Innovex International Inc Dossier
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SectorEnergy IndustryOil & Gas Equipment & Services Beta (adjusted)0.91 Intrinsic Value $34.83median of 6 methods · middle span $23-$116based on filings through 30 Jun 2026 Market Price $27.52Price as of 1 Oct 2026 UndervaluedIntrinsic value is 27% above the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $1.9B Enterprise Value $1.7B Shares Outstanding 69.7M diluted Moat Rating None Next Earnings Date3 Nov 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Innovex International, Inc. (NYSE: INVX) represents a compelling investment opportunity in the oilfield services (OFS) sector. Formed through the transformative 2024 merger of Dril-Quip and Innovex Downhole Solutions, the company has established a highly efficient, asset-light business model with a strong balance sheet characterized by zero bank debt and substantial cash reserves. Innovex's strategic focus on 'Big Impact, Small Ticket' consumable technologies protects it from cyclical capital expenditure downturns. Recent acquisitions, including Drilling Innovative Solutions (DIS) in April 2026 and the announced $95 million acquisition of Norway's TCO Group AS in June 2026, significantly bolster its international offshore presence and subsea capabilities. With management targeting mid-20s EBITDA margins and high-teens ROCE, the company is well-positioned to deliver superior long-term returns. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$27.00 Mean target$33.20 High · most bullish analyst$35.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario The bear case reflects prolonged integration delays or higher-than-anticipated logistics and supply chain costs stemming from geopolitical conflicts in the Middle East. A deeper downturn in North American land completion activity and slower subsea project awards would pressure near-term revenues and delay the realization of the targeted high-teens ROCE. Base CaseCentral scenario The base case assumes successful integration of the newly acquired TCO Group AS and DIS, driving international and offshore revenue growth. Despite a projected slight decline in North American land activity, market share gains and cross-selling synergies will support stable overall revenues. EBITDA margins are expected to expand consistently above 20% in the second half of 2026, supported by the completed exit from the legacy Eldridge facility. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
Thesis Invalidation Triggers
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |