INNOVATE (VATE) Stock Overview

Through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. More details

VATE fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	0/6
Financial Health	2/6
Dividends	0/6

Rewards

Earnings have grown 13.1% per year over the past 5 years

Risk Analysis

Negative shareholders equity

Volatile share price over the past 3 months compared to the US market

Does not have a meaningful market cap ($72M)

VATE Community Fair Values

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INNOVATE Corp. Competitors

Price History & Performance

Summary of share price highs, lows and changes for INNOVATE
Historical stock prices
Current Share Price	US$5.45
52 Week High	US$13.79
52 Week Low	US$3.25
Beta	1.73
1 Month Change	-5.22%
3 Month Change	-1.27%
1 Year Change	-11.41%
3 Year Change	-68.50%
5 Year Change	-80.04%
Change since IPO	-86.38%

Recent updates

Innovate Corp.: A Storied Past With A Yet-Unclear Upside; Hold For Now

Feb 16

INNOVATE Corp.'s (NYSE:VATE) Shares Bounce 81% But Its Business Still Trails The Industry

Jan 22

INNOVATE Corp. (NYSE:VATE) Held Back By Insufficient Growth Even After Shares Climb 81%

Jan 22

Innovate: Infrastructure Growth And Glacial AI Could Imply Undervaluation

Jul 06

Best New Idea For 2023: Innovate

Jan 25

Innovate GAAP EPS of -$0.09, revenue of $423M

Nov 02

Innovate GAAP EPS of -$0.18, revenue of $392.2M

Aug 03

Breaking Down Innovate's Potential

Oct 27

HC2 Holdings: A Granular Assessment

Jun 27

These 4 Measures Indicate That HC2 Holdings (NYSE:HCHC) Is Using Debt Extensively

Apr 13

The Independent Chairman of the Board of HC2 Holdings, Inc. (NYSE:HCHC), Avram Glazer, Just Bought 16% More Shares

Dec 10

Shareholder Returns

	VATE	US Construction	US Market
7D	5.8%	2.0%	1.8%
1Y	-11.4%	50.2%	13.7%

Return vs Industry: VATE underperformed the US Construction industry which returned 50.2% over the past year.

Return vs Market: VATE underperformed the US Market which returned 13.7% over the past year.

Price Volatility

Is VATE's price volatile compared to industry and market?
VATE volatility
VATE Average Weekly Movement	12.8%
Construction Industry Average Movement	7.4%
Market Average Movement	7.3%
10% most volatile stocks in US Market	17.2%
10% least volatile stocks in US Market	3.7%

Stable Share Price: VATE's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: VATE's weekly volatility has decreased from 18% to 13% over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
1994	3,148	Paul Voigt	www.innovatecorp.com

INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. The Infrastructure segment provides industrial construction, structural steel, and facility maintenance services, such as fabrication and erection of structural steel and heavy steel plate services, and large-diameter water pipes and water storage tanks; fabrication of trusses and girders; and 3-D building information modeling and detailing for commercial, industrial, and infrastructure construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills, and power plants. This segment also offers solutions for digital engineering, modeling and detailing, construction, and heavy equipment installation and facility services, including maintenance, repair, and installation; and manufactures pollution control scrubbers, tunnel liners, pressure vessels, strainers, filters, separators, and various customized products.

INNOVATE Corp. Fundamentals Summary

How do INNOVATE's earnings and revenue compare to its market cap?
VATE fundamental statistics
Market cap	US$72.39m
Earnings (TTM)	-US$42.90m
Revenue (TTM)	US$1.07b

0.1x

P/S Ratio

-1.7x

P/E Ratio

Is VATE overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
VATE income statement (TTM)
Revenue	US$1.07b
Cost of Revenue	US$860.40m
Gross Profit	US$205.70m
Other Expenses	US$248.60m
Earnings	-US$42.90m

Last Reported Earnings

Mar 31, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	-3.23
Gross Margin	19.29%
Net Profit Margin	-4.02%
Debt/Equity Ratio	-392.7%

How did VATE perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/07/07 17:09
End of Day Share Price	2025/07/03 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

INNOVATE Corp. is covered by 2 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Sarkis Sherbetchyan	B. Riley Securities, Inc.
Barry Sine	Drexel Hamilton

INNOVATE (VATE) Stock Overview

Rewards

Risk Analysis

INNOVATE Corp. Competitors

Shimmick

JFB Construction Holdings

Julong Holding

Ming Shing Group Holdings

Price History & Performance

Recent News & Updates

First quarter 2025 earnings released: US$1.89 loss per share (vs US$1.63 loss in 1Q 2024)

INNOVATE Corp., Annual General Meeting, Jun 12, 2025

INNOVATE Corp. to Report Q1, 2025 Results on May 06, 2025

Full year 2024 earnings released: US$3.35 loss per share (vs US$4.81 loss in FY 2023)

New minor risk - Market cap size

INNOVATE Corp. to Report Q4, 2024 Results on Mar 31, 2025

Recent updates

First quarter 2025 earnings released: US$1.89 loss per share (vs US$1.63 loss in 1Q 2024)

