Civeo (CVEO) Financials

$33.79 -0.22 (-0.64%)

Closing price 03:59 PM Eastern

Extended Trading

$33.64 -0.15 (-0.46%)

As of 05:44 PM Eastern

Annual Income Statements for Civeo

This table shows Civeo's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	2.23	30	-17
Consolidated Net Income / (Loss)	6.33	30	-18
Net Income / (Loss) Continuing Operations	6.33	30	-18
Total Pre-Tax Income	11	40	-5.94
Total Operating Income	17	39	1.33
Total Gross Profit	180	171	149
Total Revenue	697	701	682
Operating Revenue	697	701	682
Total Cost of Revenue	517	530	533
Operating Cost of Revenue	517	530	533
Total Operating Expenses	163	131	148
Selling, General & Admin Expense	70	73	74
Depreciation Expense	87	75	68
Impairment Charge	5.72	1.40	12
Other Special Charges / (Income)	0.00	-19	-5.74
Total Other Income / (Expense), net	-6.29	0.88	-7.27
Interest Expense	11	13	7.97
Interest & Investment Income	0.04	0.17	0.19
Other Income / (Expense), net	5.15	14	0.52
Income Tax Expense	4.40	11	12
Preferred Stock Dividends Declared	1.77	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	2.33	-0.43	-1.36
Basic Earnings per Share	($0.21)	$2.02	($1.19)
Weighted Average Basic Shares Outstanding	14.00M	14.91M	14.29M
Diluted Earnings per Share	($0.21)	$2.01	($1.19)
Weighted Average Diluted Shares Outstanding	14.00M	15.01M	14.29M
Weighted Average Basic & Diluted Shares Outstanding	15.22M	14.67M	13.65M
Cash Dividends to Common per Share	-	-	$1.00

This table shows Civeo's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	5.23	-13	-6.35	4.46	9.02	23	-5.13	8.23	-5.09	-15
Consolidated Net Income / (Loss)	6.26	-12	-6.31	4.17	9.22	23	-5.20	7.49	-5.29	-15
Net Income / (Loss) Continuing Operations	6.26	-12	-6.31	4.17	9.22	23	-5.20	7.49	-5.29	-15
Total Pre-Tax Income	9.98	-15	-5.08	7.05	8.01	30	-3.65	11	-1.43	-12
Total Operating Income	11	-12	-3.90	10	16	17	-1.78	13	0.04	-10
Total Gross Profit	51	35	34	47	53	36	36	48	38	28
Total Revenue	184	162	168	179	184	171	166	189	176	151
Operating Revenue	184	162	168	179	184	171	166	189	176	151
Total Cost of Revenue	133	128	134	131	130	135	130	141	139	123
Operating Cost of Revenue	133	128	134	131	130	135	130	141	139	123
Total Operating Expenses	40	47	38	37	37	19	37	35	38	38
Selling, General & Admin Expense	18	19	16	16	20	20	19	17	20	19
Depreciation Expense	23	21	22	21	17	16	17	17	17	17
Impairment Charge	-	-	0.00	0.00	0.00	1.40	7.82	0.00	0.00	3.76
Other Special Charges / (Income)	-	-	0.00	0.00	0.00	-19	-6.08	0.09	0.17	0.07
Total Other Income / (Expense), net	-0.81	-2.51	-1.17	-3.13	-8.03	13	-1.86	-1.84	-1.47	-2.10
Interest Expense	3.00	3.40	3.66	3.60	3.37	2.55	2.36	2.20	1.73	1.69
Interest & Investment Income	0.01	0.02	0.03	0.05	0.04	0.05	0.04	0.05	0.05	0.04
Other Income / (Expense), net	2.18	0.86	2.45	0.43	-4.71	16	0.45	0.31	0.20	-0.45
Income Tax Expense	3.71	-2.69	1.23	2.88	-1.21	7.74	1.55	3.79	3.86	3.29
Net Income / (Loss) Attributable to Noncontrolling Interest	0.55	0.63	0.04	-0.30	0.20	-0.37	-0.06	-0.74	-0.20	-0.36
Basic Earnings per Share	$0.32	($0.93)	($0.42)	$0.30	$0.61	$1.53	($0.35)	$0.57	($0.36)	($1.05)
Weighted Average Basic Shares Outstanding	13.93M	14.00M	15.16M	14.97M	14.81M	14.91M	14.66M	14.52M	14.29M	14.29M
Diluted Earnings per Share	$0.32	($0.93)	($0.42)	$0.30	$0.61	$1.52	($0.35)	$0.56	($0.36)	($1.04)
Weighted Average Diluted Shares Outstanding	14.06M	14.00M	15.16M	15M	14.89M	15.01M	14.66M	14.60M	14.29M	14.29M
Weighted Average Basic & Diluted Shares Outstanding	13.71M	15.22M	15.05M	14.84M	14.75M	14.67M	14.62M	14.37M	13.77M	13.65M

