Inotiv (NOTV)
Market Price (4/15/2026): $0.2402 | Market Cap: $8.3 MilSector: Health Care | Industry: Life Sciences Tools & Services
Inotiv (NOTV)
Market Price (4/15/2026): $0.2402Market Cap: $8.3 MilSector: Health CareIndustry: Life Sciences Tools & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -83% Megatrend and thematic driversMegatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, and Advanced Diagnostics. | Weak multi-year price returns2Y Excs Rtn is -130%, 3Y Excs Rtn is -164% | Penny stockMkt Price is 0.2 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -38 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -7.4% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 5616% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.6% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.2%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.6% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -845% High stock price volatilityVol 12M is 109% Key risksNOTV key risks include [1] significant debt pressures and substantial doubts about its ability to continue as a going concern, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -83% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, and Advanced Diagnostics. |
| Weak multi-year price returns2Y Excs Rtn is -130%, 3Y Excs Rtn is -164% |
| Penny stockMkt Price is 0.2 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -38 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -7.4% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 5616% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -3.6% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.2%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.6% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -845% |
| High stock price volatilityVol 12M is 109% |
| Key risksNOTV key risks include [1] significant debt pressures and substantial doubts about its ability to continue as a going concern, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Inotiv experienced a significant earnings and revenue miss for its first quarter of fiscal year 2026, which ended December 31, 2025, leading to a sharp decline in stock value. The company reported an earnings per share (EPS) of -$0.83, missing analyst expectations of -$0.51 by 62.75%. Additionally, revenue reached $120.9 million, falling short of the anticipated $126.53 million. Following this announcement on February 9, 2026, Inotiv's stock dropped by 19.27% in premarket trading and declined by 13.63% on the day of the news release. The consolidated net loss widened to $28.4 million compared to $27.6 million in the prior year's quarter, and the operating loss increased to $16.3 million from $15.5 million.
2. Persistent liquidity concerns and repeated waivers of debt covenants have created financial instability for Inotiv. As of December 31, 2025, Inotiv reported total debt of $405.8 million, while its cash and cash equivalents decreased to $12.7 million from $21.7 million on September 30, 2025. The company has required multiple waivers from its lenders for its minimum liquidity covenant, specifically for the test dates of March 6, March 13, March 20, March 27, April 3, and April 10, 2026. These short-term waivers indicate ongoing financial stress and a need for continued lender accommodation to avoid default.
Show more
Stock Movement Drivers
Fundamental Drivers
The -56.4% change in NOTV stock from 12/31/2025 to 4/14/2026 was primarily driven by a -56.5% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.56 | 0.24 | -56.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 513 | 514 | 0.2% |
| P/S Multiple | 0.0 | 0.0 | -56.5% |
| Shares Outstanding (Mil) | 34 | 34 | 0.0% |
| Cumulative Contribution | -56.4% |
Market Drivers
12/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| NOTV | -56.4% | |
| Market (SPY) | -5.4% | 44.0% |
| Sector (XLV) | -3.9% | 25.2% |
Fundamental Drivers
The -83.1% change in NOTV stock from 9/30/2025 to 4/14/2026 was primarily driven by a -83.4% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.45 | 0.24 | -83.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 505 | 514 | 1.7% |
| P/S Multiple | 0.1 | 0.0 | -83.4% |
| Shares Outstanding (Mil) | 34 | 34 | 0.0% |
| Cumulative Contribution | -83.1% |
Market Drivers
9/30/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| NOTV | -83.1% | |
| Market (SPY) | -2.9% | 32.9% |
| Sector (XLV) | 7.4% | 18.9% |
Fundamental Drivers
The -88.9% change in NOTV stock from 3/31/2025 to 4/14/2026 was primarily driven by a -87.0% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.21 | 0.24 | -88.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 475 | 514 | 8.2% |
