Innoviva, Inc. (INVA) Balance Sheet
INVA balance sheet, 2025
December 31, 2025 · U.S. dollars$1.64B assets = $462.3M liabilities + $1.17B equity
Both columns are drawn to the same scale: what INVA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
INVA financial health
Descriptive bands, not a rating. Fiscal 2025.
INVA balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $379.0M2016 | $1.64B2025 | +17.6%/yr | |
| Total liabilities | $732.0M2016 | $462.3M2025 | −5.0%/yr | |
| Shareholders’ equity | −$353.0M2016 | $1.17B2025 | — | |
| Cash & short-term investments | $150.4M2016 | $550.9M2025 | +15.5%/yr | |
| Total debt | $716.1M2016 | $269.0M2025 | −10.3%/yr | |
| Net cash (debt) | −$565.7M2016 | $281.9M2025 | +$847.6M | |
| Working capital | $178.0M2016 | $677.8M2025 | +$499.8M | |
| Book value per share | −$2.862016 | $13.842025 | — | |
| Debt / equity | 2.492018 | 0.232025 | −2.26 | |
| Shares outstanding | 123.2M2016 | 84.8M2025 | −4.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
INVA assets
INVA liabilities and equity
INVA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
INVA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $550.9M | $412.5M | $193.5M | $291.0M | $201.5M | $246.5M | $350.8M | $114.9M | $129.1M | $150.4M |
| Cash & equivalents | $550.9M | $305.0M | $193.5M | $291.0M | $201.5M | $246.5M | $278.1M | $62.4M | $73.3M | $118.0M |
| Short-term investments | $15.7M | $107.5M | $0 | $403.0M | $483.8M | $438.3M | $72.7M | $52.5M | $55.7M | $32.4M |
| Receivables | $35.0M | $86.4M | $84.1M | $64.1M | $110.7M | $93.9M | $79.4M | $83.3M | $70.5M | $46.8M |
| Inventory | $39.2M | $33.7M | $40.7M | $55.9M | −$110.7M | −$93.9M | −$79.4M | −$83.3M | −$754,000 | −$46.8M |
| Other current assets | $102.4M | $21.7M | $25.9M | $32.5M | $112.1M | $95.6M | $80.4M | $84.1M | $754,000 | $47.6M |
| Total current assets | $727.5M | $554.3M | $344.2M | $443.5M | $313.7M | $342.1M | $431.2M | $199.0M | $199.6M | $198.0M |
| Property, plant & equipment (net) | $12.5M | $3.0M | $3.0M | $3.4M | $109,000 | $28,000 | $33,000 | $160,000 | $209,000 | $368,000 |
| Goodwill & intangible assets | $200.1M | $226.3M | $248.2M | $279.6M | $111.4M | $93.9M | $139.1M | $152.9M | $166.7M | $180.5M |
| Long-term investments | $598.2M | $394.0M | $561.0M | $403.0M | $483.8M | $438.3M | $0 | $0 | $0 | $0 |
| Other non-current assets | $96.9M | $123.5M | $87.1M | $101.9M | $17.3M | $125.3M | $154.5M | $196.1M | $791,000 | $37,000 |
| Total assets | $1.64B | $1.30B | $1.24B | $1.23B | $926.4M | $999.6M | $724.8M | $548.2M | $367.3M | $379.0M |
| Liabilities | ||||||||||
| Accounts payable | $5.0M | $2.1M | $6.7M | $2.9M | $27,000 | $66,000 | $10,000 | $11,000 | $601,000 | $128,000 |
| Short-term debt | $418,000 | $193.6M | $1.2M | $97.5M | $106,000 | $25.0M | — | — | $25.0M | $7.8M |
| Deferred revenue | $4.3M | $1.1M | $1.3M | $2.1M | −$106,000 | — | — | — | −$19.7M | $885,000 |
| Total current liabilities | $49.7M | $236.1M | $38.1M | $135.0M | $5.8M | $6.1M | $5.4M | $5.7M | $34.7M | $20.0M |
| Long-term debt | $257.7M | $256.3M | $446.2M | $540.4M | $394.7M | $385.5M | $377.1M | $382.9M | $574.4M | $708.3M |
| Lease obligations | $11.3M | $2.8M | $2.8M | $3.7M | $106,000 | — | — | — | — | — |
| Other long-term liabilities | $154.9M | $117.5M | $84.2M | $0 | $0 | $106,000 | $219,000 | $586,000 | $940,000 | $3.6M |
| Total liabilities | $462.3M | $609.9M | $568.6M | $665.7M | $400.5M | $391.7M | $382.7M | $389.1M | $610.0M | $732.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $747,000 | $627,000 | $633,000 | $692,000 | $696,000 | $1.0M | $1.0M | $1.0M | $1.26B | $1.1M |
| Retained earnings (deficit) | $269.4M | −$1.8M | −$25.2M | −$204.9M | −$456.1M | −$722.0M | −$946.4M | −$1.10B | −$1.50B | −$1.63B |
| Treasury stock | — | — | — | — | — | — | — | — | −$3.3M | −$3.3M |
| Accumulated other comprehensive income | — | — | $0 | — | $0 | $0 | $27,000 | −$3,000 | −$18,000 | $1,000 |
| Minority interest | — | $0 | $0 | $0 | $111.2M | $67.9M | — | $5.5M | $152,000 | $0 |
| Total shareholders' equity | $1.17B | $691.2M | $675.0M | $565.8M | $414.7M | $607.8M | $313.5M | $153.6M | −$242.9M | −$353.0M |
| Key figures | ||||||||||
| Total debt | $269.0M | $451.1M | $449.1M | $544.1M | $394.8M | $410.5M | $377.1M | $382.9M | $599.4M | $716.1M |
| Net cash (debt) | $281.9M | −$38.6M | −$255.6M | −$253.0M | −$193.2M | −$164.0M | −$26.3M | −$267.9M | −$470.3M | −$565.7M |
| Working capital | $677.8M | $318.2M | $306.1M | $308.5M | $307.9M | $335.9M | $425.9M | $193.3M | $164.9M | $178.0M |
| Tangible book value | $972.8M | $464.8M | $426.7M | $286.2M | $303.3M | $513.9M | $174.4M | $684,000 | −$409.6M | −$533.5M |
| Book value per share | $13.84 | $9.32 | $7.77 | $5.94 | $4.40 | $5.35 | $2.76 | $1.35 | −$2.03 | −$2.86 |
| Shares outstanding | 84.8M | 74.2M | 86.9M | 95.2M | 94.3M | 113.6M | 113.4M | 113.4M | 119.9M | 123.2M |
| Current ratio | 14.64 | 2.35 | 9.03 | 3.29 | 54.02 | 55.98 | 80.29 | 34.92 | 5.75 | 9.88 |
| Quick ratio | 11.79 | 2.11 | 7.28 | 2.63 | 53.77 | 55.71 | 80.11 | 34.77 | 5.75 | 9.84 |
| Debt / equity | 0.23 | 0.65 | 0.67 | 0.96 | 0.95 | 0.68 | 1.20 | 2.49 | — | — |
| Equity / assets | 71.7% | 53.1% | 54.3% | 45.9% | 44.8% | 60.8% | 43.3% | 28.0% | −66.1% | −93.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $579.1M | $611.9M | $550.9M | $533.1M | $497.7M | $446.9M | $412.5M | $260.6M | $217.0M | $178.4M | $193.5M | $180.0M |
| Cash & equivalents | $570.4M | $603.1M | $550.9M | $476.5M | $397.5M | $319.1M | $305.0M | $260.6M | $217.0M | $178.4M | $193.5M | $180.0M |
| Short-term investments | $8.7M | $8.8M | $15.7M | $56.6M | $100.2M | $127.8M | $107.5M | — | — | — | $0 | −$422.5M |
