undamentalytics Newsletter
Sign in

Covista Inc. (CVSA) stock

Add to watchlist

Add holding +

NYSE: CVSA NYSE Education Services Next results ~January 28, 2027

C+ Fundamentals grade

Covista Inc. is a US-listed company in the education services industry. Its financial year ends in June.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$250

Cash-flow model

Base case. Range ~$180–$330 across our lower- and higher-growth cases (5.1%–15.1% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 100% above it.

Price used: $124.03, November 2, 2026

Covista Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 5 selling6 purchases and 17 sales by directors and officers, last 12 monthsInsider trades
  • Funds190 adding, 162 cuttingOf 50 active managers that changed their stake, 19 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Covista files

10-Q filed October 29: Covista

Covista Inc. generated $2.00bn in revenue over the twelve months to September 2026, a 9.3% rise on the prior year and roughly the same pace as the quarter before. Free-cash-flow margin stayed steady at 17.7%. Meanwhile, the diluted share count fell 7.2% year-on-year, boosting the claim each remaining share has on earnings. Our cash-flow model puts fair value at $242 a share, well above the current price of $128, and the rating remains Buy. At today's price, the market appears to be pricing in cash flow shrinking by about 1.5% a year over five years, a far more pessimistic path than the 7.7% a year revenue growth Covista has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Covista stands after its latest 10-K

Revenue for the twelve months to June 2026 was $1.95bn, up 9.3% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to 20.1% from 16.1% a year earlier. The diluted share count is down 6.8% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 4 of our 7 financial-health checks.

10-K on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 28, 2027 (estimated)

Covista Inc.'s trailing-twelve-month revenue grew 9.3% year on year, with a free-cash-flow margin of 17.7%. Where it stands out: change in share count of -7.2% ranks 2 of 24 education services companies we cover.

Our discounted-cash-flow model values the business at ~$250 per share in the base case (~$180–$330 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 20% in the quarter to 2026-09-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $124.03 is 100% below our value per share of $250.
  • Shrinking share count. Diluted shares fell 7.2% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.1% ranks 16 of 21 education services companies we cover (median 1.4%).
  • Heavily shorted. 11.4% of the shares available to trade are sold short (8.0 days of average volume to cover).

Latest results: FY2027 Q1

Filed October 29, 2026
Earnings per share
$2.19 against an average estimate of $1.83: beat by 19.5%
Revenue
$512m, up 10.7% on a year earlier
Share reaction
-1.7% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
revenue $2,060m to $2,095m (fiscal year 2027); adjusted earnings per share $9 to $9.2 (fiscal year 2027)
Next report
January 28, 2027; average EPS estimate $2.38

Covista's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.2%
  • 1 week-5.7%
  • 1 month-1.2%
  • This year+19.9%
  • 1 year+26.5%
  • 5 years+242.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2B
Operating margin
19.8%
Net margin
12.8%
EPS (TTM, diluted)
$7.33

Growth

Revenue growth
+9.3%
Change in growth rate
+0.0 pts
Share count change
−7.2%

Cash

Free cash flow (TTM)
$355M
FCF margin
17.7%
Stock pay % of revenue
2.1%

Earnings

Last results
October 29, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Announcement
  4. Announcement
  5. Announcement
  6. Announcement
  7. Agreement
  8. Product
  9. Leadership
  10. Announcement
  11. Announcement
  12. Results
  13. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Covista Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 2.3% a year for five years.That is slower than the 7.7% a year revenue growth Covista has delivered.

  • Priced in-2.3%
  • Last 12 months9.3%
  • 3 years a year11.0%
  • 5 years a year7.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($123.39, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$250
Price used
$123.39close November 3, 2026
Implied change
▲ +101%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Covista Inc.'s free cash flow after stock-based pay with after-tax interest added back ($342M, FY2027 Q1 TTM), growing 6.7% and 9.3% in the next two years (forecasts, guidance and its record), then back to 10.1% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$180–~$330 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Covista Inc.'s free cash flow after stock-based pay ( $342M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Covista Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.87 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$250 ~$180–$330 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$96 ~$79–$140 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$89 ~$66–$120 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$97 ~$83–$120 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$160 ~$89–$250 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Covista Inc. with Education Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +0%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $138$191$260$352$472$626
8.5% $104$142$192$258$343$453
10% $83$112$151$201$266$349

