Innovex International, Inc. INVX

Industrials SIC 3533 - Oil & Gas Field Machinery & Equipment NAICS Manufacturing › Machinery Manufacturing › Agriculture, Construction, and Mining Machinery Manufacturing › Mining and Oil and Gas Field Machinery Manufacturing › Oil and Gas Field Machinery and Equipment Manufacturing derived NYSE

Innovex designs, manufactures, sells and rents mission critical engineered products to the global oil and natural gas industry. Our vision has been to create a global leader in well-centric products and technologies through organic, customer-linked innovations and disciplined acquisitions to drive leading returns for our investors.

On September 6, 2024, the transactions contemplated in the Merger Agreement, dated as of March 18, 2024 (the "Merger Agreement"), between Innovex Downhole Solutions, Inc. ("Legacy Innovex") and Dril-Quip, Inc. ("Dril-Quip") (the "Merger") were consummated. Following the Merger, Legacy Innovex became a wholly owned subsidiary of Dril-Quip, and the name "Dril-Quip, Inc." was changed to "Innovex International, Inc.". In connection with the consummation of the Merger, the outstanding shares of common stock, par value $0.01 per share, of Legacy Innovex (the "Legacy Innovex Common Stock") were converted into the right to receive 32,183,966 shares of common stock, par value $0.01 per share, of the Company (the "Company Common Stock"). The number of shares of Company Common Stock received for each share of Legacy Innovex Common Stock by the Legacy Innovex stockholders was equal to 2.0125.

Last close 29.91 2026-10-23
Market cap $2.09B 2026-06-30 share count
52-week range 19.07 - 33.71

