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6May 5, 2026·SEC
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InnovAge Holding Corp. (INNV) fundamental analysis — strengths, weaknesses & financial health based on data analysis
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
InnovAge Holding Corp. (INNV) stock price & volume — 10-year historical chart
InnovAge Holding Corp. (INNV) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
InnovAge Holding Corp. (INNV) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.22vs $0.06-466.7% | $252Mvs $234M+7.5% |
| Q1 2026 | Feb 3, 2026 | $0.08vs $0.04+100.0% | $240Mvs $228M+5.0% |
| Q4 2025 | Nov 4, 2025 | $0.06vs $0.01+500.0% | $218Mvs $227M-3.8% |
| Q4 2025 | Sep 9, 2025 | $0.01vs $0.02+50.0% | $218Mvs $220M-0.8% |
InnovAge Holding Corp. (INNV) competitors in Physician platforms and value-based care — business model, growth, and fundamentals comparison
InnovAge Holding Corp. (INNV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
InnovAge Holding Corp. (INNV) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Jun'19 | Jun'20 | Jun'21 | Jun'22 | Jun'23 | Jun'24 | Jun'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 465.63M | 567.19M | 637.8M | 698.64M | 688.09M | 763.86M | 853.7M | 945.9M |
| Revenue Growth % | - | 21.81% | 12.45% | 9.54% | -1.51% | 11.01% | 11.76% | 13.73% |
| Cost of Goods Sold | 355M | 425.89M | 476.01M | 563.27M | 586.8M | 631.79M | 268.91M | 553.9M |
| COGS % of Revenue | 76.24% | 75.09% | 74.63% | 80.62% | 85.28% | 82.71% | 31.5% | - |
| Gross Profit | 110.63M▲ 0% | 141.3M▲ 27.7% | 161.79M▲ 14.5% | 135.37M▼ 16.3% | 101.29M▼ 25.2% | 132.06M▲ 30.4% | 584.79M▲ 342.8% | 140.05M▲ 0% |
| Gross Margin % | 23.76% | 24.91% | 25.37% | 19.38% | 14.72% | 17.29% | 68.5% | 14.81% |
| Gross Profit Growth % | - | 27.73% | 14.49% | -16.33% | -25.18% | 30.38% | 342.81% | - |
| Operating Expenses | 70.95M | 90.37M | 86.96M | 139.78M | 150.68M | 155.24M | 614.55M | 211.09M |
| OpEx % of Revenue | 15.24% | 15.93% | 13.63% | 20.01% | 21.9% | 20.32% | 71.99% | - |
| Selling, General & Admin | 64.71M | 77.48M | 154.57M | 125.85M | 135.26M | 136.29M | 150.28M | 203.36M |
| SG&A % of Revenue | 13.9% | 13.66% | 24.23% | 18.01% | 19.66% | 17.84% | 17.6% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 6.24M | 12.89M | -67.61M | 13.92M | 15.42M | 18.95M | 464.28M | 1000K |
| Operating Income | 39.67M▲ 0% | 50.93M▲ 28.4% | 74.82M▲ 46.9% | -4.41M▼ 105.9% | -49.4M▼ 1021.1% | -23.18M▲ 53.1% | -29.76M▼ 28.4% | 14.23M▲ 0% |
| Operating Margin % | 8.52% | 8.98% | 11.73% | -0.63% | -7.18% | -3.03% | -3.49% | 1.5% |
| Operating Income Growth % | - | 28.38% | 46.9% | -105.89% | -1021.08% | 53.07% | -28.39% | - |
| EBITDA | 48.67M | 62.22M | 87.12M | 9.52M | -33.98M | -4.23M | -10.25M | 4.12M |
| EBITDA Margin % | 10.45% | 10.97% | 13.66% | 1.36% | -4.94% | -0.55% | -1.2% | 0.44% |
| EBITDA Growth % | - | 27.85% | 40.01% | -89.07% | -456.97% | 87.55% | -142.34% | 137.31% |
| D&A (Non-Cash Add-back) | 9M | 11.29M | 12.29M | 13.92M | 15.42M | 18.95M | 19.51M | 20.17M |
| EBIT | 36.92M | 50.25M | -18.18M | -4.71M | -49.27M | -17.8M | -16.15M | 15.37M |
| Net Interest Income | -9.59M | -14.62M | -16.79M | -2.53M | -1.52M | -4.02M | -4.61M | -3.57M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 9.59M | 14.62M | 16.79M | 2.53M | 1.52M | 4.02M | 4.61M | 2.58M |
| Other Income/Expense | -14.29M | -15.3M | -109.79M | -2.83M | -1.4M | 1.36M | -4.27M | -4.92M |
| Pretax Income | 25.39M▲ 0% | 35.63M▲ 40.4% | -34.97M▼ 198.1% | -7.24M▲ 79.3% | -50.79M▼ 601.9% | -21.82M▲ 57.0% | -34.03M▼ 56.0% | -20.46M▲ 0% |
| Pretax Margin % | 5.45% | 6.28% | -5.48% | -1.04% | -7.38% | -2.86% | -3.99% | -2.16% |
| Income Tax | 6.32M | 9.87M | 9.77M | 723K | -7.24M | 1.4M | 1.32M | 1.14M |
| Effective Tax Rate % | 24.88% | 27.69% | -27.94% | -9.99% | 14.26% | -6.43% | -3.87% | -5.56% |
| Net Income | 19.58M▲ 0% | 26.28M▲ 34.2% | -43.99M▼ 267.4% | -6.52M▲ 85.2% | -40.67M▼ 523.7% | -21.34M▲ 47.5% | -30.31M▼ 42.1% | -22.2M▲ 0% |
| Net Margin % | 4.2% | 4.63% | -6.9% | -0.93% | -5.91% | -2.79% | -3.55% | -2.35% |
| Net Income Growth % | - | 34.22% | -267.39% | 85.17% | -523.72% | 47.54% | -42.06% | 28.9% |
| Net Income (Continuing) | 19.07M | 25.77M | -44.74M | -7.96M | -43.55M | -23.22M | -35.34M | -21.12M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 7.25M | 6.74M | 23.41M | 21.38M | 30.55M | 30.55M | 27.94M | 26.11M |
| EPS (Diluted) | 0.15▲ 0% | 0.20▲ 33.3% | -0.33▼ 265.0% | -0.05▲ 84.8% | -0.30▼ 500.0% | -0.16▲ 46.7% | -0.22▼ 37.5% | -0.16▲ 0% |
| EPS Growth % | - | 33.33% | -265% | 84.85% | -500% | 46.67% | -37.5% | -27.63% |
| EPS (Basic) | 0.15 | 0.20 | -0.33 | -0.05 | -0.30 | -0.16 | -0.22 | - |
| Diluted Shares Outstanding | 133.19M | 133.19M | 135.52M | 135.52M | 135.59M | 135.9M | 135.39M | 135.7M |
| Basic Shares Outstanding | 133.19M | 133.19M | 135.52M | 135.52M | 135.59M | 135.9M | 135.39M | 135.7M |
| Dividend Payout Ratio | 339.7% | - | - | - | - | - | - | - |
InnovAge Holding Corp. (INNV) balance sheet — assets, liabilities & shareholders' equity
| Line item | Jun'19 | Jun'20 | Jun'21 | Jun'22 | Jun'23 | Jun'24 | Jun'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 119.45M | 166.93M | 250.93M | 240.96M | 173.14M | 173.14M | 176.11M | 202.61M |
| Cash & Short-Term Investments | 61.2M | 114.56M | 203.7M | 184.45M | 102.78M | 102.79M | 105.92M | 138.59M |
| Cash Only | 61.2M | 114.56M | 203.7M | 184.45M | 56.95M | 56.96M | 64.14M | 95.54M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 45.83M | 45.83M | 41.77M | 43.05M |
| Accounts Receivable | 55.01M | 48.05M | 37.98M | 42.67M | 51.43M | 51.43M | 39.68M | 28.58M |
