Civeo Corp CVEO
We provide hospitality services to remote workforces in Australia and Canada, including catering and food service, lodging, housekeeping and maintenance at accommodation facilities that we or our customers own. We provide services that support the day-to-day operations of these facilities, such as laundry, facility management and maintenance, water and wastewater treatment, power generation, communication systems, security and logistics. We also manage development activities for workforce accommodation facilities, including site selection, permitting, engineering and design and manufacturing and site construction management, along with providing hospitality services once the facility is constructed.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $638.8M | $682.1M | $700.8M | $697.1M | $594.5M | $529.7M | $527.6M | $466.7M | $382.3M | $397.2M |
| Cost of revenue | $487.8M | $532.7M | $530.3M | $517.1M | — | — | — | — | $245.0M | $238.0M |
| Gross profit | $151.1M | $149.5M | $170.5M | $180.0M | — | — | — | — | $137.3M | $159.2M |
| SG&A | $75.3M | $73.3M | $72.6M | $70.0M | $60.6M | $53.7M | $59.6M | $67.0M | $63.4M | $55.3M |
| Total operating expenses | $634.7M | $680.8M | $661.3M | $680.0M | $588.4M | $676.9M | $576.6M | $554.7M | $480.2M | $493.0M |
| Operating income | $4.1M | $1.3M | $39.5M | $17.0M | $6.1M | -$147.2M | -$49.1M | -$88.1M | -$98.0M | -$95.8M |
| Interest expense | $11.4M | $8.0M | $13.2M | $11.5M | $13.0M | $16.7M | $27.4M | $26.3M | $21.4M | $22.7M |
| Pre-tax income | -$6.5M | -$5.9M | $40.4M | $10.7M | $5.9M | -$143.4M | -$69.1M | -$113.2M | -$118.7M | -$115.9M |
| Income tax | $13.6M | $12.5M | $10.6M | $4.4M | $3.4M | $10.6M | $10.7M | $31.4M | $13.5M | $20.1M |
| Net income | -$20.1M | -$17.1M | $30.2M | $4.0M | $1.4M | -$134.2M | -$58.5M | -$82.2M | -$105.7M | -$96.4M |
| EPS, basic | -1.59 | -1.19 | 2.02 | -0.21 | -0.04 | -9.64 | -4.33 | -10.06 | -0.82 | -0.90 |
| EPS, diluted | -1.59 | -1.19 | 2.01 | -0.21 | -0.04 | -9.64 | -4.33 | -10.06 | -0.82 | -0.90 |
| Shares, diluted (wtd. avg.) | $12.6M | $14.3M | $15.0M | $14.0M | $14.2M | $14.1M | $13.9M | $13.1M | $128.4M | $107.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $14.4M | $5.2M | $3.3M | $8.0M | $6.3M | $6.2M | $3.3M | $12.4M | $32.6M | $1.8M |
| Receivables | $90.5M | $89.0M | $143.2M | $119.8M | $114.9M | $89.8M | $99.5M | $70.2M | $66.8M | $56.3M |
| Inventory | $6.2M | $7.5M | $7.0M | $6.9M | $6.5M | $6.2M | $5.9M | $4.3M | $7.2M | $3.1M |
| Total current assets | $131.2M | $110.5M | $175.2M | $153.5M | $157.2M | $119.2M | $131.4M | $107.8M | $132.2M | $82.6M |
| Property, plant and equipment | $244.5M | $204.9M | $270.6M | $301.9M | $390.0M | $486.9M | $590.3M | $658.9M | $693.8M | $789.7M |
| Goodwill | $7.5M | $7.0M | $7.7M | $7.7M | $8.2M | $8.7M | $110.2M | $114.2M | $0 | — |
| Other intangibles | $70.4M | $66.5M | $78.0M | $81.7M | $93.6M | $99.7M | $111.8M | $119.4M | $22.8M | $28.0M |
| Total assets | $477.4M | $405.1M | $548.1M | $566.2M | $672.7M | $740.9M | $969.9M | $1.00B | $853.9M | $910.4M |
| Accounts payable | $44.3M | $40.0M | $58.7M | $51.1M | $49.3M | $42.1M | $37.0M | $28.3M | $27.8M | $20.7M |
| Short-term debt | — | — | $0 | $28.4M | $30.6M | $34.6M | $35.1M | $33.3M | $16.6M | $15.5M |
| Total current liabilities | $84.9M | $92.6M | $114.2M | $128.3M | $136.9M | $116.8M | $110.0M | $86.7M | $75.6M | $60.4M |
| Long-term debt | $182.8M | $43.3M | $65.6M | $102.5M | $142.6M | $214.0M | $321.8M | $342.9M | $278.0M | $337.8M |
| Total liabilities | $303.0M | $168.1M | $225.0M | $262.5M | $309.6M | $365.5M | $479.1M | $466.3M | $377.5M | $434.5M |
| Retained earnings | -$1.06B | -$980.7M | -$919.0M | -$930.1M | -$913.0M | -$907.7M | -$771.6M | -$710.6M | -$579.1M | -$472.8M |
| Total equity | $174.4M | $236.4M | $323.0M | $303.7M | $363.1M | $375.4M | $490.8M | $535.4M | $476.4M | $476.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $22.3M | $83.5M | $96.6M | $91.8M | $88.5M | $117.4M | $74.5M | $54.4M | $56.8M | $62.2M |
| Depreciation and amortisation | $72.6M | $68.0M | $75.1M | $87.2M | $83.1M | $96.5M | $123.8M | $125.8M | $126.4M | $131.3M |
| Capital expenditure | $20.2M | $26.1M | $31.6M | $25.4M | $15.6M | $10.1M | $29.8M | $17.1M | $11.2M | $19.8M |
| Investing cash flow | -$90.1M | -$14.9M | -$14.5M | -$8.9M | -$706.0K | -$1.8M | -$38.6M | -$181.9M | -$8.7M | -$12.7M |
| Financing cash flow | $74.7M | -$65.2M | -$86.8M | -$79.7M | -$86.5M | -$114.2M | -$44.6M | $109.5M | -$18.1M | -$58.3M |
| Dividends paid | $3.4M | $14.4M | $7.4M | $0 | $0 | — | — | — | — | — |
| Buybacks | $53.6M | $29.6M | $11.6M | $14.2M | $4.6M | $0 | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001590584-26-000035.
Others in SIC 7000
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| HGV | Hilton Grand Vacations Inc. | $3.27B | 47.2x | 1.1% |
| TH | Target Hospitality Corp. | $1.94B | — | 3.4% |