Inventiva SA
IVAHealthcare|Biotechnology|France
$4.29
-0.21 (-4.66%)
Financials
Financial Snapshot
Market Cap
$1.01B
Enterprise Value
$195.3M
Revenue (TTM)
$5.2M
Net Income (TTM)
$-411.6M
Cash & Equivalents
—
Net Cash/Share
$-0.28
Free Cash Flow (TTM)
$-122.2M
Operating CF (TTM)
$-121.9M
Debt/Equity
-2.1
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$30.5M
Monthly Burn
$10.2M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $26.2M | $69.9M | $64.5M | $39.8M | $137.5M | $107.8M | $93.0M | $29.4M | $101.1M | $270.3M | $270.3M | |
| Operating Cash Flow | $-15.7M | $-20.1M | $-38.9M | $-31.6M | $-37.2M | $-53.8M | $-47.6M | $-89.0M | $-90.0M | $-122.8M | $-121.9M | |
| Free Cash Flow | $-15.9M | $-20.6M | $-39.5M | $-31.7M | $-37.6M | $-54.4M | $-48.2M | $-89.6M | $-90.3M | $-123.1M | $-122.2M | |
| Capital Expenditure | $-241.0K | $-507.0K | $-625.0K | $-151.0K | $-355.0K | $-603.0K | $-594.0K | $-589.0K | $-349.0K | $-289.0K | $-288.0K | |
| Financing Cash Flow | $-75.0K | $53.3M | $36.7M | $9.3M | $135.9M | $28.8M | $39.5M | $31.7M | $152.5M | $282.5M | $280.7M |
R&D Spending
R&D (TTM)
$101.1M
R&D Intensity
1955.8%
R&D Growth YoY
-0.8%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.0M | $5.7M | $3.6M | $7.8M | $453.0K | $4.7M | $12.9M | $19.1M | $9.6M | $5.2M | $5.2M | |
| R&D Expense | $23.4M | $31.6M | $36.1M | $37.5M | $28.9M | $54.7M | $64.1M | $120.0M | $95.2M | $101.9M | $101.1M | |
| R&D % of Revenue | 234.4% | 557.3% | 993.4% | 482.8% | 6369.3% | 1155.3% | 496.5% | 629.5% | 988.1% | 1941.8% | 1955.8% | |
| SG&A | $4.2M | $6.1M | $6.9M | $6.6M | $10.8M | $12.8M | $16.2M | $17.0M | $17.9M | $63.1M | $62.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.0M | $5.7M | $3.6M | $7.8M | $453.0K | $4.7M | $12.9M | $19.1M | $9.6M | $5.2M | $5.2M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $10.0M | $5.7M | $3.6M | $7.8M | $453.0K | $4.7M | $12.9M | $19.1M | $9.6M | $5.2M | $5.2M | |
| R&D | $23.4M | $31.6M | $36.1M | $37.5M | $28.9M | $54.7M | $64.1M | $120.0M | $95.2M | $101.9M | $101.1M | |
| SG&A | $4.2M | $6.1M | $6.9M | $6.6M | $10.8M | $12.8M | $16.2M | $17.0M | $17.9M | $63.1M | $62.8M | |
| Operating Income | $-12.7M | $-26.3M | $-34.9M | $-32.5M | $-32.3M | $-57.8M | $-60.2M | $-112.0M | $-98.4M | $-155.6M | $-154.6M | |
| Interest Expense | $-8.0K | $-6.0K | $-5.0K | $-3.0K | $-80.0K | $-156.0K | $-749.0K | $-5.6M | $-12.8M | $-39.3M | $-39.1M | |
| Pretax Income | $-13.2M | $-26.5M | $-37.6M | $-33.6M | $-40.9M | $-55.7M | $-57.5M | $-119.8M | $-192.6M | $-414.7M | $-411.6M | |
| Net Income | $-7.4M | $-22.6M | $-37.6M | $-33.6M | $-40.9M | $-56.1M | $-57.5M | $-120.4M | $-192.9M | $-414.7M | $-411.6M | |
| EPS (Diluted) | -0.47 | -1.46 | -1.83 | -1.42 | -1.20 | -1.44 | -1.39 | -2.65 | -3.23 | -2.23 | -2.95 | |
