Innovex International
Designs well-construction, completion, production and intervention tools for onshore and offshore operators.
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Profile
Designs, manufactures, sells and rents engineered tools for well construction, completion, production and intervention, including downhole consumables, surface wellheads and subsea systems. Revenue is split roughly evenly between North America and international/offshore markets, while demand depends on oil and gas operators' drilling and capital-spending cycles.
Designs, manufactures, sells and rents engineered products used from well construction through completion, production and intervention. The portfolio spans cementing and liner-hanger systems, drilling-enhancement and fishing tools, artificial-lift accessories, surface wellheads, and subsea wellheads and connectors. Recent acquisitions added specialized float equipment, cement-retaining tools, glass barriers, and tubing-conveyed perforating technologies.
Serves onshore and offshore operators, national oil companies, and oilfield-service providers, with revenue split roughly evenly between North America and international/offshore markets. Develops products with anchor customers and uses an established sales and distribution network to extend acquired technologies. Demand remains tied to exploration and production spending and volatile commodity prices, while selected frac-plug and intervention products rely on a limited supplier base.
Company facts
Key statistics
Year to date +32.2% · Average volume (30d) 686.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | Barclays | Reiterate | Equal Weight | $26 | $27 | |
| Jun 8, 2026 | Jefferies | Target | $34 | |||
| May 18, 2026 | Piper Sandler | Reiterate | Overweight | $27 | $34 | |
| May 7, 2026 | Barclays | Target | $26 | |||
| Dec 18, 2025 | Piper Sandler | Reiterate | Overweight | $27 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.31 | $0.36 | +17.6% | $241.6M | $244.9M | +1.4% | +11.77% |
| May 4, 2026Q1 FY26 | $0.23 | $0.34 | +47.8% | $227.5M | $239.0M | +5.1% | −2.70% |
| Feb 23, 2026Q4 FY25 | $0.29 | $0.20 | −31.0% | $240.4M | $273.6M | +13.8% | +6.37% |
| Nov 3, 2025Q3 FY25 | $0.27 | $0.18 | −33.3% | $240.0M | $240.0M | 0.0% | −3.97% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $240.4M | $224.2M | $240.0M | $273.6M | $239.0M | $244.9M | |
| Gross profit | $76.5M | $71.7M | $60.6M | $63.7M | $68.3M | $83.6M | |
| Operating income | $21.9M | $22.7M | $25.0M | $31.6M | $26.5M | $33.8M | |
| Net income | $14.8M | $15.3M | $39.2M | $14.0M | −$16.7M | $25.0M | |
| Diluted EPS | $0.21 | $0.22 | $0.57 | $0.20 | −$0.24 | $0.36 | |
| Gross margin | 31.8% | 32.0% | 25.2% | 23.3% | 28.6% | 34.2% | |
| Operating margin | 9.1% | 10.1% | 10.4% | 11.6% | 11.1% | 13.8% |
Fiscal years (4-quarter sums)FY21 $322.9M · FY22 $393.3M · FY23 $452.7M · FY24 $660.8M · FY25 $978.3M
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $222.1M · Total debt $74.6M · Total assets $1.33B · Shareholders' equity $1.06B
Dividends
No dividends on record.
Ownership
Shares outstanding 69.82M · Float 38.50M · 55.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.47M | 9.26% | 13F | Aug 7, 2026 |
| Brandes Investment Partners, LP | 5.73M | 8.20% | 13F | Aug 14, 2026 |
| only). | 4.46M | 6.70% | 13D/G | Nov 14, 2024 |
| Dimensional Fund Advisors LP | 2.87M | 4.12% | 13F | Aug 11, 2026 |
| Vanguard Portfolio Management LLC | 2.75M | 3.94% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Amberjack Capital Partners, L.P. | director, 10 percent owner: | −5,000,000 | $28.71 |
| Aug 10, 2026 | Innovex Co-Invest Fund, L.P. | director, 10 percent owner: | −5,000,000 | $28.71 |
| Aug 4, 2026 | Mark Reddout | officer: President of North America | −10,000 | $30.00 |
| Jun 2, 2026 | Mark Reddout | officer: President of North America | −10,750 | $28.00 |
| Feb 27, 2026 | Innovex Co-Invest Fund, L.P. | director, 10 percent owner: | −6,612,500 | $24.59 |
Peers
- SLB
Dominant globally across downhole completion and oilfield services.
- Halliburton
Scale-driven completions giant in cementing, liner hangers, and frac plugs.
- Baker Hughes
Integrated OFS giant competing in completions, ESP, and cementing at scale.
- Weatherford International
Lean OFS rival with liner hangers, cementing, and production optimization.
- NOV
Equipment-first OFS with completion tools, frac plugs, and liner hangers.
- Oil States International
Mid-cap OFS with downhole consumables, wellhead hardware, and offshore products.
- Expro Group
Offshore-first well services across cementing, liner hangers, and intervention.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Innovex International | $30.11 | −0.03% | $2.10B | 33.8 | 18.6 | 2.1 | +9.2% |
| SLB | $57.61 | +0.50% | $85.09B | 28.0 | 20.2 | 2.3 | +5.0% |
| Halliburton | $36.73 | +1.53% | $30.22B | 18.9 | 14.3 | 1.4 | +3.7% |
| Baker Hughes | $62.78 | +0.60% | $61.95B | 20.1 | 23.4 | 2.2 | −2.4% |
| Weatherford International | $93.79 | +0.01% | $6.72B | 18.5 | 15.3 | 1.4 | −8.2% |
| NOV | $20.79 | −0.91% | $7.48B | 80.7 | 19.8 | 0.9 | −2.5% |
| Oil States International | $8.61 | −0.06% | $518.3M | — | 15.5 | 0.8 | −5.3% |
| Expro Group | $17.61 | −0.06% | $1.98B | 97.3 | 16.7 | 1.3 | −7.0% |
| Median | 24.0 | 16.7 | 1.4 | −2.5% |