IVA Healthcare

Inventiva S.A.

$4.03+5.22%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: France
Market cap: 952.0M USD
Enterprise value: 944.1M USD
Full-time employees: 69

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.92 vs a peer median of 0.63), though less than the overall markethigher risk: bigger price swings (beta 0.92 vs peers 0.63)

Ranks #1,156 of 1,157 healthcare companies (bottom 1%)

See how it ranks against its peers

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.
Inventiva's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.
Shareholders being diluted. Shares outstanding up 359% from December 2022 to December 2025.
Inventiva had 359% more shares at December 2025 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Inventiva had 359% more shares at December 2025 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock-based pay is a large cost. Stock pay was 597% of revenue in 2025.
Inventiva paid employees EUR 27M in stock in 2025, 597% of its EUR 4M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Not profitable yet. Reported a loss in the 12 months to December 2025.
Inventiva reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

StockQuotient Score

3/ 100

Oct 5 3 → Nov 4 3

Valuation

Is the price right?

0/100

Weak

2/3 inputs reported · Partial data

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-25.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · EUR→USD at the current rateNegative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0148 · MAD: 0.0148

EBITDA yield-18.4%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 months · EUR→USD convertedNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.00Sector median: 0.0401 · MAD: 0.0401

Free cash flow yieldUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield-2.1%

SEC filings (IFRS mapped) · latest balance sheet · EUR→USD at the current rateOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

5/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

12-month revenue fell 67.1%

Why

Weaker than most peers on:

▼ 3-yr revenue
▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.29Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth-28.3%

SEC filings (IFRS mapped) · 3 years to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.70Sector median: 0.0584 · MAD: 0.0840

Revenue growth-51.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -4.87Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

0/100

Weak

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-3145.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -71.87Sector median: 0.0706 · MAD: 0.1217

Return on assets-141.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -11.22Sector median: 0.0166 · MAD: 0.0537

Return on invested capitalUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin78.3%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-989.1%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.92

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.87Sector median: 0.6250 · MAD: 0.3380

Current ratio3.16×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 0.41Sector median: 2.5860 · MAD: 1.3850

Debt / equityUnavailable

Shareholders' equity is negative, so debt/equity counts as among the highest in its peer group33% base weight · Z-score -9.77Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Inventiva

Is Inventiva getting weaker?: Its latest SEC filing (Apr 8, 2026) got weaker in some ways: 12-month revenue fell 67.1%. Its overall score is unchanged at 3/100 since Oct 28, 2026.
How is Inventiva valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 0/100 against 1,393 healthcare peers. Earnings yield -25.5% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -25.5% vs peers 1.5% (weaker than 100% of peers).
Is Inventiva growing?: More slowly than most of its peers. Growth scores 5/100 against 1,393 healthcare peers. 3-year revenue growth -28.3% vs a peer median of 5.8% (weaker than 100% of peers).3-year revenue growth -28.3% vs peers 5.8% (weaker than 100% of peers).
How profitable is Inventiva?: Less profitable than most of its peers. Profitability scores 0/100 against 1,393 healthcare peers. Operating margin -3145.5% vs a peer median of 7.1% (weaker than 100% of peers).Operating margin -3145.5% vs peers 7.1% (weaker than 100% of peers).
How risky is Inventiva?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 0.92 vs a peer median of 0.63 (weaker than 68% of peers).Beta 0.92 vs peers 0.63 (weaker than 68% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Dec 31, 2025 · filed Apr 8, 2026 · compared with the quarter ended Jun 30, 2025

Got weaker

12-month revenue fell 67.1%

Worth watching: Inventiva is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	13.6M EUR	4.5M EUR	−67.1%
Net income (12 months)	−311.1M EUR	−354.1M EUR	+13.8%
Operating margin	-795.3%	-3145.5%	−2350.2 pts
Cash	122.1M EUR	99.3M EUR	−18.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in EUR, as reported

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	-1242.6%	-468.9%	-587.7%	-1060.6%	-3145.5%	▼ >999 pts
Net margin	-1183.5%	-445.6%	-631.8%	-2002.7%	-7899.6%	▼ >999 pts
Return on assets (ROA)	-40.7%	-46.8%	-158.7%	-154.8%	-141.9%	▲ 13 pts
Return on equity (ROE)	-55.9%	-119.3%	—	—	—	—
Current ratio	5.06×	3.47×	0.96×	0.92×	3.16×	▲ 242%
Quick ratio	5.04×	3.45×	0.95×	0.92×	—	—
Debt to equity	0.11×	0.98×	—	—	—	—
Interest coverage	-377.64×	-97.79×	-19.84×	-8.01×	-4.20×	▲ 48%

IVA price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.92 vs a peer median of 0.63), though less than the overall markethigher risk: bigger price swings (beta 0.92 vs peers 0.63)

Ranks #1,156 of 1,157 healthcare companies (bottom 1%)

See how it ranks against its peers

Worth knowing

Negative shareholders' equity. Liabilities exceed assets on the balance sheet.

Inventiva's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.

Shareholders being diluted. Shares outstanding up 359% from December 2022 to December 2025.

Inventiva had 359% more shares at December 2025 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Inventiva had 359% more shares at December 2025 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock-based pay is a large cost. Stock pay was 597% of revenue in 2025.

Inventiva paid employees EUR 27M in stock in 2025, 597% of its EUR 4M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Not profitable yet. Reported a loss in the 12 months to December 2025.

Inventiva reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Questions investors ask about Inventiva

Is Inventiva getting weaker?

Its latest SEC filing (Apr 8, 2026) got weaker in some ways: 12-month revenue fell 67.1%. Its overall score is unchanged at 3/100 since Oct 28, 2026.

How is Inventiva valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 0/100 against 1,393 healthcare peers. Earnings yield -25.5% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -25.5% vs peers 1.5% (weaker than 100% of peers).

Is Inventiva growing?

More slowly than most of its peers. Growth scores 5/100 against 1,393 healthcare peers. 3-year revenue growth -28.3% vs a peer median of 5.8% (weaker than 100% of peers).3-year revenue growth -28.3% vs peers 5.8% (weaker than 100% of peers).

How profitable is Inventiva?

Less profitable than most of its peers. Profitability scores 0/100 against 1,393 healthcare peers. Operating margin -3145.5% vs a peer median of 7.1% (weaker than 100% of peers).Operating margin -3145.5% vs peers 7.1% (weaker than 100% of peers).

How risky is Inventiva?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 0.92 vs a peer median of 0.63 (weaker than 68% of peers).Beta 0.92 vs peers 0.63 (weaker than 68% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

13.6M EUR

4.5M EUR

−67.1%

Net income (12 months)

−311.1M EUR

−354.1M EUR

+13.8%

Operating margin

-795.3%

-3145.5%

−2350.2 pts

Cash

122.1M EUR

99.3M EUR

−18.6%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-1242.6%

-468.9%

-587.7%

-1060.6%

-3145.5%

▼ >999 pts

Net margin

-1183.5%

-445.6%

-631.8%

-2002.7%

-7899.6%

▼ >999 pts

Return on assets (ROA)

-40.7%

-46.8%

-158.7%

-154.8%

-141.9%

▲ 13 pts

Return on equity (ROE)

-55.9%

-119.3%

—

Current ratio

5.06×

3.47×

0.96×

0.92×

3.16×

▲ 242%

Quick ratio

5.04×

3.45×

0.95×

0.92×

—

Debt to equity

0.11×

0.98×

—

Interest coverage

-377.64×

-97.79×

-19.84×

-8.01×

-4.20×

▲ 48%