9 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 31.3% per year over the past 5 years.
Net income has grown faster than revenue (36.7% vs 31.3% per year).
Operating margin has expanded, at 23.8% in the latest year.
Free cash flow has grown 9.8% per year over the past 5 years.
Financial health
Total debt ($24M) exceeds cash ($3M); net debt is $22M.
Total debt has grown slower than revenue (11.8% vs 31.3% per year).
Operating income covered interest expense 12× in the latest year.
Total debt is 1.0× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$84M
$16M
48.1%
23.8%
24.2%
15.1%
$7M
$24M
$3M
2024
$47M
$7M
54.9%
20.5%
15.0%
8.5%
$5M
$28M
$538977
2023
$35M
$6M
61.2%
21.1%
15.6%
9.6%
$2M
$20M
$3M
2022
$28M
$6M
60.1%
26.0%
18.0%
15.9%
$6M
—
$17M
2021
$23M
$5M
55.5%
16.9%
20.6%
18.7%
$4M
—
$8M
2020
$22M
$3M
54.7%
12.7%
11.8%
7.9%
$4M
—
$13M
2019
$18M
—
56.3%
8.7%
0.0%
0.0%
$2M
—
$22M
2018
$14M
—
47.2%
-26.8%
0.0%
0.0%
-$4M
—
$20M
2017
$17M
—
48.4%
-0.5%
0.0%
0.0%
$6M
—
$25M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$27M
$4M
51.7%
22.6%
5.8%
3.0%
$5M
$55M
$11M
Mar '26
$22M
$3M
51.1%
22.1%
4.8%
2.5%
$666837
$55M
$7M
Dec '25
$22M
$4M
54.5%
28.9%
5.9%
3.7%
$7M
$24M
$8M
Sep '25
$22M
$7M
63.2%
37.0%
11.0%
6.9%
$2M
$24M
$3M
Jun '25
$24M
$2M
35.5%
14.6%
4.3%
2.7%
$4M
$23M
$601759
Mar '25
$22M
$5M
51.4%
31.8%
10.0%
5.9%
-$267745
$27M
$1M
Dec '24
$16M
$736192
41.4%
8.4%
1.5%
0.9%
$2M
$27M
$604561
Sep '24
$15M
$3M
55.4%
28.4%
6.8%
3.9%
$299468
$28M
$538977
Jun '24
$12M
$2M
53.4%
17.3%
3.6%
2.6%
$730773
—
$521041
Mar '24
$11M
$1M
52.0%
15.3%
2.9%
2.1%
$75374
—
$574079
Dec '23
$9M
$1M
59.3%
17.4%
2.6%
1.9%
$4M
—
$467334
Sep '23
$13M
$3M
62.4%
28.1%
6.8%
4.2%
$1M
$20M
$3M
Jun '23
$8M
$1M
59.5%
18.7%
4.0%
2.3%
-$1M
$20M
$3M
Mar '23
$7M
$1M
64.6%
19.4%
3.7%
3.3%
$348115
—
$20M
Dec '22
$7M
$698651
57.1%
12.1%
2.2%
1.9%
$2M
—
$19M
Sep '22
$7M
$2M
61.5%
31.6%
5.2%
4.6%
-$325931
—
$17M
Jun '22
$7M
$1M
58.5%
24.3%
4.7%
4.3%
$3M
—
$15M
Mar '22
$7M
$1M
61.1%
26.4%
5.2%
4.8%
$2M
—
$12M
Dec '21
$7M
$1M
59.3%
21.3%
4.4%
4.0%
$1M
—
$10M
Sep '21
$7M
—
57.6%
27.1%
0.0%
0.0%
$782743
—
$8M
Valuation over time
How the market has priced IA against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 23.8× (Mar '23) to 22.6× (Nov '26).
The price-to-sales ratio has fallen from 4.7× (Mar '23) to 4.2× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is IA growing its revenue and profit?
Over the past 5 years, INNOVATIVE SOLUTIONS & SUPPORT INC's revenue has grown 31.3% per year, and net income grown 36.7% per year. These are computed facts, not advice.
How much debt does IA have?
As of FY2025, INNOVATIVE SOLUTIONS & SUPPORT INC reported $24M of total debt against $3M of cash; operating income covered interest expense 12×.
What is IA's profit margin?
In FY2025, gross margin was 48.1%, operating margin 23.8%, and net margin 18.5%.
What is IA's P/E ratio?
INNOVATIVE SOLUTIONS & SUPPORT INC's P/E (TTM) is 18.52 as of the 2026-11-04 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the IA stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 22.6× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.