This table details how cash moves in and out of Civeo's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	1.67	-4.63	1.88
Net Cash From Operating Activities	92	97	84
Net Cash From Continuing Operating Activities	92	97	84
Net Income / (Loss) Continuing Operations	6.33	30	-18
Consolidated Net Income / (Loss)	6.33	30	-18
Depreciation Expense	87	75	68
Non-Cash Adjustments To Reconcile Net Income	7.98	-14	9.78
Changes in Operating Assets and Liabilities, net	-9.75	5.24	24
Net Cash From Investing Activities	-8.95	-15	-15
Net Cash From Continuing Investing Activities	-8.95	-15	-15
Purchase of Property, Plant & Equipment	-25	-32	-26
Sale of Property, Plant & Equipment	16	17	11
Other Investing Activities, net	0.19	0.37	0.18
Net Cash From Financing Activities	-80	-87	-65
Net Cash From Continuing Financing Activities	-80	-87	-65
Repayment of Debt	-325	-278	-305
Repurchase of Preferred Equity	-31	0.00	0.00
Repurchase of Common Equity	-14	-12	-30
Payment of Dividends	0.00	-7.42	-14
Issuance of Debt	290	211	284
Other Net Changes in Cash	-	-	-1.49

This table details how cash moves in and out of Civeo's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	3.58	-0.41	4.41	-0.95	-3.60	-4.49	13	-9.32	10	-13
Net Cash From Operating Activities	39	29	0.36	19	37	40	5.99	32	36	9.50
Net Cash From Continuing Operating Activities	39	29	0.36	19	37	40	5.99	32	36	9.50
Net Income / (Loss) Continuing Operations	6.26	-12	-6.31	4.17	9.22	23	-5.20	7.49	-5.29	-15
Consolidated Net Income / (Loss)	6.26	-12	-6.31	4.17	9.22	23	-5.20	7.49	-5.29	-15
Depreciation Expense	23	21	22	21	17	16	17	17	17	17
Non-Cash Adjustments To Reconcile Net Income	-0.43	6.81	0.56	0.22	6.81	-21	3.03	1.14	1.30	4.31
Changes in Operating Assets and Liabilities, net	10	13	-16	-5.68	3.89	23	-8.62	6.68	22	3.85
Net Cash From Investing Activities	-0.15	-3.64	-2.51	-6.49	-5.11	-0.41	1.17	-1.29	-7.39	-7.42
Net Cash From Continuing Investing Activities	-0.15	-3.64	-2.51	-6.49	-5.11	-0.41	1.17	-1.29	-7.39	-7.42
Purchase of Property, Plant & Equipment	-8.82	-7.96	-4.77	-6.95	-9.46	-10	-5.61	-5.32	-7.48	-7.73
Sale of Property, Plant & Equipment	8.67	4.31	2.27	0.45	4.35	9.67	6.78	3.84	0.08	0.31
Net Cash From Financing Activities	-33	-27	6.57	-13	-35	-45	6.61	-41	-14	-17
Net Cash From Continuing Financing Activities	-33	-27	6.57	-13	-35	-45	6.61	-41	-14	-17
Repayment of Debt	-69	-82	-38	-76	-88	-76	-66	-70	-109	-60
Repurchase of Common Equity	-14	-	-3.77	-4.20	-1.25	-2.41	-3.21	-6.64	-14	-5.56
Payment of Dividends	-	-	0.00	-	-3.73	-3.69	-3.71	-3.66	-3.62	-3.44
Issuance of Debt	49	85	48	67	58	38	81	40	113	51

This table presents Civeo's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Total Assets	566	548	405
Total Current Assets	154	175	110
Cash & Equivalents	7.95	3.32	5.20
Accounts Receivable	120	143	89
Inventories, net	6.91	6.98	7.54
Prepaid Expenses	7.20	8.44	7.46
Other Current Assets	3.08	7.41	1.21
Other Current Nonoperating Assets	8.65	5.87	0.00
Plant, Property, & Equipment, net	302	271	205
Total Noncurrent Assets	111	102	90
Goodwill	7.67	7.69	7.00
Intangible Assets	82	78	67
Other Noncurrent Operating Assets	21	17	16
Total Liabilities & Shareholders' Equity	566	548	405
Total Liabilities	262	225	168
Total Current Liabilities	128	114	93
Accounts Payable	51	59	40
Accrued Expenses	39	41	35
Current Deferred Revenue	0.99	4.85	2.50
Current Deferred & Payable Income Tax Liabilities	0.18	3.83	11
Other Current Liabilities	8.34	6.33	4.39
Total Noncurrent Liabilities	134	111	75
Long-Term Debt	103	66	43
Noncurrent Deferred & Payable Income Tax Liabilities	4.78	12	3.56
Other Noncurrent Operating Liabilities	27	33	29
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	304	323	237
Total Preferred & Common Equity	300	320	236
Total Common Equity	300	320	236
Common Stock	1,625	1,629	1,632
Retained Earnings	-930	-919	-981
Treasury Stock	-9.06	-9.06	-10
Accumulated Other Comprehensive Income / (Loss)	-385	-381	-405
Noncontrolling Interest	3.56	2.87	0.63

