Innovex International, Inc. (INVX) 10-Year Financial Performance & Capital Metrics

INVX • • Industrial / General

EnergyOilfield ServicesDrilling Equipment & ServicesDrilling Tools & Rentals

AboutInnovex International, Inc. engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.Show more

Revenue $661M +18.9%
EBITDA $89M -30.4%
Net Income $140M +89.8%
EPS (Diluted) 2.77 +89.7%
Gross Margin 35.2%
EBITDA Margin 13.41% -41.5%
Operating Margin 7.43% -57.6%
Net Margin 21.24% +59.6%
ROE 21.81% -14.4%
ROIC 5.33% -72.1%
Debt/Equity 0.10 -63.2%
Interest Coverage 20.20 +14.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 25.5%
✓Strong 5Y profit CAGR of 141.2%
✓Momentum leader: RS Rating 83 (top 17%)
✓Trading near 52-week high
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.37%

5Y9.76%

3Y30.87%

TTM75.84%

Profit (Net Income) CAGR

10Y-3.89%

5Y141.17%

3Y142.39%

TTM-20.37%

EPS CAGR

10Y-6.09%

5Y125.41%

3Y114.67%

TTM-47.69%

ROCE

10Y Avg8.29%

5Y Avg12.02%

3Y Avg19.88%

Latest6.86%

Peer Comparison

Drilling Tools & Rentals

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
XPROExpro Group Holdings N.V.	1.84B	16.24	36.09	13.22%	4.15%	4.54%	1.4%	0.14
DTIDrilling Tools International Corp.	111.58M	3.17	33.98	1.59%	-3.93%	-5.22%		0.64
INVXInnovex International, Inc.	1.68B	24.31	8.78	18.95%	10.58%	9.73%	4.77%	0.10
KLXEKLX Energy Services Holdings, Inc.	37.82M	2.12	-0.65	-20.16%	-11.89%	-374.56%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	844.31M	538.73M	455.47M	384.63M	414.81M	364.97M	294.84M	467.19M	555.54M	660.8M
Revenue Growth %	-0.09%	-0.36%	-0.15%	-0.16%	0.08%	-0.12%	-0.19%	0.58%	0.19%	0.19%
Cost of Goods Sold+	459.29M	328.4M	305.39M	271.5M	295.37M	269.88M	207.44M	309.07M	360.1M	428.17M
COGS % of Revenue	0.54%	0.61%	0.67%	0.71%	0.71%	0.74%	0.7%	0.66%	0.65%	0.65%
Gross Profit+	385.02M	210.33M	150.07M	113.13M	119.44M	95.09M	87.4M	158.12M	195.44M	232.63M
Gross Margin %	0.46%	0.39%	0.33%	0.29%	0.29%	0.26%	0.3%	0.34%	0.35%	0.35%
Gross Profit Growth %	-0.08%	-0.45%	-0.29%	-0.25%	0.06%	-0.2%	-0.08%	0.81%	0.24%	0.19%
Operating Expenses+	140.09M	123.07M	158.41M	144.46M	113.75M	113.79M	73.32M	82.27M	98.16M	183.56M
OpEx % of Revenue	0.17%	0.23%	0.35%	0.38%	0.27%	0.31%	0.25%	0.18%	0.18%	0.28%
Selling, General & Admin	91.94M	78.74M	116.25M	105.04M	96.42M	94.87M	55.58M	59.19M	72.8M	116.18M
SG&A % of Revenue	0.11%	0.15%	0.26%	0.27%	0.23%	0.26%	0.19%	0.13%	0.13%	0.18%
Research & Development	48.15M	44.33M	42.16M	39.42M	17.33M	18.92M	0	0	0	0
