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Innovex International, Inc.

INVX

Energy Oil & Gas Equipment & Services

Innovex International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $978.3 million, up 48.0% from fiscal 2024.

Revenue
+10.4%
EPS
−33.3%
Free cash flow
−74.1%
Total debt
−8.56%

Quarter to September 2026, against a year earlier

25.13 0.70 +2.87%
Market cap
$1.8B
P/E
35.9×
Fwd P/E
27.5×
Dividend yield
—
F-score
6/9
ROIC
4.60%
Net debt / EBITDA
−0.9×
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Net sold
$614.6M
Trades
10 sells · 0 buys
Ownership
27.0%

Capital & Financial Ratios $m

Size
Market Cap 1,760
Revenue ttm 1,023
Net income ttm 49
Free cash flow ttm 128
Net debt Q (165)
Valuation
P/E 35.9 (above 35: high)
Forward P/E 27.5
Price / sales 1.7
Forward P/S Powerpack
Price / FCF 13.8
Price / book 1.6
Financial health
Current ratio Q 4.4 (at or above 1.5: strong)
Debt / equity Q 0.0 (at or below 0.5: strong)
Interest coverage Q (168.4)
Growth
Revenue growth Q +10.4% (above 0%: growing)
Operating income growth Q −48.1% (below 0%: shrinking)
EPS, this year +38.6% (at or above 15%: strong)
EPS, next year A +16.6% (at or above 15%: strong)
Revenue, next year A +4.2%
EPS, past 5 yrs —
EPS, next 5 yrs A +24.2% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates; n/m is not meaningful, as a P/E on a loss. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.6×, against a ten-year median of 1.8×; over the ten years it ranged from 0.6× in 2024 to 3.8× in 2019.
P/E against its own 10 years 87.13%
10-year low 10-year high
P/S against its own 10 years 22.43%
10-year low 10-year high
P/B against its own 10 years 81.23%
10-year low 10-year high
EV/Sales against its own 10 years 37.02%
10-year low 10-year high
EV/FCF against its own 10 years 48.82%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 7 73 203 189
Receivables 118 240 238 252
Inventory 141 271 248 300
Other 10 10 3 2
288 641 728 815
2023 2024 2025 Q'26
Payables 32 65 61 82
ST’ Debt 10 10 7 6
Other 1 16 19 30
79 163 148 184

Compound Annual Growth %

10y 5y 3y
Sales 1.48% 21.80% 27.93%
Cash Flow 0.04% 0.00% 0.00%
Earnings (8.01%) 0.00% 9.60%
Book Value (2.22%) 0.31% 6.63%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.40 Actual 0.37

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.29 0.20 Miss by 0.09
Q1 FY26 0.23 0.34 Beat by 0.11
Q2 FY26 0.30 0.36 Beat by 0.06
Q3 FY26 0.40 0.37 Miss by 0.03
Q4 FY26 0.38 — Reports 22 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.24) 0.36 0.37 — —
’25 0.21 0.22 0.57 0.20 1.20
’24 0.51 0.30 1.99 0.47 2.77
’23 0.07 0.10 0.48 1.64 2.29
’22 (0.26) (0.16) 0.44 2.04 2.01
’21 (0.97) (0.54) (0.31) (1.81) (3.62)
’20 (0.55) (0.40) 0.41 (0.33) (0.87)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 239 245 265 — —
’25 240 224 240 274 978
’24 128 130 152 251 661
’23 91 90 139 236 556
’22 83 94 88 202 467
’21 81 81 83 77 322
’20 96 90 91 87 365
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 20 37 39 — —
’25 31 59 48 52 191
’24 13 23 22 36 93
’23 (53) 11 96 21 76
’22 (11) (9) 1 13 (6)
’21 13 11 9 5 38
’20 (21) 3 14 (17) (21)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 14 36 33 — —
’25 25 60 126 45 256
’24 10 22 21 30 83
’23 (43) 2 82 21 62
’22 (13) (10) 9 0 (14)
’21 17 8 7 3 35
’20 (25) 1 12 (16) (27)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 539 455 385 415 365 322 467 556 661 978 1,023 +6.9% 1,019 1,128 1,200 +7.0%
Gross margin, % 39.04 27.49 23.67 28.88 26.10 4.09 33.84 35.18 35.20 31.00 33.56 (8.0) pt
EBT 116 (66) (115) 10 (62) (126) 73 94 143 129 76 +1.2%
EBT margin, % 21.51 (14.41) (29.90) 2.51 (17.00) (38.94) 15.61 16.99 21.61 13.14 7.39 (8.4) pt
Net income 93 (101) (96) 2 (31) (128) 63 74 140 83 49 (1.2%)
Per share, $
Per share, $ Revenue 14.35 12.16 10.37 11.57 10.35 9.13 15.30 17.96 13.29 14.18 14.62 (0.1%)
Earnings 2.47 (2.69) (2.58) 0.05 (0.87) (3.62) 2.07 2.39 2.82 1.21 0.70 (7.6%)
Cash flow 6.57 2.88 1.23 0.41 (0.60) 1.09 (0.19) 2.45 1.88 2.77 2.11 (9.2%)
Capex (0.68) (0.65) (0.41) (0.24) (0.16) (0.09) (0.28) (0.46) (0.21) 0.94 (0.29) n/m
Free cash flow 5.89 2.23 0.82 0.17 (0.76) 1.00 (0.47) 2.00 1.67 3.71 1.82 (5.0%)
Book value 36.14 34.56 29.57 30.43 29.54 25.39 28.56 10.63 19.27 15.33 15.97 (9.1%)
Shares, m 38 37 37 36 35 35 31 31 50 69 69 +7.0%
Valuation, ×
Valuation, × P/E 24.82 0.00 0.00 938.20 0.00 0.00 12.26 9.53 4.19 18.23 35.90 100.7
P/S 4.27 4.07 2.89 4.05 2.86 2.16 1.71 1.27 1.05 1.54 1.72 2.6
P/B 1.70 1.43 1.02 1.54 1.00 0.78 0.91 2.14 0.73 1.43 1.57 1.3
EV/Sales 3.49 2.98 1.81 3.11 1.93 1.07 1.08 1.35 0.99 1.36 1.56 1.9
EV/FCF 8.49 16.27 22.92 207.55 (26.41) 9.79 (35.07) 12.09 7.90 5.20 12.49 22.9
Cash, $m
Cash, $m Operating cash flow 247 108 46 15 (21) 38 (6) 76 93 191 148 (2.8%)
Capex (25) (24) (15) (8) (6) (3) (9) (14) (10) 65 (20) n/m
Free cash flow 221 84 30 6 (27) 35 (14) 62 83 256 128 +1.6%
Balance, $m
Balance, $m Working capital 955 909 771 784 778 652 662 210 479 580 631 (5.4%)
Net debt (423) (493) (418) (393) (339) (350) (292) 43 (38) (178) (165) (9.2%)
Shareholders’ equity 1,356 1,294 1,096 1,091 1,042 897 872 329 958 1,058 1,117 (2.7%)
Returns, %
Returns, % ROA 6.45 (7.03) (7.38) 0.14 (2.61) (11.89) 6.39 10.23 16.78 6.76 3.64 +0.3 pt
ROIC 7.56 (5.39) (11.31) 0.25 (5.65) (14.33) 8.17 16.35 3.33 9.42 4.60 +1.9 pt
ROE 6.95 (7.59) (8.01) 0.16 (2.89) (13.26) 7.15 12.31 21.81 8.26 4.51 +1.3 pt
People
People Employees 2,319 2,019 1,926 1,814 1,424 1,342 1,356 1,659 2,683 2,160 — (0.8%)
Revenue/emp, $m 0.23 0.23 0.20 0.23 0.26 0.24 0.34 0.33 0.25 0.45 — +7.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

