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Integral Ad Science Holding Corp. (IAS) 10-Year Financial Performance & Capital Metrics

IAS • • Industrial / General
Communication ServicesAdvertising & MarketingDigital Advertising PlatformsAd Verification & Quality
AboutIntegral Ad Science Holding Corp. operates as a digital advertising verification company in the United States, the United Kingdom, Germany, Italy, Spain, Sweden, Singapore, Australia, France, Japan, Canada, India, and Brazil. The company provides IAS Signal, a cloud-based technology platform that offers actionable insights; and deliver independent measurement and verification of digital advertising across devices, channels, and formats, including desktop, mobile, connected TV, social, display, and video. Its digital media quality solutions offer ad fraud detection and prevention, viewability, brand safety and suitability, contextual targeting, inventory yield management, and reporting. The company offers Quality Impressions, a metric designed to verify that digital ads are served to a real person rather than a bot, viewable on-screen, and presented in a brand-safe and suitable environment in the correct geography; Context Control solution that delivers contextual targeting and brand suitability capabilities; pre-bid programmatic and post-bid verification solutions for advertisers; and optimization and verification solutions for publishers. It serves advertisers and agencies, publishers, advertising/audience networks, and supply side platforms. The company was founded in 2009 and is headquartered in New York, New York.Show more
  • Revenue $530M +11.7%
  • EBITDA $124M +72.6%
  • Net Income $38M +422.2%
  • EPS (Diluted) 0.23 +413.4%
  • Gross Margin 78.5% -0.7%
  • EBITDA Margin 23.46% +54.4%
  • Operating Margin 11.39% +216.2%
  • Net Margin 7.13% +367.3%
  • ROE 3.94% +367.8%
  • ROIC 4.65% +252.0%
  • Debt/Equity 0.06 -71.5%
  • Interest Coverage 11.27 +706.8%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 19.9%

✗Weaknesses

  • ✗Weak 3Y average ROE of 2.2%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y19.95%
3Y17.89%
TTM15.51%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM42.92%

EPS CAGR

10Y-
5Y-
3Y-
TTM40.92%

ROCE

10Y Avg-0.11%
5Y Avg0.66%
3Y Avg2.83%
Latest5.55%

Peer Comparison

Ad Verification & Quality
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
IASIntegral Ad Science Holding Corp.1.74B10.3444.9611.75%7.91%4.23%4.46%0.06

