Comprehensive Stock Comparison
Compare Innoviva, Inc. (INVA) vs XOMA Corporation (XOMAP) 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 |  XOMAP | 498.7% revenue growth vs INVA's 18.5% |
| Value |  INVA | Lower P/E (11.3x vs 39.1x) |
| Quality / Margins | INVA | 65.4% net margin vs XOMAP's 46.1% |
| Stability / Safety | INVA | Beta 0.07 vs XOMAP's 0.13 |
| Dividends | XOMAP | 1.8% yield; INVA pays no meaningful dividend |
| Momentum (1Y) | INVA | +26.6% vs XOMAP's +9.2% |
| Efficiency (ROA) | INVA | 16.6% ROA vs XOMAP's 8.3%, ROIC 16.8% vs -37.6% |
Who Each Stock Is For
Income & stability
INVADividend streak 0 yrs, beta 0.07
Growth exposure
INVARev growth 18.5%, EPS growth 8.2%, 3Y rev CAGR 8.7%
Long-term compounding (10Y)
INVA85.1% 10Y total return vs XOMAP's 51.6%
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
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.
XOMA Corporation is a biotechnology royalty aggregator that acquires future economic rights to pre-commercial therapeutic candidates licensed to pharmaceutical partners. It generates revenue primarily through milestone payments and royalties from its portfolio of approximately 70 early to mid-stage clinical assets — with no single asset dominating its income stream. The company's moat lies in its specialized expertise in evaluating and structuring royalty agreements for complex biotech assets, creating a diversified portfolio of potential future revenue streams.
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 5XOMAP 0INVA4/6 metricsINVA3/4 metricsINVA7/7 metricsINVA6/6 metricsINVA2/2 metricsINVA leads in 5 of 6 categories — strongest in Financial Metrics and Valuation Metrics.
Financial Metrics (TTM)
INVA is the larger business by revenue, generating $415M annually — 8.8x XOMAP's $47M. INVA is the more profitable business, keeping 65.4% of every revenue dollar as net income compared to XOMAP's 46.1%.
| Metric | INVAInnoviva, Inc. | XOMAPXOMA Corporation |
|---|---|---|
| RevenueTrailing 12 months | $415M | $47M |
| EBITDAEarnings before interest/tax | $13M | $13M |
| Net IncomeAfter-tax profit | $271M | $22M |
| Free Cash FlowCash after capex | $195M | $5M |
| Gross MarginGross profit ÷ Revenue | +78.9% | +93.6% |
| Operating MarginEBIT ÷ Revenue | -4.0% | -15.0% |
| Net MarginNet income ÷ Revenue | +65.4% | +46.1% |
| FCF MarginFCF ÷ Revenue | +46.9% | +11.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +28.6% | +29.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +7.1% | +144.0% |
Valuation Metrics
| Metric | INVAInnoviva, Inc. | XOMAPXOMA Corporation |
|---|---|---|
| Market CapShares × price | $1.7B | $321M |
| Enterprise ValueMkt cap + debt − cash | $1.1B | $338M |
| Trailing P/EPrice ÷ TTM EPS | 6.74x | -15.79x |
| Forward P/EPrice ÷ next-FY EPS est. | 11.30x | 39.12x |
| PEG RatioP/E ÷ EPS growth rate | 0.65x | — |
| EV / EBITDAEnterprise value multiple | 5.44x | — |
| Price / SalesMarket cap ÷ Revenue | 3.91x | 11.26x |
| Price / BookPrice ÷ Book value/share | 1.61x | 3.72x |
| Price / FCFMarket cap ÷ FCF | 8.48x | — |
Profitability & Efficiency
INVA delivers a 23.1% return on equity — every $100 of shareholder capital generates $23 in annual profit, vs $20 for XOMAP.
| Metric | INVAInnoviva, Inc. | XOMAPXOMA Corporation |
|---|---|---|
| ROE (TTM)Return on equity | +23.1% | +20.1% |
| ROA (TTM)Return on assets | +16.6% | +8.3% |
| ROICReturn on invested capital | +16.8% | -37.6% |
| ROCEReturn on capital employed | +12.4% | -19.4% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 4 |
| Debt / EquityFinancial leverage | — | 1.46x |
| Net DebtTotal debt minus cash | -$551M | $18M |
| Cash & Equiv.Liquid assets | $551M | $102M |
| Total DebtShort + long-term debt | $0 | $119M |
| Interest CoverageEBIT ÷ Interest expense | 11.03x | 2.20x |
Total Returns (with DRIP)
A $10,000 investment in INVA five years ago would be worth $20,115 today (with dividends reinvested), compared to $14,545 for XOMAP. Over the past 12 months, INVA leads with a +26.6% total return vs XOMAP's +9.2%. The 3-year compound annual growth rate (CAGR) favors INVA at 26.4% vs XOMAP's 9.2% — a key indicator of consistent wealth creation.
