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VATE

INNOVATE Corp. Common Stock (VATE) fair value

Industrials · Engineering & Construction · NYSE · United States
$5.60-0.18%
Market cap $76MNext earnings 2026-11-11Updated Oct 21, 2026
Add earnings to calendarGoogle
Our verdict
Trades 71% below our fair value
Price
$5.60
Model fair valueConfidence: low
about $19.26
Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
Not used by alerts or posts.
Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, and Discounted cash flow.
ACCE opinionINNOVATE Corp. Common Stock (VATE)
Fair value (2 models)
Not available
ACCE price target
$6.40
Rating
Not rated
Horizon
12 months
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Price used: $5.60 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, EV/EBITDA comparison, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
51
out of 100
1-year return
+6.5%
Dividend yield
0.00%

INNOVATE Corp. Common Stock in four questions

Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

INNOVATE Corp. (VATE) is a diversified holding company whose operating units span infrastructure and engineering services, with a Fwd PE of 4.9 on an $85M market cap, which is a very low multiple for a business reporting 74.2% revenue growth. The growth is the first thing to test: a figure that high in a construction and engineering business usually reflects acquisitions or project timing rather than organic demand, so the question is how much of it repeats. Gross margin of 15.9% against an operating margin of 8.2% suggests overhead is being carried efficiently, but ROE of -19.1% says the equity base is still absorbing losses, and the balance sheet needs a look before anyone leans on the earnings forecast. At a 54/100 score this is a name for a deeper look on quality and cash conversion, not a conclusion.

AI-assisted·How I use AIWritten Oct 18, 2026
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
  • high
    Heavy leverage on equity
    Debt/Equity of -3.11 signals negative book equity, with ROE at -19.1%. Thin equity cushion means balance-sheet stress could hit the stock hard.
  • moderate
    Earnings flat despite revenue surge
    Revenue grew 74.2% year over year, yet earnings growth was 0.0% and net margin sits at -1.5%. Top-line gains are not reaching the bottom line.
  • moderate
    Quality score deteriorating
    The ACCE score fell 9 points over 90 days, from 63 to 54, with Quality at 26. Fundamentals have weakened since the prior reading.

AI research notes

AI-assisted·How I use AIWritten Oct 21, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
  • Revenue grew 74.2% year over year, far ahead of its 11.7% average annual pace over the past five years.
  • Free cash flow over the last twelve months came to $121M, and the stock's free cash flow yield stands at 147.2%.
  • The forward P/E of 4.9x sits well below the sector median of 23.8x, and the shares trade at $5.60 against an ACCE price target of $6.40.
Why it could disappoint
  • Net margin is negative at -1.5%, and return on equity of -19.1% shows the company is not earning a profit on shareholder capital.
  • Debt to equity of -3.11 signals negative shareholder equity, a balance sheet that leaves little cushion if earnings weaken.
  • The diluted share count rose 0.9% over the last fiscal year, so each share now represents a slightly smaller slice of the business.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Next results

Nov 11, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle

Walk me through this stock

Plain-English pros, cons, and what to watch. Pro feature.

PRO

Ask ACCE

Valuation

INVESTOR
Where VATE's valuation models land
Price
$5.60
Model fair valueConfidence: low
about $19.26
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
P/E comparison
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See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.

Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

No analyst coverage yet.
Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Press releases mentioning this company

Recent performance

1 week
-6.7%
1 month
-27.1%
3 months
-32.9%
6 months
-56.9%
YTD
+23.9%
1 year
+6.5%

SEC filings

Recommendation history, last 12 months

DateTypeNewPreviousPrice
15 Oct 2026, 00:00 CESTACCE price target$6.40first publication$6.38
28 Aug 2026, 00:00 CESTFair value$2.02$2.05$7.54
20 Aug 2026, 00:00 CESTFair value$2.05first publication$7.76

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth64Value81Quality26Momentum32Total51
Valuation
Trailing P/E
no data
Forward P/E
no data
PEG
no data
P/B
0.74x
EV / Revenue
0.5x
Book value/sh
$-17.83
Enterprise value
$699M
Profitability
ROE
-19.1%
FCF yield
157.73%
ROIC
no data
Health and risk
Debt / equity
-3.11
Dividend yield
0.00%
Beta
2.44

Price

-0.2% · 1Y

Ask anything about VATE

Answered from INNOVATE Corp. Common Stock fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
ROEbetter than 0% of peers
low -19%-19%high 23%
Div yieldbetter than 17% of peers
low 0.0%0.0%high 5.3%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
VATE INNOVATE Corp. Common Stock$5.60----19.1%2651
INGEVEC.SN IngevecCLP 217.63--10.5x22.6%5682
1929.T Nittoc Construction Co., Ltd.¥1165.00--11.4x12.2%5760
1938.T Nippon Rietec Co.,Ltd.¥2452.00--10.2x9.2%5574
1921.T Tomoe Corporation¥1907.00--10.5x8.8%6265
1945.T Tokyo Energy & Systems Inc.¥1957.00--15.2x6.2%5266
1976.T MEISEI INDUSTRIAL Co.,Ltd.¥1676.00--14.3x8.1%5957

Sector report card

Where VATE ranks against its sector peers on each metric.

Computing percentiles…
  • GlobeNewswire•Oct 5, 2026
    IES Holdings Completes Acquisition of DBM Global
  • GlobeNewswire•Oct 5, 2026
    INNOVATE Completes Sale of DBM Global to IES Holdings
  • GlobeNewswire•Sep 2, 2026
    INNOVATE Announces Closing of the Sale of a Controlling Interest in its Broadcasting Segment to CONX
11 more press releases · full archive on Investor+.INVESTOR
14 filings of 30
June 2026
Jun 1
8-KCurrent reportPeriod 2026-05-29
View on SEC →
May 2026
May 14
8-KCurrent reportPeriod 2026-05-14
View on SEC →
May 14
10-QQuarterly reportPeriod 2026-03-31
View on SEC →
11 more filings + AI summaries on Investor+.INVESTOR