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+213.49M240.63M323.51M408.35M474.37M530.1M
Revenue Growth %-0.13%0.34%0.26%0.16%0.12%
Cost of Goods Sold+33.11M40.51M54.57M75.75M99.35M113.96M
COGS % of Revenue0.16%0.17%0.17%0.19%0.21%0.21%
Gross Profit+180.38M200.13M268.94M332.59M375.02M416.14M
Gross Margin %0.84%0.83%0.83%0.81%0.79%0.79%
Gross Profit Growth %-0.11%0.34%0.24%0.13%0.11%
Operating Expenses+214.16M214.01M301.95M317.44M357.93M355.75M
OpEx % of Revenue1%0.89%0.93%0.78%0.75%0.67%
Selling, General & Admin103.44M99.31M165.4M185.94M229.62M218.01M
SG&A % of Revenue0.48%0.41%0.51%0.46%0.48%0.41%
Research & Development40.4M48.99M67.02M76.35M72.91M69.85M
R&D % of Revenue0.19%0.2%0.21%0.19%0.15%0.13%
Other Operating Expenses70.33M65.71M69.53M55.15M55.4M67.89M
Operating Income+-33.79M-13.88M-33.01M15.16M17.09M60.39M
Operating Margin %-0.16%-0.06%-0.1%0.04%0.04%0.11%
Operating Income Growth %-0.59%-1.38%1.46%0.13%2.53%
EBITDA+36.54M51.83M29.28M65.55M72.06M124.35M
EBITDA Margin %0.17%0.22%0.09%0.16%0.15%0.23%
EBITDA Growth %-0.42%-0.44%1.24%0.1%0.73%
D&A (Non-Cash Add-back)70.33M65.71M62.29M50.4M54.97M63.97M
EBIT-33.79M-13.88M-36.73M22.14M17.09M60.39M
Net Interest Income+-32.99M-31.57M-19.24M-9.05M-12.24M-5.36M
Interest Income000000
Interest Expense32.99M31.57M19.24M9.05M12.24M5.36M
Other Income/Expense-32.99M-31.57M-22.96M-2.07M-12.24M-5.36M
Pretax Income+-66.78M-45.45M-55.98M13.09M4.86M55.03M
Pretax Margin %-0.31%-0.19%-0.17%0.03%0.01%0.1%
Income Tax+-15.43M-13.08M-3.54M-2.29M-2.38M17.23M
Effective Tax Rate %0.77%0.71%0.94%1.17%1.49%0.69%
Net Income+-51.35M-32.37M-52.44M15.37M7.24M37.8M
Net Margin %-0.24%-0.13%-0.16%0.04%0.02%0.07%
Net Income Growth %-0.37%-0.62%1.29%-0.53%4.22%
Net Income (Continuing)-51.35M-32.37M-52.44M15.37M7.24M37.8M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+-0.34-0.21-0.370.100.040.23
EPS Growth %-0.38%-0.76%1.26%-0.54%4.13%
EPS (Basic)-0.34-0.21-0.370.100.050.23
Diluted Shares Outstanding151.21M151.21M143.54M157.26M161.72M165.47M
Basic Shares Outstanding151.21M151.21M143.54M154.7M156.27M161.06M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+101.39M129.52M170.16M221.15M264.93M254.46M
Cash & Short-Term Investments26.28M51.73M73.21M86.88M124.76M84.47M
Cash Only26.28M51.73M73.21M86.88M124.76M84.47M
Short-Term Investments000000
Accounts Receivable66.21M73.5M89.25M109.46M121.16M132.84M
Days Sales Outstanding113.21111.49100.797.8493.2291.47
Inventory000000
Days Inventory Outstanding------
Other Current Assets1.45M187K70K24.81M19.01M37.15M
Total Non-Current Assets+773.84M720.06M959.37M947.54M926.79M897.11M
Property, Plant & Equipment4.32M2.24M1.41M25.2M25.44M21.89M
Fixed Asset Turnover49.38x107.28x228.95x16.20x18.65x24.21x
Goodwill457.65M458.59M676.51M674.09M675.28M673.02M
Intangible Assets308.41M255.67M276.42M241.2M219.21M194.58M
Long-Term Investments000000
Other Non-Current Assets3.46M3.56M4.14M5.02M4.4M5.94M
Total Assets+875.23M849.58M1.13B1.17B1.19B1.15B
Asset Turnover0.24x0.28x0.29x0.35x0.40x0.46x
Asset Growth %--0.03%0.33%0.03%0.02%-0.03%
Total Current Liabilities+28.3M40.41M56.49M67.77M82.47M84.17M
Accounts Payable4.64M8.81M8.31M10.49M12.09M16.2M
Days Payables Outstanding51.2179.3755.5650.5344.4251.9
Short-Term Debt001.98M000
Deferred Revenue (Current)1000K1000K160K99K682K1000K
Other Current Liabilities9.43M11.88M17.75M16.53M20.41M19.78M
Current Ratio3.58x3.21x3.01x3.26x3.21x3.02x
Quick Ratio3.58x3.21x3.01x3.26x3.21x3.02x
Cash Conversion Cycle------
Total Non-Current Liabilities+387.26M377.69M305.86M292.7M199.8M59.39M
Long-Term Debt345.33M351.07M242.8M223.26M153.72M34.19M
Capital Lease Obligations215K0022.88M19.52M13.37M
Deferred Tax Liabilities40.1M24.79M53.52M45.49M20.37M3.12M
Other Non-Current Liabilities1.62M1.83M9.54M1.07M6.18M8.71M
Total Liabilities415.56M418.1M362.35M360.47M282.27M143.56M
Total Debt+346.97M351.4M244.77M252.89M182.68M57.75M
Net Debt320.69M299.66M171.56M166.01M57.92M-26.72M
Debt / Equity0.75x0.81x0.32x0.31x0.20x0.06x
Debt / EBITDA9.50x6.78x8.36x3.86x2.54x0.46x
Net Debt / EBITDA8.78x5.78x5.86x2.53x0.80x-0.21x
Interest Coverage-1.02x-0.44x-1.72x1.67x1.40x11.27x
Total Equity+459.67M431.48M767.19M808.22M909.46M1.01B
Equity Growth %--0.06%0.78%0.05%0.13%0.11%
Book Value per Share3.042.855.345.145.626.09
Total Shareholders' Equity459.67M431.48M767.19M808.22M909.46M1.01B
Common Stock553.86M553.72M154K154K159K163K
Retained Earnings-94.36M-126.76M-14.6M775K8.95M46.75M
Treasury Stock000000
Accumulated OCI175K4.52M-315K-2.9M-916K-3.67M
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-1.85M33.94M63.59M72.47M131.62M117.9M
Operating CF Margin %-0.01%0.14%0.2%0.18%0.28%0.22%
Operating CF Growth %-19.3%0.87%0.14%0.82%-0.1%
Net Income-51.35M-32.37M-52.44M15.37M7.24M37.8M
Depreciation & Amortization70.33M67.07M62.29M50.4M54.97M63.97M
Stock-Based Compensation0058.77M44.75M81.1M59.76M
Deferred Taxes-16.93M0-9.66M-15.86M-21.53M-16.42M
Other Non-Cash Items9.72M7.11M15.01M8.51M3.83M3.55M
Working Capital Changes-13.62M-7.87M-10.37M-30.7M6.02M-30.76M
Change in Receivables-6.35M-8.34M-9.1M-18.58M-12.83M-6.22M
Change in Inventory-7.67M0-12.54M000
Change in Payables-242K012.25M6.29M11.48M4.65M
Cash from Investing+-25.03M-9.66M-200.09M-18.29M-34.72M-40.54M
Capital Expenditures-7.46M-638K-13.66M-16.69M-1.98M-1.78M
CapEx % of Revenue0.03%0%0.04%0.04%0%0%
Acquisitions------
Investments------
Other Investing0-9.02M00-31.78M-38.76M
Cash from Financing+13.66M-1.7M160.19M-37.47M-58.85M-116.38M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing-473K0273.11M8M03.21M
Net Change in Cash------
Free Cash Flow+-9.31M33.3M49.94M55.78M97.87M77.35M
FCF Margin %-0.04%0.14%0.15%0.14%0.21%0.15%
FCF Growth %-4.58%0.5%0.12%0.75%-0.21%
FCF per Share-0.060.220.350.350.610.47
FCF Conversion (FCF/Net Income)0.04x-1.05x-1.21x4.71x18.18x3.12x
Interest Paid27.87M21.44M17.11M8.51M11.23M4.9M
Taxes Paid1.16M02.24M16.4M10.98M34.8M

