Innovex International (INVX) Financials

$26.66 -0.76 (-2.78%)

Closing price 03:59 PM Eastern

Extended Trading

$26.97 +0.32 (+1.19%)

As of 05:39 PM Eastern

Annual Income Statements for Innovex International

This table shows Innovex International's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	192	93	-101	-96	1.72	-31	-128	63	74	140	83
Consolidated Net Income / (Loss)	192	93	-101	-96	1.72	-31	-128	63	74	140	83
Net Income / (Loss) Continuing Operations	192	93	-101	-96	1.72	-31	-128	63	74	140	83
Total Pre-Tax Income	250	116	-66	-115	10	-62	-126	73	94	143	129
Total Operating Income	249	113	-69	-123	2.80	-64	-125	76	97	49	133
Total Gross Profit	385	210	125	91	120	95	13	158	195	233	303
Total Revenue	844	539	455	385	415	365	322	467	556	661	978
Operating Revenue	844	539	455	385	415	365	322	467	556	661	978
Total Cost of Revenue	459	328	330	294	295	270	309	309	360	428	675
Operating Cost of Revenue	459	328	330	294	-	270	309	309	360	428	675
Total Operating Expenses	136	97	194	214	117	159	139	82	98	184	171
Selling, General & Admin Expense	88	53	114	102	98	95	115	59	73	116	129
Depreciation Expense	-	-	-	-	-	-	-	18	23	31	61
Impairment Charge	0.00	-	61	39	0.00	7.72	-	0.96	0.27	3.52	3.43
Restructuring Charge	-	0.00	-	60	4.40	35	12	-	2.33	33	18
Other Special Charges / (Income)	-	-0.10	-0.17	-6.20	-1.51	-0.59	-4.48	0.71	0.11	-0.65	-40
Total Other Income / (Expense), net	0.94	3.01	3.49	7.75	7.63	1.51	-0.21	-2.91	-2.92	94	-4.10
Interest Expense	0.01	0.03	0.07	0.29	0.31	0.62	0.21	4.03	5.51	2.43	2.58
Interest & Investment Income	0.95	3.04	3.56	8.04	7.94	2.13	-	0.00	2.98	11	0.00
Other Income / (Expense), net	-	-	-	-	-	-	-	1.12	-0.39	86	-1.51
Income Tax Expense	58	23	35	-19	8.71	-31	2.95	9.65	20	2.49	45
Basic Earnings per Share	$5.00	$2.48	($2.69)	($2.58)	$0.05	($0.87)	($3.63)	$2.07	$2.39	$2.82	$1.21
Weighted Average Basic Shares Outstanding	38.36M	37.54M	37.46M	37.08M	35.84M	35.26M	35.33M	30.54M	30.93M	49.73M	69.01M
Diluted Earnings per Share	$4.98	$2.47	($2.69)	($2.58)	$0.05	($0.87)	($3.63)	$2.01	$2.29	$2.77	$1.20
Weighted Average Diluted Shares Outstanding	38.53M	37.67M	37.46M	37.08M	36.15M	35.26M	35.33M	31.44M	32.34M	50.63M	69.38M
Weighted Average Basic & Diluted Shares Outstanding	38.40M	37.60M	37.40M	36.39M	35.87M	35.43M	34.79M	34.17M	34.41M	69.26M	69.14M

This table shows Innovex International's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	3.48	15	54	16	9.53	83	80	15	15	39	14
Consolidated Net Income / (Loss)	3.48	15	53	16	9.53	83	80	15	15	39	14
Net Income / (Loss) Continuing Operations	3.48	15	53	16	9.53	83	80	15	15	39	14
Total Pre-Tax Income	5.59	23	60	22	14	80	82	21	22	58	27
Total Operating Income	3.61	24	67	22	13	-13	86	22	23	62	26
Total Gross Profit	24	50	96	49	46	53	111	77	72	76	79
Total Revenue	90	139	236	128	130	152	278	240	224	240	274
Operating Revenue	90	139	236	128	130	152	278	240	224	240	274
Total Cost of Revenue	66	89	140	79	84	99	167	164	153	164	194
Operating Cost of Revenue	66	89	140	79	84	99	167	164	153	164	194
Total Operating Expenses	20	26	30	27	33	66	25	55	49	14	53
Selling, General & Admin Expense	22	19	8.87	21	19	38	18	32	29	36	32
Depreciation Expense	-	5.77	-	4.79	6.59	7.79	-	15	15	15	15
Restructuring Charge	-0.61	-	-	0.77	4.42	20	-	4.29	5.13	3.64	4.46
Other Special Charges / (Income)	-0.74	-	-	-0.12	-0.19	-0.17	-0.34	0.15	-0.42	-41	1.36
Total Other Income / (Expense), net	1.98	-0.63	-7.01	-0.77	0.79	93	-3.73	-0.49	-0.46	-4.32	1.17
Interest Expense	-1.98	1.52	8.72	0.72	0.61	0.73	5.95	0.70	0.55	0.68	0.65
Other Income / (Expense), net	-	0.04	-	-0.52	0.65	93	-	0.21	0.09	-3.65	1.83
Income Tax Expense	2.10	7.88	6.83	5.12	4.33	-2.59	2.50	6.61	6.89	19	13
Basic Earnings per Share	$0.10	$0.50	$1.72	$0.53	$0.31	$2.03	$1.42	$0.21	$0.22	$0.57	$0.21
Weighted Average Basic Shares Outstanding	34.13M	30.93M	30.93M	30.98M	30.98M	40.73M	49.73M	69.29M	68.94M	68.81M	69.01M
Diluted Earnings per Share	$0.10	$0.48	$1.64	$0.51	$0.30	$1.99	$1.41	$0.21	$0.22	$0.57	$0.20
Weighted Average Diluted Shares Outstanding	34.49M	32.08M	32.34M	32.29M	32.32M	41.53M	50.63M	69.48M	69.15M	69.27M	69.38M
Weighted Average Basic & Diluted Shares Outstanding	34.18M	34.18M	34.41M	34.42M	34.45M	67.25M	69.26M	68.98M	68.78M	68.93M	69.14M

