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VATE · NYSE · United States · Fabricated Structural Metal Products
In shortINNOVATE Corp. is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 2.3% | 24/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -4.9% | 1/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | – | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 6.3% | 42/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.44× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 8.30× | 0/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 0.32× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -6.04 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 11.7% | 67/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 3 of 5 | 50/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 36.8% | 0/100 |
| Operating margin volatility | 1.7% | 94/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -8.7% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 1,205 | 1,637 | 1,423 | 1,107 | 1,246 |
| Cost of revenue | 1,022 | 1,416 | 1,207 | 898 | 1,046 |
| Gross profit | 184 | 221 | 216 | 209 | 200 |
| Selling, general & admin | 168 | 180 | 168 | 160 | 153 |
| Operating income | (11) | 13 | 27 | 40 | 29 |
| Interest expense | 59 | 52 | 68 | 75 | 89 |
| Pre-tax income | (81) | (41) | (34) | (33) | (62) |
| Income tax | 5.6 | 0.9 | 4.5 | 6.3 | 2.5 |
| Net income | (228) | (36) | (35) | (35) | (61) |
| Diluted EPS | −$2.98 | −$0.53 | −$4.81 | −$3.08 | −$4.84 |
| Diluted shares (millions) | 77 | 78 | 7.8 | 11 | 13 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of INNOVATE Corp. are included in the Investor plan. Try free for 7 days →
−6.04 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 6, 2026