profit from every $100 of sales.
$0$100
InnovAge
$9.50+1.39% today
+75.3% in 1 year
1-year low $4.791-year high $12.11
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
It has no yearly profit to compare the price with.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What InnovAge sold, what it kept, and what it did with the cash.
Sales went from $699 million in 2022 to $854 million in 2025, with -$30.3 million of profit last year.
SalesProfit
InnovAge handed back 28% of the cash it generated last year.
Buybacks $7M
Free cash flow 2025$27M
Bought back its own shares$7M
Paid as dividends–
Cash vs. debt$64M vs. $101M
InnovAge vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| InnovAge | No profit yet | ||
 Tenet Healthcare | 16.6× · Fair price | ||
 Solventum | 9.7× · Cheap | ||
 Encompass Health | 24.7× · Fair price | ||
 DaVita | 15.5× · Fair price |
AI analysis
An AI analyst reads InnovAge's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 699 | 688 | 764 | 854 | |
| 135 | 101 | 132 | 154 | |
| -4 | -49 | -23 | -16 | |
| 9 | -34 | 1 | -10 | |
| -7 | -41 | -21 | -30 | |
| -0.05 | -0.30 | -0.16 | – | |
| 19.4% | 14.7% | 17.3% | 18.0% | |
| -0.6% | -7.2% | -3.0% | -1.9% | |
| -0.9% | -5.9% | -2.8% | -3.6% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 556 | 567 | 548 | 527 |
| Cash | 184 | 127 | 57 | 64 |
| Total debt | 85 | 109 | 113 | 101 |
| Total liabilities | 202 | 253 | 248 | 264 |
| 332 | 296 | 269 | 235 | |
| 136 | 136 | 136 | – | |
| -0.9% | -9.6% | -3.7% | -6.9% | |
| -2.0% | -13.7% | -7.9% | -12.9% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 27 | 20 | -37 | 33 | |
| 38 | 23 | 8 | 6 | |
| -11 | -3 | -45 | 27 | |
| Dividends paid | 0 | – | – | – |
| 0 | 0 | 0 | 7 | |
| 4 | 5 | 7 | 8 |
Valuation
- –
- 37.7×
- –
- 4.3×
- 1.5×
- 48.7×
- –
- 2.1%
- -2.3%
- 0.0%
Profitability
- 18.0%
- -1.9%
- -3.6%
- 6.2%
- 10.2%
- -7.5%
- -9.2%
- -4.1%
- 10.5%
- –
Growth
- +6.9%
- –
- +159.4%
- –
- −0.0%
Financial health
- –
- 0.41
- 17.1%
- 8.1×
- 1.03
- 1.03
- 1.73
How it ranks in Healthcare
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 29%of 958
Bottom 19%of 888
Bottom 37%of 889
Top 43%of 987
What analysts expect
- Average price target
- $6.80
- Range
- $5.00 – $8.00
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 5, 2026 | -0.22 | 0.06 | −466.7% |
| Feb 3, 2026 | 0.08 | 0.04 | +100.0% |
| Nov 4, 2025 | 0.06 | 0.01 | +500.0% |
| Sep 9, 2025 | -0.01 | -0.02 | +50.0% |
| May 6, 2025 | -0.08 | -0.02 | −300.0% |
| Feb 4, 2025 | -0.10 | -0.01 | −900.0% |
| Nov 5, 2024 | -0.04 | -0.04 | −5.3% |
| Sep 10, 2024 | -0.01 | -0.01 | −62.1% |
News
InnovAge prices 10M share secondary offering at $9.25Seeking Alpha · Sep 23, 2026InnovAge forecasts $1.05B-$1.085B revenue and $105M-$115M adjusted EBITDA for fiscal 2027 as it targets 5%-7.5% census growthSeeking Alpha · Sep 9, 2026The newest story we have is from Sep 23, 2026.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
18No pass
Benjamin Graham
22No pass
Philip Fisher
22No pass
Peter Lynch
38No pass
Joel Greenblatt
8No pass
Charlie Munger
17No pass
Terry Smith
10No pass
Questions about InnovAge
Is InnovAge a good stock to buy?
A business with weak numbers that is not profitable yet. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the InnovAge AI analysis
What does InnovAge do?
InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. It is in Medical - Care Facilities.
Does InnovAge pay a dividend?
No. InnovAge does not pay a dividend at the moment; in 2025 it returned $7.32 million to shareholders by buying back its own shares.
Is InnovAge stock halal?
Yes. InnovAge passes our halal screen: its business is permitted and its debt is 8% of its market value, under the 30% limit. How we check
How has InnovAge stock done over the past year?
Up 75.3% over the past twelve months, to $9.50. It traded between $4.79 and $12.11 and is 21.6% below its high.
Who are InnovAge's competitors?
The largest listed companies in the same industry are Tenet Healthcare, Solventum, Encompass Health and DaVita. The peers table on this page compares their profit, growth and price with InnovAge's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.