company background image
INNV

InnovAge Holding NasdaqGS:INNV Stock Report

Last Price

US$4.08

Market Cap

US$552.9m

7D

-7.5%

1Y

-72.7%

Updated

17 Aug, 2022

Data

Company Financials +
INNV fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance3/6
Financial Health5/6
Dividends0/6

INNV Stock Overview

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities.

Rewards

Trading at 50.5% below our estimate of its fair value

Earnings are forecast to grow 84.22% per year

Became profitable this year

Risk Analysis

No risks detected for INNV from our risk checks.

InnovAge Holding Competitors

Price History & Performance

Summary of all time highs, changes and price drops for InnovAge Holding
Historical stock prices
Current Share PriceUS$4.08
52 Week HighUS$15.89
52 Week LowUS$3.46
Beta0
1 Month Change-13.56%
3 Month Change-9.13%
1 Year Change-72.67%
3 Year Changen/a
5 Year Changen/a
Change since IPO-83.14%

Recent News & Updates

Aug 17

InnovAge names Richard Feifer as chief medical officer

InnovAge (NASDAQ:INNV) on Wednesday named Richard Feifer as its chief medical officer (CMO). As CMO, Feifer will lead the company's clinical care delivery, including medical care, quality, pharmacy, dental, and behavioral health, INNV said in a statement. INNV provides healthcare programs for senior citizens through its Program of All-inclusive Care for the Elderly. Feifer was most recently at Genesis HealthCare, which runs more 250 nursing centers and senior living communities. INNV stock earlier closed -6.2% at $4.08.

Jul 27
InnovAge Holding (NASDAQ:INNV) Could Be Struggling To Allocate Capital

InnovAge Holding (NASDAQ:INNV) Could Be Struggling To Allocate Capital

What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a...

Shareholder Returns

INNVUS HealthcareUS Market
7D-7.5%0.4%1.1%
1Y-72.7%13.8%-9.0%

Return vs Industry: INNV underperformed the US Healthcare industry which returned 13% over the past year.

Return vs Market: INNV underperformed the US Market which returned -8.9% over the past year.

Price Volatility

Is INNV's price volatile compared to industry and market?
INNV volatility
INNV Average Weekly Movement11.1%
Healthcare Industry Average Movement8.7%
Market Average Movement7.6%
10% most volatile stocks in US Market17.0%
10% least volatile stocks in US Market3.1%

Stable Share Price: INNV is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: INNV's weekly volatility (11%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20071,800Patrick Blairhttps://www.innovage.com

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. The company offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to the PACE center and third-party medical appointments; and care management.

InnovAge Holding Fundamentals Summary

How do InnovAge Holding's earnings and revenue compare to its market cap?
INNV fundamental statistics
Market CapUS$552.94m
Earnings (TTM)US$12.66m
Revenue (TTM)US$697.40m

43.7x

P/E Ratio

0.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
INNV income statement (TTM)
RevenueUS$697.40m
Cost of RevenueUS$168.22m
Gross ProfitUS$529.18m
Other ExpensesUS$516.51m
EarningsUS$12.66m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.093
Gross Margin75.88%
Net Profit Margin1.82%
Debt/Equity Ratio19.9%

How did INNV perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is INNV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 INNV?

Other financial metrics that can be useful for relative valuation.

INNV key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.7x
Enterprise Value/EBITDA14.4x
PEG Ratio0.5x

Price to Earnings Ratio vs Peers

How does INNV's PE Ratio compare to its peers?

INNV PE Ratio vs Peers
The above table shows the PE ratio for INNV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average14.3x
EHAB Enhabit
7.3x-13.5%US$709.5m
NRC National Research
24.6xn/aUS$888.4m
CO Global Cord Blood
4.4xn/aUS$324.1m
DCGO DocGo
20.9x24.8%US$1.1b
INNV InnovAge Holding
43.7x84.2%US$552.9m

Price-To-Earnings vs Peers: INNV is expensive based on its Price-To-Earnings Ratio (43.7x) compared to the peer average (14.3x).


Price to Earnings Ratio vs Industry

How does INNV's PE Ratio compare vs other companies in the US Healthcare Industry?

Price-To-Earnings vs Industry: INNV is expensive based on its Price-To-Earnings Ratio (43.7x) compared to the US Healthcare industry average (19.7x)


Price to Earnings Ratio vs Fair Ratio

What is INNV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

INNV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio43.7x
Fair PE Ratio168.1x

Price-To-Earnings vs Fair Ratio: INNV is good value based on its Price-To-Earnings Ratio (43.7x) compared to the estimated Fair Price-To-Earnings Ratio (168.1x).


Share Price vs Fair Value

What is the Fair Price of INNV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: INNV ($4.08) is trading below our estimate of fair value ($8.24)

Significantly Below Fair Value: INNV is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.


Discover undervalued companies

Future Growth

How is InnovAge Holding forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


84.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: INNV's forecast earnings growth (84.2% per year) is above the savings rate (1.9%).

Earnings vs Market: INNV's earnings (84.2% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: INNV's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: INNV's revenue (15.8% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: INNV's revenue (15.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: INNV's Return on Equity is forecast to be low in 3 years time (11.5%).


Discover growth companies

Past Performance

How has InnovAge Holding performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


12.7%

Last years revenue growth

Earnings and Revenue History

Quality Earnings: INNV has high quality earnings.

Growing Profit Margin: INNV became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: INNV has become profitable over the past 5 years.

Accelerating Growth: INNV has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: INNV has become profitable in the last year, making it difficult to compare its past year earnings growth to the Healthcare industry (8.1%).


Return on Equity

High ROE: INNV's Return on Equity (3.2%) is considered low.


Discover strong past performing companies

Financial Health

How is InnovAge Holding's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: INNV's short term assets ($250.4M) exceed its short term liabilities ($94.4M).

Long Term Liabilities: INNV's short term assets ($250.4M) exceed its long term liabilities ($97.7M).


Debt to Equity History and Analysis

Debt Level: INNV has more cash than its total debt.

Reducing Debt: Insufficient data to determine if INNV's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: INNV's debt is well covered by operating cash flow (46%).

Interest Coverage: INNV's interest payments on its debt are well covered by EBIT (11.2x coverage).


Balance Sheet


Discover healthy companies

Dividend

What is InnovAge Holding current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend 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 INNV's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate INNV'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 INNV's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if INNV'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 INNV has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.0yrs

Average management tenure


CEO

Patrick Blair (51 yo)

0.67yr

Tenure

Mr. Patrick Blair serves as President of InnovAge Holding Corp. since December 1, 2021 and as its CEO since January 01, 2022. He had been the Chief Marketing Officer and Senior Vice President of Commercial...


Leadership Team

Experienced Management: INNV's management team is not considered experienced ( 2 years average tenure), which suggests a new team.


Board Members

Experienced Board: INNV's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

InnovAge Holding Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: InnovAge Holding Corp.
  • Ticker: INNV
  • Exchange: NasdaqGS
  • Founded: 2007
  • Industry: Health Care Services
  • Sector: Healthcare
  • Implied Market Cap: US$552.942m
  • Shares outstanding: 135.53m
  • Website: https://www.innovage.com

Number of Employees


Location

  • InnovAge Holding Corp.
  • 8950 East Lowry Boulevard
  • Denver
  • Colorado
  • 80230
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/17 00:00
End of Day Share Price2022/08/17 00:00
Earnings2022/03/31
Annual Earnings2021/06/30


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.