Innovate Corp (VATE) - Net Assets
Based on the latest financial reports, Innovate Corp (VATE) has net assets worth $-232.20 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($936.80 Million) and total liabilities ($1.17 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check VATE intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $-232.20 Million |
| % of Total Assets | -24.79% |
| Annual Growth Rate | N/A |
| 5-Year Change | N/A |
| 10-Year Change | -407.73% |
| Growth Volatility | 111.02 |
Innovate Corp - Net Assets Trend (1996–2025)
This chart illustrates how Innovate Corp's net assets have evolved over time, based on quarterly financial data. See VATE days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Innovate Corp (1996–2025)
The table below shows the annual net assets of Innovate Corp from 1996 to 2025. For live valuation and market cap data, see VATE market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $-215.30 Million | -34.73% |
| 2024-12-31 | $-159.80 Million | -4.65% |
| 2023-12-31 | $-152.70 Million | -415.88% |
| 2022-12-31 | $-29.60 Million | -328.99% |
| 2021-12-31 | $-6.90 Million | -101.12% |
| 2020-12-31 | $615.90 Million | +32.39% |
| 2019-12-31 | $465.20 Million | +130.64% |
| 2018-12-31 | $201.70 Million | +6.31% |
| 2017-12-31 | $189.73 Million | +171.18% |
| 2016-12-31 | $69.97 Million | -42.01% |
| 2015-12-31 | $120.65 Million | +6.92% |
| 2014-12-31 | $112.83 Million | +107.38% |
| 2013-12-31 | $54.41 Million | -20.57% |
| 2012-12-31 | $68.50 Million | -32.65% |
| 2011-12-31 | $101.71 Million | +22.49% |
| 2010-12-31 | $83.03 Million | -16.89% |
| 2009-12-31 | $99.91 Million | +121.65% |
| 2008-12-31 | $-461.54 Million | -3.13% |
| 2007-12-31 | $-447.54 Million | +4.42% |
| 2006-12-31 | $-468.25 Million | -98.13% |
| 2005-12-31 | $-236.33 Million | -117.31% |
| 2004-12-31 | $-108.76 Million | -12.86% |
| 2003-12-31 | $-96.37 Million | +42.58% |
| 2002-12-31 | $-167.83 Million | +5.97% |
| 2001-12-31 | $-178.48 Million | -313.26% |
| 2000-12-31 | $83.69 Million | -56.29% |
| 1999-12-31 | $191.49 Million | +66.63% |
| 1998-12-31 | $114.92 Million | +170.23% |
| 1997-12-31 | $42.53 Million | -44.37% |
| 1996-12-31 | $76.44 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Innovate Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 57073400000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Comprehensive Income | $-2.10 Million | % |
| Other Components | $353.80 Million | % |
| Total Equity | $-230.80 Million | 100.00% |
Innovate Corp Competitors by Market Cap
The table below lists competitors of Innovate Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Etoiles Capital Group Co., Ltd. Class A Ordinary Shares
NASDAQ:EFTY
|
$226.95 Million |
|
AS Tallinna Vesi
F:A1T
|
$227.00 Million |
|
Prim S.A.
MC:PRM
|
$227.13 Million |
|
Holiday Entertainment Co Ltd
TW:9943
|
$227.15 Million |
|
Fujian Sanmu Group Co Ltd
SHE:000632
|
$226.84 Million |
|
Bank of Zhengzhou Co. Ltd
F:3BZ
|
$226.76 Million |
|
Universal Microelectronics Co Ltd
TW:2413
|
$226.71 Million |
|
D. P. Abhushan Limited
NSE:DPABHUSHAN
|
$226.71 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Innovate Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from -180,400,000 to -230,800,000, a change of -50,400,000.
- Net loss of 60,600,000 reduced equity.
- Dividend payments of 2,200,000 reduced retained earnings.
- Other comprehensive income increased equity by 1,100,000.
