What is Innoviva, Inc.'s earnings per share (EPS)?

Innoviva, Inc. (INVA) reported diluted earnings per share of $3.30 for fiscal year 2025. This represents a 816.7% 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.

Innoviva, Inc. (INVA) Financials

INVA

Trailing 12 months to June 30, 2026

Revenue $440.0M +18.8% YoY

Net Income $357.2M +824.3% YoY

EPS (Diluted) $4.11 +1041.7% YoY

Free Cash Flow $189.4M -5.4% YoY

Market Cap $1.5B as of Oct 10, 2026

Price / Sales 3.5x on $440.0M revenue, trailing 12 months to June 30, 2026

Price / Earnings 4.3x on $357.2M net income, trailing 12 months to June 30, 2026

Price / Book 1.2x on $1.2B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the INVA SEC filings page.

Innoviva, Inc. (INVA) reported $440.0M in revenue over the twelve months to Jun 30, 2026, up 18.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI INVA FY2025 2026-10-03

Innoviva's FY2025 numbers show a cash-generating business with a stronger balance sheet despite narrower operating margins.

Between FY2023 and FY2025, gross margin narrowed from 79.3% to 74.8% as revenue expanded, so scale did not translate into broader gross economics. Operating margin likewise fell from 46.5% to 39.8%, pointing to mix or cost pressure rather than fixed-cost absorption.

FY2025 operating cash flow and free cash flow were nearly identical at $196.9M and $195.8M, showing that reported cash generation required little reinvestment. That conversion was strong relative to reinvestment, but cash generation remained below net income, so accounting earnings were not fully realized as cash.

Debt-to-equity fell from 0.4x in FY2024 to 0.2x in FY2025, reducing the balance sheet's reliance on debt. The current ratio simultaneously rose from 2.3x to 14.6x, indicating a much larger short-term asset cushion relative to near-term obligations.

Financial Health Signals

Financial Health Score 83/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Innoviva, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Innoviva, Inc. has an operating margin of 39.8%, meaning the company retains $40 of operating profit per $100 of revenue. This strong profitability earns a score of 85/100, reflecting efficient cost management and pricing power. This is down from 46.5% the prior year.

Growth

Innoviva, Inc.'s revenue grew 14.7% year-over-year to $411.3M, a solid pace of expansion. This earns a growth score of 76/100.

Leverage

Innoviva, Inc. carries a low D/E ratio of 0.22, meaning only $0.22 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 74/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 14.64, Innoviva, Inc. holds $14.64 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 99/100.

Cash Flow

Innoviva, Inc. converts 47.6% of revenue into free cash flow ($195.8M). This strong cash generation earns a score of 98/100.

Returns

Innoviva, Inc.'s ROE of 23.1% shows moderate profitability relative to equity, earning a score of 64/100. This is up from 3.4% the prior year.

Altman Z-Score Safe

3.30

Innoviva, Inc. scores 3.30, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.5B) relative to total liabilities ($462.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

5/9

Innoviva, Inc. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

0.73x

For every $1 of reported earnings, Innoviva, Inc. generates $0.73 in operating cash flow ($196.9M OCF vs $271.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Safe

9.81x

Innoviva, Inc. earns $9.81 in operating income for every $1 of interest expense ($163.7M vs $16.7M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$119.6M

YoY+19.3%

QoQ+22.0%

5Y CAGR+3.5%

10Y CAGR+13.9%

Innoviva, Inc. generated $119.6M in revenue in Q2 2026. This represents an increase of 19.3% from the same quarter a year earlier. Against the prior quarter it is up 22.0%.

Net Income

-$83.4M

YoY-231.0%

QoQ-144.7%

Innoviva, Inc. reported -$83.4M in net income in Q2 2026. This represents a decrease of 231.0% from the same quarter a year earlier. Against the prior quarter it is down 144.7%.

EPS (Diluted)

-$1.14

YoY-248.1%

QoQ-151.4%

Innoviva, Inc. earned -$1.14 per diluted share (EPS) in Q2 2026. This represents a decrease of 248.1% from the same quarter a year earlier. Against the prior quarter it is down 151.4%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$51.5M

YoY+16.9%

QoQ+48.2%

5Y CAGR-9.4%

Innoviva, Inc. generated $51.5M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 16.9% from the same quarter a year earlier. Against the prior quarter it is up 48.2%.

