Saturday 17 October 2026
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Innodata Inc
INOD Technology Information Technology Services
Innodata Inc’s revenue for fiscal 2025 (year ended December 2025) was $251.7 million, up 47.6% from fiscal 2024. In the quarter to June 2026, revenue grew 57.8%, EPS grew 87.0%, free cash flow grew 4,885.7% and total debt rose 771.4%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
52.82
3.75
−6.63%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 176.67 | 0.00 | 0.00 | 0.00 | 40.74 | 49.95 |
Piotroski F-Score |
3 | 4 | 6 | 4 | 7 | 5 | 3 | 6 | 8 | 6 |
Altman Z-Score |
4.45 | 2.64 | 3.47 | 2.12 | 4.32 | 4.65 | 2.40 | 5.51 | 16.70 | 19.10 |
P/S ratio |
0.95 | 0.54 | 0.68 | 0.53 | 2.24 | 2.26 | 1.06 | 2.53 | 6.76 | 6.44 |
P/FCF ratio |
0.00 | 0.00 | 25.30 | 11.24 | 30.44 | 201.34 | 0.00 | 646.43 | 42.49 | 45.46 |
Altman Z″-Score (non-manufacturers) |
4.74 | 3.07 | 4.58 | 2.36 | 3.09 | 2.46 | (0.99) | 1.31 | 5.72 | 7.71 |
Beneish M-Score |
(2.51) | (3.08) | (2.99) | (3.04) | (2.89) | (3.04) | (3.63) | (2.58) | (1.96) | (2.42) |
P/Operating CF |
(37.24) | (62.45) | (88.42) | (48.17) | 18,631.01 | (321.08) | 188.00 | 1,922.29 | 67.09 | 125.81 |
P/B ratio |
1.78 | 1.05 | 1.30 | 1.15 | 4.40 | 5.27 | 4.45 | 8.53 | 18.18 | 15.14 |
Price to Tangible BV |
2.63 | 1.59 | 1.81 | 1.64 | 7.47 | 9.04 | 19.83 | 22.20 | 23.99 | 17.81 |
EV/Sales |
0.81 | 0.48 | 0.58 | 0.44 | 2.07 | 2.10 | 1.00 | 2.46 | 6.54 | 6.16 |
EV/EBITDA |
0.00 | 0.00 | 5.94 | 14.00 | 35.07 | 120.07 | 0.00 | 42.38 | 36.97 | 33.13 |
EV/Operating CF |
(18.61) | 45.68 | 9.40 | 5.72 | 21.35 | 28.39 | (65.07) | 36.14 | 31.95 | 33.14 |
EV/FCF |
(9.29) | (10.53) | 21.86 | 9.37 | 28.20 | 186.77 | (10.22) | 629.38 | 41.07 | 43.46 |
Quick Ratio |
1.88 | 1.39 | 1.55 | 1.31 | 1.51 | 1.42 | 0.95 | 1.23 | 1.90 | 2.55 |
Current Ratio |
2.12 | 1.62 | 1.88 | 1.52 | 1.74 | 1.59 | 1.14 | 1.40 | 2.05 | 2.68 |
Net Debt/EBITDA |
5.98 | 2.53 | (0.94) | (2.80) | (2.78) | (9.36) | 0.66 | (1.15) | (1.28) | (1.56) |
Debt/Assets |
10.58% | 16.31% | 12.44% | 12.07% | 13.96% | 12.66% | 12.40% | 13.53% | 7.39% | 5.51% |
Debt/Equity |
0.15 | 0.25 | 0.19 | 0.23 | 0.27 | 0.25 | 0.32 | 0.31 | 0.13 | 0.09 |
Asset Turnover |
1.28 | 1.28 | 1.24 | 1.18 | 1.09 | 1.20 | 1.47 | 1.61 | 1.97 | 1.78 |
Operating CF/Net income |
0.50 | (0.13) | (14.10) | (2.00) | 9.17 | (3.08) | 0.10 | (6.50) | 1.22 | 1.45 |
Capex/Depreciation |
(0.86) | (0.93) | (0.50) | (0.62) | (0.61) | (1.52) | (1.68) | (1.18) | (1.34) | (1.61) |
Interest Coverage |
(74.95) | 221.61 | 48.33 | (7.90) | 8.74 | 15.29 | (952.00) | 1.78 | (163.33) | (25.69) |
| (15.35%) | (15.58%) | (0.83%) | (7.74%) | 2.24% | (5.62%) | (49.01%) | (4.08%) | 64.34% | 37.76% | |
| (11.18%) | (10.59%) | (0.55%) | (4.54%) | 1.16% | (2.87%) | (22.25%) | (1.69%) | 33.16% | 22.82% | |
ROIC |
(11.97%) | (11.57%) | 4.06% | (2.87%) | 3.68% | (5.57%) | (45.36%) | 1.00% | 61.14% | 73.05% |
Return on Tangible Assets |
(27.89%) | (29.88%) | (1.33%) | (14.15%) | 4.02% | (10.72%) | (221.84%) | (7.95%) | 62.86% | 34.67% |
Average Days of Receivables |
57.59 | 61.65 | 67.55 | 63.53 | 62.97 | 59.54 | 44.02 | 60.10 | 59.98 | 67.46 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