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$17.73$37.95$48.10$45.05$31.15$35.64$35.97$34.34$68.21$127.23$124.66$124.03
Market value$1.1bn$2.4bn$3.0bn$2.7bn$1.7bn$1.8bn$1.7bn$1.6bn$2.7bn$4.9bn$4.5bn$4.4bn
+ Net debt (− = net cash)−$308m−$115m−$131m$203m−$207m$615m$512m$436m$439m$359m$267m$288m
Enterprise value$833m$2.3bn$2.9bn$2.9bn$1.5bn$2.5bn$2.3bn$2.0bn$3.2bn$5.2bn$4.7bn$4.6bn
Multiples
Price / sales 1.1x2.0x3.1x2.6x1.9x2.0x1.3x1.1x1.7x2.7x2.3x2.2x
Price / earnings —19.9x88.7x28.1x—26.3x5.6x16.8x20.1x20.6x17.7x16.9x
Price / free cash flow 6.3x12.9x15.6x18.1x24.7x12.1x—9.4x11.1x17.0x11.3x12.3x
EV / EBITDA ———15.2x10.4x17.0x18.6x9.6x12.4x13.7x11.0x10.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

71 /100

Strong moat

How hard Covista's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.2% of total assets over 10 years.

  • Pricing power 16 / 20

    Gross margin has been a median 55.6%, moving by 4.8 percentage points (standard deviation) across 10 years.

  • Durability 11 / 20

    Operating margin has been a median 10.2%; its worst year was 6.6%.

  • Cash conversion 17 / 20

    Free cash flow was positive in 10 of 10 years, at a median 13.5% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 31.0% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (76 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 28, 2027, after the close. Analysts expect revenue of $519m and EPS of $2.38 (range $2.24 to $2.48) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $9.04 +10% $2.1bn +6%
Next $10.01 +11% $2.2bn +7%

Next year's EPS estimate has moved +0.5% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.8% on 90 days ago. In the last 30 days, 2 analysts raised Covista Inc.'s forecast and 1 cut it.

Consensus EPS forecast Covista Inc., last 90 days
$8.50 $9.00 $9.50 $10.00 $10.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $8.89 Current fiscal year, 60 days ago: $9.04 Current fiscal year, 30 days ago: $9.04 Current fiscal year, 7 days ago: $9.04 Current fiscal year, Now: $9.04 $9.04 Next fiscal year, 90 days ago: $9.96 Next fiscal year, 60 days ago: $10.01 Next fiscal year, 30 days ago: $10.01 Next fiscal year, 7 days ago: $10.01 Next fiscal year, Now: $10.01 $10.01

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $8.89$9.96
60 days ago $9.04$10.01
30 days ago $9.04$10.01
7 days ago $9.04$10.01
Now $9.04$10.01

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.83 $2.19 +19.5%
Jun 2026 $1.89 $2.09 +10.4%
Mar 2026 $1.72 $1.98 +14.9%
Dec 2025 $2.19 $2.43 +11.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 29, 2026
  • Revenue fiscal year 2027 $2,060m to $2,095m Raised
    “Revenue in the range of $2,060 million to $2,095 million, or approximately 5.5% to 7% growth year-over-year, and from a previous range of $2,050 million to $2,090 million” source
  • Adjusted earnings per share fiscal year 2027 $9.00 to $9.20 Non-GAAP Raised
    “Adjusted earnings per share in the range of $9.00 to $9.20, or approximately 9% to 11.5% growth year-over-year, and from a previous range of $8.90 to $9.15” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Covista Inc.'s revenue by +6.7% next year and +9.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+5.5%, weight 40%) , management guidance (+5.7%, weight 36%) and the company's own record (+10.1%, weight 24%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Oct 20261214
  2. Sep 20261214
  3. Aug 2026134

Counts of recommendations published by analysts covering Covista Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.4%
of tradable shares
Days to cover
8
at average volume
Short interest, 1 month
+43%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.7%
of shares
Employees
4,736
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +26.5%

$98.02 on October 31, 2025 to $124.03

ThenNowEffect
Revenue (last 12 months) $1.8bn $2.0bn +9.3%
Net margin 13.3% 12.9% −2.9%
P/E multiple 15.9x 17.6x +11.1%
Share count 38m 36m +7.3%

Biggest factor: p/e multiple.