Cash & Debt

$570.4M

YoY+43.5%

QoQ-5.4%

5Y CAGR+67.5%

10Y CAGR+17.6%

Innoviva, Inc. held $570.4M in cash against $258.5M in long-term debt as of Q2 2026.

Shares Outstanding

72M

YoY+14.6%

QoQ-2.1%

5Y CAGR+0.8%

10Y CAGR-4.2%

Innoviva, Inc. had 72M shares outstanding in Q2 2026. This represents an increase of 14.6% from the same quarter a year earlier. Against the prior quarter it is down 2.1%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

75.8%

YoY-7.1pp

QoQ-1.6pp

Innoviva, Inc.'s gross margin was 75.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 7.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.

Operating Margin

42.5%

YoY-6.1pp

QoQ+3.6pp

Innoviva, Inc.'s operating margin was 42.5% in Q2 2026, reflecting core business profitability. This is down 6.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.6 percentage points.

Net Margin

-69.8%

YoY-133.3pp

10Y change-114.7pp

Innoviva, Inc.'s net profit margin was -69.8% in Q2 2026, showing the share of revenue converted to profit. This is down 133.3 percentage points from the same quarter a year earlier.

Return on Equity

-6.8%

YoY-15.7pp

QoQ-20.7pp

5Y change-40.4pp

Innoviva, Inc.'s ROE was -6.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 15.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 20.7 percentage points.

Capital Allocation

R&D Spending

$5.2M

YoY-35.0%

QoQ-1.0%

5Y CAGR+167.3%

Innoviva, Inc. invested $5.2M in research and development in Q2 2026. This represents a decrease of 35.0% from the same quarter a year earlier. Against the prior quarter it is down 1.0%.

Share Buybacks

$31.1M

QoQ+53.4%

Innoviva, Inc. spent $31.1M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is up 53.4%.

Capital Expenditures

$429K

QoQ-12.8%

Innoviva, Inc. invested $429K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is down 12.8%.

