A Business at a Glance
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Covista Inc.
ATGE
$4.9B
Mkt Cap
Covista Inc. (ATGE) has a current P/E ratio of 14.7, compared to its historical median P/E of 20.5. The stock is currently considered Fair based on its historical valuation range.
Covista Inc. (ATGE) has a 5-year average return on invested capital (ROIC) of 10.3%. This indicates solid capital allocation.
Covista Inc. (ATGE) has a market capitalization of $3.4B. It is classified as a mid-cap stock.
Covista Inc. (ATGE) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 9.03%.
Based on historical P/E analysis, Covista Inc. (ATGE) appears fair. The current P/E of 14.7 is 28% below its historical median of 20.5. The estimated fair value CAGR (P/E method) is 42.4%.
Covista Inc. (ATGE) operates in the Services-Educational Services industry, within the Consumer Cyclical sector.
Covista Inc. (ATGE) reported annual revenue of $1.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
In this Annual Report on Form 10-K, Adtalem Global Education Inc., together with its subsidiaries, is collectively referred to as “Adtalem,” “we,” “our,” “us,” or similar references. Adtalem was incorporated under the laws of the State of Delaware in August 1987. Our executive offices are located at 233 South Wacker Drive, Chicago, Illinois, 60606, and the telephone number is (312) 651-1400. Adtalem is the leading healthcare educator in the U.S. and a systemically important solution for preparing a diverse talent workforce that meets the needs of the healthcare industry. The purpose of Adtalem is to empower students to achieve their goals, find success, and make inspiring contributions to our global community. Adtalem is comprised of five like-kind institutions, with programs focusing on healthcare, including nursing, social and behavioral sciences, medicine, veterinary medicine, and more.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.8B | 1.6B | 1.5B | 1.4B | 899M |
| Net Income | 234M | 237M | 137M | 93M | 311M | 70M |
| EPS | $6.64 | $6.18 | $3.39 | $2.05 | $6.43 | $1.36 |
| Free Cash Flow | 336M | 288M | 247M | 166M | -20M | 152M |
| ROIC | 16.1% | 14.9% | 10.0% | 7.7% | 13.2% | 5.6% |
| Gross Margin | - | 56.9% | 55.9% | 55.3% | 52.3% | 49.1% |
| Debt/Equity | 0.37 | 0.39 | 0.47 | 0.48 | 0.56 | 0.83 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 365M | 342M | 217M | 168M | 77M | 110M |
| Operating Margin | 19.1% | 19.1% | 13.7% | 11.6% | 5.6% | 12.3% |
| ROE | 17.2% | 16.9% | 9.7% | 6.3% | 22.2% | 5.4% |
| Shares Outstanding | 34M | 38M | 40M | 46M | 48M | 51M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.9B | 1.8B | 1.8B | 1.8B | 960M | 1.0B | 866M | 899M | 1.4B | 1.5B | 1.6B | 1.8B | 1.9B |
| Gross Margin | 48.9% | 43.0% | 69.1% | 64.7% | 51.9% | 53.5% | 47.2% | 49.1% | 52.3% | 55.3% | 55.9% | 56.9% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 728M | 708M | 353M | 369M | 328M | 359M | 280M | 292M | 566M | 586M | 633M | 672M | 723M |
| EBIT | 181M | 157M | -168M | 141M | -84M | 156M | 110M | 110M | 77M | 168M | 217M | 342M | 365M |
| Op. Margin | 9.4% | 8.9% | -9.1% | 7.8% | -8.7% | 15.4% | 12.7% | 12.3% | 5.6% | 11.6% | 13.7% | 19.1% | 19.1% |
| Net Income | 134M | 140M | -3.2M | 122M | 34M | 95M | -85M | 70M | 311M | 93M | 137M | 237M | 234M |
| Net Margin | 7.0% | 8.0% | -0.2% | 6.8% | 3.5% | 9.4% | -9.8% | 7.8% | 22.5% | 6.4% | 8.6% | 13.3% | 12.3% |
| Non-Recurring | 35M | 45M | 108M | 13M | 63M | 53M | 28M | 6.9M | 26M | 32M | 1.9M | 9.8M | 5.6M |
| Returns on Capital | |||||||||||||
| ROIC | 12.9% | 11.5% | -0.2% | 9.3% | 1.9% | 7.5% | 6.5% | 5.6% | 13.2% | 7.7% | 10.0% | 14.9% | 16.1% |
| ROE | 9.1% | 9.0% | -0.2% | 7.5% | 2.1% | 6.5% | -6.3% | 5.4% | 22.2% | 6.3% | 9.7% | 16.9% | 17.2% |
| ROA | 7.0% | 6.9% | -0.2% | 5.5% | 1.4% | 4.1% | -3.8% | 2.6% | 10.5% | 3.3% | 4.9% | 8.6% | 8.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 266M | 206M | 231M | 231M | 239M | 205M | 108M | 192M | 11M | 192M | 296M | 338M | 406M |
| Free Cash Flow | 186M | 117M | 180M | 188M | 193M | 147M | 68M | 152M | -20M | 166M | 247M | 288M | 336M |
| Owner Earnings | 159M | 99M | 161M | 157M | 185M | 151M | 62M | 145M | -154M | 75M | 195M | 244M | -17M |
| CapEx | 79M | 89M | 51M | 43M | 47M | 58M | 40M | 40M | 31M | 26M | 49M | 50M | 70M |
| Maint. CapEx | 89M | 89M | 49M | 57M | 40M | 41M | 32M | 34M | 142M | 103M | 75M | 52M | 382M |
| Growth CapEx | 0 | 0 | 2.9M | 0 | 7.1M | 17M | 7.3M | 6.0M | 0 | 0 | 0 | 0 | 0 |
| D&A | 89M | 89M | 49M | 57M | 40M | 41M | 32M | 34M | 142M | 103M | 75M | 52M | 382M |
| CapEx/OCF | 29.9% | 43.7% | 30.4% | 18.4% | 27.8% | 28.1% | 41.0% | 20.7% | 292.9% | 13.6% | 16.5% | 14.9% | 17.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 22M | 23M | 23M | 11M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 1.0% | 0.9% | 1.6% | 0.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 26M | 33M | 49M | 137M | 253M | 137M | 100M | 120M | 123M | 262M | 213M | 307M |
| Buyback Yield | N/A | 1.2% | 3.1% | 2.0% | 4.7% | 9.4% | 8.3% | 5.4% | 7.0% | 8.0% | 9.5% | 4.3% | 9.0% |
| Stock-Based Comp | 18M | 17M | 22M | 17M | 14M | 13M | 14M | 13M | 23M | 14M | 26M | 42M | 42M |
| Debt Repayment | 0 | 0 | 0 | 402M | 403M | 28M | 338M | 3.0M | 1.1B | 151M | 52M | 110M | 110M |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | -119M | -142M | 595M | 74M | 594M | 633M | 381M | 429M | 353M | 350M |
| Cash & Equiv. | 358M | 353M | 308M | 240M | 431M | 204M | 501M | 476M | 206M | 314M | 219M | 200M | 149M |
| Long-Term Debt | N/A | N/A | N/A | 125M | 290M | 398M | 286M | 1.1B | 839M | 695M | 649M | 553M | 496M |
| Debt/Equity | 0.30 | 0.28 | 0.32 | 0.07 | 0.19 | 0.58 | 0.45 | 0.83 | 0.56 | 0.48 | 0.47 | 0.39 | 0.37 |
| Interest Coverage | 49.9 | 29.5 | -28.4 | 15.4 | -7.2 | 7.8 | 5.6 | 2.7 | 0.6 | 2.7 | 3.4 | 6.5 | 7.8 |
| Equity | 1.5B | 1.6B | 1.6B | 1.7B | 1.5B | 1.4B | 1.3B | 1.3B | 1.5B | 1.5B | 1.4B | 1.4B | 1.4B |
| Total Assets | 2.0B | 2.0B | 2.1B | 2.3B | 2.3B | 2.2B | 2.3B | 3.1B | 2.8B | 2.8B | 2.7B | 2.8B | 2.7B |
| Total Liabilities | 458M | 445M | 510M | 640M | 817M | 842M | 915M | 1.8B | 1.3B | 1.4B | 1.4B | 1.3B | 1.4B |
| Intangibles | 295M | 324M | 343M | 392M | 363M | 298M | 288M | 138M | 874M | 812M | 777M | 765M | 757M |
| Retained Earnings | 1.7B | 1.8B | 1.8B | 1.9B | 1.9B | 2.0B | 1.9B | 2.0B | 2.3B | 2.4B | 2.5B | 2.8B | 3.0B |
