$17.13
+11%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.
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
VATE โข NYSE
| INNOVATE Corp. Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||||||||||||||
-64M | -39.7M | -35.2M | -42M | -77.6M | -43.6M | -36.1M | 179.9M | -50.5M | -97.4M | -35.8M | -9.5M | 111.6M | 27.9M | -33.3M | -19.2M | 478.2M | -25M | 15.7M | -238M | |
30.4M | 32.9M | 36M | 42.2M | 37.6M | 26.8M | 15.4M | 38.7M | 36.6M | 28.9M | 30.9M | 9M | 24M | 43.2M | 65.1M | 68.4M | 51.7M | 32.8M | 30.6M | 48.2M | |
-100K | 500K | -5.3M | 1.1M | 2M | -4.7M | -28.1M | -2.6M | -10.5M | 27.1M | -13.1M | -31.8M | -522K | 119K | -1.8M | -6.3M | -3.9M | 5.8M | -12.5M | 7.1M | |
2.7M | 3.4M | 0.0 | 2.4M | 0.0 | 0.0 | 6.3M | 9M | 5.2M | 8.3M | 11.1M | 11.5M | 2.3M | 5.2M | 5.2M | 1.6M | 1.2M | 262K | 246K | 545K | |
26.4M | -100K | 2.9M | 6.8M | 114.1M | 47.8M | 111.2M | -213.6M | 10.1M | 39.2M | 18.2M | 11.9M | -138.7M | -47.8M | 20.7M | 9.7M | -477.8M | 20.2M | -20.9M | 202.1M | |
(0.0) | (3.5M) | (0.0) | (5.9M) | (5.4M) | (0.0) | (7.9M) | (13.1M) | (19.2M) | (20.9M) | (1.1M) | (8.8M) | (616K) | (2.3M) | (1.6M) | (3M) | (4M) | (1.9M) | (1.1M) | (0.0) | |
151.2M | 12.1M | 28.1M | -20M | 13.4M | 14.8M | 41.8M | 330M | 15.2M | 73M | -44M | 41.8M | -19M | -5.1M | -13.1M | -17.8M | -20.4M | -25.3M | -1.7M | -7M | |
146.6M | 9.1M | 26.5M | -9.5M | 89.5M | 41.1M | 110.5M | 341.4M | 6.1M | 79.1M | -32.6M | 32.8M | -20.3M | 23.6M | 42.9M | 36.5M | 29M | 8.8M | 11.5M | 12.9M | |
INVESTING ACTIVITIES | ||||||||||||||||||||
-26.1M | -19M | -18.4M | -20.7M | -24.1M | -17.8M | -25.8M | -39.7M | -31.9M | -29M | -21.3M | -5.8M | -12.6M | -31.7M | -31.5M | -26.4M | -15.1M | -25.4M | -44.7M | -33M | |
(0.0) | (0.0) | -14.3M | (0.0) | -54.8M | (125.7M) | -47.2M | (662.3M) | -68.4M | -66.3M | (39.3M) | -181.9M | (270.6M) | (183.1M) | (11M) | (123K) | -77K | (1.1M) | (5.9M) | (12.7M) | |
-300K | -2M | -4M | (0.0) | (0.0) | (0.0) | -1.1B | -1.2B | -341.9M | -239.9M | -54.6M | -33M | (0.0) | (0.0) | (14.2M) | (0.0) | -11.5M | -11.5M | (0.0) | (0.0) | |
2.9M | 0.0 | 59.2M | 0.0 | 0.0 | 86.1M | 872.2M | 331.1M | 300.5M | 186.8M | 12.2M | 2.4M | 0.0 | 0.0 | 4.1M | 0.0 | 11.7M | 17.3M | 0.0 | 0.0 | |
900K | 7.1M | 700K | -1.8M | -220.3M | -94.8M | -2.8M | 6.3M | 2.4M | 8.4M | 9.7M | 1.9M | 87K | -1.6M | -78K | 5.1M | -165K | -102K | -668K | 2.4M | |
-22.6M | -13.9M | (23.2M) | -22.5M | -299.2M | (99.2M) | -263.7M | -224.6M | -139.3M | -140.2M | -14.7M | -216.5M | (258.1M) | (149.7M) | -2.3M | -21.2M | -15.1M | -18.7M | -39.5M | -17.9M | |
FINANCING ACTIVITIES | ||||||||||||||||||||
