All three tenses have at least two readings, so the archetype blend applies as printed.
All nine metrics read as filed from the record.
What did they actually do?
Has it survived what it has been through?
4 warning events since 2017; the latest 2024-02-26.
From the record
INNOVATE Corp.'s filings since 2017 show 4 warning events: a notice about its exchange listing (8-K item 3.01, 4 times, the latest 2024-02-26) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
-2.5% a year over 10 filed years; profitable in 1 of 10.
From the record
INNOVATE Corp.'s 10 filed years say what it did: revenue went from $1.6 billion in fiscal 2016 to $1.2 billion in fiscal 2025, down 2.5% a year; it rose in 5 of 9 years; the deepest fall was 64% from fiscal 2018 to fiscal 2020; net income was positive in 1 of 10 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
Share count grew 19.5% a year. 3% of cash flow returned. Insiders: 0 sales, 0 purchases.
From the record
Over the 3 fiscal years to 2025-12-31, INNOVATE Corp.'s diluted share count grew about 19.5% a year, and dividends and buybacks returned about 3% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they doing right now?
Is it financially healthy right now?
Leverage 124%: owes 124¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, INNOVATE Corp.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 21 cents per dollar of everything the company owns. Leverage: it owed about 124 cents per dollar of assets, and net share issuance: its share count grew 23.6% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
bottom 29% of 35 in its family; net margin -4.9%.
From the record
INNOVATE Corp.'s standing among 35 graded names in its industry family: revenue of $1.2 billion in fiscal 2025 ranks in the top 41% by size; a net margin of -4.9% ranks in the bottom 21%; revenue growth of -8.7% a year over the last 3 filed years ranks in the bottom 7% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
top 32% of 28 in its family for leadership; chief executive since 2023.
From the record
INNOVATE Corp.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Voigt, Paul (Interim CEO, as filed), filing under that title since 2023-07-27, 3.3 years (bottom 38% of its family); the 6 officers and directors filing in the last fifteen months have been on the record a median of 8.5 years (top 25%); 1 officer or director change was reported on Form 8-K since 2023-11-13, against the 6 people in charge now (top 8%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
top 47% of 32 in its family for room to expand.
From the record
INNOVATE Corp.'s room to grow, from the newest filed statements (fiscal 2025): cash of $112 million against debt of $80 million leaves 3.3% of its assets as net cash, top 41% of its family; cash from operations less capital spending is 11.7% of revenue (top 20%); a gross margin of 16% (bottom 22%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
bottom 41% of 34 in its family for growth drivers.
From the record
INNOVATE Corp.'s growth drivers, from the filed years to fiscal 2025: revenue grew -8.7% a year over the last three filed years against -2.5% over all 10, slowing (bottom 38% of its family); the newest year grew 12.6% (top 16%); capital spending grew -71.1% a year (bottom 2%) (its annual reports). INNOVATE Corp. reported 3 lines of business in fiscal 2025: Infrastructure at $1.2 billion (97%), Spectrum at $23 million (2%), Life Sciences at $13 million (1%); 2 of 3 grew against the year before (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
top 47% of 34 in its family for expectations against reality.
From the record
INNOVATE Corp.'s newest year against its own record: revenue of $1.2 billion in fiscal 2025 came in 36.8% above the $910 million its prior three years' pace pointed to (top 4% of its family); net income of $61 million against a prior three-year average of $35 million (bottom 22%); a net margin of -4.9% against -2.6% before (bottom 43%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made