This table presents Civeo's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	583	551	559	557	513	483	478
Total Current Assets	165	159	176	191	169	152	146
Cash & Equivalents	8.36	12	11	7.82	17	7.44	18
Accounts Receivable	122	123	140	154	131	124	107
Inventories, net	6.98	7.38	7.17	6.27	7.23	8.35	8.77
Prepaid Expenses	9.49	5.14	6.17	11	6.09	9.09	11
Other Current Assets	3.85	2.59	2.83	3.25	3.52	2.38	1.22
Other Current Nonoperating Assets	14	8.18	8.20	8.19	3.80	0.00	0.00
Plant, Property, & Equipment, net	310	284	276	263	246	237	234
Total Noncurrent Assets	109	108	108	103	98	95	98
Goodwill	7.32	7.57	7.52	7.29	7.36	7.54	7.81
Intangible Assets	82	80	81	78	75	73	72
Other Noncurrent Operating Assets	20	20	19	18	16	15	18
Total Liabilities & Shareholders' Equity	583	551	559	557	513	483	478
Total Liabilities	247	259	264	263	213	184	194
Total Current Liabilities	118	103	103	125	93	98	107
Accounts Payable	46	48	48	53	49	47	48
Accrued Expenses	32	21	28	49	26	32	36
Current Deferred Revenue	2.09	3.99	3.10	6.88	4.49	4.19	2.79
Current Deferred & Payable Income Tax Liabilities	0.11	0.22	0.10	0.17	7.43	9.69	14
Other Current Liabilities	8.90	8.39	9.53	9.28	6.17	4.86	5.04
Total Noncurrent Liabilities	129	156	161	137	120	86	87
Long-Term Debt	97	120	121	96	79	47	50
Noncurrent Deferred & Payable Income Tax Liabilities	7.34	5.87	8.63	7.02	9.05	7.18	5.24
Other Noncurrent Operating Liabilities	25	29	31	34	32	31	32
Total Equity & Noncontrolling Interests	336	292	295	294	300	299	284
Total Preferred & Common Equity	333	289	292	291	297	297	282
Total Common Equity	270	289	292	291	297	297	282
Common Stock	1,585	1,625	1,627	1,628	1,630	1,630	1,631
Retained Earnings	-912	-940	-940	-936	-931	-933	-957
Treasury Stock	-9.06	-9.06	-9.06	-9.06	-10	-10	-10
Accumulated Other Comprehensive Income / (Loss)	-394	-387	-385	-392	-391	-389	-382
Noncontrolling Interest	2.89	3.47	3.17	3.24	2.73	1.96	1.79