INVA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

INVA quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$440.0M	$411.3M+14.7%	$358.7M+15.5%	$310.5M-6.3%	$331.3M-15.4%	$391.9M+16.4%	$336.8M+29.0%	$261.0M0.0%	$261.0M+20.2%	$217.2M+62.6%	$133.6M+147.6%	$53.9M+539.7%	$8.4M+86.1%	$4.5M-19.3%	$5.6M-77.1%	$24.5M
Gross Profit	$317.7M	$307.7M+3.9%	$296.2M+20.4%	$246.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$28.7M	$30.6M+124.1%	$13.7M-59.7%	$33.9M-18.1%	$41.4M+7093.1%	$576K-67.8%	$1.8M	$0	$0-100.0%	$1.4M-2.7%	$1.4M-46.8%	$2.6M-65.1%	$7.5M-17.0%	$9.0M+10.9%	$8.2M-92.1%	$103.6M
SG&A Expenses	$126.4M	$113.3M-2.1%	$115.7M+17.8%	$98.2M+54.6%	$63.5M+292.5%	$16.2M+16.6%	$13.9M-5.3%	$14.7M-26.9%	$20.1M-37.8%	$32.3M+39.1%	$23.2M+17.4%	$19.8M-43.4%	$34.9M-28.0%	$48.4M+57.0%	$30.9M+0.6%	$30.7M
Operating Income	$162.6M	$163.7M-1.9%	$166.9M+46.5%	$113.9M	N/A	$375.1M+16.8%	$321.1M+30.3%	$246.4M+3.4%	$238.3M+29.8%	$183.6M+68.5%	$109.0M+245.1%	$31.6M+193.1%	-$33.9M-17.8%	-$28.8M-14.5%	-$25.1M+77.1%	-$109.7M
EBITDA	N/A	N/A	N/A	N/A	N/A	$388.9M+16.1%	$335.0M+28.7%	$260.2M+3.2%	$252.1M+27.6%	$197.6M+60.7%	$122.9M+170.1%	$45.5M+309.2%	-$21.8M+14.1%	-$25.3M-15.7%	-$21.9M+78.6%	-$102.2M
Interest Expense	$18.2M	$16.7M-24.8%	$22.2M+15.9%	$19.2M+21.3%	$15.8M-17.2%	$19.1M+4.0%	$18.3M-1.8%	$18.7M-22.1%	$24.0M-45.1%	$43.6M-16.8%	$52.4M+1.2%	$51.8M+40.4%	$36.9M+294.7%	$9.3M+55.7%	$6.0M-0.3%	$6.0M
Income Tax	$62.2M	$55.7M+297.9%	$14.0M-2.6%	$14.4M-78.4%	$66.7M-12.8%	$76.4M+26.5%	$60.4M+44.2%	$41.9M+121.4%	-$196.1M-4901925.0%	$4K-95.8%	$95K	$0	$0	$0	$0	$0
Net Income	$357.2M	$271.2M+1059.2%	$23.4M-87.0%	$179.7M-18.4%	$220.3M-40.3%	$368.8M+25.5%	$293.8M+53.8%	$191.0M-53.0%	$406.3M+202.6%	$134.3M+125.5%	$59.5M+417.4%	-$18.8M+88.9%	-$168.5M+1.3%	-$170.7M-820.6%	-$18.5M+83.9%	-$115.3M
EPS (Basic)	N/A	$4.02+986.5%	$0.37-86.5%	$2.75-10.4%	$3.07-5.2%	$3.24+46.6%	$2.21+42.6%	$1.55-60.5%	$3.92+213.6%	$1.25+131.5%	$0.54+437.5%	-$0.16+89.3%	-$1.50	N/A	N/A	N/A
EPS (Diluted)	$4.11	$3.30+816.7%	$0.36-83.6%	$2.20-7.2%	$2.37-17.4%	$2.87+42.1%	$2.02+41.3%	$1.43-59.5%	$3.53+201.7%	$1.17+120.8%	$0.53+431.3%	-$0.16+89.3%	-$1.50	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	85M+14.3%	74M-14.6%	87M-8.8%	95M+1.0%	94M-16.9%	114M+0.1%	113M0.0%	113M-5.4%	120M-2.7%	123M+6.8%	115M+3.0%	112M	N/A	N/A	82M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$119.6M+19.3%	$98.0M+10.6%	$114.6M+24.8%	$107.8M+20.4%	$100.3M+0.4%	$88.6M+14.4%	$91.8M+7.0%	$89.5M+33.1%
Gross Profit	$90.6M+9.0%	$75.8M+3.4%	$75.7M-3.2%	$75.5M+3.5%	$83.1M-2.2%	$73.3M+22.0%	$78.1M	$73.0M
R&D Expenses	$5.2M-35.0%	$5.2M+19.2%	$4.6M+24.3%	$13.7M+285.0%	$8.0M+211.8%	$4.4M+13.4%	$3.7M+55.6%	$3.6M-11.0%
SG&A Expenses	$34.6M+30.9%	$32.4M+18.0%	$32.1M+2.5%	$27.3M+4.1%	$26.4M-4.8%	$27.5M-9.6%	$31.3M+19.0%	$26.2M-8.4%
Operating Income	$50.9M+4.3%	$38.2M-7.9%	$39.0M-9.6%	$34.6M-20.0%	$48.8M-10.9%	$41.4M+60.5%	$43.1M	$43.2M
Interest Expense	$5.5M+17.3%	$5.4M+15.4%	$3.3M-30.3%	$4.0M-30.9%	$4.7M-19.6%	$4.7M-19.5%	$4.7M-20.2%	$5.8M+32.1%
Income Tax	-$24.6M-376.1%	$48.0M+500.0%	$30.9M+608.0%	$7.9M+40.3%	$8.9M+293.9%	$8.0M-6.9%	$4.4M+1421.8%	$5.6M+44.3%
Net Income	-$83.4M-231.0%	$186.6M+500.6%	$164.2M+707.4%	$89.9M+7312.0%	$63.7M+283.6%	-$46.6M-227.5%	$20.3M-67.0%	$1.2M-98.5%
EPS (Basic)	-$1.14-212.9%	$2.52+440.5%	$2.37+640.6%	$1.30+6400.0%	$1.01+283.6%	-$0.74-227.6%	$0.32-66.7%	$0.02-98.4%
EPS (Diluted)	-$1.14-248.1%	$2.22+400.0%	$1.95+529.0%	$1.08+5300.0%	$0.77+240.0%	-$0.74-260.9%	$0.31-58.7%	$0.02-98.0%
Diluted Shares (Avg)	73M-13.1%	85M+35.3%	N/A	85M+35.0%	84M+35.1%	63M-25.8%	N/A	63M-26.9%

Not reported in any period shown, so not listed: Cost of Revenue, EBITDA.

INVA Balance Sheet

INVA quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$1.6B+25.7%	$1.3B+4.6%	$1.2B+1.0%	$1.2B+32.9%	$926.4M-7.3%	$999.6M+37.9%	$724.8M+32.2%	$548.2M+49.2%	$367.3M-3.1%	$379.0M-7.3%	$408.9M-21.6%	$521.7M-23.4%	$681.3M+84.8%	$368.6M+42.4%	$258.8M
Current Assets	$727.5M+31.2%	$554.3M+61.0%	$344.2M-22.4%	$443.5M+41.4%	$313.7M-8.3%	$342.1M-20.7%	$431.2M+116.7%	$199.0M-0.7%	$200.4M+1.2%	$198.0M-7.6%	$214.3M-15.0%	$252.2M-47.8%	$483.2M+85.0%	$261.1M+6.7%	$244.8M
Cash & Equivalents	$550.9M+80.7%	$305.0M+57.6%	$193.5M-33.5%	$291.0M+44.4%	$201.5M-18.2%	$246.5M-11.4%	$278.1M+345.5%	$62.4M-14.9%	$73.3M-37.9%	$118.0M-25.9%	$159.2M+64.4%	$96.8M-32.5%	$143.5M+51.3%	$94.8M+111.8%	$44.8M
Short-Term Investments	$0	$0	$0	$0	$0	$0-100.0%	$72.7M+38.6%	$52.5M-5.8%	$55.7M+71.9%	$32.4M+15.4%	$28.1M-80.4%	$143.7M-55.3%	$321.6M+109.3%	$153.6M-21.7%	$196.1M
Inventory	$39.2M+16.2%	$33.7M-17.2%	$40.7M-27.1%	$55.9M	$0	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$10.4M+38.5%	$7.5M	N/A
Accounts Receivable	$35.0M+71.5%	$20.4M+41.1%	$14.5M+53.7%	$9.4M	$0	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$199K	$0	N/A
Long-Term Investments	$404.5M+18.4%	$341.7M-23.1%	$444.4M+22.1%	$363.9M-24.8%	$483.8M+10.4%	$438.3M	$0	$0	$0	$0	$0-100.0%	$42.9M-22.6%	$55.4M-41.8%	$95.2M	$0
Goodwill	$17.9M0.0%	$17.9M0.0%	$17.9M-33.0%	$26.7M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$462.3M-24.2%	$609.9M+7.3%	$568.6M-14.6%	$665.7M+30.1%	$511.7M+11.3%	$459.7M+11.7%	$411.3M+4.2%	$394.6M-35.3%	$610.2M-16.6%	$732.0M-2.6%	$751.6M+0.9%	$745.0M+95.0%	$382.1M+78.9%	$213.6M-38.2%	$345.8M
Current Liabilities	$49.7M-78.9%	$236.1M+519.1%	$38.1M-71.7%	$135.0M+2224.2%	$5.8M-5.0%	$6.1M+13.8%	$5.4M-5.8%	$5.7M-83.6%	$34.7M+73.3%	$20.0M+48.6%	$13.5M-1.9%	$13.8M-83.7%	$84.4M+181.7%	$30.0M-34.1%	$45.5M
Non-Current Liabilities	$412.6M+10.4%	$373.8M-29.5%	$530.4M-0.1%	$530.7M+4.9%	$505.8M+11.5%	$453.5M+11.7%	$406.0M+4.4%	$388.9M-32.4%	$575.5M-19.2%	$711.9M-3.5%	$738.1M+0.9%	$731.2M+145.6%	$297.7M+62.2%	$183.6M-38.9%	$300.3M
Long-Term Debt	$257.7M+0.6%	$256.3M-42.6%	$446.2M+0.5%	$444.2M+12.5%	$394.7M+2.4%	$385.5M+2.2%	$377.1M-1.5%	$382.9M-33.3%	$574.4M-18.9%	$708.3M-3.4%	$733.1M+1.0%	$725.6M+152.4%	$287.5M	N/A	N/A
