Innovex International, Inc (INVX) Key Metrics
INVX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.96B
- Enterprise value
- $1.84B
- P/E (TTM)
- 31.5 10-yr median 18.2
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 2.0 10-yr median 2.6
- Price / book
- 1.9 10-yr median 1.5
- EV / EBITDA
- 8.5 10-yr median 9.7
- Dividend yield
- —
- Beta
- 1.15
INVX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsINVX valuation Price multiples at each fiscal year-end price.
INVX returns How much profit the business earns on the capital it uses.
INVX per-share figures Results divided by the shares outstanding at year-end.
INVX financial health Debt, liquidity and how easily interest is covered.
INVX efficiency & capital use Working capital cycle and where the cash goes.
INVX valuation history
INVX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
INVX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
INVX cash returned to shareholders
INVX price vs earnings per share
INVX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.52B | $707.3M | $1.18B | $424.5M | $694.3M | $1.04B | $1.70B | $1.11B | $1.79B | $2.26B |
| Enterprise value | $1.43B | $725.0M | $1.25B | $530.7M | $723.7M | $705.6M | $1.30B | $714.2M | $1.33B | $1.84B |
| P/E ratio | 18.2 | 5.0 | 15.9 | 6.7 | 70.5 | — | 986.0 | — | — | 24.3 |
| Price / sales | 1.6 | 1.1 | 2.1 | 0.9 | 2.4 | 2.9 | 4.1 | 2.9 | 3.9 | 4.2 |
| Price / book | 1.4 | 0.7 | 3.6 | 1.7 | 3.8 | 1.0 | 1.6 | 1.0 | 1.4 | 1.7 |
| Price / free cash flow | 9.7 | 8.9 | 19.5 | — | — | — | 533.8 | 82.8 | 22.2 | 10.2 |
| Price / operating cash flow | 7.9 | 7.6 | 15.5 | — | — | — | 115.5 | 24.5 | 16.5 | 9.2 |
| EV / sales | 1.5 | 1.1 | 2.3 | 1.1 | 2.5 | 1.9 | 3.1 | 1.9 | 2.9 | 3.4 |
| EV / EBITDA | 7.0 | 3.9 | 9.7 | 5.2 | 21.5 | — | 29.1 | — | — | 12.4 |
| EV / free cash flow | 9.2 | 9.1 | 20.8 | — | — | — | 410.0 | 53.1 | 16.5 | 8.3 |
| Earnings yield | 5.5% | 19.8% | 6.3% | 14.9% | 1.4% | −2.9% | 0.1% | −8.6% | −5.6% | 4.1% |
| Free cash flow yield | 10.3% | 11.3% | 5.1% | −3.6% | −1.2% | −3.2% | 0.2% | 1.2% | 4.5% | 9.8% |
| Dividend yield | 0.0% | 10.6% | 0.0% | 0.0% | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.6% | 10.6% | 0.0% | 0.3% | 0.0% | 2.4% | 1.6% | 9.0% | — | 1.1% |
| Share price at fiscal year-end | $21.87 | $13.97 | $23.27 | $27.17 | $19.68 | $29.62 | $46.91 | $30.03 | $47.70 | $60.05 |
| Per share | ||||||||||
| Revenue per share | $14.10 | $13.05 | $10.99 | $29.90 | $8.36 | $10.35 | $11.47 | $10.37 | $12.16 | $14.30 |
| Earnings per share | $1.20 | $2.77 | $1.46 | $4.05 | $0.28 | −$0.87 | $0.05 | −$2.58 | −$2.69 | $2.47 |
| Operating cash flow per share | $2.75 | $1.85 | $1.50 | −$0.37 | −$0.06 | −$0.60 | $0.41 | $1.23 | $2.88 | $6.54 |
| Free cash flow per share | $2.25 | $1.58 | $1.19 | −$0.98 | −$0.24 | −$0.94 | $0.09 | $0.36 | $2.15 | $5.86 |
| Cash per share | $2.93 | $1.45 | $0.15 | $0.54 | $0.28 | $9.81 | $11.04 | $11.28 | $13.17 | $11.24 |
| Book value per share | $15.24 | $18.93 | $6.51 | $16.08 | $5.12 | $29.54 | $30.17 | $29.57 | $34.56 | $36.01 |
| Tangible book value per share | $12.13 | $15.60 | $5.21 | $11.36 | $3.63 | $28.71 | $29.06 | $28.41 | $32.26 | $34.31 |
| Dividends per share | $0.00 | $1.48 | $0.00 | $0.00 | — | — | — | — | — | — |
| Capex per share | $0.51 | $0.27 | $0.31 | $0.61 | $0.18 | $0.34 | $0.32 | $0.86 | $0.74 | $0.68 |
| Debt per share | $1.73 | $1.80 | $1.68 | $7.33 | $1.11 | $0.20 | $0.15 | $0.51 | $0.98 | — |
| Shares outstanding | 69.4M | 50.6M | 50.6M | 15.6M | 35.3M | 35.3M | 36.2M | 37.1M | 37.5M | 37.7M |