This table details how cash moves in and out of Innovex International's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	83	42	64	-69	-19	-53	9.50	-1.32	-1.01	66	130
Net Cash From Operating Activities	190	247	108	46	15	-21	38	-5.81	76	93	191
Net Cash From Continuing Operating Activities	190	247	108	46	15	-21	38	-5.81	76	93	191
Net Income / (Loss) Continuing Operations	192	93	-101	-96	1.72	-31	-128	63	74	140	83
Consolidated Net Income / (Loss)	192	93	-101	-96	1.72	-31	-128	63	74	140	83
Depreciation Expense	30	32	41	35	34	32	30	18	23	31	61
Amortization Expense	-	-	-	-	-	-	-	6.80	7.73	8.73	13
Non-Cash Adjustments To Reconcile Net Income	13	12	95	76	-45	56	56	-1.53	1.09	-78	-20
Changes in Operating Assets and Liabilities, net	-45	109	73	30	24	-78	80	-93	-30	-9.30	54
Net Cash From Investing Activities	-27	-158	-45	-15	-8.47	-5.63	-3.21	-38	-32	78	-19
Net Cash From Continuing Investing Activities	-27	-158	-45	-15	-8.47	-5.63	-3.21	-38	-32	78	-19
Purchase of Property, Plant & Equipment	-27	-26	-28	-32	-12	-12	-9.99	-9.58	-15	-14	-35
Acquisitions	0.00	-132	-20	-	-	-	0.00	-29	-18	-66	-84
Sale of Property, Plant & Equipment	0.42	0.36	3.17	17	3.03	6.32	6.78	0.97	1.41	3.25	100
Divestitures	-	-	-	-	-	-	-	0.00	0.00	154	0.00
Net Cash From Financing Activities	-74	-22	0.56	-99	-25	-25	-24	42	-45	-103	-45
Net Cash From Continuing Financing Activities	-74	-22	0.56	-99	-25	-25	-24	42	-45	-103	-45
Repayment of Debt	-	0.00	-	-0.82	-0.18	-0.18	-0.11	-83	-290	-197	-160
Repurchase of Common Equity	-76	-24	-	-100	-27	-25	-24	-1.29	0.00	0.00	-9.28
Payment of Dividends	-	-	-	-	-	-	-	0.00	0.00	-75	0.00
Issuance of Debt	-	-	-	-	-	-	-	132	255	187	144
Other Financing Activities, net	2.24	2.34	0.56	1.62	2.18	-	-	-5.68	-9.27	-19	-20
Effect of Exchange Rate Changes	-7.30	-25	-	-	-0.79	-1.09	-1.43	-0.27	0.12	-2.94	2.88
Cash Interest Paid	-	-	-	-	-	-	-	3.15	5.75	1.99	1.02

This table details how cash moves in and out of Innovex International's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	1.15	28	-0.90	0.23	-13	95	-27	-5.16	0.67	95	40
Net Cash From Operating Activities	11	96	21	13	-9.30	71	36	31	59	48	52
Net Cash From Continuing Operating Activities	11	96	21	13	-9.30	71	36	31	59	48	52
Net Income / (Loss) Continuing Operations	3.48	50	18	16	-1.81	130	32	15	15	39	14
Consolidated Net Income / (Loss)	3.48	50	18	16	-1.81	130	32	15	15	39	14
Depreciation Expense	7.05	2.64	6.08	4.79	8.01	2.73	12	15	15	15	15
Amortization Expense	-	-	1.95	1.99	-	-	2.66	3.02	3.12	3.33	3.35
Non-Cash Adjustments To Reconcile Net Income	13	-2.52	0.34	0.69	2.74	-105	0.46	4.81	3.66	-34	6.28
Changes in Operating Assets and Liabilities, net	-12	41	-5.43	-11	-18	37	-11	-6.44	22	25	13
Net Cash From Investing Activities	-9.28	-46	-0.82	-2.23	-2.01	135	-72	-23	-63	78	-9.96
Net Cash From Continuing Investing Activities	-9.28	-46	-0.82	-2.23	-2.01	135	-72	-23	-63	78	-9.96
Purchase of Property, Plant & Equipment	-10	1.27	-1.14	-2.42	-6.16	4.95	-7.63	-7.06	-7.30	-12	-8.93
Acquisitions	-	-18	-	0.00	-	-	-66	-17	-63	-0.50	-2.50
Sale of Property, Plant & Equipment	0.78	-15	0.32	0.19	0.13	1.55	1.19	1.00	7.68	90	1.47
Net Cash From Financing Activities	-0.01	-23	-22	-10	-0.18	-114	11	-13	2.44	-31	-2.79
Net Cash From Continuing Financing Activities	-0.01	-23	-22	-10	-0.18	-114	11	-13	2.44	-31	-2.79
Other Financing Activities, net	-	-	-2.38	-3.06	-	-	-2.86	-13	-1.87	-2.18	-2.79
Effect of Exchange Rate Changes	-0.84	0.77	0.07	0.11	-1.59	3.01	-2.15	0.61	1.89	-0.16	0.54

This table presents Innovex International's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,428	1,461	1,400	1,193	1,207	1,151	1,010	970	475	1,197	1,268
Total Current Assets	1,124	1,057	1,009	853	880	863	746	750	288	641	728
Cash & Equivalents	381	423	493	418	399	346	355	259	7.41	73	203
Accounts Receivable	320	214	192	202	248	257	204	235	118	240	238
Inventories, net	344	355	291	191	205	213	146	146	141	271	248
Prepaid Expenses	54	-	-	-	-	-	9.62	20	21	48	36
Other Current Assets	-	40	33	42	28	48	31	32	0.00	5.06	2.71
Other Current Nonoperating Assets	-	-	-	-	-	-	0.00	19	0.00	4.75	0.00
Plant, Property, & Equipment, net	294	323	284	274	258	235	216	181	52	191	159
Total Noncurrent Assets	9.70	82	107	65	68	53	49	39	135	365	381
Goodwill	0.00	34	48	7.71	7.95	-	-	0.00	24	60	100
Intangible Assets	0.00	30	38	35	32	29	26	23	42	108	116
Noncurrent Deferred & Refundable Income Taxes	0.00	1.70	5.36	8.00	8.94	5.77	11	4.49	14	135	102
Other Noncurrent Operating Assets	9.70	16	16	15	18	18	11	11	35	62	63
Total Liabilities & Shareholders' Equity	1,428	1,461	1,400	1,193	1,207	1,151	1,010	970	475	1,197	1,268
Total Liabilities	104	105	105	96	116	110	113	98	146	239	211
Total Current Liabilities	101	101	100	82	97	86	94	88	79	163	148
Short-Term Debt	-	-	-	-	-	-	-	-	9.82	10	6.71
Accounts Payable	31	36	33	27	46	37	35	43	32	65	61
Accrued Expenses	19	18	26	32	24	26	37	19	29	61	49
Current Deferred Revenue	18	12	4.77	9.65	6.90	11	9.75	8.02	0.00	13	12
Other Current Liabilities	-	-	-	-	1.31	1.11	1.05	1.05	8.03	13	20
Total Noncurrent Liabilities	2.98	3.50	5.43	15	19	24	20	10	68	77	62
Long-Term Debt	-	-	-	-	-	-	-	-	41	25	19
Noncurrent Deferred & Payable Income Tax Liabilities	2.98	3.50	3.43	2.47	4.15	6.78	3.93	3.76	0.00	0.62	0.50
Other Noncurrent Operating Liabilities	0.00	0.00	2.00	2.72	5.91	7.97	6.10	5.47	27	51	43
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,324	1,356	1,294	1,096	1,091	1,042	897	872	329	958	1,058
Total Preferred & Common Equity	1,324	1,356	1,294	1,096	1,091	1,042	897	872	329	958	1,058
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,324	1,356	1,294	1,096	1,091	1,042	897	872	329	958	1,058
Common Stock	0.38	5.84	20	35	53	66	81	91	181	756	768
Retained Earnings	1,425	1,501	1,400	1,206	1,181	1,125	973	950	146	211	285
Accumulated Other Comprehensive Income / (Loss)	-101	-150	-126	-145	-144	-150	-157	-169	2.07	-8.86	4.08