| Receivables | $110.6M | $92.6M | $35.0M | $93.5M | $88.3M | $77.9M | $86.4M | $91.1M | $94.0M | $76.0M | $84.1M | $67.8M |
| Inventory | $39.0M | $38.8M | $39.2M | $38.4M | $49.0M | $41.5M | $33.7M | $34.2M | $36.7M | $37.4M | $40.7M | $40.5M |
| Other current assets | $24.7M | $29.2M | $102.4M | $19.6M | $16.8M | $15.7M | $21.7M | $14.7M | $10.6M | $19.5M | $25.9M | $16.7M |
| Total current assets | $753.4M | $772.6M | $727.5M | $684.6M | $651.8M | $582.0M | $554.3M | $400.6M | $358.3M | $311.3M | $344.2M | $305.0M |
| Property, plant & equipment (net) | $12.5M | $12.8M | $12.5M | $2.9M | $2.2M | $2.6M | $3.0M | $3.3M | $3.5M | $2.6M | $3.0M | $3.2M |
| Goodwill & intangible assets | $186.9M | $193.5M | $200.1M | $204.1M | $213.3M | $219.9M | $226.3M | $228.8M | $235.4M | $241.8M | $248.2M | $254.8M |
| Long-term investments | $660.9M | $764.5M | $598.2M | $426.4M | $349.1M | $329.8M | $394.0M | $507.7M | $536.4M | $628.4M | $561.0M | $529.5M |
| Other non-current assets | $89.1M | $93.2M | $96.9M | $111.1M | $117.2M | $120.1M | $123.5M | $91.1M | $91.3M | $83.4M | $87.1M | $95.6M |
| Total assets | $1.70B | $1.84B | $1.64B | $1.43B | $1.33B | $1.25B | $1.30B | $1.23B | $1.22B | $1.27B | $1.24B | $1.19B |
| Liabilities | ||||||||||||
| Accounts payable | $4.0M | $6.5M | $5.0M | $6.2M | $5.4M | $4.7M | $2.1M | $4.2M | $2.0M | $890,000 | $6.7M | $3.8M |
| Short-term debt | $712,000 | $5.3M | $418,000 | $8.4M | $192.9M | $193.5M | $193.6M | $193.4M | $1.5M | $1.3M | $1.2M | $1.2M |
| Deferred revenue | $6.0M | $3.7M | $4.3M | $13.6M | $3.1M | $1.0M | $1.1M | $717,000 | $855,000 | $987,000 | $1.3M | $1.5M |
| Total current liabilities | $47.1M | $36.6M | $49.7M | $48.5M | $246.6M | $234.7M | $236.1M | $223.8M | $28.2M | $29.9M | $38.1M | $36.2M |
| Long-term debt | $258.5M | $258.1M | $257.7M | $257.4M | $257.0M | $256.7M | $256.3M | $256.0M | $447.3M | $446.8M | $446.2M | $445.7M |
| Lease obligations | $11.2M | $11.3M | $11.3M | $1.6M | $2.0M | $2.4M | $2.8M | $3.1M | $3.4M | $2.6M | $2.8M | $3.2M |
| Other long-term liabilities | $163.9M | $200.3M | $154.9M | $113.3M | $115.2M | $116.1M | $117.5M | $83.3M | $83.9M | $87.3M | $84.2M | $78.7M |
| Total liabilities | $469.5M | $494.9M | $462.3M | $419.2M | $618.8M | $607.5M | $609.9M | $563.1M | $559.4M | $563.9M | $568.6M | $560.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $727,000 | $738,000 | $747,000 | $748,000 | $630,000 | $628,000 | $627,000 | $626,000 | $626,000 | $628,000 | $633,000 | $644,000 |
| Retained earnings (deficit) | $372.5M | $456.0M | $269.4M | $105.2M | $15.3M | −$48.4M | −$1.8M | −$22.1M | −$23.3M | $11.3M | −$25.2M | −$86.7M |
| Accumulated other comprehensive income | — | — | — | $0 | — | — | — | — | $0 | — | $0 | $0 |
| Total shareholders' equity | $1.23B | $1.34B | $1.17B | $1.01B | $714.8M | $646.9M | $691.2M | $668.5M | $665.5M | $703.7M | $675.0M | $627.5M |
| Key figures | ||||||||||||
