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About

Inotiv, Inc. provides nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries in the United States, the Netherlands, and internationally. The company operates through two segments, Discovery and Safety Assessment (DSA) and Research Models and Services (RMS). The DMS segment manufactures scientific instruments for life sciences research and the related software for use by pharmaceutical companies, universities, government research centers, and medical research institutions under the company's BASi product line. The RMS segment engages in commercial production and sales of research models, diets, bedding, and bioproducts. The company was formerly known as Bioanalytical Systems, Inc. and changed its name to Inotiv, Inc. in March 2021. Inotiv, Inc. was incorporated in 1974 and is headquartered in West Lafayette, Indiana.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Diagnostics & Research Market Cap 9.12M
Enterprise Value 472.36M Income -69.37M Sales 514.03M
Book/sh 3.17 Cash/sh 0.37 Dividend Yield —
Payout 0.00% Employees 1945 IPO —
P/E — Forward P/E -5.30 PEG —
P/S 0.02 P/B 0.08 P/C —
EV/EBITDA 26.71 EV/Sales 0.92 Quick Ratio 0.17
Current Ratio 0.30 Debt/Eq 436.57 LT Debt/Eq —
EPS (ttm) -1.92 EPS next Y -0.05 EPS Growth —
Revenue Growth 0.80% Earnings 2026-05-06 ROA -3.14%
ROE -49.76% ROIC — Gross Margin 23.49%
Oper. Margin -13.36% Profit Margin -13.50% Shs Outstand 34.40M
Shs Float 31.79M Short Float 6.35% Short Ratio 6.52
Short Interest — 52W High 4.29 52W Low 0.25
Beta 4.16 Avg Volume 463.94K Volume 295.11K
Target Price $3.25 Recom None Prev Close $0.28
Price $0.27 Change -4.64%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$3.25
Mean price target
2. Current target
$0.27
Latest analyst target
3. DCF / Fair value
$-1.89
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$0.27
Low
$1.50
High
$5.00
Mean
$3.25

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-10 main Lake Street Buy → Buy $2
2025-12-04 main Lake Street Buy → Buy $3
2025-05-08 main Lake Street Buy → Buy $5
2024-09-30 up Lake Street Hold → Buy $4
2024-05-16 down Lake Street Buy → Hold $2
2024-05-16 main Craig-Hallum Buy → Buy $10
2024-05-14 down Jefferies Buy → Hold $4
2024-02-09 up Jefferies Hold → Buy $12
2023-12-12 main Craig-Hallum Buy → Buy $25
2023-07-20 init Wells Fargo — → Overweight $9
2023-01-19 down Jefferies Buy → Hold $8
2023-01-11 up Lake Street Hold → Buy $10
2022-11-18 down Lake Street Buy → Hold $7
2022-10-04 init Jefferies — → Buy $27
2022-08-11 main Lake Street — → Buy $60
2022-01-31 init Lake Street — → Buy $60
2021-09-20 init Craig-Hallum — → Buy $45
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 2119 616 — Sale at price 0.29 per share. SAGARTZ JOHN E Officer — 2026-02-17 00:00:00 D
1 16810 4964 — Sale at price 0.30 per share. LEASURE ROBERT JR. Chief Executive Officer — 2026-02-17 00:00:00 D
2 2888 846 — Sale at price 0.29 per share. TAYLOR BETH A Chief Financial Officer — 2026-02-17 00:00:00 D
3 113297 57034 — Sale at price 0.50 per share. LEASURE ROBERT JR. Chief Executive Officer — 2026-02-02 00:00:00 D
4 2000 1771 — Sale at price 0.89 per share. NEFF R MATTHEW Director — 2025-12-01 00:00:00 D
5 2000 2487 — Sale at price 1.24 per share. NEFF R MATTHEW Director — 2025-11-03 00:00:00 D
