Civeo Corp (CVEO)
NYSE:CVEO
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Civeo
(NYSE:CVEO)
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Rating:56Neutral
Price Target:
$30.00
▲(12.44% Upside)
Action:ReiteratedDate:03/05/26
The score is held back primarily by weak financial fundamentals (net losses, thin profitability, weaker free cash flow, and higher leverage). Offsetting this are solid technical momentum (price above major moving averages with positive MACD) and a constructive earnings call with credible 2026 guidance and continued buybacks, though valuation remains constrained by lack of profitability.
Positive Factors
Australia segment scale
Civeo's Australia business is a durable revenue engine, delivering record 2025 revenue and high billed-room volumes. Scale there and multi-year client relationships reduce per-unit cost, support margin stability, and provide a large, repeatable earnings base less tied to single-project timing.
Negative Factors
GAAP unprofitability
Civeo remains unprofitable on a GAAP basis, which is a structural weakness: recurring net losses erode equity, limit retained earnings, and constrain strategic flexibility. Sustained GAAP losses can hinder ability to invest, raise debt on favorable terms, or withstand commodity-driven demand swings.
Read all positive and negative factors
Positive Factors
Negative Factors
Australia segment scale
Civeo's Australia business is a durable revenue engine, delivering record 2025 revenue and high billed-room volumes. Scale there and multi-year client relationships reduce per-unit cost, support margin stability, and provide a large, repeatable earnings base less tied to single-project timing.
Read all positive factors
Civeo (CVEO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$292.15M
Dividend Yield4.25%
Average Volume (3M)42.56K
Price to Earnings (P/E)―
Beta (1Y)0.13
Revenue Growth-10.51%
EPS Growth-247.97%
CountryUS
Employees2,600
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-0.56
Shares Outstanding10,950,296
10 Day Avg. Volume48,128
30 Day Avg. Volume42,561
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)1.66
Price to Sales (P/S)0.45
P/FCF Ratio134.71
Enterprise Value/Market Cap1.79
Enterprise Value/Revenue0.82
Enterprise Value/Gross Profit6.68
Enterprise Value/Ebitda6.75
Forecast
1Y Price Target
$37.00Price Target Upside38.68% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.12
Revenue Forecast (FY)$677.20M
Civeo Business Overview & Revenue Model
Company Description
Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile accommodations, including modular, skid-mounted accommodation, and c...
How the Company Makes Money
Civeo generates revenue primarily through its accommodation services, where it charges clients for lodging and related services provided at its remote housing facilities. Key revenue streams include room rentals, catering services, and facility ma...
Civeo Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 24, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution in Australia, a meaningful margin recovery in Canada, significant progress on share repurchases, and improved adjusted EBITDA and Q4 operating cash flow—these are substantial positives. Offsetting these are a full-year revenue decline driven by weak Canadian activity, ongoing net loss on a GAAP basis, commodity price sensitivity in Australia, and timing uncertainty for new asset deployments tied to customer FIDs. On balance, the magnitude of profitability and cash-flow improvements, the completion of a large share buyback program, and constructive 2026 guidance outweigh the key challenges, though risks remain related to commodity cycles and project timing.Positive Updates
Share Repurchase Progress
Repurchased ~2,300,000 common shares for approximately $54,000,000 in 2025 (≈17% of shares outstanding) and repurchased an additional ~500,000 shares subsequent to year-end, reaching ~95% completion of the current buyback authorization; new authorization announced to purchase up to 10% of outstanding shares after completion.
Negative Updates
Full-Year Revenue Decline
Full-year 2025 revenues declined to $630.8M from $682.1M in 2024 (≈-7.5%), driven primarily by lower activity in Canada (full-year Canada revenue fell to $178.6M from $245.1M, ≈-27.2%).
Read all updates
Q4-2025 Updates
Positive
Negative
Share Repurchase Progress
Repurchased ~2,300,000 common shares for approximately $54,000,000 in 2025 (≈17% of shares outstanding) and repurchased an additional ~500,000 shares subsequent to year-end, reaching ~95% completion of the current buyback authorization; new authorization announced to purchase up to 10% of outstanding shares after completion.
