Innoviva, Inc.

Health Care
Biotechnology: Pharmaceutical Preparations
www.inva.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.17B
PE 50
Debt $645.53M
Cash $304.96M
EV $1.51B
FCF $188.42M

Earnings

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Sales & Net Margins

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Earnings	$23.39M
EBIT	$37.39M
ROE	3%
ROA	3%
FCF	$188.42M
Equity	$691.16M
Growth Stability	11%
PE	50.18
PEG	-2.12
PB	1.7
P/FCF	6.23
P/S	3.27
Price/Cash	0.26
Debt/Equity	0.93
Debt/FCF	3.43
Net Margins	7%
Op. Margins	10%
Earnings CAGR	5%
Sales Growth YoY	7%
Sales Growth QoQ	3%
Sales CAGR	12%
FCF CAGR	9%
Equity CAGR	13%
Earnings Stability	0.02
Earnings Growth YoY	-67%
Earnings Growth QoQ	2K%

Earnings CAGR 5Y	-24%
Sales CAGR 5Y	-0%
FCF CAGR 5Y	-19%
Equity CAGR 5Y	8%
Earnings CAGR 3Y	-5%
Sales CAGR 3Y	-5%
FCF CAGR 3Y	-25%
Equity CAGR 3Y	9%
Market Cap	$1.17B
Revenue	$358.71M
Assets	$1.30B
Total Debt	$645.53M
Cash	$304.96M
Shares Outstanding	62.67M
EV	1.51B
Earnings Score	6%
Moat Score	49%
Safety Score	58%
Final Score	38%
Working Capital	318.22M
Current Ratio	2.35
Shares Growth 3y	-5%
Equity Growth QoQ	3%
Equity Growth YoY	2%

Assets & ROA

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Stockholders Equity & ROE

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Innoviva Inc develops biopharmaceutical drugs in the antibiotic, respiratory, and digestive realms. Theravance's respiratory compounds are in late-stage trials for asthma and chronic obstructive pulmonary disease. Its product offering includes Relvar/Breo/Ellipta, Anoro, Ellipta, Trelegy, Ellipta and others. The firm collaborates with and receives funding from GlaxoSmithKline.

SEC Filings

Direct access to Innoviva, Inc. (INVA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Innoviva, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Innoviva, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 5%

Stability 2%

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Innoviva, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Innoviva, Inc..

Years

Calculation mode

= $3.5B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$188M	$205M	$223M	$243M	$264M	$287M	$313M	$340M	$370M	$402M	$438M	$4.4B
DCF		$186M	$184M	$182M	$180M	$178M	$176M	$174M	$173M	$171M	$169M	$1.7B
Value	$3.5B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-35%	45%	62%	151%	60%	67%	68%	65%	58%	7%	7%
ROA	-	29%	50%	43%	34%	35%	48%	23%	16%	3%	3%
ROE	-	-17%	-55%	248%	46%	37%	51%	38%	27%	3%	3%

Bad Net Margins (6.52%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	12.12	4.78	2	1.68	1.38	1.19	3.2	3.22	3.43	3.43
Debt over Equity	-2.18	-2.08	-2.79	2.81	1.27	0.71	0.82	1.14	0.67	0.93	0.93
Growth Stability	-	-	-	100%	80%	98%	100%	99%	77%	11%	11%

Neutral Debt/FCF ratio (3.43)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.93)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (11%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	148%	63%	20%	0%	29%	16%	-15%	-6%	16%	-0%
Earnings YoY growth	-	-417%	125%	195%	-60%	43%	18%	-20%	-16%	-87%	-24%
Equity YoY growth	-	3%	-31%	-166%	115%	78%	-13%	8%	19%	2%	8%
FCF YoY growth	-	500%	134%	58%	15%	22%	16%	-45%	-30%	34%	-19%