R&D % of Revenue	0.06%	0.08%	0.09%	0.1%	0.04%	0.05%	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	17.73M	23.08M	25.36M	67.38M
Operating Income+	244.94M	87.26M	-8.34M	-31.33M	5.69M	-18.7M	14.08M	75.84M	97.28M	49.08M
Operating Margin %	0.29%	0.16%	-0.02%	-0.08%	0.01%	-0.05%	0.05%	0.16%	0.18%	0.07%
Operating Income Growth %	-0.11%	-0.64%	-1.1%	-2.76%	1.18%	-4.29%	1.75%	4.39%	0.28%	-0.5%
EBITDA+	275.41M	119.12M	32.64M	3.98M	39.71M	13.69M	31.81M	100.8M	127.34M	88.6M
EBITDA Margin %	0.33%	0.22%	0.07%	0.01%	0.1%	0.04%	0.11%	0.22%	0.23%	0.13%
EBITDA Growth %	-0.1%	-0.57%	-0.73%	-0.88%	8.98%	-0.66%	1.32%	2.17%	0.26%	-0.3%
D&A (Non-Cash Add-back)	30.48M	31.86M	40.97M	35.31M	34.02M	32.39M	17.73M	24.96M	30.06M	39.52M
EBIT	249.77M	115.87M	-65.64M	-114.99M	10.74M	-61.43M	15.85M	76.96M	99.87M	145.24M
Net Interest Income+	0	0	0	0	7.63M	1.51M	-2.15M	-4.03M	-5.51M	-2.43M
Interest Income	948K	3.04M	3.56M	8.04M	7.94M	2.13M	0	0	0	0
Interest Expense	0	0	0	0	314K	621K	2.15M	4.03M	5.51M	2.43M
Other Income/Expense	4.84M	28.61M	-57.31M	-83.66M	4.74M	-43.35M	-382K	-2.91M	-2.92M	93.74M
Pretax Income+	249.77M	115.87M	-65.64M	-114.99M	10.43M	-62.05M	13.7M	72.93M	94.37M	142.81M
Pretax Margin %	0.3%	0.22%	-0.14%	-0.3%	0.03%	-0.17%	0.05%	0.16%	0.17%	0.22%
Income Tax+	57.76M	22.65M	34.99M	-19.29M	8.71M	-31.28M	3.84M	9.65M	20.44M	2.49M
Effective Tax Rate %	0.77%	0.8%	1.53%	0.83%	0.16%	0.5%	0.72%	0.87%	0.78%	0.98%
Net Income+	192.01M	93.22M	-100.64M	-95.69M	1.72M	-30.77M	9.85M	63.28M	73.93M	140.32M
Net Margin %	0.23%	0.17%	-0.22%	-0.25%	0%	-0.08%	0.03%	0.14%	0.13%	0.21%
Net Income Growth %	-0.08%	-0.51%	-2.08%	0.05%	1.02%	-18.89%	1.32%	5.42%	0.17%	0.9%
Net Income (Continuing)	192.01M	93.22M	-100.64M	-95.69M	1.72M	-30.77M	9.85M	63.28M	73.93M	140.32M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	4.98	2.47	-2.69	-2.58	0.05	-0.87	0.28	4.05	1.46	2.77
EPS Growth %	-0.04%	-0.5%	-2.09%	0.04%	1.02%	-19.28%	1.32%	13.46%	-0.64%	0.9%
EPS (Basic)	5.00	2.48	-2.69	-2.58	0.05	-0.87	0.28	4.17	2.07	2.82
Diluted Shares Outstanding	38.53M	37.67M	37.46M	37.08M	36.15M	35.26M	35.28M	15.62M	50.56M	50.63M
Basic Shares Outstanding	38.36M	37.54M	37.46M	37.08M	35.84M	35.26M	35.28M	15.18M	35.78M	49.73M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	0.53%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.12B	1.06B	1.01B	852.98M	880.49M	863.19M	192.91M	282.39M	288.27M	641.39M
Cash & Short-Term Investments	381.34M	423.5M	493.18M	418.1M	398.95M	345.95M	9.74M	8.42M	7.41M	73.28M