6 10000 19400 — Conversion of Exercise of derivative security at price 1.94 per share. NEFF R MATTHEW Director — 2025-10-24 00:00:00 D
7 2000 2858 — Sale at price 1.43 per share. NEFF R MATTHEW Director — 2025-10-01 00:00:00 D
8 2000 3338 — Sale at price 1.67 per share. NEFF R MATTHEW Director — 2025-09-02 00:00:00 D
9 2000 3818 — Sale at price 1.91 per share. NEFF R MATTHEW Director — 2025-08-01 00:00:00 D
Financials
Line Item2025-09-302024-09-302023-09-302022-09-30
TaxEffectOfUnusualItems1.33M-5.33M-11.27M-12.20M
TaxRateForCalcs0.220.170.160.04
NormalizedEBITDA18.66M5.19M45.71M10.28M
TotalUnusualItems6.10M-31.94M-72.22M-283.70M
TotalUnusualItemsExcludingGoodwill6.10M-31.94M-72.22M-283.70M
NetIncomeFromContinuingOperationNetMinorityInterest-68.62M-108.44M-105.14M-337.02M
ReconciledDepreciation55.93M57.12M54.72M49.32M
ReconciledCostOfRevenue392.04M379.57M390.48M372.01M
EBITDA24.75M-26.76M-26.51M-273.42M
EBIT-31.18M-83.88M-81.22M-322.75M
NetInterestIncome-56.59M-46.88M-43.02M-29.70M
InterestExpense56.59M46.88M43.02M29.70M
NormalizedIncome-73.39M-81.84M-44.19M-65.51M
NetIncomeFromContinuingAndDiscontinuedOperation-68.62M-108.44M-105.14M-337.02M
TotalExpenses550.02M545.20M581.66M527.40M
TotalOperatingIncomeAsReported-30.90M-86.41M-81.46M-263.45M
DilutedAverageShares32.45M25.90M25.64M24.35M
BasicAverageShares32.45M25.90M25.64M24.35M
DilutedEPS-2.11-4.19-4.10-13.84
BasicEPS-2.11-4.19-4.10-13.84
DilutedNIAvailtoComStockholders-68.62M-108.44M-105.14M-337.02M
AverageDilutionEarnings-8.32M
NetIncomeCommonStockholders-68.62M-108.44M-105.14M-337.02M
NetIncome-68.62M-108.44M-105.14M-337.02M
MinorityInterests0.00440.00K-238.00K244.00K
NetIncomeIncludingNoncontrollingInterests-68.62M-108.89M-104.90M-337.26M
NetIncomeContinuousOperations-68.62M-108.89M-104.90M-337.26M
TaxProvision-19.14M-21.88M-19.34M-15.19M
PretaxIncome-87.77M-130.76M-124.24M-352.45M
OtherIncomeExpense5.82M-29.41M-71.98M-343.00M
OtherNonOperatingIncomeExpenses-273.00K2.53M237.00K-59.29M
SpecialIncomeCharges6.10M-31.94M-72.22M-283.70M
OtherSpecialCharges-7.55M28.50M
ImpairmentOfCapitalAssets0.000.0066.37M236.00M
RestructuringAndMergernAcquisition1.45M3.44M5.85M47.70M
GainOnSaleOfSecurity762.00K
NetNonOperatingInterestIncomeExpense-56.59M-46.88M-43.02M-29.70M
InterestExpenseNonOperating56.59M46.88M43.02M29.70M
OperatingIncome-37.00M-54.46M-9.24M20.25M
OperatingExpense157.98M165.63M191.18M136.96M
OtherOperatingExpenses9.81M10.60M12.68M6.99M
DepreciationAmortizationDepletionIncomeStatement55.93M57.12M54.72M30.89M
DepreciationAndAmortizationInIncomeStatement55.93M57.12M54.72M30.89M
Amortization55.93M57.12M54.72M30.89M
AmortizationOfIntangiblesIncomeStatement55.93M57.12M54.72M30.89M
ResearchAndDevelopment405.00K
SellingGeneralAndAdministration92.24M97.92M123.78M99.09M
SellingAndMarketingExpense21.14M20.88M19.07M16.65M
GeneralAndAdministrativeExpense71.10M77.03M104.71M82.44M
OtherGandA71.10M77.03M104.71M82.44M
GrossProfit120.98M111.17M181.94M157.21M
CostOfRevenue392.04M379.57M390.48M390.44M
TotalRevenue513.02M490.74M572.42M547.66M
OperatingRevenue513.02M490.74M572.42M547.66M
Line Item2023-09-30
TreasurySharesNumber0.00
OrdinarySharesNumber34.36M26.02M25.78M25.60M
ShareIssued34.36M26.02M25.78M25.60M
NetDebt383.38M371.91M342.25M335.14M
TotalDebt459.29M445.77M417.64M386.49M
TangibleBookValue-198.46M-198.18M-133.56M-143.34M
InvestedCapital541.15M563.84M646.90M714.03M
WorkingCapital-362.19M44.37M81.61M68.88M
NetTangibleAssets-198.46M-198.18M-133.56M-143.34M
CapitalLeaseObligations54.16M52.43M39.90M32.84M
CommonStockEquity136.03M170.50M269.15M360.37M
TotalCapitalization136.03M560.30M638.95M691.05M
TotalEquityGrossMinorityInterest136.03M170.50M268.49M359.77M
MinorityInterest0.00-664.00K-606.00K0.00
StockholdersEquity136.03M170.50M269.15M360.37M
GainsLossesNotAffectingRetainedEarnings2.23M1.41M330.00K-5.50M
OtherEquityAdjustments2.23M1.41M330.00K-5.50M
RetainedEarnings-630.81M-562.16M-453.28M-348.28M
AdditionalPaidInCapital756.06M724.79M715.70M707.79M
CapitalStock8.55M6.47M6.41M6.36M
CommonStock8.55M6.47M6.41M6.36M
PreferredStock0.00
TotalLiabilitiesNetMinorityInterest635.09M610.86M588.04M603.13M
TotalNonCurrentLiabilitiesNetMinorityInterest78.30M491.81M455.85M439.04M
OtherNonCurrentLiabilities13.29M17.56M6.37M6.48M
NonCurrentDeferredLiabilities18.24M44.01M50.06M77.03M
NonCurrentDeferredRevenue12.66M16.97M
NonCurrentDeferredTaxesLiabilities5.57M27.04M50.06M77.03M
LongTermDebtAndCapitalLeaseObligation46.77M430.24M399.41M355.53M
LongTermCapitalLeaseObligation46.77M40.44M29.61M24.85M
LongTermDebt389.80M369.80M330.68M154.21M
CurrentLiabilities556.78M119.04M132.19M164.10M
OtherCurrentLiabilities7.52M4.73M5.24M11.91M
CurrentDeferredLiabilities51.51M41.99M55.62M68.64M
CurrentDeferredRevenue51.51M41.99M55.62M68.64M
CurrentDebtAndCapitalLeaseObligation412.51M15.52M18.23M30.96M
CurrentCapitalLeaseObligation7.39M11.98M10.28M7.98M
CurrentDebt405.12M3.54M7.95M22.98M
OtherCurrentBorrowings402.12M3.54M7.95M7.98M
LineOfCredit3.00M0.000.0015.00M
PensionandOtherPostRetirementBenefitPlansCurrent12.83M10.85M12.97M17.46M
PayablesAndAccruedExpenses72.41M45.95M40.13M35.12M
CurrentAccruedExpenses20.39M8.02M2.98M5.23M
InterestPayable4.39M3.02M2.98M5.23M
Payables52.02M37.94M37.16M29.89M
OtherPayable4.89M
TotalTaxPayable3.49M4.41M4.60M1.20M
AccountsPayable48.53M33.53M32.56M28.70M
TotalAssets771.11M781.36M856.53M962.90M
TotalNonCurrentAssets576.52M617.95M642.73M729.92M
OtherNonCurrentAssets1.65M1.90M3.36M3.06M
DefinedPensionBenefit2.77M3.14M3.04M1.57M
NonCurrentPrepaidAssets6.08M3.68M2.89M0.00
NonCurrentNoteReceivables7.64M6.08M
GoodwillAndOtherIntangibleAssets334.48M368.68M402.71M503.71M
OtherIntangibleAssets240.20M274.40M308.43M345.89M
Goodwill94.29M94.29M94.29M157.82M
NetPPE229.98M238.15M229.93M218.69M
AccumulatedDepreciation-114.06M-94.19M-74.64M-55.45M
GrossPPE344.04M332.34M304.57M274.14M
ConstructionInProgress16.78M9.49M25.80M40.52M
OtherProperties52.56M53.17M42.53M32.49M
MachineryFurnitureEquipment104.64M98.42M84.59M70.53M
BuildingsAndImprovements142.15M140.49M120.93M110.57M
LandAndImprovements27.91M30.77M30.71M20.02M
Properties0.000.000.000.00
CurrentAssets194.59M163.41M213.80M232.98M
OtherCurrentAssets6.77M4.86M6.82M8.25M
AssetsHeldForSaleCurrent0.001.42M0.00
RestrictedCash0.00465.00K18.00M
PrepaidAssets22.90M41.51M23.55M33.87M
Inventory45.74M18.17M56.10M71.44M
InventoriesAdjustmentsAllowances-2.62M-2.80M-3.24M-3.49M
OtherInventories41.67M14.87M52.52M68.06M
FinishedGoods5.03M4.17M4.44M4.93M
WorkInProcess0.0061.00K124.00K186.00K
RawMaterials1.65M1.87M2.26M1.76M
