Saturday 17 October 2026
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Innovative Solutions and Support, Inc.
IA Industrials Aerospace & Defense
Innovative Solutions and Support, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $84.3 million, up 78.6% from fiscal 2024. In the quarter to June 2026, revenue grew 10.7%, EPS grew 78.6%, free cash flow grew 31.1% and total debt rose 133.5%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
19.35
0.46
+2.44%
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| Sep '16 | Sep '17 | Sep '18 | Sep '19 | Sep '20 | Sep '21 | Sep '22 | Sep '23 | Sep '24 | Sep '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | 7 | 2 | 8 | 5 | 6 | 8 | 3 | 2 | 5 |
P/E ratio |
28.13 | 13.43 | 0.00 | 42.73 | 36.00 | 23.09 | 26.15 | 22.41 | 16.30 | 14.19 |
P/S ratio |
1.93 | 3.63 | 2.99 | 4.51 | 5.37 | 5.25 | 5.37 | 3.81 | 2.41 | 2.60 |
Altman Z-Score |
10.84 | 12.22 | 8.35 | 21.90 | 6.27 | 30.71 | 24.90 | 4.87 | 3.49 | 5.63 |
P/FCF ratio |
16.82 | 10.31 | 0.00 | 39.13 | 55.88 | 28.44 | 17.15 | 73.80 | 36.55 | 32.32 |
Altman Z″-Score (non-manufacturers) |
14.81 | 17.01 | 14.38 | 21.64 | 5.45 | 14.27 | 14.11 | 5.69 | 4.84 | 6.11 |
P/Operating CF |
28.69 | (219.21) | (86.98) | (562.67) | 73.99 | 151.26 | (456.83) | 114.55 | 255.65 | 73.97 |
Beneish M-Score |
(3.00) | (2.61) | (3.04) | (2.69) | (2.97) | 0.48 | (2.94) | 19.06 | (2.02) | (2.01) |
P/B ratio |
1.64 | 1.62 | 1.21 | 2.19 | 4.17 | 4.92 | 4.84 | 3.43 | 2.44 | 3.40 |
Price to Tangible BV |
1.64 | 1.62 | 1.21 | 2.19 | 4.19 | 4.93 | 4.85 | 7.02 | 7.90 | 6.40 |
EV/Sales |
1.26 | 2.16 | 1.51 | 3.24 | 4.27 | 4.89 | 4.75 | 4.28 | 3.20 | 2.86 |
EV/EBITDA |
12.00 | 97.58 | 0.00 | 28.72 | 28.98 | 26.01 | 17.37 | 18.50 | 12.86 | 10.10 |
EV/Operating CF |
9.89 | 5.98 | (12.03) | 26.98 | 42.02 | 24.54 | 21.61 | 71.12 | 26.08 | 18.11 |
EV/FCF |
10.97 | 6.13 | (4.88) | 28.07 | 44.43 | 26.51 | 15.17 | 82.92 | 48.54 | 35.48 |
Quick Ratio |
6.96 | 8.60 | 7.12 | 11.16 | 2.06 | 4.98 | 5.47 | 2.01 | 1.81 | 0.94 |
Current Ratio |
8.22 | 10.17 | 8.56 | 13.50 | 2.43 | 7.16 | 7.16 | 5.42 | 4.77 | 3.04 |
Net Debt/EBITDA |
(6.39) | (66.42) | 6.23 | (11.32) | (7.47) | (1.90) | (2.27) | 2.04 | 2.34 | 0.90 |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.11% | 0.16% | 0.08% | 30.97% | 34.02% | 23.35% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.50 | 0.60 | 0.37 |
Asset Turnover |
0.77 | 0.43 | 0.35 | 0.46 | 0.54 | 0.67 | 0.90 | 0.71 | 0.65 | 0.91 |
Operating CF/Net income |
1.79 | 1.33 | 0.48 | 1.14 | 0.67 | 0.91 | 1.10 | 0.35 | 0.83 | 0.85 |
Capex/Depreciation |
(0.71) | (0.34) | (5.84) | (0.18) | (0.27) | (0.79) | 7.03 | (0.43) | (1.28) | (1.73) |
Interest Coverage |
72.93 | (2.16) | (69.24) | 6.12 | 17.71 | 3,250.83 | 118.09 | 18.71 | 10.31 | 11.63 |
| 6.19% | 12.97% | (10.18%) | 5.26% | 10.22% | 19.35% | 19.96% | 17.37% | 16.41% | 28.10% | |
| 5.47% | 11.79% | (9.29%) | 4.86% | 8.16% | 14.76% | 17.88% | 12.34% | 9.63% | 16.83% | |
ROIC |
10.84% | (0.38%) | (16.85%) | 6.93% | 42.59% | 14.90% | 33.33% | 8.36% | 8.15% | 14.58% |
Return on Tangible Assets |
6.06% | 12.19% | (10.71%) | 5.11% | 11.83% | 21.68% | 18.08% | 16.67% | 17.16% | 29.56% |
Average Days of Receivables |
79.72 | 91.96 | 90.92 | 48.78 | 73.85 | 64.09 | 56.54 | 102.17 | 97.54 | 56.10 |
Research and Development Expense of Revenue |
17.42% | 26.55% | 25.82% | 14.17% | 13.69% | 11.38% | 9.75% | 8.99% | 8.77% | 4.74% |