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-11.17%-7.27%-8.75%1.95%0.84%3.94%
Return on Invested Capital (ROIC)-3.25%-1.38%-2.97%1.19%1.32%4.65%
Gross Margin84.49%83.17%83.13%81.45%79.06%78.5%
Net Margin-24.05%-13.45%-16.21%3.76%1.53%7.13%
Debt / Equity0.75x0.81x0.32x0.31x0.20x0.06x
Interest Coverage-1.02x-0.44x-1.72x1.67x1.40x11.27x
FCF Conversion0.04x-1.05x-1.21x4.71x18.18x3.12x
Revenue Growth-12.72%34.44%26.22%16.17%11.75%

Revenue by Geography

2021202220232024
Americas204.34M279.25M327.59M364.14M
Americas Growth-36.66%17.31%11.16%
EMEA86.19M96.68M111M127.56M
EMEA Growth-12.17%14.82%14.92%
Asia Pacific32.98M32.41M35.78M38.4M
Asia Pacific Growth--1.73%10.37%7.33%

Frequently Asked Questions

Valuation & Price

Integral Ad Science Holding Corp. (IAS) has a price-to-earnings (P/E) ratio of 45.0x. This suggests investors expect higher future growth.

Growth & Financials

Integral Ad Science Holding Corp. (IAS) reported $590.7M in revenue for fiscal year 2024. This represents a 177% increase from $213.5M in 2019.

Integral Ad Science Holding Corp. (IAS) grew revenue by 11.7% over the past year. This is steady growth.

Yes, Integral Ad Science Holding Corp. (IAS) is profitable, generating $46.7M in net income for fiscal year 2024 (7.1% net margin).

Dividend & Returns

Integral Ad Science Holding Corp. (IAS) has a return on equity (ROE) of 3.9%. This is below average, suggesting room for improvement.

Integral Ad Science Holding Corp. (IAS) generated $164.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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