Innoviva, Inc. operates as a biopharmaceutical company in the United States and internationally. Its royalty portfolio includes RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol, and an inhaled corticosteroid, and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist, umeclidinium bromide, and ABA, VI. The company also markets GIAPREZA for increasing blood pressure in adults with septic or other distributive shock; XACDURO, a co-packaged for intravenous use for the treatment of hospital-acquired and ventilator-associated bacterial pneumonia caused by Acinetobacter; XERAVA for the treatment of complicated intra-abdominal infections in adults; ZEVTERA an advanced-generation cephalosporin antibiotic for the treatment of staphylococcus aureus bacteremia, as well as with right-sided endocarditis, acute bacterial skin and skin structure infections, and community-acquired bacterial pneumonia; NUZOLVENCE for the treatment of uncomplicated urogenital gonorrhea in adults and adolescents. In addition, the company develops bacteriophages with potential use in a range of infectious and other serious diseases. It has a strategic partnership with Sarissa Capital Management LP; and LABA Collaboration Agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. The company was formerly known as Theravance, Inc. and changed its name to Innoviva, Inc. in January 2016. Innoviva, Inc. was incorporated in 1996 and is headquartered in Burlingame, California.
Ticker
INVA
Exchange
Nasdaq
Sector
Healthcare
Industry
Biotechnology
Market cap
$1.37B
52-week range
$18.85 - $25.15
Valuation
Share price
$19.10 (close of Nov 6, 2026)
P/E (TTM)
7.52x
Price to book
1.20x
Price to free cash flow
7.49x
Enterprise value
$1.05B
Book value per share
$15.90
Price performance
Period
Change
1 day
-0.73%
5 days
-9.99%
1 month
-8.31%
3 months
-9.52%
6 months
-15.19%
Year to date
-4.45%
1 year
-7.19%
3 years
+39.93%
5 years
+5.41%
10 years
+98.13%
All time
+30.88%
Short interest
As of
Oct 15, 2026
Short % of float
13.66%
Shares short
7.27M
Days to cover
10.36
Change since prior report
+6.14%
Source
FINRA consolidated short interest
Profitability and growth
Return on equity
23.12%
Return on invested capital
7.49%
Return on assets
16.58%
Return on capital employed
10.33%
Gross margin
74.80%
Net margin
65.92%
EBITDA margin
39.81%
Revenue growth
14.67%
Free cash flow growth
3.92%
Cash flow and balance sheet
Free cash flow yield (TTM)
13.36%
Current ratio
15.44x
Net debt to EBITDA
-1.15x
Latest reported year
Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$411.33M
Cost of revenue
$103.66M
Gross profit
$307.67M
EBITDA
$163.75M
Net income
$271.17M
Earnings per share
$4.02
Research and development
$30.60M
Interest expense
$16.70M
Shares outstanding
67.39M
Income statement by year
Period end
Revenue
Gross profit
Net income
EPS
2025-12-31
$411.33M
$307.67M
$271.17M
$4.02
2024-12-31
$358.71M
$296.21M
$23.39M
$0.37
2023-12-31
$310.46M
$246.04M
$179.72M
$2.75
2022-12-31
$331.34M
-
$220.26M
$3.07
2021-12-31
$391.87M
-
$368.84M
$3.24
2020-12-31
$336.79M
-
$293.81M
$2.21
2019-12-31
$261.02M
-
$190.99M
$1.55
2018-12-31
$261.00M
-
$406.33M
$3.92
2017-12-31
$217.22M
-
$134.27M
$1.25
2016-12-31
$133.57M
-
$59.54M
$0.54
Margins and returns by year
Period end
Gross margin
Net margin
Return on equity
Return on capital
2025-12-31
74.80%
65.92%
23.12%
7.49%
2024-12-31
82.58%
6.52%
3.38%
13.38%
2023-12-31
79.25%
57.89%
26.63%
8.85%
2022-12-31
-
66.48%
38.93%
21.27%*
2021-12-31
-
94.12%
70.13%
32.44%
2020-12-31
-
87.24%
48.34%
26.24%
2019-12-31
-
73.17%
55.83%
28.43%
2018-12-31
-
155.68%
255.47%
43.97%
2017-12-31
-
61.81%
-
55.36%
2016-12-31
-
44.57%
-
29.99%
* Estimated EBIT: pre-tax income + net interest. This company reports no operating income line.