# InnovAge Holding Corp. (INNV) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Healthcare / Health Care Equipment & Supplies. Price $10.75, market value $1.5 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). InnovAge Holding Corp. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 1.5×**. Each dollar of revenue is priced at 1.5×.
- **Price / book: 6.4×**. The shares trade at 6.4× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 171.1×**. Enterprise value is 171.1× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 2.9%** (5-yr avg -0.9%). Free cash flow equals 2.9% of the market value, above its five-year average of -0.9%, so the shares are cheaper on cash than they have usually been.

## Profitability
- **Gross margin: 21.8%**. InnovAge Holding Corp. keeps 21.8% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: -1.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -3.6%**. The company reported a net loss over the last twelve months.
- **Return on equity: -12.9%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -3.3%**. Return on all capital, debt included, is -3.3%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -2.2%**. Each dollar of assets produces -2.2% of profit.

## Growth
- **Revenue growth (1 yr): 11.8%** (3-yr 6.9%/yr, 5-yr 8.5%/yr). Revenue grew 11.8% over the last year, against 8.5% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -37.5%**. Earnings per share fell 37.5%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.25**. Debt is 0.25 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. InnovAge Holding Corp. holds more cash than debt.
- **Altman Z-score: 5.38**. A Z-score of 5.38 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. InnovAge Holding Corp. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): 194.5%** (YTD 107.1%, 3-mo 47.3%). The shares are up 194.5% over twelve months including dividends.
- **From 52-week high: -15.0%** (181.6% above the low). Trading 15% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 47**. An RSI of 47 is neutral.
- **Beta (1 yr): 1.02** (volatility 80%). Beta of 1.02 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=INNV · Page: https://foliofundamentals.com/stocks/innv

Not investment advice.