| Working Capital | 260M | 238M | 156M | 94M | 322M | 193M | 347M | 1.1B | 48M | -50M | -70M | -92M | -177M |
| Current Assets | 577M | 560M | 518M | 471M | 688M | 505M | 693M | 1.5B | 424M | 381M | 418M | 416M | 404M |
| Current Liabilities | 317M | 322M | 362M | 377M | 366M | 312M | 346M | 409M | 377M | 431M | 488M | 508M | 580M |
| Per Share Data | |||||||||||||
| EPS | 2.07 | 2.14 | -0.05 | 1.91 | 0.54 | 1.60 | -1.58 | 1.36 | 6.43 | 2.05 | 3.39 | 6.18 | 6.64 |
| Owner EPS | 2.45 | 1.51 | 2.54 | 2.46 | 2.96 | 2.54 | 1.14 | 2.83 | -3.18 | 1.65 | 4.82 | 6.37 | -0.51 |
| Book Value | 23.68 | 24.24 | 24.99 | 26.07 | 24.29 | 23.39 | 24.25 | 25.12 | 31.20 | 32.00 | 33.93 | 37.37 | 40.09 |
| Cash Flow/Share | 4.10 | 3.14 | 3.66 | 3.61 | 3.82 | 3.44 | 1.99 | 3.73 | 0.22 | 4.21 | 7.33 | 8.81 | 18.11 |
| Dividends/Share | 0.34 | 0.36 | 0.36 | 0.18 | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 64.7M | 65.4M | 63.3M | 64.0M | 62.5M | 59.5M | 54.0M | 51.5M | 48.4M | 45.5M | 40.3M | 38.4M | 34.0M |
| Valuation | |||||||||||||
| P/E Ratio | 19.9 | 14.9 | N/A | 19.9 | 86.7 | 28.2 | N/A | 24.0 | 5.5 | 16.5 | 20.1 | 20.8 | 15.0 |
| P/FCF | 14.3 | 17.9 | 5.9 | 12.9 | 15.2 | 18.2 | 24.3 | 12.1 | N/A | 9.3 | 11.1 | 17.1 | 10.1 |
| EV/EBIT | N/A | N/A | N/A | 16.5 | 21.0 | N/A | 6.6 | 16.7 | 24.1 | 10.1 | 13.6 | 14.9 | 10.3 |
| Price/Book | 1.7 | 1.3 | 0.7 | 1.5 | 1.9 | 1.9 | 1.3 | 1.4 | 1.1 | 1.1 | 2.0 | 3.4 | 2.5 |
| Price/Sales | 1.3 | 1.5 | 0.8 | 1.6 | 2.1 | 2.9 | 1.8 | 1.9 | 1.1 | 1.2 | 1.3 | 2.0 | 1.8 |
| FCF Yield | 7.0% | 5.6% | 17.1% | 7.7% | 6.6% | 5.5% | 4.1% | 8.2% | -1.2% | 10.8% | 9.0% | 5.8% | 9.9% |
| Market Cap | 2.7B | 2.1B | 1.1B | 2.4B | 2.9B | 2.7B | 1.7B | 1.8B | 1.7B | 1.5B | 2.8B | 4.9B | 3.4B |
| Avg. Price | 35.18 | 39.25 | 22.42 | 29.61 | 41.90 | 48.87 | 35.68 | 34.22 | 32.17 | 38.87 | 51.48 | 93.31 | 99.81 |
| Year-End Price | 41.12 | 31.91 | 16.65 | 38.10 | 46.80 | 45.05 | 30.63 | 35.78 | 35.32 | 33.81 | 68.21 | 128.49 | 99.81 |
Covista Inc. passes 7 of 9 quality checks, indicating strong fundamentals.
Covista Inc. trades at 14.7x trailing earnings, compared to its 15-year median P/E of 20.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 9.4x vs a median of 12.9x. The company's 5-year average ROIC is 10.3% with a gross margin of 53.9%. Total shareholder yield (buybacks) is 9.0%. At current prices, the estimated annualized return to fair value is +24.3%.
Covista Inc. (ATGE) has a net profit margin of 13.3%. This is a healthy margin.
Covista Inc. (ATGE) generated $288 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Covista Inc. (ATGE) has a debt-to-equity ratio of 0.39. This indicates a conservatively financed balance sheet.
Covista Inc. (ATGE) reported earnings per share (EPS) of $6.18 in its most recent fiscal year.
Covista Inc. (ATGE) has a return on equity (ROE) of 16.9%. This indicates the company generates strong returns for shareholders.
Covista Inc. (ATGE) has a 5-year average gross margin of 53.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for Covista Inc. (ATGE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Covista Inc. (ATGE) has a book value per share of $37.37, based on its most recent annual SEC filing.