Total Equity	$1.2B+69.7%	$691.2M+2.4%	$675.0M+19.3%	$565.8M+36.4%	$414.7M-23.2%	$539.9M+72.2%	$313.5M+104.1%	$153.6M+163.2%	-$242.9M+31.2%	-$353.0M-3.0%	-$342.6M-53.4%	-$223.3M-174.7%	$299.1M+92.9%	$155.0M+278.1%	-$87.1M
Retained Earnings	$269.4M+15089.9%	-$1.8M+92.9%	-$25.2M+87.7%	-$204.9M+55.1%	-$456.1M+36.8%	-$722.0M+23.7%	-$946.4M+14.3%	-$1.1B+26.4%	-$1.5B+8.2%	-$1.6B+3.5%	-$1.7B-1.1%	-$1.7B-11.2%	-$1.5B-12.8%	-$1.3B-1.4%	-$1.3B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$1.7B+27.7%	$1.8B+46.4%	$1.6B+25.7%	$1.4B+16.0%	$1.3B+8.9%	$1.3B-1.0%	$1.3B+4.6%	$1.2B+3.7%
Current Assets	$753.4M+15.6%	$772.6M+32.7%	$727.5M+31.2%	$684.6M+70.9%	$651.8M+81.9%	$582.0M+86.9%	$554.3M+61.0%	$400.6M+31.4%
Cash & Equivalents	$570.4M+43.5%	$603.1M+89.0%	$550.9M+80.7%	$476.5M+82.8%	$397.5M+83.2%	$319.1M+78.9%	$305.0M+57.6%	$260.6M+44.8%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$39.0M-20.5%	$38.8M-6.4%	$39.2M+16.2%	$38.4M+12.1%	$49.0M+33.6%	$41.5M+10.8%	$33.7M-17.2%	$34.2M-15.5%
Accounts Receivable	$50.8M+142.9%	$34.0M+104.0%	$35.0M+71.5%	$30.2M-1.2%	$20.9M-21.9%	$16.7M+17.9%	$20.4M+41.1%	$30.5M+184.1%
Long-Term Investments	$441.3M+48.4%	$413.1M+41.9%	$404.5M+18.4%	$343.8M-20.8%	$297.3M-33.1%	$291.1M-38.9%	$341.7M-23.1%	$434.2M+2.8%
Goodwill	$17.9M0.0%	$17.9M0.0%	$17.9M0.0%	$17.9M0.0%	$17.9M0.0%	$17.9M0.0%	$17.9M0.0%	$17.9M0.0%
Total Liabilities	$469.5M-24.1%	$494.9M-18.5%	$462.3M-24.2%	$419.2M-25.6%	$618.8M+10.6%	$607.5M+7.7%	$609.9M+7.3%	$563.1M+0.4%
Current Liabilities	$47.1M-80.9%	$36.6M-84.4%	$49.7M-78.9%	$48.5M-78.3%	$246.6M+774.2%	$234.7M+685.7%	$236.1M+519.1%	$223.8M+518.4%
Non-Current Liabilities	$422.4M+13.5%	$458.4M+23.0%	$412.6M+10.4%	$370.7M+9.2%	$372.2M-29.9%	$372.7M-30.2%	$373.8M-29.5%	$339.3M-35.3%
Long-Term Debt	$258.5M+0.6%	$258.1M+0.6%	$257.7M+0.6%	$257.4M+0.5%	$257.0M-42.5%	$256.7M-42.5%	$256.3M-42.6%	$256.0M-42.6%
Total Equity	$1.2B+72.5%	$1.3B+107.4%	$1.2B+69.7%	$1.0B+51.1%	$714.8M+7.4%	$646.9M-8.1%	$691.2M+2.4%	$668.5M+6.5%
Retained Earnings	$372.5M+2333.8%	$456.0M+1042.4%	$269.4M+15089.9%	$105.2M+575.5%	$15.3M+165.6%	-$48.4M-526.5%	-$1.8M+92.9%	-$22.1M+74.5%