| P/S Multiple | 0.1 | 0.0 | -87.0% |
| Shares Outstanding (Mil) | 27 | 34 | -21.0% |
| Cumulative Contribution | -88.9% |
Market Drivers
3/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| NOTV | -88.9% | |
| Market (SPY) | 16.3% | 45.1% |
| Sector (XLV) | 3.3% | 36.8% |
Fundamental Drivers
The -94.3% change in NOTV stock from 3/31/2023 to 4/14/2026 was primarily driven by a -91.3% change in the company's P/S Multiple.| (LTM values as of) | 3312023 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.33 | 0.24 | -94.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 586 | 514 | -12.3% |
| P/S Multiple | 0.2 | 0.0 | -91.3% |
| Shares Outstanding (Mil) | 26 | 34 | -25.5% |
| Cumulative Contribution | -94.3% |
Market Drivers
3/31/2023 to 4/14/2026| Return | Correlation | |
|---|---|---|
| NOTV | -94.3% | |
| Market (SPY) | 63.3% | 35.6% |
| Sector (XLV) | 20.4% | 28.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NOTV Return | 242% | -88% | -26% | 13% | -86% | -59% | -98% |
| Peers Return | 51% | -22% | 11% | -3% | 25% | -9% | 46% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 81% |
Monthly Win Rates [3] | |||||||
| NOTV Win Rate | 67% | 33% | 58% | 58% | 25% | 25% | |
| Peers Win Rate | 77% | 40% | 52% | 42% | 58% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NOTV Max Drawdown | -6% | -91% | -66% | -65% | -87% | -59% | |
| Peers Max Drawdown | -3% | -38% | -20% | -13% | -24% | -17% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CRL, LH, TMO, MEDP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/14/2026 (YTD)
How Low Can It Go
| Event | NOTV | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -97.1% | -25.4% |
| % Gain to Breakeven | 3324.9% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -47.3% | -33.9% |
| % Gain to Breakeven | 89.7% | 51.3% |
| Time to Breakeven | 238 days | 148 days |
| 2018 Correction | ||
| % Loss | -57.5% | -19.8% |
| % Gain to Breakeven | 135.2% | 24.7% |
| Time to Breakeven | 252 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -93.5% | -56.8% |
| % Gain to Breakeven | 1440.0% | 131.3% |
| Time to Breakeven | 4,162 days | 1,480 days |
Compare to CRL, LH, TMO, MEDP
In The Past
Inotiv's stock fell -97.1% during the 2022 Inflation Shock from a high on 11/19/2021. A -97.1% loss requires a 3324.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Inotiv (NOTV)
AI Analysis | Feedback
1. Inotiv is like a specialized **Charles River Laboratories**, focusing on early drug development services and selling the analytical instruments used in that research.
2. Think of Inotiv as a hybrid of **Agilent Technologies** (known for analytical lab instruments) and **IQVIA** (a large contract research organization), but focused on early-stage, non-clinical drug development.
AI Analysis | Feedback
```html- Drug Discovery & Pharmacological Testing Services: Provides services for early-stage drug discovery, including screening and pharmacological testing.
- Nonclinical Safety & Toxicology Testing Services: Offers comprehensive nonclinical safety, toxicology, and pathology services to assess drug safety.
- Bioanalytical & Pharmacokinetics (PK) Testing Services: Specializes in identifying and measuring drug and metabolite concentrations in complex biological matrices, and analytical method development.
- Formulation Development & Stability Testing Services: Delivers services for developing drug formulations and ensuring the integrity and stability of various solutions.
- Regulatory & Quality Control Services: Assists clients with regulatory compliance, quality control, and climate-controlled archiving for their research data and samples.
- Automated In Vivo Sampling Systems: Manufactures the Culex family and other automated systems for continuous in vivo sampling and dosing, along with accessories and disposables.
- Physiology Monitoring Tools: Develops and markets tools used for monitoring various physiological parameters during research studies.
- Liquid Chromatography & Electrochemistry Instruments: Sells advanced analytical instrument platforms for liquid chromatography and electrochemistry, including associated accessories.
AI Analysis | Feedback
Inotiv, Inc. (NOTV) primarily sells its services and products to other companies, rather than individuals.
Based on the provided information, one specific customer company mentioned is:
- BioVaxys Technology Corp. (OTCMKTS: BVAX) - Inotiv has an agreement to conduct preclinical toxicity studies for BioVaxys' Covid-T Immunodiagnostic program.
