InnovAge Holding Corp.
$7.22
-1.9%InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in their homes and communities. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. The company offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to the PACE center and third-party medical appointments; and care management. It serves approximately 6,850 PACE participants in the United States; and operates 18 PACE centers in Colorado, California, New Mexico, Pennsylvania, and Virginia. The company was formerly known as TCO Group Holdings, Inc. and changed its name to InnovAge Holding Corp. in January 2021. InnovAge Holding Corp. was founded in 2007 and is headquartered in Denver, Colorado.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -16.5).
Valuation inputs: P/E -16.5, earnings yield N/A, momentum -1.9%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE -12.9%, ROIC -7.4%).
Profitability stack: net margin -3.5%, ROE -12.9%, ROIC -7.4%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +52.8%, momentum -1.9%, net margin -3.5%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
InnovAge Holding Corp. Market vs Earnings Trajectory
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InnovAge Holding Corp. Fair Value Envelope
InnovAge Holding Corp. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
InnovAge Holding Corp. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
InnovAge Holding Corp. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Acceptable liquidity, but monitor closely. Current assets just barely cover current liabilities.
Debt-to-Equity Ratio
Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.
Working Capital
Positive working capital, but relatively tight. The company should monitor cash flow carefully.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
InnovAge Holding Corp. Street Expectations Map
Wall Street analysts project that INNV stock may see slight declines over the coming 12 months. The consensus 1-year price target stands at 6.80, with estimates ranging from a low of 5.00 to a high of 8.00.
The consensus 1-year price target stands at 6.80, with estimates ranging from a low of 5.00 to a high of 8.00.
Analyst Consensus Analysis
Upside Potential
Downside risk. Current price above analyst targets indicates potential overvaluation. Exercise caution and review catalysts.
Analyst Agreement
Mixed analyst views. Wide target range suggests differing opinions on key value drivers, growth prospects, or risk factors.
Risk-Reward Profile
Unfavorable risk-reward. Downside risk exceeds upside potential. Consider defensive positioning or alternative opportunities.
Analyst Conviction
Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.
Market Sentiment Insight
Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.
InnovAge Holding Corp. Insider Positioning
During the last 12 months, insiders have sold $410K worth of INNV shares, with no buying activity reported.
3 Months
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3-6 Months
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6-9 Months
0
0.00
33.0K
161.70K
-162K
-$162K
9-12 Months
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0.00
64.4K
248.11K
-248K
-$248K
Top Buyers
No buying activity
Top Sellers
Scarbrough Michael Anthony
Officer: President And Coo
$162K
Damato Nicole
Officer: Chief Legal Officer
$141K
Blair Patrick T
Officer: Chief Executive Officer
$107K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $410K net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Insider Participation
3 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
innv Dividend History
Learning Layer
Related Guides
Build conviction on INNV by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.