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INVX

Innovex International, Inc.

INVX

Innovex International, Inc. • NYSE
$22.02 ▼ -1.48% (-0.33)
Market Cap $1.52 B
52w High $22.99
52w Low $11.93
Dividend Yield 0%
P/E 34.41
Volume 118.41K
Outstanding Shares 68.92M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $240M ▲ $35.574M ▼ $39.228M ▲ 16.345% ▲ $0.57 ▲ $79.154M ▲
Q2-2025 $224.234M ▼ $49.024M ▼ $15.345M ▲ 6.843% ▲ $0.22 ▲ $40.8M ▲
Q1-2025 $240.415M ▼ $54.654M ▼ $14.757M ▼ 6.138% ▼ $0.21 ▼ $39.942M ▼
Q4-2024 $250.687M ▲ $57.958M ▼ $31.788M ▼ 12.68% ▼ $0.47 ▼ $42.38M ▼
Q3-2024 $151.817M $65.897M $82.586M 54.398% $2.03 $90.482M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $168.842M ▲ $1.254B ▲ $214.956M ▼ $1.039B ▲
Q2-2025 $68.781M ▲ $1.227B ▲ $231.528M ▲ $995.553M ▲
Q1-2025 $68.116M ▼ $1.196B ▼ $217.627M ▼ $978.376M ▲
Q4-2024 $73.278M ▼ $1.197B ▲ $239.327M ▲ $958.156M ▲
Q3-2024 $99.895M $1.133B $228.432M $904.351M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $39.228M ▲ $48.374M ▼ $77.555M ▲ $-31.177M ▼ $94.593M ▲ $36.522M ▼
Q2-2025 $15.345M ▲ $59.21M ▲ $-62.872M ▼ $2.442M ▲ $665K ▲ $51.913M ▲
Q1-2025 $14.757M ▼ $31.09M ▼ $-23.466M ▲ $-13.399M ▼ $-5.162M ▲ $24.034M ▼
Q4-2024 $31.788M ▼ $36.345M ▲ $-71.954M ▼ $11.14M ▲ $-26.617M ▼ $28.718M ▲
Q3-2024 $82.586M $21.722M $153.715M $-85.29M $89.539M $20.051M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past few years after a softer period in 2020–2021, showing that demand for Innovex’s products and services has improved. Profitability has moved from losses into clearly positive territory, with healthier margins than earlier in the decade. That said, operating profit dipped slightly most recently despite higher sales, suggesting integration costs, pricing pressure, or mix shifts may be weighing on margins. Net income has become consistently positive, but the per‑share results look volatile, likely reflecting changes in share count or merger effects rather than just business performance. Overall, the income statement now looks solid and growing, but still in a phase of optimization rather than fully “settled” profitability.

Balance Sheet

Balance Sheet The balance sheet shows a much larger asset base and equity position following the merger, indicating a scaled‑up platform and stronger capital base. Debt remains relatively modest compared with total assets and equity, which limits financial risk and gives some flexibility. Cash levels, while better than in prior years, still look relatively lean for a company of this size and complexity, so liquidity management remains important. The overall picture is of a stronger, better-capitalized company, but one that still needs disciplined balance sheet management as it integrates acquisitions and grows internationally.

Cash Flow

Cash Flow Cash generation has improved meaningfully. The business has moved from burning cash a few years ago to producing positive operating and free cash flow more recently. Capital spending remains modest, consistent with a capital‑light model, which helps most of the cash generated drop through to free cash flow. The track record of strong cash flow is still relatively short, so its durability through industry cycles has yet to be fully proven, but recent trends are encouraging and aligned with management’s emphasis on efficiency and returns.

Competitive Edge

Competitive Edge Innovex now combines Dril‑Quip’s long-standing offshore reputation with Innovex Downhole’s onshore strengths, giving it a broad offering across the entire life of a well. This integrated, “one‑stop” position, along with a portfolio of patented, mission‑critical technologies, creates meaningful barriers to entry. Its focus on demanding deepwater and harsh‑environment work places it in more specialized, higher‑margin niches rather than the most commoditized parts of the oilfield services market. A global footprint and strong customer relationships further support its standing. The main risks are successful post‑merger integration, execution in new regions, and sensitivity to oil and gas spending cycles, especially for offshore projects.

Innovation and R&D

Innovation and R&D Innovation is a clear centerpiece of Innovex’s strategy. The company controls a range of proprietary technologies, from wellhead and subsea systems to advanced centralizers and artificial lift tools. Flagship offerings like SubZERO centralizers still have relatively low market penetration, leaving substantial room for organic growth if adoption accelerates. Engineering depth, a culture that emphasizes fast, customer‑driven decision‑making, and ongoing product development in harsh‑environment applications help sustain its technological edge. Partnerships and targeted acquisitions further extend its capabilities, but continued investment and disciplined prioritization are essential to maintain this lead in a rapidly evolving energy landscape.

Summary

Innovex has transitioned from a smaller, more volatile business into a larger, more profitable, and better‑capitalized platform following its merger. Revenues and profits are trending upward, cash flow is now positive and improving, and leverage is restrained. At the same time, the company is still digesting a major integration, faces cyclical end markets, and needs to prove it can sustain margins and cash generation across cycles. Its competitive advantages rest on proprietary technologies, global reach, and a full‑lifecycle offering, all supported by a capital‑light model. Execution on integration, international expansion, and broader adoption of key technologies will be central to how its financial and strategic profile evolves from here.

NEWS

November 3, 2025 · 4:30 PM UTC

Innovex Announces Third Quarter 2025 Results

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October 24, 2025 · 9:00 AM UTC

Innovex International, Inc. Schedules Third Quarter 2025 Earnings Release and Conference Call

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September 24, 2025 · 7:30 AM UTC

Innovex Completes Sale of Dril-Quip Eldridge Facility

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September 16, 2025 · 9:14 AM UTC

Innovex Named Exclusive Wellhead Partner for OneSubsea

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