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Friday 6 November 2026
Export INNV’s income statement to Excel — free account
InnovAge Holding Corp.
INNV Healthcare Medical Care Facilities
InnovAge Holding Corp.’s revenue for fiscal 2026 (year ended June 2026) was $989.7 million, up 15.9% from fiscal 2025.
- Revenue
- +12.1%
- EPS
- +155.0%
- Free cash flow
- +18,885.6%
- Total debt
- −16.7%
Quarter to September 2026, against a year earlier
9.04
0.75
−7.66%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to June
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Sep ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 466 | 567 | 638 | 699 | 688 | 764 | 854 | 990 | 1,018 | +11.4% | 1,074 | 1,160 | — | +8.3% | |
| Gross margin, % | — | — | 23.76 | 24.91 | 27.29 | 19.38 | 14.72 | 17.29 | 18.00 | 23.01 | 23.57 | (0.8) pt | ||||||
| EBT | — | — | 25 | 36 | (35) | (7) | (51) | (22) | (34) | 0 | 12 | (47.9%) | ||||||
| EBT margin, % | — | — | 5.45 | 6.28 | (5.48) | (1.04) | (7.38) | (2.86) | (3.99) | 0.03 | 1.22 | (5.4) pt | ||||||
| Net income | 0 | — | 19 | 26 | (45) | (8) | (44) | (23) | (35) | (1) | 13 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 3.52 | 4.28 | 5.16 | 5.16 | 5.07 | 5.62 | 6.31 | 7.29 | 7.47 | +11.0% | |||||
| Earnings | — | — | 0.14 | 0.19 | (0.36) | (0.05) | (0.30) | (0.16) | (0.22) | (0.02) | 0.07 | n/m | ||||||
| Cash flow | — | — | 0.20 | 0.33 | (0.06) | 0.20 | 0.15 | (0.27) | 0.24 | 0.48 | 0.66 | +13.6% | ||||||
| Capex | — | — | (0.11) | (0.09) | (0.16) | (0.28) | (0.17) | (0.06) | (0.05) | (0.08) | (0.10) | (4.7%) | ||||||
| Free cash flow | — | — | 0.09 | 0.24 | (0.22) | (0.08) | (0.02) | (0.33) | 0.20 | 0.40 | 0.56 | +24.4% | ||||||
| Book value | — | — | 0.62 | 0.81 | 2.76 | 2.50 | 2.23 | 2.04 | 1.76 | 1.76 | 1.89 | +16.2% | ||||||
| Shares, m | — | — | 132 | 133 | 124 | 136 | 136 | 136 | 135 | 136 | 136 | +0.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 123.84 | 0.0 | |||||
| P/S | — | — | 4.64 | 4.64 | 4.13 | 0.85 | 1.48 | 0.90 | 0.59 | 1.62 | 1.21 | 2.4 | ||||||
| P/B | — | — | 0.00 | 0.00 | 7.73 | 1.75 | 3.37 | 2.47 | 2.10 | 6.73 | 4.78 | 3.0 | ||||||
| EV/Sales | — | — | 5.01 | 5.01 | 3.94 | 0.70 | 1.34 | 0.86 | 0.54 | 1.54 | 1.10 | 2.4 | ||||||
| EV/FCF | — | — | 152.51 | 152.51 | (100.09) | (34.13) | (141.15) | (13.68) | 19.90 | 30.05 | 15.43 | 8.2 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | 26 | 44 | (8) | 27 | 20 | (37) | 33 | 65 | 90 | +14.0% | |||||
| Capex | — | — | (14) | (12) | (20) | (38) | (23) | (8) | (6) | (11) | (13) | (4.4%) | ||||||
| Free cash flow | — | — | 11 | 32 | (27) | (11) | (3) | (45) | 27 | 54 | 76 | +24.9% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 36 | 90 | 172 | 136 | 67 | 35 | 11 | 10 | 31 | (16.2%) | |||||
| Net debt | — | — | 132 | 102 | (123) | (103) | (92) | (25) | (39) | (85) | (108) | n/m | ||||||
| Shareholders’ equity | — | — | 81 | 108 | 341 | 338 | 302 | 278 | 238 | 239 | 258 | +16.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 10.78 | 6.80 | (9.34) | (1.20) | (7.24) | (3.83) | (5.64) | (0.47) | 1.68 | (11.2) pt | |||||
| ROIC | — | — | 11.62 | 15.18 | (3.54) | (1.17) | (14.68) | (5.73) | (9.34) | 1.06 | 6.05 | (10.6) pt | ||||||
| ROE | — | — | 22.35 | 27.78 | (19.60) | (1.92) | (12.70) | (7.36) | (11.76) | (1.06) | 3.54 | (23.4) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 1,910 | 1,800 | 2,000 | 2,100 | 2,350 | 2,440 | 2,500 | — | +4.6% | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.30 | 0.35 | 0.35 | 0.33 | 0.33 | 0.35 | 0.40 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Jun 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
InnovAge Holding Corp. vs peers in Medical Care Facilities (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| ARDT Ardent Health, Inc. | $1.8B | 15.2× | 12.8× | +3.05% (above 0%: growing) | n/m | −23.49% (below 0%: shrinking) | 100.00% | 0.00% | Compare |
| HCSG Healthcare Services Group, Inc. | $1.8B | 16.6× | 18.6× | +3.29% (above 0%: growing) | −37.29% (below 0%: shrinking) | −59.81% (below 0%: shrinking) | 16.76% | 6.66% | Compare |
| SNDA Sonida Senior Living, Inc. | $1.8B | — (loss-making) | — (loss-making) | +114.40% (above 0%: growing) | n/m | +360.11% (above 0%: growing) | 35.68% | (9.27%) | Compare |
| AGL Agilon Health, Inc. | $1.6B | — (loss-making) | — (loss-making) | +5.86% (above 0%: growing) | n/m | +234.38% (above 0%: growing) | 0.00% | 1.59% | Compare |
| PNTG The Pennant Group, Inc. | $1.5B | 37.3× | 36.7× | +31.96% (above 0%: growing) | +55.56% (above 0%: growing) | −3.19% (below 0%: shrinking) | 13.34% | 5.46% | Compare |
| NUTX Nutex Health Inc. | $1.4B | 7.4× | 7.3× | −13.62% (below 0%: shrinking) | n/m | +19.44% (above 0%: growing) | 67.04% | 57.75% | Compare |
| INNV InnovAge Holding Corp. | $1.3B | 124× | 20.9× | +12.14% (above 0%: growing) | +155.00% (above 0%: growing) | +18,885.62% (above 0%: growing) | 24.02% | 7.61% | |
| USPH U.S. Physical Therapy, Inc. | $1.3B | — (loss-making) | 45.8× | +12.90% (above 0%: growing) | n/m | +32.17% (above 0%: growing) | 19.34% | 0.00% | Compare |
| CMPS COMPASS Pathways PLC Sponsored ADR | $1.2B | — (loss-making) | — | — | n/m | −4.18% (below 0%: shrinking) | — | 0.00% | Compare |
| Median of peers | $1.6B | 15.9× | 18.6× | +5.86% | — | +8.12% | 19.34% | 0.80% |
Pay and ownership Proxy statement filed 22 October 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2026 | 6.17m | 25.97m | 321.14 |
| 2025 | 1.55m | 957.45k | 78.18 |
Ownership
Directors and executive officers, together
1.10%
TCO Group Holdings, L.P.
75.20%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement