INVX
Innovex International, Inc.
INVX's fundamentals are mixed: it turned 14% of its revenue into free cash flow, but its operating margin fell 7 points to 6.9%. At 36x earnings, it's trading above its usual 32x. Analysts expect strong earnings growth.
INVX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Healthy | |
| Strong |
INVX's revenue, cash flow and balance sheet are currently healthy, and its profitability is stable.
INVX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.4x | $3.72 | -85% |
| Forward | 15x | $25.04 | — |
| Fair | 31x | $21.23 | -15% |
| Current | 36x | $25.04 | — |
| Expensive | 579x | $399 | +1495% |
Historical ranges are pointers, not guarantees.
INVX's PE is in its fair range at 36x. If earnings grow as analysts expect, today's price would be 15x next year's earnings.
INVX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for INVX, with profitability improving.
INVX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.71 | +148% |
| Q3 2026 | $0.69 | -71% |
| Q2 2026 | $0.89 | -77% |
| Q1 2026 | $0.75 | -79% |
| Q4 2025 | $1.20 | -57% |
| Q3 2025 | $2.41 | +70% |
| Q2 2025 | $3.83 | +$4.61 |
| Q1 2025 | $3.56 | +$4.19 |
| Q4 2024 | $2.77 | +13750% |
INVX's earnings per share have fallen from their peak: $0.69 over the past year, against $3.83 in mid-2025.
INVX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $265.1M | +10% |
| Q2 2026 | $244.9M | +9.2% |
| Q1 2026 | $239M | -0.6% |
| Q4 2025 | $273.6M | +9.1% |
| Q3 2025 | $240M | +58% |
| Q2 2025 | $224.2M | +86% |
| Q1 2025 | $240.4M | +118% |
| Q4 2024 | $250.7M | +98% |
INVX's revenue is growing: $265M last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | -14 points |
| Q2 2026 | 14% | +3.7 points |
| Q1 2026 | -9.1% | -18 points |
| Q4 2025 | 9.4% | -1.3 points |
| Q3 2025 | 26% | +35 points |
| Q2 2025 | 10% | +14 points |
| Q1 2025 | 9.1% | +26 points |
| Q4 2024 | 11% | +7.1 points |
INVX's operating margin was 12% last quarter, down 14 points from the same quarter a year ago.
INVX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $38.8M | -20% |
| Q2 2026 | $37M | -37% |
| Q1 2026 | $19.8M | -36% |
| Q4 2025 | $52.2M | +44% |
| Q3 2025 | $48.4M | -31% |
| Q2 2025 | $59.2M | +$74.7M |
| Q1 2025 | $31.1M | +$40M |
| Q4 2024 | $36.3M | +150% |
INVX generated $148M in free cash flow over the past year, down 15% from the year before.
INVX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.6% | +1.1M shares |
| 1 year | +2% | +1.4M shares |
| 3 years | +105% | +36.2M shares |
| 5 years | +100% | +35.3M shares |
| Available history | +95% | +34.5M shares |
INVX has 71M diluted shares, up 2% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $1,000 |
| Q1 2026 | $14.1M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $8.7M |
| Q1 2025 | $626,000 |
| Q4 2023 | — |
INVX spent $14M buying back its own shares over the past year.
INVX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.2x | Net Cash |
| Q2 2026 | -1.2x | Net Cash |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -0.9x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | -0.6x | Net Cash |
| Q4 2024 | -1.4x | Net Cash |
INVX has more cash than debt.
INVX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.5 | Neutral |
| Stochastic | 16.8 | Oversold |
INVX's weekly RSI is 43 (neutral) and its Stochastic is 17 (oversold).
INVX PE vs Energy Sector
| Metric | INVX | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 13x | 177% above |
| PE % | 62 | 61 | 1 pt above |
INVX is trading at 36x earnings, a 177% premium to the Energy sector's median of 13x.
INVX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $27.5 | 9% below |
| 20 week MA | $27.9 | 10% below |
| 50 week MA | $26.4 | 5.3% below |
| 100 week MA | $21.7 | 16% above |
| 200 week MA | $22.0 | 14% above |
INVX has slipped below its 8-, 20- and 50-week averages, though it's still 14% above its 200-week average.
INVX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.6 | $30.6 | -34% |
| 2021 | $30.6 | $19.4 | -37% |
| 2022 | $19.4 | $27.0 | +39% |
| 2023 | $27.0 | $23.3 | -14% |
| 2024 | $23.3 | $13.6 | -42% |
| 2025 | $13.6 | $22.1 | +63% |
| 2026 YTD | $22.1 | $25.0 | +14% |
INVX has finished lower in four of the last six years. It's up 14% so far in 2026.