Valuation FY2025 figures against the last close

P/S2.1x
P/E24.9x
P/FCF11.0x
EV/EBITDA10.8x
Dividend yield0.0%
Diluted EPS1.20

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $978.3M$660.8M$555.5M$467.2M$322.4M$334.4M$414.8M$384.6M$455.5M$538.7M
Cost of revenue $675.0M$428.2M$360.1M$309.1M$309.3M$269.7M$295.0M$293.6M$330.2M$328.4M
Gross profit $303.3M$232.6M$195.4M$158.1M$13.2M$64.7M$119.8M$91.1M$125.2M$210.3M
R&D $6.7M$3.7M$3.0M$2.5M——————
SG&A $128.8M$116.2M$72.8M$59.2M$115.0M$95.1M$98.4M$102.1M$113.6M$53.2M
Total operating expenses ——$418.8M$361.5M$447.8M$428.5M$412.0M$507.4M$524.6M$425.9M
Operating income $132.6M$49.1M$97.3M$75.8M-$125.3M-$63.6M$2.8M-$122.7M-$69.1M$112.9M
Interest expense $2.6M$2.4M$5.5M$4.0M$212.0K$621.0K$314.0K$291.0K$72.0K$28.0K
Pre-tax income $128.5M$142.8M$94.4M$72.9M-$125.5M-$62.0M$10.4M-$115.0M-$65.6M$115.9M
Income tax $45.2M$2.5M$20.4M$9.7M$2.9M$31.3M$8.7M$19.3M$35.0M$22.6M
Net income $83.3M$140.3M$73.9M$63.3M-$128.5M-$30.8M$1.7M-$95.7M-$100.6M$93.2M
EPS, basic 1.212.822.392.07-3.63-0.870.05-2.58-2.692.48
EPS, diluted 1.202.772.292.01-3.63-0.870.05-2.58-2.692.47
Shares, diluted (wtd. avg.) 69.4M50.6M32.3M31.4M35.3M35.3M36.2M37.1M37.5M37.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $203.4M$73.3M$7.4M$259.4M$355.5M$346.0M$398.9M$418.1M$493.2M$423.5M
Short-term investments ——$25.9M$32.2M$0—————
Receivables $237.8M$239.5M$118.4M$90.9M$100.5M$116.2M$107.6M$118.7M$191.6M$213.5M
Inventory $248.4M$271.2M$141.2M$146.0M$145.7M$212.5M$205.1M$191.2M$291.1M$355.4M
Total current assets $728.0M$641.4M$288.3M$750.0M$745.1M$863.2M$880.5M$853.0M$1.01B$1.06B
Property, plant and equipment $158.9M$190.8M$52.4M$181.3M$216.2M$234.8M$258.5M$274.1M$284.2M$323.1M
Goodwill $99.7M$60.2M$23.9M$23.9M——$7.9M$7.7M$47.6M$34.4M
Other intangibles $116.2M$108.4M$41.8M$23.3M$26.4M$29.4M$32.2M$35.0M$38.4M$29.6M
Total assets $1.27B$1.20B$475.3M$970.0M$1.01B$1.15B$1.21B$1.19B$1.40B$1.46B
Accounts payable $60.7M$65.2M$32.0M$43.0M$35.2M$37.4M$46.3M$26.7M$33.5M$36.1M
Total current liabilities $148.2M$162.7M$78.6M$87.6M$93.7M$85.5M$96.9M$81.5M$99.9M$101.5M
Long-term debt —$25.4M————————
Total liabilities $210.6M$239.3M$146.4M$97.6M$113.3M$109.6M$115.9M$96.3M$105.3M$105.0M
Retained earnings $285.3M$211.2M$145.9M$950.2M$973.1M$1.13B$1.18B$1.21B$1.40B$1.50B
Total equity $1.06B$958.2M$328.9M$251.3M$180.6M$1.04B$1.09B$1.10B$1.29B$1.36B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $190.9M$93.4M$75.9M-$5.8M$38.4M-$21.1M$14.7M$45.5M$108.0M$246.5M
Depreciation and amortisation $60.7M$31.2M$22.7M$18.5M$30.4M$32.4M$34.0M$35.3M$41.0M$31.9M
Stock-based compensation $13.8M$13.2M$2.0M$907.0K$14.9M$12.9M$15.7M$13.5M$14.3M$12.2M
Capital expenditure ——$32.6M$18.9M$10.0M$11.9M$11.5M$32.1M$27.6M$25.8M
Investing cash flow -$18.7M$78.4M-$32.4M-$37.5M-$3.2M-$5.6M-$8.5M-$15.2M-$44.9M-$157.8M
Financing cash flow -$44.9M-$103.1M-$44.6M$42.3M-$24.3M-$25.2M-$24.6M-$99.2M$560.0K-$21.9M
Dividends paid $0$75.0M$0$0——————
Buybacks ——$0$20.8M$24.2M$25.0M$26.6M$100.0M$0$24.2M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-067228.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B Revenue, FY2016: 538.7M Gross profit, FY2016: 210.3M Net income, FY2016: 93.2M Revenue, FY2017: 455.5M Gross profit, FY2017: 125.2M Net income, FY2017: -100.6M Revenue, FY2018: 384.6M Gross profit, FY2018: 91.1M Net income, FY2018: -95.7M Revenue, FY2019: 414.8M Gross profit, FY2019: 119.8M Net income, FY2019: 1.7M Revenue, FY2020: 334.4M Gross profit, FY2020: 64.7M Net income, FY2020: -30.8M Revenue, FY2021: 322.4M Gross profit, FY2021: 13.2M Net income, FY2021: -128.5M Revenue, FY2022: 467.2M Gross profit, FY2022: 158.1M Net income, FY2022: 63.3M Revenue, FY2023: 555.5M Gross profit, FY2023: 195.4M Net income, FY2023: 73.9M Revenue, FY2024: 660.8M Gross profit, FY2024: 232.6M Net income, FY2024: 140.3M Revenue, FY2025: 978.3M Gross profit, FY2025: 303.3M Net income, FY2025: 83.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $538.7M $455.5M $384.6M $414.8M $334.4M $322.4M $467.2M $555.5M $660.8M $978.3M
Gross profit $210.3M $125.2M $91.1M $119.8M $64.7M $13.2M $158.1M $195.4M $232.6M $303.3M
Net income $93.2M -$100.6M -$95.7M $1.7M -$30.8M -$128.5M $63.3M $73.9M $140.3M $83.3M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Unregistered share sale Item 3.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed Item 1.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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