Latest Ratios: P/E Ratio -21.3x · EV/EBITDA 8.0x · ROE -9.8%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $428M | $289M | $325M | $343M | $435M | $273M | $196M | $215M | $225M | $350M | $235M |
| Enterprise Value | $607M | $469M | $375M | $419M | $571M | $459M | $463M | $590M | $589M | $612M | $587M |
| P/E Ratio → | -21.27 | — | — | 11.37 | — | — | — | — | — | — | — |
| P/S Ratio | 0.67 | 0.45 | 0.48 | 0.49 | 0.62 | 0.46 | 0.37 | 0.41 | 0.48 | 0.92 | 0.59 |
| P/B Ratio | 2.45 | 1.66 | 1.37 | 1.06 | 1.43 | 0.75 | 0.52 | 0.44 | 0.42 | 0.74 | 0.49 |
| P/FCF | 199.20 | 134.71 | 5.66 | 5.28 | 6.56 | 3.74 | 1.83 | 4.82 | 6.03 | 7.68 | 5.56 |
| P/OCF | 19.15 | 12.95 | 3.89 | 3.55 | 4.74 | 3.08 | 1.67 | 2.89 | 4.13 | 6.17 | 3.79 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.73 | 0.55 | 0.60 | 0.82 | 0.77 | 0.87 | 1.12 | 1.26 | 1.60 | 1.48 |
| EV / EBITDA | 8.02 | 6.19 | 5.41 | 3.65 | 5.48 | 5.15 | — | 7.90 | 15.58 | 21.51 | 16.51 |
| EV / EBIT | 194.13 | 94.47 | 184.26 | 7.82 | 25.72 | 24.39 | — | — | — | — | — |
| EV / FCF | — | 218.33 | 6.54 | 6.45 | 8.61 | 6.30 | 4.32 | 13.21 | 15.79 | 13.42 | 13.87 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.3% | 12.3% | 21.9% | 24.3% | 25.8% | 26.6% | 27.9% | 30.5% | 29.2% | 32.7% | 34.6% |
| Operating Margin | 0.5% | 0.5% | 0.2% | 5.6% | 2.4% | 1.0% | -27.8% | -9.3% | -18.9% | -25.6% | -24.1% |
| Net Profit Margin | -3.1% | -3.1% | -2.5% | 4.3% | 0.6% | 0.2% | -25.3% | -11.1% | -17.6% | -27.7% | -24.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -9.8% | -9.8% | -6.1% | 9.6% | 1.2% | 0.4% | -31.0% | -11.4% | -16.3% | -22.2% | -18.5% |
| ROA | -4.5% | -4.5% | -3.6% | 5.4% | 0.6% | 0.2% | -15.7% | -5.9% | -8.9% | -12.0% | -9.7% |
| ROIC | 0.7% | 0.7% | 0.3% | 7.1% | 2.6% | 0.8% | -14.6% | -4.2% | -8.1% | -9.4% | -8.0% |
| ROCE | 0.9% | 0.9% | 0.4% | 9.1% | 3.5% | 1.0% | -19.8% | -5.5% | -10.4% | -12.0% | -10.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.11 | 1.11 | 0.24 | 0.25 | 0.47 | 0.53 | 0.73 | 0.77 | 0.70 | 0.62 | 0.74 |
| Debt / EBITDA | 2.56 | 2.56 | 0.80 | 0.69 | 1.38 | 2.16 | — | 5.06 | 9.96 | 10.35 | 9.94 |
| Net Debt / Equity | — | 1.03 | 0.21 | 0.23 | 0.45 | 0.51 | 0.71 | 0.76 | 0.68 | 0.55 | 0.74 |
| Net Debt / EBITDA | 2.37 | 2.37 | 0.73 | 0.66 | 1.30 | 2.09 | — | 5.02 | 9.63 | 9.20 | 9.89 |
| Debt / FCF | — | 83.63 | 0.88 | 1.17 | 2.05 | 2.56 | 2.49 | 8.39 | 9.76 | 5.74 | 8.30 |
| Interest Coverage | 0.43 | 0.43 | 0.26 | 4.06 | 1.94 | 1.45 | -7.59 | -1.52 | -3.31 | -4.54 | -4.11 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.54 | 1.54 | 1.19 | 1.53 | 1.20 | 1.15 | 1.02 | 1.19 | 1.24 | 1.75 | 1.37 |
| Quick Ratio | 1.47 | 1.47 | 1.11 | 1.47 | 1.14 | 1.10 | 0.97 | 1.14 | 1.19 | 1.65 | 1.31 |
| Cash Ratio | 0.17 | 0.17 | 0.06 | 0.03 | 0.06 | 0.05 | 0.05 | 0.03 | 0.14 | 0.43 | 0.03 |
| Asset Turnover | — | 1.34 | 1.68 | 1.28 | 1.23 | 0.88 | 0.72 | 0.54 | 0.47 | 0.45 | 0.44 |
| Inventory Turnover | 90.12 | 90.12 | 70.67 | 75.95 | 74.86 | 67.48 | 61.82 | 62.42 | 76.60 | 35.50 | 83.44 |
| Days Sales Outstanding | — | 51.69 | 47.64 | 74.59 | 62.71 | 70.52 | 61.86 | 68.84 | 54.92 | 63.80 | 51.73 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 1.2% | 4.4% | 2.2% | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | 24.6% | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 8.8% | — | — | — | — | — | — | — |
| FCF Yield | 0.5% | 0.7% | 17.7% | 18.9% | 15.2% | 26.7% | 54.6% | 20.7% | 16.6% | 13.0% | 18.0% |
| Buyback Yield | 12.5% | 18.5% | 9.1% | 3.4% | 10.3% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 13.3% | 19.7% | 13.6% | 5.6% | 10.3% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $13M | $14M | $15M | $14M | $14M | $14M | $14M | $13M | $11M | $9M |