| EBITDA | $-11.5M | $-24.8M | $-36.1M | $-31.8M | $-38.5M | $-55.3M | $-55.0M | $-111.3M | $-174.4M | $-371.6M | $-367.5M | |
| Shares Out. (M) | 15.74 | 15.52 | 20.54 | 23.52 | 33.88 | 39.17 | 41.45 | 45.35 | 59.78 | 186.80 | 264.76 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $26.2M | $69.9M | $64.5M | $39.8M | $128.6M | $97.8M | $91.9M | $29.4M | $101.1M | $116.3M | $116.3M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $0.00 | $8.9M | $10.0M | $1.1M | $76.0K | $0.00 | $154.0M | $154.0M | |
| Total Current Assets | $43.5M | $79.5M | $81.5M | $54.3M | $161.8M | $130.6M | $112.7M | $52.6M | $116.8M | $286.3M | $286.3M | |
| Total Assets | $51.7M | $88.0M | $90.8M | $63.3M | $169.0M | $137.8M | $122.9M | $75.9M | $124.6M | $292.2M | $292.2M | |
| Total Current Liabilities | $9.4M | $10.7M | $17.2M | $15.4M | $16.9M | $25.8M | $32.5M | $54.7M | $126.4M | $90.6M | $90.6M | |
| Long-Term Debt | $508.0K | $260.0K | $84.0K | $0.00 | $12.2M | $9.9M | $26.9M | $30.4M | $48.5M | $31.4M | $31.4M | |
| Total Liabilities | $14.3M | $14.8M | $20.7M | $17.3M | $33.7M | $37.4M | $74.7M | $110.8M | $236.2M | $325.6M | $325.6M | |
| Stockholders' Equity | $37.4M | $73.2M | $70.1M | $46.0M | $135.3M | $100.4M | $48.2M | $-34.9M | $-111.7M | $-33.4M | $-33.4M | |
| Retained Earnings | $-7.7M | $-22.6M | $-37.6M | $-33.6M | $-40.9M | $-56.1M | $-57.5M | $-120.4M | $-192.9M | $-414.7M | $-414.7M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-15.7M | $-20.1M | $-38.9M | $-31.6M | $-37.2M | $-53.8M | $-47.6M | $-89.0M | $-90.0M | $-122.8M | $-121.9M | |
| Capital Expenditure | $-241.0K | $-507.0K | $-625.0K | $-151.0K | $-355.0K | $-603.0K | $-594.0K | $-589.0K | $-349.0K | $-289.0K | $-288.0K | |
| Free Cash Flow | $-15.9M | $-20.6M | $-39.5M | $-31.7M | $-37.6M | $-54.4M | $-48.2M | $-89.6M | $-90.3M | $-123.1M | $-122.2M | |
| Investing Cash Flow | $18.1M | $7.3M | $-478.0K | $-918.0K | $-10.4M | $-2.0M | $9.4M | $-8.4M | $9.2M | $-156.0M | $-155.5M | |
| Financing Cash Flow | $-75.0K | $53.3M | $36.7M | $9.3M | $135.9M | $28.8M | $39.5M | $31.7M | $152.5M | $282.5M | $280.7M | |
| Issuance of Stock | $0.00 | $53.4M | $37.0M | $9.6M | $123.8M | $28.8M | $9.4M | $33.4M | $60.0M | $241.7M | $240.7M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $124.0K | $0.00 | $0.00 | $0.00 | $12.1M | $0.00 | $32.0M | $0.00 | $26.1M | $0.00 | $0.00 | |
| Payments of Debt | $-199.0K | $-173.0K | $-295.0K | $-307.0K | $-12.2M | $-32.0K | $-1.9M | $-4.5M | $-5.2M | $-7.0M | $-6.9M | |
| Stock Based Comp. | $0.00 | $809.0K | $948.0K | $1.6M | $1.1M | $2.4M | $2.4M | $4.3M | $3.7M | $31.3M | $31.2M | |
| Net Change in Cash | $2.4M | $40.5M | $-2.7M | $-23.2M | $85.0M | $-21.6M | $194.0K | $-65.2M | $72.9M | $3.2M | $2.8M |
Dilution Tracker
