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Civeo

NYSE:CVEO
Snowflake Description

Overvalued with concerning outlook.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CVEO
NYSE
$646M
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

Civeo Corporation offers workforce accommodation, logistics, and facility management services to the natural resource industry in Canada, Australia, the United States, and internationally. The last earnings update was 81 days ago. More info.


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CVEO Share Price and Events
Price Volatility
CVEO
Industry
5yr Volatility vs Market

Value

 Is Civeo undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Civeo to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Civeo.

NYSE:CVEO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CVEO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.591 (1 + (1- 21%) (49.31%))
0.821
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.821 * 7.05%)
8.74%

Discounted Cash Flow Calculation for NYSE:CVEO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Civeo is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:CVEO DCF 1st Stage: Next 5 year cash flow forecast
2018 2019 2020 2021 2022
Levered FCF (USD, Millions) 28.80 55.80 45.76 37.98 31.90
Source Analyst x1 Analyst x1 Extrapolated @ (-18%, capped from -28.78%) Extrapolated @ (-17%, capped from -28.78%) Extrapolated @ (-16%, capped from -28.78%)
Present Value
Discounted (@ 8.74%)
26.49 47.19 35.59 27.17 20.99
Present value of next 5 years cash flows $157
NYSE:CVEO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2022 × (1 + g) ÷ (Discount Rate – g)
= $32 × (1 + 2.95%) ÷ (8.74% – 2.95%)
$568
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $568 ÷ (1 + 8.74%)5
$373
NYSE:CVEO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $157 + $373
$531
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $531 / 168
$3.17
NYSE:CVEO Discount to Share Price
Calculation Result
Value per share (USD) From above. $3.17
Current discount Discount to share price of $3.85
= -1 x ($3.85 - $3.17) / $3.17
-21.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Civeo is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Civeo's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Civeo's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CVEO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings () in USD $-1.07
NYSE:CVEO Share Price ** NYSE (2018-06-19) in USD $3.85
United States of America Commercial Services Industry PE Ratio Median Figure of 127 Publicly-Listed Commercial Services Companies 18.17x
United States of America Market PE Ratio Median Figure of 7,865 Publicly-Listed Companies 18.38x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Civeo.

NYSE:CVEO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CVEO Share Price ÷ EPS (both in USD)

= 3.85 ÷ -1.07

-3.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Civeo is loss making, we can't compare its value to the US Commercial Services industry average.
  • Civeo is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Civeo's expected growth come at a high price?
Raw Data
NYSE:CVEO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
71.3%per year
United States of America Commercial Services Industry PEG Ratio Median Figure of 92 Publicly-Listed Commercial Services Companies 1.82x
United States of America Market PEG Ratio Median Figure of 5,963 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NYSE:CVEO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= -3.6x ÷ 71.3%

-0.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Civeo is loss making, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Civeo's assets?
Raw Data
NYSE:CVEO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings () in USD $3.11
NYSE:CVEO Share Price * NYSE (2018-06-19) in USD $3.85
United States of America Commercial Services Industry PB Ratio Median Figure of 210 Publicly-Listed Commercial Services Companies 1.65x
United States of America Market PB Ratio Median Figure of 13,233 Publicly-Listed Companies 1.75x
NYSE:CVEO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CVEO Share Price ÷ Book Value per Share (both in USD)

= 3.85 ÷ 3.11

1.24x

* Primary Listing of Civeo.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Civeo is good value based on assets compared to the US Commercial Services industry average.
X
Value checks
We assess Civeo's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. Civeo has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Civeo expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
71.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Civeo expected to grow at an attractive rate?
  • Unable to compare Civeo's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Civeo's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Civeo's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CVEO Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CVEO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 71.3%
NYSE:CVEO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 17.3%
United States of America Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 10.7%
United States of America Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 11.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 6.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CVEO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CVEO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2019-12-31 558 70 -30 2
2018-12-31 510 -91 2
NYSE:CVEO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-03-31 392 50 -140
2017-12-31 382 57 -106
2017-09-30 372 59 -74
2017-06-30 379 41 -94
2017-03-31 394 61 -91
2016-12-31 397 62 -96
2016-09-30 404 60 -91
2016-06-30 406 127 -157
2016-03-31 442 149 -159
2015-12-31 518 186 -132
2015-09-30 640 258 -391
2015-06-30 777 231 -252

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Civeo is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Civeo's revenue is expected to grow by 17.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CVEO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Civeo Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CVEO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2019-12-31 -0.18 -0.05 -0.31 2.00
2018-12-31 -0.55 -0.41 -0.69 2.00
NYSE:CVEO Past Financials Data
Date (Data in USD Millions) EPS *
2018-03-31 -1.07
2017-12-31 -0.82
2017-09-30 -0.61
2017-06-30 -0.81
2017-03-31 -0.82
2016-12-31 -0.90
2016-09-30 -0.85
2016-06-30 -1.47
2016-03-31 -1.49
2015-12-31 -1.24
2015-09-30 -3.68
2015-06-30 -2.36

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Civeo will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Civeo's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Civeo has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Civeo performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Civeo's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Civeo does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Civeo's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Civeo's 1-year growth to the US Commercial Services industry average as it is not currently profitable.
Earnings and Revenue History
Civeo's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Civeo Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CVEO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-03-31 392.35 -140.18 62.81
2017-12-31 382.28 -105.71 61.13
2017-09-30 371.85 -74.08 57.38
2017-06-30 378.60 -93.88 55.16
2017-03-31 393.62 -90.55 56.39
2016-12-31 397.23 -96.39 55.30
2016-09-30 403.59 -91.04 58.70
2016-06-30 405.90 -156.59 61.75
2016-03-31 442.01 -158.57 64.87
2015-12-31 517.96 -131.76 68.44
2015-09-30 640.37 -391.49 66.97
2015-06-30 777.09 -251.66 63.50
2015-03-31 861.08 -224.23 66.79
2014-12-31 942.89 -188.12 66.25
2014-09-30 981.67 127.47 70.28
2014-06-30 983.51 134.63 74.28
2014-03-31 999.37 153.41 69.47
2013-12-31 1,041.10 181.13 69.59
2013-09-30 1,055.40 182.28 67.18
2012-12-31 1,108.88 243.72 64.21
2011-12-31 864.70 168.51 54.37

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Civeo has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Civeo has efficiently used its assets last year compared to the US Commercial Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Civeo improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Civeo's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Civeo has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Civeo's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Civeo's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Civeo is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Civeo's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Civeo's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Civeo Company Filings, last reported 2 months ago.

NYSE:CVEO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-03-31 419.59 318.39 41.98
2017-12-31 476.37 294.59 32.65
2017-09-30 525.83 324.19 54.00
2017-06-30 532.07 316.19 27.33
2017-03-31 538.73 312.00 27.14
2016-12-31 475.99 353.27 1.79
2016-09-30 514.75 373.86 2.53
2016-06-30 545.67 391.12 2.26
2016-03-31 567.56 409.96 2.97
2015-12-31 563.77 396.88 7.84
2015-09-30 569.60 416.08 12.64
2015-06-30 755.34 775.00 315.17
2015-03-31 750.92 775.00 279.80
2014-12-31 860.11 775.00 263.31
2014-09-30 1,224.40 775.00 241.81
2014-06-30 1,317.06 775.00 285.49
2014-03-31 1,665.23 322.52 264.75
2013-12-31 1,592.75 335.17 224.13
2013-09-30 1,543.33 346.61 157.16
2012-12-31 1,411.65 491.91 161.40
2011-12-31 1,123.10 491.45 32.07
  • Civeo's level of debt (75.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (30.5% vs 75.9% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we analyse their runway based on operating expenses, which includes recurring G&A and R&D. Analysis based on the most recent financials.

  • Civeo's cash level is insufficient to cover its current level of operating expenses for the upcoming year.
  • Civeo's cash level is insufficient to cover its operating expenses for the upcoming year, if it continues to reduce at historical rates of -4.9% each year.
X
Financial health checks
We assess Civeo's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Civeo has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Civeo's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Civeo dividends.
If you bought $2,000 of Civeo shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Civeo's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Civeo's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CVEO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 102 Stocks 2.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 5932 Stocks 3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 4.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CVEO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2019-12-31
2018-12-31 0.00 1.00
NYSE:CVEO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2015-07-30 0.000 0.000
2015-04-30 0.000 0.000
2015-04-08 0.520 14.412
2015-03-13 0.520 19.315
2014-07-29 0.520 7.513