Beyond this specific named customer, Inotiv's major customer base comprises a diverse range of companies within the following industries:
- Pharmaceutical industry
- Chemical industry
- Medical device industry
- Contract research organizations
AI Analysis | Feedback
nullAI Analysis | Feedback
```htmlRobert Leasure Jr., Chief Executive Officer, President, and Director
Robert Leasure Jr. has served as Inotiv's CEO, president, and a director since January 2019. He brings over 30 years of experience in turnarounds, restructurings, financings, mergers and acquisitions, and in building and mentoring management teams. Before becoming CEO, Leasure joined the management team of Inotiv's predecessor, BASi, in September 2016 as a consultant with his management consulting firm, LS Associates. In this role, he was instrumental in guiding BASi through restructuring, developing growth strategies, initiating major expansion, and completing acquisitions. Leasure continues to serve as the managing partner and president of LS Associates LLC, a firm he co-founded in 2002, which has worked with over 300 companies in various industries.
Beth A. Taylor, Executive Vice President and Chief Financial Officer
Beth A. Taylor joined Inotiv in March 2020, bringing an extensive background in corporate and operational finance and accounting. She possesses significant experience in business planning, technical accounting, compliance, and investor relations for public companies. Prior to Inotiv, Taylor held progressively responsible Vice President of Finance, Controllership, and other financial leadership positions at companies including Endocyte, Inc., Author Solutions, Inc., Harlan Laboratories, Inc., Republic Airways Holdings, and Rolls-Royce Corporation. She began her career in audit with Deloitte.
Greg Beattie, Chief Operating Officer, DSA
Greg Beattie joined Inotiv in February 2021, contributing more than 30 years of contract research experience, with over two decades in operational leadership roles. Before Inotiv, he held various leadership positions at Charles River Laboratories, including Corporate Vice President roles across their Discovery and Safety Assessment, Research Models and Services, and Manufacturing Support segments. His accomplishments at Charles River Laboratories include leading the expansion of several safety assessment sites, establishing a new business venture (Charles River Accelerator and Development Lab), and integrating and expanding their Global Biologics Testing Solutions business.
John E. Sagartz, DVM, PhD, DACVP, Chief Strategy Officer and Director
John E. Sagartz has served as Inotiv's Chief Strategy Officer since November 2018. He founded and led Seventh Wave Laboratories for over 15 years. In July 2018, Inotiv's predecessor, BASi, acquired Seventh Wave Laboratories, after which Dr. Sagartz joined Inotiv's board of directors. His career began in 1996 as a toxicologic pathologist at Searle/Monsanto, where he advanced through various leadership roles following Monsanto's merger with Pharmacia. After Pfizer's acquisition of Pharmacia in 2003, Dr. Sagartz served as president, chief executive officer, and chief strategy officer at Seventh Wave.
Andrea Castetter, Executive Vice President – General Counsel, Corporate Secretary and Chief Compliance Officer
Andrea Castetter joined Inotiv in October 2023, where she oversees a broad range of legal and compliance matters for the company's global business operations. She brings a wealth of life science industry experience, most recently from Eli Lilly & Company. At Eli Lilly, her roles included Chief Operating Officer & Associate Vice President, and Lead Information Counsel, where she managed intellectual property, information technology, cybersecurity, privacy, and trade secret matters. Castetter also worked as a scientist in research and development for Eli Lilly for eight years prior to her legal career.
```AI Analysis | Feedback
Key Risks to Inotiv (NOTV)
Inotiv, Inc. (NOTV) faces several significant challenges, with its financial health, recent cybersecurity incident, and ongoing operational issues in its research models segment presenting the most critical risks to the business. The most pressing risk for Inotiv is its **significant financial distress**, which includes substantial doubts about its ability to continue as a going concern. The company has reported negative operating cash flows and consistent losses, with a high debt-to-equity ratio and potential non-compliance with financial covenants under its credit agreements. Such non-compliance could lead to the acceleration of debt obligations, severely impacting liquidity and its ability to meet expenditures. Inotiv's auditor, Ernst & Young LLP, has also expressed doubt about the company's ability to continue as a going concern in its December 2025 Form 10-K filing. Recent financial results further underscore these challenges, with the company missing revenue targets and reporting wider-than-expected losses for the first quarter of fiscal year 2026. Secondly, Inotiv is exposed to considerable risk stemming from a **cybersecurity breach** detected in August 2025. The incident involved unauthorized access to its systems, potentially compromising sensitive personal data of current and former employees, their families, and other individuals who interacted with the company. This breach creates significant operational and reputational risks, including potential loss of client trust, remediation costs, and possible regulatory fines, which could further strain its already challenged financial position. Finally, Inotiv faces **ongoing regulatory and operational challenges within its Research Models and Services (RMS) segment**. The company has experienced headwinds from lower non-human primate (NHP) volume sales and associated margin pressures. Historically, Inotiv has encountered operational issues with NHP supply and demand, leading to a substantial fine in 2022. Additionally, the company has faced shareholder class-action lawsuits and SEC investigations related to animal welfare concerns, particularly concerning its acquisition of Envigo RMS, which poses litigation risk and could further damage its reputation. The business is also susceptible to disruptions at the U.S. Food and Drug Administration (FDA) and other government agencies, which could delay product reviews and authorizations, impacting its contract research services.AI Analysis | Feedback
The global regulatory trend towards reducing or replacing animal testing in drug development, exemplified by legislation such as the FDA Modernization Act 2.0, poses an emerging threat. This shift could decrease the demand for Inotiv's core "nonclinical safety testing," "non-clinical toxicology and pathology services," and "in vivo sampling services" within its Contract Research Services segment, as alternative methods gain regulatory acceptance and preference.
AI Analysis | Feedback
Inotiv, Inc. operates within several addressable markets related to drug discovery and development services and research products.
Contract Research Services Segment
- Drug Discovery and Development Services (CRO Market): The global contract research organization (CRO) market was valued at approximately USD 82.74 billion in 2024 and is projected to reach around USD 194.25 billion by 2034, growing at a compound annual growth rate (CAGR) of roughly 8.2% from 2025 to 2034. North America held the largest revenue share in the CRO market, accounting for 44% in 2025.
- Drug Discovery Services: The global drug discovery services market was estimated at USD 21.26 billion in 2024 and is anticipated to exceed USD 79.71 billion by 2034, with a CAGR of 14.13% from 2025 to 2034. The North American market for drug discovery services was valued at over USD 9.35 billion in 2024.
- Nonclinical Safety Testing: The global non-clinical trials market was valued at USD 11 billion in 2024 and is projected to reach USD 15.6 billion by 2030, growing at a CAGR of 5.9% from 2024 to 2030. The global nonclinical safety assessment services market is projected to reach USD 30.09 billion by 2033. The global in vivo toxicology market is estimated at USD 8.66 billion in 2025 and is expected to reach USD 25.90 billion by 2035, growing at a CAGR of 11.58% from 2026 to 2035. The U.S. in vivo toxicology market is estimated at USD 3.02 billion in 2025 and is expected to reach USD 9.14 billion by 2035.
- Bioanalysis and Pharmacokinetics Testing (DMPK/Bioanalytical Testing): The global bioanalytical testing services market was estimated at USD 4.80 billion in 2024 and is projected to reach USD 11.24 billion by 2033, growing at a CAGR of 9.93% from 2025 to 2033. North America dominated this market with the largest revenue share of 47.40% in 2024. The global Drug Metabolism and Pharmacokinetics (DMPK) market was valued at USD 1.2 billion in 2023 and is expected to reach USD 2.6 billion by 2033, with a CAGR of 8.3% from 2024 to 2033. North America accounts for 32.3% of the total revenue in the DMPK market. The pharmacokinetics services market size was USD 1.19 billion in 2023, with North America dominating with a 38.35% market share in 2023.
