profit from every $100 of sales.
$0$100
Innovate
$4.57-5.97% today
-18.4% in 1 year
1-year low $3.981-year high $20.06
Trading close to its lowest price of 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 Innovate sold, what it kept, and what it did with the cash.
Sales went from $1.64 billion in 2022 to $1.25 billion in 2025, with -$60.6 million of profit last year.
SalesProfit
Innovate handed back 2% of the cash it generated last year.
$2M
Free cash flow 2025$121M
Bought back its own shares–
Paid as dividends$2M
Cash vs. debt$112M vs. $718M
Innovate 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 |
|---|---|---|---|
| Innovate | No profit yet | ||
 Quanta Services | 88.2× · Very expensive | ||
 Larsen & Toubro | 35.4× · Expensive | ||
 Ferrovial | 45.3× · Expensive | ||
 Comfort Systems USA | 38.1× · Expensive |
AI analysis
An AI analyst reads Innovate'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 |
|---|---|---|---|---|
| 1,637 | 1,423 | 1,107 | 1,246 | |
| 221 | 216 | 209 | 200 | |
| 13 | 27 | 40 | 29 | |
| 53 | 70 | 74 | 58 | |
| -36 | -35 | -35 | -61 | |
| -5.26 | -4.81 | -3.08 | -4.84 | |
| 13.5% | 15.2% | 18.9% | 16.0% | |
| 0.8% | 1.9% | 3.6% | 2.3% | |
| -2.2% | -2.5% | -3.1% | -4.9% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 1,152 | 1,044 | 891 | 950 |
| Cash | 80 | 81 | 49 | 112 |
| Total debt | 785 | 772 | 719 | 718 |
| Total liabilities | 1,199 | 1,196 | 1,051 | 1,175 |
| -121 | -166 | -180 | -240 | |
| 8 | 8 | 11 | 13 | |
| 1.3% | 4.4% | 6.0% | 4.6% | |
| 29.6% | 21.3% | 19.2% | 25.2% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| -10 | 27 | 9 | 147 | |
| 21 | 18 | 19 | 26 | |
| -30 | 8 | -10 | 121 | |
| Dividends paid | 5 | 2 | 1 | 2 |
| 0 | 7 | 0 | – | |
| 2 | 2 | 3 | 3 |
Valuation
- –
- –
- –
- -0.6×
- 0.1×
- 0.5×
- 11.5×
- 193.3%
- -97.2%
- 7.3%
Profitability
- 16.0%
- 2.3%
- -4.9%
- 5.1%
- 7.0%
- -13.6%
- 23.0%
- -5.7%
- -46.1%
- –
Growth
- −8.7%
- –
- +1,317.2%
- –
- +14.4%
Financial health
- 7.0×
- -2.47
- 65.2%
- 0.9×
- 0.40
- 0.38
- 1.43
How it ranks in Industrials
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 42%of 982
Bottom 12%of 991
Bottom 5%of 988
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 14, 2026 | -1.29 | -2.18 | +40.9% |
| Mar 26, 2026 | -0.58 | -0.99 | +41.6% |
| Nov 12, 2025 | -0.71 | – | – |
| Aug 5, 2025 | -1.67 | – | – |
| May 6, 2025 | -1.89 | – | – |
| Mar 31, 2025 | -1.29 | – | – |
| Nov 6, 2024 | -1.18 | – | – |
| Aug 7, 2024 | 1.00 | – | – |
7.3%of the share price, paid each year
On $1,000 invested$73a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
-4.3% of its profit
Room to growStretchedMore than it earns: 1.8%
News
No recent news on file.
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
4No pass
Benjamin Graham
0No pass
Philip Fisher
18No pass
Peter Lynch
0No pass
Joel Greenblatt
11No pass
Charlie Munger
13No pass
Terry Smith
12No pass
Questions about Innovate
Is Innovate 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 Innovate AI analysis
What does Innovate do?
INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. It is in Engineering & Construction.
Does Innovate pay a dividend?
Yes. At today's price the dividend is 7.3% a year. In 2025 it paid out $2.20 million in dividends.
Is Innovate stock halal?
No. Innovate does not pass our halal screen: its debt is 1,151% of its market value, at or above the 33% limit. How we check
How has Innovate stock done over the past year?
Down 18.4% over the past twelve months, to $4.57. It traded between $3.98 and $20.06 and is 77.2% below its high.
Who are Innovate's competitors?
The largest listed companies in the same industry are Quanta Services, Larsen & Toubro, Ferrovial and Comfort Systems USA. The peers table on this page compares their profit, growth and price with Innovate's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.