INNOVAGE HOLDING CORP (INNV)
Health Care · Medicare/Medicaid managed care and integrated elderly care services · NASDAQ
InnovAge operates integrated primary care and chronic disease management centers under the PACE model for frail elderly populations, earning capitated fees from government payors.
What INNOVAGE HOLDING CORP does
InnovAge Holding Corp. operates the Program of All-Inclusive Care for the Elderly (PACE), a Medicare and Medicaid-funded managed care program that delivers integrated primary care, specialty care, hospital and nursing facility services, and social support to frail elderly participants. The company operates adult day centers and participant homes across multiple states, with a primary concentration in Colorado. Revenue is derived primarily from capitated per-participant monthly fees from government payors (Medicare and Medicaid), supplemented by supplemental insurance products.
Themes: ["elderly care / aging population","government healthcare programs (Medicare/Medicaid)","integrated care delivery","chronic disease management","capitated care models"]
Fundamentals
- Price$11.89 as of 2026-07-09 close
- Market cap$1.6B as of 2026-07-10
- 1-year return+171.1% as of 2026-07-09 close
- Net margin-1.2% as of 2026-07-10
- Gross margin+21.8% as of 2026-07-10
- ROE-4.8% as of 2026-07-10
- Debt / equity0.30 as of 2026-07-10
- Revenue growth (YoY)+14.1% as of 2026-07-10
- Revenue CAGR (3y)+6.9% SEC XBRL
- Beta0.38 as of 2026-07-10
Key risks (from latest filing)
["Dependence on limited government payors (Medicare and Medicaid) with risk of sudden loss of contracts or policy changes such as Medicaid reductions from the One Big Beautiful Bill Act","Regulatory and legal risks including ongoing federal and state civil investigative demands and stockholder litigation, plus vulnerability to audit findings that could impact reimbursement","Cost control and margin compression risk: potential for service delivery costs to exceed capitated reimbursement, coupled with labor shortages, inflation, and inability to accurately estimate medical expenses or participant risk scores"]
Competitors & peers
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.