stockrowInnovAge 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
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InnovAge Holding Corp. (INNV) Piotroski F-score
InnovAge Holding Corp.'s Piotroski F-score for fiscal 2026 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 6 | 0.00 |
| FY2025 | 6 | 2.00 |
| FY2024 | 4 | 1.00 |
| FY2023 | 3 | (1.00) |
| FY2022 | 4 | (1.00) |
| FY2021 | 5 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (0.47%) | (5.64%) | Fail | 0 |
| Positive operating cash flow | 64.71m | 32.87m | Pass | 1 |
| Rising return on assets | (0.47%) | (5.64%) | Pass | 1 |
| Cash flow above net income | 67.25m | 63.18m | Pass | 1 |
| Falling long-term leverage | 0.10 | 0.12 | Pass | 1 |
| Rising current ratio | 1.05 | 1.07 | Fail | 0 |
| No new shares issued | 135,699,000 | 135,388,000 | Fail | 0 |
| Rising gross margin | 23.01% | 18.00% | Pass | 1 |
| Rising asset turnover | 1.83 | 1.59 | Pass | 1 |
| Piotroski F-score | Mixed | 6 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| HCSG Healthcare Services Group, Inc. compare | 8 |
| NUTX Nutex Health Inc. compare | 7 |
| USPH U.S. Physical Therapy, Inc. compare | 7 |
| INNV InnovAge Holding Corp. | 6 |
| ARDT Ardent Health, Inc. compare | 6 |
| PNTG The Pennant Group, Inc. compare | 5 |
| SNDA Sonida Senior Living, Inc. compare | 4 |
| AGL Agilon Health, Inc. compare | 3 |
| CMPS COMPASS Pathways PLC Sponsored ADR compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover