Claritev Corp financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Claritev Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,041	983	938	1,118	1,080	962	931	965
Cost of revenue	149	150	319	175	204	235	239	253
Gross profit	891	833	619	942	876	726	691	712
General and administrative	77.6	75.2	356	151	167	143	151	222
Operating income	428	368	-132	386	-363	162	-1,390	28.8
Interest expense	383	376	336	267	303	333	326	392
Interest income	0.05	0.2	0.29	0.03	3.5	8.23	3.13	1.56
Pre-tax income	10.5	-547	136	135	-561	-107	-1,771	-373
Income tax	0.8	-26.3	33.4	33.4	12.2	-15.4	-125	-88.8
Net income to minority interests						0	0	0
Net income	36.2	9.71	-521	102	-573	-91.7	-1,646	-284
EBITDA	480	424	-71.2	451	-294	239	-1,302	130
EPS, basic	3.66	0.81	-45.11	6.50	-36.58	-5.69	-101.92	-17.30
EPS, diluted	3.66	0.81	-45.11	6.50	-36.58	-5.69	-101.92	-17.30
Shares, basic (weighted)	10.2	10.2	11.6	16	15.7	16.1	16.1	16.4
Shares, diluted (weighted)	10.2	10.2	11.6	16	15.7	16.1	16.1	16.4

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	5.01	21.8	127	185	334	71.5	16.8	16.8
Receivables		77.1	63.2	99.9	78.9	76.6	89.8	128
Other current assets		0.2	1.19	1	3.68	2.55	7	14.3
Total current assets		116	209	319	447	194	176	224
Property, plant and equipment		178	188	213	233	267	293	326
Lease right-of-use assets		30	31.3	30.1	24.2	19.7	16.1	14
Goodwill	4,142	4,142	4,257	4,363	3,705	3,829	2,403	2,406
Intangible assets		3,887	3,584	3,285	2,940	2,633	2,226	1,885
Other non-current assets		8.15	14.2	9.7	21.9	21.8	37.1	33.3
Total assets		8,360	8,284	8,220	7,371	6,965	5,151	4,888
Accounts payable		9.57	15.3	13	13.3	19.6	86.3	60.5
Accrued liabilities							20.6	36.3
Short-term debt			0	13.3	13.3	13.3	13.3	14.7
Total current liabilities		85.8	112	142	176	167	214	261
Long-term debt		5,397	4,578	4,879	4,742	4,533	4,510	4,560
Lease liabilities		23.1	27.5	26.7	20.9	17.1	13.9	16.2
Other non-current liabilities			0	0.14	0.03	16.8	3.6	0
Total liabilities		6,375	5,726	5,876	5,581	5,256	5,067	5,056
Total debt		5,397	0	4,972	4,822	4,600	4,566	4,612
Paid-in capital		1,348	2,530	2,312	2,330	2,349	2,373	2,398
Retained earnings		638	117	225	-348	-499	-2,145	-2,429
Treasury stock		0	-89.6	-192	-192	-128	-139	-139
Other comprehensive income					0	-11.8	-5.06	-4.17
Shareholders' equity	1,990	1,985	2,558	2,345	1,791	1,709	84	-174
Minority interests							0	6.73
Total equity	1,990	1,985	2,558	2,345	1,791	1,709	84	-167
Total liabilities and equity		8,360	8,284	8,220	7,371	6,965	5,151	4,888
Shares outstanding		10.2	16.1	15.7	15.7	16.2	16.2	16.6

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	36.2	9.71	-521	102	-573	-91.7	-1,646	-284
Depreciation and amortization	52.3	55.8	60.6	64.9	68.8	77.3	88.2	102
Stock-based compensation	4.72	-14.9	406	18	16.7	18	26.6	27.8
Deferred income tax	-112	-111	-45	-81.9	-114	-114	-198	-129
Change in receivables	3.02	5.28	14.8	-33.8	21	4.4	-13.2	-26.6
Change in payables	-40.4	20.8	29.1	7.71	34.3	5.58	67.4	-25.9
Cash from operations	292	284	377	405	372	172	108	117
Capital expenditures	-63.6	-66.4	-70.8	-84.6	-89.7	-109	-118	-130
Acquisitions	0	0	-140	0	0	0	0	-4.75
Sales and maturities of investments		0	0	5.64	0.29	0
Cash from investing	-63.6	-66.4	-211	-228	-104	-250	-118	-121
Stock issued				0	0	0.51	1.1	1.74
Share buybacks	0	0	-101	-100	0	-15.2	-10.4	0
Cash from financing	-245	-201	-61.6	-115	-116	-181	-41.3	2.36
Net change in cash	-16.4	16.8	105	61.6	152	-259	-51.8	-1.33
Free cash flow	229	218	307	320	283	62.9	-10.5	-12.3
Interest paid	374	364	312	231	290	323	315	283
Income taxes paid	117	115	3.92	132	124	100	80.1	44.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $26.42 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	72.8%	Gross profit / revenue.
Operating margin	4.2%	Operating income / revenue.
EBITDA margin	14.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-35.0%	Pre-tax income / revenue.
Net margin	-27.1%	Net income / revenue.
FCF margin	-2.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	12.9%	Cash from operations / revenue.
Return on assets (ROA)	-5.9%	Net income / average total assets.
Return on invested capital (ROIC)	0.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	2.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	15.6%	Capital expenditures / revenue.
D&A / revenue	10.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-6.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	2.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	9.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-32.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-20.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-307.0%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	-5.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-12.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-10.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	7.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.15x	Current assets / current liabilities.
Quick ratio	0.74x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.05x	(Cash + short-term investments) / current liabilities.
Debt / assets	99.4%	Total debt / total assets.
Liabilities / assets	107.3%	Total liabilities / total assets.
Net debt	$4.64B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	32.1x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	0.11x	Operating income / interest expense.
Working capital	$29.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	86.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$4.38B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.22x	Revenue / average total assets.
Fixed asset turnover	2.72x	Revenue / average property, plant and equipment.
Receivables turnover	7.60x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	72 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	121.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$16.21	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$59.91	Revenue / diluted weighted shares.
FCF per share	-$1.64	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.74	Cash from operations / diluted weighted shares.
Book value per share	-$20.32	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$256.69	Tangible book value / shares outstanding.
Cash per share	$0.59	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$447.7M	Share price x shares outstanding.
Enterprise value	$5.09B	Market cap + total debt - cash - short-term investments.
P/S	0.44x	Market cap / revenue.
P/OCF	3.41x	Market cap / cash from operations, when positive.
EV/Sales	5.00x	Enterprise value / revenue.
EV/EBIT	118x	Enterprise value / operating income, when both are positive.
EV/EBITDA	35.2x	Enterprise value / EBITDA, when both are positive.
FCF yield	-6.2%	Free cash flow / market cap.
Earnings yield	-61.5%	Net income / market cap (the inverse of P/E).

What was Claritev Corp's revenue in fiscal 2025?

Claritev Corp reported revenue of $965.4M for fiscal 2025, 3.7% higher than the year before.

Was Claritev Corp profitable in fiscal 2025?

No. It reported a net loss of $284.3M.

How much free cash flow did Claritev Corp generate in fiscal 2025?

Cash from operations of $117.3M minus capital expenditures of $129.6M left free cash flow of -$12.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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