Commodity-linked occupancy volatility
Based on reported figures, Civeo's negative TTM P/E of -21.27 and P/S of 0.67 suggest the market is pricing the company as a deep-value or distressed asset, heavily discounting its future earnings potential relative to more diversified industrial service peers like McGrath RentCorp.
The absence of a forward P/E ratio indicates significant analyst skepticism regarding the company's ability to return to consistent profitability in the near term. Investors should monitor whether the current EV/EBITDA multiple of 8.02 represents a genuine floor or if further earnings contraction will force a re-rating of the stock.
According to quarterly data, Civeo's ROIC has struggled to maintain positive territory, frequently dipping into negative values such as the -1.4% reported in 2025Q1, which highlights the company's inability to generate adequate returns on its significant investment in remote lodge infrastructure.
The decay in ROIC appears structural, driven by the high depreciation burden of physical assets that are not currently achieving sufficient occupancy levels. This trend suggests that capital allocation decisions, particularly regarding lodge maintenance and expansion, may be failing to create long-term shareholder value.
As reported in financial statements, Civeo's asset turnover has remained stagnant near 0.35, while the cash conversion cycle has shown erratic swings, peaking at 46 days in 2023Q4, indicating that the company faces persistent challenges in optimizing its working capital efficiency.
The reliance on project-based revenue creates lumpy cash inflows, making it difficult to maintain a lean working capital profile. Investors should monitor the DSO trends, as any extension in collection periods could further strain the company's already thin liquidity buffers.
Based on recent filings, Civeo's debt-to-equity ratio has climbed from 0.25 in 2023Q4 to 1.41 by 2026Q1, signaling a rapid shift toward a more leveraged capital structure as the company attempts to navigate persistent net losses and cyclical demand headwinds.
The increase in debt-to-EBITDA to 34.11 in 2026Q1 suggests that debt service capacity is becoming increasingly precarious. This leverage profile warrants further investigation, as it limits the company's financial flexibility to fund future growth or weather prolonged downturns in the mining and energy sectors.
The P/E ratio is frequently misapplied to Civeo, as it fails to account for the massive non-cash depreciation charges inherent in the workforce housing business model, which often mask the company's underlying operational cash flow generation.
Analysts should instead prioritize EV/EBITDA or FCF-based metrics to better assess the company's ability to cover its fixed costs and debt obligations. Relying on P/E in this context obscures the true earning power of the lodges and may lead to an inaccurate assessment of the company's valuation.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying CVEO stock.
Civeo Corporation's current P/E ratio is -21.3x. The historical average is 11.4x.
Civeo Corporation's current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.8x.
Civeo Corporation's return on equity (ROE) is -9.8%. The historical average is -7.8%.
Based on historical data, Civeo Corporation is trading at a P/E of -21.3x. Compare with industry peers and growth rates for a complete picture.
Civeo Corporation's current dividend yield is 0.80%.
Civeo Corporation has 12.3% gross margin and 0.5% operating margin.
Civeo Corporation's Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.