Innoviva, Inc. (INVA)

Pharmaceutical Preparations

Latest Price

$21.26

TTM P/E

4.89

Normalized P/E

10.59

TTM Div Yield

Fwd Div Yield

Book Value

16.71

P/B Ratio

1.27

Valuation metrics

EPS: $3.30

Book value / share: $15.71

Formula: √(22.5 × EPS × BVPS)

Graham Number

$34.16

+61% upside

Norm. op. income: $284M (median of 4yr)

Tax rate: 17%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$35.42

+67% upside

Base FCF: $196M (median of recent 5yr)

Growth: 10%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$69.04

+225% upside

EPS: $3.30

Target P/E: 11×

Formula: EPS × P/E

P/E Fair Value

$36.30

+71% upside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	11.56M	$262.0M	16.15%	+247.4K	2026-06-30
Dimensional Fund Advisors LP	4.49M	$102.0M	6.28%	+57.6K	2026-06-30
Vanguard Portfolio Management LLC	4.22M	$95.0M	5.90%	-4.7K	2026-06-30
Renaissance Technologies LLC	4.04M	$91.0M	5.64%	-19.1K	2026-06-30
State Street Corp	3.27M	$74.0M	4.57%	+207.6K	2026-06-30
Vanguard Capital Management LLC	3.16M	$71.0M	4.41%	+16.5K	2026-06-30
Millennium Management LLC	2.54M	$57.0M	3.55%	+261.7K	2026-06-30
Geode Capital Management, LLC	2.07M	$47.0M	2.90%	+145.0K	2026-06-30
Systematic Financial Management LP	2.02M	$45.0M	2.83%	-517	2026-06-30
Boston Partners	1.93M	$43.0M	2.70%	+209.1K	2026-06-30