This table displays calculated financial ratios and metrics derived from Civeo's official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	17.26%	0.54%	-2.67%
EBITDA Growth	6.87%	17.49%	-45.62%
EBIT Growth	15.15%	140.75%	-96.54%
NOPAT Growth	290.10%	189.76%	-96.79%
Net Income Growth	153.50%	369.67%	-161.99%
EPS Growth	-425.00%	1,057.14%	-159.20%
Operating Cash Flow Growth	3.66%	5.22%	-13.52%
Free Cash Flow Firm Growth	12.25%	-38.55%	55.36%
Invested Capital Growth	-19.33%	-9.25%	-27.49%
Revenue Q/Q Growth	0.35%	1.24%	-2.83%
EBITDA Q/Q Growth	-18.67%	43.17%	-37.81%
EBIT Q/Q Growth	-54.30%	487.24%	-95.91%
NOPAT Q/Q Growth	-65.43%	312.98%	-93.92%
Net Income Q/Q Growth	-78.39%	695.55%	-193.77%
EPS Q/Q Growth	-111.67%	602.50%	-186.86%
Operating Cash Flow Q/Q Growth	4.69%	12.29%	-26.74%
Free Cash Flow Firm Q/Q Growth	-4.75%	4.44%	31.25%
Invested Capital Q/Q Growth	-4.72%	-0.41%	-12.98%
Profitability Metrics	-	-	-
Gross Margin	25.82%	24.33%	21.91%
EBITDA Margin	15.69%	18.34%	10.25%
Operating Margin	2.44%	5.63%	0.20%
EBIT Margin	3.18%	7.62%	0.27%
Profit (Net Income) Margin	0.91%	4.24%	-2.70%
Tax Burden Percent	58.98%	73.66%	310.41%
Interest Burden Percent	48.41%	75.63%	-321.09%
Effective Tax Rate	41.02%	26.34%	0.00%
Return on Invested Capital (ROIC)	2.14%	7.29%	0.28%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.61%	8.05%	-40.71%
Return on Net Nonoperating Assets (RNNOA)	-0.25%	2.19%	-6.87%
Return on Equity (ROE)	1.90%	9.49%	-6.58%
Cash Return on Invested Capital (CROIC)	23.55%	16.99%	32.16%
Operating Return on Assets (OROA)	3.58%	9.58%	0.39%
Return on Assets (ROA)	1.02%	5.34%	-3.87%
Return on Common Equity (ROCE)	1.71%	9.39%	-6.54%
Return on Equity Simple (ROE_SIMPLE)	2.11%	9.29%	-7.80%
Net Operating Profit after Tax (NOPAT)	10	29	0.93
NOPAT Margin	1.44%	4.15%	0.14%
Net Nonoperating Expense Percent (NNEP)	2.75%	-0.76%	41.00%
Return On Investment Capital (ROIC_SIMPLE)	2.31%	7.48%	0.33%
Cost of Revenue to Revenue	74.18%	75.67%	78.09%
SG&A Expenses to Revenue	10.05%	10.43%	10.88%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	23.38%	18.70%	21.72%
Earnings before Interest and Taxes (EBIT)	22	53	1.85
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	109	129	70
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.32	1.00	1.31
Price to Tangible Book Value (P/TBV)	1.88	1.37	1.90
Price to Revenue (P/Rev)	0.57	0.46	0.45
Price to Earnings (P/E)	178.15	10.63	0.00
Dividend Yield	0.00%	2.30%	4.44%
Earnings Yield	0.56%	9.41%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.25	1.02	1.27
Enterprise Value to Revenue (EV/Rev)	0.75	0.55	0.51
Enterprise Value to EBITDA (EV/EBITDA)	4.78	3.00	4.99
Enterprise Value to EBIT (EV/EBIT)	23.60	7.23	188.63
Enterprise Value to NOPAT (EV/NOPAT)	52.12	13.26	374.06
Enterprise Value to Operating Cash Flow (EV/OCF)	5.70	3.99	4.18
Enterprise Value to Free Cash Flow (EV/FCFF)	4.75	5.69	3.31
Leverage & Solvency	-	-	-
Debt to Equity	0.43	0.20	0.18
Long-Term Debt to Equity	0.34	0.20	0.18
Financial Leverage	0.40	0.27	0.17
Leverage Ratio	1.86	1.78	1.70
Compound Leverage Factor	0.90	1.34	-5.46
Debt to Total Capital	30.13%	16.87%	15.45%
Short-Term Debt to Total Capital	6.55%	0.00%	0.00%
Long-Term Debt to Total Capital	23.58%	16.87%	15.45%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.82%	0.74%	0.22%
Common Equity to Total Capital	69.05%	82.39%	84.33%
Debt to EBITDA	1.20	0.51	0.62
Net Debt to EBITDA	1.12	0.48	0.55
Long-Term Debt to EBITDA	0.94	0.51	0.62
Debt to NOPAT	13.05	2.25	46.44
Net Debt to NOPAT	12.25	2.14	40.86
Long-Term Debt to NOPAT	10.21	2.25	46.44
Altman Z-Score	0.02	0.24	-0.53
Noncontrolling Interest Sharing Ratio	10.07%	1.03%	0.62%
Liquidity Ratios	-	-	-
Current Ratio	1.20	1.53	1.19
Quick Ratio	1.00	1.28	1.02
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	110	68	105
Operating Cash Flow to CapEx	1,004.63%	648.39%	552.06%
Free Cash Flow to Firm to Interest Expense	9.61	5.14	13.20
Operating Cash Flow to Interest Expense	8.00	7.33	10.47
Operating Cash Flow Less CapEx to Interest Expense	7.20	6.20	8.58
Efficiency Ratios	-	-	-
Asset Turnover	1.13	1.26	1.43
Accounts Receivable Turnover	5.94	5.33	5.87
Inventory Turnover	77.32	76.36	73.38
Fixed Asset Turnover	2.01	2.45	2.87
Accounts Payable Turnover	10.30	9.66	10.80
Days Sales Outstanding (DSO)	61.43	68.48	62.14
Days Inventory Outstanding (DIO)	4.72	4.78	4.97
Days Payable Outstanding (DPO)	35.44	37.78	33.81
Cash Conversion Cycle (CCC)	30.71	35.48	33.31
Capital & Investment Metrics	-	-	-
Invested Capital	418	379	275
Invested Capital Turnover	1.49	1.76	2.08
Increase / (Decrease) in Invested Capital	-100	-39	-104
Enterprise Value (EV)	523	386	349
Market Capitalization	397	320	310
Book Value per Share	$21.89	$21.71	$17.16
Tangible Book Value per Share	$15.37	$15.90	$11.83
Total Capital	435	389	280
Total Debt	131	66	43
Total Long-Term Debt	103	66	43
Net Debt	123	62	38
Capital Expenditures (CapEx)	9.14	15	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	46	58	13
Debt-free Net Working Capital (DFNWC)	54	61	18
Net Working Capital (NWC)	25	61	18
Net Nonoperating Expense (NNE)	3.71	-0.65	19
Net Nonoperating Obligations (NNO)	114	56	38
Total Depreciation and Amortization (D&A)	87	75	68
Debt-free, Cash-free Net Working Capital to Revenue	6.57%	8.23%	1.85%
Debt-free Net Working Capital to Revenue	7.71%	8.71%	2.61%
Net Working Capital to Revenue	3.63%	8.71%	2.61%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($0.21)	$2.02	($1.19)
Adjusted Weighted Average Basic Shares Outstanding	14.00M	14.91M	14.29M
Adjusted Diluted Earnings per Share	($0.21)	$2.01	($1.19)
Adjusted Weighted Average Diluted Shares Outstanding	14.00M	15.01M	14.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	15.22M	14.67M	13.65M
Normalized Net Operating Profit after Tax (NOPAT)	13	16	5.02
Normalized NOPAT Margin	1.92%	2.34%	0.74%
Pre Tax Income Margin	1.54%	5.76%	-0.87%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	1.93	4.05	0.23
NOPAT to Interest Expense	0.87	2.21	0.12
EBIT Less CapEx to Interest Expense	1.14	2.92	-1.67
NOPAT Less CapEx to Interest Expense	0.08	1.08	-1.78
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	24.97%	-78.26%
Augmented Payout Ratio	224.47%	64.10%	-238.96%