| Days Sales Outstanding | 43.12 | 30.92 | 21.74 | 22.29 | 27.28 | 24.58 | 16.97 | 11.51 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 3.25M | 4.31M | 0 | 0 | 14K | 0 | 6.04M | 35.44M |
| Total Non-Current Assets | 243.78M | 242.7M | 287.68M | 321.92M | 374.52M | 406.69M | 381.12M | 344.78M |
| Property, Plant & Equipment | 101.19M | 102.49M | 142.72M | 176.26M | 221.44M | 221.44M | 194.94M | 189.02M |
| Fixed Asset Turnover | 4.60x | 5.53x | 4.47x | 3.96x | 3.11x | 3.45x | 4.38x | 4.94x |
| Goodwill | 117.27M | 116.14M | 124.22M | 124.22M | 139.95M | 139.95M | 0 | 142.05M |
| Intangible Assets | 5.84M | 5.18M | 6.52M | 5.86M | 4.54M | 4.54M | 145.92M | 3.38M |
| Long-Term Investments | 15.43M | 15.89M | 3.49M | 5.49M | 2.65M | 5.45M | 2.2M | 2.2M |
| Other Non-Current Assets | 4.07M | 3M | 4.54M | 3.47M | 5.95M | 1.71M | 7.67M | 39.35M |
| Total Assets | 363.23M▲ 0% | 409.63M▲ 12.8% | 538.61M▲ 31.5% | 562.87M▲ 4.5% | 547.66M▼ 2.7% | 579.84M▲ 5.9% | 557.23M▼ 3.9% | 547.39M▲ 0% |
| Asset Turnover | 1.28x | 1.38x | 1.18x | 1.24x | 1.26x | 1.32x | 1.53x | 1.77x |
| Asset Growth % | - | 12.77% | 31.49% | 4.5% | -2.7% | 5.87% | -3.9% | -4.7% |
| Total Current Liabilities | 83.46M | 76.63M | 78.56M | 105.31M | 138.6M | 138.6M | 164.81M | 195.89M |
| Accounts Payable | 30.35M | 28.88M | 32.36M | 50.56M | 55.46M | 55.46M | 76.75M | 0 |
| Days Payables Outstanding | 31.21 | 24.75 | 24.81 | 32.76 | 34.5 | 32.04 | 104.18 | 30.22 |
| Short-Term Debt | 3.63M | 3.43M | 5.87M | 7.16M | 3.79M | 12.54M | 12.17M | 12.34M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 275K |
| Other Current Liabilities | 49.48M | 44.32M | 40.34M | 47.58M | 55.4M | 70.6M | 75.89M | 183.28M |
| Current Ratio | 1.43x | 2.18x | 3.19x | 2.29x | 1.25x | 1.25x | 1.07x | 1.07x |
| Quick Ratio | 1.43x | 2.18x | 3.19x | 2.29x | 1.25x | 1.25x | 1.07x | 1.07x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | -18.71 |
| Total Non-Current Liabilities | 198.33M | 225.25M | 102.08M | 103.82M | 109.25M | 141.43M | 129.51M | 92.61M |
| Long-Term Debt | 186.82M | 210.43M | 71.57M | 68.21M | 61.48M | 61.48M | 57.46M | 26.08M |
| Capital Lease Obligations | 4.33M | 4.09M | 5.19M | 9.44M | 39.02M | 39.02M | 31.45M | 87.63M |
| Deferred Tax Liabilities | 6.11M | 9.28M | 22.56M | 25.04M | 7.46M | 39.63M | 39.14M | 66.7M |
| Other Non-Current Liabilities | 1.08M | 1.45M | 2.76M | 1.13M | 1.3M | 1.3M | 1.46M | 40.47M |
| Total Liabilities | 281.79M | 301.88M | 180.65M | 209.13M | 247.85M | 280.03M | 294.32M | 288.5M |
| Total Debt | 194.78M | 217.96M | 82.63M | 84.81M | 113.03M | 113.03M | 101.08M | 38.41M |
| Net Debt | 133.58M | 103.39M | -121.07M | -99.64M | 56.09M | 56.08M | 36.94M | -57.12M |
| Debt / Equity | 2.39x | 2.02x | 0.23x | 0.24x | 0.38x | 0.38x | 0.38x | 0.38x |