| Change in shares outstanding | +37.0% | +0.1% | +223.6% | −55.7% | +0.0% | −2.5% | −2.5% | −1.0% | −0.6% | −2.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 8.3% | 21.8% | 25.5% | 29.3% | 1.6% | −2.9% | 0.2% | −8.0% | −7.6% | 7.0% |
| Return on invested capital (ROIC) | 7.6% | 7.0% | 20.0% | 23.2% | 2.2% | −2.1% | 0.4% | −3.2% | −0.7% | 7.5% |
| Return on assets (ROA) | 6.8% | 16.8% | 16.2% | 17.5% | 1.4% | −2.6% | 0.1% | −7.4% | −7.0% | 6.5% |
| Return on tangible assets | 7.9% | 13.6% | 18.1% | 17.5% | 4.2% | −2.7% | 0.1% | −8.3% | −7.7% | 6.7% |
| Free cash flow margin | 15.9% | 12.1% | 10.9% | −3.3% | −2.9% | −9.1% | 0.8% | 3.5% | 17.6% | 41.0% |
| Income quality (OCF / net income) | 2.29 | 0.67 | 1.03 | −0.09 | −0.21 | — | 8.53 | — | — | 2.64 |
| Financial health | ||||||||||
| Total debt | $120.3M | $91.1M | $84.9M | $114.6M | $39.2M | $7.2M | $5.6M | $18.9M | $36.5M | — |
| Cash & short-term investments | $203.4M | $73.3M | $7.4M | $8.4M | $9.7M | $346.0M | $398.9M | $418.1M | $493.2M | $423.5M |
| Net debt | −$83.1M | $17.8M | $77.5M | $106.2M | $29.5M | −$338.8M | −$393.4M | −$399.2M | −$456.6M | −$423.5M |
| Debt / equity | 0.11 | 0.10 | 0.26 | 0.46 | 0.22 | 0.01 | 0.01 | 0.02 | 0.03 | — |
| Debt / assets | 0.09 | 0.08 | 0.18 | 0.26 | 0.14 | 0.01 | 0.00 | 0.02 | 0.03 | — |
| Net debt / EBITDA | −0.41 | 0.10 | 0.60 | 1.04 | 0.88 | — | −8.79 | — | — | −2.87 |
| Current ratio | 4.91 | 3.94 | 3.67 | 3.32 | 2.77 | 10.09 | 9.08 | 10.37 | 10.09 | 10.41 |
| Quick ratio | 3.24 | 2.28 | 1.87 | 1.71 | 1.45 | 7.61 | 6.97 | 8.05 | 7.18 | 6.91 |
| Interest coverage | 44.1 | 20.2 | 17.7 | 18.8 | 6.5 | -30.1 | 18.1 | — | — | — |
| Working capital | $579.9M | $478.7M | $209.6M | $197.4M | $123.3M | $777.7M | $783.5M | $770.7M | $908.6M | $955.2M |
| Invested capital | $974.6M | $975.9M | $406.4M | $357.4M | $210.0M | $702.8M | $697.3M | $697.0M | $837.8M | $932.9M |
| Tangible asset value | $841.7M | $789.6M | $263.2M | $177.5M | $127.9M | $1.01B | $1.05B | $1.05B | $1.21B | $1.29B |
| Net current asset value | $517.4M | $402.1M | $141.9M | $97.4M | $88.6M | $753.5M | $764.6M | $756.6M | $903.2M | $951.7M |
| Graham number | $20.29 | $34.36 | $14.63 | $38.28 | $5.67 | — | $5.68 | — | — | $44.78 |
| Graham net-net per share | $4.26 | $3.34 | $0.46 | −$0.87 | $0.38 | $15.17 | $15.81 | $15.35 | $18.08 | $17.43 |
| Capital allocation | ||||||||||
| Dividends paid | $0 | $75.0M | $0 | $0 | — | — | — | — | — | — |
| Share buybacks (net) | $9.3M | $0 | $0 | $1.3M | $331,000 | $25.0M | $26.6M | $100.0M | — | $24.2M |
| Dividend payout ratio | 0.0% | 53.4% | 0.0% | 0.0% | — | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 6.0% | 93.9% | 0.0% | — | — | — | 836.3% | 743.9% | — | 11.0% |
| Capex / revenue | 3.6% | 2.1% | 2.8% | 2.0% | 2.2% | 3.3% | 2.8% | 8.3% | 6.1% | 4.8% |
| Capex / operating cash flow | 18.4% | 14.5% | 20.4% | — | — | — | 78.4% | 70.5% | 25.6% | 10.5% |
| Capex / depreciation | 0.48 | 0.34 | 0.52 | 0.38 | 0.36 | 0.37 | 0.34 | 0.91 | 0.67 | 0.81 |
| Stock-based compensation / revenue | 1.4% | 2.0% | 0.4% | 0.2% | 0.2% | — | — | — | — | — |
| R&D / revenue | — | 0.6% | 2.3% | 2.5% | 5.1% | 5.2% | 4.2% | 10.2% | 9.3% | 8.2% |
| SG&A / revenue | 13.2% | 17.6% | 13.1% | 13.3% | 18.9% | — | — | — | — | — |
| Efficiency | ||||||||||
| Days sales outstanding | 94.0 | 107.3 | 81.6 | 81.6 | 209.9 | 252.4 | 198.1 | 186.9 | 162.3 | 180.7 |
| Days of inventory on hand | 128.9 | 175.8 | 140.8 | 135.2 | 268.2 | 282.4 | 244.8 | 324.2 | 386.3 | 388.9 |