30.98% | 33.15% | 27.60% | 34.88% | 32.04% | 40.01% | 48.02% | 35.70% | 25.07% | 23.68% |
Intangible Assets out of Total Assets |
0.23 | 0.22 | 0.19 | 0.15 | 0.21 | 0.21 | 0.30 | 0.27 | 0.14 | 0.10 |
Share Based Compensation of Revenue |
1.84% | 1.14% | 1.39% | 1.50% | 1.57% | 2.51% | 4.16% | 4.64% | 2.35% | 4.43% |
Graham Net Nets |
0.22 | 0.26 | 0.28 | 0.00 | 0.03 | 0.03 | (0.07) | (0.01) | 0.03 | 0.05 |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.90 | 0.00 | 0.00 | 0.00 | 6.89 | 8.79 |
Earnings Yield |
(9.36%) | (15.75%) | (0.73%) | (7.80%) | 0.57% | (0.92%) | (14.05%) | (0.51%) | 2.45% | 2.00% |
Free Cash Flow Yield |
(9.12%) | (8.45%) | 3.95% | 8.89% | 3.29% | 0.50% | (9.28%) | 0.15% | 2.35% | 2.20% |
Revenue per Share |
2.47 | 2.36 | 2.22 | 2.17 | 2.37 | 2.62 | 2.90 | 3.08 | 5.85 | 7.91 |
Operating CF per Share |
(0.11) | 0.02 | 0.14 | 0.17 | 0.23 | 0.19 | (0.04) | 0.21 | 1.20 | 1.47 |
Capex per Share |
(0.11) | (0.13) | (0.08) | (0.06) | (0.06) | (0.16) | (0.24) | (0.20) | (0.27) | (0.35) |
Free Cash Flow per Share |
(0.21) | (0.11) | 0.06 | 0.10 | 0.17 | 0.03 | (0.28) | 0.01 | 0.93 | 1.12 |
Cash per Share |
0.55 | 0.44 | 0.42 | 0.42 | 0.71 | 0.71 | 0.38 | 0.49 | 1.61 | 2.59 |
Shareholders Equity per Share |
1.32 | 1.21 | 1.15 | 0.99 | 1.20 | 1.12 | 0.69 | 0.91 | 2.17 | 3.37 |
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 |
1.32 | 1.21 | 1.15 | 0.99 | 1.20 | 1.12 | 0.69 | 0.91 | 2.17 | 3.37 |
Free Cash Flow |
(5.47) | (2.77) | 1.53 | 2.61 | 4.29 | 0.78 | (7.74) | 0.34 | 27.12 | 35.65 |
Working Capital |
14.41 | 9.73 | 12.27 | 8.25 | 13.52 | 12.66 | 2.87 | 9.14 | 41.49 | 84.86 |
Capital Expenditures |
(2.74) | (3.41) | (2.03) | (1.67) | (1.37) | (4.37) | (6.53) | (5.56) | (7.74) | (11.10) |
Net Current Asset Value |
13.44 | 8.58 | 11.03 | 0.04 | 4.25 | 4.67 | (5.58) | (1.65) | 30.94 | 73.86 |
EV/EBIT |
0.00 | 0.00 | 21.03 | 0.00 | 102.41 | 0.00 | 0.00 | 670.94 | 45.78 | 38.86 |
Capex to Sales |
0.04 | 0.06 | 0.04 | 0.03 | 0.02 | 0.06 | 0.08 | 0.06 | 0.05 | 0.04 |
Price to Operating Income |
0.00 | 0.00 | 24.34 | 0.00 | 110.52 | 0.00 | 0.00 | 689.12 | 47.36 | 40.64 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.59 | 0.51 | 0.59 | 0.39 | 1.22 | 0.97 | 1.55 | 2.07 | 1.41 | 0.86 |
Cash ROIC |
(10.33%) | (5.51%) | 3.32% | 6.17% | 7.76% | 1.39% | (22.10%) | 0.71% | 22.86% | 17.95% |
Accounts Receivable Turnover |
6.57 | 6.02 | 5.49 | 5.49 | 5.89 | 6.51 | 7.56 | 7.29 | 8.06 | 6.75 |
Accounts Payable Turnover |
41.64 | 31.74 | 21.22 | 22.95 | 26.91 | 26.70 | 23.15 | 20.97 | 28.65 | 21.48 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
7.87 | 14.89 | 17.03 | 13.88 | 13.64 | 15.30 | 18.63 | 17.51 | 16.08 | 23.06 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
9.60 | 10.12 | 10.46 | 10.17 | 9.89 | 10.71 | 10.45 | 11.91 | 21.15 | 37.26 |
Average Payables |
1.13 | 1.44 | 1.85 | 1.63 | 1.43 | 1.63 | 2.23 | 2.65 | 3.61 | 7.08 |
Average Assets |
49.41 | 47.73 | 46.41 | 47.22 | 53.38 | 58.24 | 53.63 | 53.74 | 86.44 | 141.02 |
Average Common Equity |
36.00 | 32.45 | 30.47 | 27.67 | 27.59 | 29.78 | 24.35 | 22.24 | 44.55 | 85.23 |
Columns are period end dates