IVVD Healthcare

Invivyd, Inc.

$0.58+0.00%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: United States
Market cap: 171.5M USD
Enterprise value: 19.9M USD
Full-time employees: 122

Overall health

Strength: growing faster than most peersgrowing faster than peers
Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 0.95 vs a peer median of 0.63), though less than the overall marketbigger price swings (beta 0.95 vs peers 0.63)

Ranks #815 of 1,157 healthcare companies (bottom 30%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 170% from December 2022 to July 2026.
Invivyd had 170% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Invivyd had 170% more shares at July 2026 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 22% of revenue in FY Dec 2025.
Invivyd paid employees $12M in stock in FY Dec 2025, 22% of its $53M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Invivyd looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Growing fast, still losing money. Revenue grew faster than 84% of peers, at an operating loss.
Revenue grew faster than 84% of peers, but the business runs at an operating loss (margin -193%).

StockQuotient Score

41/ 100

Oct 5 42 → Nov 4 41 (-1)

Valuation

Is the price right?

8/100

Weak

3/3 inputs reported · High confidence

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-62.6%

SEC filings · 12 months to Jun 2026Negative (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-563.4%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (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 yield-63.9%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield105.6%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

74/100

Moderate

2/3 inputs reported · Partial data

Since last quarter: ▲ Stronger

12-month revenue up 4.5%

Why

Stronger than most peers on:

▲ 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 growthUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0584 · MAD: 0.0840

Revenue growth26.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.07Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

8/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROIC
▼ ROA
▼ Operating margin

Compare with peers

Behind the score

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

Operating margin-192.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -16.42Sector median: 0.0706 · MAD: 0.1217

Return on assets-49.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -9.45Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-423.3%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -16.87Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin92.2%

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-59.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio
▲ Debt / equity

Compare with peers

Behind the score

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

Beta0.95

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.95Sector median: 0.6250 · MAD: 0.3380

Current ratio5.87×

SEC filings · latest balance sheetReported value33% base weight · Z-score 2.37Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.05×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.86Sector 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 Invivyd

Is Invivyd getting weaker?: Its latest SEC filing (Aug 13, 2026) showed no major changes. Its overall score is unchanged at 41/100 since Oct 28, 2026.
How is Invivyd valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -62.6% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -62.6% vs peers 1.5% (weaker than 100% of peers).
Is Invivyd growing?: Yes, faster than most of its peers. Growth scores 74/100 against 1,393 healthcare peers. Revenue growth 26.3% vs a peer median of 6.1% (stronger than 84% of peers).Revenue growth 26.3% vs peers 6.1% (stronger than 84% of peers).
How profitable is Invivyd?: Less profitable than most of its peers. Profitability scores 8/100 against 1,393 healthcare peers. Return on invested capital -423.3% vs a peer median of 4.7% (weaker than 100% of peers).Return on invested capital -423.3% vs peers 4.7% (weaker than 100% of peers).
How risky is Invivyd?: Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 5.87× vs a peer median of 2.59× (stronger than 78% of peers).Current ratio 5.87× vs peers 2.59× (stronger than 78% of peers). Beta 0.95 vs a peer median of 0.63 (weaker than 69% of peers).Beta 0.95 vs peers 0.63 (weaker than 69% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 13, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

Worth watching: Invivyd 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)	55.9M USD	58.4M USD	+4.5%
Net income (12 months)	−77.6M USD	−107.3M USD	+38.3%
Operating margin	-146.4%	-192.8%	−46.4 pts
Free cash flow (12 months)	−79.5M USD	−109.7M USD	+38.0%
Cash	184.2M USD	160.1M USD	−13.1%
Shares outstanding	294.6M	294.8M	+0.1%

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

Industry valuation context

Industry: Biotechnology · 132 companies

Valuations in Biotechnology are within their usual range since 2016.

48% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +530% vs the whole market, against a usual +637%.

2016Shaded: most expensive fifth of its range2026

Earnings-based measures are left out for now because many companies in Biotechnology are losing money.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	—	—	—	-696.8%	-104.0%	▲ 593 pts
Net margin	—	—	—	-669.4%	-98.2%	▲ 571 pts
Return on assets (ROA)	-36.6%	-63.0%	-86.7%	-131.2%	-19.0%	▲ 112 pts
Return on equity (ROE)	-40.6%	-67.8%	-111.9%	-251.6%	-21.7%	▲ 230 pts
Free cash flow margin	—	—	—	-672.2%	-109.1%	▲ 563 pts
Current ratio	9.94×	15.06×	4.47×	1.62×	7.24×	▲ 346%
Quick ratio	—	—	4.47×	1.21×	7.11×	▲ 489%

IVVD price history

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

Similar companies

Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity

Drawback: less profitable than most peersless profitable than peers

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

Drawback: its share price swings more than most peers’ (beta 0.95 vs a peer median of 0.63), though less than the overall marketbigger price swings (beta 0.95 vs peers 0.63)

Ranks #815 of 1,157 healthcare companies (bottom 30%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 170% from December 2022 to July 2026.

Invivyd had 170% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Invivyd had 170% more shares at July 2026 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 22% of revenue in FY Dec 2025.

Invivyd paid employees $12M in stock in FY Dec 2025, 22% of its $53M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Invivyd looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Growing fast, still losing money. Revenue grew faster than 84% of peers, at an operating loss.

Revenue grew faster than 84% of peers, but the business runs at an operating loss (margin -193%).

Questions investors ask about Invivyd

Is Invivyd getting weaker?

Its latest SEC filing (Aug 13, 2026) showed no major changes. Its overall score is unchanged at 41/100 since Oct 28, 2026.

How is Invivyd valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -62.6% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -62.6% vs peers 1.5% (weaker than 100% of peers).

Is Invivyd growing?

Yes, faster than most of its peers. Growth scores 74/100 against 1,393 healthcare peers. Revenue growth 26.3% vs a peer median of 6.1% (stronger than 84% of peers).Revenue growth 26.3% vs peers 6.1% (stronger than 84% of peers).

How profitable is Invivyd?

Less profitable than most of its peers. Profitability scores 8/100 against 1,393 healthcare peers. Return on invested capital -423.3% vs a peer median of 4.7% (weaker than 100% of peers).Return on invested capital -423.3% vs peers 4.7% (weaker than 100% of peers).

How risky is Invivyd?

Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 5.87× vs a peer median of 2.59× (stronger than 78% of peers).Current ratio 5.87× vs peers 2.59× (stronger than 78% of peers). Beta 0.95 vs a peer median of 0.63 (weaker than 69% of peers).Beta 0.95 vs peers 0.63 (weaker than 69% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

55.9M USD

58.4M USD

+4.5%

Net income (12 months)

−77.6M USD

−107.3M USD

+38.3%

Operating margin

-146.4%

-192.8%

−46.4 pts

Free cash flow (12 months)

−79.5M USD

−109.7M USD

+38.0%

Cash

184.2M USD

160.1M USD

−13.1%

Shares outstanding

294.6M

294.8M

+0.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

—

-696.8%

-104.0%

▲ 593 pts

Net margin

—

-669.4%

-98.2%

▲ 571 pts

Return on assets (ROA)

-36.6%

-63.0%

-86.7%

-131.2%

-19.0%

▲ 112 pts

Return on equity (ROE)

-40.6%

-67.8%

-111.9%

-251.6%

-21.7%

▲ 230 pts

Free cash flow margin

—

-672.2%

-109.1%

▲ 563 pts

Current ratio

9.94×

15.06×

4.47×

1.62×

7.24×

▲ 346%

Quick ratio

—

4.47×

1.21×

7.11×

▲ 489%