Where do Innovate's ratios come from?

Every ratio is computed from Innovate's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Innovate VATE Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	15.5%-3.8pp	16%-2.8pp	17%-1.1pp	18.7%+1.5pp	19.3%+3.7pp
Operating margin	2.6%-1.2pp	2.3%-1.3pp	1.5%-2.6pp	1.7%-2.4pp	3.8%+1.5pp
Net margin	-4%0.0pp	-4.9%-1.7pp	-6.3%-4.1pp	-7.6%-6.2pp	-3.9%-0.8pp
Returns
Return on invested capital	3.5%-1.7pp	3.5%-3.0pp	1.9%-5.0pp	2.3%-5.6pp	5.2%-0.3pp
Efficiency
Asset turnover	1.5×+0.3×	1.4×+0.2×	1.2×0.0×	1.1×-0.3×	1.2×-0.3×
Liquidity
Current ratio	0.4×0.0×	0.4×-0.4×	0.4×-0.4×	0.5×-0.9×	0.4×-0.8×
Leverage
Net debt / EBITDA	19.3×+2.7×	20.5×+9.0×	27×+16.5×	23.6×+15.5×	16.7×+5.7×
Per Share
Book value per share	-$19.21-23.3%	-$18.17-7.7%	-$17.59-39.8%	-$17.10-65.6%	-$15.57+33.6%
Valuation
Market capitalization	$254.69M+274%	$61.72M-5.8%	$65.21M+35.0%	$70.53M-10.2%	$103.84M+87.0%
Price / sales	0.2×+0.1×	0×0.0×	0.1×0.0×	0.1×0.0×	0.1×+0.1×
EV / EBITDA	23.2×-1.8×	21.6×+9.2×	28.4×+17.3×	25.1×+16.1×	18.1×+6.3×
Dividend yield	0.9%-1.6pp	3.6%+1.7pp	2.8%+0.1pp	2.4%+0.9pp	1.2%-1.2pp

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Questions, answered.

Where do Innovate's ratios come from?: Every ratio is computed from Innovate's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.