Last 3 years +124.7%

$55.20 on November 3, 2023 to $124.03

ThenNowEffect
Revenue (last 12 months) $1.5bn $2.0bn +34.7%
Net margin 6.4% 12.9% +100.1%
P/E multiple 27.0x 17.6x −34.7%
Share count 46m 36m +27.7%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CVSA−13%+20%+66%+54%+14%+20%
Industry peers (median)−18%−10%+23%+14%−3%−9%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CVSA58%42%75%50%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CVSA−34%−38%−23%−27%−42%−24%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 66% from November 12, 2018 to February 23, 2022. Getting back needed a 195% gain, reached on December 1, 2023, 646 days after the low.

Price behaviour

52-week range
$89.36 – $140.98
From 52-week high
−12.0%
vs 50-day average
−2.9%
vs 200-day average
+3.6%
Volatility (1 year)
43%
Beta vs S&P 500
0.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±11.0%
After a week
8 up, 3 down
typical move ±11.6%
After a month
6 up, 5 down
typical move ±12.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 −1.7% −2.1% — —
August 6, 2026 +9.4% +0.5% +2.3% −0.6%
May 7, 2026 +16.0% +0.5% +9.7% +9.6%
January 28, 2026 −6.5% −0.2% −12.8% −14.9%
October 30, 2025 −30.5% −0.8% −32.5% −33.5%
August 7, 2025 +1.7% +0.7% +7.1% +13.7%
May 8, 2025 +18.7% +0.6% +13.6% +5.8%
January 30, 2025 +7.3% 0.0% +9.3% 0.0%
October 29, 2024 +12.0% −0.1% +10.8% +23.8%
August 6, 2024 −7.3% +0.2% −0.7% −2.2%
May 2, 2024 +18.9% +2.2% +26.7% +29.9%
January 31, 2024 −2.0% −0.3% +2.5% +3.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Covista Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Covista Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Covista Inc.
$1.4B $1.6B $1.8B $2B $2.2B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $1.5B Revenue (TTM), FY24 Q3: $1.5B Revenue (TTM), FY24 Q4: $1.6B Revenue (TTM), FY25 Q1: $1.6B Revenue (TTM), FY25 Q2: $1.7B Revenue (TTM), FY25 Q3: $1.7B Revenue (TTM), FY25 Q4: $1.8B Revenue (TTM), FY26 Q1: $1.8B Revenue (TTM), FY26 Q2: $1.9B Revenue (TTM), FY26 Q3: $1.9B Revenue (TTM), FY26 Q4: $2B Revenue (TTM), FY27 Q1: $2B $2B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $1.5B
FY24 Q3 $1.5B
FY24 Q4 $1.6B
FY25 Q1 $1.6B
FY25 Q2 $1.7B
FY25 Q3 $1.7B
FY25 Q4 $1.8B
FY26 Q1 $1.8B
FY26 Q2 $1.9B
FY26 Q3 $1.9B
FY26 Q4 $2B
FY27 Q1 $2B
Revenue growth, TTM YoY Covista Inc.