This table presents Innovex International's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	974	971	975	980	1,008	1,021	1,008	1,133	1,196	1,227	1,254
Total Current Assets	748	746	752	755	709	715	708	677	633	670	710
Cash & Equivalents	321	290	235	236	181	198	186	100	68	69	163
Accounts Receivable	216	220	282	275	288	277	287	225	236	221	220
Inventories, net	140	141	153	165	183	209	205	298	269	278	275
Prepaid Expenses	-	-	16	19	19	13	17	45	48	56	47
Other Current Assets	50	49	36	31	18	8.29	8.01	8.15	5.51	3.12	2.99
Other Current Nonoperating Assets	21	20	11	11	11	1.51	1.51	1.54	5.76	43	0.95
Plant, Property, & Equipment, net	180	181	183	186	212	215	211	182	188	151	159
Total Noncurrent Assets	46	43	40	39	87	91	89	273	375	406	385
Long-Term Investments	-	-	-	-	-	-	-	20	0.00	0.00	0.00
Goodwill	-	-	-	-	16	16	16	24	76	94	95
Intangible Assets	25	24	23	22	43	40	39	36	105	125	120
Noncurrent Deferred & Refundable Income Taxes	10	8.89	4.85	4.37	5.84	9.66	10	139	129	122	104
Other Noncurrent Operating Assets	11	11	12	12	22	24	24	55	66	65	65
Total Liabilities & Shareholders' Equity	974	971	975	980	1,008	1,021	1,008	1,133	1,196	1,227	1,254
Total Liabilities	105	106	95	100	137	164	156	228	218	232	215
Total Current Liabilities	85	89	83	88	107	134	126	175	146	146	149
Short-Term Debt	-	-	-	-	-	-	-	11	5.56	5.94	6.32
Accounts Payable	46	46	47	54	50	63	61	84	76	65	67
Accrued Expenses	22	22	14	13	25	40	37	56	37	49	46
Current Deferred Revenue	7.28	8.86	7.27	6.01	8.10	6.84	7.96	14	11	6.91	10
Other Current Liabilities	0.94	1.01	1.23	1.12	2.06	2.30	2.45	11	16	19	20
Total Noncurrent Liabilities	20	16	12	12	30	30	29	54	72	86	66
Long-Term Debt	-	-	-	-	-	-	-	12	20	35	20
Noncurrent Deferred & Payable Income Tax Liabilities	4.23	3.92	4.03	4.51	12	10	9.19	0.00	0.73	1.41	0.62
Other Noncurrent Operating Liabilities	5.95	5.98	6.76	6.64	18	19	20	41	51	50	46
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	869	865	880	879	870	857	853	904	978	996	1,039
Total Preferred & Common Equity	869	865	880	879	870	857	853	904	978	996	1,039
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00
Total Common Equity	869	865	880	879	870	857	853	904	978	996	1,039
Common Stock	86	88	93	96	99	103	107	723	757	761	764
Retained Earnings	949	953	955	956	949	931	929	179	225	232	271
Accumulated Other Comprehensive Income / (Loss)	-166	-176	-168	-172	-177	-177	-183	1.71	-4.25	2.48	3.80

