Does INNOVEX INTERNATIONAL, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores INNOVEX INTERNATIONAL, INC. (INVX) 36.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 22, returns on capital 13, balance-sheet safety 100, capital discipline 31.

Is INVX stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $11.89 per share versus a recent price of $25.78 — 117% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has INVX's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 36.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

INNOVEX INTERNATIONAL, INC.

INVX · Industrials · $1.8B mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power22

Median gross margin 29.2% over 10y, variable.

Returns on capital13

Median ROIC 2.8%, above the 9% hurdle in 38% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline31

Owner earnings -1.9%/yr, share count n/a.

Margin of safety

Above valueOn sale

117% above value

Owner earnings (normalized): $73.9M
Est. intrinsic value / share: $11.89
Recent price: $25.78
Discount to value: 117% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

19 years of fundamentals

The business, in plain English

INNOVEX INTERNATIONAL, INC. booked $978.3M of revenue in FY2025 in the Industrials sector and kept 31.0% of it as gross profit — a moderate-margin business by that measure. After every other cost, 8.5% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $542.8M (FY2008) to $978.3M (FY2025) — about 3.5% a year compounded over 17 years.

It earned 9.8% on invested capital in FY2025, with a median of 14.9% across 16 filed years. The Returns on Capital filter above scores it 13/100.

The balance sheet carried $25.6M of total debt in FY2025 against $83.3M of owner earnings — roughly 0.3 years of owner earnings to retire it all. Balance-Sheet Safety scores it 100/100.

The share count rose 74.2% between FY2009 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 31/100.

Put together: Balance-Sheet Safety is the strongest of the four filters (100/100) and Returns on Capital the weakest (13/100), which is how INVX lands at 37/100 — a None moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$978.3M FY2025

Gross marginRevenue kept after cost of goods31.0% FY2025

Return on invested capitalOperating profit on the capital employed9.8% FY2025

Owner earningsCash an owner could take out$83.3M FY2025

Gaps in a line mean that item isn’t in INVX’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale36.8 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — INVX has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Industrials context

#164 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#162GHM GRAHAM CORPORATION37.9 out of 100, No moatNo moat
#163EML THE EASTERN COMPANY37.8 out of 100, No moatNo moat
#165KLNG KOIL ENERGY SOLUTIONS, INC.36.8 out of 100, No moatNo moat
#166NWPX NWPX Infrastructure, Inc.36.4 out of 100, No moatNo moat

Compare INVX with its nearest peers →All Industrials companies on the Index →

Common questions about INVX

Does INNOVEX INTERNATIONAL, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores INNOVEX INTERNATIONAL, INC. (INVX) 36.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 22, returns on capital 13, balance-sheet safety 100, capital discipline 31.
Is INVX stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $11.89 per share versus a recent price of $25.78 — 117% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has INVX's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 36.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell INVX. See the disclaimer.