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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM 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
EBITDA margin	4.9%-2.0pp	4.7%-1.8pp	4.3%-2.5pp	4.8%-1.7pp	6.8%+2.1pp
Returns
Return on assets	-5.9%-1.3pp	-6.6%-3.0pp	-7.7%-5.0pp	-8.5%-6.5pp	-4.6%-0.2pp
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×
Inventory turnover	64.3×+22.9×	56.9×+15.3×	46.7×-4.2×	38.9×-16.5×	41.5×-14.2×
Liquidity
Current ratio	0.4×0.0×	0.4×-0.4×	0.4×-0.4×	0.5×-0.9×	0.4×-0.8×
Quick ratio	0.4×0.0×	0.4×-0.3×	0.4×-0.4×	0.4×-0.9×	0.4×-0.8×
Cash ratio	0.1×+0.1×	0.1×0.0×	0×-0.1×	0×-0.2×	0×-0.1×
Leverage
Debt-to-assets	1.5×0.0×	1.4×+0.4×	1.5×+0.4×	1.3×+0.4×	1.4×+0.6×
Net debt / EBITDA	19.3×+2.7×	20.5×+9.0×	27×+16.5×	23.6×+15.5×	16.7×+5.7×
Interest coverage	0.4×-0.1×	0.3×-0.2×	0.2×-0.5×	0.2×-0.6×	0.5×0.0×
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%
Enterprise value	$1.52B+25.8%	$1.27B+41.0%	$1.36B+44.2%	$1.21B+51.7%	$1.32B+65.6%
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×
EV / sales	1.1×-0.1×	1×+0.2×	1.2×+0.5×	1.2×+0.6×	1.2×+0.7×
Earnings yield	-20.8%+90.6pp	-98.2%-45.4pp	-107%-50.5pp	-107.6%-83.0pp	-40.2%+38.4pp
Dividend yield	0.9%-1.6pp	3.6%+1.7pp	2.8%+0.1pp	2.4%+0.9pp	1.2%-1.2pp

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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.