This table displays calculated financial ratios and metrics derived from Innovex International's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-9.31%	-36.19%	-15.46%	-15.55%	7.85%	-12.01%	-11.65%	44.89%	18.91%	18.95%	48.04%
EBITDA Growth	-9.87%	-48.19%	-119.46%	-210.44%	142.12%	-184.65%	-204.63%	207.67%	24.51%	37.11%	17.27%
EBIT Growth	-10.73%	-54.65%	-161.26%	-77.53%	102.28%	-2,367.53%	-97.19%	161.41%	25.90%	38.90%	-2.58%
NOPAT Growth	-8.14%	-52.53%	-153.30%	-77.53%	100.54%	-9,724.24%	-97.19%	175.01%	15.81%	-36.73%	78.25%
Net Income Growth	-8.00%	-51.45%	-207.96%	4.91%	101.80%	-1,888.84%	-317.62%	149.25%	16.83%	89.82%	-40.64%
EPS Growth	-4.05%	-50.40%	-208.91%	4.09%	101.94%	-1,840.00%	-317.24%	155.37%	13.93%	20.96%	-56.68%
Operating Cash Flow Growth	27.35%	29.64%	-56.19%	-57.86%	-67.74%	-243.67%	282.23%	-115.12%	1,405.52%	23.17%	104.32%
Free Cash Flow Firm Growth	63.01%	-48.12%	-17.57%	-55.19%	-135.47%	-265.13%	237.00%	-22.14%	443.88%	-283.90%	123.58%
Invested Capital Growth	-0.36%	-1.08%	-14.11%	-15.38%	2.02%	0.55%	-22.13%	2.64%	-36.70%	160.17%	-3.89%
Revenue Q/Q Growth	-5.93%	-15.06%	-56.27%	299.61%	2.75%	-23.56%	0.21%	78.40%	33.47%	35.70%	2.40%
EBITDA Q/Q Growth	-6.25%	-30.62%	-1.79%	-1,691.59%	154.64%	-153.81%	-175.36%	361.42%	145.24%	696.35%	6.43%
EBIT Q/Q Growth	-6.72%	-36.53%	-0.69%	-320.11%	102.75%	-38.57%	-93.39%	211.25%	242.90%	316.45%	6.72%
NOPAT Q/Q Growth	-5.42%	-34.42%	-0.69%	-320.11%	100.65%	-38.57%	-93.39%	235.89%	362.96%	176.10%	-18.03%
Net Income Q/Q Growth	-5.29%	-33.54%	-261.37%	-3.71%	102.13%	-153.99%	-69.47%	197.14%	256.18%	248.77%	-17.62%
EPS Q/Q Growth	-4.05%	-33.42%	-258.67%	-4.45%	102.29%	-163.64%	-68.84%	208.65%	257.81%	279.45%	23.71%
Operating Cash Flow Q/Q Growth	-7.45%	-2.53%	8.25%	-30.91%	-24.81%	-662.05%	126.69%	59.86%	105.73%	803.49%	9.08%
Free Cash Flow Firm Q/Q Growth	-10.94%	-55.61%	174.83%	-64.57%	-181.12%	-56.20%	132.88%	91.47%	326.16%	-158.02%	1,132.82%
Invested Capital Q/Q Growth	2.64%	12.43%	-10.27%	-11.62%	1.79%	2.53%	-10.41%	5.04%	-47.45%	13.58%	-2.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.60%	39.04%	27.49%	23.67%	28.88%	26.10%	4.09%	33.84%	35.18%	35.20%	31.00%
EBITDA Margin	33.08%	26.86%	-6.18%	-22.73%	8.88%	-8.54%	-29.45%	21.88%	22.91%	26.41%	20.92%
Operating Margin	29.47%	20.95%	-15.18%	-31.91%	0.68%	-17.41%	-38.87%	16.23%	17.51%	7.43%	13.56%
EBIT Margin	29.47%	20.95%	-15.18%	-31.91%	0.68%	-17.41%	-38.87%	16.47%	17.44%	20.37%	13.40%
Profit (Net Income) Margin	22.74%	17.30%	-22.10%	-24.88%	0.41%	-8.43%	-39.85%	13.54%	13.31%	21.24%	8.52%
Tax Burden Percent	76.87%	80.45%	153.31%	83.22%	16.49%	49.59%	102.35%	86.77%	78.34%	98.26%	64.81%
Interest Burden Percent	100.38%	102.67%	94.95%	93.69%	372.07%	97.62%	100.17%	94.76%	97.39%	106.11%	98.03%
Effective Tax Rate	23.13%	19.55%	0.00%	0.00%	83.51%	0.00%	0.00%	13.23%	21.66%	1.74%	35.19%
Return on Invested Capital (ROIC)	20.25%	9.68%	-5.58%	-11.62%	0.07%	-6.41%	-14.18%	11.99%	16.79%	7.61%	9.57%
ROIC Less NNEP Spread (ROIC-NNEP)	20.03%	9.08%	5.82%	-9.47%	-0.24%	-10.10%	-2.56%	12.74%	18.35%	-927.46%	11.98%
Return on Net Nonoperating Assets (RNNOA)	-5.30%	-2.73%	-2.01%	3.61%	0.09%	3.53%	0.93%	-4.84%	-4.48%	14.20%	-1.31%
Return on Equity (ROE)	14.94%	6.95%	-7.59%	-8.01%	0.16%	-2.89%	-13.26%	7.15%	12.31%	21.81%	8.26%
Cash Return on Invested Capital (CROIC)	20.60%	10.77%	9.60%	5.04%	-1.93%	-6.96%	10.70%	9.39%	61.74%	-81.33%	13.54%
Operating Return on Assets (OROA)	17.30%	7.81%	-4.83%	-9.47%	0.23%	-5.39%	-11.60%	7.77%	13.41%	16.09%	10.63%
Return on Assets (ROA)	13.35%	6.45%	-7.03%	-7.38%	0.14%	-2.61%	-11.89%	6.39%	10.23%	16.78%	6.76%
Return on Common Equity (ROCE)	14.94%	6.95%	-7.59%	-8.01%	0.16%	-2.89%	-13.26%	7.15%	12.31%	21.81%	8.26%
Return on Equity Simple (ROE_SIMPLE)	14.50%	6.87%	-7.77%	-8.73%	0.16%	-2.95%	-14.32%	7.25%	22.48%	14.65%	0.00%
Net Operating Profit after Tax (NOPAT)	191	91	-48	-86	0.46	-44	-88	66	76	48	86
NOPAT Margin	22.66%	16.85%	-10.63%	-22.34%	0.11%	-12.19%	-27.21%	14.09%	13.72%	7.30%	8.79%
Net Nonoperating Expense Percent (NNEP)	0.21%	0.60%	-11.40%	-2.15%	0.31%	3.68%	-11.62%	-0.75%	-1.56%	935.07%	-2.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	7.54%	20.09%	4.85%	7.93%
Cost of Revenue to Revenue	54.40%	60.96%	72.51%	76.33%	71.12%	73.90%	95.91%	66.16%	64.82%	64.80%	69.00%
SG&A Expenses to Revenue	10.43%	9.88%	24.94%	26.54%	23.72%	26.04%	35.68%	12.67%	13.10%	17.58%	13.17%
R&D to Revenue	5.70%	8.23%	4.39%	5.28%	4.18%	5.18%	4.68%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.13%	18.09%	42.67%	55.58%	28.21%	43.52%	42.96%	17.61%	17.67%	27.78%	17.44%
Earnings before Interest and Taxes (EBIT)	249	113	-69	-123	2.80	-64	-125	77	97	135	131
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	279	145	-28	-87	37	-31	-95	102	127	175	205
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.72	1.66	1.40	0.98	1.56	1.00	0.78	1.06	2.42	0.98	1.43
Price to Tangible Book Value (P/TBV)	1.72	1.75	1.49	1.02	1.62	1.03	0.80	1.09	3.02	1.19	1.79
Price to Revenue (P/Rev)	2.69	4.19	3.97	2.79	4.09	2.85	2.16	1.97	1.43	1.42	1.54
Price to Earnings (P/E)	11.83	24.21	0.00	0.00	986.76	0.00	0.00	14.56	10.76	6.69	18.10
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	8.45%	4.13%	0.00%	0.00%	0.10%	0.00%	0.00%	6.87%	9.29%	14.94%	5.53%
Enterprise Value to Invested Capital (EV/IC)	2.00	1.97	1.64	0.97	1.88	1.00	0.63	1.12	2.33	0.98	1.51
Enterprise Value to Revenue (EV/Rev)	2.24	3.40	2.88	1.71	3.13	1.90	1.06	1.34	1.47	1.36	1.36
Enterprise Value to EBITDA (EV/EBITDA)	6.77	12.67	0.00	0.00	35.26	0.00	0.00	6.11	6.43	5.17	6.50
Enterprise Value to EBIT (EV/EBIT)	7.60	16.24	0.00	0.00	463.18	0.00	0.00	8.12	8.45	6.70	10.14
Enterprise Value to NOPAT (EV/NOPAT)	9.88	20.19	0.00	0.00	2,808.42	0.00	0.00	9.49	10.74	18.70	15.47
Enterprise Value to Operating Cash Flow (EV/OCF)	9.94	7.44	12.16	14.42	88.45	0.00	8.87	0.00	10.79	9.65	6.96
Enterprise Value to Free Cash Flow (EV/FCFF)	9.71	18.15	15.77	17.59	0.00	0.00	5.15	12.12	2.92	0.00	10.94
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.15	0.04	0.02
