Covista Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Covista Inc. 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

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	1,810	960	1,014	866	899	1,382	1,451	1,585	1,788	1,954
Cost of revenue	638	462	472	457	458	660	648	699	771	834
Gross profit	1,172	499	542	409	441	722	802	886	1,017	1,120
Selling, general and administrative	369	328	359	280	292	566	586	633	672	731
Operating income			156	110	110	76.7	168	217	342	383
Interest expense	9.14	11.6	19.9	19.5	41.4	129	63.1	63.7	52.3	45.4
Interest income					4.09	4.38	10.7	9.18	8.22	5.46
Other non-operating income		-11	-16.1	94.9	6.73	1.11	6.97	10.5	9.29	7.18
Pre-tax income	131	199	170	205	75.8	-51.5	112	164	299	345
Income tax	9.59	88.1	32.9	-14.9	12.3	-15.5	10.3	26.2	65.8	77.7
Income from continuing operations	120	68.4	107	220	63.4	-36	102	138	233	267
Net income to minority interests	1	0.53	0.41	-0.44	-0.43
Net income	122	33.8	95.2	-85.3	70	311	93.4	137	237	252
EBITDA			190	142	144	121	210	257	382	427
EPS, basic	1.76	0.50	1.49	-1.45	1.36	6.43	2.08	3.47	6.39	7.18
EPS, diluted	1.74	0.49	1.46	-1.44	1.36	6.43	2.05	3.39	6.18	7.04
Shares, basic (weighted)	69.6	67.3	64.1	58.8	51.3	48.4	44.8	39.4	37.1	35
Shares, diluted (weighted)	70.1	68.2	65	59.3	51.6	48.4	45.6	40.3	38.3	35.7
Dividend per share	0.16	0.00	0.00

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	240	431	204	501	476	347	272	219	200	406
Short-term investments	4.01	4.26	8.68	8.97
Receivables	149	147	83.6	87	41	79	100	124	143	167
Other current assets	36.5	58.9	29.3	105	128	128	102	70.1	68.8	75.1
Total current assets	471	688	505	693	1,515	557	480	418	416	652
Property, plant and equipment	489	389	283	286	284	290	245	249	256	303
Lease right-of-use assets			0	175	167	178	175	177	191	204
Goodwill	829	814	687	686	310	961	961	961	961	961
Intangible assets	392	363	298	288	138	874	812	777	765	754
Other non-current assets	36.8	39.3	52.1	78.9	86	119	80.6	103	129	138
Total assets	2,315	2,345	2,243	2,258	3,085	3,030	2,811	2,741	2,752	3,013
Accounts payable	43.1	47.5	53.4	46.5	42.4	57.1	81.8	103	105	125
Accrued liabilities	90.1	80.8	76.5	104	126	98.1	106	97	77.3	94.4
Deferred revenue						150	154	185	214	259
Short-term debt	0	3	3	3	3	0			0	5.1
Total current liabilities	377	366	312	346	409	424	431	488	508	597
Long-term debt	125	290	398	286	1,068	839	695	649	553	658
Lease liabilities			0	176	167	177	163	168	186	208
Other non-current liabilities	102	131	83.5	82.3	78.7	73.7	37.4	38.7	40.1	42.3
Total liabilities	640	817	842	915	1,782	1,539	1,353	1,372	1,319	1,567
Total debt	125	293	401	289	1,071	839	695	649	553	663
Paid-in capital	416	455	486	504	520	522	569	612	664	707
Retained earnings	1,881	1,917	2,013	1,928	2,005	2,310	2,404	2,541	2,778	3,029
Treasury stock	-570	-711	-971	-1,113	-1,217	-1,339	-1,514	-1,782	-2,007	-2,288
Other comprehensive income	-59.1	-142	-137	-9.06	-7.37	-2.23	-2.23	-2.23	-2.23	-2.23
Shareholders' equity	1,669	1,519	1,392	1,310	1,294	1,491	1,457	1,369	1,434	1,446
Minority interests	6.29	9.11	9.54	2.85	1.79	0
Total equity	1,675	1,528	1,401	1,313	1,295	1,491	1,457	1,369	1,434	1,446
Total liabilities and equity	2,315	2,345	2,243	2,229	3,085	3,030	2,811	2,741	2,752	3,013
Shares outstanding	68.3	65.6	60.6	56.8	49.3	45.2	42.3	37.7	36	34

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	123	34.3	95.6	-85.8	69.6	311	93.4	137	237	252
Depreciation and amortization	45.8	33	33.8	32.3	33.9	44.6	41.4	39.7	40.7	43.9
Stock-based compensation	16.6	14.5	13.2	13.9	12.8	22.6	14.3	25.9	41.6	41.2
Deferred income tax	8.49	14.6	13	-5.29	0.22	-13.7	-4.92	11.1	18.4	68.4
Change in receivables	-41.8	-13.9	-21.1	-11.4	15.4	-41.4	-56.3	-76.4	-80.8	-89.3
Change in payables	3.85	10.3	8.1	-9.42	5.67	-15.7	24.7	18.3	0.14	6.19
Cash from operations	231	239	205	108	192	10.6	192	296	338	470
Capital expenditures	-42.5	-46.6	-57.6	-39.6	-39.9	-31.1	-26	-48.9	-50.3	-77.7
Acquisitions	-331	-3.07	-118	0	0	-1,488	0	0
Purchases of investments	-0.09	-0.16	-6.32	-3.02	-10.7	-3.62	-1.51	-0.69	-2.05	-4.26
Sales and maturities of investments	0	0	1.84	2.83	2.72	3.45	7.64	1.73	3.12	3.26
Cash from investing	-380	-71.5	-214	383	-56.7	-552	23.7	-47.9	-41.9	-83.7
Debt issued			135	225	800	850	0	1.9	9.87	1,007
Debt repaid			-28	-338	-3	-1,080	-151	-51.9	-110	-895
Stock issued	27.7	23.8	17	3.76	1.46	8.88	2.63	17.1	10	0.13
Share buybacks	-48.5	-137	-253	-137	-100	-120	-123	-262	-213	-240
Dividends paid	-11.4	0	0
Cash from financing	85.8	37.2	-138	-256	676	-424	-289	-302	-316	-180
Exchange rate effect	-1.36	-11.6	2.57
Net change in cash	-64.3	193	-144	201	813	-966	-72.9	-53.9	-20	207
Free cash flow	188	193	147	68.1	152	-20.5	166	247	288	393
Interest paid	7.33	11.5	20.4	20.2	14.4	107	53.1	57.8	46.6	44.8
Income taxes paid	14.9	8.37	3.23	12.4	26.4	94.4	12.3	31.5	32.8	13.6

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $120.75 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	57.3%	Gross profit / revenue.
Operating margin	19.6%	Operating income / revenue.
EBITDA margin	21.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	17.7%	Pre-tax income / revenue.
Net margin	12.9%	Net income / revenue.
FCF margin	20.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	24.1%	Cash from operations / revenue.
Effective tax rate	22.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	17.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	8.7%	Net income / average total assets.
Return on invested capital (ROIC)	17.0%	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%.
SG&A / revenue	37.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	2.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.0%	Capital expenditures / revenue.
D&A / revenue	2.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	11.8%	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	20.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	12.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	31.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	28.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	11.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	26.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	24.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	6.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	39.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	29.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	13.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	50.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	38.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	39.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	34.8%	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	19.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	36.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	33.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	20.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	0.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-0.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	9.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.3%	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	-0.5%	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	-6.8%	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	-7.8%	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	-7.1%	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	1.09x	Current assets / current liabilities.
Quick ratio	0.96x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.68x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.46x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	22.0%	Total debt / total assets.
Liabilities / assets	52.0%	Total liabilities / total assets.
Net debt	$256.5M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.60x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	8.44x	Operating income / interest expense.
Working capital	$55.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	56.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$269.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.68x	Revenue / average total assets.
Fixed asset turnover	6.99x	Revenue / average property, plant and equipment.
Receivables turnover	12.6x	Revenue / average receivables.
Days sales outstanding	29 days	365 x average receivables / revenue.
Days payables	50 days	365 x average accounts payable / cost of revenue.
FCF conversion	156.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	16.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.04	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.
EPS, basic	$7.18	Net income per basic share, as reported (split-adjusted).
Revenue per share	$54.71	Revenue / diluted weighted shares.
FCF per share	$11.00	Free cash flow / diluted weighted shares.
Operating cash flow per share	$13.17	Cash from operations / diluted weighted shares.
Book value per share	$42.49	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$7.91	Tangible book value / shares outstanding.
Cash per share	$11.94	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	61.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.11B	Share price x shares outstanding.
Enterprise value	$4.37B	Market cap + total debt - cash - short-term investments.
P/E	16.3x	Market cap / net income. Only when net income is positive.
P/S	2.10x	Market cap / revenue.
P/B	2.84x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	10.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.74x	Market cap / cash from operations, when positive.
EV/Sales	2.23x	Enterprise value / revenue.
EV/EBIT	11.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	11.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.6%	Free cash flow / market cap.
Earnings yield	6.1%	Net income / market cap (the inverse of P/E).
Shareholder yield	5.8%	(Dividends paid + share buybacks) / market cap.
PEG	0.32x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Covista Inc.'s revenue in fiscal 2026?

Covista Inc. reported revenue of $1.95B for fiscal 2026, 9.3% higher than the year before.

Was Covista Inc. profitable in fiscal 2026?

Yes. Net income was $251.6M, a net margin of 12.9%.

How much free cash flow did Covista Inc. generate in fiscal 2026?

Cash from operations of $470.4M minus capital expenditures of $77.7M left free cash flow of $392.7M.

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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