equivalents | $476.5M+19.9% | $397.5M+24.6% | $319.1M+4.6% | $305.0M+40.5% | $217.0M+21.7% | $178.4M-7.8% | $193.5M+7.5% | $180.0M |
| Inventory | $38.4M-21.7% | $49.0M+18.1% | $41.5M+23.0% | $33.7M-8.0% | $36.7M-2.1% | $37.4M-8.1% | $40.7M+0.5% | $40.5M |
| Accounts Receivable | $30.2M+44.2% | $20.9M+25.5% | $16.7M-18.2% | $20.4M-23.9% | $26.8M+89.4% | $14.1M-2.2% | $14.5M+34.4% | $10.8M |
| Goodwill | $17.9M0.0% | $17.9M0.0% | $17.9M0.0% | $17.9M0.0% | $17.9M0.0% | $17.9M0.0% | $17.9M0.0% | $17.9M |
| Total Liabilities | $419.2M-32.3% | $618.8M+1.9% | $607.5M-0.4% | $609.9M+9.0% | $559.4M-0.8% | $563.9M-0.8% | $568.6M+1.4% | $560.6M |
| Current Liabilities | $48.5M-80.3% | $246.6M+5.0% | $234.7M-0.6% | $236.1M+737.0% | $28.2M-5.6% | $29.9M-21.6% | $38.1M+5.4% | $36.2M |
| Long-Term Debt | $257.4M+0.1% | $257.0M+0.1% | $256.7M+0.1% | $256.3M-42.7% | $447.3M+0.1% | $446.8M+0.1% | $446.2M+0.1% | $445.7M |
| Total Equity | $1.0B+41.3% | $714.8M+10.5% | $646.9M-6.4% | $691.2M+3.9% | $665.5M-5.4% | $703.7M+4.3% | $675.0M+7.6% | $627.5M |
| Retained Earnings | $105.2M+587.4% | $15.3M+131.6% | -$48.4M-2592.3% | -$1.8M+92.3% | -$23.3M-305.8% | $11.3M+145.0% | -$25.2M+71.0% | -$86.7M |
INVA Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $49.7M+12.8% | $44.1M-9.3% | $48.6M-17.9% | $59.2M+35.5% | $43.7M+18.0% | $37.0M+11.4% | $33.3M-24.3% | $43.9M |
| Capital Expenditures | N/A | N/A | N/A | $0 | $0 | $0-100.0% | $151K-33.5% | $227K |
| Free Cash Flow | N/A | N/A | N/A | $59.2M+35.5% | $43.7M+18.0% | $37.0M+11.9% | $33.1M-24.3% | $43.7M |
| Investing Cash Flow | $18.4M-44.4% | $33.1M+195.5% | -$34.7M-124.0% | -$15.5M | $0+100.0% | -$43.0M-735.5% | -$5.2M+80.1% | -$25.9M |
| Financing Cash Flow | $10.8M+769.4% | $1.2M+581.4% | $183K-68.1% | $573K+111.3% | -$5.1M+44.7% | -$9.2M+37.2% | -$14.6M-31.6% | -$11.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0 | $0-100.0% | $5.2M-45.6% | $9.6M-34.6% | $14.6M+32.2% | $11.1M |
INVA Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.1%-12.8pp | 82.9%+0.2pp | 82.7%+1.2pp | 81.6%-3.5pp | 85.1%+7.5pp | 77.5% | N/A | N/A |
| Operating Margin | 32.1%-16.5pp | 48.6%+1.9pp | 46.7%-1.6pp | 48.3%-6.4pp | 54.7%+21.4pp | 33.3% | N/A | N/A |
| Net Margin | 83.4%+19.9pp | 63.5%+116.1pp | -52.6%-74.7pp | 22.1%+56.9pp | -34.7%-81.9pp | 47.1%-24.5pp | 71.7%-50.3pp | 122.0% |
| Return on Equity | 8.9%-0.0pp | 8.9% | N/A | 2.9% | N/A | 5.2%-3.9pp | 9.1%-4.0pp | 13.1% |
| Return on Assets | 6.3%+1.5pp | 4.8%+8.5pp | -3.7%-5.3pp | 1.6%+4.4pp | -2.8%-5.7pp | 2.9%-2.1pp | 5.0%-2.0pp | 6.9% |
| Current Ratio | 14.12+11.5 | 2.64+0.2 | 2.48+0.1 | 2.35-10.4 | 12.70+2.3 | 10.42+1.4 | 9.03+0.6 | 8.43 |
| Debt-to-Equity | 0.25-0.1 | 0.36-0.0 | 0.40+0.0 | 0.37-0.3 | 0.67+0.0 | 0.63-0.0 | 0.66-0.0 | 0.71 |
| FCF Margin | N/A | N/A | N/A | 64.5%+20.8pp | 43.8%-4.0pp | 47.8%+9.2pp | 38.6%-26.4pp | 65.0% |
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Frequently Asked Questions
What is Innoviva's annual revenue?
Innoviva (INVA) reported $358.7M in total revenue for fiscal year 2024. This represents a 15.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Innoviva's revenue growing?
Innoviva (INVA) revenue grew by 15.5% year-over-year, from $310.5M to $358.7M in fiscal year 2024.
Is Innoviva profitable?
Yes, Innoviva (INVA) reported a net income of $23.4M in fiscal year 2024, with a net profit margin of 6.5%.
What is Innoviva's earnings per share (EPS)?
Innoviva (INVA) reported diluted earnings per share of $0.36 for fiscal year 2024. This represents a -83.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
How much debt does Innoviva have?
As of fiscal year 2024, Innoviva (INVA) had $305.0M in cash and equivalents against $256.3M in long-term debt.
What is Innoviva's net profit margin?
Innoviva (INVA) had a net profit margin of 6.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Innoviva's return on equity (ROE)?
Innoviva (INVA) has a return on equity of 3.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Innoviva's free cash flow?
Innoviva (INVA) generated $188.4M in free cash flow during fiscal year 2024. This represents a 34.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Innoviva's operating cash flow?
Innoviva (INVA) generated $188.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Innoviva's total assets?
Innoviva (INVA) had $1.3B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Innoviva's capital expenditures?
Innoviva (INVA) invested $270K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Innoviva spend on research and development?
Innoviva (INVA) invested $13.7M in research and development during fiscal year 2024.
Does Innoviva buy back shares?
Yes, Innoviva (INVA) spent $14.8M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Innoviva have outstanding?
Innoviva (INVA) had 63M shares outstanding as of fiscal year 2024.
What is Innoviva's current ratio?
Innoviva (INVA) had a current ratio of 2.35 as of fiscal year 2024, which is generally considered healthy.
What is Innoviva's debt-to-equity ratio?
Innoviva (INVA) had a debt-to-equity ratio of 0.37 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Innoviva's return on assets (ROA)?
Innoviva (INVA) had a return on assets of 1.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Innoviva's Piotroski F-Score?
Innoviva (INVA) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Innoviva's earnings high quality?
Innoviva (INVA) has an earnings quality ratio of 8.07x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Innoviva?
Innoviva (INVA) scores 72 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.