Is Innoviva (INVA) overvalued or fairly valued?

MarketChacha shows Innoviva's valuation in context — a trailing P/E of about 7.2, a forward P/E of about 9.5, a price-to-book of about 1.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Innoviva's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.11×) from reported figures — education, not a rating.

What is Innoviva's revenue?

Innoviva reported revenue of $411.3M for FY2025, with net profit of $271.2M, per official filings.

What is the share price of Innoviva (INVA)?

Innoviva last traded at $21.08 (-1.0% on the day), as of 10/21/2026 — a delayed quote shown for education, not investment advice.

Innoviva

INVA · NYSE · Healthcare · United States

Snapshot

TickerINVA

ExchangeNYSE

SectorHealthcare

IndustryBiotechnology

CountryUnited States

Employees159

HeadquartersBurlingame, United States

Websitewww.inva.com

Filings tracked13

About Innoviva

Innoviva, Inc. operates as a biopharmaceutical company in the United States and internationally. Its royalty portfolio includes RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol, and an inhaled corticosteroid, and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist, umeclidinium bromide, and ABA, VI. The company also markets GIAPREZA for increasing blood pressure in adults with septic or other distributive shock; XACDURO, a co-packaged for intravenous use for the treatment of hospital-acquired and ventilator-associated bacterial pneumonia caused by Acinetobacter; XERAVA for the treatment of complicated intra-abdominal infections in adults; ZEVTERA an advanced-generation cephalosporin antibiotic for the treatment of staphylococcus aureus bacteremia, as well as with right-sided endocarditis, acute bacterial skin and skin structure infections, and community-acquired bacterial pneumonia; NUZOLVENCE for the treatment of uncomplicated urogenital gonorrhea in adults and adolescents. In addition, the company develops bacteriophages with potential use in a range of infectious and other serious diseases. It has a strategic partnership with Sarissa Capital Management LP; and LABA Collaboration Agreement with Glaxo Group Limited to develop and commercialize once-daily products for the treatment of chronic obstructive pulmonary disease and asthma. The company was formerly known as Theravance, Inc. and changed its name to Innoviva, Inc. in January 2016. Innoviva, Inc. was incorporated in 1996 and is headquartered in Burlingame, California.

Who owns it

Insiders1.0%
Institutions99.0%
Public & other0.0%

424 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.15.99%
Dimensional Fund Advisors LP6.22%
Vanguard Portfolio Management LLC5.84%
Renaissance Technologies, LLC5.59%
State Street Corporation4.52%
Vanguard Capital Management LLC4.37%
Millennium Management Llc3.52%
Geode Capital Management, LLC2.87%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 51.4 points over the period — profitability is trending down.

Cash conversion1.11×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend57.9% → 6.5%

Margin has compressed by about 51.4 points over the period — profitability is trending down.

Return on equity23.1%

Latest ROE of 23.1% — capital is generating a healthy return.

Growth qualityrev 15% · PAT 23%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

One-off items1 of last 3 yrs

Recent reported profit includes sizeable one-off / non-operating items — the underlying operating trend may differ from the headline.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $118.4M · EPS 0.52

Next fiscal year

Rev $490.0M · EPS 2.26

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$411.3M

ROE

23.1%

Revenue CAGR (2y)

+15.1%

Profit CAGR (2y)

+22.8%

EPS (FY2025)

3.30

Net profit (FY2025)

$271.2M

Ask MarketChacha about INVA

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$411.3M	$271.2M*	3.30	—	23.1%
FY2024	$358.7M	$23.4M	0.36	6.5%	3.4%
FY2023	$310.5M	$179.7M	2.20	57.9%	—

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$119.6M	$-83.4M	-1.14	-69.8%
2026Q1	$98.0M	$186.6M*	2.22	—
2025Q3	$107.8M	$89.9M*	1.08	—
2025Q2	$100.3M	$63.7M*	0.77	—
2025Q1	$88.6M	$-46.6M	-0.74	-52.6%
2024Q3	$89.5M	$1.2M	0.02	1.4%
2024Q2	$99.9M	$-34.7M	-0.55	-34.7%
2024Q1	$77.5M	$36.5M	0.46	47.1%
2023Q3	$67.3M	$82.0M*	0.98	—
2023Q2	$81.0M	$1.3M	0.02	1.6%
2023Q1	$76.4M	$34.9M	0.42	45.7%

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Results of operations, Exhibits
SEC8/5/2026material
10-Q filing
SEC8/5/2026
8-K — Executive/director change, Exhibits
SEC5/18/2026material
8-K — Results of operations, Exhibits
SEC5/6/2026material
10-Q filing
SEC5/6/2026
8-K — Shareholder vote results
SEC5/4/2026material
10-K/A filing
SEC3/27/2026
10-K filing
SEC2/25/2026
8-K — Results of operations, Exhibits
SEC2/25/2026material

2025

8-K — Results of operations, Exhibits
SEC11/5/2025material
10-Q filing
SEC11/5/2025
8-K — Results of operations, Exhibits
SEC8/6/2025material
10-Q filing
SEC8/6/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.