| Days payables outstanding | 31.2 | 41.4 | 37.3 | 47.2 | 66.6 | 56.6 | 45.1 | 40.4 | 41.6 | 37.3 |
| Cash conversion cycle (days) | 191.7 | 241.6 | 185.1 | 169.6 | 411.5 | 478.1 | 397.8 | 470.6 | 507.1 | 532.3 |
| Receivables turnover | 3.88 | 3.40 | 4.47 | 4.47 | 1.74 | 1.45 | 1.84 | 1.95 | 2.25 | 2.02 |
| Payables turnover | 11.69 | 8.81 | 9.77 | 7.73 | 5.48 | 6.45 | 8.09 | 9.02 | 8.78 | 9.80 |
| Inventory turnover | 2.83 | 2.08 | 2.59 | 2.70 | 1.36 | 1.29 | 1.49 | 1.13 | 0.94 | 0.94 |
| Asset turnover | 0.79 | 0.79 | 1.22 | 1.30 | 0.41 | 0.31 | 0.35 | 0.30 | 0.32 | 0.37 |
| Average receivables | $252.1M | $194.2M | $124.2M | $104.4M | $169.6M | $252.3M | $225.2M | $196.9M | $202.6M | $266.6M |
| Average payables | $63.0M | $48.6M | $36.8M | $40.0M | $37.9M | $41.9M | $36.5M | $30.1M | $34.8M | $33.5M |
| Average inventory | $259.8M | $206.2M | $138.9M | $114.5M | $152.4M | $208.8M | $198.1M | $241.1M | $323.2M | $349.9M |
| Intangibles / total assets | 17.0% | 14.1% | 13.8% | 16.9% | 18.5% | 2.5% | 3.3% | 3.6% | 6.1% | 4.4% |
Computed from INVX's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
INVX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Innovex International traded at 18.2 times earnings, against a 10-year median of 18.2. Based on the latest twelve months, the trailing P/E is 31.5. Innovex International earned a return on equity of 8.3% and a return on invested capital of 7.6% in fiscal 2025. It ended the year with $120.3 million of debt and $203.4 million in cash and short-term investments, a net cash position of $83.1 million. It returned $9.3 million to shareholders: $0 in dividends and $9.3 million in share buybacks, 6% of free cash flow. The share count rose 84.2% from 37.7M to 69.4M over 9 years.
See the INVX income statement, the INVX chart for price history, or the INVX stock overview for the latest quote and news.
INVX key metrics FAQ
What is Innovex International's P/E ratio?
Innovex International's trailing P/E ratio is 31.5 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was 18.2, compared with a 10-year median of 18.2.
What is Innovex International's EV/EBITDA?
Innovex International's enterprise value was 7.0 times EBITDA at the end of fiscal 2025 (enterprise value $1.4 billion, EBITDA $204.4 million); the current EV/EBITDA is 8.5.
What is Innovex International's return on equity?
Innovex International's return on equity (ROE) was 8.3% in fiscal 2025: net income of $83.3 million on average shareholders' equity of $1.0 billion.
What is Innovex International's ROIC?
Innovex International's return on invested capital was 7.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Innovex International have?
Innovex International had total debt of $120.3 million at the end of fiscal 2025, a debt-to-equity ratio of 0.11 and more cash than debt.
Does Innovex International pay a dividend?
Innovex International did not pay a dividend in fiscal 2025.
Does Innovex International buy back its shares?
Yes. Innovex International spent $9.3 million on net share repurchases in fiscal 2025 Shares outstanding changed +37.0% over the year, to 69.4M..
What is Innovex International's free cash flow yield?
Innovex International generated $155.8 million of free cash flow in fiscal 2025, a free cash flow yield of 10.3% on its market value at year-end ($1.5 billion).
What is Innovex International's current ratio?
Innovex International's current ratio was 4.91 at the end of fiscal 2025: current assets were 4.91 times current liabilities.