Civeo Corp Cda Financials
This page shows Civeo Corp Cda (CVEO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash generation has become the binding constraint as higher leverage replaces the company's earlier self-funded flexibility.
FY2025's gross margin rebounded to23.7% from21.9% , but operating margin stayed at just0.6% , so the bottleneck sits below direct costs rather than in basic pricing or mix. Because operating cash flow also fell to$22.3M from$83.5M , that weak drop-through turned a modest revenue decline into near-zero free cash flow and a much more financing-dependent balance sheet.
The business remains capital intensive: in FY2025, EBITDA was
Near-term liquidity looks adequate with a 1.5x current ratio and
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Civeo Corp Cda's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Civeo Corp Cda has an operating margin of 0.6%, meaning the company retains $1 of operating profit per $100 of revenue. This results in a moderate score of 34/100, indicating healthy but not exceptional operating efficiency. This is up from 0.2% the prior year.
Civeo Corp Cda's revenue declined 6.3% year-over-year, from $682.1M to $638.8M. This contraction results in a growth score of 19/100.
Civeo Corp Cda has elevated debt relative to equity (D/E of 1.05), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 29/100, reflecting increased financial risk.
Civeo Corp Cda's current ratio of 1.54 indicates adequate short-term liquidity, earning a score of 42/100. The company can meet its near-term obligations, though with limited headroom.
While Civeo Corp Cda generated $22.3M in operating cash flow, capex of $20.2M consumed most of it, leaving $2.1M in free cash flow. This results in a low score of 46/100, reflecting heavy capital investment rather than weak cash generation.
Civeo Corp Cda's ROE of -11.5% shows moderate profitability relative to equity, earning a score of 40/100. This is down from -7.2% the prior year.
Civeo Corp Cda scores -0.95, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($338.4M) relative to total liabilities ($303.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Civeo Corp Cda passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Civeo Corp Cda generates $-1.11 in operating cash flow ($22.3M OCF vs -$20.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Civeo Corp Cda earns $0.4 in operating income for every $1 of interest expense ($4.1M vs $11.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Civeo Corp Cda generated $638.8M in revenue in fiscal year 2025. This represents a decrease of 6.3% from the prior year.
Civeo Corp Cda's EBITDA was $76.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.6% from the prior year.
Civeo Corp Cda reported -$20.1M in net income in fiscal year 2025. This represents a decrease of 17.6% from the prior year.
Civeo Corp Cda earned $-1.59 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 33.6% from the prior year.
Cash & Balance Sheet
Civeo Corp Cda generated $2.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 96.3% from the prior year.
Civeo Corp Cda held $14.4M in cash against $182.8M in long-term debt as of fiscal year 2025.
Civeo Corp Cda had 11M shares outstanding in fiscal year 2025. This represents a decrease of 16.3% from the prior year.
Margins & Returns
Civeo Corp Cda's gross margin was 23.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.
Civeo Corp Cda's operating margin was 0.6% in fiscal year 2025, reflecting core business profitability. This is up 0.4 percentage points from the prior year.
Civeo Corp Cda's net profit margin was -3.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.
Civeo Corp Cda's ROE was -11.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.3 percentage points from the prior year.
Capital Allocation
Civeo Corp Cda spent $53.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 81.0% from the prior year.
Civeo Corp Cda invested $20.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 22.8% from the prior year.
