InnovAge Holding Corp. (INNV) AI Stock Analysis

Headquartered in Denver, Colorado, InnovAge Holding Corp. manages and delivers medical and ancillary services tailored to help seniors maintain independence within their homes and communities. Operating under the Program of All-Inclusive Care for the Elderly (PACE) model, the company provides in-home care services, including skilled nursing and personal care assistance. It also operates in-center services delivering primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health care, psychiatric services, nutritious meals, engaging activities, and transportation. As of June 30, 2022, InnovAge served approximately 6,650 PACE participants across 18 PACE centers in Colorado, California, New Mexico, Pennsylvania, and Virginia.

InnovAge generated a 5-year revenue compound annual growth rate of 9.2% from FY2021 to FY2026. Annual revenue grew from $698.6M in FY2022 to $688.1M in FY2023, $763.9M in FY2024, $853.7M in FY2025, and $989.7M in FY2026, reflecting 15.9% growth in FY2026. Operating margin improved from -0.6% in FY2022 to 6.7% in FY2026, while gross margin was 20.9% in FY2026 compared to 68.5% in FY2025. Annual net income was -$2.5M in FY2026, narrowing from -$30.3M in FY2025, with EPS of $0.40. In the latest quarter ending June 30, 2026, quarterly revenue grew 18.3% year-over-year, while quarterly earnings declined 87.8%.

As of June 30, 2026, InnovAge reported $141.3M in cash and short-term investments against total debt of $87.0M, resulting in net cash of $54.4M. Shareholders' equity stood at $235.6M out of $557.4M in total assets. The company's current ratio was 1.05 and debt-to-equity was 0.37. Operating cash flow rose to $64.7M in FY2026, supporting free cash flow of $50.4M after capital expenditures of $14.3M. Over the past five years, the company's share count changed by 1.2%.

InnovAge trades at an enterprise value of $1.17B and a market cap of $1.21B. Its forward P/E of 13.7x sits below the 17.3x median of its US-listed Healthcare peers. The company's price-to-sales multiple is 1.2x compared to the peer median of 4.1x, while its EV/EBITDA of 45.7x is above the peer median of 12.0x. Over the past year, INNV stock delivered a return of 60.9%, outperforming the S&P 500 return of 16.8%. Over five years, INNV gained 37.9% compared to 83.0% for the S&P 500.

Wall Street coverage includes 1 Strong Buy, 1 Hold, and 1 Sell rating. The mean price target is $12.00, representing a 35.6% premium over the last close of $8.85 on October 16, 2026. InnovAge beat EPS estimates in 3 of the last 4 quarters. For the fiscal year ending June 30, 2027, analysts project revenue of $1.07B and EPS of $0.45. For the following fiscal year, 1 analyst estimates revenue of $1.16B and EPS of $0.50. The next earnings release date is November 3, 2026.

This page is an AI-written research summary of InnovAge Holding Corp. (INNV). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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