0% 5% 10% 15% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 3.7% Revenue growth, TTM YoY, FY24 Q3: 6.4% Revenue growth, TTM YoY, FY24 Q4: 9.2% Revenue growth, TTM YoY, FY25 Q1: 11.5% Revenue growth, TTM YoY, FY25 Q2: 12.8% Revenue growth, TTM YoY, FY25 Q3: 13.1% Revenue growth, TTM YoY, FY25 Q4: 12.9% Revenue growth, TTM YoY, FY26 Q1: 12.2% Revenue growth, TTM YoY, FY26 Q2: 11.9% Revenue growth, TTM YoY, FY26 Q3: 9.7% Revenue growth, TTM YoY, FY26 Q4: 9.3% Revenue growth, TTM YoY, FY27 Q1: 9.3% 9.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 3.7%
FY24 Q3 6.4%
FY24 Q4 9.2%
FY25 Q1 11.5%
FY25 Q2 12.8%
FY25 Q3 13.1%
FY25 Q4 12.9%
FY26 Q1 12.2%
FY26 Q2 11.9%
FY26 Q3 9.7%
FY26 Q4 9.3%
FY27 Q1 9.3%
Operating margin (TTM) Covista Inc.
12% 14% 16% 18% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 12.4% Operating margin (TTM), FY24 Q3: 12.2% Operating margin (TTM), FY24 Q4: 13.7% Operating margin (TTM), FY25 Q1: 15.9% Operating margin (TTM), FY25 Q2: 18.0% Operating margin (TTM), FY25 Q3: 19.1% Operating margin (TTM), FY25 Q4: 19.1% Operating margin (TTM), FY26 Q1: 19.5% Operating margin (TTM), FY26 Q2: 19.3% Operating margin (TTM), FY26 Q3: 19.1% Operating margin (TTM), FY26 Q4: 19.6% Operating margin (TTM), FY27 Q1: 19.8% 19.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 12.4%
FY24 Q3 12.2%
FY24 Q4 13.7%
FY25 Q1 15.9%
FY25 Q2 18.0%
FY25 Q3 19.1%
FY25 Q4 19.1%
FY26 Q1 19.5%
FY26 Q2 19.3%
FY26 Q3 19.1%
FY26 Q4 19.6%
FY27 Q1 19.8%
FCF margin (TTM) Covista Inc.
12% 14% 16% 18% 20% 22% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 13.0% FCF margin (TTM), FY24 Q3: 15.5% FCF margin (TTM), FY24 Q4: 15.6% FCF margin (TTM), FY25 Q1: 14.8% FCF margin (TTM), FY25 Q2: 13.9% FCF margin (TTM), FY25 Q3: 16.7% FCF margin (TTM), FY25 Q4: 16.1% FCF margin (TTM), FY26 Q1: 17.6% FCF margin (TTM), FY26 Q2: 19.5% FCF margin (TTM), FY26 Q3: 17.6% FCF margin (TTM), FY26 Q4: 20.1% FCF margin (TTM), FY27 Q1: 17.7% 17.7%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 13.0%
FY24 Q3 15.5%
FY24 Q4 15.6%
FY25 Q1 14.8%
FY25 Q2 13.9%
FY25 Q3 16.7%
FY25 Q4 16.1%
FY26 Q1 17.6%
FY26 Q2 19.5%
FY26 Q3 17.6%
FY26 Q4 20.1%
FY27 Q1 17.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Covista took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $2B
  2. Cost of revenue $834M · 42.7%
  3. Gross profit $1.1B · 57.3%
  4. Selling, general and admin $731M · 37.4%
  5. Operating income $383M · 19.6%
  6. Income tax $77.7M · 4.0%
  7. Interest and other $54.1M · 2.8%
  8. Net income $252M · 12.9%

