| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 0/6 |
| Past Performance | 0/6 |
| Financial Health | 0/6 |
| Dividends | 0/6 |
VATE Stock Overview
INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States.
INNOVATE Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$1.63 |
| 52 Week High | US$4.83 |
| 52 Week Low | US$1.54 |
| Beta | 2.01 |
| 1 Month Change | -5.78% |
| 3 Month Change | -31.22% |
| 1 Year Change | -56.07% |
| 3 Year Change | -23.83% |
| 5 Year Change | -65.17% |
| Change since IPO | -59.25% |
Recent News & Updates
Innovate GAAP EPS of -$0.18, revenue of $392.2M
Innovate press release (NYSE:VATE): Q2 GAAP EPS of -$0.18. Revenue of $392.2M (+60.9% Y/Y). Total Adjusted EBITDA was $12.1M, compared to Total Adjusted EBITDA of $6.5M for the prior year quarter.
Shareholder Returns
| VATE | US Construction | US Market | |
|---|---|---|---|
| 7D | -9.4% | 3.8% | 1.2% |
| 1Y | -56.1% | 11.0% | -11.6% |
Return vs Industry: VATE underperformed the US Construction industry which returned 9.2% over the past year.
Return vs Market: VATE underperformed the US Market which returned -13.5% over the past year.
Price Volatility
| VATE volatility | |
|---|---|
| VATE Average Weekly Movement | 8.9% |
| Construction Industry Average Movement | 6.1% |
| Market Average Movement | 7.9% |
| 10% most volatile stocks in US Market | 17.0% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: VATE is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.
Volatility Over Time: VATE's weekly volatility (9%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1994 | 3,902 | Wayne Barr | https://www.innovatecorp.com |
INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. It provides industrial construction, structural steel, and facility maintenance services for use in 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. The company also fabricates trusses and girders; and fabricates and erects water pipe, water storage tanks, tunnel liners, pressure vessels, strainers, filters, separators, and other customized products.
INNOVATE Fundamentals Summary
| VATE fundamental statistics | |
|---|---|
| Market Cap | US$127.86m |
| Earnings (TTM) | -US$45.10m |
| Revenue (TTM) | US$1.59b |
0.1x
P/S Ratio-2.8x
P/E RatioIs VATE overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| VATE income statement (TTM) | |
|---|---|
| Revenue | US$1.59b |
| Cost of Revenue | US$1.38b |
| Gross Profit | US$216.90m |
| Other Expenses | US$262.00m |
| Earnings | -US$45.10m |
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.57 |
| Gross Margin | 13.60% |
| Net Profit Margin | -2.83% |
| Debt/Equity Ratio | -3,489.5% |
How did VATE perform over the long term?
See historical performance and comparisonValuation
Is VATE undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation Score 2/6
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast
Key Valuation Metric
Which metric is best to use when looking at relative valuation for VATE?
Other financial metrics that can be useful for relative valuation.
| What is VATE's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | US$127.86m |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 0.6x |
| Enterprise Value/EBITDA | 16.2x |
| PEG Ratio | n/a |
Price to Sales Ratio vs Peers
How does VATE's PS Ratio compare to its peers?
| VATE PS Ratio vs Peers |
|---|
| Company | PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 0.4x | ||
BWMN Bowman Consulting Group | 1.1x | 18.2% | US$191.5m |
QTEK QualTek Services | 0.05x | 11.9% | US$71.9m |
ORN Orion Group Holdings | 0.1x | 2.4% | US$81.9m |
MTRX Matrix Service | 0.2x | 11.1% | US$147.1m |
VATE INNOVATE | 0.08x | n/a | US$127.9m |
Price-To-Sales vs Peers: VATE is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.4x).
Price to Earnings Ratio vs Industry
How does VATE's PE Ratio compare vs other companies in the US Construction Industry?
Price-To-Sales vs Industry: VATE is good value based on its Price-To-Sales Ratio (0.1x) compared to the US Construction industry average (0.8x)
Price to Sales Ratio vs Fair Ratio
What is VATE's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 0.08x |
| Fair PS Ratio | n/a |
Price-To-Sales vs Fair Ratio: Insufficient data to calculate VATE's Price-To-Sales Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of VATE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: Insufficient data to calculate VATE's fair value for valuation analysis.
Significantly Below Fair Value: Insufficient data to calculate VATE's fair value for valuation analysis.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Insufficient data to show price forecast.
Discover undervalued companies
- Take a look at our analysis of VATE's management and see if the CEO's compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
- When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don't know where to start, we recommend reading through INNOVATE regulatory filings.
Future Growth
How is INNOVATE forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Future Growth Score
0/6Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
28.9%
Forecasted Capital Goods industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as INNOVATE has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Discover growth companies
- Take a look at our analysis of VATE’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
- INNOVATE competitive advantages and company strategy can generally be found in its financial reports archived here.
Past Performance
How has INNOVATE performed over the past 5 years?
Past Performance Score
0/6Past Performance Score 0/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-19.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: VATE is currently unprofitable.
Growing Profit Margin: VATE is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: VATE is unprofitable, and losses have increased over the past 5 years at a rate of 19.6% per year.
Accelerating Growth: Unable to compare VATE's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: VATE is unprofitable, making it difficult to compare its past year earnings growth to the Construction industry (13.1%).
Return on Equity
High ROE: VATE's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.
Discover strong past performing companies
Financial Health
How is INNOVATE's financial position?
Financial Health Score
0/6Financial Health Score 0/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway
Financial Position Analysis
Short Term Liabilities: VATE has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.
Long Term Liabilities: VATE has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.
Debt to Equity History and Analysis
Debt Level: VATE has negative shareholder equity, which is a more serious situation than a high debt level.
Reducing Debt: VATE's has negative shareholder equity, so we do not need to check if its debt has reduced over time.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: VATE has less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: VATE has less than a year of cash runway if free cash flow continues to reduce at historical rates of 9.9% each year
Discover healthy companies
Dividend
What is INNOVATE current dividend yield, its reliability and sustainability?
Dividend Score
0/6Dividend Score 0/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage
Dividend Yield vs Market
Notable Dividend: Unable to evaluate VATE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate VATE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if VATE's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if VATE's dividend payments have been increasing.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as VATE has not reported any payouts.
Discover strong dividend paying companies
Management
How experienced are the management team and are they aligned to shareholders interests?
3.5yrs
Average management tenure
CEO
Wayne Barr (58 yo)
2.17yrs
Tenure
US$1,375,000
Compensation
Mr. Wayne Barr, Jr., serves as the Chief Executive Officer at INNOVATE Corp. (formerly known as HC2 Holdings, Inc.) since November 25, 2020 and its President and served as its Interim Chief Executive Offic...
CEO Compensation Analysis
Compensation vs Market: Wayne's total compensation ($USD1.38M) is above average for companies of similar size in the US market ($USD770.24K).
Compensation vs Earnings: Wayne's compensation has increased whilst the company is unprofitable.
Leadership Team
Experienced Management: VATE's management team is considered experienced (3.5 years average tenure).
Board Members
Experienced Board: VATE's board of directors are considered experienced (4.2 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: VATE insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
INNOVATE Corp.'s employee growth, exchange listings and data sources
Key Information
- Name: INNOVATE Corp.
- Ticker: VATE
- Exchange: NYSE
- Founded: 1994
- Industry: Construction and Engineering
- Sector: Capital Goods
- Implied Market Cap: US$127.858m
- Shares outstanding: 78.44m
- Website: https://www.innovatecorp.com
Number of Employees
Location
- INNOVATE Corp.
- 295 Madison Avenue
- 12th Floor
- New York
- New York
- 10017
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/08/10 00:00 |
| End of Day Share Price | 2022/08/10 00:00 |
| Earnings | 2022/06/30 |
| Annual Earnings | 2021/12/31 |
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 here.