Innovex International, Inc. vs peers in Oil & Gas Equipment & Services (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
EFXT Enerflex Ltd. $2.4B 33.4× — −19.82% (below 0%: shrinking) +50.13% (above 0%: growing) +147.62% (above 0%: growing) 22.79% 12.36% Compare
WTTR Select Water Solutions, Inc. $2.1B 60.1× 30.1× +8.67% (above 0%: growing) +70.00% (above 0%: growing) +56.98% (above 0%: growing) 19.41% 8.68% Compare
NESR National Energy Services Reunited $2.0B 21.2× 12.6× +59.07% (above 0%: growing) +175.00% (above 0%: growing) +45.79% (above 0%: growing) 15.61% 12.45% Compare
LBRT Liberty Energy Inc. $2.0B 49.8× 68.8× +26.26% (above 0%: growing) n/m −548.07% (below 0%: shrinking) 16.81% 1.61% Compare
FLOC Flowco Holdings Inc. $1.8B 9.7× 12.9× +46.16% (above 0%: growing) +99.50% (above 0%: growing) +348.21% (above 0%: growing) 53.01% 18.53% Compare
INVX Innovex International, Inc. $1.8B 35.9× 27.5× +10.44% (above 0%: growing) −33.33% (below 0%: shrinking) −74.11% (below 0%: shrinking) 36.17% 12.20%
NEXT NextDecade Corporation $1.6B 4.8× — — n/m +24.70% (above 0%: growing) 0.00% 0.00% Compare
XPRO Expro Group Holdings N.V. $1.5B 963× 16.3× +6.95% (above 0%: growing) n/m −23.77% (below 0%: shrinking) 21.65% 1.11% Compare
RES RPC, Inc. $1.2B — (loss-making) 20.4× +4.61% (above 0%: growing) n/m −35.59% (below 0%: shrinking) 25.22% (11.50%) Compare
Median of peers $1.9B 33.4× 18.4× +8.67% +84.75% +35.25% 20.53% 5.15%

All 48 Oil & Gas Equipment & Services stocks →

Pay and ownership Proxy statement filed 27 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 3.28m 4.05m 73.84
2024 9.09m 7.72m 47.16
2023 3.74m 2.00m 78.56
2022 4.06m 3.25m 91.73
2021 6.08m (165.87k) 66.44

Ownership

Directors and executive officers, together 34.90%
Jason Turowsky 33.20%
Amberjack Capital Partners, L.P. 33.20%
Brandes Investment Partners, L.P. 11.20%
BlackRock, Inc. 8.40%
The Vanguard Group 7.10%
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

Innovex International, Inc. (INVX) Latest News

8 Nov

Impact 3 · · Simply Wall St.

7 Nov

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30 Oct

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6 Aug

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4 Aug

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3 Aug

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1 Jul

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15 Jun

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14 May

Impact 4 · · Insider Monkey

13 May

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Impact 3 · · Simply Wall St.

9 May

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5 May

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4 May

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27 Apr

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20 Apr

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28 Feb

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25 Feb

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24 Feb

Impact 4 · · GuruFocus.com

23 Feb

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stockrow.com/INVX · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com