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.12	0.03	0.02
Financial Leverage	-0.26	-0.30	-0.35	-0.38	-0.37	-0.35	-0.36	-0.38	-0.24	-0.02	-0.11
Leverage Ratio	1.12	1.08	1.08	1.08	1.10	1.11	1.12	1.12	1.20	1.30	1.22
Compound Leverage Factor	1.12	1.11	1.02	1.02	4.08	1.08	1.12	1.06	1.17	1.38	1.20
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.28%	3.56%	2.37%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.59%	1.05%	0.62%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.69%	2.51%	1.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	86.72%	96.44%	97.63%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.40	0.20	0.13
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.18	-0.22	-0.87
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.32	0.14	0.09
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.66	0.73	0.30
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.30	-0.79	-2.07
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.53	0.52	0.22
Altman Z-Score	16.56	15.74	12.63	8.87	11.29	8.00	5.72	8.60	6.06	4.00	6.27
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	11.15	10.41	10.09	10.46	9.08	10.09	7.96	8.57	3.67	3.94	4.91
Quick Ratio	6.95	6.28	6.85	7.61	6.68	7.05	5.97	6.02	1.60	1.92	2.98
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	195	101	83	37	-13	-48	66	52	280	-515	122
Operating Cash Flow to CapEx	713.39%	970.33%	441.65%	299.89%	173.27%	-374.70%	1,198.25%	-67.51%	538.92%	903.05%	0.00%
Free Cash Flow to Firm to Interest Expense	16,221.12	3,606.97	1,156.26	128.19	-42.14	-77.79	312.18	12.77	50.90	-212.10	47.07
Operating Cash Flow to Interest Expense	15,846.25	8,804.36	1,499.90	156.37	46.75	-33.96	181.26	-1.44	13.78	38.45	73.94
Operating Cash Flow Less CapEx to Interest Expense	13,625.00	7,897.00	1,160.29	104.23	19.77	-43.02	166.14	-3.57	11.22	34.19	99.09
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.59	0.37	0.32	0.30	0.35	0.31	0.30	0.47	0.77	0.79	0.79
Accounts Receivable Turnover	2.43	2.02	2.25	1.95	1.84	1.45	1.40	2.13	3.14	3.69	4.10
Inventory Turnover	1.25	0.94	1.02	1.22	1.49	1.29	1.73	2.12	2.51	2.08	2.60
Fixed Asset Turnover	2.80	1.75	1.50	1.38	1.56	1.48	1.43	2.35	4.75	5.43	5.60
Accounts Payable Turnover	10.84	9.80	9.49	9.76	8.08	6.44	8.51	7.90	9.60	8.81	10.72
Days Sales Outstanding (DSO)	149.96	180.66	162.33	186.85	198.13	252.36	260.41	171.44	116.18	98.84	89.04
Days Inventory Outstanding (DIO)	292.86	388.93	357.27	299.81	245.14	282.58	211.41	172.26	145.55	175.76	140.49
Days Payable Outstanding (DPO)	33.68	37.26	38.46	37.41	45.17	56.67	42.87	46.21	38.04	41.45	34.04
Cash Conversion Cycle (CCC)	409.13	532.33	481.15	449.25	398.09	478.27	428.95	297.49	223.69	233.15	195.49
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	943	933	801	678	692	696	542	556	352	915	880
Invested Capital Turnover	0.89	0.57	0.53	0.52	0.61	0.53	0.52	0.85	1.22	1.04	1.09
Increase / (Decrease) in Invested Capital	-3.37	-10	-132	-123	14	3.82	-154	14	-204	564	-36
Enterprise Value (EV)	1,890	1,833	1,313	656	1,298	694	341	625	818	902	1,330
Market Capitalization	2,272	2,257	1,806	1,074	1,697	1,040	696	922	795	939	1,507
Book Value per Share	$34.53	$36.09	$34.19	$30.64	$30.15	$29.68	$25.35	$25.72	$9.62	$14.25	$15.35
Tangible Book Value per Share	$34.53	$34.39	$31.92	$29.45	$29.04	$28.84	$24.60	$25.03	$7.70	$11.74	$12.21
Total Capital	1,324	1,356	1,294	1,096	1,091	1,042	897	872	379	994	1,083
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	50	35	26
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	41	25	19
Net Debt	-381	-423	-493	-418	-399	-346	-355	-297	23	-38	-178
Capital Expenditures (CapEx)	27	25	24	15	8.47	5.63	3.21	8.61	14	10	-65
Debt-free, Cash-free Net Working Capital (DFCFNWC)	642	532	415	353	385	432	296	365	212	416	383
Debt-free Net Working Capital (DFNWC)	1,023	955	909	771	784	778	652	662	219	489	587
Net Working Capital (NWC)	1,023	955	909	771	784	778	652	662	210	479	580
Net Nonoperating Expense (NNE)	-0.72	-2.42	52	9.78	-1.26	-14	41	2.53	2.28	-92	2.65
Net Nonoperating Obligations (NNO)	-381	-423	-493	-418	-399	-346	-355	-316	23	-43	-178
Total Depreciation and Amortization (D&A)	30	32	41	35	34	32	30	25	30	40	74
Debt-free, Cash-free Net Working Capital to Revenue	76.06%	98.70%	91.22%	91.87%	92.72%	118.29%	91.93%	78.22%	38.17%	62.94%	39.17%
Debt-free Net Working Capital to Revenue	121.22%	177.31%	199.50%	200.57%	188.90%	213.08%	202.17%	141.80%	39.51%	74.03%	59.96%
Net Working Capital to Revenue	121.22%	177.31%	199.50%	200.57%	188.90%	213.08%	202.17%	141.80%	37.74%	72.45%	59.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.00	$2.48	($2.69)	($2.58)	$0.05	($0.87)	($3.62)	$0.01	$0.00	$2.82	$1.21
Adjusted Weighted Average Basic Shares Outstanding	38.36M	37.54M	37.46M	37.08M	35.84M	35.26M	35.33M	34.24M	0.00	49.73M	69.01M
Adjusted Diluted Earnings per Share	$4.98	$2.47	($2.69)	($2.58)	$0.05	($0.87)	($3.62)	$0.01	$0.00	$2.77	$1.20
Adjusted Weighted Average Diluted Shares Outstanding	38.53M	37.67M	37.46M	37.08M	36.15M	35.26M	35.33M	34.47M	0.00	50.63M	69.38M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.95M	37.81M	38.14M	36.39M	35.87M	35.43M	34.79M	34.17M	0.00	69.26M	69.14M
Normalized Net Operating Profit after Tax (NOPAT)	191	91	-5.84	-21	3.98	-15	-82	67	77	51	74
Normalized NOPAT Margin	22.66%	16.84%	-1.28%	-5.52%	0.96%	-4.04%	-25.57%	14.40%	13.77%	7.72%	7.54%
Pre Tax Income Margin	29.58%	21.51%	-14.41%	-29.90%	2.51%	-17.00%	-38.94%	15.61%	16.99%	21.61%	13.14%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	20,736.25	4,030.68	-960.22	-421.78	8.93	-102.35	-591.20	19.08	17.60	55.39	50.78
NOPAT to Interest Expense	15,940.71	3,242.86	-672.16	-295.25	1.47	-71.64	-413.84	16.31	13.84	19.84	33.29
EBIT Less CapEx to Interest Expense	18,515.00	3,123.32	-1,299.83	-473.92	-18.05	-111.41	-606.33	16.94	15.04	51.13	75.92
NOPAT Less CapEx to Interest Expense	13,719.46	2,335.50	-1,011.77	-347.39	-25.51	-80.71	-428.97	14.18	11.28	15.59	58.44
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	53.44%	0.00%
Augmented Payout Ratio	39.48%	26.00%	0.00%	-104.50%	1,544.77%	-81.25%	-18.83%	2.04%	0.00%	53.44%	11.14%

