Indivior PLC (INDV)
NASDAQ:INDV
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Indivior
(NASDAQ:INDV)
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Rating:58Neutral
Price Target:
$33.00
▲(3.32% Upside)
Action:ReiteratedDate:03/18/26
The score is held back primarily by weaker financial quality (negative equity and inconsistent/negative cash flow despite improved profitability) and bearish technicals. Offsetting these, the latest earnings call guidance points to strong 2026 EBITDA and operating cash flow improvement, while valuation appears mid-range with no dividend support.
Positive Factors
Market leadership in long‑acting injectable (SUBLOCADE)
SUBLOCADE is a high-growth, market-leading LAI for opioid use disorder with strong prescriber and new‑patient adoption and DTC support. Durable commercial momentum and rising dispense units create a stable, recurring revenue base that can sustain margins and fund strategic priorities over multiple years.
Negative Factors
Negative shareholders' equity
Persistent negative equity signals past accumulated losses or accounting adjustments that constrain balance‑sheet resilience. It can limit financing choices, complicate covenants or M&A, and amplify risk during downturns despite recent debt reduction, making capital planning and investor confidence more fragile.
Read all positive and negative factors
Positive Factors
Negative Factors
Market leadership in long‑acting injectable (SUBLOCADE)
SUBLOCADE is a high-growth, market-leading LAI for opioid use disorder with strong prescriber and new‑patient adoption and DTC support. Durable commercial momentum and rising dispense units create a stable, recurring revenue base that can sustain margins and fund strategic priorities over multiple years.
Read all positive factors
Indivior (INDV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.04B
Dividend YieldN/A
Average Volume (3M)3.22M
Price to Earnings (P/E)21.4
Beta (1Y)0.64
Revenue Growth-0.25%
EPS GrowthN/A
CountryUS
Employees1,030
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)N/A
Shares Outstanding125,065,240
10 Day Avg. Volume1,656,490
30 Day Avg. Volume3,222,328
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)-45.77
Price to Sales (P/S)3.62
P/FCF Ratio-48.23
Enterprise Value/Market Cap1.04
Enterprise Value/Revenue3.38
Enterprise Value/Gross Profit4.20
Enterprise Value/Ebitda13.91
Forecast
1Y Price Target
$50.67Price Target Upside58.64% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)3.12
Revenue Forecast (FY)$1.16B
Indivior Business Overview & Revenue Model
Company Description
Indivior Pharmaceuticals Inc is a holding company, which engages in the development, manufacture and sale of buprenorphine-based prescription drugs for treatment of opioid dependence. Its products include Suboxone Film, Suboxone Tablet, and Subute...
How the Company Makes Money
Indivior primarily makes money by selling prescription medicines, with revenue recognized from product sales to wholesalers, specialty distributors, pharmacies, and other healthcare supply-chain customers (depending on market). Its key revenue str...
Indivior Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call presented multiple meaningful achievements: record SUBLOCADE and company revenues, strong adjusted EBITDA growth and margin expansion, clear commercial momentum (prescriber and new patient growth), disciplined cost targets, improved cash flow guidance, and a $400 million opportunistic buyback. Offsets include expected U.S. SUBOXONE pressure, rest-of-world optimization impacts, restructuring charges, gross-to-net volatility, reliance on SUBLOCADE for growth, and some R&D and debt-related uncertainties. On balance, the progress, upgraded profitability guidance, and capital deployment flexibility outweigh the risks and challenges discussed.Positive Updates
Record Company Revenue and Year-over-Year Growth
Total net revenue for 2025 was $1.24 billion, up 4% versus 2024; fourth quarter net revenue was $358 million, up 20% year-over-year.
Negative Updates
Guidance Driven by SUBOXONE Pressure and Other Offsets
2026 midpoint guidance shows a modest decline in total net revenue versus 2025, primarily due to expected U.S. SUBOXONE Film revenue pressure from generics, lower rest-of-world net revenue from prior optimization, and continued runoff of PERSERIS.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Company Revenue and Year-over-Year Growth
Total net revenue for 2025 was $1.24 billion, up 4% versus 2024; fourth quarter net revenue was $358 million, up 20% year-over-year.