This table displays calculated financial ratios and metrics derived from Civeo's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	18.81%	1.50%	1.15%	-3.30%	-0.36%	5.31%	-0.88%	5.52%	-3.94%	-11.62%
EBITDA Growth	33.45%	-71.50%	-22.46%	-17.06%	-20.60%	387.14%	-23.58%	-2.62%	-37.37%	-87.13%
EBIT Growth	103.39%	-176.18%	-124.51%	-27.69%	-12.60%	388.86%	8.67%	26.63%	-97.81%	-131.90%
NOPAT Growth	207.78%	-220.00%	-217.13%	-50.23%	172.79%	249.39%	54.38%	44.74%	-99.83%	-154.90%
Net Income Growth	512.82%	-210.84%	-430.77%	-59.27%	47.26%	287.65%	17.67%	79.67%	-157.35%	-168.13%
EPS Growth	0.00%	-234.78%	-800.00%	-44.44%	90.63%	263.44%	16.67%	86.67%	-159.02%	-168.42%
Operating Cash Flow Growth	14.31%	16.24%	-81.67%	-10.49%	-4.93%	35.95%	1,571.79%	66.77%	-3.15%	-76.24%
Free Cash Flow Firm Growth	0.23%	-10.85%	77.03%	1.46%	-18.39%	-43.84%	-53.06%	-14.99%	-14.95%	89.04%
Invested Capital Growth	-16.50%	-19.33%	-22.21%	-17.76%	-13.18%	-9.25%	-13.40%	-17.49%	-17.02%	-27.49%
Revenue Q/Q Growth	-0.39%	-11.96%	3.33%	6.71%	2.64%	-6.96%	-2.74%	13.60%	-6.56%	-14.40%
EBITDA Q/Q Growth	-5.74%	-71.86%	101.90%	54.89%	-9.76%	72.63%	-68.33%	97.39%	-41.97%	-64.52%
EBIT Q/Q Growth	-11.55%	-187.84%	87.23%	828.95%	6.90%	190.32%	-104.04%	1,110.69%	-98.15%	-4,331.05%
NOPAT Q/Q Growth	-44.00%	-226.60%	68.12%	320.16%	206.99%	-30.67%	-109.74%	798.51%	-99.65%	-22,925.00%
Net Income Q/Q Growth	-38.78%	-292.74%	47.72%	166.03%	121.33%	145.59%	-122.94%	244.09%	-170.64%	-191.76%
EPS Q/Q Growth	-40.74%	-390.63%	54.84%	171.43%	103.33%	149.18%	-123.03%	260.00%	-164.29%	-188.89%
Operating Cash Flow Q/Q Growth	78.71%	-24.11%	-98.78%	5,319.83%	89.83%	8.53%	-85.03%	440.65%	10.24%	-73.38%
Free Cash Flow Firm Q/Q Growth	-0.02%	-1.98%	25.91%	-17.78%	-19.58%	-32.54%	5.24%	48.91%	-19.55%	49.94%
Invested Capital Q/Q Growth	-12.28%	-4.72%	-1.08%	-0.53%	-7.39%	-0.41%	-5.60%	-5.22%	-6.87%	-12.98%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.54%	21.28%	20.33%	26.51%	29.02%	20.93%	21.48%	25.37%	21.43%	18.62%
EBITDA Margin	19.31%	6.17%	12.06%	17.50%	15.39%	28.55%	9.30%	16.15%	10.03%	4.16%
Operating Margin	5.85%	-7.55%	-2.33%	5.69%	8.74%	10.06%	-1.07%	6.95%	0.03%	-6.65%
EBIT Margin	7.04%	-7.02%	-0.87%	5.93%	6.17%	19.26%	-0.80%	7.11%	0.14%	-6.95%
Profit (Net Income) Margin	3.40%	-7.44%	-3.77%	2.33%	5.02%	13.26%	-3.13%	3.97%	-3.00%	-10.22%
Tax Burden Percent	62.78%	81.78%	124.28%	59.15%	115.16%	74.54%	142.55%	66.42%	370.64%	127.13%
Interest Burden Percent	76.95%	129.62%	349.24%	66.47%	70.69%	92.38%	274.47%	83.99%	-575.40%	115.68%
Effective Tax Rate	37.22%	0.00%	0.00%	40.85%	-15.16%	25.46%	0.00%	33.58%	0.00%	0.00%
Return on Invested Capital (ROIC)	5.30%	-7.87%	-2.41%	5.11%	16.99%	13.18%	-1.36%	8.72%	0.04%	-9.71%
ROIC Less NNEP Spread (ROIC-NNEP)	4.93%	-10.47%	-4.97%	3.65%	7.24%	24.71%	-5.76%	7.15%	-8.89%	-27.50%
Return on Net Nonoperating Assets (RNNOA)	1.97%	-4.23%	-2.09%	1.40%	2.18%	6.73%	-1.75%	1.88%	-1.83%	-4.64%
Return on Equity (ROE)	7.26%	-12.10%	-4.50%	6.51%	19.17%	19.91%	-3.11%	10.60%	-1.80%	-14.35%
Cash Return on Invested Capital (CROIC)	24.01%	23.55%	23.37%	20.23%	15.82%	16.99%	22.32%	27.97%	23.01%	32.16%
Operating Return on Assets (OROA)	7.71%	-7.90%	-0.99%	6.86%	7.50%	24.23%	-1.05%	9.68%	0.19%	-9.95%
Return on Assets (ROA)	3.73%	-8.37%	-4.30%	2.70%	6.10%	16.68%	-4.11%	5.40%	-4.07%	-14.63%
Return on Common Equity (ROCE)	5.91%	-10.88%	-4.04%	5.84%	17.05%	19.71%	-3.07%	10.50%	-1.78%	-14.26%
Return on Equity Simple (ROE_SIMPLE)	8.79%	0.00%	-0.65%	-2.72%	-1.72%	0.00%	10.37%	11.49%	6.97%	0.00%
Net Operating Profit after Tax (NOPAT)	6.77	-8.57	-2.73	6.02	18	13	-1.25	8.71	0.03	-7.03
NOPAT Margin	3.68%	-5.29%	-1.63%	3.36%	10.06%	7.50%	-0.75%	4.61%	0.02%	-4.66%
Net Nonoperating Expense Percent (NNEP)	0.37%	2.60%	2.56%	1.46%	9.76%	-11.53%	4.40%	1.56%	8.93%	17.79%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.97%	-	-	-	3.30%	-	-	-	-2.51%
Cost of Revenue to Revenue	72.46%	78.72%	79.67%	73.49%	70.98%	79.07%	78.52%	74.63%	78.57%	81.38%