Shares outstanding grew 576.0% over 5 years — significant dilution
Shares Outstanding
265M
5-Year Share Growth
+576.0%
Stock Issuance (TTM)
$240.7M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 15.74 | 15.52 | 20.54 | 23.52 | 33.88 | 39.17 | 41.45 | 45.35 | 59.78 | 186.80 | 264.76 | |
| YoY Change % | — | -1.4% | 32.4% | 14.5% | 44.0% | 15.6% | 5.8% | 9.4% | 31.8% | 212.5% | 41.7% | |
| Stock Issuance | $0.00 | $53.4M | $37.0M | $9.6M | $123.8M | $28.8M | $9.4M | $33.4M | $60.0M | $241.7M | $240.7M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $809.0K | $948.0K | $1.6M | $1.1M | $2.4M | $2.4M | $4.3M | $3.7M | $31.3M | $31.2M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | -127.6% | -462.6% | -958.7% | -417.5% | -7128.9% | -1220.2% | -466.9% | -587.4% | -1021.9% | -2964.4% | -2990.2% | |
| Net Margin % | -74.6% | -397.8% | -1032.7% | -431.8% | -9028.5% | -1183.5% | -445.7% | -631.8% | -2002.8% | -7900.2% | -7959.7% | |
| EBITDA Margin % | -115.4% | -436.4% | -992.1% | -409.2% | -8503.5% | -1167.4% | -426.1% | -583.9% | -1810.5% | -7079.0% | -7107.6% | |
| FCF Margin % | -159.7% | -363.4% | -1087.2% | -407.8% | -8293.4% | -1148.4% | -373.5% | -470.1% | -937.9% | -2345.3% | -2362.4% | |
| ROE % | -17.7% | -40.8% | -52.4% | -57.9% | -45.1% | -47.6% | -77.4% | -1818.5% | 0.0% | 0.0% | 0.0% | |
| ROA % | -12.6% | -32.3% | -42.0% | -43.6% | -35.2% | -36.6% | -44.1% | -121.2% | -192.5% | -199.0% | -198.2% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S90.98
Historical4.04 / 19.42 / 1354.55
Industry Med.9.49
P/B—
Historical0.58 / 3.10 / 9.36
Industry Med.2.93
EV/EBITDA-2.25
Historical-12.69 / -2.07 / 0.73
Industry Med.13.02
EV/Revenue158.41
Historical-7.25 / 11.73 / 1080.03
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 0.00 | 16.02 | 36.03 | 12.32 | 1065.45 | 109.72 | 15.22 | 10.64 | 14.16 | 164.38 | 90.98 | |
| PB Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 4.14 | 5.56 | 3.90 | 0.00 | 0.00 | 0.00 | 0.00 | |
| EV/EBITDA | 0.00 | -1.09 | -2.16 | -2.69 | -11.05 | -8.06 | -2.61 | -2.19 | -1.00 | -1.86 | -2.25 | |
| EV/Revenue | 0.00 | 4.76 | 21.42 | 10.99 | 940.26 | 94.09 | 11.11 | 12.81 | 18.08 | 131.85 | 158.41 |
Analyst Estimates & Quality
Altman Z-Score
-3.50
Distress
Piotroski F-Score
3
Weak
Beneish M-Score
-4.50
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $1.65M | $20.47M | $119.77M |
| Net Income | $-162.47M | $-185.58M | $-174.45M |
| EPS | -0.82 | -0.90 | -0.72 |
| Book Value per Share | 1.28 | 0.00 | 0.00 |
| Operating Cash Flow per Share | 0.00 | 0.00 | 0.00 |
| Operating CF | $0.00M | $0.00M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Service delivery and clinical stage research, notably into potential therapies in the areas of | $4.5M |
By Geography
| Segment | 2025 |
|---|---|
| China | $4.5M |