Read all positive updates
Company Guidance
For 2026 the company guided total net revenue of $1.125–$1.195 billion and SUBLOCADE net revenue of $905–$945 million (≈+8% at the midpoint vs. 2025), driven by an expected acceleration to mid‑teens U.S. SUBLOCADE dispense unit growth (vs. 7% in 2025); non‑GAAP operating expenses are forecast at $430–$450 million (management said operating expenses will not exceed $450M), adjusted EBITDA $535–$575 million (≈+30% at the midpoint vs. 2025) implying roughly a 48% adjusted EBITDA margin at the midpoint (a ~13 percentage‑point expansion), and cash flow from operations of about $300+ million; capital priorities include managing debt, an opportunistic $400 million share repurchase program (up to 18 months), and selective business development, with 2025 year‑end cash & investments of $222 million and net leverage below 1x.Indivior Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
38
Negative
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.24B | 1.19B | 1.09B | 901.00M | 791.00M |
| Gross Profit | 994.00M | 957.00M | 919.00M | 750.00M | 664.00M |
| EBITDA | 304.00M | 84.00M | -99.00M | -46.00M | 238.00M |
| Net Income | 210.00M | 2.00M | -129.00M | -44.00M | 205.00M |
Balance Sheet | |||||
| Total Assets | 1.20B | 1.32B | 1.76B | 1.78B | 1.83B |
| Cash, Cash Equivalents and Short-Term Investments | 195.00M | 320.00M | 410.00M | 897.83M | 1.10B |
| Total Debt | 351.00M | 375.00M | 283.00M | 277.00M | 286.00M |
| Total Liabilities | 1.30B | 1.67B | 1.96B | 1.73B | 1.63B |
| Stockholders Equity | -98.00M | -348.00M | -191.00M | 51.28M | 203.00M |
Cash Flow | |||||
| Free Cash Flow | -93.00M | 7.00M | -353.00M | -9.00M | 319.00M |
| Operating Cash Flow | -27.00M | 36.00M | -300.00M | -4.00M | 353.00M |
| Investing Cash Flow | -66.00M | 69.00M | -95.00M | -222.00M | -14.00M |
| Financing Cash Flow | -30.00M | -102.00M | -64.00M | -101.00M | -94.00M |
Indivior Technical Analysis
Positive
31.94
Price Trends
32.40
Negative
33.34
Negative
27.73
Positive
Market Momentum
-0.45
Negative
55.96
Neutral
80.77
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INDV, the sentiment is Positive. The current price of 31.94 is above the 20-day moving average (MA) of 30.40, below the 50-day MA of 32.40, and above the 200-day MA of 27.73, indicating a neutral trend. The MACD of -0.45 indicates Negative momentum. The RSI at 55.96 is Neutral, neither overbought nor oversold. The STOCH value of 80.77 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INDV.
Indivior Risk Analysis
Indivior disclosed 22 risk factors in its most recent earnings report. Indivior reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Indivior Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $13.21B | 29.49 | 16.67% | ― | 19.61% | 11.36% | |
61 Neutral | $35.50B | 25.43 | 20.09% | ― | -0.25% | ― | |
58 Neutral | $4.04B | 21.36 | -98.94% | ― | -0.25% | ― | |
57 Neutral | $1.12B | 21.64 | 24.11% | ― | 26.34% | -32.79% | |
55 Neutral | $2.97B | -72.78 | -3.67% | ― | 4.54% | -130.59% | |
54 Neutral | $4.03B | 54.80 | -67.91% | ― | 9.50% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
INDV
Indivior
32.31
23.37
261.41%
NBIX
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131.64
40.92
45.11%
SUPN
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TEVA
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30.96
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141.50%
COLL
Collegium Pharmaceutical
35.25
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42.89%
AMRX
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12.80
5.83
83.64%
Indivior Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Indivior Issues $500 Million Convertible Senior Notes Offering
Positive
Mar 17, 2026
On March 17, 2026, Indivior Pharmaceuticals, Inc. issued $500 million of 0.625% Convertible Senior Notes due 2031, including $50 million from the full exercise of an option granted to initial purchasers, with the notes ranking as senior unsecured ...
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Indivior Prices Upsized Convertible Notes for Debt Refinancing
Positive
Mar 13, 2026
On March 12, 2026, Indivior Pharmaceuticals, Inc. announced it had priced an upsized private offering of $450 million aggregate principal amount of 0.625% convertible senior notes due 2031 to qualified institutional buyers under Rule 144A, with an...
Business Operations and StrategyStock BuybackPrivate Placements and Financing
Indivior Announces $400 Million Convertible Notes and Buyback
Positive
Mar 12, 2026
On March 12, 2026, Indivior Pharmaceuticals, Inc. announced a proposed private offering of $400 million in convertible senior notes due 2031, with an option for initial purchasers to buy an additional $60 million. The senior unsecured notes, offer...
Business Operations and StrategyStock BuybackFinancial Disclosures
Indivior Reports Record 2025 Results, Launches Share Buyback
Positive
Feb 26, 2026
Indivior reported on February 26, 2026, that it delivered record fourth-quarter and full-year 2025 results driven by SUBLOCADE, with net revenue from the drug rising 13% for the year to $856 million and 30% in the quarter to $252 million, helping ...
Business Operations and StrategyRegulatory Filings and Compliance
Indivior Completes U.S. Domestication and Governance Realignment
Positive
Jan 26, 2026
On January 26, 2026, Indivior U.S. announced the effectiveness of a court-approved Scheme of Arrangement and the completion of its U.S. Domestication, under which Indivior Pharmaceuticals, Inc. became the ultimate parent of Indivior U.K., each Ind...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresLegal ProceedingsShareholder Meetings
Indivior issues 2026 guidance and enters Accelerate phase
Positive
Jan 8, 2026
On January 8, 2026, Indivior issued full-year 2026 financial guidance, projecting total net revenue between $1.125 billion and $1.195 billion, with SUBLOCADE net revenue expected at $905 million to $945 million, non-GAAP operating expenses of $430...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.