| Debt / EBITDA | 4.00x | 3.50x | 0.95x | 8.91x | - | - | - | 9.32x |
| Net Debt / EBITDA | 2.74x | 1.66x | -1.39x | -10.47x | - | - | - | -13.86x |
| Interest Coverage | 3.85x | 3.44x | -1.08x | -1.87x | -32.37x | -4.42x | -3.50x | 5.96x |
| Total Equity | 81.44M▲ 0% | 107.75M▲ 32.3% | 357.96M▲ 232.2% | 353.74M▼ 1.2% | 299.81M▼ 15.2% | 299.81M▲ 0.0% | 262.91M▼ 12.3% | 258.89M▲ 0% |
| Equity Growth % | - | 32.3% | 232.22% | -1.18% | -15.25% | 0% | -12.31% | -16.85% |
| Book Value per Share | 0.61 | 0.81 | 2.64 | 2.61 | 2.21 | 2.21 | 1.94 | 1.91 |
| Total Shareholders' Equity | 74.19M | 101.02M | 334.56M | 332.36M | 269.26M | 269.26M | 234.97M | 232.78M |
| Common Stock | 133K | 133K | 136K | 136K | 136K | 137K | 137K | 137K |
| Retained Earnings | 38.46M | 64.74M | 10.66M | 4.73M | -68.31M | -68.31M | -101.05M | -111.87M |
| Treasury Stock | -193K | -193K | 0 | 0 | -179K | -179K | -7.5M | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 7.25M | 6.74M | 23.41M | 21.38M | 30.55M | 30.55M | 27.94M | 26.11M |
InnovAge Holding Corp. (INNV) cash flow — operating, investing & free cash flow history
| Line item | Jun'19 | Jun'20 | Jun'21 | Jun'22 | Jun'23 | Jun'24 | Jun'25 | TTM |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 25.91M | 43.83M | -7.55M | 27.3M | -36.9M | -36.9M | 32.87M | 32.87M |
| Operating CF Margin % | 5.56% | 7.73% | -1.18% | 3.91% | -5.36% | -4.83% | 3.85% | - |
| Operating CF Growth % | - | 69.18% | -117.22% | 461.71% | -235.15% | 0% | 189.07% | 602.73% |
| Net Income | 19.07M | 25.77M | -43.99M | -6.52M | -23.22M | -23.22M | -35.34M | -22.2M |
| Depreciation & Amortization | 9M | 11.29M | 13.35M | 14.35M | 18.95M | 18.95M | 19.51M | 20.11M |
| Stock-Based Compensation | 727K | 543K | 47.05M | 3.74M | 6.83M | 6.83M | 7.62M | 7.19M |
| Deferred Taxes | 3.55M | 3.17M | 0 | 0 | 1.22M | 1.22M | 1.3M | 555K |
| Other Non-Cash Items | 3.56M | 9.39M | -21.37M | 23.13M | 11.46M | 11.46M | 24.54M | 44.45M |
| Working Capital Changes | -9.99M | -6.33M | -2.59M | -7.4M | -52.15M | -52.15M | 15.23M | 1.84M |
| Change in Receivables | 1.13M | -1.2M | 5.88M | -9.51M | -33.4M | -30.33M | 11.22M | 4.32M |
| Change in Inventory | -7.92M | -4.12M | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 9.36M | -1.01M | 0 | 0 | 1.37M | 1.37M | 20.43M | 40.68M |
| Cash from Investing | -52.48M | -11.69M | -19.54M | -40.24M | -26.37M | -26.37M | -5.55M | -3.12M |
| Capital Expenditures | -14.49M | -11.84M | -17.54M | -38.24M | -7.91M | -7.91M | -6.26M | -11.39M |
| CapEx % of Revenue | 3.11% | 2.09% | 2.75% | 5.47% | 1.15% | 1.04% | 0.73% | - |
| Acquisitions | -36.49M | 169K | 0 | 0 | -19.07M | -19.07M | -3.52M | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | -37.99M | 1.3M | -2M | -2M | 0 | 0 | 0 | 10.02M |
| Cash from Financing | 37.35M | 21.23M | 116.22M | -6.32M | -7.03M | -7.03M | -19.08M | -8.51M |