| Metric | INVAInnoviva, Inc. | XOMAPXOMA Corporation |
|---|---|---|
| YTD ReturnYear-to-date | +12.0% | -1.9% |
| 1-Year ReturnPast 12 months | +26.6% | +9.2% |
| 3-Year ReturnCumulative with dividends | +101.9% | +30.2% |
| 5-Year ReturnCumulative with dividends | +101.2% | +45.4% |
| 10-Year ReturnCumulative with dividends | +85.1% | +51.6% |
| CAGR (3Y)Annualised 3-year return | +26.4% | +9.2% |
Risk & Volatility
INVA is the less volatile stock with a 0.07 beta — it tends to amplify market swings less than XOMAP's 0.13 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | INVAInnoviva, Inc. | XOMAPXOMA Corporation |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.07x | 0.13x |
| 52-Week HighHighest price in past year | $25.00 | $30.00 |
| 52-Week LowLowest price in past year | $16.52 | $24.96 |
| % of 52W HighCurrent price vs 52-week peak | +89.0% | +86.9% |
| RSI (14)Momentum oscillator 0–100 | 59.8 | 42.2 |
| Avg Volume (50D)Average daily shares traded | 577K | 778 |
Analyst Outlook
Wall Street rates INVA as "Buy" and XOMAP as "Buy". XOMAP is the only dividend payer here at 1.79% yield — a key consideration for income-focused portfolios.
| Metric | INVAInnoviva, Inc. | XOMAPXOMA Corporation |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $32.50 | — |
| # AnalystsCovering analysts | 10 | 9 |
| Dividend YieldAnnual dividend ÷ price | — | +1.8% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | — | $0.47 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.3% | +0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jan 21 | Mar 26 | Change |
|---|---|---|---|
| Innoviva, Inc. (INVA) | 100 | 178.27 | +78.3% |
| XOMA Corporation (XOMAP) | 103.15 | 106.74 | +3.5% |
Innoviva, Inc. (INVA) returned +101% over 5 years vs XOMA Corporation (XOMAP)'s +45%. A $10,000 investment in INVA 5 years ago would be worth $20,115 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Innoviva, Inc. (INVA) | $134M | $425M | +218.3% |
| XOMA Corporation (XOMAP) | $6M | $28M | +412.0% |
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 |
|---|---|---|---|
| Innoviva, Inc. (INVA) | 44.6% | 63.8% | +43.1% |
| XOMA Corporation (XOMAP) | -9.6% | -48.5% | -404.3% |
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 |
|---|---|---|---|
| Innoviva, Inc. (INVA) | 0.53 | 3.3 | +522.6% |
| XOMA Corporation (XOMAP) | -4.72 | -1.65 | +65.0% |
Innoviva, Inc.'s EPS grew from $0.53 (2016) to $3.30 (2025) — a 23% CAGR.
Chart 6Free Cash Flow — 5 Years
Innoviva, Inc. generated $196M FCF in 2025 (-46% vs 2021). XOMA Corporation generated $-14M FCF in 2024 (-260% vs 2021).
INVA vs XOMAP: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is INVA or XOMAP a better buy right now?
Innoviva, Inc. (INVA) offers the better valuation at 6.7x trailing P/E (11.3x 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 — INVA or XOMAP?
On forward P/E, Innoviva, Inc. is actually cheaper at 11.3x.
03Which is the better long-term investment — INVA or XOMAP?
Over the past 5 years, Innoviva, Inc. (INVA) delivered a total return of +101.2%, compared to +45.4% for XOMA Corporation (XOMAP). 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 +85.1% versus XOMAP's +51.6%. 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 — INVA or XOMAP?
By beta (market sensitivity over 5 years), Innoviva, Inc. (INVA) is the lower-risk stock at 0.07β versus XOMA Corporation's 0.13β — meaning XOMAP is approximately 88% more volatile than INVA relative to the S&P 500.
05Which has better profit margins — INVA or XOMAP?
Innoviva, Inc. (INVA) is the more profitable company, earning 63.8% net margin versus -48.5% for XOMA Corporation — meaning it keeps 63.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: INVA leads at 38.5% versus -140.3% for XOMAP. At the gross margin level — before operating expenses — XOMAP leads at 99.3%, 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.
06Is INVA or XOMAP more undervalued right now?
On forward earnings alone, Innoviva, Inc. (INVA) trades at 11.3x forward P/E versus 39.1x for XOMA Corporation — 27.8x cheaper on a one-year earnings basis.
07Which pays a better dividend — INVA or XOMAP?
In this comparison, XOMAP (1.8% yield) pays a dividend. INVA does not pay a meaningful dividend and should not be held primarily for income.
08Is INVA or XOMAP better for a retirement portfolio?
For long-horizon retirement investors, XOMA Corporation (XOMAP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.13), 1.8% yield). Both have compounded well over 10 years (XOMAP: +51.6%, INVA: +85.1%), 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.
09What are the main differences between INVA and XOMAP?
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: INVA is a small-cap deep-value stock; XOMAP is a small-cap quality compounder stock. XOMAP 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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