SG&A Expenses to Revenue	9.60%	12.00%	9.66%	9.20%	11.02%	11.83%	11.22%	9.24%	11.13%	12.28%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.68%	28.83%	22.66%	20.83%	20.28%	10.87%	22.55%	18.42%	21.41%	25.27%
Earnings before Interest and Taxes (EBIT)	13	-11	-1.45	11	11	33	-1.33	13	0.25	-10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	36	10	20	31	28	49	15	30	18	6.28
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.26	1.32	1.04	0.96	1.02	1.00	1.31	1.23	1.40	1.31
Price to Tangible Book Value (P/TBV)	1.89	1.88	1.50	1.38	1.43	1.37	1.81	1.68	1.95	1.90
Price to Revenue (P/Rev)	0.49	0.57	0.43	0.40	0.43	0.46	0.56	0.51	0.56	0.45
Price to Earnings (P/E)	13.64	178.15	0.00	0.00	0.00	10.63	12.43	10.37	18.73	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	1.26%	2.30%	2.82%	4.01%	4.56%	4.44%
Earnings Yield	7.33%	0.56%	0.00%	0.00%	0.00%	9.41%	8.05%	9.64%	5.34%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.19	1.25	1.05	0.99	1.03	1.02	1.27	1.20	1.35	1.27
Enterprise Value to Revenue (EV/Rev)	0.75	0.75	0.62	0.59	0.57	0.55	0.65	0.57	0.61	0.51
Enterprise Value to EBITDA (EV/EBITDA)	3.90	4.78	4.19	4.20	4.39	3.00	3.67	3.31	3.81	4.99
Enterprise Value to EBIT (EV/EBIT)	10.80	23.60	29.35	38.05	43.32	7.23	8.50	7.22	9.46	188.63
Enterprise Value to NOPAT (EV/NOPAT)	18.04	52.12	0.00	121.24	55.90	13.26	14.80	12.29	27.89	374.06
Enterprise Value to Operating Cash Flow (EV/OCF)	5.98	5.70	4.81	4.64	4.58	3.99	4.45	3.53	3.75	4.18
Enterprise Value to Free Cash Flow (EV/FCFF)	4.53	4.75	3.93	4.42	6.07	5.69	5.28	3.87	5.33	3.31
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.37	0.43	0.49	0.46	0.35	0.20	0.26	0.16	0.18	0.18
Long-Term Debt to Equity	0.29	0.34	0.41	0.41	0.33	0.20	0.26	0.16	0.18	0.18
Financial Leverage	0.40	0.40	0.42	0.38	0.30	0.27	0.30	0.26	0.21	0.17
Leverage Ratio	1.84	1.86	1.84	1.82	1.81	1.78	1.80	1.75	1.79	1.70
Compound Leverage Factor	1.42	2.41	6.43	1.21	1.28	1.64	4.93	1.47	-10.30	1.97
Debt to Total Capital	27.05%	30.13%	32.69%	31.48%	25.95%	16.87%	20.75%	13.69%	14.99%	15.45%
Short-Term Debt to Total Capital	6.07%	6.55%	4.95%	3.40%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	20.99%	23.58%	27.74%	28.07%	24.15%	16.87%	20.75%	13.69%	14.99%	15.45%
Preferred Equity to Total Capital	13.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.63%	0.82%	0.80%	0.74%	0.82%	0.74%	0.72%	0.57%	0.53%	0.22%
Common Equity to Total Capital	58.56%	69.05%	66.51%	67.79%	73.24%	82.39%	78.52%	85.74%	84.47%	84.33%
Debt to EBITDA	0.93	1.20	1.37	1.40	1.15	0.51	0.64	0.39	0.45	0.62
Net Debt to EBITDA	0.87	1.12	1.25	1.28	1.06	0.48	0.50	0.33	0.29	0.55
Long-Term Debt to EBITDA	0.72	0.94	1.16	1.25	1.07	0.51	0.64	0.39	0.45	0.62
Debt to NOPAT	4.29	13.05	-18.53	40.32	14.62	2.25	2.56	1.44	3.26	46.44
Net Debt to NOPAT	4.01	12.25	-16.91	36.92	13.51	2.14	2.01	1.21	2.10	40.86
Long-Term Debt to NOPAT	3.33	10.21	-15.72	35.96	13.61	2.25	2.56	1.44	3.26	46.44
Altman Z-Score	0.00	-0.18	-0.31	-0.26	-0.23	0.12	0.09	0.18	-0.02	-0.63
Noncontrolling Interest Sharing Ratio	18.69%	10.07%	10.22%	10.42%	11.04%	1.03%	1.05%	0.86%	0.87%	0.62%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.40	1.20	1.54	1.71	1.52	1.53	1.82	1.55	1.36	1.19
Quick Ratio	1.11	1.00	1.31	1.48	1.29	1.28	1.60	1.34	1.17	1.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	93	92	115	95	76	51	54	81	65	97
Operating Cash Flow to CapEx	26,534.93%	806.83%	14.28%	298.92%	720.64%	5,098.47%	0.00%	2,190.79%	482.50%	127.94%
Free Cash Flow to Firm to Interest Expense	31.15	26.97	31.56	26.32	22.67	20.16	22.95	36.60	37.61	57.73
Operating Cash Flow to Interest Expense	12.91	8.66	0.10	5.38	10.95	15.66	2.54	14.69	20.68	5.64
Operating Cash Flow Less CapEx to Interest Expense	12.86	7.58	-0.59	3.58	9.43	15.36	3.03	14.02	16.39	1.23
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.10	1.13	1.14	1.16	1.21	1.26	1.31	1.36	1.36	1.43
Accounts Receivable Turnover	6.03	5.94	5.65	5.04	5.01	5.33	5.50	5.36	5.39	5.87