INNOVATE Corp., Annual General Meeting, Jun 12, 2025

INNOVATE Corp. to Report Q1, 2025 Results on May 06, 2025

Full year 2024 earnings released: US$3.35 loss per share (vs US$4.81 loss in FY 2023)

New minor risk - Market cap size

INNOVATE Corp. to Report Q4, 2024 Results on Mar 31, 2025

Innovate Corp.: A Storied Past With A Yet-Unclear Upside; Hold For Now

INNOVATE Corp. Announces U.S. Food and Drug Administration Approved the MediBeacon TGFR for the Assessment of Kidney Function in Patients with Normal or Impaired Renal Function

INNOVATE Corp.'s (NYSE:VATE) Shares Bounce 81% But Its Business Still Trails The Industry

INNOVATE Corp. (NYSE:VATE) Held Back By Insufficient Growth Even After Shares Climb 81%

New major risk - Share price stability

Interim Chief Executive Officer recently bought US$100k worth of stock

Third quarter 2024 earnings released: US$1.18 loss per share (vs US$0.93 loss in 3Q 2023)

INNOVATE Corp. to Report Q3, 2024 Results on Nov 06, 2024

Interim Chief Executive Officer recently bought US$166k worth of stock

INNOVATE Regains Compliance with NYSE Minimum Price Requirement

Second quarter 2024 earnings released: EPS: US$0.16 (vs US$0.14 loss in 2Q 2023)

INNOVATE Corp. to Report Q2, 2024 Results on Aug 07, 2024

New major risk - Shareholder dilution

Independent Chairman of the Board exercised options to buy US$27m worth of stock.

New major risk - Share price stability

First quarter 2024 earnings released: US$0.23 loss per share (vs US$0.13 loss in 1Q 2023)

INNOVATE Corp., Annual General Meeting, Jun 13, 2024

Now 30% overvalued

INNOVATE Corp. to Report Q1, 2024 Results on May 07, 2024

Now 20% overvalued

Now 21% undervalued after recent price drop

Full year 2023 earnings released: US$0.45 loss per share (vs US$0.53 loss in FY 2022)

INNOVATE Corp. has filed a Follow-on Equity Offering in the amount of $19 million.

INNOVATE Receives Written Notice from the New York Stock Exchange Regarding Non-Compliance with the Continued Listing Standard Set in Section 802.01C of the NYSE’s Listed Company Manual

INNOVATE Corp. to Report Q4, 2023 Results on Mar 04, 2024

Third quarter 2023 earnings released: US$0.093 loss per share (vs US$0.085 loss in 3Q 2022)

INNOVATE Corp. to Report Q3, 2023 Results on Nov 09, 2023

New minor risk - Market cap size

INNOVATE Corp. to Cease Suzi Herbst as Chief Operating Officer on or Around October 20, 2023

Second quarter 2023 earnings released: US$0.14 loss per share (vs US$0.17 loss in 2Q 2022)

Innovate Corp. Announces Chief Executive Officer Changes

INNOVATE Corp. Announces the Demise of Wayne Barr, President and Director

Innovate: Infrastructure Growth And Glacial AI Could Imply Undervaluation

New major risk - Share price stability

First quarter 2023 earnings released: US$0.13 loss per share (vs US$0.18 loss in 1Q 2022)

Full year 2022 earnings released: US$0.53 loss per share (vs US$1.04 loss in FY 2021)

Best New Idea For 2023: Innovate

Third quarter 2022 earnings released: US$0.085 loss per share (vs US$0.17 loss in 3Q 2021)

Innovate GAAP EPS of -$0.09, revenue of $423M

Second quarter 2022 earnings released: US$0.16 loss per share (vs US$0.29 loss in 2Q 2021)

Innovate GAAP EPS of -$0.18, revenue of $392.2M

Independent Director recently sold US$67k worth of stock

Independent Chairman of the Board recently bought US$1.1m worth of stock

First quarter 2022 earnings: EPS and revenues miss analyst expectations

Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind

Third quarter 2021 earnings released: US$0.17 loss per share (vs US$0.38 loss in 3Q 2020)

Breaking Down Innovate's Potential

Second quarter 2021 earnings released: US$0.29 loss per share (vs US$0.098 profit in 2Q 2020)

HC2 Holdings, Inc.(NYSE:HCHC) dropped from Russell Microcap Growth Index

HC2 Holdings: A Granular Assessment

First quarter 2021 earnings released: US$0.51 loss per share (vs US$0.51 loss in 1Q 2020)

These 4 Measures Indicate That HC2 Holdings (NYSE:HCHC) Is Using Debt Extensively

Chief Financial Officer recently sold US$59k worth of stock

HC2 Holdings, Inc. to Report Q4, 2020 Results on Mar 10, 2021

New 90-day high: US$4.13

Weigel Broadcasting Co. Inc. completed the acquisition of KAZD-TV, KYAZ-TV, KMOH-TV and a Low-Power Station in Phoenix from HC2 Holdings, Inc. (NYSE:HCHC).

Mercuria Investments US, Inc. entered into a definitive agreement to acquire Beyond6, Inc. from HC2 Holdings, Inc. (NYSE:HCHC) and others for approximately $170 million.