Invesque (IVQ) AI Stock Analysis

• Market Cap: C$114.26M
• Dividend Yield: N/A
• Average Volume (3M): 48.16K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.85
• Revenue Growth: -33.25%
• EPS Growth: 90.14%
• Country: CA
• Employees: 1,448
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -0.05
• Shares Outstanding: 914,074,400
• 10 Day Avg. Volume: 74,239
• 30 Day Avg. Volume: 48,155
• PEG Ratio: <0.01
• Price to Book (P/B): 0.04
• Price to Sales (P/S): 0.03
• P/FCF Ratio: 1.11
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: C$0.13 ▼(-3.08% Downside)

The score is held back primarily by weak financial performance (declining revenue, persistent losses, and high leverage with negative cash flows). Technical indicators provide partial offset with a clear short-term uptrend and positive momentum, while valuation remains difficult to support due to negative earnings and no stated dividend yield.

Positive Factors

Leverage Improving

An improving debt-to-equity trend reduces refinancing and covenant risks over the medium term. Lower relative leverage increases financial flexibility to fund maintenance capex, support JV activity or deleveraging, and helps stabilize interest expense burden as operations recover.

Free Cash Flow Trend

A material improvement in free cash flow growth, if sustained, strengthens the company's ability to service debt, fund property upkeep, and invest in strategic initiatives without immediate reliance on equity or asset sales, improving longer-term liquidity and optionality.

Gross Margin Stability

A stable gross profit margin signals property-level cash generation resilience from rents and operating receipts. This underlying margin stability supports recovery in net cash flow as occupancy or revenue pressures ease, preserving core asset economics over multiple quarters.

Negative Factors

Declining Revenue

A steep, sustained drop in revenue materially reduces scale and recurring rent-roll cash flow, weakening the base for fixed-cost absorption. Over several quarters this constrains cash generation, reduces reinvestment capacity, and raises pressure on asset-level performance and landlord returns.

Persistent Unprofitability

Ongoing negative profitability and ROE erode shareholder equity and retained earnings, limiting internal funding for capex or repairs. Persistent losses increase reliance on external financing, raising cost of capital and constraining strategic initiatives and portfolio repositioning over the medium term.

Negative Operating Cash Flow

Continued negative operating and free cash flows create lasting liquidity and covenant risk, forcing dependence on new debt, asset sales, or equity to cover obligations. This hampers the company's ability to invest, maintain properties, or pursue growth without external capital over coming quarters.

Invesque Business Overview & Revenue Model

Company Description

Invesque Inc. operates as a health care real estate investment company. Its portfolio includes investments in independent living, assisted living, memory care, skilled nursing, transitional care, and medical office properties. As of March 11, 2022, the company owned a portfolio of 88 properties, including 60 assisted living and memory care facilities, 12 skilled nursing facilities, 10 transitional care properties, and 4 medical office buildings in the United States; and 15 properties comprised 11 medical office buildings, and 4 seniors housing and care facilities in Canada. It also includes investments in owner occupied seniors housing properties, which comprise the ownership of real estate properties, as well as provides management services. The company was formerly known as Mainstreet Health Investments Inc. and changed its name to Invesque Inc. in January 2018. Invesque Inc. was incorporated in 2007 and is headquartered in Toronto, Canada.

How the Company Makes Money

Invesque generates revenue primarily through rental income from its portfolio of healthcare properties. The company leases its facilities to well-established operators, which pay rent based on long-term lease agreements. Additionally, Invesque may earn income through property management fees and performance-based incentives tied to the operational success of its tenants. The company can also benefit from capital appreciation of its properties and potential sales of assets at a profit. Partnerships with experienced operators in the healthcare sector help ensure steady occupancy rates and revenue stability, contributing significantly to its earnings. Furthermore, Invesque may engage in financing activities, such as issuing equity or debt, to fund acquisitions and optimize its capital structure.

Invesque Financial Statement Overview

Summary

Weak fundamentals: revenue declined sharply (TTM -24.61%), profitability remains negative (net margin -4.86%) with weak EBIT/EBITDA margins, and leverage is high (TTM debt-to-equity 1.37) alongside negative ROE. Cash flow shows some improvement in free cash flow growth, but operating and free cash flow are still negative, keeping liquidity risk elevated.

Income Statement

Invesque's income statement reveals significant challenges, with a declining revenue trend and negative net profit margins over the years. The TTM data shows a substantial revenue drop of 24.61%, and the net profit margin remains negative at -4.86%. Despite a relatively stable gross profit margin, the company's EBIT and EBITDA margins are weak, indicating operational inefficiencies.

Balance Sheet

The balance sheet highlights high leverage, with a debt-to-equity ratio of 1.37 in the TTM period, which is an improvement from previous years but still indicates significant financial risk. The return on equity is negative, reflecting ongoing losses. The equity ratio is low, suggesting limited shareholder equity relative to total assets.