Cash Only	381.34M	423.5M	493.18M	418.1M	398.95M	345.95M	9.74M	8.42M	7.41M	73.28M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	319.78M	213.51M	191.63M	202.16M	248.16M	256.52M	82.67M	126.23M	122.14M	266.34M
Days Sales Outstanding	138.24	144.66	153.57	191.85	218.36	256.54	102.34	98.62	80.25	147.12
Inventory	344.46M	355.41M	291.09M	191.19M	205.06M	212.54M	92.29M	136.66M	141.19M	271.17M
Days Inventory Outstanding	273.74	395.02	347.9	257.04	253.4	287.44	162.39	161.38	143.11	231.16
Other Current Assets	78.72M	64.29M	32.65M	41.52M	28.32M	48.18M	2.49M	2.85M	4.95M	9.88M
Total Non-Current Assets+	303.95M	404.69M	391.26M	339.53M	326.08M	287.98M	91.98M	153.9M	187.03M	556.09M
Property, Plant & Equipment	294.25M	323.15M	284.25M	274.12M	263.64M	242.01M	37.47M	69.94M	85.1M	245.66M
Fixed Asset Turnover	2.87x	1.67x	1.60x	1.40x	1.57x	1.51x	7.87x	6.68x	6.53x	2.69x
Goodwill	0	34.37M	47.62M	7.71M	7.95M	0	16.67M	23.93M	23.93M	60.18M
Intangible Assets	0	29.59M	38.41M	34.97M	32.07M	29.26M	35.93M	49.84M	41.81M	108.36M
Long-Term Investments	0	0	0	0	0	0	0	0	20.02M	0
Other Non-Current Assets	9.7M	15.88M	15.61M	14.72M	13.49M	10.93M	1.91M	3.48M	2.15M	7.35M
Total Assets+	1.43B	1.46B	1.4B	1.19B	1.21B	1.15B	284.89M	436.29M	475.3M	1.2B
Asset Turnover	0.59x	0.37x	0.33x	0.32x	0.34x	0.32x	1.03x	1.07x	1.17x	0.55x
Asset Growth %	-0.01%	0.02%	-0.04%	-0.15%	0.01%	-0.05%	-0.75%	0.53%	0.09%	1.52%
Total Current Liabilities+	100.81M	101.48M	99.91M	82.26M	96.94M	85.51M	69.57M	85.02M	78.62M	162.66M
Accounts Payable	30.93M	36.11M	33.48M	26.69M	46.32M	37.42M	38.34M	41.65M	32.03M	65.2M
Days Payables Outstanding	24.58	40.13	40.01	35.89	57.24	50.61	67.45	49.19	32.47	55.58
Short-Term Debt	0	0	36.53M	18.92M	1.54M	1.25M	4M	5M	5M	5M
Deferred Revenue (Current)	0	0	1000K	1000K	1000K	1000K	0	0	0	1000K
Other Current Liabilities	35.95M	28.58M	25.13M	26.99M	21.59M	25.07M	3.96M	4.25M	670K	2.39M
Current Ratio	11.15x	10.41x	10.09x	10.37x	9.08x	10.09x	2.77x	3.32x	3.67x	3.94x
Quick Ratio	7.74x	6.91x	7.18x	8.05x	6.97x	7.61x	1.45x	1.71x	1.87x	2.28x
Cash Conversion Cycle	387.4	499.55	461.45	413	414.52	493.37	197.27	210.82	190.89	322.7
Total Non-Current Liabilities+	2.98M	3.5M	5.43M	14.09M	18.92M	24.13M	34.77M	99.99M	67.76M	76.67M
Long-Term Debt	0	0	0	0	0	0	31.24M	76.4M	35.25M	20.02M
Capital Lease Obligations	0	0	0	0	4.03M	5.94M	2.19M	23.52M	32.48M	50.03M
Deferred Tax Liabilities	2.98M	3.5M	3.43M	2.47M	4.15M	6.78M	0	0	0	624K
Other Non-Current Liabilities	0	0	2M	11.62M	10.75M	11.41M	1.35M	61K	31K	5.99M
