(INVA) Innoviva - Overview
Stock: COPD/Asthma Inhalers, Antibiotics, Vasopressor, Beta-Lactamase Inhibitor
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 24.1% |
| Relative Tail Risk | -6.54% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.64 |
| Alpha | 14.72 |
| Character TTM | |
|---|---|
| Beta | 0.066 |
| Beta Downside | 0.074 |
| Drawdowns 3y | |
|---|---|
| Max DD | 23.53% |
| CAGR/Max DD | 0.91 |
Description: INVA Innoviva January 18, 2026
Innoviva Inc. (NASDAQ: INVA) develops and commercializes a diversified portfolio of prescription medicines, chiefly in respiratory and infectious-disease markets. Its flagship respiratory products-RELVAR/BREO ELLIPTA (LABA + ICS) and ANORO ELLIPTA (LAMA + LABA)-target chronic obstructive pulmonary disease (COPD) and asthma, while its antibacterial pipeline includes XERAVA, XACDURO, ZEVTERA and the late-stage oral gonorrhea cure Zoliflodacin. The company also markets GIAPREZA for septic shock and maintains strategic collaborations with Glaxo Group (LABA) and Sarissa Capital.
In FY 2023 Innoviva reported net product revenue of approximately **$1.2 billion**, driven largely by RELVAR/BREO ELLIPTA, which accounted for about 70 % of sales. The balance sheet showed **$550 million of cash and marketable securities**, enough to fund R&D and commercial expansion through 2025, while operating cash flow turned positive for the first time in three years, reflecting improved royalty streams from its Glaxo partnership.
Key sector dynamics that shape Innoviva’s outlook include: (1) the **global COPD market**, projected to grow at a **CAGR of ~4 %** through 2028 as aging populations increase demand for once-daily inhalers; (2) **antibiotic resistance pressures**, which are expanding the market for novel agents like XERAVA and Zoliflodacin, supported by government incentives such as the GAIN Act; and (3) **pricing and reimbursement trends**, where Medicare Part D formulary placement remains a critical driver for respiratory product volumes.
For a deeper quantitative dive, see the ValueRay profile.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 127.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.14 > 0.02 and ΔFCF/TA 0.58 > 1.0 |
| NWC/Revenue: 163.7% < 20% (prev 49.65%; Δ 114.1% < -1%) |
| CFO/TA 0.14 > 3% & CFO 201.7m > Net Income 127.3m |
| Net Debt (-153.3m) to EBITDA (200.8m): -0.76 < 3 |
| Current Ratio: 14.12 > 1.5 & < 3 |
| Outstanding Shares: last quarter (85.0m) vs 12m ago 34.97% < -2% |
| Gross Margin: 86.52% > 18% (prev 0.85%; Δ 8567 % > 0.5%) |
| Asset Turnover: 29.20% > 50% (prev 28.92%; Δ 0.28% > 0%) |
| Interest Coverage Ratio: 9.63 > 6 (EBITDA TTM 200.8m / Interest Expense TTM 18.1m) |
Altman Z'' 4.31
| A: 0.45 (Total Current Assets 684.6m - Total Current Liabilities 48.5m) / Total Assets 1.43b |
| B: 0.07 (Retained Earnings 105.2m / Total Assets 1.43b) |
| C: 0.13 (EBIT TTM 174.7m / Avg Total Assets 1.33b) |
| D: 0.25 (Book Value of Equity 106.0m / Total Liabilities 419.2m) |
| Altman-Z'' Score: 4.31 = AA |
Beneish M -3.21
| DSRI: 0.94 (Receivables 93.5m/91.1m, Revenue 388.5m/356.2m) |
| GMI: 0.99 (GM 86.52% / 85.27%) |
| AQI: 0.77 (AQ_t 0.52 / AQ_t-1 0.67) |
| SGI: 1.09 (Revenue 388.5m / 356.2m) |
| TATA: -0.05 (NI 127.3m - CFO 201.7m) / TA 1.43b) |
| Beneish M-Score: -3.21 (Cap -4..+1) = AA |
What is the price of INVA shares?
