INNOVATE Corp.

INNOVATE Corp.

VATEยทNYSE

$17.13

+11%
IndustrialsEngineering & Construction

INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. It provides industrial construction, structural steel, and facility maintenance services for use in commercial, industrial, and infrastructure construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills, and power plants. The company also fabricates trusses and girders; and fabricates and erects water pipe, water storage tanks, tunnel liners, pressure vessels, strainers, filters, separators, and other customized products. In addition, it offers integrated solutions for digital engineering, modeling and detailing, construction, heavy equipment installation, and facility services; and steel and rebar detailing, and BIM modeling and management services, as well as equipment used in the oil, gas, petrochemical, and pipeline industries. Further, the company develops products for early osteoarthritis of the knee, and aesthetic and medical technologies for the skin. Additionally, it operates over-the-air broadcasting stations and Azteca America, a Spanish-language broadcast network. The company was formerly known as HC2 Holdings, Inc. and changed its name to INNOVATE Corp. in September 2021. The company was incorporated in 1994 and is headquartered in New York, New York.

At a Glance

Live Snapshot
Market Cap$233.69M
EPS-4.8400
P/E Ratio-3.54
Earnings Date08/05/2026
INNOVATE Corp.

INNOVATE Corp. Fair Value Envelope

VATE ยท NYSE

Our analysis suggests that VATE has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $17.13, this represents a potential HIDDEN relative to our calculated worth for INNOVATE Corp..

Intrinsic Value
Current Price: $17.13

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$1,285.5B
+ Cash & Equivalents$112.1M
Firm Value$1,285.6B
- Debt$717.5M
Equity Value$1,284.9B
/ Shares Outstanding13,336,149B
DCF Value$96.3K
UNDERVALUED BY 562325%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$293.2M
$586.4M
$1.2B
$2.3B
$4.7B
$9.4B
$18.8B
$37.5B
$75.1B
$150.1B
Maintenance CapEx
-$10.4M
-$20.9M
-$41.8M
-$83.5M
-$167.0M
-$334.1M
-$668.2M
-$1.3B
-$2.7B
-$5.3B
Owner Earnings
$282.8M
$565.5M
$1.1B
$2.3B
$4.5B
$9.0B
$18.1B
$36.2B
$72.4B
$144.8B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$261.8M
$484.8M
$897.9M
$1.7B
$3.1B
$5.7B
$10.6B
$19.6B
$36.2B
$67.1B
Terminal Value represents 88.7% of Enterprise Value