Research Products Segment
- In Vivo Sampling Systems and Physiology Monitoring Tools: The global in vivo CRO market size was valued at USD 4.98 billion in 2024 and is projected to reach USD 7.96 billion by 2030, growing at a CAGR of 8.13% from 2025 to 2030. North America held the largest market share of 50.00% in 2024. The global in vivo imaging systems market is estimated to be valued at USD 58.6 million in 2025 and is projected to reach USD 80.3 million by 2035. The global in vivo imaging system microscopes market size is projected to reach USD 447.365 million by 2033, growing at a CAGR of 6.113% from 2025 to 2033.
- Liquid Chromatography Instruments: The global high-performance liquid chromatography (HPLC) market generated a revenue of USD 4,961.4 million in 2024 and is expected to reach USD 7,025.4 million by 2030, growing at a CAGR of 6% from 2025 to 2030. North America was the largest revenue-generating market for HPLC in 2024. The global liquid chromatography devices market was valued at USD 4.22 billion in 2024 and is expected to reach USD 5.73 billion by 2032, at a CAGR of 3.90%. North America holds approximately 32.3% of the global liquid chromatography devices market share.
- Electrochemistry Instruments: The global electrochemical instrument market size was valued at USD 1.88 billion in 2025 and is projected to grow to USD 4.57 billion by 2034, exhibiting a CAGR of 10.40%. Another estimate places the global market at USD 2.76 billion in 2024, expected to reach USD 4.01 billion by 2034, expanding at a 3.8% CAGR. North America is poised to account for 25.5% of the global electrochemical instrument market share in 2024.
AI Analysis | Feedback
Inotiv, Inc. (NOTV) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market dynamics:
- Sustained Growth in Discovery and Safety Assessment (DSA) Services: Inotiv expects continued robust performance in its Discovery and Safety Assessment segment. The company reported a 12.0% year-over-year increase in DSA revenue and approximately 27% year-over-year growth in net new DSA awards in the first quarter of fiscal year 2026. DSA backlog also expanded to $145.4 million as of December 31, 2025. This growth is further supported by a strategic focus on services related to biotherapeutics, medical devices, and genetic toxicology. Inotiv anticipates benefiting from ongoing demand for nonclinical research services within the pharmaceutical industry.
- Recovery and Optimization of Research Models and Services (RMS) Segment: Despite recent challenges related to non-human primate (NHP) demand and pricing, Inotiv is projecting a recovery in its Research Models and Services segment. Management anticipates a significant sequential increase in NHP volumes, expecting them to rise 120%-130% in Q4 2024 (from Q3 2024) and surpass Q4 2023 levels. The company also expects improved margins in the RMS segment as lower-cost supply contracts are implemented and inventory turns over. Additionally, Inotiv is undertaking site optimization initiatives, including reducing breeding facilities, which are projected to yield annual cost savings of $6-$7 million. The company also reported a 27% increase in colony management revenue in Q4 2025 over Q4 2024.
- Enhanced Client Relationships and Operational Efficiencies: A core driver for Inotiv is its focus on improving client satisfaction, fostering durable client relationships, and expanding recurring business. The company is prioritizing operational excellence, margin discipline, and the integration of existing services to provide a seamless client experience. Ongoing site optimization and the redesign of its transportation system are also contributing to efficiencies and expense reductions.
- Strategic Collaborations and Technology Integration: Inotiv is actively seeking strategic partnerships to enhance its service offerings. A key example is the collaboration with LifeNet Health to integrate its proprietary TruVivo® system into Inotiv's Discovery and Translational Sciences business. This initiative aims to improve the predictivity of preclinical models by aligning them more closely with human biology, which can lead to the development of safer and more effective therapies and attract new clientele.
AI Analysis | Feedback
Share Issuance
- Inotiv's shares outstanding significantly increased from 11.01 million in 2020 to 21.12 million in 2021, marking a 91.76% change.
- The number of shares outstanding continued to rise, reaching 25.6 million in 2022 (a 21.2% increase from 2021), 25.76 million in 2023 (a 0.63% increase), and 27.16 million in 2024 (a 5.42% increase).
- By the end of 2025, Inotiv had 34.355 million shares outstanding, reflecting a 26.49% increase from 2024, and as of March 2026, the company reported 34.355 million shares outstanding.