- Other factors increased equity by 11,300,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-60.60 Million | -26.26% |
| Dividends Paid | $2.20 Million | -0.95% |
| Other Comprehensive Income | $1.10 Million | +0.48% |
| Other Changes | $11.30 Million | +4.9% |
| Total Change | $- | % |
Book Value vs Market Value Analysis
This analysis compares Innovate Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1996-12-31 | $5.50 | $20.06 | x |
| 1997-12-31 | $2.33 | $20.06 | x |
| 1998-12-31 | $4.70 | $20.06 | x |
| 1999-12-31 | $6.31 | $20.06 | x |
| 2000-12-31 | $2.11 | $20.06 | x |
| 2001-12-31 | $-3.34 | $20.06 | x |
| 2002-12-31 | $-2.61 | $20.06 | x |
| 2003-12-31 | $-0.98 | $20.06 | x |
| 2004-12-31 | $-1.72 | $20.06 | x |
| 2005-12-31 | $-3.75 | $20.06 | x |
| 2006-12-31 | $-7.42 | $20.06 | x |
| 2007-12-31 | $-7.22 | $20.06 | x |
| 2008-12-31 | $-7.45 | $20.06 | x |
| 2009-12-31 | $9.97 | $20.06 | x |
| 2010-12-31 | $8.15 | $20.06 | x |
| 2011-12-31 | $7.20 | $20.06 | x |
| 2012-12-31 | $4.95 | $20.06 | x |
| 2013-12-31 | $3.87 | $20.06 | x |
| 2014-12-31 | $5.71 | $20.06 | x |
| 2015-12-31 | $4.55 | $20.06 | x |
| 2016-12-31 | $1.87 | $20.06 | x |
| 2017-12-31 | $17.10 | $20.06 | x |
| 2018-12-31 | $18.82 | $20.06 | x |
| 2019-12-31 | $80.38 | $20.06 | x |
| 2020-12-31 | $113.36 | $20.06 | x |
| 2021-12-31 | $-10.93 | $20.06 | x |
| 2022-12-31 | $-13.38 | $20.06 | x |
| 2023-12-31 | $-21.04 | $20.06 | x |
| 2024-12-31 | $-13.77 | $20.06 | x |
| 2025-12-31 | $-17.46 | $20.06 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Innovate Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -4.86%
- • Asset Turnover: 1.31x
- • Equity Multiplier: 0.00x
- Recent ROE (0.00%) is above the historical average (-7.21%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | -11.47% | -5.07% | 1.23x | 1.84x | $-16.41 Million |
| 1997 | -85.22% | -12.93% | 0.78x | 8.42x | $-40.49 Million |
| 1998 | -55.39% | -15.10% | 0.63x | 5.86x | $-75.14 Million |
| 1999 | -58.87% | -13.54% | 0.57x | 7.58x | $-131.88 Million |
| 2000 | -208.69% | -14.56% | 0.69x | 20.89x | $-183.03 Million |
| 2001 | 0.00% | -28.28% | 1.33x | 0.00x | $-288.33 Million |
| 2002 | 0.00% | -3.38% | 1.41x | 0.00x | $-17.82 Million |
| 2003 | 0.00% | 4.25% | 1.71x | 0.00x | $64.39 Million |
| 2004 | 0.00% | -0.78% | 1.78x | 0.00x | $294.60K |
| 2005 | 0.00% | -13.00% | 1.85x | 0.00x | $-130.75 Million |
| 2006 | 0.00% | -23.53% | 2.58x | 0.00x | $-191.13 Million |
| 2007 | 0.00% | 1.74% | 1.96x | 0.00x | $60.49 Million |
| 2008 | 0.00% | -2.79% | 2.71x | 0.00x | $21.12 Million |
| 2009 | 496.05% | 58.60% | 1.46x | 5.80x | $468.25 Million |
| 2010 | -24.04% | -2.50% | 1.49x | 6.48x | $-27.03 Million |
| 2011 | -41.31% | -3.92% | 1.82x | 5.80x | $-48.11 Million |
| 2012 | -65.48% | -17.21% | 0.87x | 4.40x | $-51.70 Million |
| 2013 | -32.37% | -7.63% | 2.63x | 1.61x | $-23.05 Million |
| 2014 | -10.73% | -2.23% | 0.75x | 6.42x | $-23.39 Million |
| 2015 | -33.01% | -3.55% | 0.41x | 22.73x | $-51.89 Million |
| 2016 | -150.65% | -6.76% | 0.55x | 40.52x | $-112.40 Million |
| 2017 | -67.92% | -3.04% | 0.51x | 43.97x | $-57.02 Million |
| 2018 | 157.78% | 7.03% | 0.30x | 73.82x | $130.19 Million |
| 2019 | -8.75% | -2.92% | 0.15x | 19.32x | $-67.51 Million |
| 2020 | -16.13% | -12.83% | 0.11x | 11.79x | $-149.02 Million |
| 2021 | 0.00% | -18.88% | 1.12x | 0.00x | $-219.07 Million |
| 2022 | 0.00% | -2.19% | 1.42x | 0.00x | $-25.53 Million |
| 2023 | 0.00% | -2.47% | 1.36x | 0.00x | $-18.65 Million |
| 2024 | 0.00% | -3.13% | 1.24x | 0.00x | $-16.56 Million |
| 2025 | 0.00% | -4.86% | 1.31x | 0.00x | $-37.52 Million |
Industry Comparison
This section compares Innovate Corp's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $702,422,275
- Average return on equity (ROE) among peers: 2.96%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Innovate Corp (VATE) | $-232.20 Million | -11.47% | N/A | $226.86 Million |
| Arcosa Inc (ACA) | $1.95 Billion | 3.56% | 0.63x | $6.03 Billion |
| Aecom Technology Corporation (ACM) | $2.22 Billion | -2.63% | 1.55x | $8.90 Billion |
| Argan Inc (AGX) | $15.50 Million | -16.64% | 0.63x | $8.69 Billion |
| Ameresco Inc (AMRC) | $336.62 Million | 11.14% | 1.92x | $996.60 Million |
| Api Group Corp (APG) | $633.00 Million | 21.48% | 2.22x | $18.43 Billion |
| Concrete Pumping Holdings Class A (BBCP) | $5.00 Million | -6.35% | 46.26x | $401.56 Million |
| Topbuild Corp (BLD) | $1.15 Billion | 16.57% | 1.26x | $11.34 Billion |
| Blink Charging Co (BLNK) | $-423.25K | 0.00% | 0.00x | $93.38 Million |
| Bowman Consulting Group Ltd (BWMN) | $163.28 Million | -4.06% | 1.47x | $483.57 Million |
| Cadeler A/S (CDLR) | $540.57 Million | 6.57% | 0.24x | $2.09 Billion |
About Innovate Corp
INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. The company operates through the Infrastructure, Life Sciences, and Spectrum segments. The Infrastructure segment provides industrial construction, structural steel, and facility maintenance services, such as fabrication and erection of structural steel and heavy steel pla… Read more