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Innoviva, Inc. INVA

Nasdaq · stock · Pharmaceutical Preparations · website · IPO 2004-10-05 · LEI

Innoviva, Inc. statistics & valuation

Market cap$1.7B
P / S4.2×
P / B1.5×
P / FCF8.9×
FCF margin47.6%
Net cash$293.2M
Enterprise value USD$1.4B
Earnings yield EBIT/EV11.3%
Return on capital10.3%
Graham number +54%$32.05

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($32.05); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
79.20% 82.60% 74.80% 2016201720182019202020212022202320242025
Operating margin (%)
81.60% 84.50% 91.30% 94.40% 95.30% 95.70% 36.70% 46.50% 39.80% 2016201720182019202020212022202320242025
Return on equity (%)
2016201720182019202020212022202320242025
Shares outstanding
123.2M 119.9M 113.4M 113.4M 113.6M 94.3M 95.2M 86.9M 74.2M 84.8M 2016201720182019202020212022202320242025
Net debt ($)
$590.3M $501.0M $320.4M $99.0M $139.0M $193.1M $153.1M $252.7M -$48.6M -$293.2M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
2016201720182019202020212022202320242025
Free cash flow margin (%)
45.40% 65.30% 85.60% 98.60% 93.00% 92.80% 60.90% 45.30% 52.50% 47.60% 2016201720182019202020212022202320242025
Debt / equity (×)
2.41× 1.10× 0.63× 0.75× 0.79× 0.66× 0.37× 0.22× 2016201720182019202020212022202320242025
EPS ($)
$0.53 $1.17 $3.53 $1.43 $2.02 $2.87 $2.37 $2.20 $0.36 $3.30 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Innoviva, Inc. trades at about 6.3× earnings — below its 10-year norm (10-year range 4.8×–51.8×, median 7.4×).

4.8× 51.8×

Shaded band = 10-year range (4.8×–51.8×); dot = today's 6.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin74.8%82.6%79.2%———————
Operating margin39.8%46.5%36.7%—95.7%95.3%94.4%91.3%84.5%81.6%
FCF margin47.6%52.5%45.3%60.9%92.8%93.0%98.6%85.6%65.3%45.4%
Debt / equity0.22×0.37×0.66×0.79×0.75×0.63×1.10×2.41×-2.37×-2.01×
Current ratio14.642.359.033.2954.0255.9880.2934.925.779.88

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.