Capital Expenditures
- For the first fiscal quarter of 2026 (ended December 31, 2025), capital expenditures totaled $5.2 million.
- In fiscal year 2025 (ended September 30, 2025), Inotiv reported capital expenditures of $16.6 million, a decrease from $22.3 million in fiscal year 2024.
- These capital expenditures have been primarily focused on integration, optimization, and startup investments over the last two years, aimed at benefiting the Discovery, Medical Device, Biotherapeutics, and Genetic Toxicology businesses.
Trade Ideas
Select ideas related to NOTV.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | PGNY | Progyny | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 03272026 | CNC | Centene | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 2.3% | 2.3% | -0.6% |
| 03272026 | OSCR | Oscar Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.0% | 3.0% | -2.6% |
| 03202026 | WAT | Waters | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.4% | -0.4% | -3.3% |
| 03202026 | GILD | Gilead Sciences | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 1.6% | 1.6% | -2.2% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 268.87 |
| Mkt Cap | 14.7 |
| Rev LTM | 4,015 |
| Op Inc LTM | 535 |
| FCF LTM | 682 |
| FCF 3Y Avg | 550 |
| CFO LTM | 738 |
| CFO 3Y Avg | 719 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.2% |
| Rev Chg 3Y Avg | 0.4% |
| Rev Chg Q | 5.6% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Mgn LTM | 10.9% |
| Op Mgn 3Y Avg | 12.0% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 17.5% |
| CFO/Rev 3Y Avg | 17.7% |
| FCF/Rev LTM | 12.9% |
| FCF/Rev 3Y Avg | 11.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 14.7 |
| P/S | 2.2 |
| P/EBIT | 22.6 |
| P/E | 25.3 |
| P/CFO | 13.5 |
| Total Yield | 3.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.5% |
| D/E | 0.3 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 13.5% |
| 3M Rtn | -14.5% |
| 6M Rtn | 0.4% |
| 12M Rtn | 19.2% |
| 3Y Rtn | -9.6% |
| 1M Excs Rtn | 8.5% |
| 3M Excs Rtn | -14.1% |
| 6M Excs Rtn | -5.7% |
| 12M Excs Rtn | -7.9% |
| 3Y Excs Rtn | -77.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Research Models and Services (RMS) | 311 | 349 | 382 | ||
| Discovery and Safety Assessment (DSA) | 180 | 224 | 165 | ||
| Products | 3 | ||||
| Services | 57 | ||||
| Total | 491 | 572 | 548 | 60 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Research Models and Services (RMS) | 44 | -25 | -189 | ||
| Discovery and Safety Assessment (DSA) | 30 | 15 | 22 | ||
| Goodwill impairment loss | 0 | ||||
| Startup costs | -3 | ||||
| Restructuring costs | -3 | ||||
| Other special segment items | -34 | ||||
| Depreciation and amortization of intangible assets | -57 | ||||
| Unallocated corporate expenses | -63 | ||||
| Unallocated Corporate | -72 | -96 | -11 | ||
| Products | -0 | ||||
| Services | 8 | ||||
| Total | -86 | -81 | -263 | -3 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Research Models and Services (RMS) | 514 | 553 | 683 | ||
| Discovery and Safety Assessment (DSA) | 268 | 304 | 280 | 322 | |
| Products | 2 | ||||
| Services | 54 | ||||
| Unallocated Corporate | 6 | ||||
| Total | 781 | 857 | 963 | 322 | 62 |
Price Behavior
| Market Price | $0.24 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 11/25/1997 | |
| Distance from 52W High | -91.9% | |
| 50 Days | 200 Days | |
| DMA Price | $0.32 | $1.06 |
| DMA Trend | down | down |
| Distance from DMA | -23.4% | -76.9% |