CVEO Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $172.7M+6.8% | $161.6M-5.2% | $170.5M+4.8% | $162.7M+12.9% | $144.0M-4.6% | $151.0M-14.4% | $176.3M-6.6% | $188.7M |
| Cost of Revenue | $132.5M+6.1% | $124.9M-1.4% | $126.7M+4.3% | $121.5M+6.0% | $114.6M-6.7% | $122.8M-11.3% | $138.5M-1.6% | $140.8M |
| Gross Profit | $40.2M+9.4% | $36.7M-16.2% | $43.8M+6.4% | $41.2M+39.9% | $29.4M+4.7% | $28.1M-25.6% | $37.8M-21.1% | $47.9M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $20.1M+8.0% | $18.6M+2.6% | $18.1M-11.5% | $20.5M+12.6% | $18.2M+3.1% | $17.6M-10.2% | $19.6M+12.6% | $17.4M |
| Operating Income | $3.1M+2413.3% | -$135K-101.9% | $7.0M+148.8% | $2.8M+150.8% | -$5.5M+45.1% | -$10.0M-22925.0% | $44K-99.7% | $13.1M |
| Interest Expense | $3.8M+2.3% | $3.7M+7.5% | $3.4M+26.8% | $2.7M+66.7% | $1.6M-3.9% | $1.7M-2.3% | $1.7M-21.7% | $2.2M |
| Income Tax | $3.1M+8.8% | $2.9M-28.5% | $4.0M+12.0% | $3.6M+16.8% | $3.1M-6.2% | $3.3M-14.7% | $3.9M+2.0% | $3.8M |
| Net Income | -$3.8M+41.1% | -$6.5M-1319.8% | -$455K+86.3% | -$3.3M+66.3% | -$9.8M+34.7% | -$15.1M-196.0% | -$5.1M-161.9% | $8.2M |
| EPS (Diluted) | $-0.34 | N/A | $-0.04+84.0% | $-0.25+65.3% | $-0.72 | N/A | $-0.36-164.3% | $0.56 |
CVEO Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $491.6M+3.0% | $477.4M-2.8% | $491.1M-3.5% | $508.8M+20.1% | $423.8M+4.6% | $405.1M-15.2% | $477.6M-1.2% | $483.2M |
| Current Assets | $152.8M+16.5% | $131.2M-6.4% | $140.1M+0.7% | $139.2M+3.5% | $134.4M+21.7% | $110.5M-24.1% | $145.5M-4.0% | $151.6M |
| Cash & Equivalents | $16.5M+14.6% | $14.4M+20.3% | $12.0M-18.0% | $14.6M-48.4% | $28.4M+445.2% | $5.2M-70.9% | $17.9M+140.9% | $7.4M |
| Inventory | $6.3M+1.9% | $6.2M+7.1% | $5.8M-0.3% | $5.8M+1.5% | $5.7M-23.9% | $7.5M-14.0% | $8.8M+5.0% | $8.4M |
| Accounts Receivable | $107.2M+18.5% | $90.5M-13.8% | $105.0M+0.5% | $104.5M+11.6% | $93.6M+5.2% | $89.0M-16.6% | $106.7M-14.2% | $124.3M |
| Goodwill | $7.8M+3.1% | $7.5M+1.5% | $7.4M+0.2% | $7.4M+5.1% | $7.1M+0.7% | $7.0M-10.4% | $7.8M+3.6% | $7.5M |
| Total Liabilities | $330.9M+9.2% | $303.0M-1.8% | $308.5M+3.0% | $299.4M+47.5% | $203.0M+20.8% | $168.1M-13.2% | $193.7M+5.4% | $183.8M |
| Current Liabilities | $81.1M-4.5% | $84.9M-0.7% | $85.5M-7.3% | $92.2M+13.7% | $81.1M-12.4% | $92.6M-13.3% | $106.8M+8.9% | $98.1M |
| Long-Term Debt | $212.3M+16.1% | $182.8M-2.7% | $187.9M+11.4% | $168.7M+93.1% | $87.4M+101.8% | $43.3M-13.5% | $50.1M+5.5% | $47.5M |
| Total Equity | $160.7M-7.8% | $174.4M-4.5% | $182.5M-12.8% | $209.4M-5.1% | $220.7M-6.6% | $236.4M-16.2% | $282.2M-5.1% | $297.4M |
| Retained Earnings | -$1.1B-1.7% | -$1.1B-1.1% | -$1.0B-2.7% | -$1.0B-2.3% | -$997.4M-1.7% | -$980.7M-2.5% | -$956.5M-2.5% | -$933.3M |
CVEO Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.7M-150.6% | $19.3M+39.3% | $13.8M+697.9% | -$2.3M+72.6% | -$8.4M-188.9% | $9.5M-73.4% | $35.7M+10.2% | $32.4M |
| Capital Expenditures | $4.1M-14.1% | $4.8M-14.3% | $5.6M+24.7% | $4.5M-14.7% | $5.3M-31.8% | $7.7M+3.4% | $7.5M+40.6% | $5.3M |
| Free Cash Flow | -$13.9M-196.0% | $14.5M+75.9% | $8.2M+220.7% | -$6.8M+50.3% | -$13.7M-878.0% | $1.8M-93.7% | $28.2M+4.3% | $27.0M |
| Investing Cash Flow | -$3.9M+5.5% | -$4.2M+63.8% | -$11.5M+83.4% | -$69.3M-1258.5% | -$5.1M+31.2% | -$7.4M-0.4% | -$7.4M-471.3% | -$1.3M |
| Financing Cash Flow | $15.9M+223.1% | -$12.9M-178.0% | -$4.6M-108.3% | $55.6M+51.9% | $36.6M+317.2% | -$16.9M-18.6% | -$14.2M+65.1% | -$40.7M |
| Dividends Paid | $0 | $0 | $0 | $0-100.0% | $3.4M0.0% | $3.4M-4.9% | $3.6M-1.2% | $3.7M |
| Share Buybacks | $14.4M+191.3% | $4.9M-81.2% | $26.2M+36.9% | $19.1M+474.1% | $3.3M-40.0% | $5.6M-60.9% | $14.2M+113.8% | $6.6M |
CVEO Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.3%+0.6pp | 22.7%-3.0pp | 25.7%+0.4pp | 25.3%+4.9pp | 20.4%+1.8pp | 18.6%-2.8pp | 21.4%-3.9pp | 25.4% |