Inventory Turnover	77.51	77.32	71.64	72.30	78.89	76.36	72.16	69.14	72.45	73.38
Fixed Asset Turnover	1.96	2.01	2.09	2.22	2.42	2.45	2.64	2.77	2.82	2.87
Accounts Payable Turnover	11.08	10.30	11.04	11.30	10.53	9.66	10.93	11.31	10.72	10.80
Days Sales Outstanding (DSO)	60.51	61.43	64.61	72.42	72.83	68.48	66.40	68.05	67.77	62.14
Days Inventory Outstanding (DIO)	4.71	4.72	5.10	5.05	4.63	4.78	5.06	5.28	5.04	4.97
Days Payable Outstanding (DPO)	32.93	35.44	33.05	32.30	34.67	37.78	33.39	32.28	34.04	33.81
Cash Conversion Cycle (CCC)	32.29	30.71	36.65	45.16	42.78	35.48	38.07	41.05	38.77	33.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	439	418	414	411	381	379	358	339	316	275
Invested Capital Turnover	1.44	1.49	1.48	1.52	1.69	1.76	1.81	1.89	2.01	2.08
Increase / (Decrease) in Invested Capital	-87	-100	-118	-89	-58	-39	-55	-72	-65	-104
Enterprise Value (EV)	524	523	434	408	394	386	454	406	428	349
Market Capitalization	341	397	301	281	295	320	390	364	394	310
Book Value per Share	$19.02	$21.89	$18.97	$19.41	$19.59	$21.71	$20.27	$20.34	$19.63	$17.16
Tangible Book Value per Share	$12.73	$15.37	$13.19	$13.56	$13.87	$15.90	$14.68	$14.85	$14.05	$11.83
Total Capital	461	435	434	431	397	389	379	347	334	280
Total Debt	125	131	142	136	103	66	79	47	50	43
Total Long-Term Debt	97	103	120	121	96	66	79	47	50	43
Net Debt	116	123	130	124	95	62	62	40	32	38
Capital Expenditures (CapEx)	0.15	3.64	2.51	6.49	5.11	0.78	-1.17	1.48	7.39	7.42
Debt-free, Cash-free Net Working Capital (DFCFNWC)	67	46	65	76	65	58	59	46	21	13
Debt-free Net Working Capital (DFNWC)	75	54	77	88	72	61	76	54	39	18
Net Working Capital (NWC)	47	25	55	73	65	61	76	54	39	18
Net Nonoperating Expense (NNE)	0.51	3.50	3.58	1.85	9.25	-9.84	3.95	1.22	5.32	8.40
Net Nonoperating Obligations (NNO)	103	114	121	116	87	56	58	40	32	38
Total Depreciation and Amortization (D&A)	23	21	22	21	17	16	17	17	17	17
Debt-free, Cash-free Net Working Capital to Revenue	9.59%	6.57%	9.23%	11.03%	9.34%	8.23%	8.47%	6.50%	2.96%	1.85%
Debt-free Net Working Capital to Revenue	10.79%	7.71%	11.00%	12.68%	10.47%	8.71%	10.87%	7.54%	5.51%	2.61%
Net Working Capital to Revenue	6.77%	3.63%	7.93%	10.56%	9.44%	8.71%	10.87%	7.54%	5.51%	2.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.32	($0.93)	($0.42)	$0.30	$0.61	$1.53	($0.35)	$0.57	($0.36)	($1.05)
Adjusted Weighted Average Basic Shares Outstanding	13.93M	14.00M	15.16M	14.97M	14.81M	14.91M	14.66M	14.52M	14.29M	14.29M
Adjusted Diluted Earnings per Share	$0.32	($0.93)	($0.42)	$0.30	$0.61	$1.52	($0.35)	$0.56	($0.36)	($1.04)
Adjusted Weighted Average Diluted Shares Outstanding	14.06M	14.00M	15.16M	15M	14.89M	15.01M	14.66M	14.60M	14.29M	14.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.93)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	13.71M	15.22M	15.05M	14.84M	14.75M	14.67M	14.62M	14.37M	13.77M	13.65M
Normalized Net Operating Profit after Tax (NOPAT)	6.77	-8.57	-2.73	6.02	11	-0.01	-0.02	8.77	0.15	-4.35
Normalized NOPAT Margin	3.68%	-5.29%	-1.63%	3.36%	6.12%	-0.01%	-0.01%	4.65%	0.09%	-2.88%
Pre Tax Income Margin	5.42%	-9.10%	-3.03%	3.94%	4.36%	17.79%	-2.19%	5.97%	-0.81%	-8.04%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.32	-3.35	-0.40	2.94	3.37	12.89	-0.56	6.09	0.14	-6.23
NOPAT to Interest Expense	2.26	-2.52	-0.75	1.67	5.49	5.02	-0.53	3.95	0.02	-4.17
EBIT Less CapEx to Interest Expense	4.27	-4.42	-1.08	1.14	1.85	12.58	-0.07	5.42	-4.14	-10.63
NOPAT Less CapEx to Interest Expense	2.21	-3.60	-1.43	-0.13	3.97	4.71	-0.03	3.28	-4.27	-8.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	-74.74%	24.97%	36.08%	43.29%	74.68%	-78.26%
Augmented Payout Ratio	62.86%	224.47%	-951.35%	-272.10%	-259.48%	64.10%	71.98%	82.85%	209.37%	-238.96%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Civeo's latest quarterly results, focusing on the last four years of data across cash flow, income, and balance sheets. The items below are organized to highlight positives first, then neutral factors, then potential negatives.

