INVX screens inexpensively at a forward price-to-earnings of 14.7x with a PEG of 0.10, but a 0.7% margin to the analyst consensus target, revenue currently in decline, and an erratic quarterly beat-miss pattern leave no room for error at the current price; the investment case requires a pullback or a demonstrated return to revenue growth before the setup becomes actionable.
Thesis pillars
- Cheap Valuation Erratic Earnings↓Deteriorating
- Revenue Declining Elevated Leverage→Stable
- Price At Analyst Target No Upside↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 24, 2026
Innovex International, Inc. (INVX) Stock Analysis
Breakout setup
Energy · Oil & Gas Equipment & Services
Wait for pullback to $27.18. Price sits above the model's entry target of $27.18; the risk/reward becomes favorable on a pullback. Key risks: Concentration risk — Geographic: NAM market (52.0%); Analyst target reached - limited upside remaining.
Innovex International designs, manufactures, sells, and rents mission-critical engineered products to the global oil and gas industry across well construction, completion, production, intervention, and subsea phases. The company generated approximately $978 million in 2025... Read more
Wait for pullback to $27.18. Price sits above the model's entry target of $27.18; the risk/reward becomes favorable on a pullback. Key risks: Concentration risk — Geographic: NAM market (52.0%); Analyst target reached - limited upside remaining. Chart setup: Golden cross, above all MAs, RSI 64, MACD bullish. Earnings today. Wait until post-earnings. Score 6.0/10, moderate confidence.
Passes 5/8 gates (positive momentum, no SEC red flags, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and clean insider activity and earnings proximity 0d<=7d. Suitability: aggressive.
About Innovex International, Inc.
About Innovex International, Inc.
Innovex International generated approximately $978 million in 2025 revenue, split roughly 52% from North American markets and 48% from International and Offshore regions, serving oil and gas operators across the full well lifecycle. The top ten customer accounts represented 26% of revenue, led by Saudi Aramco as the largest end-user in 2025. The company employs 2,160 people and held approximately 769 U.S. and international patents as of December 31, 2025.
Revenue breaks into product sales (~70%), rental tools (~17%), and services (~13%), with products spanning drilling enhancement, well completion, well construction, production solutions, fishing and intervention, subsea equipment, and surface wellheads. Customers range from IOCs such as Chevron, BP, Shell, and Petrobras to NOCs including Saudi Aramco and Kuwait Oil Company, and multinational oilfield service companies Schlumberger and Baker Hughes. The NAM market—core to Innovex with an estimated 15% market share on a $3.5 billion total addressable market—is concentrated in horizontal unconventional wells and tends to be more cyclically sensitive than the International and Offshore segment, where long-cycle investment horizons provide relative stability at roughly 10% market share on a $4.5 billion TAM. Manufacturing runs across facilities in Texas, Louisiana, Scotland, Singapore, Brazil, Canada, Vietnam, and Saudi Arabia, supplemented by third-party machining. Three acquisitions in 2025—SCF Machining (February, $17.7 million), Citadel Casing Solutions (May, $69.7 million), and the DWS completion—expanded both product lines and low-cost manufacturing capacity.
Show full overview
Commodity price exposure runs directly through the revenue model: the 10-K notes that a majority of product revenue "is based upon product sales at market pricing," exposing Innovex to rapid price reductions during industry downturns, with similar declines observed in 2015, 2016, 2020, and 2025. Separately, tariffs on imported materials from China, Mexico, and Canada could raise input costs the company may not be able to fully offset. Rystad Energy forecasts NAM upstream investment to decline roughly 8% in 2026 relative to 2025, putting near-term pressure on the company's largest revenue segment.
See also: Energy · Oil & Gas Equipment & Services
From Innovex International, Inc.'s most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated 2026-10-29Recent Developments — Innovex International, Inc.
Latest news
- NEWS J.P. Morgan Initiates Innovex International(INVX.US) With Hold Rating, Announces Target Price $33 - Moomoo — Moomoo neutral
- NEWS Is Innovex International, Inc. (INVX) Stock Outpacing Its Oils-Energy Peers This Year? - Yahoo Finance — Yahoo Finance positive
- NEWS Innovex International Inc (INVX) Earnings Forecast: Future EPS & Revenue Growth Estimates - TradingKey — TradingKey neutral
- NEWS Innovex International Inc (INVX) Earnings Forecast: Future EPS & Revenue Growth Estimates - tradingkey.com — tradingkey.com neutral
- NEWS INVX|Innovex International Inc|Price:25.750|Chg%:+0.130 - TradingKey — TradingKey neutral
Generated 2026-10-29T11:14:33Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicNAM market52%10-K Item 1: 'The NAM market made up approximately 52% of our 2025 revenue'
- MEDIUMCustomertop ten accounts26%10-K Item 1: 'In 2025, our top ten accounts constituted 26% of revenue.'
- MEDIUMSupplierfrac plugs and well intervention tools suppliers10-K Item 1A: 'Certain of our product lines, including frac plugs and well intervention tools, depend on a limited number of third-party suppliers and vendors'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Wait for pullback to $27.18. Price sits above the model's entry target of $27.18; the risk/reward becomes favorable on a pullback. Key risks: Concentration risk — Geographic: NAM market (52.0%); Analyst target reached - limited upside remaining. Chart setup: Golden cross, above all MAs, RSI 64, MACD bullish. Earnings today. Wait until post-earnings. Analyst target $29.73 reached (−2.1%), stop $25.83 (−17.6%), A.R:R -0.2:1. Score 6.0/10, moderate confidence.
Analyst target $29.73 reached (−2.1% from $30.37); no take-profit level is published. Analyst target $29.73 reached (−2.1%), stop $25.83 (−17.6%), A.R:R -0.2:1. Stop-loss: $25.83.
Concentration risk — Geographic: NAM market (52.0%); Analyst target reached - limited upside remaining; Insider selling.
Innovex International, Inc. trades at a P/E of 34.1 (forward 16.2). TrendMatrix value score: 6.7/10. Verdict: Buy (Wait for Entry).
11 analysts cover INVX with a consensus score of 4.2/5. Average price target: $34.
What does Innovex International, Inc. do?Innovex International designs, manufactures, sells, and rents mission-critical engineered products to the global oil...
Innovex International designs, manufactures, sells, and rents mission-critical engineered products to the global oil and gas industry across well construction, completion, production, intervention, and subsea phases. The company generated approximately $978 million in 2025 revenue—52% from North American markets and 48% from International and Offshore—across 2,160 employees and 769 patents.