| Total debt | $269.7M | $331.4M | $269.0M | $323.2M | $450.9M | $451.3M | $451.1M | $450.9M | $450.7M | $449.3M | $449.1M | $448.9M |
| Net cash (debt) | $309.4M | $280.5M | $281.9M | $209.9M | $46.8M | −$4.4M | −$38.6M | −$190.3M | −$233.7M | −$271.0M | −$255.6M | −$268.9M |
| Working capital | $706.3M | $736.1M | $677.8M | $636.1M | $405.2M | $347.3M | $318.2M | $176.9M | $330.1M | $281.5M | $306.1M | $268.8M |
| Tangible book value | $1.05B | $1.15B | $972.8M | $805.9M | $501.5M | $427.0M | $464.8M | $439.7M | $430.2M | $461.9M | $426.7M | $372.7M |
| Book value per share | $16.80 | $15.81 | $13.76 | $11.89 | $8.46 | $10.32 | $8.21 | $10.62 | $10.64 | $8.32 | $7.94 | $7.28 |
| Shares outstanding | 73.4M | 84.8M | 85.3M | 85.0M | 84.5M | 62.7M | 84.2M | 63.0M | 62.5M | 84.5M | 85.0M | 86.2M |
| Current ratio | 16.01 | 21.13 | 14.64 | 14.12 | 2.64 | 2.48 | 2.35 | 1.79 | 12.70 | 10.42 | 9.03 | 8.43 |
| Quick ratio | 14.65 | 19.27 | 11.79 | 12.93 | 2.38 | 2.24 | 2.11 | 1.57 | 11.03 | 8.51 | 7.28 | 6.85 |
| Debt / equity | 0.22 | 0.25 | 0.23 | 0.32 | 0.63 | 0.70 | 0.65 | 0.67 | 0.68 | 0.64 | 0.67 | 0.72 |
| Equity / assets | 72.4% | 73.1% | 71.7% | 70.7% | 53.6% | 51.6% | 53.1% | 54.3% | 54.3% | 55.5% | 54.3% | 52.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
INVA financial position
At the end of fiscal 2025 (December 31, 2025), Innoviva had total assets of $1.6 billion (up 25.7% from a year earlier), total liabilities of $462.3 million and shareholders' equity of $1.2 billion. It held $550.9 million in cash and short-term investments against $269.0 million of debt, a net cash position of $281.9 million. Its current ratio was 14.64. In the latest quarter (ended June 30, 2026) total assets were $1.7 billion and equity $1.2 billion.
Related: INVA income statement, INVA cash flow statement, INVA key metrics. See the INVA stock overview for the latest quote and news.
INVA balance sheet FAQ
What are Innoviva's total assets?
Innoviva reported total assets of $1.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.3 billion a year earlier.
How much debt does Innoviva have?
Innoviva had $269.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.23.
How much cash does Innoviva have?
Innoviva held $550.9 million in cash and short-term investments at the end of fiscal 2025; with $269.0 million of debt that is net cash of $281.9 million.
What is Innoviva's book value?
Innoviva's shareholders' equity (book value) was $1.2 billion at the end of fiscal 2025, or $13.84 per share.
What is Innoviva's current ratio?
Innoviva had current assets of $727.5 million and current liabilities of $49.7 million, a current ratio of 14.64 (it can cover its short-term obligations).
How much goodwill does Innoviva have?
Innoviva carried $200.1 million of goodwill and intangible assets, 12.2% of total assets, at the end of fiscal 2025.