Innoviva stock: fair value
INVAThe fair value of Innoviva under our model is $29.88, the price is 37% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly undervaluedIn our model the price counts as cheap below $22.99 and expensive above $42.69 (uncertainty medium, based on the price swings of the past year).
Calculated with a cost of equity of 10%. At 11% the fair value would be $25.91, at 9% it would be $35.38.
Where the number comes from
From the cash-flow model alone; the profit includes one-off items, so there is no industry value.
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.8%. Discounted at 10.0% (government bond yield 3.8% plus beta 1.39 times a risk premium of 4.5%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $29.88 per share: free cash flow for the next ten years, each year discounted to today at 10.0%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 10.0%) |
|---|---|---|---|---|
| 2026 | $173.45M | extrapolated at −10.2% | 0.9088 | $157.64M |
| 2027 | $163.03M | extrapolated at −6.0% | 0.8260 | $134.66M |
| 2028 | $158.04M | extrapolated at −3.1% | 0.7507 | $118.64M |
| 2029 | $156.48M | extrapolated at −1.0% | 0.6823 | $106.76M |
| 2030 | $157.19M | extrapolated at 0.5% | 0.6201 | $97.47M |
| 2031 | $159.5M | extrapolated at 1.5% | 0.5635 | $89.88M |
| 2032 | $162.97M | extrapolated at 2.2% | 0.5122 | $83.47M |
| 2033 | $167.32M | extrapolated at 2.7% | 0.4655 | $77.88M |
| 2034 | $172.38M | extrapolated at 3.0% | 0.4230 | $72.92M |
| 2035 | $178M | extrapolated at 3.3% | 0.3845 | $68.44M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $1.01B |
| Terminal value: cash flow 2035 × (1 + 3.8%) / (10.0% − 3.8%) | $2.98B |
| Present value of terminal value (× 0.3845) | $1.15B |
| Equity value (sum plus present value of terminal value) | $2.15B |
| Shares (diluted) | 72.07M |
| Value per share (equity value divided by shares) | $29.88 |
| Fair value (from the cash flow model alone) | $29.88 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 6 Nov 2026)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.