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Innovex International, Inc.
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High 💎 VCP Breakout | BRS 81 Ready · stale View all →
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$2.0B
Market Cap
18.2
P/E
1.90
PEG
7.8%
ROCE
8.3%
ROE
0.08
D/E
11.6%
OPM
-8.9%
% from 52W High
85
α RS
🔍 INVX is showing a high-conviction setup because it matches 6 of 39 tracked screener presets, RS Rating is 85, it's within 8.9% of its 52-week high, and it has maintained a 5-day Near 52-Week High momentum persistence. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating 52W High Momentum Streaks
Sources
Conviction 6/39 · RS Rating 85 · 8.9% from 52W high · Near 52-Week High streak: 5d
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🌏 Global Investor Returns
Currency-adjusted total returns for INVX including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Innovex International, Inc. designs, manufactures, sells, and rents mission critical engineered products to the oil and natural gas industry worldwide. It provides drilling enhancement tools to optimize drilling performance, increase rate of penetration, and mitigate downhole challenges; and fishing and intervention which supports workover, intervention, drilling and completion activities, as well as manufactures and sells products including external catch tools, internal catch tools, and other related fishing and remedial tools. The company also offers well production solutions comprising products and services that enable artificial lift in wells and provides artificial lift accessory products and services, as well as wellhead penetrators, tubing hangers and adapters, ESP cable management, and spooling services; service, mileage, and others; subsea equipment and engineered systems for offshore applications, including subsea wellheads, subsea connectors, casing connectors, deepwater centralization solutions, and diverter systems; and surface wellhead systems. In addition, it provides well completion portfolio comprising products used to enable a well to be stimulated and put on production, such as liner hanger systems, toe initiation products, frac plugs, completion packers, casing flotation products, and related completion accessories; and well construction portfolio that consists of products designed to ensure the structural integrity of the wellbore. Further, the company offers products utilized to support effective cement placement between the wellbore and casing. It sells and rents its products to international and national oil companies, independent exploration and production companies, and multinational service companies. Its products have applications in the onshore and offshore oil and natural gas wells, including well construction, well completion, and well production and intervention. The company was founded in 2016 and is headquartered in Humble, Texas.

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📊 MIXED Q1 2026: Revenue $239M, Adj. EBITDA $49M (21% margin), strong execution
Revenue & Profitability
First quarter 2026 revenue was $239 million, down 13% sequentially from Q4 2025 and down 1% year-over-year. Adjusted EBITDA was $49 million (21% margin), exceeding the high end of guidance. Free cash flow was $14 million (28% conversion of adjusted EBITDA). The company ended the quarter with $201 million cash and no bank debt.
Outlook
Management sees a growing pipeline of subsea opportunities and expects significant subsea momentum in the back half of 2026. U.S. Land activity is expected to tick up modestly through year-end, while international/offshore activity is constructive long-term despite near-term Middle East conflict disruptions. The company's Q2 2026 guidance assumes revenue of $235-$245 million and adjusted EBITDA of $43-$48 million.
Growth Drivers
Key growth drivers include U.S. Land share gains through cross-selling and new product introductions, subsea expansion via large project awards in Asia (each >$20 million), and the Middle East recovery with offshore awards in Saudi Arabia and a contract extension for off-bottom liner systems. The DIS acquisition is expected to strengthen the completions offering in U.S. offshore and global deepwater markets. Organic growth also benefits from the exit of the legacy Eldridge facility improving manufacturing efficiency.
Balance Sheet & CapEx
Capital expenditures in Q1 2026 were $6 million, or 2.4% of revenue, within the company's historical 2%-3% range. The company continues to invest in facility integration, notably exiting the Eldridge facility by mid-2026. No specific future CapEx guidance was provided beyond the low capital intensity model.
Margins
Adjusted EBITDA margin in Q1 2026 was 21%, well above guidance, driven by favorable product mix and improved manufacturing efficiency from the Eldridge facility transition. Management expects margins to be consistently north of 20% in the back half of 2026. Q2 margin is anticipated to be lower due to less favorable mix and Middle East-related cost headwinds. Operating leverage continues to improve as the company consolidates its footprint.
Key Risks
Management flagged a $49 million legal accrual related to patent infringement litigation (with intention to appeal), near-term sales disruptions and higher costs from the ongoing Middle East conflict, and quarterly revenue volatility in offshore and project-oriented markets. The company also highlighted a dynamic operating environment that can affect activity levels.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-04
Q2 2026 results exceeded guidance with $245M revenue and $48M adjusted EBITDA, driven by strong subsea and international growth. The TCO acquisition enhances technology and market reach, while robust cash flow and a strong balance sheet support continued disciplined expansion.
Q1 2026 Q1 2026 2026-05-05
Q1 2026 results exceeded guidance with $239M revenue and 21% EBITDA margin, driven by strong execution, subsea wins, and the DIS acquisition. Guidance for Q2 reflects ongoing Middle East disruptions, but margin improvement is expected in the second half of 2026.
Q4 2025 Q4 2025 2026-02-24
Q4 2025 results exceeded guidance with strong revenue and free cash flow, driven by subsea deliveries and market share gains. Integration of recent acquisitions and disciplined capital allocation support a positive outlook, with margin improvement expected as legacy projects roll off.
Q3 2025 Q3 2025 2025-11-04
Q3 2025 saw strong revenue growth, high free cash flow, and successful Citadel integration, despite margin pressure from integration costs and tariffs. Exclusive OneSubsea agreement and facility consolidation set the stage for margin expansion and long-term growth, with a robust M&A pipeline and strong cash position.
Q3 2024 Q3 2024 2024-11-08
Q3 revenue rose 9% year-over-year to $152M, driven by the Dril-Quip merger, while Adjusted EBITDA fell to $27.4M due to integration costs and accounting changes. Achieved $15M in annualized cost synergies, with Q4 guidance projecting $220–$230M in revenue and $35–$40M in Adjusted EBITDA.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Information Sources:
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