This table displays calculated financial ratios and metrics derived from Innovex International's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.65%	57.80%	16.86%	40.87%	34.30%	9.15%	17.95%	87.83%	72.09%	58.09%	9.14%
EBITDA Growth	180.32%	36.34%	8.05%	183.53%	-68.64%	209.24%	34.78%	40.12%	83.27%	-13.68%	36.28%
EBIT Growth	193.20%	93.23%	-8.73%	583.53%	-229.40%	231.83%	28.95%	1.25%	66.05%	-26.43%	42.63%
NOPAT Growth	183.03%	21.66%	-13.45%	1,269.84%	-245.24%	-186.08%	41.22%	-11.24%	74.20%	408.92%	-57.18%
Net Income Growth	162.53%	15.63%	-18.19%	610.39%	-152.02%	437.46%	50.73%	-10.11%	60.95%	-52.50%	-56.06%
EPS Growth	162.50%	26.32%	-20.00%	628.57%	-150.00%	314.58%	-14.02%	-58.82%	-26.67%	-71.36%	766.67%
Operating Cash Flow Growth	221.56%	9,124.28%	60.12%	123.82%	-182.47%	-26.65%	69.96%	146.65%	160.07%	122.70%	43.73%
Free Cash Flow Firm Growth	-188.31%	-240.93%	389.14%	73.17%	38.18%	-20.47%	-282.73%	-1,437.45%	-525.62%	64.78%	109.19%
Invested Capital Growth	16.30%	26.52%	-36.70%	5.57%	7.91%	20.37%	160.17%	43.14%	39.71%	11.79%	-3.89%
Revenue Q/Q Growth	-1.38%	55.22%	69.67%	-45.76%	9.11%	26.15%	83.34%	-13.63%	-6.73%	7.03%	14.00%
EBITDA Q/Q Growth	5.74%	150.20%	179.61%	-61.67%	132.22%	2,367.49%	21.86%	-60.15%	2.12%	89.16%	-39.96%
EBIT Q/Q Growth	13.11%	566.14%	176.87%	-67.24%	75.18%	1,808.32%	7.59%	-74.27%	3.28%	157.34%	-52.90%
NOPAT Q/Q Growth	81.16%	604.86%	271.47%	-71.12%	75.18%	-317.78%	709.36%	-81.85%	3.77%	169.15%	-68.30%
Net Income Q/Q Growth	50.71%	341.17%	243.39%	-68.89%	90.93%	4,657.73%	-3.69%	-81.45%	3.98%	155.64%	-64.39%
EPS Q/Q Growth	42.86%	380.00%	241.67%	-68.90%	91.38%	4,080.00%	-29.15%	-85.11%	4.76%	159.09%	-64.91%
Operating Cash Flow Q/Q Growth	121.32%	751.95%	-77.75%	-41.06%	-126.71%	857.76%	-48.45%	-14.46%	90.45%	-18.30%	7.99%
Free Cash Flow Firm Q/Q Growth	-30.26%	-48.74%	311.13%	-106.56%	-9.18%	-189.84%	-220.25%	44.82%	6.77%	78.62%	192.60%
Invested Capital Q/Q Growth	-0.32%	9.19%	-47.45%	84.59%	1.89%	21.80%	13.58%	1.56%	-0.55%	-2.55%	-2.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.67%	35.88%	40.80%	38.35%	30.84%	34.70%	39.86%	31.82%	31.98%	31.64%	28.92%
EBITDA Margin	11.89%	19.17%	31.59%	22.32%	2.78%	54.30%	36.09%	16.65%	18.23%	32.22%	16.97%
Operating Margin	4.02%	17.24%	28.18%	17.43%	-3.88%	-8.71%	30.81%	9.09%	10.12%	25.95%	9.43%
EBIT Margin	4.02%	17.27%	28.18%	17.02%	-3.88%	52.50%	30.81%	9.18%	10.16%	24.43%	10.10%
Profit (Net Income) Margin	3.89%	11.05%	22.36%	12.83%	-1.51%	54.40%	28.57%	6.14%	6.84%	16.35%	5.11%
Tax Burden Percent	62.36%	66.10%	88.54%	76.22%	69.35%	103.23%	96.96%	69.07%	69.01%	67.68%	51.80%
Interest Burden Percent	154.88%	96.78%	89.61%	98.85%	56.00%	100.36%	95.65%	96.83%	97.58%	98.85%	97.63%
Effective Tax Rate	37.64%	33.90%	11.47%	23.78%	0.00%	-3.23%	3.04%	30.93%	30.99%	32.32%	48.20%
Return on Invested Capital (ROIC)	1.61%	7.91%	30.54%	12.45%	-2.02%	-5.93%	31.15%	6.15%	7.64%	19.66%	5.32%
ROIC Less NNEP Spread (ROIC-NNEP)	1.20%	8.09%	34.71%	12.70%	-2.66%	-70.27%	67.86%	6.41%	7.88%	22.14%	4.77%
Return on Net Nonoperating Assets (RNNOA)	-0.42%	-2.50%	-8.48%	-3.46%	0.70%	11.84%	-1.04%	-0.90%	-1.12%	-2.69%	-0.52%
Return on Equity (ROE)	1.19%	5.41%	22.06%	8.99%	-1.32%	5.91%	30.11%	5.25%	6.52%	16.97%	4.80%
Cash Return on Invested Capital (CROIC)	-12.89%	-20.67%	61.74%	9.32%	-10.35%	-27.07%	-81.33%	-29.50%	-26.11%	1.15%	13.54%
Operating Return on Assets (OROA)	1.51%	7.27%	21.67%	10.11%	-1.85%	23.89%	24.34%	6.40%	7.88%	19.56%	8.01%
Return on Assets (ROA)	1.45%	4.65%	17.19%	7.62%	-0.72%	24.75%	22.58%	4.28%	5.31%	13.09%	4.05%
Return on Common Equity (ROCE)	1.19%	5.41%	22.06%	8.99%	-1.32%	5.91%	30.11%	5.25%	6.52%	16.97%	4.80%
Return on Equity Simple (ROE_SIMPLE)	2.12%	2.38%	0.00%	10.27%	-3.17%	4.45%	0.00%	14.17%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	2.25	16	59	17	-3.27	-14	83	15	16	42	13
NOPAT Margin	2.51%	11.40%	24.95%	13.29%	-2.71%	-8.99%	29.87%	6.28%	6.98%	17.56%	4.88%
Net Nonoperating Expense Percent (NNEP)	0.41%	-0.18%	-4.17%	-0.25%	0.64%	64.34%	-36.71%	-0.26%	-0.24%	-2.48%	0.55%
Return On Investment Capital (ROIC_SIMPLE)	-	-	15.52%	1.98%	-	-	8.37%	1.50%	1.51%	3.96%	1.23%
Cost of Revenue to Revenue	73.33%	64.12%	59.20%	61.65%	69.16%	65.30%	60.14%	68.18%	68.02%	68.36%	71.08%
SG&A Expenses to Revenue	24.68%	13.82%	3.76%	16.67%	24.74%	25.02%	6.62%	13.46%	12.86%	14.82%	11.71%
R&D to Revenue	3.57%	0.00%	0.00%	0.00%	2.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.64%	18.71%	12.57%	20.92%	34.72%	43.41%	9.05%	22.73%	21.86%	5.69%	19.49%
Earnings before Interest and Taxes (EBIT)	3.61	24	67	22	-4.67	80	86	22	23	59	28
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	11	27	75	29	3.34	82	100	40	41	77	46
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.90	1.11	2.42	0.90	0.75	0.56	0.98	1.27	1.08	1.23	1.43
Price to Tangible Book Value (P/TBV)	0.93	1.19	3.02	0.96	0.80	0.60	1.19	1.56	1.39	1.55	1.79
Price to Revenue (P/Rev)	2.18	2.31	1.43	1.30	1.35	1.04	1.42	1.61	1.24	1.33	1.54
Price to Earnings (P/E)	42.57	48.23	10.76	8.75	0.00	12.33	6.69	8.97	7.46	12.61	18.10
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.35%	2.07%	9.29%	11.43%	0.00%	8.11%	14.94%	11.15%	13.41%	7.93%	5.53%
Enterprise Value to Invested Capital (EV/IC)	0.88	1.15	2.33	0.87	0.68	0.51	0.98	1.29	1.14	1.26	1.51
Enterprise Value to Revenue (EV/Rev)	1.48	1.86	1.47	0.95	0.95	0.84	1.36	1.55	1.21	1.19	1.36
Enterprise Value to EBITDA (EV/EBITDA)	12.04	14.89	6.43	4.12	57.50	0.00	5.17	6.46	5.13	5.92	6.50
Enterprise Value to EBIT (EV/EBIT)	32.32	27.35	8.45	4.84	0.00	0.00	6.70	8.91	7.29	9.26	10.14
Enterprise Value to NOPAT (EV/NOPAT)	43.36	46.94	10.74	6.05	0.00	0.00	18.70	25.41	18.83	10.86	15.47
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	20.96	10.79	3.99	12.54	39.55	9.65	10.73	7.07	6.50	6.96
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	2.92	9.57	0.00	0.00	0.00	0.00	0.00	115.46	10.94
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.15	0.00	0.00	0.03	0.04	0.03	0.04	0.03	0.02
Long-Term Debt to Equity	0.00	0.00	0.12	0.00	0.00	0.01	0.03	0.02	0.03	0.02	0.02
