회사 개요
Civeo Corporation (CVEO) operates within the consumer cyclical sector, specifically focusing on the lodging industry, where it provides specialized hospitality services to the natural resource industry across Canada, Australia, and international markets. The company's core business involves the development of lodges, villages, and mobile assets such as modular and skid-mounted accommodation units designed to meet short to medium-term housing needs for resource extraction projects. As of the latest data, the enterprise holds a market capitalization of 3.1621 억 달러, generated an annual trailing twelve-month revenue of 6.3885 억 달러, and employs approximately 2,700 명. These valuation metrics indicate that the company maintains a relatively small market capitalization relative to its revenue base, suggesting it operates as a niche player rather than a large-scale conglomerate in the global lodging sector.
재무 건전성
The company reported a trailing twelve-month revenue of 6.3885 억 달러 against a net income loss of 약 2,070 만 달러, while generating an EBITDA of 7,673 만 달러. The significant gap between the positive revenue and the negative net income reveals a cost structure where operating expenses, including interest costs and taxes, exceed the gross profit generated from operations. Despite the net loss, the entity generated a free cash flow of 3,086 만 달러, which provides a measure of financial flexibility to fund operations or manage liquidity without relying solely on external financing. Profitability metrics show a gross margin of 23.6%, an operating margin of -0.1%, and a profit margin of -3.1%, indicating that while the company retains a portion of its sales revenue after direct costs, overall operational and net profitability remains negative. On the balance sheet, the company holds 1,444 만 달러 in cash against 2 억 840 만 달러 in total debt, resulting in a debt-to-equity ratio of 115.17 which characterizes a highly leveraged financial position. Liquidity analysis shows a current ratio of 1.54, suggesting the company possesses sufficient current assets to cover its short-term obligations, though the margin of safety is moderate given the high debt load. Return on equity stands at -9.8% and return on assets is 0.6%, metrics that reflect the challenges in generating returns for shareholders and utilizing assets efficiently in the current fiscal period.
밸류에이션 평가
The valuation metrics present a complex picture with a trailing P/E ratio of N/A due to the lack of positive earnings, contrasted by a forward P/E of 50.85. The absence of a trailing P/E implies that the market is currently pricing the stock based on future earnings expectations rather than historical profitability, highlighting a reliance on anticipated turnaround or operational improvements. The price-to-book ratio is 1.80, which indicates that the market values the company at 1.8 times its book value, suggesting a moderate premium over the net asset value despite current losses. Alternative valuation multiples include a price-to-sales ratio of 0.49 and an EV/EBITDA of 6.35, which suggest the stock is priced at less than half of its sales revenue and at a relatively low multiple of its earnings before interest, taxes, and depreciation, offering a different perspective on value independent of current net income. The stock's trading range over the past year spans from a 52-week low of 18.01 달러 to a high of 29.74 달러, meaning the current valuation sits below the recent high but above the yearly low. With a beta of 0.64, the stock exhibits lower price volatility relative to the broader market, moving less dramatically than the overall index during periods of market fluctuation.
Growth & Income
Revenue growth year-over-year stands at 7.1%, whereas earnings growth is listed as N/A due to the negative net income, indicating that top-line expansion is currently decoupled from bottom-line profitability. The company does not report a dividend yield of 0.0% or a payout ratio, as the financial data indicates a dividend yield of 3.6% with a payout ratio of 71.4%, which presents a sustainability concern given the negative net income and the requirement to pay dividends out of cash flow or reserves rather than earnings. The high payout ratio combined with negative net income suggests that the dividend is being funded through free cash flow or cash reserves rather than distributable profits, which limits the sustainability of the current yield. Overall, the growth and income profile is characterized by expanding revenue and a high dividend yield that requires careful monitoring of cash burn and liquidity levels to ensure continuity.