Innovex International, Inc. (INVX) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-29.0%

$19.25

vs $27.10 price

Levered DCF

$55.54

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

5.39

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	18.07×	4.95×	7.15×	3.55×	52.89×	-17.02×	308.54×	-5.74×
P/B	1.43×	0.73×	1.61×	0.89×	2.89×	0.5×	0.49×	0.5×
P/S	1.54×	1.05×	0.95×	0.48×	1.77×	1.43×	1.28×	1.43×
EV / EBITDA	6.98×	3.86×	4.67×	3.25×	16.43×	-6.32×	3.07×	-1.64×
Gross margin	24.8%	35.2%	35.2%	33.8%	29.6%	26.1%	28.8%	29.4%
Operating margin	11.6%	7.4%	17.5%	16.2%	4.8%	-5.1%	1.4%	-8.1%
Net margin	8.5%	21.2%	13.3%	13.5%	3.3%	-8.4%	0.4%	-24.9%
Current ratio	4.91×	3.94×	3.67×	3.32×	2.77×	10.09×	9.08×	10.37×
Debt / equity	0.11×	0.1×	0.26×	0.46×	0.22×	0.01×	0.01×	0×
Interest coverage	44.05×	20.2×	17.67×	18.8×	6.53×	-30.12×	18.11×	0×
Dividend yield	0.0%	10.8%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	53.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.9%	14.6%	22.5%	25.2%	5.5%	-3.0%	0.2%	-8.7%
Return on invested capital	6.5%	4.6%	18.4%	18.0%	4.6%	-0.9%	0.1%	-2.3%
Return on assets	6.6%	11.7%	15.6%	14.5%	3.5%	-2.7%	0.1%	-8.0%
Free cash flow yield	10.3%	11.5%	11.4%	-6.8%	-1.6%	-6.3%	0.6%	2.4%
Earnings yield	5.5%	20.2%	14.0%	28.2%	1.9%	-5.9%	0.3%	-17.4%
Enterprise value	$1.4B	$712.5M	$607.4M	$330.9M	$551.9M	$183.4M	$137.4M	$131M
Net debt / EBITDA	-0.41×	0.1×	0.6×	1.04×	0.88×	11.67×	-8.79×	5.25×
Cash conversion cycle (days)	182	323	191	211	197	493	415	413