| Debt Issued (Net) | 115.81M | 21.23M | -139.45M | -6.32M | -8.43M | -8.43M | -9.91M | -8.22M |
| Equity Issued (Net) | 277K | 0 | -77.6M | 0 | -179K | -179K | -7.32M | 2.08M |
| Dividends Paid | -66.51M | 0 | -9.5M | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -193K | 0 | -77.6M | 0 | -179K | -179K | -7.32M | -1.09M |
| Other Financing | -12.24M | 0 | 342.77M | 0 | 1.58M | 1.58M | -1.85M | -2.37M |
| Net Change in Cash | 10.77M▲ 0% | 53.37M▲ 395.3% | 89.14M▲ 67.0% | -19.25M▼ 121.6% | -70.31M▼ 265.1% | -70.31M▲ 0.0% | 8.23M▲ 111.7% | 26.13M▲ 0% |
| Free Cash Flow | 11.42M▲ 0% | 31.98M▲ 180.1% | -25.09M▼ 178.4% | -10.94M▲ 56.4% | -44.81M▼ 309.8% | -44.81M▲ 0.0% | 26.6M▲ 159.4% | 38.79M▲ 0% |
| FCF Margin % | 2.45% | 5.64% | -3.93% | -1.57% | -6.51% | -5.87% | 3.12% | 4.1% |
| FCF Growth % | - | 180.07% | -178.44% | 56.41% | -309.77% | 0% | 159.37% | 142.59% |
| FCF per Share | 0.09 | 0.24 | -0.19 | -0.08 | -0.33 | -0.33 | 0.20 | 0.20 |
| FCF Conversion (FCF/Net Income) | 1.32x | 1.67x | 0.17x | -4.19x | 0.91x | 1.73x | -1.08x | -1.75x |
| Interest Paid | 8.84M | 11.55M | 18.03M | 1.47M | 4.06M | 4.06M | 4.35M | 2.23M |
| Taxes Paid | 4.53M | 4.75M | 0 | 0 | 4.45M | 4.45M | 1K | 0 |
InnovAge Holding Corp. (INNV) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 27.78% | -18.89% | -1.83% | -12.45% | -7.12% | -10.77% | -8.18% |
| Return on Invested Capital (ROIC) | 17.93% | 25.05% | -1.35% | -12.15% | -4.88% | -6.81% | -6.81% |
| Gross Margin | 24.91% | 25.37% | 19.38% | 14.72% | 17.29% | 68.5% | 14.81% |
| Net Margin | 4.63% | -6.9% | -0.93% | -5.91% | -2.79% | -3.55% | -2.35% |
| Debt / Equity | 2.02x | 0.23x | 0.24x | 0.38x | 0.38x | 0.38x | 0.38x |
| Interest Coverage | 3.44x | -1.08x | -1.87x | -32.37x | -4.42x | -3.50x | 5.96x |
| FCF Conversion | 1.67x | 0.17x | -4.19x | 0.91x | 1.73x | -1.08x | -1.75x |
| Revenue Growth | 21.81% | 12.45% | 9.54% | -1.51% | 11.01% | 11.76% | 13.73% |
InnovAge Holding Corp. (INNV) SEC filings — annual & quarterly reports (10-K, 10-Q)
May 5, 2026·SEC
Mar 17, 2026·SEC
Feb 3, 2026·SEC
InnovAge Holding Corp. (INNV) stock FAQ — growth, dividends, profitability & financials explained
InnovAge Holding Corp. (INNV) reported $945.9M in revenue for fiscal year 2025. This represents a 103% increase from $465.6M in 2019.
InnovAge Holding Corp. (INNV) grew revenue by 11.8% over the past year. This is steady growth.
InnovAge Holding Corp. (INNV) reported a net loss of $22.2M for fiscal year 2025.
InnovAge Holding Corp. (INNV) has a return on equity (ROE) of -10.8%. Negative ROE indicates the company is unprofitable.
InnovAge Holding Corp. (INNV) generated $38.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
InnovAge Holding Corp. (INNV) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates