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DCF valuation

What is Covista Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Covista Inc.'s reported free cash flow gives $355.52 per share. The share price was $116.52 on November 10, 2026, 67% below that value.

Inputs from the filings

Free cash flow, fiscal 2026
$392.7M
Average free cash flow, last 5 years
$214.5M
Cash
$222.2M
balance sheet of September 30, 2026
Debt
$500.2M
balance sheet of September 30, 2026
Diluted shares, fiscal 2026
35,715,000
Revenue growth per year, last 5 years
16.8%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$212.96+83%
Base15.0%9.0%2.5%9.0%$355.52+205%
Bull20.0%11.5%3.0%8.0%$620.97+433%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$463.45$497.11$538.24$589.66$655.77
8.0%$382.37$404.20$429.99$460.94$498.77
9.0%$323.38$338.30$355.52$375.61$399.35
10.0%$278.65$289.26$301.29$315.03$330.89
11.0%$243.65$251.43$260.12$269.90$280.99

Where the presets come from

Base: years 1 to 5 grow at Covista Inc.'s revenue growth rate over the last 5 fiscal years (16.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Covista Inc. company page