Financial Leverage	-0.35	-0.31	-0.24	-0.27	-0.26	-0.17	-0.02	-0.14	-0.14	-0.12	-0.11
Leverage Ratio	1.12	1.14	1.20	1.15	1.15	1.21	1.30	1.21	1.21	1.23	1.22
Compound Leverage Factor	1.73	1.10	1.08	1.14	0.64	1.21	1.24	1.17	1.18	1.21	1.19
Debt to Total Capital	0.00%	0.00%	13.28%	0.00%	0.00%	2.49%	3.56%	2.51%	3.93%	2.48%	2.37%
Short-Term Debt to Total Capital	0.00%	0.00%	2.59%	0.00%	0.00%	1.15%	1.05%	0.55%	0.57%	0.59%	0.62%
Long-Term Debt to Total Capital	0.00%	0.00%	10.69%	0.00%	0.00%	1.33%	2.51%	1.96%	3.36%	1.89%	1.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	86.72%	100.00%	100.00%	97.52%	96.44%	97.49%	96.07%	97.52%	97.63%
Debt to EBITDA	0.00	0.00	0.40	0.00	0.00	-0.79	0.20	0.14	0.20	0.14	0.13
Net Debt to EBITDA	0.00	0.00	0.18	0.00	0.00	3.31	-0.22	-0.23	-0.14	-0.71	-0.87
Long-Term Debt to EBITDA	0.00	0.00	0.32	0.00	0.00	-0.42	0.14	0.11	0.17	0.10	0.09
Debt to NOPAT	0.00	0.00	0.66	0.00	0.00	-0.36	0.73	0.53	0.73	0.25	0.30
Net Debt to NOPAT	0.00	0.00	0.30	0.00	0.00	1.53	-0.79	-0.91	-0.50	-1.31	-2.07
Long-Term Debt to NOPAT	0.00	0.00	0.53	0.00	0.00	-0.19	0.52	0.42	0.62	0.19	0.22
Altman Z-Score	7.33	6.74	5.85	5.43	4.91	2.74	3.87	4.89	4.34	5.32	6.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	8.57	6.64	3.67	5.35	5.60	3.87	3.94	4.34	4.60	4.78	4.91
Quick Ratio	6.01	4.47	1.60	3.59	3.74	1.86	1.92	2.09	1.99	2.58	2.98
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-84	-125	263	-17	-52	-150	-480	-265	-247	-53	49
Operating Cash Flow to CapEx	119.93%	692.19%	2,607.93%	565.75%	-154.45%	0.00%	564.98%	513.63%	0.00%	0.00%	700.34%
Free Cash Flow to Firm to Interest Expense	0.00	-82.15	30.17	-23.98	0.00	-205.80	-80.75	-378.73	-448.55	-78.06	74.82
Operating Cash Flow to Interest Expense	0.00	63.40	2.45	17.53	0.00	96.71	6.11	44.41	107.46	71.45	79.87
Operating Cash Flow Less CapEx to Interest Expense	0.00	54.24	2.36	14.43	0.00	105.62	5.03	35.77	108.16	186.75	68.47
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.37	0.42	0.77	0.59	0.48	0.46	0.79	0.70	0.78	0.80	0.79
Accounts Receivable Turnover	1.49	1.64	3.14	2.12	1.69	1.90	3.69	3.02	3.41	4.29	4.10
Inventory Turnover	1.73	1.77	2.51	2.06	1.84	1.45	2.08	2.15	2.41	2.26	2.60
Fixed Asset Turnover	2.00	2.12	4.75	2.97	2.39	2.47	5.43	3.83	4.79	5.60	5.60
Accounts Payable Turnover	5.23	5.92	9.60	6.78	5.88	5.20	8.81	7.37	9.22	8.60	10.72
Days Sales Outstanding (DSO)	245.29	222.67	116.18	172.21	216.20	192.15	98.84	121.03	106.94	85.10	89.04
Days Inventory Outstanding (DIO)	210.78	205.91	145.55	176.84	198.82	251.49	175.76	170.14	151.69	161.72	140.49
Days Payable Outstanding (DPO)	69.74	61.65	38.04	53.81	62.06	70.13	41.45	49.54	39.60	42.43	34.04
Cash Conversion Cycle (CCC)	386.33	366.93	223.69	295.24	352.97	373.51	233.15	241.62	219.03	204.40	195.49
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	613	670	352	650	662	806	915	930	925	901	880
Invested Capital Turnover	0.64	0.69	1.22	0.94	0.74	0.66	1.04	0.98	1.09	1.12	1.09
Increase / (Decrease) in Invested Capital	86	140	-204	34	48	136	564	280	263	95	-36
Enterprise Value (EV)	540	773	818	564	451	409	902	1,201	1,049	1,138	1,330
Market Capitalization	795	963	795	770	640	506	939	1,244	1,077	1,275	1,507
Book Value per Share	$25.73	$25.47	$9.62	$27.68	$24.77	$26.25	$14.25	$14.13	$14.43	$15.11	$15.35
Tangible Book Value per Share	$25.09	$23.75	$7.70	$25.85	$23.17	$24.52	$11.74	$11.52	$11.26	$11.97	$12.21
Total Capital	879	870	379	857	853	927	994	1,004	1,036	1,065	1,083
Total Debt	0.00	0.00	50	0.00	0.00	23	35	25	41	26	26
Total Long-Term Debt	0.00	0.00	41	0.00	0.00	12	25	20	35	20	19
Net Debt	-255	-190	23	-206	-189	-97	-38	-43	-28	-137	-178
Capital Expenditures (CapEx)	9.41	14	0.82	2.23	6.02	-6.49	6.43	6.05	-0.38	-78	7.46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	412	412	212	375	392	413	416	424	462	405	383
Debt-free Net Working Capital (DFNWC)	667	602	219	582	581	513	489	492	530	568	587
Net Working Capital (NWC)	667	602	210	582	581	503	479	487	524	562	580
Net Nonoperating Expense (NNE)	-1.23	0.49	6.12	0.59	-1.45	-96	3.62	0.34	0.32	2.93	-0.61
Net Nonoperating Obligations (NNO)	-266	-201	23	-208	-191	-98	-43	-49	-71	-138	-178
Total Depreciation and Amortization (D&A)	7.05	2.64	8.03	6.78	8.01	2.73	15	18	18	19	19
Debt-free, Cash-free Net Working Capital to Revenue	112.72%	99.06%	38.17%	63.32%	82.64%	84.88%	62.94%	54.87%	53.22%	42.35%	39.17%
Debt-free Net Working Capital to Revenue	182.61%	144.71%	39.51%	98.13%	122.54%	105.39%	74.03%	63.68%	61.15%	59.45%	59.96%
Net Working Capital to Revenue	182.61%	144.71%	37.74%	98.13%	122.54%	103.20%	72.45%	62.96%	60.47%	58.79%	59.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.10	($0.21)	$1.72	$0.00	($0.05)	$2.03	$1.42	$0.21	$0.22	$0.57	$0.21
Adjusted Weighted Average Basic Shares Outstanding	34.13M	34.13M	30.93M	0.00	34.44M	40.73M	49.73M	69.29M	68.94M	68.81M	69.01M
Adjusted Diluted Earnings per Share	$0.10	($0.21)	$1.64	$0.00	($0.05)	$1.99	$1.41	$0.21	$0.22	$0.57	$0.20
Adjusted Weighted Average Diluted Shares Outstanding	34.49M	34.13M	32.34M	0.00	34.44M	41.53M	50.63M	69.48M	69.15M	69.27M	69.38M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	34.18M	34.18M	34.41M	0.00	34.45M	67.25M	69.26M	68.98M	68.78M	68.93M	69.14M
Normalized Net Operating Profit after Tax (NOPAT)	1.41	16	59	17	-3.23	-9.37	83	20	19	17	16
Normalized NOPAT Margin	1.57%	11.52%	24.95%	13.67%	-2.68%	-6.17%	29.75%	8.39%	8.59%	7.05%	5.99%
Pre Tax Income Margin	6.23%	16.71%	25.26%	16.83%	-2.17%	52.69%	29.47%	8.89%	9.92%	24.15%	9.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	15.85	7.63	30.31	0.00	109.34	14.41	31.52	41.36	86.62	42.23
NOPAT to Interest Expense	0.00	10.46	6.76	23.65	0.00	-18.72	13.97	21.56	28.42	62.26	20.43
EBIT Less CapEx to Interest Expense	0.00	6.69	7.54	27.21	0.00	118.25	13.33	22.87	42.05	201.91	30.83
NOPAT Less CapEx to Interest Expense	0.00	1.30	6.66	20.55	0.00	-9.81	12.89	12.91	29.12	177.56	9.03
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	53.44%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	59.70%	0.00%	0.00%	0.00%	0.00%	0.00%	53.44%	0.45%	6.42%	9.18%	11.14%