Operating cash flow remained positive and notable in the 2024 quarters, with net cash from continuing operating activities about $32.4m in Q2 2024 and $35.7m in Q3 2024, signaling ongoing liquidity.
Free cash flow generation was solid in mid-2024, with estimated free cash flow around $27m–$28m in Q2–Q3 after capex, illustrating cash generation after investment needs.
Cash balance improved into the mid-teens by Q3 2024 (about $17.9m), up from around $7.4m in Q2 2024, indicating a modest improvement in near-term liquidity.
The balance sheet shows a sizable asset base and equity cushion, with total assets typically in the $477m–$513m range and total equity around $284m–$299m, providing a buffer relative to liabilities.

Debt issuance and repayments in 2024 illustrate active balance-sheet management, with debt issuances and repayments offsetting each other across quarters, leaving net financing effects relatively modest.
Non-cash items such as depreciation (~$16–$17m per quarter) and other adjustments remained stable, helping align net income with cash flow generation.
Cash and liquidity are modest but generally positive, with cash balances fluctuating in the high single digits to mid-teens across quarters, depending on financing activity.

Net income was negative in most 2024 quarters (for example, Q4 2024 Consolidated Net Income / Loss of about -$15.4m; Q3 2024 about -$5.3m), highlighting profitability challenges.
Earnings per share were negative in Q4 2024 (basic EPS about -$1.05) and showed volatility across 2024, signaling earnings deterioration for common shareholders.
Net change in cash & equivalents for Q4 2024 was negative (about -$12.7m), indicating that investing and financing outflows outweighed operating cash flow in that quarter.
Financing activities were negative in most 2024 quarters, reflecting debt repayments and dividends outpacing new issuances, which pressure near-term liquidity and leverage dynamics.

Overall takeaway: CVEO demonstrates a pattern of positive operating cash flow and meaningful free cash flow in parts of 2024, but profitability remains a challenge with recurring net losses and negative EPS in several quarters. The balance sheet shows solid asset and equity levels, yet financing activity has been a source of ongoing cash outflows, and near-term liquidity has been modest. Investors will want to watch how the company sustains cash generation, manages debt, and stabilizes earnings in upcoming quarters.

05/18/26 05:56 PM ETAI Generated. May Contain Errors.

Civeo Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Civeo's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

Civeo's net income appears to be on a downward trend, with a most recent value of -$18.43 million in 2024, falling from $6.33 million in 2022. The previous period was $29.73 million in 2023. Check out Civeo's forecast to explore projected trends and price targets.

Civeo's total operating income in 2024 was $1.33 million, based on the following breakdown:

Total Gross Profit: $149.46 million
Total Operating Expenses: $148.12 million

Over the last 2 years, Civeo's total revenue changed from $697.05 million in 2022 to $682.12 million in 2024, a change of -2.1%.

Civeo's total liabilities were at $168.07 million at the end of 2024, a 25.3% decrease from 2023, and a 36.0% decrease since 2022.

In the past 2 years, Civeo's cash and equivalents has ranged from $3.32 million in 2023 to $7.95 million in 2022, and is currently $5.20 million as of their latest financial filing in 2024.

Over the last 2 years, Civeo's book value per share changed from 21.89 in 2022 to 17.16 in 2024, a change of -21.6%.

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Financial statements for NYSE:CVEO last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Civeo (CVEO) Financials

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Civeo Financials - Frequently Asked Questions

When does Civeo's financial year end?

How has Civeo's net income changed over the last 2 years?

What is Civeo's operating income?

How has Civeo's revenue changed over the last 2 years?

How much debt does Civeo have?

How much cash does Civeo have?

How has Civeo's book value per share changed over the last 2 years?

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