Shares of revenue. Source: Covista's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026 LTM Sept 2026
Income
Revenue 1,915 2,160 2,072 1,964 1,923 1,910 1,080 1,208 960 1,014 866 899 1,382 1,451 1,585 1,788 1,954 2,003
Gross profit 1,089 1,246 1,111 1,002 940 910 511 570 499 542 409 441 722 802 886 1,017 1,120 1,150
EBITDA 462 558 313 250 264 242 — — — 190 142 144 121 210 257 382 427 440
Operating income 411 502 239 167 181 157 — — — 156 110 110 77 168 217 342 383 396
Net income 280 330 142 107 134 140 −3 122 34 95 −85 70 311 93 137 237 252 257
Diluted EPS $3.87 $4.68 $2.09 $1.65 $2.07 $2.14 −$0.05 $1.91 $0.54 $1.60 −$1.58 $1.36 $6.43 $2.05 $3.39 $6.18 $7.04 $7.33
Growth (year on year)
Revenue +31.0% +12.8% −4.1% −5.2% −2.1% −0.7% −43.4% +11.8% −20.5% +5.6% −14.5% +3.8% +53.7% +5.0% +9.2% +12.9% +9.3% +9.3%
EBITDA +68.3% +20.7% −43.8% −20.2% +5.6% −8.4% — — — — −24.9% +1.4% −15.9% +72.7% +22.5% +48.9% +11.8% +10.6%
Operating income +75.0% +22.1% −52.4% −30.1% +8.6% −13.4% — — — — −29.4% +0.3% −30.5% +119.1% +29.1% +57.4% +12.2% +11.0%
Net income +69.0% +18.0% −57.2% −24.6% +25.5% +4.4% −102.3% — −72.4% +181.8% −189.7% — +344.1% −70.0% +46.5% +73.3% +6.1% +1.8%
Diluted EPS +69.7% +20.9% −55.3% −21.1% +25.5% +3.4% −102.3% — −71.7% +196.3% −198.8% — +372.8% −68.1% +65.4% +82.3% +13.9% +9.7%
Margins
Gross margin 56.9% 57.7% 53.6% 51.0% 48.9% 47.6% 47.3% 47.2% 51.9% 53.5% 47.2% 49.1% 52.3% 55.3% 55.9% 56.9% 57.3% 57.4%
EBITDA margin 24.1% 25.8% 15.1% 12.7% 13.7% 12.7% — — — 18.7% 16.4% 16.0% 8.8% 14.4% 16.2% 21.4% 21.9% 22.0%
Operating margin 21.5% 23.2% 11.5% 8.5% 9.4% 8.2% — — — 15.4% 12.7% 12.3% 5.6% 11.6% 13.7% 19.1% 19.6% 19.8%
Net margin 14.6% 15.3% 6.8% 5.4% 7.0% 7.3% −0.3% 10.1% 3.5% 9.4% −9.8% 7.8% 22.5% 6.4% 8.6% 13.3% 12.9% 12.8%
Free-cash-flow margin 13.6% 12.7% 7.3% 7.6% 9.7% 6.1% 16.7% 15.6% 20.1% 14.5% 7.9% 16.9% −1.5% 11.4% 15.6% 16.1% 20.1% 17.7%
Cash flow
Cash from operations 392 408 277 262 266 206 231 231 239 205 108 192 11 192 296 338 470 454
Capital spending 131 133 125 112 79 89 51 43 47 58 40 40 31 26 49 50 78 99
Free cash flow 261 275 152 150 186 117 180 188 193 147 68 152 −20 166 247 288 393 355
Stock-based pay 10 14 19 15 18 17 22 17 14 13 14 13 23 14 26 42 41 41
Free cash flow after stock pay 250 261 134 134 169 99 158 172 178 134 54 139 −43 152 221 246 352 314
Balance sheet
Cash 308 447 174 197 358 353 308 240 431 204 501 476 347 272 219 200 406 222
Total debt 0 0 0 0 0 0 0 125 300 407 294 1,091 859 708 658 558 673 510
Net debt (negative = net cash) −308 −447 −174 −197 −358 −353 −308 −115 −131 203 −207 615 512 436 439 359 267 288
Diluted shares 72m 71m 68m 65m 65m 65m 64m 64m 62m 59m 54m 52m 48m 46m 40m 38m 36m 35m
Returned to shareholders
Dividends 13 16 18 32 22 23 23 11 0 0 — — — — — — — —
Buybacks 42 133 158 54 0 26 33 49 137 253 137 100 120 123 262 213 240 313
Total returned 55 148 176 85 22 49 56 60 137 253 137 100 120 123 262 213 240 313