| 3M | 1YR | |
| Volatility | 121.3% | 109.7% |
| Downside Capture | 3.23 | 3.07 |
| Upside Capture | 319.93 | 222.21 |
| Correlation (SPY) | 41.8% | 38.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 7.55 | 4.78 | 4.18 | 3.04 | 2.96 | 2.81 |
| Up Beta | 2.56 | 3.71 | 5.36 | 2.73 | 1.97 | 1.96 |
| Down Beta | 2.34 | 2.12 | 2.94 | 1.84 | 3.24 | 3.30 |
| Up Capture | 2156% | 623% | 421% | 175% | 560% | 2866% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 15 | 25 | 47 | 109 | 332 |
| Down Capture | 489% | 422% | 352% | 276% | 180% | 113% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 12 | 25 | 36 | 75 | 136 | 396 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NOTV | |
|---|---|---|---|---|
| NOTV | -83.0% | 109.8% | -1.10 | - |
| Sector ETF (XLV) | 11.9% | 16.0% | 0.52 | 30.5% |
| Equity (SPY) | 24.2% | 12.9% | 1.49 | 39.4% |
| Gold (GLD) | 53.4% | 27.6% | 1.55 | 9.0% |
| Commodities (DBC) | 26.8% | 16.2% | 1.47 | 2.3% |
| Real Estate (VNQ) | 18.7% | 13.8% | 1.00 | 29.7% |
| Bitcoin (BTCUSD) | -6.8% | 42.9% | -0.05 | 32.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NOTV | |
|---|---|---|---|---|
| NOTV | -59.1% | 116.5% | -0.18 | - |
| Sector ETF (XLV) | 6.6% | 14.6% | 0.27 | 27.1% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 34.4% |
| Gold (GLD) | 22.5% | 17.8% | 1.03 | 4.4% |
| Commodities (DBC) | 11.7% | 18.8% | 0.51 | 9.1% |
| Real Estate (VNQ) | 3.9% | 18.8% | 0.11 | 28.2% |
| Bitcoin (BTCUSD) | 5.8% | 56.5% | 0.32 | 19.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NOTV | |
|---|---|---|---|---|
| NOTV | -13.8% | 99.0% | 0.33 | - |
| Sector ETF (XLV) | 9.9% | 16.5% | 0.49 | 16.3% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 23.0% |
| Gold (GLD) | 14.3% | 15.9% | 0.75 | 3.5% |
| Commodities (DBC) | 8.8% | 17.6% | 0.42 | 7.5% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 17.9% |
| Bitcoin (BTCUSD) | 67.7% | 66.9% | 1.07 | 12.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/9/2026 | -13.6% | -31.9% | 8.1% |
| 11/17/2025 | 24.6% | 16.7% | -6.0% |
| 8/6/2025 | -10.5% | -9.6% | -25.1% |
| 5/7/2025 | 10.2% | 1.5% | 33.8% |
| 12/3/2024 | -6.2% | 15.5% | 20.0% |
| 8/8/2024 | -0.6% | -8.9% | -19.9% |
| 5/15/2024 | -4.5% | -8.9% | -21.4% |
| 12/11/2023 | -15.8% | 14.5% | 36.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 11 | 12 |
| # Negative | 10 | 8 | 7 |
| Median Positive | 11.3% | 14.5% | 22.1% |
| Median Negative | -10.8% | -9.3% | -21.4% |
| Max Positive | 38.4% | 53.8% | 58.3% |
| Max Negative | -35.6% | -46.1% | -48.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 12/05/2025 | 10-K |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 12/04/2024 | 10-K |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 12/12/2023 | 10-K |
| 06/30/2023 | 08/11/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 02/14/2023 | 10-Q |
| 09/30/2022 | 01/13/2023 | 10-K |
| 06/30/2022 | 08/12/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Neff, R Matthew | Direct | Sell | 12022025 | 0.89 | 2,000 | 1,771 | 133,771 | Form | |
| 2 | Neff, R Matthew | Direct | Sell | 11042025 | 1.24 | 2,000 | 2,487 | 190,367 | Form | |
| 3 | Neff, R Matthew | Direct | Sell | 10032025 | 1.43 | 2,000 | 2,858 | 207,336 | Form | |
| 4 | Neff, R Matthew | Direct | Sell | 9042025 | 1.67 | 2,000 | 3,338 | 245,484 | Form | |
| 5 | Neff, R Matthew | Direct | Sell | 8042025 | 1.91 | 2,000 | 3,818 | 284,636 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.