Civeo (CVEO) AI Stock Analysis

• Market Cap: $261.63M
• Dividend Yield: 4.4%
• Average Volume (3M): 48.02K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.07
• Revenue Growth: -10.51%
• EPS Growth: -247.97%
• Country: US
• Employees: 2,600
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Business Services
• EPS (TTM): -0.04
• Shares Outstanding: 11,515,223
• 10 Day Avg. Volume: 38,119
• 30 Day Avg. Volume: 48,018
• PEG Ratio: 0.12
• Price to Book (P/B): 1.37
• Price to Sales (P/S): 0.48
• P/FCF Ratio: 5.66
• Enterprise Value/Market Cap: 1.80
• Enterprise Value/Revenue: 0.75
• Enterprise Value/Gross Profit: 3.85
• Enterprise Value/Ebitda: 7.22
• 1Y Price Target: $28.00
• Price Target Upside: 23.24% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -1.2
• Revenue Forecast (FY): $646.72M

• Rating: 54 Neutral
• Price Target: $22.50 ▼(-0.97% Downside)

Civeo's overall stock score reflects significant financial challenges, with declining revenues and profitability weighing heavily. Technical analysis and valuation provide a mixed outlook, while recent earnings call and corporate events offer some positive strategic developments. The company's ability to navigate financial risks and leverage strategic initiatives will be crucial for future performance.

Positive Factors

Australian Segment Growth

The growth in the Australian segment, driven by acquisitions, suggests strong market positioning and potential for sustained revenue increases.

Board Refreshment

The addition of experienced directors is likely to enhance governance and strategic decision-making, supporting long-term shareholder value.

Cost Reduction Success in Canada

Effective cost management in Canada improves profitability and demonstrates operational efficiency, aiding financial stability.

Negative Factors

Declining Revenues

Continued revenue decline indicates challenges in maintaining market demand, which could impact long-term growth prospects.

Negative Profitability

Negative profitability highlights ongoing financial struggles, potentially limiting reinvestment and strategic flexibility.

Weak Cash Flow Position

Weak cash flow limits the company's ability to fund operations and growth initiatives, posing a risk to long-term sustainability.

Civeo Business Overview & Revenue Model

Company Description

Civeo Corporation (CVEO) is a leading provider of workforce accommodations, logistics, and ancillary services to the resource sector, primarily in North America and Australia. The company specializes in developing and managing remote housing facilities, known as 'man camps,' which cater to the needs of workers in industries such as oil and gas, mining, and construction. Civeo's core offerings include lodging, catering, and facility management services, aimed at enhancing worker productivity and comfort in remote locations.

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 management fees. The company often enters into long-term contracts with major resource companies, ensuring a steady flow of income. Additionally, Civeo may benefit from partnerships with clients in the resource sector, which can lead to recurring business and increased occupancy rates at its facilities. The company's ability to scale its operations and manage costs effectively also contributes to its profitability.

Civeo Financial Statement Overview

Summary

Civeo is facing financial difficulties with declining revenues, negative profitability, and increased leverage. The income statement shows a significant revenue decline and net loss, while the cash flow statement highlights a concerning trend with negative free cash flow growth. The balance sheet indicates increased financial risk due to higher leverage.

Income Statement

Civeo's income statement shows a challenging financial performance. The TTM data reveals a significant revenue decline of 9.22%, and the company is operating at a net loss with a net profit margin of -3.28%. The gross profit margin has also decreased to 7.31% from previous years, indicating pressure on profitability. Despite these challenges, the EBITDA margin remains positive at 9.30%, suggesting some operational efficiency.

Balance Sheet

The balance sheet indicates a moderate financial position. The debt-to-equity ratio has increased to 1.08, reflecting higher leverage, which could pose a risk if not managed carefully. However, the equity ratio remains stable, and the company has maintained a reasonable level of stockholders' equity relative to its assets. Return on equity is negative, highlighting the impact of net losses on shareholder returns.

Cash Flow

Civeo's cash flow statement shows a concerning trend with a significant decline in free cash flow growth at -211.81%. The operating cash flow to net income ratio is low at 0.15, indicating limited cash generation relative to net income. The negative free cash flow to net income ratio further emphasizes the company's cash flow challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	628.18M	682.12M	700.80M	697.05M	594.46M	529.73M
Gross Profit	122.47M	149.46M	170.52M	179.99M	158.00M	147.64M
EBITDA	65.26M	70.07M	128.68M	109.95M	101.94M	-30.18M
Net Income	-28.68M	-17.07M	30.16M	4.00M	1.35M	-134.25M
Balance Sheet
Total Assets	491.07M	405.07M	548.06M	566.18M	672.73M	740.85M
Cash, Cash Equivalents and Short-Term Investments	12.00M	5.20M	3.32M	7.95M	6.28M	6.16M
Total Debt	198.02M	55.75M	79.19M	143.72M	192.85M	272.86M
Total Liabilities	308.52M	168.07M	225.02M	262.48M	309.62M	365.50M
Stockholders Equity	182.55M	236.37M	320.17M	300.14M	361.50M	374.69M
Cash Flow
Free Cash Flow	-10.54M	57.37M	64.93M	66.35M	72.96M	107.28M
Operating Cash Flow	12.57M	83.51M	96.56M	91.77M	88.53M	117.36M
Investing Cash Flow	-93.37M	-14.94M	-14.52M	-8.95M	-706.00K	-1.77M
Financing Cash Flow	70.74M	-65.20M	-86.80M	-79.66M	-86.51M	-114.21M

Civeo Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 22.72
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 22.72 is above the 20-day moving average (MA) of 21.96, above the 50-day MA of 21.96, and above the 200-day MA of 22.17, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 58.47 is Neutral, neither overbought nor oversold. The STOCH value of 74.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CVEO.

Civeo Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TH	65 Neutral	$855.11M	-86.92	-2.36%	―	-26.65%	-110.98%
PRSU	64 Neutral	$1.01B	2.85	-24.71%	―	-68.48%	2198.47%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
BV	59 Neutral	$1.21B	294.48	3.13%	―	-3.40%	-51.58%
CVEO	54 Neutral	$261.63M	-10.75	-12.34%	4.40%	-10.51%	-247.97%

Civeo Corporate Events

Civeo Appoints New Directors in Strategic Agreement

On November 25, 2025, Civeo Corporation entered into a cooperation agreement with Engine Capital LP, resulting in the appointment of Jeffrey B. Scofield and Daniel B. Silvers to its Board of Directors. These appointments, effective immediately, are part of Civeo’s strategic efforts to enhance its board with experienced individuals who can contribute to the company’s growth and value creation. Mr. Scofield will serve on the Audit and Finance and Investment Committees, while Mr. Silvers will join the Compensation and Environmental, Social, Governance & Nominating Committees. This move underscores Civeo’s commitment to board refreshment and governance practices, aiming to deliver long-term value for shareholders. The cooperation agreement includes customary provisions and is expected to positively impact Civeo’s strategic execution and stakeholder relationships.

Civeo Highlights Strategic Initiatives in Investor Presentation

On September 30, 2025, Civeo Corporation released an investor presentation highlighting its strategic initiatives and financial performance. The company emphasized its strong cash flow generation from its diverse asset mix and its plans for ongoing value creation through strategic capital deployment and expansion into new markets. Civeo is well-positioned to capitalize on proposed infrastructure projects and aims to achieve significant revenue growth by 2027, enhancing its market position and shareholder returns.