Innoviva vs Xeris Biopharma Holdings
Innoviva is the larger business, with $411m of revenue in fiscal 2025 against $292m for Xeris Biopharma Holdings (1.4 times as much). Xeris Biopharma Holdings grew faster (43.7% against 14.7%). Innoviva kept more of each dollar of sales as profit: a net margin of 65.9% against 0.2%. Innoviva carries less debt relative to equity (22.3% against 1706.3%).
| Latest fiscal year | InnovivaINVA, 2025 | Xeris Biopharma HoldingsXERS, 2025 |
|---|---|---|
| Revenue | $411m | $292m |
| Revenue growth | 14.7% | 43.7% |
| Net income | $271m | $554,000 |
| Operating margin | 39.8% | 8.5% |
| Net margin | 65.9% | 0.2% |
| Return on equity | 29.1% | — |
| Free cash flow | $196m | $28.6m |
| Cash | $551m | $111m |
| Total debt | $261m | $234m |
| Debt to equity | 22.3% | 1706.3% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $4.5m | — |
| Employees | 159 | 435 |
| Market value | $1.53bn | $1.81bn |
| Price vs our value range | Below our value range | — |
| Moat score | 80 (Strong) | 15 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 33 sales |