Innoviva, Inc. (INVA)
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.
- Symbol
- INVA
- Exchange
- Nasdaq
- Sector
- Healthcare
- Industry
- Biotechnology
- Market cap
- $1.52B
- 52 week range
- 16.52 - 25.15
Valuation
- Share price
- $20.24 (close of 2026-09-23)
- P/E (TTM)
- 4.09x
- Price to book
- 1.24x
- Price to free cash flow
- 8.04x
- Enterprise value
- $1.22B
- Book value per share
- $16.98
Price performance
| Period | Change |
|---|
| 1 day | -3.80% |
| 5 days | -2.88% |
| 1 month | -3.94% |
| 3 months | -14.06% |
| 6 months | -7.62% |
| Year to date | +1.25% |
| 1 year | +5.97% |
| 3 years | +56.90% |
| 5 years | +22.89% |
| 10 years | +76.61% |
| All time | +38.73% |
Profitability and growth
- Return on equity
- 23.12%
- Return on invested capital
- 12.13%
- 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%
- Net income growth
- 1059.22%
- Free cash flow growth
- 3.92%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 12.43%
- Current ratio
- 16.01x
- Net debt to EBITDA
- -0.65x
Latest reported year
- Period end
- 2025-12-31
- 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% | 12.13% |
| 2024-12-31 | 82.58% | 6.52% | 3.38% | 18.26% |
| 2023-12-31 | 79.25% | 57.89% | 26.63% | 10.69% |
| 2022-12-31 | - | 66.48% | 38.93% | - |
| 2021-12-31 | - | 94.12% | 70.13% | 41.53% |
| 2020-12-31 | - | 87.24% | 48.34% | 34.90% |
| 2019-12-31 | - | 73.17% | 55.83% | 46.35% |
| 2018-12-31 | - | 155.68% | 255.47% | 49.69% |
| 2017-12-31 | - | 61.81% | -55.32% | 71.07% |
| 2016-12-31 | - | 44.57% | -16.87% | 44.43% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $550.94M | $257.73M |
| 2024-12-31 | $304.96M | $256.32M |
| 2023-12-31 | $193.51M | $446.23M |
| 2022-12-31 | $291.05M | $444.18M |
| 2021-12-31 | $201.53M | $394.65M |
| 2020-12-31 | $246.49M | $385.52M |
| 2019-12-31 | $278.10M | $377.12M |
| 2018-12-31 | $62.42M | $382.86M |
| 2017-12-31 | $73.34M | $574.36M |
| 2016-12-31 | $118.02M | $708.34M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $195.80M | $9.45M |
| 2024-12-31 | $188.42M | $6.37M |
| 2023-12-31 | $140.65M | $5.84M |
| 2022-12-31 | $201.66M | $7.35M |
| 2021-12-31 | $363.81M | $2.02M |
| 2020-12-31 | $313.10M | $1.70M |
| 2019-12-31 | $257.45M | $2.06M |
| 2018-12-31 | $223.53M | $3.23M |
| 2017-12-31 | $141.75M | $9.83M |
| 2016-12-31 | $60.71M | $8.30M |
Dividend history
- Most recent payment
- 2015-09-08
| Payment date | Dividend per share |
|---|
| 2015-09-08 | $0.25 |
| 2015-06-10 | $0.25 |
| 2015-03-10 | $0.25 |
| 2014-11-21 | $0.25 |
| 2014-08-26 | $0.25 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-04
- Consensus EPS estimate
- $0.50
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-05 | Jun/2026 | $0.56 |
| 2026-05-06 | - | - |
| 2026-02-25 | - | - |
| 2025-11-05 | - | - |
| 2025-08-06 | - | - |
| 2025-05-07 | - | - |
| 2025-02-26 | - | - |
| 2024-11-06 | - | - |
Filings and sources
- Company website
- inva.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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