VATE
INNOVATE Corp.
VATE lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to shrink.
VATE Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Healthy | |
| Weak |
VATE's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is weak.
VATE PE Valuation
VATE has no meaningful PE right now: it lost money over the past year.
VATE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect VATE's losses to shrink, with revenue growing.
VATE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.05 | +$6.00 |
| Q2 2026 | -$1.86 | +$4.66 |
| Q1 2026 | -$4.24 | -$0.39 |
| Q4 2025 | -$4.84 | -$0.68 |
| Q3 2025 | -$6.05 | -$2.37 |
| Q2 2025 | -$6.52 | -$3.12 |
| Q1 2025 | -$3.85 | +$1.85 |
| Q4 2024 | -$4.16 | +$0.64 |
VATE lost $0.05 per share over the past year, a smaller loss than the year before.
VATE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $495.5M | +43% |
| Q2 2026 | $421.6M | +74% |
| Q1 2026 | $364.8M | +33% |
| Q4 2025 | $382.7M | +62% |
| Q3 2025 | $347.1M | +43% |
| Q2 2025 | $242M | -23% |
| Q1 2025 | $274.2M | -13% |
| Q4 2024 | $236.6M | -34% |
VATE's revenue has grown year over year for five quarters in a row: $496M last quarter, up 43% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6% | +4.2 points |
| Q2 2026 | 8.2% | +6.2 points |
| Q1 2026 | 2.7% | +1.5 points |
| Q4 2025 | 3.7% | +2.7 points |
| Q3 2025 | 1.8% | -0.7 points |
| Q2 2025 | 2% | -7.2 points |
| Q1 2025 | 1.2% | +0.3 points |
| Q4 2024 | 1.1% | -2.8 points |
VATE's operating margin was 6% last quarter, up 4.2 points from the same quarter a year ago.
VATE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $34.8M | +83% |
| Q2 2026 | -$24.7M | -155% |
| Q1 2026 | $45.3M | +$64.1M |
| Q4 2025 | $101.1M | +196% |
| Q3 2025 | $19M | +$50.5M |
| Q2 2025 | $44.8M | +143% |
| Q1 2025 | -$18.8M | +$12.2M |
| Q4 2024 | $34.2M | -40% |
VATE generated $157M in free cash flow over the past year, up 98% from the year before.
VATE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.9% | -264K shares |
| 1 year | +3.3% | +440K shares |
| 3 years | +75% | +5.9M shares |
| 5 years | +78% | +6M shares |
| Available history | +206% | +9.2M shares |
VATE has 14M diluted shares, up 3.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
VATE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.3x | High |
| Q2 2026 | 6.0x | High |
| Q1 2026 | 9.2x | High |
| Q4 2025 | 10.4x | High |
| Q3 2025 | 15.2x | High |
| Q2 2025 | 14.6x | High |
| Q1 2025 | 9.6x | High |
| Q4 2024 | 9.4x | High |
VATE's net debt is about 5.3 years of its operating earnings (EBITDA), down from 15 years a year ago.
VATE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.5 | Neutral |
| Stochastic | 2.3 | Oversold |
VATE's weekly RSI is 38 (neutral) and its Stochastic is 2 (oversold).
VATE PE vs Industrials Sector
VATE has no meaningful PE right now: it lost money over the past year.
VATE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.21 | 22% below |
| 20 week MA | $7.91 | 39% below |
| 50 week MA | $8.41 | 42% below |
| 100 week MA | $7.38 | 34% below |
| 200 week MA | $10.2 | 52% below |
VATE is in a downtrend: it's below all five of its weekly moving averages, and 52% below its 200-week average.
VATE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.1 | $36.8 | +74% |
| 2021 | $36.8 | $37.3 | +1.4% |
| 2022 | $37.3 | $14.2 | -62% |
| 2023 | $14.2 | $12.3 | -13% |
| 2024 | $12.3 | $5.33 | -57% |
| 2025 | $5.33 | $4.92 | -7.7% |
| 2026 YTD | $4.92 | $4.86 | -1.2% |
VATE has finished four years in a row lower, and it's down 1.2% so far in 2026.