INVA Cash Flow Statement

INVA quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$191.5M	$196.9M+4.4%	$188.7M+33.8%	$141.1M-30.1%	$201.7M-44.6%	$363.8M+16.2%	$313.1M+21.6%	$257.5M+15.2%	$223.5M+57.7%	$141.7M+132.4%	$61.0M+502.0%	$10.1M+107.7%	-$130.7M-0.9%	-$129.6M-1.6%	-$127.5M-44.3%	-$88.3M
Depreciation & Amortization	N/A	N/A	N/A	N/A	N/A	$13.8M-0.1%	$13.8M-0.2%	$13.9M0.0%	$13.9M-0.8%	$14.0M+0.2%	$14.0M+0.2%	$13.9M+14.4%	$12.2M+252.1%	$3.5M+6.4%	$3.3M-57.1%	$7.6M
Stock-Based Compensation	N/A	$9.5M+48.3%	$6.4M+9.2%	$5.8M-20.6%	$7.3M+264.3%	$2.0M+18.8%	$1.7M-17.4%	$2.1M-36.4%	$3.2M-67.1%	$9.8M+18.5%	$8.3M+20.7%	$6.9M-74.9%	$27.4M+6.6%	$25.7M+8.0%	$23.8M-4.5%	$24.9M
Capital Expenditures	$2.1M	$1.1M+318.9%	$270K-34.3%	$411K+513.4%	$67K	$0-100.0%	$13K+8.3%	$12K	$0	$0-100.0%	$278K+3871.4%	$7K-99.0%	$689K-74.8%	$2.7M+5.6%	$2.6M-28.6%	$3.6M
Free Cash Flow	$189.4M	$195.8M+3.9%	$188.4M+34.0%	$140.7M-30.3%	$201.7M-44.6%	$363.8M+16.2%	$313.1M+21.6%	$257.4M+15.2%	$223.5M+57.7%	$141.7M+133.5%	$60.7M+499.6%	$10.1M+107.7%	-$131.4M+0.7%	-$132.3M-1.7%	-$130.1M-41.5%	-$92.0M
Investing Cash Flow	$23.8M	$40.5M+163.5%	-$63.8M+4.5%	-$66.8M-17.9%	-$56.6M-229.5%	$43.7M+113.9%	-$314.9M-1649.4%	-$18.0M-611.6%	$3.5M+115.1%	-$23.2M-407.3%	-$4.6M-102.9%	$159.2M+344.6%	-$65.1M+70.4%	-$219.6M-276.7%	-$58.3M	N/A
Financing Cash Flow	-$42.4M	$8.6M+163.6%	-$13.5M+92.2%	-$171.8M-209.2%	-$55.6M+87.7%	-$452.5M-1419.2%	-$29.8M-25.3%	-$23.8M+90.0%	-$238.0M-45.8%	-$163.2M-67.3%	-$97.6M+8.7%	-$106.9M-171.7%	$149.1M-62.5%	$397.8M+68.7%	$235.9M	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$11K-86.3%	$80K-71.5%	$281K-70.7%	$960K-98.9%	$87.3M+53.2%	$57.0M	$0	$0	N/A
Share Buybacks	$55.8M	$4.5M-69.3%	$14.8M-80.5%	$75.7M+790.6%	$8.5M-97.8%	$394.1M	$0	$0	$0-100.0%	$97.5M+24.8%	$78.1M+204.6%	$25.6M	$0	$0	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$52.0M+17.9%	$35.3M-27.4%	$54.5M-8.0%	$49.7M+2.1%	$44.1M+0.8%	$48.6M+31.2%	$59.2M+78.1%	$48.7M+10.8%
Stock-Based Compensation	$4.7M+95.8%	$2.6M+19.6%	N/A	$2.4M+48.5%	$2.4M+47.4%	$2.1M+47.6%	N/A	$1.6M+11.2%
Capital Expenditures	$429K	$492K	$10K	$1.1M+315.2%	$0	$0	$0-100.0%	$270K+18.9%
Free Cash Flow	$51.5M+16.9%	$34.8M-28.4%	$54.5M-8.0%	$48.6M+0.4%	$44.1M+0.8%	$48.6M+31.2%	$59.2M+78.9%	$48.4M+10.8%
Investing Cash Flow	-$55.3M-266.8%	$37.0M+206.7%	$23.6M+252.7%	$18.4M+449.4%	$33.1M	-$34.7M+19.4%	-$15.5M-200.5%	-$5.3M+79.6%
Financing Cash Flow	-$29.4M-2458.1%	-$20.1M-11108.7%	-$3.7M-749.4%	$10.8M+5038.4%	$1.2M+124.6%	$183K+102.0%	$573K+103.9%	$211K+101.9%
Share Buybacks	$31.1M	$20.2M	$4.5M	$0	$0-100.0%	$0-100.0%	$0-100.0%	$0-100.0%

Not reported in any period shown, so not listed: Depreciation & Amortization, Dividends Paid.