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 7 checks passed · September 30, 2026
What it owns · $2.9bn
Short-term assets $553mLonger-term assets $2.4bn
What it owes, and who funded it · $2.9bn
Short-term liabilities $684mLonger-term liabilities $822mShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $553m of assets due within a year against $684m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $553m short-term assets against $822m of longer-dated liabilities.
  • More cash than debt $222m of cash against $500m of debt.
  • Debt below 40% of shareholders' equity Debt is 35% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 83% to 35% over five years.
  • A year's operating cash flow covers at least 20% of debt $454m of operating cash flow against $500m of debt.
  • Operating profit covers interest at least five times over Operating income of $396m against $44m of interest.

From Covista Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$313M
Buybacks, last 3 fiscal years
$715M
Diluted share count
−7.2%
year over year
Total shareholder yield
7.5%
dividends 0.0% + buybacks 7.5% of market value
Sales & admin spending
37.3%
of revenue
Days sales outstanding
44 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in education services
Last 12 months unless stated CVSA LAUR LRN KLC TAL STRA Median
Revenue, last 12 months $2.0bn $1.9bn $2.5bn $2.7bn $3.0bn $1.3bn $266m
Revenue growth, last 12 months 9.3% 20.9% 2.5% 1.8% 33.7% 3.5% 7.5%
Revenue growth, 3-year average 11.0% 10.5% 10.3% — 112.4% 6.1% 10.3%
Revenue growth, latest quarter 10.7% 21.2% 3.0% −0.4% — 4.9% 5.8%
Gross margin 57.4% 28.6% 37.4% — 55.4% — 54.6%
Operating margin 19.8% 25.8% 18.4% −14.9% 9.2% 14.0% 5.0%
Operating margin, 3-year average 18.4% 24.2% 15.9% −1.1% 2.4% 13.5% 5.9%
Net margin 12.8% 20.3% 13.2% −17.2% 17.6% 10.5% 3.9%
Cash from operations / revenue 22.7% 21.8% 19.9% 7.7% 20.0% 16.8% 8.4%
Free-cash-flow margin 17.7% 15.0% 19.9% 3.0% 16.9% 13.1% 5.8%
Free-cash-flow margin, 3-year average 16.7% 14.2% 16.0% — 7.4% 11.6% 5.4%
Stock pay / revenue 2.1% 0.7% 0.9% 0.3% 1.4% 1.7% 1.4%
Change in share count −7.2% −3.7% −7.1% 7.4% −6.0% −6.2% 0.7%

Median of all 25 companies we cover in education services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

25 education services companies
Measure Company Peer median Rank
Revenue growth Growth 9.3% 7.5% 11 of 25
Change in growth rate Growth +0.0pp -0.5pp 12 of 25
Gross margin Profitability 57.4% 54.6% 8 of 19
Operating margin Profitability 19.8% 5.0% 5 of 25
Net margin Profitability 12.8% 3.9% 7 of 25
Free-cash-flow margin Cash generation 17.7% 5.8% 6 of 25
Stock pay as % of revenue Cash generation 2.1% 1.4% 16 of 21
Long-term debt as % of assets Balance sheet 16.9% 16.5% 9 of 14
Change in share count Balance sheet -7.2% 0.7% 2 of 24
Days sales outstanding Balance sheet 44 days 29 days 12 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Segments
Line of business Revenue Share YoY
Walden University $805M 41.2% ▲ 16.1%
Chamberlain University $750M 38.4% ▲ 3.4%
Medical and Veterinary $399M 20.4% ▲ 8.1%
Products and services
Line of business Revenue Share YoY
Tuition $1.9B 99.5% ▲ 9.4%
Other Services $8.9M 0.5% ▼ 9.9%
Geography
Region Revenue Share YoY
Domestic Operations $1.6B 79.6% ▲ 9.6%
Barbados St.Kitts St.Maarten and United Kingdom $399M 20.4% ▲ 8.1%

From Covista Inc.'s 10-K filed August 6, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.3B
Institutions reporting
371
Shares held vs prior quarter
▼ 0.4%
Positions opened / closed
46 / 30

