Added to YB: 2025-11-06
Pitch date: 2025-11-03
CVEO [neutral]
Civeo Corporation
Author Info
No bio for this author
Company Info
Civeo Corporation engages in hospitality services to the natural resource industry in Canada, Australia, and internationally.
Market Cap
$249.1M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.02
P/E
-9.96
EV/Sales
0.70
Sector
Commercial Services and Supplies
Category
value
Civeo Q3 2025 Earnings — Notes
CVEO (earnings): Accommodation provider with 27.4% gross margin (up from 17.9% YoY), $8M quarterly FCF (3% of market cap). Australia strong with record utilization, targeting A$500M revenue by 2027. Canada weak at 24% utilization. Bull case: 40% Canada recovery + 2,000 mobile rooms = $115M EBITDA, 7x multiple = $618M equity value (2.3x current). Base case: $550M (2x current). Super-stress: $93M downside if Canada fails.
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