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Innovex International (INVX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Innovex International (INVX) Q3 2026 earnings results →
Q3 2026 Revenue up 10% year over year to $265M · 10¢ of every $1 of revenue kept as net profit · operating margin 12.2%
Innovex International made $265M in Q3 2026 (+10% Y/Y): Product $190M, Leasing $43.4M, Service $31.3M. Operating margin 12.2%, net earnings $26.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $265.1M in Q3 2026, up 10% year over year and up 8% from the previous quarter. Product was the largest line at 72% of revenue. Product added $24.6M year over year (up 15%), 98% of the total change. Service declined 2%.
Operating profit was $32.3M, a 12.2% margin (down 13.8 points year over year). Operating profit fell $30.0M even though revenue rose $25.1M versus Q3 2025, so costs grew faster than sales. Total costs grew 31% against revenue growth of 10%. Net earnings were $26.3M, down 33% year over year. The effective tax rate was 24.4%.
Operating cash flow was $38.8M (down 20% year over year), 148% of net earnings. Non-cash charges added back $16.5M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items used $7.4M. After capital expenditures ($6.4M), free cash flow as the company reports it was $32.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $265M | +10% | 12.2% | $26.3M | $38.8M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $245M | +9% | 13.8% | $25.0M | $37.0M |
| Q1 2026 | 10-Q | May 5, 2026 | $239M | -0.6% | -9.1% | −$16.7M | $19.8M |
| Q4 2025 | 10-K | Feb 24, 2026 | $274M | +9% | 9.4% | $14.0M | $52.2M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $240M | +58% | 26.0% | $39.2M | $48.4M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $224M | +86% | 10.1% | $15.3M | $59.2M |
| Q1 2025 | 10-Q | May 7, 2025 | $240M | +118% | 9.1% | $14.8M | $31.1M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Innovex International
Innovex International, Inc. (NYSE: INVX) is a Houston-based company established in 2024 following the merger of Dril-Quip, Inc. and Innovex Downhole Solutions, Inc. Innovex’s comprehensive portfolio extends throughout the lifecycle of the well, and innovative product integration ensures seamless transitions from one well phase to the next, driving efficiency, lowering costs, and reducing the rig site service footprint for the customer.
In its own words, from its 8-K, filed Aug 3, 2026.
Innovex International against its Oil & Gas Field Machinery & Equipment peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +10% against the peers' median +14%. Operating margin: 12.2% against the peers' median 13.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| INVX Innovex International | Q3 2026 | $265M | +10% | 12.2% |
| BKR Baker Hughes | Q3 2026 | $8.0B | +14% | 6.5% |
| FTI TechnipFMC | Q3 2026 | $2.9B | +9% | 19.5% |
| NOV NOV | Q3 2026 | $2.2B | +2% | 6.4% |
| DNOW Dnow | Q3 2026 | $1.3B | +111% | 2.5% |
| WFRD Weatherford International | Q3 2026 | $1.1B | -7% | 13.4% |
| WHD Cactus | Q3 2026 | $431M | +63% | 21.8% |
| SEI Solaris Energy Infrastructure | Q3 2026 | $341M | +104% | 19.6% |
| FLOC Flowco Holdings | Q3 2026 | $259M | +46% | 18.5% |
Source: Innovex International 10-Q on SEC EDGAR · CIK 1042893 · Oil & Gas Field Machinery & Equipment
Guidance and outlook
13F: who owns INVX and who is buying
More on INVX
- How Innovex International makes money: revenue by segment
- Innovex International next earnings date and what analysts expect
- Innovex International stock forecast, price target and fair value
- Who owns Innovex International stock: holders, funds and Congress trades
- Innovex International guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Innovex International guidance history: guided vs reported
- Innovex International operating margin by quarter
- Innovex International net income by quarter
- Innovex International free cash flow by quarter
- Innovex International capital expenditures by quarter
- Innovex International Product revenue by quarter
- Innovex International Leasing revenue by quarter
- Innovex International Service revenue by quarter