Comprehensive Stock Comparison
Compare BlackRock Technology and Private Equity Term Trust (BTX) vs Innoviva, Inc. (INVA) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth |  INVA | 18.5% revenue growth vs BTX's -81.1% |
| Value | INVA | Lower P/E (11.5x vs 38.9x) |
| Quality / Margins |  BTX | 87.7% net margin vs INVA's 65.4% |
| Stability / Safety | INVA | Beta 0.07 vs BTX's 1.16 |
| Dividends | BTX | 12.9% yield; 1-year raise streak; INVA pays no meaningful dividend |
| Momentum (1Y) | INVA | +29.1% vs BTX's +6.8% |
| Efficiency (ROA) | INVA | 16.6% ROA vs BTX's 1.8%, ROIC 16.8% vs 1.4% |
Who Each Stock Is For
Income & stability
BTXDividend streak 1 yrs, beta 1.16, yield 12.9%
Growth exposure
INVARev growth 18.5%, EPS growth 8.2%, 3Y rev CAGR 8.7%
Long-term compounding (10Y)
INVA81.4% 10Y total return vs BTX's -45.5%
Sleep-well-at-night portfolio
INVALower volatility, beta 0.07, current ratio 14.64x
Defensive / Recession hedge
INVABeta 0.07, current ratio 14.64x
Business Model
What each company does and how it makes money
BlackRock Technology and Private Equity Term Trust is a closed-end investment fund that pools investor capital to invest primarily in mid- and small-capitalization growth companies in the technology and healthcare sectors. It generates returns through capital appreciation and dividend income from its equity portfolio, with performance tied to the success of its underlying investments. The fund's key advantage is BlackRock's extensive research capabilities and access to innovative companies that traditional investors might overlook.
Innoviva is a biopharmaceutical company that develops and commercializes respiratory therapies for chronic obstructive pulmonary disease (COPD) and asthma. It generates revenue primarily through royalties and collaboration payments from its partnered respiratory drugs — including RELVAR/BREO ELLIPTA, ANORO ELLIPTA, and TRELEGY ELLIPTA — which are commercialized by GlaxoSmithKline. The company's key advantage lies in its long-term royalty streams from established respiratory products and its strategic partnership with a major pharmaceutical company for commercialization.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
INVA 4BTX 2BTX4/4 metricsINVA3/5 metricsINVA6/7 metricsINVA6/6 metricsINVA2/2 metricsBTX1/1 metricsINVA leads in 4 of 6 categories (Valuation Metrics, Profitability & Efficiency). BTX leads in 2 (Financial Metrics, Analyst Outlook).
Financial Metrics (TTM)
INVA is the larger business by revenue, generating $415M annually — 10.2x BTX's $41M. BTX is the more profitable business, keeping 87.7% of every revenue dollar as net income compared to INVA's 65.4%.
| Metric | BTXBlackRock Technol… | INVAInnoviva, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $41M | $415M |
| EBITDAEarnings before interest/tax | — | $13M |
| Net IncomeAfter-tax profit | — | $271M |
| Free Cash FlowCash after capex | — | $195M |
| Gross MarginGross profit ÷ Revenue | +100.0% | +78.9% |
| Operating MarginEBIT ÷ Revenue | +87.7% | -4.0% |
| Net MarginNet income ÷ Revenue | +87.7% | +65.4% |
| FCF MarginFCF ÷ Revenue | +6.8% | +46.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | +28.6% |
| EPS Growth (YoY)Latest quarter vs prior year | — | +7.1% |
Valuation Metrics
At 6.9x trailing earnings, INVA trades at a 82% valuation discount to BTX's 38.9x P/E. On an enterprise value basis, INVA's 5.6x EV/EBITDA is more attractive than BTX's 21.6x.
| Metric | BTXBlackRock Technol… | INVAInnoviva, Inc. |
|---|---|---|
| Market CapShares × price | $773M | $1.7B |
| Enterprise ValueMkt cap + debt − cash | $773M | $1.1B |
| Trailing P/EPrice ÷ TTM EPS | 38.94x | 6.89x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 11.55x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.67x |
| EV / EBITDAEnterprise value multiple | 21.64x | 5.62x |
| Price / SalesMarket cap ÷ Revenue | 18.99x | 3.99x |
| Price / BookPrice ÷ Book value/share | 0.80x | 1.64x |
| Price / FCFMarket cap ÷ FCF | 2.79x | 8.66x |
Profitability & Efficiency
INVA delivers a 23.1% return on equity — every $100 of shareholder capital generates $23 in annual profit, vs $2 for BTX. On the Piotroski fundamental quality scale (0–9), INVA scores 4/9 vs BTX's 3/9, reflecting mixed financial health.
| Metric | BTXBlackRock Technol… | INVAInnoviva, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +1.9% | +23.1% |
| ROA (TTM)Return on assets | +1.8% | +16.6% |
| ROICReturn on invested capital | +1.4% | +16.8% |
| ROCEReturn on capital employed | +1.8% | +12.4% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 4 |
| Debt / EquityFinancial leverage | — | — |
| Net DebtTotal debt minus cash | $0 | -$551M |
| Cash & Equiv.Liquid assets | — | $551M |
| Total DebtShort + long-term debt | $0 | $0 |
| Interest CoverageEBIT ÷ Interest expense | 2313.25x | 11.03x |
Total Returns (with DRIP)
A $10,000 investment in INVA five years ago would be worth $19,748 today (with dividends reinvested), compared to $5,453 for BTX. Over the past 12 months, INVA leads with a +29.1% total return vs BTX's +6.8%. The 3-year compound annual growth rate (CAGR) favors INVA at 27.3% vs BTX's 5.8% — a key indicator of consistent wealth creation.
