InnovAge Holding Corp. INNV

Competitive advantage analysis · healthcare

Corporate Default
Overall moat score
44/100
Developing

About InnovAge Holding Corp.

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in its homes and communities. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. The company also offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such … Full INNV analysis →

Competitive advantage assessment

Key strengths

  • Operating Leverage in Effect Operating leverage is evident (score 0.67), with margins expanding over time.

Key risks

  • Below-Peer Operating Efficiency Operating margin at 37.3th percentile indicates below-peer efficiency.
  • Liquidity Concerns Liquidity is concerning (score 0.29), raising questions about short-term obligations.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
36

Where INNV ranks in Medical Care Facilities

InnovAge Holding Corp. ranks #30 of 58 scored companies in Medical Care Facilities by moat score — the top 52%. The widest moat in the group is Encompass Health Corporation (EHC) at 77/100.

Moat scores for companies ranked near INNV in Medical Care Facilities
# Company Moat score Rating
26 Acadia Healthcare Company, Inc. ACHC 51/100 Moderate
27 COMPASS Pathways Plc - American CMPS 49/100 Developing
28 Select Medical Holdings Corpora SEM 49/100 Developing
29 LifeStance Health Group, Inc. LFST 48/100 Developing
30 InnovAge Holding Corp. INNV 44/100 Developing
31 Enhabit, Inc. EHAB 43/100 Developing
32 Astrana Health Inc. ASTH 40/100 Developing
33 Cryo-Cell International, Inc. CCEL 40/100 Developing
34 Brookdale Senior Living Inc. BKD 40/100 Developing

See every General Corporate company ranked by moat score →

How INNV scores on the Corporate Default defenses

Pricing Power

Score 36 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 44 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 52 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 35 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 52 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 50 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding INNV's moat

What is InnovAge Holding Corp.'s moat score?

InnovAge Holding Corp. (INNV) scores 44 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #30 of 58 scored companies in Medical Care Facilities, the top 52%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 57 companies in Medical Care Facilities. Its strongest defense is Resilience (52/100) and its weakest is Capital Efficiency (35/100).

How does InnovAge Holding Corp. compare with other Medical Care Facilities companies?

InnovAge Holding Corp. ranks #30 of 58 scored companies in Medical Care Facilities by moat score. The widest moat in Medical Care Facilities is Encompass Health Corporation (EHC) at 77/100. The companies ranked closest are LifeStance Health Group, Inc. (LFST) at 48 just above it and Enhabit, Inc. (EHAB) at 43 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 57 companies in Medical Care Facilities. The defenses are then weighted to produce the overall score out of 100.

Why is InnovAge Holding Corp. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for InnovAge Holding Corp.?

The Corporate Default template measures 6 defenses, and INNV scores: Pricing Power (36), Cost Advantage (44), Customer Stickiness (52), Capital Efficiency (35), Resilience (52), Scale & Market Position (50). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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