Financials Breakdown Chart

Key Financial Trends

Here are key trends from Innovex International's recent four-year window, focused on the latest four quarters (Q1–Q4 2025) and relevant prior periods for context.

Revenue momentum in 2025 is notable, with Q4 2025 revenue at $273.6M and Q3 2025 at $240.0M, up meaningfully from 2024 levels (Q4 2024 revenue $201.9M; Q3 2024 revenue $151.8M). This suggests top-line growth restarting in 2025.
Net income availability improved across the latest quarters, with net income attributable to common shareholders of $13.97M in Q4 2025 and $39.23M in Q3 2025, supported by positive quarterly profitability in Q1–Q2 2025 as well.
Operating cash flow remains robust, with net cash from continuing operating activities around $52.2M in Q4 2025 and $59.2M in Q2 2025, signaling healthy cash-generation capability despite some margin pressure.
Liquidity and balance-sheet strength appear solid: cash and equivalents were about $163.4M by Q3 2025, total assets near $1.25B, and total equity around $1.04B, indicating a substantial equity cushion relative to liabilities.
Capital spending remains modest and consistent, with quarterly purchases of PPE typically in the $5–12M range and investing cash flows generally negative but manageable, implying continued investment without outsized capex stress.
Financing activity has been variable: a notable debt issuance in Q2 2025 helped liquidity, followed by debt repayments and smaller financing moves in subsequent quarters, resulting in mixed net cash from financing activities across the four quarters.
Gross margin compression in 2025, particularly in Q4, where gross margin falls to roughly 29% (gross profit about $79.1M on $273.6M revenue) versus about 45–46% in late 2024, suggesting rising cost of goods or pricing pressure.
Operating margin volatility: Q4 2025 operating income of about $25.8M vs higher levels earlier in 2025 (e.g., Q3 2025 operating income around $62.3M) indicates costs are tightening profitability and margin sensitivity.
Net income margin fluctuations across quarters: a strong quarter in Q3 2025 followed by a softer Q4 2025; this uneven quarterly profitability could translate to higher earnings volatility for investors.
Financing cash flow softness in some quarters: net cash from financing activities was negative in several periods (e.g., Q3 2025 and Q4 2025) even as other quarters showed modest positives, highlighting ongoing liquidity-management activity rather than a clear cash-flow upgrade trend.

05/05/26 08:33 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Innovex International's Financials

When does Innovex International's financial year end?

According to the most recent income statement we have on file, Innovex International's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Innovex International's net income changed over the last 10 years?

Innovex International's net income appears to be on an upward trend, with a most recent value of $83.30 million in 2025, falling from $192.01 million in 2015. The previous period was $140.33 million in 2024. Check out Innovex International's forecast to explore projected trends and price targets.

What is Innovex International's operating income?

Innovex International's total operating income in 2025 was $132.63 million, based on the following breakdown:

Total Gross Profit: $303.28 million
Total Operating Expenses: $170.66 million

How has Innovex International's revenue changed over the last 10 years?

Over the last 10 years, Innovex International's total revenue changed from $844.31 million in 2015 to $978.25 million in 2025, a change of 15.9%.

How much debt does Innovex International have?

Innovex International's total liabilities were at $210.61 million at the end of 2025, a 12.0% decrease from 2024, and a 102.9% increase since 2015.

How much cash does Innovex International have?

In the past 10 years, Innovex International's cash and equivalents has ranged from $7.41 million in 2023 to $493.18 million in 2017, and is currently $203.41 million as of their latest financial filing in 2025.

How has Innovex International's book value per share changed over the last 10 years?

Over the last 10 years, Innovex International's book value per share changed from 34.53 in 2015 to 15.35 in 2025, a change of -55.6%.

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Financial statements for NYSE:INVX last updated on 2/26/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Innovex International (INVX) Financials

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