Over the past week, the price has changed by +9.00%, over one month by +12.89%, over three months by +5.93% and over the past year by +19.39%.
Is INVA a buy, sell or hold?
- StrongBuy: 0
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the INVA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 36.4 | 67% |
| Analysts Target Price | 36.4 | 67% |
| ValueRay Target Price | 24.5 | 12.4% |
INVA Fundamental Data Overview February 03, 2026
P/E Forward = 9.6339
P/S = 3.8489
P/B = 1.4806
P/EG = 0.2754
Revenue TTM = 388.5m USD
EBIT TTM = 174.7m USD
EBITDA TTM = 200.8m USD
Long Term Debt = 257.4m USD (from longTermDebt, last quarter)
Short Term Debt = 8.42m USD (from shortTermDebt, last quarter)
Debt = 323.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -153.3m USD (from netDebt column, last quarter)
Enterprise Value = 1.45b USD (1.66b + Debt 323.2m - CCE 533.1m)
Interest Coverage Ratio = 9.63 (Ebit TTM 174.7m / Interest Expense TTM 18.1m)
EV/FCF = 7.38x (Enterprise Value 1.45b / FCF TTM 196.5m)
FCF Yield = 13.55% (FCF TTM 196.5m / Enterprise Value 1.45b)
FCF Margin = 50.59% (FCF TTM 196.5m / Revenue TTM 388.5m)
Net Margin = 32.78% (Net Income TTM 127.3m / Revenue TTM 388.5m)
Gross Margin = 86.52% ((Revenue TTM 388.5m - Cost of Revenue TTM 52.4m) / Revenue TTM)
Gross Margin QoQ = 76.09% (prev 89.44%)
Tobins Q-Ratio = 1.01 (Enterprise Value 1.45b / Total Assets 1.43b)
Interest Expense / Debt = 1.24% (Interest Expense 4.01m / Debt 323.2m)
Taxrate = 8.09% (7.91m / 97.8m)
NOPAT = 160.5m (EBIT 174.7m * (1 - 8.09%))
Current Ratio = 14.12 (Total Current Assets 684.6m / Total Current Liabilities 48.5m)
Debt / Equity = 0.32 (Debt 323.2m / totalStockholderEquity, last quarter 1.01b)
Debt / EBITDA = -0.76 (Net Debt -153.3m / EBITDA 200.8m)
Debt / FCF = -0.78 (Net Debt -153.3m / FCF TTM 196.5m)
Total Stockholder Equity = 765.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 9.57% (Net Income 127.3m / Total Assets 1.43b)
RoE = 16.63% (Net Income TTM 127.3m / Total Stockholder Equity 765.7m)
RoCE = 17.07% (EBIT 174.7m / Capital Employed (Equity 765.7m + L.T.Debt 257.4m))
RoIC = 13.76% (NOPAT 160.5m / Invested Capital 1.17b)
WACC = 5.34% (E(1.66b)/V(1.98b) * Re(6.16%) + D(323.2m)/V(1.98b) * Rd(1.24%) * (1-Tc(0.08)))
Discount Rate = 6.16% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.02%
[DCF Debug] Terminal Value 88.05% ; FCFF base≈182.8m ; Y1≈216.1m ; Y5≈333.4m
Fair Price DCF = 132.5 (EV 9.75b - Net Debt -153.3m = Equity 9.91b / Shares 74.8m; r=5.90% [WACC]; 5y FCF grow 19.39% → 2.90% )
EPS Correlation: -17.40 | EPS CAGR: -7.54% | SUE: -1.05 | # QB: 0
Revenue Correlation: 24.18 | Revenue CAGR: 0.03% | SUE: 0.55 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.46 | Chg30d=-0.005 | Revisions Net=+0 | Analysts=2
EPS next Year (2026-12-31): EPS=2.04 | Chg30d=-0.020 | Revisions Net=+0 | Growth EPS=+28.0% | Growth Revenue=+6.6%