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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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Market cap: $2.0B
P/E: 36.9×
Fwd P/E: 94.5×
Dividend yield: —
F-score: 6/9
Altman Z: 19.10
Beneish M: −2.42
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

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

Fold the line items

Columns are period end dates

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