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Inventiva S.A.

IVA
24
Biotechnology · Healthcare
Also trades as: IVA.PA EUR 3.06 (-1.45%) · 0RNK.L GBP 0.03 (-0.32%)
Price
$3.71
+0.11 (+3.06%)
Market Cap
$192.9M
Exchange
NASDAQ
Winston Score
24
Winston is worried
Weak fundamentals across most pillars.
Data as of Oct 25, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
8/30
Growth
Weak
3/20
Cash Flow
Weak
0/10
Stability
Weak
2/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Not counted
n/a

23 of 95 counted points = Winston Score 24. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+376.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 39.2M (2021) → 186.8M (2025)

§Winston Score History

The full picture

Inventiva is a French biotechnology company that discovers and develops drugs for diseases that currently have few or no good treatments. Its main focus is on a condition called MASH (metabolic dysfunction-associated steatohepatitis), which is a serious liver disease linked to obesity and diabetes. The company's lead drug candidate is lanifibranor, which has shown promising results in clinical trials targeting this liver condition.

Inventiva makes money primarily through research partnerships, licensing agreements, and grants rather than selling approved products yet. It is based in Daix, France, and operates mainly in Europe, though its clinical trials are international in scope. With a market cap of around $200 million and a deeply negative operating margin, the company is still in the pre-revenue drug development stage, spending heavily on research. The key risk is that lanifibranor must successfully complete regulatory approval — failure at that stage would significantly threaten the company's future.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-70.7% YoY

YoY Growth Rate

Revenue declining

Reported EPS Growth

+84.0% YoY

Half-year reporting periods ended:

30 Jun 2025: €-1.62

30 Jun 2026: €-0.26

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

€84M/ year

↓ Declining (-8% vs prior year)

>1,000% of revenue

103.6x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

15.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~8 months

€167M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Inventiva S.A. has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
64.9%
Premium pricing power — 64.9% gross margin
Profit after running costs
Operating Margin
-5393.7%
Losing money on operations — -5393.7%
Return on the money invested
ROCE
-115.1%
Weak — -115.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-87.8%
Shrinking sales (-87.8% YoY)
Profit growth
EPS YoY
N/A
—
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
—
Data not available
Spare cash per sale
FCF Margin
-8510.4%
Burning cash (-8510.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
1.13
Elevated debt (1.13)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
—
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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