Innovex International, Inc. (INVX) Stock

Innovex International, Inc. (INVX) is a Industrials stock trading at $29.14 (as of 2026-08-20), with a market capitalization of $2.04B and a trailing P/E of 33.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Innovex International, Inc. engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.

Understand Innovex International, Inc.: how it makes money

Innovex International provides oil and gas solutions for onshore and offshore applications, generating revenue from subsea products and services, along with international and offshore and lease revenue.

With gross margin of 35.4% but an operating margin of -9.1% (loss), the profit model is structurally dependent on converting gross profit into operating profit, meaning operating expense control and revenue scaling are critical.

Revenue by segment (latest quarter)
IntlOff$0.1B
SubseaProd$0.1B
SubseaServ$0.0B
Lease$0.0B

Business quality (Weak): The provided quarter shows positive gross margin, but operating results are negative, so the key question is whether management can turn product and service revenue into operating earnings.

Valuation: At 34× earnings, INVX trades in line with the Machinery average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Subsea Products Revenue is a meaningful contributor (0.07B) and there is a measurable pipeline signal via Subsea Products Orders Booked (0.05B): This supports the idea that subsea demand and product monetization are both present in the reported period.
  • Execution metrics indicate relatively high delivery performance, with Subsea Product Line On-Time Delivery at 80% and On-Time Delivery at 76%: Higher delivery consistency can support repeatability of revenue generation for product and service work.

Bear case

  • Operating margin is negative (-9.1%) despite positive gross margin (35.4%): This indicates operating costs and/or other operating items are overwhelming gross profit, so profitability is under pressure.
  • Working capital signal is elevated, with Days Sales Outstanding at 83: Longer collection cycles can strain cash flow even when gross margin is positive.
Valuation — source: SEC EDGAR (first-party)
Price$29.14
Market Cap$2.04B
P/E Ratio33.1
EV / EBITDA11.1
Price / Book1.93
Price / Sales2.04
DCF Value (model)$21.60
DCF Upside vs Price-25.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$978.25M
Net Margin8.5%
Revenue Growth (YoY)9.2%
EPS Growth (YoY)63.6%
Financial Health — source: SEC EDGAR
Altman Z-Score7.72 (safe)
Valuation vs Sector & Industry
Stock P/E33.1
Sector P/E (Industrials)25.9
Industry P/E (Machinery)32.3
vs Sector27.9%
vs Industry2.5%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBRANDES INVESTMENT PARTNERS, LP ($160.57M)
Institutional Holders Tracked10
Company
SectorIndustrials
IndustryMachinery
CEOAdam Anderson
Employees2,683
CountryUS
IPO Date1997-10-23

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INVX earnings history · INVX institutional & insider holders · INVX KPIs & operating metrics · INVX financials · INVX investor presentations & press releases · INVX SEC filings · INVX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.