Innovate (VATE) EBITDA Margin (2010 - 2025)
Innovate (VATE) recorded quarterly EBITDA Margin of 5.25% in Q4 2025, up 54.49% quarter-over-quarter from 3.4% in Q3 2025, and up 166.0% on a YoY basis from 1.97% in Q4 2024.
Innovate (VATE) EBITDA Margin (2010 - 2025) Analysis & Trends
Innovate's EBITDA Margin history runs 16 years deep, the most recent figure standing at 5.25% for Q4 2025.
- In Q4 2025, EBITDA Margin rose 166.0% year-over-year to 5.25%; the TTM figure through Dec 2025 stood at 4.14% (down 173.0% YoY), while the FY2025 annual figure was 4.14%, down 173.0% from the prior year.
- EBITDA Margin was 5.25% for Q4 2025 at Innovate, up from 3.4% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 11.24% in Q2 2024 to a low of 3.61% in Q1 2021.
- Historically, EBITDA Margin has averaged 3.2% across 5 years, with a median of 3.32% in 2023.
- The sharpest annual moves came in 2021 and 2025: EBITDA Margin surged 859 bps in 2021, then tumbled 694 bps in 2025.
- A 5-year view of EBITDA Margin shows it stood at 3.6% in 2021, then decreased by 13 bps to 3.13% in 2022, then surged by 81 bps to 5.65% in 2023, then tumbled by 36 bps to 3.59% in 2024, then jumped by 46 bps to 5.25% in 2025.
- The last three EBITDA Margin figures came in at 5.25% (Q4 2025), 3.4% (Q3 2025), and 4.3% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Quanta Services | 103.56 Bn | 103.29 Bn | 1.11 Bn | 4.30% |
| 2 | Comfort Systems Usa | 64.33 Bn | 63.28 Bn | 754.41 Mn | 16.95% |
| 3 | Emcor | 36.81 Bn | 35.90 Bn | 863.95 Mn | 8.73% |
| 4 | Mastec | 27.54 Bn | 27.38 Bn | 477.90 Mn | 5.88% |
| 5 | Sterling Infrastructure | 25.78 Bn | 25.28 Bn | 194.30 Mn | 16.69% |
| 6 | APi | 18.83 Bn | 18.18 Bn | 620.00 Mn | 5.20% |
| 7 | Jacobs Solutions | 14.81 Bn | 13.43 Bn | 794.89 Mn | -2.20% |
| 8 | IES Holdings | 14.35 Bn | 14.09 Bn | 254.79 Mn | 11.52% |
| 9 | Dycom Industries | 13.61 Bn | 12.90 Bn | - | - |
| 10 | Innovate | 231.31 Mn | 133.11 Mn | 58.90 Mn | 5.25% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 5.25% |
| Sep 30, 2025 | 3.40% |
| Jun 30, 2025 | 4.30% |
| Mar 31, 2025 | 3.39% |
| Dec 31, 2024 | 3.59% |
| Sep 30, 2024 | 4.95% |
| Jun 30, 2024 | 11.24% |
| Mar 31, 2024 | 2.95% |
| Dec 31, 2023 | 5.65% |
| Sep 30, 2023 | 4.48% |
| Jun 30, 2023 | 3.25% |
| Mar 31, 2023 | 0.72% |
| Dec 31, 2022 | 3.13% |
| Sep 30, 2022 | 3.12% |
| Jun 30, 2022 | 1.50% |
| Mar 31, 2022 | 1.72% |
| Dec 31, 2021 | 3.60% |
| Sep 30, 2021 | 2.25% |
| Jun 30, 2021 | -0.98% |
| Mar 31, 2021 | -3.61% |