Read all positive updates
Company Guidance
For 2026 Civeo provided full‑year guidance of $650 million to $700 million of revenue, $85 million to $90 million of adjusted EBITDA, and $25 million to $30 million of CapEx; management enters the year with $90.4 million of liquidity, $182.8 million total debt ($168.4 million net debt) and a 1.9x net leverage ratio (12/31/2025), expects to complete the current 20% repurchase program (2025 repurchases: ~2.3 million shares for ~$54.0 million, ~17% of shares, plus ~500,000 shares repurchased post‑year end for ~95% completion) and then begin a new authorization to buy up to 10% of outstanding shares while targeting use of at least 75% of annual free cash flow for buybacks and maintaining leverage at ≤2.0x; assumptions underlying the outlook include generally stable owned‑village occupancy in Australia with integrated‑services growth on track toward a $500 million 2027 target (Australia Q4 billed rooms ~705k, ADR ~$76; 2025 Australia revenue $460.3M), potential upside if metallurgical coal prices remain above ~$200/ton, and stable but muted Canada activity (Canada Q4 billed rooms ~359k, ADR $100) on a structurally lower cost base, with seasonality expected to be slightly more muted than the historical ~60–65% of annual EBITDA concentrated in Q2–Q3 and working‑capital considerations including roughly $20M of U.S. cash taxes and ~$10M of interest.Civeo Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
46
Neutral
Cash Flow
42
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 638.85M | 682.12M | 700.80M | 697.05M | 594.46M |
| Gross Profit | 78.47M | 149.46M | 170.52M | 179.99M | 158.00M |
| EBITDA | 77.58M | 70.07M | 128.68M | 109.95M | 101.94M |
| Net Income | -20.07M | -17.07M | 30.16M | 4.00M | 1.35M |
Balance Sheet | |||||
| Total Assets | 477.41M | 405.07M | 548.06M | 566.18M | 672.73M |
| Cash, Cash Equivalents and Short-Term Investments | 14.44M | 5.20M | 3.32M | 7.95M | 6.28M |
| Total Debt | 200.84M | 55.75M | 79.19M | 143.72M | 192.85M |
| Total Liabilities | 303.03M | 168.07M | 225.02M | 262.48M | 309.62M |
| Stockholders Equity | 174.38M | 236.37M | 320.17M | 300.14M | 361.50M |
Cash Flow | |||||
| Free Cash Flow | 2.15M | 57.37M | 64.93M | 66.35M | 72.96M |
| Operating Cash Flow | 22.34M | 83.51M | 96.56M | 91.77M | 88.53M |
| Investing Cash Flow | -90.11M | -14.94M | -14.52M | -8.95M | -706.00K |
| Financing Cash Flow | 74.72M | -65.20M | -86.80M | -79.66M | -86.51M |
Civeo Technical Analysis
Neutral
26.68
Price Trends
27.38
Negative
25.06
Positive
24.02
Positive
Market Momentum
-0.19
Positive
39.12
Neutral
15.45
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVEO, the sentiment is Neutral. The current price of 26.68 is below the 20-day moving average (MA) of 28.08, below the 50-day MA of 27.38, and above the 200-day MA of 24.02, indicating a neutral trend. The MACD of -0.19 indicates Positive momentum. The RSI at 39.12 is Neutral, neither overbought nor oversold. The STOCH value of 15.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CVEO.
Civeo Risk Analysis
Civeo disclosed 37 risk factors in its most recent earnings report. Civeo reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Civeo Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $1.27B | -21.47 | -2.36% | ― | -26.65% | -110.98% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $1.04B | 41.90 | -24.71% | ― | -68.48% | 2198.47% | |
59 Neutral | $1.11B | -19.84 | 2.88% | ― | -3.40% | -51.58% | |
56 Neutral | $292.15M | -14.41 | -12.34% | 4.25% | -10.51% | -247.97% |
* Consumer Cyclical Sector Average
CVEO
Civeo
26.68
2.40
9.88%
PRSU
Pursuit Attractions and Hospitality
37.28
1.74
4.90%
BV
BrightView Holdings
11.77
-1.56
-11.70%
TH
Target Hospitality
12.66
5.79
84.28%
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.