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INNOVATIVE SOLUTIONS & SUPPORT INC

IA Clue Score77
United States Fiscal year ends September CIK 0000836690
$19.41 +1.09% Close, 9 Oct 2026
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Price $19.41 +193.66% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue16.8Operating income−0.1Net income4.6EPS, diluted0.27Fiscal year 2018Revenue13.9 −17.5%Operating income−3.7Net income−3.7 −180.0%EPS, diluted−0.22 −181.5%Fiscal year 2019Revenue17.6 +26.9%Operating income1.5Net income1.9EPS, diluted0.11Fiscal year 2020Revenue21.6 +22.9%Operating income2.7Net income3.3 +76.7%EPS, diluted0.19 +72.7%Fiscal year 2021Revenue23.0 +6.7%Operating income3.9Net income5.1 +54.9%EPS, diluted0.29 +52.6%Fiscal year 2022Revenue27.7 +20.4%Operating income7.2Net income5.5 +9.1%EPS, diluted0.32 +10.3%Fiscal year 2023Revenue34.8 +25.5%Operating income7.4Net income6.0 +9.1%EPS, diluted0.35 +9.4%Fiscal year 2024Revenue47.2 +35.6%Operating income9.7Net income7.0 +16.1%EPS, diluted0.40 +14.3%Fiscal year 2025Revenue84.3 +78.6%Operating income20.1Net income15.6 +123.3%EPS, diluted0.88 +120.0%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 16.8 13.9 17.6 21.6 23.0 27.7 34.8 47.2 84.3
Growth −17.5% +26.9% +22.9% +6.7% +20.4% +25.5% +35.6% +78.6%
Operating income −0.1 −3.7 1.5 2.7 3.9 7.2 7.4 9.7 20.1
Net income 4.6 −3.7 1.9 3.3 5.1 5.5 6.0 7.0 15.6
Growth −180.0% +76.7% +54.9% +9.1% +9.1% +16.1% +123.3%
EPS, diluted 0.27 −0.22 0.11 0.19 0.29 0.32 0.35 0.40 0.88
Growth −181.5% +72.7% +52.6% +10.3% +9.4% +14.3% +120.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin48.4%Operating margin−0.5%Net margin27.2%Free cash flow margin35.2%Fiscal year 2018Gross margin47.2%Operating margin−26.8%Net margin−26.4%Free cash flow margin−31.0%Fiscal year 2019Gross margin56.3%Operating margin8.7%Net margin10.5%Free cash flow margin11.5%Fiscal year 2020Gross margin54.7%Operating margin12.7%Net margin15.1%Free cash flow margin19.7%Fiscal year 2021Gross margin55.5%Operating margin16.9%Net margin22.0%Free cash flow margin18.5%Fiscal year 2022Gross margin60.1%Operating margin26.0%Net margin19.9%Free cash flow margin21.4%Fiscal year 2023Gross margin61.2%Operating margin21.1%Net margin17.3%Free cash flow margin5.2%Fiscal year 2024Gross margin54.9%Operating margin20.5%Net margin14.8%Free cash flow margin10.9%Fiscal year 2025Gross margin48.1%Operating margin23.8%Net margin18.5%Free cash flow margin8.1%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 48.4% 47.2% 56.3% 54.7% 55.5% 60.1% 61.2% 54.9% 48.1%
Operating margin −0.5% −26.8% 8.7% 12.7% 16.9% 26.0% 21.1% 20.5% 23.8%
Net margin 27.2% −26.4% 10.5% 15.1% 22.0% 19.9% 17.3% 14.8% 18.5%