Top buyers and sellers, Q2 2026: 190 institutions bought and 162 sold ; the biggest buyer was FMR LLC (+564K shares) and the biggest seller Two Sigma Investments, LP (−235K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $683M 5.5M 16.0% ▲ 4.8%
FMR LLC $401M 3.2M 9.4% ▲ 21.2%
Vanguard Portfolio Management LLC $298M 2.4M 7.0% ▼ 1.4%
Dimensional Fund Advisors LP $222M 1.8M 5.2% ▲ 0.5%
Ariel Investments, LLC $221M 1.8M 5.2% ▼ 8.3%
Vanguard Capital Management LLC $184M 1.5M 4.3% ▼ 1.1%
State Street Corp $173M 1.4M 4.0% ▲ 3.0%
Capital World Investors $133M 1.1M 3.1% ▲ 3.3%
Geode Capital Management, LLC $111M 894K 2.6% ▲ 4.7%
Wellington Management Group LLP $100M 802K 2.3% ▼ 1.7%
Price T Rowe Associates Inc $95.7M 768K 2.2% ▲ 56.3%
Arrowstreet Capital, Limited Partnership $78.6M 630K 1.8% ▼ 15.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Covista Inc.'s complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $3.9M 6 trades by 2 insiders, last 12 months Insider sales History → $10.3M 17 trades by 5 insiders · 100% under pre-set plans
Net ▼ $6.4M net selling
Insider Date Trade Shares Price Value
Beard, Stephen W. Chairman & CEO October 9, 2026 Sell pre-set plan 4,667 $130.77 $610,299
Beard, Stephen W. Chairman & CEO October 8, 2026 Sell pre-set plan 3,639 $130.37 $474,413
Gangadharan Manjunath VP, Chief Accounting Officer August 27, 2026 Sell pre-set plan 1,802 $137.18 $247,198
Beard, Stephen W. Chairman & CEO August 11, 2026 Sell pre-set plan 3,545 $130.35 $462,091
Beck Douglas G. SVP, GC, Corp. Sec & ISS August 7, 2026 Sell pre-set plan 4,526 $135.81 $614,676
Phelan Robert J. Chief Financial Officer August 7, 2026 Sell pre-set plan 2,186 $135.15 $295,438
Beard, Stephen W. Chairman & CEO July 13, 2026 Sell pre-set plan 5,291 $132.75 $702,380
Beck Douglas G. SVP, GC, Corp. Sec & ISS July 8, 2026 Sell pre-set plan 2,439 $135.34 $330,094
Phelan Robert J. Chief Financial Officer July 8, 2026 Sell pre-set plan 2,414 $135.39 $326,831
Beck Douglas G. SVP, GC, Corp. Sec & ISS July 7, 2026 Sell pre-set plan 2,650 $135.40 $358,810
Phelan Robert J. Chief Financial Officer July 7, 2026 Sell pre-set plan 2,900 $135.41 $392,689
Beard, Stephen W. Chairman & CEO June 11, 2026 Sell pre-set plan 2,529 $130.78 $330,743

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • August 6, 2026
  • May 7, 2026
  • January 28, 2026
  • October 30, 2025
  • August 7, 2025

Recent SEC filings

Data status

When each part of this page on Covista Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Covista Inc. in brief

What does Covista Inc. do?
Covista Inc. is a US-listed company in the education services industry. Its financial year ends in June.
What is Covista Inc.'s stock ticker?
Covista Inc. trades under the ticker CVSA on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Covista Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Covista Inc. reported revenue of $2B, 9.3% higher than a year earlier, according to its SEC filings.
What is Covista Inc.'s free cash flow?
Covista Inc.'s free-cash-flow margin is 17.7% of revenue over the trailing twelve months, ranking 6 of the 25 education services companies we cover.
What is Covista Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Covista Inc.'s free cash flow after stock-based pay gives ~$250 per share in the base case, and ~$180–$330 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Covista Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Covista Inc. buying back stock, and does it pay a dividend?
Covista Inc. spent $313M on share repurchases over the trailing twelve months, and its diluted share count fell 7.2% over the year.
What is Covista Inc.'s market cap?
On November 2, 2026, Covista Inc.'s market capitalisation was about $4.4B, with a price-to-earnings ratio of 16.9 and net debt of $288M. Market figures come from third-party market data and may be delayed.
How much debt does Covista Inc. have?
Covista Inc.'s debt-to-equity ratio is 35.2%, from its latest balance sheet (82.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are Covista Inc.'s competitors?
In our Education Services peer group, the companies closest to Covista Inc. are Laureate Education, Inc., Stride, Inc., Kindercare Learning Companies, Inc., TAL Education Group and Strategic Education, Inc. The side-by-side comparison below sets their revenue, margins and growth against Covista Inc.'s.
Are insiders buying or selling Covista Inc. stock?
Over the last 12 months, Covista Inc.'s directors and officers reported 6 open-market purchases and 17 sales on Form 4. The insider trading page charts every trade.
When is Covista Inc.'s next earnings date?
Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Covista Inc. announces its own schedule.