Innovex International (INVX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Innovex International

NYSE•Energy•Oil & Gas Equipment & Services

$29.33-0.62(-0.02%)Pre-market

Market Cap

$2.01B

P/E

32.6x

P/S

2.0x

P/B

1.9x

Innovex International, Inc. designs, manufactures, sells, and rents mission critical engineered products to the oil and natural gas industry worldwide. It provides drilling enhancement tools to optimize drilling performance, increase rate of penetration, and mitigate downhole challenges; and fishing and intervention which supports workover, intervention, drilling and completion activities, as well as manufactures and sells products including external catch tools, internal catch tools, and other related fishing and remedial tools. The company also offers well production solutions comprising products and services that enable artificial lift in wells and provides artificial lift accessory products and services, as well as wellhead penetrators, tubing hangers and adapters, ESP cable management, and spooling services; service, mileage, and others; subsea equipment and engineered systems for offshore applications, including subsea wellheads, subsea connectors, casing connectors, deepwater centralization solutions, and diverter systems; and surface wellhead systems. In addition, it provides well completion portfolio comprising products used to enable a well to be stimulated and put on production, such as liner hanger systems, toe initiation products, frac plugs, completion packers, casing flotation products, and related completion accessories; and well construction portfolio that consists of products designed to ensure the structural integrity of the wellbore. Further, the company offers products utilized to support effective cement placement between the wellbore and casing. It sells and rents its products to international and national oil companies, independent exploration and production companies, and multinational service companies. Its products have applications in the onshore and offshore oil and natural gas wells, including well construction, well completion, and well production and intervention. The company was founded in 2016 and is headquartered in Humble, Texas.

How this company scores

GoodMetricSide Score: 62/100

Strongest: Balance Sheet & Red Flags (21/25); weakest: Growth (12/25).

Profitability13/25

Growth12/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality16/25

Strengths

Low leverageCash-backed earningsConsistent free cash flowImproving leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 32.6x5y range 4.9x – 2087.1x

Currently above its 12-quarter median.

P/S · 2.0x5y range 1.0x – 3.8x

Currently near its 20-quarter median.

P/B · 1.9x5y range 0.7x – 1.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Share Dilution

Red Flag

Shares outstanding increased 68.9% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $2.01B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $997.53M
Q. Revenue: $244.90M
TTM EBITDA: $163.29M
TTM Op. Income: $100.03M
Q. Op. Income: $33.78M
TTM Net Income: $61.56M
Q. Net Income: $25.03M
EPS: $0.36
Shares Out.: $68.79M

$997.53M in TTM revenue grew 11.5% YoY, reaching $244.90M last quarter. TTM EBITDA of $163.29M and TTM operating income of $100.03M show growth is flowing through to the bottom line. TTM net income of $61.56M means revenue is converting into profit. Over the past year, TTM revenue is up 11% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 20.4%
Op. Margin: 13.8%
Net Margin: 10.2%

Op. margin of 13.8% is up 3.7% YoY — cost efficiency is improving. Net margin at 10.2% Over the past year, operating margin is up 36% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 32.6x
P/S Ratio: 2.0x
P/B Ratio: 1.9x

At 32.6x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.0x and P/B of 1.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 4 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.33B
Cash: $222.06M
Long-Term Debt: $19.04M
Book Value: $1.06B
D/E Ratio: 0.0
Debt/EBITDA: 0.4

With $1.33B in assets and $19.04M in long-term debt, D/E is 0.0and book value is $1.06B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 49% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $37.03M
TTM Free Cash Flow: $124.23M
FCF Margin: 12.5%
FCF / Net Income: 2.0

TTM FCF of $124.23M on $37.03M in operating cash flow. The FCF / Net Income ratio of 2.0x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.