Civeo Corp (CVEO)
NYSE:CVEO
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Civeo
(NYSE:CVEO)
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Rating:55Neutral
Price Target:
$32.00
▲(6.03% Upside)
Action:ReiteratedDate:04/29/26
The score is held down primarily by weak financial performance (net losses, thin profitability, and deteriorated free cash flow alongside higher leverage). Technicals are supportive but stretched (overbought), while the earnings call was a relative positive due to stable EBITDA guidance, improved cash flow trends, and aggressive buybacks. Valuation is constrained by unprofitability, and the expanded credit facility modestly improves flexibility.
Positive Factors
Integrated-services scaling in Australia
Civeo’s integrated-services push in Australia targets $500M by 2027 and leverages existing lodge scale. Durable, contract‑style services diversify revenue away from pure room nights, can carry higher margins, and create sticky customer relationships that support multi‑year revenue and margin stability.
Negative Factors
Persistent GAAP unprofitability
Despite positive adjusted EBITDA, Civeo remains loss‑making on a GAAP basis with TTM net losses and negative net margins. Persistent GAAP losses erode retained earnings, constrain reinvestment capacity, and mean profitability gains must be sustained to restore long‑term return metrics and investor confidence.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated-services scaling in Australia
Civeo’s integrated-services push in Australia targets $500M by 2027 and leverages existing lodge scale. Durable, contract‑style services diversify revenue away from pure room nights, can carry higher margins, and create sticky customer relationships that support multi‑year revenue and margin stability.
Read all positive factors
Civeo (CVEO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$343.29M
Dividend Yield4.25%
Average Volume (3M)42.56K
Price to Earnings (P/E)―
Beta (1Y)0.19
Revenue Growth-6.34%
EPS Growth-27.08%
CountryUS
Employees2,600
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-0.56
Shares Outstanding10,943,297
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 Cap1.69
Enterprise Value/Revenue0.91
Enterprise Value/Gross Profit7.40
Enterprise Value/Ebitda7.49
Forecast
1Y Price Target
$37.00Price Target Upside22.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.12
Revenue Forecast (FY)$674.63M
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 makes money by contracting with industrial and resource-sector customers to provide workforce housing and on-site hospitality services. Its core revenue stream comes from operating accommodations (rooms/beds) at remote lodges or villages, wh...
Civeo Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 01, 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
Positive
30.18
Price Trends
28.10
Positive
25.84
Positive
24.36
Positive
Market Momentum
0.55
Negative
70.12
Negative
97.03
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVEO, the sentiment is Positive. The current price of 30.18 is above the 20-day moving average (MA) of 27.87, above the 50-day MA of 28.10, and above the 200-day MA of 24.36, indicating a bullish trend. The MACD of 0.55 indicates Negative momentum. The RSI at 70.12 is Negative, neither overbought nor oversold. The STOCH value of 97.03 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
66 Neutral | $1.42B | -21.47 | -2.36% | ― | -16.99% | -152.46% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $1.13B | 41.90 | -24.71% | ― | -60.78% | -92.96% | |
59 Neutral | $1.16B | -19.84 | 2.88% | ― | -1.87% | -99.88% | |
55 Neutral | $343.29M | -14.41 | -12.34% | 4.25% | -6.34% | -27.08% |
* Consumer Cyclical Sector Average
CVEO
Civeo
31.30
11.21
55.80%
PRSU
Pursuit Attractions and Hospitality
41.35
11.62
39.09%
BV
BrightView Holdings
12.35
-1.63
-11.66%
TH
Target Hospitality
14.34
7.67
114.99%
Civeo Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Civeo Expands Syndicated Credit Facility to Enhance Flexibility
Positive
Apr 28, 2026
On April 23, 2026, Civeo Corporation entered into an Amended and Restated Syndicated Facility Agreement that replaces its prior 2021 facility, extending the maturity date to April 23, 2030 and increasing total aggregate revolving loan commitments ...
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.