0.0 | 33.2M | -7M | 0.0 | 100K | 75.2M | 0.0 | 0.0 | 0.0 | 0.0 | 54M | 6M | 1.2M | 124K | 732K | 0.0 | 0.0 | 0.0 | 19.2M | 4.9M | |
-58.3M | -58.2M | -39.9M | 74M | 29.5M | -186M | 59.4M | 153.6M | 135.3M | 33.8M | 34.8M | 226.2M | -128M | -120.8M | -33.3M | -13.9M | -8.1M | -28.1M | 28.9M | 23.4M | |
-2.2M | -1.2M | -2.2M | -5.2M | (0.0) | (0.0) | (0.0) | -2M | -3.6M | -4.2M | -5.7M | -1.6M | -121M | -55.4M | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
(0.0) | (0.0) | -7M | (0.0) | -10.4M | (0.0) | -8.3M | -5.8M | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | -378K | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
-700K | -300K | -300K | -700K | -11.8M | -30.8M | 2.4M | -30.6M | -16.3M | -10.8M | 6.1M | -10.3M | -2.2M | -15.1M | -6.1M | 0.0 | -4.6M | 0.0 | -6.6M | 0.0 | |
-61.2M | -26.5M | -49.4M | 68.1M | 17.8M | -141.6M | 62.4M | 115.2M | 115.3M | 18.8M | 103.2M | 284.6M | -250.1M | -191.1M | -38.8M | -13.9M | -12.7M | -28.1M | 41.5M | 25.5M | |
CASH FLOW SUMMARY | ||||||||||||||||||||
600K | -1.7M | 700K | -1.4M | 194.1M | -147.1M | 1M | -500K | 284K | -971K | -5.2M | -2M | -1.9M | -25K | -2.3M | -2.4M | 4.3M | -6.3M | 3.5M | 849K | |
63.4M | -33M | 1M | 34.7M | 2.2M | -148.4M | -90.9M | 231.5M | -17.5M | -43.3M | 50.6M | 99M | -14.2M | -17.9M | -482K | -1M | 5.5M | -44.3M | 17M | 21.3M | |
49.3M | 82.3M | 80.7M | 47.5M | 45.3M | 193.7M | 321.3M | 98.9M | 115.4M | 158.6M | 108M | 9M | 23.2M | 41.1M | 41.5M | 42.5M | 78.5M | 81.3M | 64.3M | 43M | |
112.7M | 49.3M | 81.7M | 82.2M | 47.5M | 45.3M | 230.4M | 330.4M | 97.9M | 115.4M | 158.6M | 108M | 9M | 23.2M | 41.1M | 41.5M | 84M | 37M | 81.3M | 64.3M | |
120.5M | -9.9M | 8.1M | -30.2M | 65.4M | 23.3M | 84.7M | 301.7M | -25.8M | 50.1M | -53.9M | 27M | -32.9M | -8.2M | 11.4M | 10.1M | 13.9M | -16.7M | -33.3M | -20.1M |
VATE - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | June 01, 2026 | May 29, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | May 14, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 14, 2026 | May 14, 2026 | 2026 | |
DEF 14A DEF 14A 2025 N/A | April 28, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | April 06, 2026 | April 06, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 31, 2026 | March 31, 2026 | 2026 | |
10-K 10-K 2025 FY FY | March 26, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | March 26, 2026 | March 26, 2026 | 2026 | |
8-K 8-K 2026 N/A | February 10, 2026 | February 10, 2026 | 2026 | |
8-K 8-K 2026 N/A | February 02, 2026 | February 02, 2026 | 2026 |
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