What is InnovAge Holding Corp. worth?
With the base-case assumptions below, a discounted cash flow model on InnovAge Holding Corp.'s reported free cash flow gives $9.02 per share. The share price was $9.00 on September 25, 2026, 0% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 4.0% | 10.0% | $5.67 | -37% |
| Base | 9.0% | 9.0% | $9.02 | +0% |
| Bull | 14.0% | 8.0% | $15.28 | +70% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $11.48 | $12.24 | $13.16 | $14.32 | $15.80 |
| 8.0% | $9.64 | $10.13 | $10.71 | $11.41 | $12.26 |
| 9.0% | $8.30 | $8.64 | $9.02 | $9.47 | $10.01 |
| 10.0% | $7.28 | $7.52 | $7.79 | $8.10 | $8.45 |
| 11.0% | $6.48 | $6.65 | $6.85 | $7.07 | $7.32 |
Where the presets come from
Base: years 1 to 5 grow at InnovAge Holding Corp.'s revenue growth rate over the last 5 fiscal years (9.2% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions