INNV Stock Analysis: InnovAge Holding | NASDAQ
Medical Care Facilities | NASDAQ, USA | Market Cap: 1.504m USD | 12M Return: 206.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.16M
Qual. Beats: 3
Rev. Trend: 99.9%
Qual. Beats: 3
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
InnovAge Holding Corp. (NASDAQ: INNV) is a Denver-based provider of medical and ancillary services for seniors, operating under the Program of All-Inclusive Care for the Elderly (PACE) model. PACE is a federally recognized Medicare and Medicaid program designed for frail, nursing-home-eligible seniors, integrating clinical care, social support, and long-term services to keep participants living in the community rather than in institutional settings.
The companys service offering spans in-home skilled and personal care, in-center primary and specialty care (including physical, occupational, and speech therapy, dental, and mental health services), transportation, and care management. InnovAge operates PACE centers across six states: Colorado, California, New Mexico, Pennsylvania, Florida, and Virginia. The company was founded in 1989, rebranded from TCO Group Holdings in January 2021, and completed its IPO on March 4, 2021, listed on NASDAQ under the ticker INNV.
- PACE center expansion and enrollment growth across new states
- Medicare and Medicaid capitation rate changes pressure margins
- Past CMS audits and regulatory scrutiny weigh on operations
| Net Income: -22.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 4.12 > 1.0 |
| NWC/Revenue: 0.71% < 20% (prev -5.91%; Δ 6.62% < -1%) |
| CFO/TA 0.09 > 3% & CFO 50.3m > Net Income -22.2m |
| Net Debt (-8.87m) to EBITDA (4.36m): -2.04 < 3 |
| Current Ratio: 1.03 > 1.5 & < 3 |
| Outstanding Shares: last quarter (135.7m) vs 12m ago 0.37% < -2% |
| Gross Margin: 20.75% > 18% (prev 17.91%; Δ 2.84% > 0.5%) |
| Asset Turnover: 174.5% > 50% (prev 155.0%; Δ 19.54% > 0%) |
| Interest Coverage Ratio: -3.47 > 6 (EBIT TTM -15.8m / Interest Expense TTM 4.55m) |
| A: 0.01 (Total Current Assets 202.6m - Total Current Liabilities 195.9m) / Total Assets 547.4m |
| B: -0.20 (Retained Earnings -111.9m / Total Assets 547.4m) |
| C: -0.03 (EBIT TTM -15.8m / Avg Total Assets 542.0m) |
| D: 0.79 (Book Value of Equity 229.0m / Total Liabilities 288.5m) |
| Altman-Z'' = 0.05 = B |
| DSRI: 0.59 (Receivables 32.0m/47.7m, Revenue 945.9m/831.7m) |
| GMI: 0.86 (GM 17.91% / 20.75%) |
| AQI: 0.97 (AQ_t 0.28 / AQ_t-1 0.29) |
| SGI: 1.14 (Revenue 945.9m / 831.7m) |
| TATA: -0.13 (NI -22.2m - CFO 50.3m) / TA 547.4m) |
| Beneish M = -3.42 (Cap -4..+1) = AA |
As of July 28, 2026, the stock is trading at USD 11.48 with a total of 232,873 shares traded. Over the past week, the price has changed by +3.61%, over one month by -1.12%, over three months by +41.90% and over the past year by +206.13%.
Current recommended Stop Loss: 10.30 (which is 10.3% or 1.9 ATR below the current price).
InnovAge Holding has received a consensus analysts rating of 2.75. Therefore, it is recommended to hold INNV.
- StrongBuy: 0
- Buy: 0
- Hold: 3
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 7 | -39% |
P/E Forward = 13.6612
P/S = 1.5845
P/B = 6.8096
Revenue TTM = 945.9m USD
EBIT TTM = -15.8m USD
EBITDA TTM = 4.36m USD
Long Term Debt = 55.4m USD (from longTermDebt, last quarter)
Short Term Debt = 12.3m USD (from shortTermDebt, last quarter)
Debt = 129.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 35.9m
Net Debt = -8.87m USD (calculated: Debt 129.7m - CCE 138.6m)
Enterprise Value = 1.50b USD (1.50b + Debt 129.7m - CCE 138.6m)
Interest Coverage Ratio = -3.47 (Ebit TTM -15.8m / Interest Expense TTM 4.55m)
EV/FCF = 38.46x (Enterprise Value 1.50b / FCF TTM 38.9m)
FCF Yield = 2.60% (FCF TTM 38.9m / Enterprise Value 1.50b)
FCF Margin = 4.11% (FCF TTM 38.9m / Revenue TTM 945.9m)
Net Margin = -2.35% (Net Income TTM -22.2m / Revenue TTM 945.9m)
Gross Margin = 20.75% ((Revenue TTM 945.9m - Cost of Revenue TTM 749.7m) / Revenue TTM)
Gross Margin QoQ = 22.31% (prev 20.00%)
Tobins Q-Ratio = 2.73 (Enterprise Value 1.50b / Total Assets 547.4m)
Interest Expense / Debt = 3.51% (Interest Expense 4.55m / Debt 129.7m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -12.5m (EBIT -15.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.03 (Total Current Assets 202.6m / Total Current Liabilities 195.9m)
Debt / Equity = 0.57 (Debt 129.7m / totalStockholderEquity, last quarter 229.0m)
Debt / EBITDA = -2.04 (Net Debt -8.87m / EBITDA 4.36m)
Debt / FCF = -0.23 (Net Debt -8.87m / FCF TTM 38.9m)
Total Stockholder Equity = 241.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -4.10% (Net Income -22.2m / Total Assets 547.4m)
RoE = -9.20% (Net Income TTM -22.2m / Total Stockholder Equity 241.4m)
RoCE = -5.33% (EBIT -15.8m / Capital Employed (Equity 241.4m + L.T.Debt 55.4m))
RoIC = -3.95% (negative operating profit) (NOPAT -12.5m / Invested Capital 316.5m)
WACC = 9.17% (E(1.50b)/V(1.63b) * Re(9.72%) + D(129.7m)/V(1.63b) * Rd(3.51%) * (1-Tc(0.21)))
Discount Rate = 9.72% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -21.32 | Cagr: -0.06%
[DCF] Terminal Value 75.37% ; FCFF base≈29.7m ; Y1≈34.1m ; Y5≈50.1m
[DCF] Fair Price = 4.92 (EV 659.5m - Net Debt -8.87m = Equity 668.4m / Shares 135.7m; r=9.17% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 4.0 | # QB: 3
Revenue Correlation: 99.85 | Revenue CAGR: 12.26% | SUE: 3.33 | # QB: 3
EPS current Quarter (2026-09-30): EPS=0.09 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2026-06-30): EPS=0.36 | Chg30d=+0.00% | Revisions=+25% | GrowthEPS=+461.6% | GrowthRev=+13.2%
EPS next Year (2027-06-30): EPS=0.41 | Chg30d=+7.89% | Revisions=+25% | GrowthEPS=+13.9% | GrowthRev=+7.5%