Receivables97.45M77.44M90.42M100.44M
ReceivablesAdjustmentsAllowances-6.40M-6.93M-7.45M-6.27M
OtherReceivables27.42M14.62M17.21M17.47M
TaxesReceivable2.26M2.60M1.81M366.00K
NotesReceivable0.001.28M1.23M0.00
AccountsReceivable74.16M65.87M77.62M88.87M
AllowanceForDoubtfulAccountsReceivable-668.00K
GrossAccountsReceivable21.40M
CashCashEquivalentsAndShortTermInvestments21.74M21.43M35.49M18.52M
CashAndCashEquivalents21.74M21.43M35.49M18.52M
Line Item2025-09-302024-09-302023-09-302022-09-30
FreeCashFlow-27.07M-29.11M380.00K-41.52M
RepaymentOfDebt-27.95M-15.45M-23.07M-59.74M
IssuanceOfDebt26.00M29.00M41.00M274.00M
IssuanceOfCapitalStock27.52M0.000.000.00
CapitalExpenditure-16.61M-22.31M-27.50M-36.30M
InterestPaidSupplementalData38.84M36.14M35.46M17.06M
IncomeTaxPaidSupplementalData749.00K1.84M7.15M479.00K
EndCashPosition21.74M21.43M35.49M18.98M
BeginningCashPosition21.43M35.49M18.98M156.92M
EffectOfExchangeRateChanges-46.00K-98.00K1.51M-2.16M
ChangesInCash355.00K-13.96M15.00M-135.79M
FinancingCashFlow23.70M9.68M15.87M203.15M
CashFlowFromContinuingFinancingActivities23.70M9.68M15.87M203.15M
NetOtherFinancingCharges-1.88M-3.87M-2.06M-11.22M
ProceedsFromStockOptionExercised110.00K118.00K246.00K
NetCommonStockIssuance27.52M0.000.000.00
CommonStockIssuance27.52M0.000.000.00
NetIssuancePaymentsOfDebt-1.95M13.55M17.93M214.26M
NetShortTermDebtIssuance-15.00M15.00M2.14M
ShortTermDebtPayments-21.00M-19.00M0.00
ShortTermDebtIssuance6.00M34.00M2.14M
NetLongTermDebtIssuance-1.95M13.55M17.93M199.26M
LongTermDebtPayments-27.95M-15.45M-23.07M-40.74M
LongTermDebtIssuance26.00M29.00M41.00M240.00M
InvestingCashFlow-12.89M-16.83M-28.75M-333.72M
CashFlowFromContinuingInvestingActivities-12.89M-16.83M-28.75M-333.72M
NetOtherInvestingChanges-2.37M
NetBusinessPurchaseAndSale0.00-297.71M-41.59M
PurchaseOfBusiness0.00-297.71M-41.59M
NetPPEPurchaseAndSale3.72M5.48M1.11M290.00K
SaleOfPPE3.72M5.48M1.11M290.00K
CapitalExpenditureReported-16.61M-22.31M-27.50M-36.30M
OperatingCashFlow-10.46M-6.80M27.88M-5.22M
CashFlowFromContinuingOperatingActivities-10.46M-6.80M27.88M-5.22M
ChangeInWorkingCapital-1.14M52.60M16.96M-40.28M
ChangeInOtherWorkingCapital1.38M13.81M-15.48M32.19M
ChangeInPayablesAndAccruedExpense26.39M2.77M-2.38M6.62M
ChangeInAccruedExpense14.05M2.16M-8.34M14.66M
ChangeInPayable12.34M613.00K5.96M-8.04M
ChangeInAccountPayable12.34M613.00K5.96M-8.04M
ChangeInTaxPayable0.00
ChangeInIncomeTaxPayable0.00
ChangeInPrepaidAssets2.50M-16.36M11.25M-20.05M
ChangeInInventory-27.59M38.21M14.01M-35.20M
ChangeInReceivables-3.83M14.17M9.55M-23.84M
ChangesInAccountReceivables-3.83M14.17M9.55M-23.84M
OtherNonCashItems19.46M10.67M11.44M22.61M
StockBasedCompensation6.03M6.74M7.84M24.20M
ProvisionandWriteOffofAssets-492.00K58.00K1.27M1.31M
AssetImpairmentCharge0.000.0066.37M236.00M
DeferredTax-21.61M-23.25M-25.81M-17.84M
DeferredIncomeTax-21.61M-23.25M-25.81M-17.84M
DepreciationAmortizationDepletion55.93M57.12M54.72M49.32M
DepreciationAndAmortization55.93M57.12M54.72M49.32M
Depreciation6.27M
OperatingGainsLosses-1.86M56.71M-13.21M
GainLossOnInvestmentSecurities56.71M-8.36M
NetIncomeFromContinuingOperations-68.62M-108.89M-104.90M-337.26M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for NOTV
Date User Asset Broker Type Position Size Entry Price Patterns