| Operating Margin | 1.8%+1.9pp | -0.1%-4.2pp | 4.1%+2.4pp | 1.7%+5.5pp | -3.8%+2.8pp | -6.7%-6.7pp | 0.0%-6.9pp | 7.0% |
| Net Margin | -2.2%+1.8pp | -4.0%-3.7pp | -0.3%+1.8pp | -2.0%+4.8pp | -6.8%+3.1pp | -10.0%-7.1pp | -2.9%-7.2pp | 4.4% |
| Return on Equity | -2.4%+1.3pp | -3.7%-3.5pp | -0.3%+1.3pp | -1.6%+2.9pp | -4.5%+1.9pp | -6.4%-4.6pp | -1.8%-4.6pp | 2.8% |
| Return on Assets | -0.8%+0.6pp | -1.4%-1.3pp | -0.1%+0.6pp | -0.7%+1.7pp | -2.3%+1.4pp | -3.7%-2.6pp | -1.1%-2.8pp | 1.7% |
| Current Ratio | 1.89+0.3 | 1.54-0.1 | 1.64+0.1 | 1.51-0.1 | 1.66+0.5 | 1.19-0.2 | 1.36-0.2 | 1.55 |
| Debt-to-Equity | 1.32+0.3 | 1.05+0.0 | 1.03+0.2 | 0.81+0.4 | 0.40+0.2 | 0.180.0 | 0.18+0.0 | 0.16 |
| FCF Margin | -8.0%-17.0pp | 8.9%+4.1pp | 4.8%+9.0pp | -4.2%+5.3pp | -9.5%-10.7pp | 1.2%-14.8pp | 16.0%+1.7pp | 14.3% |
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Frequently Asked Questions
What is Civeo Corp Cda's annual revenue?
Civeo Corp Cda (CVEO) reported $638.8M in total revenue for fiscal year 2025. This represents a -6.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Civeo Corp Cda's revenue growing?
Civeo Corp Cda (CVEO) revenue declined by 6.3% year-over-year, from $682.1M to $638.8M in fiscal year 2025.
Is Civeo Corp Cda profitable?
No, Civeo Corp Cda (CVEO) reported a net income of -$20.1M in fiscal year 2025, with a net profit margin of -3.1%.
What is Civeo Corp Cda's EBITDA?
Civeo Corp Cda (CVEO) had EBITDA of $76.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Civeo Corp Cda have?
As of fiscal year 2025, Civeo Corp Cda (CVEO) had $14.4M in cash and equivalents against $182.8M in long-term debt.
What is Civeo Corp Cda's gross margin?
Civeo Corp Cda (CVEO) had a gross margin of 23.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Civeo Corp Cda's operating margin?
Civeo Corp Cda (CVEO) had an operating margin of 0.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Civeo Corp Cda's net profit margin?
Civeo Corp Cda (CVEO) had a net profit margin of -3.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Civeo Corp Cda's return on equity (ROE)?
Civeo Corp Cda (CVEO) has a return on equity of -11.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Civeo Corp Cda's free cash flow?
Civeo Corp Cda (CVEO) generated $2.1M in free cash flow during fiscal year 2025. This represents a -96.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Civeo Corp Cda's operating cash flow?
Civeo Corp Cda (CVEO) generated $22.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Civeo Corp Cda's total assets?
Civeo Corp Cda (CVEO) had $477.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Civeo Corp Cda's capital expenditures?
Civeo Corp Cda (CVEO) invested $20.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Civeo Corp Cda's current ratio?
Civeo Corp Cda (CVEO) had a current ratio of 1.54 as of fiscal year 2025, which is generally considered healthy.
What is Civeo Corp Cda's debt-to-equity ratio?
Civeo Corp Cda (CVEO) had a debt-to-equity ratio of 1.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Civeo Corp Cda's return on assets (ROA)?
Civeo Corp Cda (CVEO) had a return on assets of -4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Civeo Corp Cda's Altman Z-Score?
Civeo Corp Cda (CVEO) has an Altman Z-Score of -0.95, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Civeo Corp Cda's Piotroski F-Score?
Civeo Corp Cda (CVEO) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Civeo Corp Cda's earnings high quality?
Civeo Corp Cda (CVEO) has an earnings quality ratio of -1.11x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Civeo Corp Cda cover its interest payments?
Civeo Corp Cda (CVEO) has an interest coverage ratio of 0.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Civeo Corp Cda?
Civeo Corp Cda (CVEO) scores 35 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.