Total Liabilities	103.79M	104.98M	105.34M	96.35M	115.86M	109.64M	104.34M	185.01M	146.38M	239.33M
Total Debt+	0	0	0	0	5.57M	7.19M	39.22M	114.58M	84.91M	91.07M
Net Debt	-381.34M	-423.5M	-493.18M	-418.1M	-393.38M	-338.77M	29.48M	106.17M	77.5M	17.79M
Debt / Equity	-	-	-	-	0.01x	0.01x	0.22x	0.46x	0.26x	0.10x
Debt / EBITDA	-	-	-	-	0.14x	0.53x	1.23x	1.14x	0.67x	1.03x
Net Debt / EBITDA	-1.38x	-3.56x	-15.11x	-105.10x	-9.91x	-24.75x	0.93x	1.05x	0.61x	0.20x
Interest Coverage	-	-	-	-	18.11x	-30.12x	6.53x	18.80x	17.67x	20.20x
Total Equity+	1.32B	1.36B	1.29B	1.1B	1.09B	1.04B	180.55M	251.28M	328.92M	958.16M
Equity Growth %	0.06%	0.02%	-0.05%	-0.15%	-0%	-0.05%	-0.83%	0.39%	0.31%	1.91%
Book Value per Share	34.37	36.01	34.56	29.57	30.17	29.54	5.12	16.08	6.51	18.93
Total Shareholders' Equity	1.32B	1.36B	1.29B	1.1B	1.09B	1.04B	180.55M	251.28M	328.92M	958.16M
Common Stock	378K	375K	372K	376K	371K	363K	151K	154K	309K	692K
Retained Earnings	1.43B	1.5B	1.4B	1.21B	1.18B	1.13B	8.7M	71.98M	145.91M	211.25M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-101.26M	-150.41M	-126.29M	-145.11M	-143.56M	-149.71M	2.48M	318K	2.07M	-8.86M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	190.16M	246.52M	107.99M	45.5M	14.68M	-21.09M	-2.02M	-5.81M	75.86M	93.44M
Operating CF Margin %	0.23%	0.46%	0.24%	0.12%	0.04%	-0.06%	-0.01%	-0.01%	0.14%	0.14%
Operating CF Growth %	0.27%	0.3%	-0.56%	-0.58%	-0.68%	-2.44%	0.9%	-1.87%	14.06%	0.23%
Net Income	192.01M	93.22M	-100.64M	-95.69M	1.72M	-30.77M	9.85M	63.28M	604K	140.32M
Depreciation & Amortization	30.48M	31.86M	40.97M	35.31M	34.02M	32.39M	30.5M	18.47M	30.06M	39.52M
Stock-Based Compensation	0	0	0	0	0	0	703K	907K	0	13.25M
Deferred Taxes	-3.46M	-3.4M	17.23M	-4.09M	598K	4.95M	-8.7M	-6.71M	-7.41M	-4.59M
Other Non-Cash Items	13.19M	12.11M	75.07M	105.86M	12.38M	55.43M	-1.98M	-2.12M	76.42M	-90.36M
Working Capital Changes	-42.06M	112.73M	75.36M	4.11M	-34.04M	-83.08M	-32.39M	-79.63M	-23.81M	-4.7M
Change in Receivables	36.73M	106.54M	26.11M	-11.86M	-46.25M	-9.31M	-27.11M	-37.56M	-29.08M	13.22M
Change in Inventory	28.54M	7.87M	37.64M	49.93M	-14.05M	-28.29M	-13.95M	-44.21M	-28.64M	7.87M
Change in Payables	-89.37M	-11.37M	1.76M	-18.75M	15.34M	-20.39M	9.57M	2.4M	4.21M	-22.34M
Cash from Investing+	-26.66M	-157.85M	-44.89M	-15.17M	-8.47M	-5.63M	-22.06M	-37.52M	-32.43M	78.44M
Capital Expenditures	-27.08M	-25.76M	-27.62M	-32.06M	-11.5M	-11.94M	-6.44M	-9.57M	-32.63M	-13.59M
CapEx % of Revenue	0.03%	0.05%	0.06%	0.08%	0.03%	0.03%	0.02%	0.02%	0.06%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	6.58M	33.2M	47.39M	3.25M