INVA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

INVA quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	74.8%-7.8pp	82.6%+3.3pp	79.3%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	39.8%-6.7pp	46.5%+9.8pp	36.7%	N/A	95.7%+0.4pp	95.3%+1.0pp	94.4%+3.1pp	91.3%+6.7pp	84.5%+2.9pp	81.6%+23.1pp	58.5%	-402.3%	-635.4%	-448.0%	-447.7%
Net Margin	65.9%+59.4pp	6.5%-51.4pp	57.9%-8.6pp	66.5%-27.6pp	94.1%+6.9pp	87.2%+14.1pp	73.2%	155.7%	61.8%+17.2pp	44.6%+79.3pp	-34.8%	-1997.7%	-3766.6%	-330.3%	-470.6%
Return on Equity	23.1%+19.7pp	3.4%-23.3pp	26.6%-12.3pp	38.9%-50.0pp	88.9%+34.5pp	54.4%-6.5pp	60.9%-203.7pp	264.6%	N/A	N/A	N/A	N/A	-57.1%-45.1pp	-12.0%	N/A
Return on Assets	16.6%+14.8pp	1.8%-12.7pp	14.4%-3.4pp	17.9%-21.9pp	39.8%+10.4pp	29.4%+3.0pp	26.4%-47.8pp	74.1%+37.6pp	36.5%+20.8pp	15.7%+20.3pp	-4.6%+27.7pp	-32.3%-7.2pp	-25.1%-20.0pp	-5.0%+39.5pp	-44.6%
Current Ratio	14.64+12.3x	2.35-6.7x	9.03+5.7x	3.29-50.7x	54.02-2.0x	55.98-24.3x	80.29+45.4x	34.92+29.2x	5.77-4.1x	9.88-6.0x	15.89-2.4x	18.33+12.6x	5.72-3.0x	8.71+3.3x	5.38
Debt-to-Equity	0.22-0.2x	0.37-0.3x	0.66-0.1x	0.79-0.2x	0.95+0.2x	0.71-0.5x	1.20-1.3x	2.49	N/A	N/A	N/A	N/A	0.96-0.4x	1.38	N/A
Asset Turnover	0.250.0x	0.280.0x	0.250.0x	0.27-0.2x	0.42+0.1x	0.340.0x	0.36-0.1x	0.48-0.1x	0.59+0.2x	0.35+0.2x	0.13+0.1x	0.020.0x	0.010.0x	0.02-0.1x	0.09
FCF Margin	47.6%-4.9pp	52.5%+7.2pp	45.3%-15.6pp	60.9%-32.0pp	92.8%-0.1pp	93.0%-5.7pp	98.6%+13.0pp	85.6%+20.4pp	65.3%+19.8pp	45.5%+26.7pp	18.8%	-1558.3%	-2920.0%	-2317.9%	-375.2%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	75.8%-7.1pp	77.4%-5.3pp	66.0%-19.1pp	70.1%-11.5pp	82.9%-2.2pp	82.7%+5.2pp	85.1%	81.6%
Operating Margin	42.5%-6.1pp	38.9%-7.8pp	34.0%-13.0pp	32.1%-16.2pp	48.6%-6.1pp	46.7%+13.4pp	47.0%	48.3%
Net Margin	-69.8%-133.3pp	190.4%	143.2%	83.4%+82.0pp	63.5%+98.2pp	-52.6%-99.7pp	22.1%-49.5pp	1.4%
Return on Equity	-6.8%-15.7pp	13.9%+21.1pp	14.0%+11.1pp	8.9%+8.7pp	8.9%+14.1pp	-7.2%-12.4pp	2.9%-6.2pp	0.2%-12.9pp
Return on Assets	-4.9%-9.7pp	10.2%+13.9pp	10.0%+8.5pp	6.3%+6.2pp	4.8%+7.6pp	-3.7%-6.6pp	1.6%-3.4pp	0.1%-6.8pp
Current Ratio	16.01+13.4x	21.13+18.7x	14.64+12.3x	14.12+12.3x	2.64-10.1x	2.48-7.9x	2.35-6.7x	1.79-6.6x
Debt-to-Equity	0.21-0.1x	0.19-0.2x	0.22-0.2x	0.25-0.1x	0.36-0.3x	0.40-0.2x	0.37-0.3x	0.38-0.3x
Asset Turnover	0.070.0x	0.050.0x	0.070.0x	0.080.0x	0.080.0x	0.070.0x	0.070.0x	0.070.0x
FCF Margin	43.1%-0.9pp	35.5%-19.4pp	47.5%-17.0pp	45.1%-9.0pp	44.0%+0.2pp	54.9%+7.1pp	64.5%+26.0pp	54.1%-10.9pp