| Metric | BTXBlackRock Technol… | INVAInnoviva, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +0.5% | +14.4% |
| 1-Year ReturnPast 12 months | +6.8% | +29.1% |
| 3-Year ReturnCumulative with dividends | +18.3% | +106.3% |
| 5-Year ReturnCumulative with dividends | -45.5% | +97.5% |
| 10-Year ReturnCumulative with dividends | -45.5% | +81.4% |
| CAGR (3Y)Annualised 3-year return | +5.8% | +27.3% |
Risk & Volatility
INVA is the less volatile stock with a 0.07 beta — it tends to amplify market swings less than BTX's 1.16 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | BTXBlackRock Technol… | INVAInnoviva, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.16x | 0.07x |
| 52-Week HighHighest price in past year | $7.50 | $25.15 |
| 52-Week LowLowest price in past year | $5.10 | $16.52 |
| % of 52W HighCurrent price vs 52-week peak | +88.3% | +90.4% |
| RSI (14)Momentum oscillator 0–100 | 47.3 | 50.8 |
| Avg Volume (50D)Average daily shares traded | 908K | 705K |
Analyst Outlook
BTX is the only dividend payer here at 12.93% yield — a key consideration for income-focused portfolios.
| Metric | BTXBlackRock Technol… | INVAInnoviva, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy |
| Price TargetConsensus 12-month target | — | $32.50 |
| # AnalystsCovering analysts | — | 10 |
| Dividend YieldAnnual dividend ÷ price | +12.9% | — |
| Dividend StreakConsecutive years of raises | 1 | 0 |
| Dividend / ShareAnnual DPS | $0.86 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +12.0% | +0.3% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 21 | Mar 26 | Change |
|---|---|---|---|
| BlackRock Technolog… (BTX) | 100 | 33.57 | -66.4% |
| Innoviva, Inc. (INVA) | 100 | 190.89 | +90.9% |
Innoviva, Inc. (INVA) returned +97% over 5 years vs BlackRock Technolog… (BTX)'s -45%. A $10,000 investment in INVA 5 years ago would be worth $19,748 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| BlackRock Technolog… (BTX) | $-640M | $41M | +106.4% |
| Innoviva, Inc. (INVA) | $134M | $425M | +218.3% |
Innoviva, Inc.'s revenue grew from $134M (2016) to $425M (2025) — a 13.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| BlackRock Technolog… (BTX) | 100.1% | 87.7% | -12.4% |
| Innoviva, Inc. (INVA) | 44.6% | 63.8% | +43.1% |
Innoviva, Inc.'s net margin went from 45% (2016) to 64% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Innoviva, Inc. (INVA) | 12.1 | 6.1 | -49.6% |
Innoviva, Inc. has traded in a 5x–48x P/E range over 9 years; current trailing P/E is ~7x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| BlackRock Technolog… (BTX) | -2.58 | 0.17 | +106.6% |
| Innoviva, Inc. (INVA) | 0.53 | 3.3 | +522.6% |
Innoviva, Inc.'s EPS grew from $0.53 (2016) to $3.30 (2025) — a 23% CAGR.
Chart 6Free Cash Flow — 5 Years
BlackRock Technology and Private Equity Term Trust generated $277M FCF in 2024 (+106% vs 2021). Innoviva, Inc. generated $196M FCF in 2025 (-46% vs 2021).
BTX vs INVA: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is BTX or INVA a better buy right now?
Innoviva, Inc. (INVA) offers the better valuation at 6.9x trailing P/E (11.5x forward), making it the more compelling value choice. Analysts rate Innoviva, Inc. (INVA) a "Buy" — based on 10 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BTX or INVA?
On trailing P/E, Innoviva, Inc. (INVA) is the cheapest at 6.9x versus BlackRock Technology and Private Equity Term Trust at 38.9x.
03Which is the better long-term investment — BTX or INVA?
Over the past 5 years, Innoviva, Inc. (INVA) delivered a total return of +97.5%, compared to -45.5% for BlackRock Technology and Private Equity Term Trust (BTX). A $10,000 investment in INVA five years ago would be worth approximately $20K today (assuming dividends reinvested). Over 10 years, the gap is even starker: INVA returned +81.4% versus BTX's -45.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BTX or INVA?
By beta (market sensitivity over 5 years), Innoviva, Inc. (INVA) is the lower-risk stock at 0.07β versus BlackRock Technology and Private Equity Term Trust's 1.16β — meaning BTX is approximately 1552% more volatile than INVA relative to the S&P 500.
05Which has better profit margins — BTX or INVA?
BlackRock Technology and Private Equity Term Trust (BTX) is the more profitable company, earning 87.7% net margin versus 63.8% for Innoviva, Inc. — meaning it keeps 87.7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BTX leads at 87.7% versus 38.5% for INVA. At the gross margin level — before operating expenses — BTX leads at 100.0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — BTX or INVA?
In this comparison, BTX (12.9% yield) pays a dividend. INVA does not pay a meaningful dividend and should not be held primarily for income.
07Is BTX or INVA better for a retirement portfolio?
For long-horizon retirement investors, Innoviva, Inc. (INVA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.07)). Both have compounded well over 10 years (INVA: +81.4%, BTX: -45.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between BTX and INVA?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: BTX is a small-cap income-oriented stock; INVA is a small-cap deep-value stock. BTX pays a dividend while INVA does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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