Cash from Financing+	-73.56M	-21.89M	560K	-99.2M	-24.57M	-25.18M	10.05M	42.28M	-44.56M	-103.07M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	-74.98M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	70K	135K	0	-815K	-183K	-183K	0	-719K	393K	-10.23M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	163.08M	220.76M	80.37M	13.44M	3.18M	-33.03M	-8.47M	-15.39M	60.38M	79.84M
FCF Margin %	0.19%	0.41%	0.18%	0.03%	0.01%	-0.09%	-0.03%	-0.03%	0.11%	0.12%
FCF Growth %	0.53%	0.35%	-0.64%	-0.83%	-0.76%	-11.4%	0.74%	-0.82%	4.92%	0.32%
FCF per Share	4.23	5.86	2.15	0.36	0.09	-0.94	-0.24	-0.98	1.19	1.58
FCF Conversion (FCF/Net Income)	0.99x	2.64x	-1.07x	-0.48x	8.53x	0.69x	-0.21x	-0.09x	1.03x	0.67x
Interest Paid	0	0	0	0	0	0	0	3.15M	5.75M	1.99M
Taxes Paid	0	0	0	0	0	0	0	14.98M	28.39M	5.6M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	14.94%	6.95%	-7.59%	-8.01%	0.16%	-2.89%	1.61%	29.31%	25.48%	21.81%
Return on Invested Capital (ROIC)	19.44%	6.98%	-0.72%	-3.18%	0.62%	-2%	2.31%	20.05%	19.1%	5.33%
Gross Margin	45.6%	39.04%	32.95%	29.41%	28.79%	26.05%	29.64%	33.84%	35.18%	35.2%
Net Margin	22.74%	17.3%	-22.1%	-24.88%	0.41%	-8.43%	3.34%	13.54%	13.31%	21.24%
Debt / Equity	-	-	-	-	0.01x	0.01x	0.22x	0.46x	0.26x	0.10x
Interest Coverage	-	-	-	-	18.11x	-30.12x	6.53x	18.80x	17.67x	20.20x
FCF Conversion	0.99x	2.64x	-1.07x	-0.48x	8.53x	0.69x	-0.21x	-0.09x	1.03x	0.67x
Revenue Growth	-9.31%	-36.19%	-15.46%	-15.55%	7.85%	-12.01%	-19.22%	58.45%	18.91%	18.95%

Frequently Asked Questions

Valuation & Price

Innovex International, Inc. (INVX) has a price-to-earnings (P/E) ratio of 8.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Innovex International, Inc. (INVX) reported $955.3M in revenue for fiscal year 2024. This represents a 59% increase from $601.3M in 2011.

Innovex International, Inc. (INVX) grew revenue by 18.9% over the past year. This is strong growth.

Yes, Innovex International, Inc. (INVX) is profitable, generating $101.1M in net income for fiscal year 2024 (21.2% net margin).

Dividend & Returns

Yes, Innovex International, Inc. (INVX) pays a dividend with a yield of 6.09%. This makes it attractive for income-focused investors.

Innovex International, Inc. (INVX) has a return on equity (ROE) of 21.8%. This is excellent, indicating efficient use of shareholder capital.

Innovex International, Inc. (INVX) generated $141.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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