Selling, General and Administrative Expense of Revenue |
32.79% | 22.27% | 48.19% | 33.45% | 28.25% | 27.15% | 24.35% | 31.09% | 25.67% | 19.51% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.31 | 0.39 | 0.29 |
Share Based Compensation of Revenue |
0.90% | 1.14% | 1.44% | 0.99% | 0.82% | 1.48% | 1.23% | 4.17% | 2.13% | 2.77% |
Graham Net Nets |
0.48 | 0.50 | 0.61 | 0.35 | 0.17 | 0.13 | 0.16 | 0.08 | (0.01) | 0.05 |
Graham Number |
2.23 | 3.70 | 0.00 | 2.30 | 2.65 | 3.12 | 3.64 | 4.12 | 4.90 | 8.53 |
Earnings Yield |
3.55% | 7.45% | (8.54%) | 2.34% | 2.78% | 4.33% | 3.82% | 4.46% | 6.13% | 7.05% |
Free Cash Flow Yield |
5.95% | 9.70% | (10.38%) | 2.56% | 1.79% | 3.52% | 5.83% | 1.35% | 2.74% | 3.09% |
Revenue per Share |
1.65 | 1.00 | 0.82 | 1.04 | 1.27 | 1.34 | 1.61 | 2.00 | 2.70 | 4.80 |
Operating CF per Share |
0.21 | 0.36 | (0.10) | 0.12 | 0.13 | 0.27 | 0.35 | 0.12 | 0.33 | 0.76 |
Capex per Share |
(0.02) | (0.01) | (0.15) | 0.00 | (0.01) | (0.02) | 0.15 | (0.02) | (0.15) | (0.37) |
Free Cash Flow per Share |
0.19 | 0.35 | (0.26) | 0.12 | 0.12 | 0.25 | 0.50 | 0.10 | 0.18 | 0.39 |
Cash per Share |
1.11 | 1.47 | 1.21 | 1.33 | 1.40 | 0.48 | 1.00 | 0.18 | 0.03 | 0.15 |
Shareholders Equity per Share |
1.94 | 2.25 | 2.03 | 2.15 | 1.64 | 1.43 | 1.78 | 2.22 | 2.67 | 3.68 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
1.94 | 2.25 | 2.03 | 2.15 | 1.64 | 1.43 | 1.78 | 2.22 | 2.67 | 3.68 |
Free Cash Flow |
3.21 | 5.91 | (4.29) | 2.03 | 2.07 | 4.25 | 8.68 | 1.80 | 3.11 | 6.79 |
Working Capital |
25.80 | 30.82 | 25.32 | 27.74 | 19.47 | 15.22 | 24.26 | 28.27 | 27.42 | 34.07 |
Capital Expenditures |
(0.35) | (0.15) | (2.55) | (0.08) | (0.12) | (0.34) | 2.59 | (0.30) | (2.68) | (6.51) |
Net Current Asset Value |
25.73 | 30.75 | 25.19 | 27.61 | 19.34 | 15.19 | 24.25 | 10.35 | (1.06) | 11.97 |
EV/EBIT |
14.42 | 0.00 | 0.00 | 37.20 | 33.56 | 28.89 | 18.25 | 20.26 | 15.65 | 12.00 |
Capex to Sales |
0.01 | 0.01 | 0.18 | 0.00 | 0.01 | 0.01 | (0.09) | 0.01 | 0.06 | 0.08 |
Price to Operating Income |
22.10 | 0.00 | 0.00 | 51.86 | 42.20 | 31.00 | 20.64 | 18.03 | 11.78 | 10.94 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.07 | 0.07 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.09 | 0.16 | 0.20 |
Cash ROIC |
6.22% | 9.49% | (7.86%) | 3.46% | 4.02% | 12.93% | 18.08% | 2.94% | 4.14% | 7.43% |
Accounts Receivable Turnover |
4.50 | 3.25 | 3.61 | 6.06 | 6.43 | 5.48 | 6.65 | 4.96 | 4.22 | 6.59 |
Accounts Payable Turnover |
7.81 | 6.14 | 5.13 | 5.88 | 10.47 | 14.51 | 16.61 | 13.19 | 11.65 | 14.86 |
Inventory Turnover |
2.79 | 2.22 | 1.73 | 1.75 | 2.24 | 2.32 | 2.24 | 2.35 | 2.26 | 2.27 |
Average Days of Payables |
47.80 | 55.64 | 76.37 | 51.31 | 29.48 | 22.18 | 23.38 | 36.16 | 39.71 | 29.83 |
Days of Inventory on Hand |
115.89 | 176.00 | 213.66 | 212.58 | 159.94 | 161.65 | 176.43 | 166.03 | 218.34 | 215.09 |
Average Receivables |
6.21 | 5.17 | 3.84 | 2.90 | 3.36 | 4.21 | 4.17 | 7.02 | 11.18 | 12.78 |
Average Payables |
1.47 | 1.41 | 1.43 | 1.30 | 0.94 | 0.71 | 0.67 | 1.02 | 1.83 | 2.95 |
Average Inventory |
4.12 | 3.91 | 4.23 | 4.38 | 4.38 | 4.42 | 4.95 | 5.74 | 9.44 | 19.27 |
Average Assets |
36.30 | 38.76 | 39.34 | 38.10 | 40.05 | 34.32 | 30.90 | 48.83 | 72.67 | 92.87 |
Average Common Equity |
32.10 | 35.23 | 35.88 | 35.18 | 31.99 | 26.18 | 27.67 | 34.69 | 42.64 | 55.62 |
Columns are period end dates