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INVA Financials Innoviva, Inc.

11 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 4.1% per year over the past 5 years.
  • Net income has grown slower than revenue (-1.6% vs 4.1% per year).
  • Operating margin has contracted, at 39.8% in the latest year.
  • Free cash flow has declined 9.0% per year over the past 5 years.

Financial health

  • The company holds more cash ($551M) than total debt ($258M).
  • Total debt has grown slower than revenue (-7.7% vs 4.1% per year).
  • Operating income covered interest expense 9.8× in the latest year, down from 18× 5 years ago.
  • Total debt is 1.6× EBITDA.
Revenue & net income
-$19M $196M $411M $0 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
0% 78% 156% 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Return on equity & assets (ROE / ROA)
-55% 105% 265% 0% 2015 2017 2019 2021 2023 2025
ROEROA
Free cash flow (CFO − capex)
$0 $182M $364M 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $374M $748M 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$452M -$44M $364M $0 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2025 $411M $271M 74.8% 39.8% 23.1% 16.6% $196M $258M $551M
2024 $359M $23M 82.6% 46.5% 3.4% 1.8% $188M $448M $305M
2023 $310M $180M 79.2% 36.7% — 14.5% $141M $446M $194M
2022 $331M $220M 0.0% 0.0% 38.9% 17.9% $202M $540M $291M
2021 $392M $369M 0.0% 95.7% 88.9% 39.8% $364M $395M $202M
2020 $337M $294M 0.0% 95.3% 54.4% 29.4% $313M $386M $246M
2019 $261M $191M 0.0% 94.4% 60.9% 26.4% $257M $377M $278M
2018 $261M $406M 0.0% 91.3% 264.6% 74.1% $224M $383M $62M
2017 $217M $134M 0.0% 84.5% -55.3% 36.6% $142M $574M $73M
2016 $134M $60M 0.0% 81.6% -16.9% 15.7% $61M $716M $118M
2015 — -$19M — — 5.5% -4.6% $10M $748M $159M

Valuation over time

How the market has priced INVA 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.

Price / earnings (P/E)
0.0 33.5 67.0 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/E
Price / sales (P/S)
0.0 2.3 4.5 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S

Frequently asked questions

Is INVA growing its revenue and profit?

Over the past 5 years, Innoviva, Inc.'s revenue has grown 4.1% per year, and net income declined 1.6% per year. These are computed facts, not advice.

How much debt does INVA have?

As of FY2025, Innoviva, Inc. reported $258M of total debt against $551M of cash; operating income covered interest expense 9.8×.

What is INVA's profit margin?

In FY2025, gross margin was 74.8%, operating margin 39.8%, and net margin 65.9%.

What is INVA's P/E ratio?

As of Sep '26, Innoviva, Inc. traded at a price-to-earnings ratio of about 5.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.