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Innoviva, Inc. INVA	FY2025	$411.3M	$271.2M	65.9%	$1.5B	83/100
Amylyx Pharmaceuticals, Inc. AMLX	FY2025	$0	-$144.7M	N/A	$3.5B	—
Intellia Therapeutics, Inc NTLA	FY2025	$67.7M	-$412.7M	N/A	$1.8B	65/100
Arcus Biosciences, Inc. RCUS	FY2025	$247.0M	-$353.0M	N/A	$3.1B	61/100
Xeris Biopharma Holdings, Inc. XERS	FY2025	$291.8M	$554K	0.2%	$1.9B	37/100
Dianthus Therapeutics, Inc. DNTH	FY2025	$2.0M	-$162.3M	N/A	$4.6B	55/100

Where Innoviva, Inc. Ranks

Frequently Asked Questions

What is Innoviva, Inc.'s annual revenue?

Innoviva, Inc. (INVA) reported $411.3M in total revenue for fiscal year 2025. This represents a 14.7% 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, Inc.'s revenue growing?

Innoviva, Inc. (INVA) revenue grew by 14.7% year-over-year, from $358.7M to $411.3M in fiscal year 2025.

Is Innoviva, Inc. profitable?

Yes, Innoviva, Inc. (INVA) reported a net income of $271.2M in fiscal year 2025, with a net profit margin of 65.9%.

How much debt does Innoviva, Inc. have?

As of fiscal year 2025, Innoviva, Inc. (INVA) had $550.9M in cash and equivalents against $257.7M in long-term debt.

What is Innoviva, Inc.'s gross margin?

Innoviva, Inc. (INVA) had a gross margin of 74.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Innoviva, Inc.'s operating margin?

Innoviva, Inc. (INVA) had an operating margin of 39.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Innoviva, Inc.'s net profit margin?

Innoviva, Inc. (INVA) had a net profit margin of 65.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Innoviva, Inc.'s return on equity (ROE)?

Innoviva, Inc. (INVA) has a return on equity of 23.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Innoviva, Inc.'s free cash flow?

Innoviva, Inc. (INVA) generated $195.8M in free cash flow during fiscal year 2025. This represents a 3.9% 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, Inc.'s operating cash flow?

Innoviva, Inc. (INVA) generated $196.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Innoviva, Inc.'s total assets?

Innoviva, Inc. (INVA) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Innoviva, Inc.'s capital expenditures?

Innoviva, Inc. (INVA) invested $1.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Innoviva, Inc. spend on research and development?

Innoviva, Inc. (INVA) invested $30.6M in research and development during fiscal year 2025.

Does Innoviva, Inc. buy back shares?

Yes, Innoviva, Inc. (INVA) spent $4.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Innoviva, Inc. have outstanding?

Innoviva, Inc. (INVA) had 74M shares outstanding as of fiscal year 2025.

What is Innoviva, Inc.'s current ratio?

Innoviva, Inc. (INVA) had a current ratio of 14.64 as of fiscal year 2025, which is generally considered healthy.

What is Innoviva, Inc.'s debt-to-equity ratio?

Innoviva, Inc. (INVA) had a debt-to-equity ratio of 0.22 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Innoviva, Inc.'s return on assets (ROA)?

Innoviva, Inc. (INVA) had a return on assets of 16.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Innoviva, Inc.'s P/E ratio?

Innoviva, Inc. (INVA) trades at 4.3x earnings, its market capitalization divided by net income of $357.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.5B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Innoviva, Inc.'s price-to-sales ratio?

Innoviva, Inc. (INVA) trades at 3.5x sales, its market capitalization divided by revenue of $440.0M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.5B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Innoviva, Inc.'s Altman Z-Score?

Innoviva, Inc. (INVA) has an Altman Z-Score of 3.30, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Innoviva, Inc.'s Piotroski F-Score?

Innoviva, Inc. (INVA) has a Piotroski F-Score of 5 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Innoviva, Inc.'s earnings high quality?

Innoviva, Inc. (INVA) has an earnings quality ratio of 0.73x, considered mixed 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.

Can Innoviva, Inc. cover its interest payments?

Innoviva, Inc. (INVA) has an interest coverage ratio of 9.81x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Innoviva, Inc.?

Innoviva, Inc. (INVA) scores 83 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.