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