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Corteva
(NYSE:CTVA)
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Rating:70Outperform
Price Target:
$91.00
â–²(13.27% Upside)
Action:Reiterated
Date:06/30/26
CTVA scores well on financial strength (notably low leverage and stability) and is supported by a constructive earnings-call outlook with reaffirmed guidance and strong Q1 margin/EBITDA performance. The overall score is held back by expensive valuation (high P/E with a modest yield) and limited technical visibility due to missing indicator data, alongside recent free-cash-flow volatility and ongoing crop protection pricing pressure.
Positive Factors
Conservative balance sheet and low leverage
A conservatively levered balance sheet with roughly $24B equity provides durable financial flexibility to fund R&D, separation costs, pension support and opportunistic buybacks without threatening investment-grade credit. That stability underpins long-term capital allocation and resilience to cyclical agricultural swings.
Negative Factors
Free cash flow decline and volatility
A ~27% TTM decline in free cash flow and recent volatility weaken the predictability of self-funded investments and distributions. That variability complicates funding of separation-related costs, large discretionary pension payments, and ongoing R&D, increasing reliance on balance-sheet flexibility for multi-year strategic plans.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet and low leverage
A conservatively levered balance sheet with roughly $24B equity provides durable financial flexibility to fund R&D, separation costs, pension support and opportunistic buybacks without threatening investment-grade credit. That stability underpins long-term capital allocation and resilience to cyclical agricultural swings.
Read all positive factors
Corteva Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down total revenue by business segment, offering a clear view of which areas drive growth and contribute most to the company's financial health.
Breaks down total revenue by business segment, offering a clear view of which areas drive growth and contribute most to the company's financial health.
Data provided by:
The Fly
The FlyCorteva (CTVA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$57.38B
Dividend Yield1.04%
Average Volume (3M)3.87M
Price to Earnings (P/E)50.2
Beta (1Y)0.49
Revenue Growth6.27%
EPS Growth3.72%
CountryUS
Employees21,500
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)1.71
Shares Outstanding668,820,000
10 Day Avg. Volume5,169,605
30 Day Avg. Volume3,874,541
Financial Highlights & Ratios
PEG Ratio1.82
Price to Book (P/B)1.87
Price to Sales (P/S)2.59
P/FCF Ratio16.03
Enterprise Value/Market Cap0.92
Enterprise Value/Revenue2.96
Enterprise Value/Gross Profit6.32
Enterprise Value/Ebitda16.83
Forecast
1Y Price Target
$92.00Price Target Upside14.51% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)3.74
Revenue Forecast (FY)$18.33B
Corteva Business Overview & Revenue Model
Company Description
Corteva, Inc. operates in the agriculture business. The company operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait tec...
How the Company Makes Money
Corteva makes money primarily by selling agricultural inputs through two major revenue streams. (1) Seed: Corteva sells proprietary seeds (notably corn and soybean, along with other crops) and earns revenue from seed product sales that incorporate...
Corteva Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive tone: strong first-quarter execution (21% EBITDA growth, ~240 bps margin expansion), solid organic growth across Seed and Crop Protection, progress toward royalty-positive status and licensing momentum, and clear separation/capital allocation milestones. Headwinds include crop protection pricing pressure, higher SG&A and bad debt, one-time cash-flow hits (Bayer agreement and separation costs), and geopolitical/energy-related cost risk (a ~$40M H2 headwind). On balance, the positive operational and financial momentum and strategic milestones exceed the outlined near-term challenges.Positive Updates
Strong Q1 Financial Performance
Operating EBITDA grew 21% year-over-year to over $1.4 billion (nearly a $250 million increase) and operating EBITDA margin expanded to >29%, up ~240 basis points, driven by organic growth and productivity.
Negative Updates
Crop Protection Pricing Pressure
Crop Protection price declined ~2% in Q1; company expects crop protection pricing to remain pressured with low single-digit year-over-year declines for the full year (notably in Latin America).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Q1 Financial Performance
Operating EBITDA grew 21% year-over-year to over $1.4 billion (nearly a $250 million increase) and operating EBITDA margin expanded to >29%, up ~240 basis points, driven by organic growth and productivity.
