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Covetrus Inc (CVET) Stock Fundamental Analysis

NASDAQ:CVET - Nasdaq - US22304C1009 - Common Stock - Currency: USD

20.99  +0.06 (+0.29%)

After market: 20.99 0 (0%)

Fundamental Rating

2

Taking everything into account, CVET scores 2 out of 10 in our fundamental rating. CVET was compared to 108 industry peers in the Health Care Providers & Services industry. CVET has a bad profitability rating. Also its financial health evaluation is rather negative. CVET is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

CVET had positive earnings in the past year.
In the past year CVET had a positive cash flow from operations.
CVET Yearly Net Income VS EBIT VS OCF VS FCFCVET Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 0 -200M -400M -600M -800M

1.2 Ratios

Industry RankSector Rank
ROA -0.38%
ROE N/A
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
CVET Yearly ROA, ROE, ROICCVET Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 0 -20 -40 -60

1.3 Margins

Industry RankSector Rank
OM -0.02%
PM (TTM) -0.28%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
CVET Yearly Profit, Operating, Gross MarginsCVET Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 0 10 -10 -20

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2

2. Health

2.1 Basic Checks

CVET does not have a ROIC to compare to the WACC, probably because it is not profitable.
CVET has more shares outstanding than it did 1 year ago.
Compared to 1 year ago, CVET has a worse debt to assets ratio.
CVET Yearly Shares OutstandingCVET Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 20M 40M 60M 80M 100M
CVET Yearly Total Debt VS Total AssetsCVET Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 1B 2B 3B

2.2 Solvency

An Altman-Z score of 2.08 indicates that CVET is not a great score, but indicates only limited risk for bankruptcy at the moment.
CVET has a debt to FCF ratio of 524.50. This is a negative value and a sign of low solvency as CVET would need 524.50 years to pay back of all of its debts.
A Debt/Equity ratio of 0.65 indicates that CVET is somewhat dependend on debt financing.
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 524.5
Altman-Z 2.08
ROIC/WACCN/A
WACC7.62%
CVET Yearly LT Debt VS Equity VS FCFCVET Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 0 500M 1B 1.5B

2.3 Liquidity

CVET has a Current Ratio of 1.88. This is a normal value and indicates that CVET is financially healthy and should not expect problems in meeting its short term obligations.
A Quick Ratio of 1.08 indicates that CVET should not have too much problems paying its short term obligations.
Industry RankSector Rank
Current Ratio 1.88
Quick Ratio 1.08
CVET Yearly Current Assets VS Current LiabilitesCVET Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 500M 1B

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5

3. Growth

3.1 Past

CVET shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 4.89%.
The Earnings Per Share has been growing by 25.19% on average over the past years. This is a very strong growth
CVET shows a small growth in Revenue. In the last year, the Revenue has grown by 2.42%.
CVET shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.41% yearly.
EPS 1Y (TTM)4.89%
EPS 3Y25.19%
EPS 5YN/A
EPS Q2Q%-3.85%
Revenue 1Y (TTM)2.42%
Revenue growth 3Y6.59%
Revenue growth 5Y6.41%
Sales Q2Q%2.35%

3.2 Future

CVET is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.74% yearly.
CVET is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.42% yearly.
EPS Next Y16.83%
EPS Next 2Y16.41%
EPS Next 3Y13.76%
EPS Next 5Y12.74%
Revenue Next Year4.28%
Revenue Next 2Y5.17%
Revenue Next 3Y5.57%
Revenue Next 5Y5.42%

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
CVET Yearly Revenue VS EstimatesCVET Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2B 4B 6B
CVET Yearly EPS VS EstimatesCVET Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

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2

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 21.20 indicates a rather expensive valuation of CVET.
The average S&P500 Price/Earnings ratio is at 29.62. CVET is valued slightly cheaper when compared to this.
CVET is valuated correctly with a Price/Forward Earnings ratio of 16.20.
The average S&P500 Price/Forward Earnings ratio is at 22.70. CVET is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 21.2
Fwd PE 16.2
CVET Price Earnings VS Forward Price EarningsCVET Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Industry RankSector Rank
P/FCF 1470.59
EV/EBITDA 23.66
CVET Per share dataCVET EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

CVET's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
CVET's earnings are expected to grow with 13.76% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.26
PEG (5Y)N/A
EPS Next 2Y16.41%
EPS Next 3Y13.76%

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0

5. Dividend

5.1 Amount

CVET does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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Covetrus Inc

NASDAQ:CVET (10/12/2022, 8:10:14 PM)

After market: 20.99 0 (0%)

20.99

+0.06 (+0.29%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)08-04 2022-08-04/bmo
Earnings (Next)11-03 2022-11-03/amc
Inst Owners0%
Inst Owner Change0%
Ins Owners2.47%
Ins Owner Change0%
Market Cap2.94B
Analysts50.91
Price Target21.76 (3.67%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)3.3%
Min EPS beat(2)-3.06%
Max EPS beat(2)9.66%
EPS beat(4)2
Avg EPS beat(4)1.75%
Min EPS beat(4)-3.06%
Max EPS beat(4)9.66%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-1.74%
Min Revenue beat(2)-2.09%
Max Revenue beat(2)-1.39%
Revenue beat(4)0
Avg Revenue beat(4)-2.2%
Min Revenue beat(4)-3.13%
Max Revenue beat(4)-1.39%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 21.2
Fwd PE 16.2
P/S 0.63
P/FCF 1470.59
P/OCF 45.96
P/B 1.95
P/tB N/A
EV/EBITDA 23.66
EPS(TTM)0.99
EY4.72%
EPS(NY)1.3
Fwd EY6.17%
FCF(TTM)0.01
FCFY0.07%
OCF(TTM)0.46
OCFY2.18%
SpS33.18
BVpS10.74
TBVpS-1.02
PEG (NY)1.26
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.38%
ROE N/A
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM -0.02%
PM (TTM) -0.28%
GM N/A
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover1.37
Health
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 524.5
Debt/EBITDA N/A
Cap/Depr 37.35%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality -15.38%
Current Ratio 1.88
Quick Ratio 1.08
Altman-Z 2.08
F-Score6
WACC7.62%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)4.89%
EPS 3Y25.19%
EPS 5YN/A
EPS Q2Q%-3.85%
EPS Next Y16.83%
EPS Next 2Y16.41%
EPS Next 3Y13.76%
EPS Next 5Y12.74%
Revenue 1Y (TTM)2.42%
Revenue growth 3Y6.59%
Revenue growth 5Y6.41%
Sales Q2Q%2.35%
Revenue Next Year4.28%
Revenue Next 2Y5.17%
Revenue Next 3Y5.57%
Revenue Next 5Y5.42%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-98.21%
FCF growth 3Y-32.39%
FCF growth 5Y-14.53%
OCF growth 1Y-58.44%
OCF growth 3Y-13.56%
OCF growth 5Y-0.54%