Cash Flow

Cash flow analysis shows a mixed picture. The TTM period indicates a significant improvement in free cash flow growth, yet both operating and free cash flows are negative, raising concerns about liquidity. The free cash flow to net income ratio is positive, suggesting some ability to cover losses, but overall cash flow management remains a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	109.74M	162.67M	188.75M	198.03M	210.45M	217.39M
Gross Profit	40.26M	59.00M	72.41M	95.59M	90.97M	108.39M
EBITDA	2.06M	24.27M	-18.83M	10.38M	49.13M	-101.52M
Net Income	-32.72M	-36.14M	-99.24M	-42.01M	-28.54M	-184.00M
Balance Sheet
Total Assets	179.94M	637.22M	828.28M	1.10B	1.30B	1.50B
Cash, Cash Equivalents and Short-Term Investments	15.16M	18.16M	10.74M	27.58M	19.37M	34.13M
Total Debt	39.97M	394.84M	588.25M	765.46M	893.75M	1.05B
Total Liabilities	82.40M	518.05M	681.18M	865.69M	1.01B	1.21B
Stockholders Equity	97.54M	119.17M	146.59M	231.65M	286.26M	293.33M
Cash Flow
Free Cash Flow	-12.38M	4.40M	217.00K	5.40M	11.11M	13.82M
Operating Cash Flow	-8.79M	9.27M	6.03M	11.91M	18.68M	25.09M
Investing Cash Flow	420.04M	152.21M	132.05M	137.49M	119.19M	2.98M
Financing Cash Flow	-410.70M	-154.07M	-154.92M	-141.19M	-152.63M	-5.78M

Invesque Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.13
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IVQ, the sentiment is Negative. The current price of 0.13 is below the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.13, and below the 200-day MA of 0.13, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 44.50 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:IVQ.

Invesque Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MEQ	70 Outperform	C$1.63B	5.67	17.29%	0.09%	10.61%	43.64%
IEI	66 Neutral	C$34.73M	7.14	4.45%	2.31%	2.03%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
IVQ	51 Neutral	C$114.26M	-0.77	-31.26%	―	-33.25%	90.14%
BRE	46 Neutral	C$131.35M	-12.19	―	10.31%	58.15%	-235.04%
SVI	43 Neutral	C$1.81B	-516.67	-2.63%	0.25%	9.98%	93.01%

Invesque Corporate Events

Invesque Retires US$27.3 Million High-Coupon Debentures, Streamlining Capital Structure

Invesque Inc. has fully redeemed its US$27.3 million 9.75% unsecured subordinated debentures due December 30, 2027, with the securities retired on January 23, 2026 and subsequently delisted from the Toronto Stock Exchange. The move streamlines Invesque’s capital structure and reduces its reliance on high-cost subordinated debt, a step that may improve its financial flexibility and risk profile as it continues to focus on expanding and managing its portfolio of seniors housing real estate across North America.

The most recent analyst rating on (TSE:IVQ) stock is a Hold with a C$0.13 price target. To see the full list of analyst forecasts on Invesque stock, see the TSE:IVQ Stock Forecast page.

Invesque Retires US$27.3 Million High-Coupon Debentures, Streamlining Capital Structure

Invesque Inc. has fully redeemed its US$27.3 million 9.75% unsecured subordinated debentures, which were due December 30, 2027, and has had the debentures delisted from the Toronto Stock Exchange following the January 23, 2026 redemption. The transaction removes a relatively expensive layer of debt from Invesque’s capital structure, potentially improving its financial flexibility and cost of capital as it continues to focus on its portfolio of private pay seniors housing assets across North America.

The most recent analyst rating on (TSE:IVQ) stock is a Hold with a C$0.13 price target. To see the full list of analyst forecasts on Invesque stock, see the TSE:IVQ Stock Forecast page.

Invesque Sells Nine Seniors Properties, Moves to Redeem US$27.3 Million Debentures

Invesque Inc. has accelerated its portfolio restructuring by disposing of nine properties in December, including four U.S. seniors housing assets sold for US$57 million, a medical office building in New York sold for US$4.1 million, and its only Canadian retirement home investment, which generated CAD$31 million of net equity. The company is using proceeds from a year of heavy asset sales—46 assets sold for more than US$550 million and roughly US$510 million of debt repaid—to redeem in early 2026 all US$27.3 million of its 9.75% unsecured subordinated debentures, a move that further deleverages its balance sheet and leaves Invesque with a streamlined portfolio of seven senior housing communities across four U.S. states.

The most recent analyst rating on (TSE:IVQ) stock is a Hold with a C$0.11 price target. To see the full list of analyst forecasts on Invesque stock, see the TSE:IVQ Stock Forecast page.

Invesque Inc. Reports Strategic Asset Sales and Debt Reduction in Q3 2025

Invesque Inc. reported its third-quarter 2025 results, highlighting significant asset sales and debt reduction. The company sold 15 properties, including senior housing and skilled nursing facilities, generating proceeds used to repay substantial debts, including the full repayment of the KeyBank corporate credit facility. This strategic move aligns with Invesque’s disposition and de-leveraging strategy, providing greater financial flexibility and positioning the company for future growth. Despite a decrease in revenue and a net loss, the company’s actions suggest a focus on stabilizing operations and improving financial health.