Read all positive updates
Company Guidance
Management reaffirmed full‑year 2026 guidance of operating EBITDA $4.0–$4.2 billion, operating margins of 22%–23% and operating EPS $3.45–$3.70 (≈7% growth at the midpoint), driven by mid single‑digit volume gains for Corteva that more than offset low‑single‑digit pricing pressures (industry CP outlook: low‑single‑digit volume growth); Q1 showed strong underlying momentum with organic sales +7% (Seed +9%, CP +4%), currency ~+4% to sales, operating EBITDA +21% YoY to >$1.4B (margin >29%, +240 bps), seed price/mix +3% and volumes +6% (CP price -2%, volume +6% with double‑digit new‑product and Spinosyn growth). The guide also reflects productivity and input cost benefits (~$70M YTD), a $30M decline in net royalty expense, a $40M oil‑price headwind (primarily back half), ~$50M of dis‑synergies included, an expected ~$350M of one‑time separation costs (mostly 2H), planned ~$500M share repurchases in H1, and a $1.5B discretionary U.S. pension contribution.Corteva Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
82
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.89B | 17.40B | 16.91B | 17.23B | 17.45B | 15.65B |
| Gross Profit | 8.37B | 7.58B | 7.38B | 7.31B | 7.02B | 6.43B |
| EBITDA | 3.15B | 3.07B | 2.73B | 2.54B | 2.73B | 3.62B |
| Net Income | 1.16B | 1.09B | 907.00M | 735.00M | 1.15B | 1.76B |
Balance Sheet | ||||||
| Total Assets | 42.72B | 42.84B | 40.83B | 43.00B | 42.62B | 42.34B |
| Cash, Cash Equivalents and Short-Term Investments | 2.14B | 4.53B | 3.17B | 2.74B | 3.31B | 4.54B |
| Total Debt | 3.36B | 2.58B | 2.70B | 2.49B | 1.31B | 1.12B |
| Total Liabilities | 18.11B | 18.46B | 16.80B | 17.72B | 17.08B | 16.72B |
| Stockholders Equity | 24.36B | 24.14B | 23.79B | 25.04B | 25.30B | 25.38B |
Cash Flow | ||||||
| Free Cash Flow | 2.05B | 2.81B | 1.55B | 1.17B | 267.00M | 2.15B |
| Operating Cash Flow | 2.62B | 3.41B | 2.15B | 1.77B | 872.00M | 2.73B |
| Investing Cash Flow | -586.00M | -543.00M | -589.00M | -1.99B | -632.00M | -362.00M |
| Financing Cash Flow | -2.25B | -1.64B | -1.20B | -99.00M | -1.18B | -1.27B |
Corteva Technical Analysis
Positive
80.34
Price Trends
79.65
Positive
79.49
Positive
72.93
Positive
Market Momentum
1.51
Negative
72.20
Negative
89.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTVA, the sentiment is Positive. The current price of 80.34 is above the 20-day moving average (MA) of 78.95, above the 50-day MA of 79.65, and above the 200-day MA of 72.93, indicating a bullish trend. The MACD of 1.51 indicates Negative momentum. The RSI at 72.20 is Negative, neither overbought nor oversold. The STOCH value of 89.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CTVA.
Corteva Risk Analysis
Corteva disclosed 31 risk factors in its most recent earnings report. Corteva reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Corteva Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $16.98B | 9.91 | 35.17% | 2.56% | 20.85% | 46.79% | |
70 Outperform | $57.38B | 50.18 | 4.67% | 1.04% | 6.27% | 3.72% | |
66 Neutral | $4.01B | 36.24 | -33.72% | 4.52% | -1.89% | 216.52% | |
62 Neutral | $6.63B | 25.34 | 4.32% | 3.36% | 7.80% | -32.94% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | $6.72B | 9.07 | 5.92% | 3.70% | 12.34% | -87.77% | |
46 Neutral | $1.42B | -0.57 | -83.04% | 16.68% | -16.63% | -865.93% |
* Basic Materials Sector Average
CTVA
Corteva
85.80
9.42
12.33%
CF
Cf Industries Holdings
110.54
17.88
19.29%
FMC
FMC
11.35
-31.36
-73.43%
MOS
Mosaic Co
21.13
-14.88
-41.32%
SMG
Scotts Miracle-Gro Company
68.85
3.27
4.98%
ICL
Icl
5.03
-2.05
-28.90%
Corteva Corporate Events
Business Operations and StrategyExecutive/Board Changes
Corteva Details Board for Future Crop Protection Spinoff
Positive
Jun 29, 2026
On June 29, 2026, Indianapolis-based Corteva Inc. outlined the intended board of directors for its future standalone crop protection business, ahead of a planned separation in the fourth quarter of 2026. Greg Page, former Cargill chairman and CEO,...
Executive/Board ChangesShareholder Meetings
Corteva Shareholders Support Directors, Pay and Auditor at Meeting
Positive
May 1, 2026
On April 28, 2026, Corteva, Inc. held its Annual Meeting of Stockholders, with 89.16 percent of eligible shares represented in person or by proxy, reflecting strong shareholder engagement in the company’s governance. At the meeting, stockhol...
Business Operations and StrategyExecutive/Board Changes
Corteva Announces Leadership Changes Ahead of Seed Spin-Off
Positive
Apr 14, 2026
On April 14, 2026, Corteva detailed leadership moves tied to its planned tax-free separation of its seed business, SpinCo, from its crop protection operations, New Corteva, expected in the fourth quarter of 2026. Current CEO Charles Magro and seve...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.