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INNOVATE Corp
(NYSE:VATE)
INNOVATE Corp (VATE) vs. SPDR S&P 500 ETF (SPY)
INNOVATE Corp Business Overview & Revenue Model
INNOVATE Corp Earnings Call Summary
INNOVATE Corp Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 995.00M | 1.11B | 1.42B | 1.64B | 1.21B | 1.01B |
| Gross Profit | 185.70M | 208.80M | 216.00M | 221.40M | 183.70M | 167.30M |
| EBITDA | 50.40M | -99.00M | 69.80M | 53.10M | 16.00M | 54.90M |
| Net Income | -75.90M | -35.80M | -37.60M | -40.80M | -79.80M | -46.40M |
Balance Sheet | ||||||
| Total Assets | 890.90M | 891.10M | 1.04B | 1.15B | 1.08B | 6.74B |
| Cash, Cash Equivalents and Short-Term Investments | 33.40M | 48.80M | 80.80M | 80.40M | 45.50M | 4.69B |
| Total Debt | 689.90M | 719.20M | 771.90M | 714.40M | 626.30M | 561.50M |
| Total Liabilities | 1.10B | 1.03B | 1.18B | 1.18B | 1.07B | 6.14B |
| Stockholders Equity | -224.80M | -180.40M | -149.10M | -103.70M | -65.50M | 559.80M |
Cash Flow | ||||||
| Free Cash Flow | 2.10M | -9.90M | 8.10M | -30.20M | 2.90M | 23.90M |
| Operating Cash Flow | 23.10M | 9.10M | 26.50M | -9.50M | 27.00M | 41.70M |
| Investing Cash Flow | 71.80M | -13.90M | 39.10M | -22.50M | -223.20M | 162.30M |
| Financing Cash Flow | -162.80M | -26.50M | -65.30M | 68.10M | 4.30M | -204.60M |
INNOVATE Corp Technical Analysis
INNOVATE Corp Risk Analysis
INNOVATE Corp Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
| ― | $182.49M | 63.98 | 5.24% | 0.55% | 9.52% | -88.22% | |
| ― | $70.41M | ― | ― | ― | -27.08% | -115.05% | |
| ― | $4.75M | ― | -167.99% | ― | -13.50% | 97.08% | |
| ― | $29.71M | 64.07 | -578.91% | ― | 23.25% | -343.35% | |
| ― | $81.72M | -1.36 | ― | ― | -0.77% | 30.69% |
INNOVATE Corp Corporate Events
On October 21, 2025, INNOVATE Corp. announced that MediBeacon Inc. received regulatory approval from China’s National Medical Products Administration to sell the Transdermal GFR System, including the Lumitrace injection, in China. This system allows for point-of-care assessment of kidney function, addressing the needs of patients with chronic kidney disease, which affects 11% of China’s population. The approval marks a significant step in MediBeacon’s global expansion, providing an innovative solution to improve kidney disease management and patient outcomes.
The most recent analyst rating on (VATE) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on INNOVATE Corp stock, see the VATE Stock Forecast page.
On October 16, 2025, INNOVATE Corp. announced that its subsidiary, DBM Global Inc., will distribute a cash dividend of approximately $8.8 million on November 10, 2025, with INNOVATE set to receive about $8 million as the largest stockholder. This dividend reflects DBM Global’s robust financial performance and strengthens INNOVATE’s position in the steel construction industry, although individual INNOVATE stockholders are not eligible for the dividend.
The most recent analyst rating on (VATE) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on INNOVATE Corp stock, see the VATE Stock Forecast page.
The recent earnings call for INNOVATE Corp. presented a mixed sentiment, with notable achievements in the Life Sciences segment and successful debt refinancing efforts. However, these positive developments were overshadowed by significant declines in consolidated revenue and adjusted EBITDA, large net losses, and challenges within the Infrastructure and Spectrum segments.
INNOVATE Corp is a diversified holding company engaged in three primary sectors: Infrastructure, Life Sciences, and Spectrum, with a focus on long-term value creation through strategic investments and operations.
INNOVATE Corp announced its second quarter 2025 results, highlighting a decrease in consolidated revenue by 22.7% compared to the previous year, primarily due to declines in the Infrastructure and Spectrum segments. Despite the revenue drop, the company emphasized its strategic refinancing transactions that extend debt maturities, and noted growth in its Life Sciences segment, particularly with the FDA-approved MediBeacon system and R2’s increased sales. The company is also exploring new datacasting opportunities in its Spectrum segment, aiming for improved performance in the latter half of the year.
On August 4, 2025, INNOVATE Corp completed a series of refinancing transactions to extend the maturities of 81.7% of its outstanding debt as of June 30, 2025. This strategic move includes the exchange of senior secured notes, convertible notes, and amendments to various credit agreements, which is expected to enhance the company’s financial flexibility and potentially improve its market positioning.
INNOVATE Corp. announced early results of its exchange offer for its 8.5% Senior Secured Notes due 2026, with a successful tender of 99.41% of the notes, meeting the minimum exchange condition. The company will extend eligibility for the Total Early Exchange Consideration until the expiration deadline, with early settlement expected on August 4, 2025, and final settlement on August 15, 2025. This move aims to enhance the company’s financial structure by exchanging notes for newly issued 10.5% Senior Secured Notes due 2027, which include updated covenants and an increased interest rate.
On July 28, 2025, INNOVATE Corp. announced that its subsidiary, DBM Global Inc., will distribute a cash dividend of approximately $4.4 million, or $1.14 per share, to its stockholders on August 21, 2025. As the largest stockholder, INNOVATE expects to receive around $4 million of this payout, highlighting its significant stake in DBM Global and the financial benefits accruing from this investment.