Free cash flow margin 35.2% −31.0% 11.5% 19.7% 18.5% 21.4% 5.2% 10.9% 8.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow6.1Capital expenditure−0.2Free cash flow5.9Fiscal year 2018Operating cash flow−1.7Capital expenditure−2.5Free cash flow−4.3 −172.5%Fiscal year 2019Operating cash flow2.1Capital expenditure−0.1Free cash flow2.0Fiscal year 2020Operating cash flow4.6Capital expenditure−0.3Free cash flow4.3 +109.9%Dividends paid−19.8Fiscal year 2021Operating cash flow4.6Capital expenditure−0.3Free cash flow4.3 +0.0%Dividends paid−19.8Fiscal year 2022Operating cash flow6.1Capital expenditure−0.2Free cash flow5.9 +39.5%Fiscal year 2023Operating cash flow2.1Capital expenditure−0.3Free cash flow1.8 −69.7%Fiscal year 2024Operating cash flow5.8Capital expenditure−0.7Free cash flow5.1 +185.8%Fiscal year 2025Operating cash flow13.3Capital expenditure−6.5Free cash flow6.8 +32.2%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 6.1 −1.7 2.1 4.6 4.6 6.1 2.1 5.8 13.3
Capital expenditure −0.2 −2.5 −0.1 −0.3 −0.3 −0.2 −0.3 −0.7 −6.5
Free cash flow 5.9 −4.3 2.0 4.3 4.3 5.9 1.8 5.1 6.8
Growth −172.5% +109.9% +0.0% +39.5% −69.7% +185.8% +32.2%
Dividends paid n/a n/a n/a −19.8 −19.8 n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash24.7Shareholders’ equity37.6Fiscal year 2018Cash20.4Shareholders’ equity34.2Fiscal year 2019Cash22.4Shareholders’ equity36.2Fiscal year 2020Cash12.6Shareholders’ equity27.8Fiscal year 2021Cash8.3Shareholders’ equity24.6Fiscal year 2022Cash17.3Shareholders’ equity30.7Fiscal year 2023Cash3.1Total debt19.5Net cash (debt)−16.4Shareholders’ equity38.6Debt to equity0.50Fiscal year 2024Cash0.5Total debt28.0Net cash (debt)−27.5Shareholders’ equity46.6Debt to equity0.60Fiscal year 2025Cash2.7Total debt24.1Net cash (debt)−21.4Shareholders’ equity64.6Debt to equity0.37
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 24.7 20.4 22.4 12.6 8.3 17.3 3.1 0.5 2.7
Total debt n/a n/a n/a n/a n/a n/a 19.5 28.0 24.1
Net cash (debt) n/a n/a n/a n/a n/a n/a −16.4 −27.5 −21.4
Shareholders’ equity 37.6 34.2 36.2 27.8 24.6 30.7 38.6 46.6 64.6
Debt to equity n/a n/a n/a n/a n/a n/a 0.50 0.60 0.37

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Sep 2017 FY2018 30 Sep 2018 FY2019 30 Sep 2019 FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 30 Sep 2025
Margins
48.4% 47.2% 56.3% 54.7% 55.5% 60.1% 61.2% 54.9% 48.1%
−0.5% −26.8% 8.7% 12.7% 16.9% 26.0% 21.1% 20.5% 23.8%
28.7% −25.9% 10.5% 13.7% 17.3% 26.5% 21.9% 18.8% 23.7%
27.2% −26.4% 10.5% 15.1% 22.0% 19.9% 17.3% 14.8% 18.5%
35.2% −31.0% 11.5% 19.7% 18.5% 21.4% 5.2% 10.9% 8.1%
Spending
26.5% 25.8% 14.2% 13.7% 11.4% 9.8% 9.0% 8.8% 4.7%
22.3% 48.2% 33.4% 28.2% 27.2% 24.3% 31.1% 25.7% 19.5%
0.9% 18.4% 0.5% 1.6% 1.5% 0.6% 0.9% 1.4% 7.7%
5.1% n/a 0.1% −36.7% −27.4% 24.8% 21.1% 20.9% 21.7%
Returns
12.1% −10.7% 5.1% 11.8% 20.6% 18.0% 15.6% 15.0% 24.2%
11.1% −9.7% 4.8% 7.9% 18.7% 15.9% 9.6% 8.5% 15.1%
Balance and payout
n/a n/a n/a n/a n/a n/a 0.50 0.60 0.37
8.4% 9.2% 6.1% 33.2% 9.2% 11.4% 38.6% 43.4% 37.5%
n/a n/a n/a 605.2% 390.7% n/a n/a n/a n/a
n/a n/a n/a 465.4% 465.4% n/a n/a n/a n/a