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Civeo has not reported any payouts.
  • Unable to verify if Civeo's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Civeo's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Civeo has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Civeo's dividends in 3 years as they are not expected to pay a notable for United States of America.
X
Income/ dividend checks
We assess Civeo's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Civeo afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Civeo has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Civeo's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bradley Dodson, image provided by Google.
Bradley Dodson
COMPENSATION $3,046,533
AGE 44
TENURE AS CEO 4.1 years
CEO Bio

Mr. Bradley J. Dodson has been the Chief Executive Officer, President and Director of Civeo Corporation since May 2014. Mr. Dodson served as an Executive Vice President of Accommodations at Oil States International Inc. since December 9, 2013 until May 2014. He served as the President of Oil States since December 2013. He held several executive positions with Oil States International Inc. since March 2001, including Chief Financial Officer, Senior Vice President and Treasurer from April 2010 to December 2013, Chief Financial Officer, Vice President and Treasurer from May 2006 to April 2010, Vice President of Corporate Development from March 2003 to May 2006 and Director of Business Development from March 2001 to February 2003. He served as an Associate of SCF Partners. From June 1998 to March 2001, he served in several positions at L.E. Simmons & Associates, Incorporated, a private equity firm specializing in oilfield service investments. From July 1996 to June 1998, he worked in the Mergers and Acquisitions Group of Merrill Lynch & Co. He serves as a Director of Civeo Pty Ltd. Mr. Dodson holds an M.B.A. degree from the University of Texas at Austin and a B.A. degree in Economics from Duke University.

CEO Compensation
  • Bradley's compensation has increased whilst company is loss making.
  • Bradley's compensation is higher than average for a company of this size and profit level.
Management Team Tenure

Average tenure and age of the Civeo management team in years:

4.1
Average Tenure
51
Average Age
  • The tenure for the Civeo management team is about average.
Management Team

Bradley Dodson

TITLE
CEO, President & Director
COMPENSATION
$3M
AGE
44
TENURE
4.1 yrs

Frank Steininger

TITLE
Executive VP
COMPENSATION
$2M
AGE
60
TENURE
4.1 yrs

Peter McCann

TITLE
Senior Vice President of Australia
COMPENSATION
$1M
AGE
51
TENURE
4 yrs

Al Schoening

TITLE
Senior Vice President of Corporate Affairs
COMPENSATION
$946K
AGE
59
TENURE
1 yrs

Collin Gerry

TITLE
Vice President of Corporate Development

Carolyn Stone

TITLE
VP, Controller & Corporate Secretary
AGE
46
TENURE
4.1 yrs
Board of Directors Tenure

Average tenure and age of the Civeo board of directors in years:

4
Average Tenure
62
Average Age
  • The tenure for the Civeo board of directors is about average.
Board of Directors

Rick Navarre

TITLE
Chairman of the Board
COMPENSATION
$280K
AGE
57
TENURE
1.1 yrs

Bradley Dodson

TITLE
CEO, President & Director
COMPENSATION
$3M
AGE
44
TENURE
4.1 yrs

Charles Szalkowski

TITLE
Independent Director
COMPENSATION
$241K
AGE
69
TENURE
4 yrs

Martin Lambert

TITLE
Independent Director
COMPENSATION
$244K
AGE
62
TENURE
4.1 yrs

Connie Moore

TITLE
Independent Director
COMPENSATION
$245K
AGE
62
TENURE
4 yrs

Ron Blankenship

TITLE
Independent Director
COMPENSATION
$256K
AGE
68
TENURE
3.9 yrs

Tim Wall

TITLE
Independent Director
COMPENSATION
$200K
AGE
56
TENURE
1.3 yrs

Ronald Gilbertson

TITLE
Director
AGE
66
TENURE
0.2 yrs
Recent Insider Trading
  • No 3 month insider trading information.
Who owns this company?
X
Management checks
We assess Civeo's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of market cap)? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Civeo has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Interested In Civeo Corporation (NYSE:CVEO)? Here's How It Performed Recently

Examining Civeo Corporation's (NYSE:CVEO) past track record of performance is a useful exercise for investors. … Below, I will assess CVEO's latest performance announced on 31 March 2018 and weight these figures against its longer term trend and industry movements. … Was CVEO weak performance lately part of a long-term decline.

Simply Wall St -

Civeo Corporation (NYSE:CVEO) Investors Are Paying Above The Intrinsic Value

Today I will be providing a simple run through of a valuation method used to estimate the attractiveness of Civeo Corporation (NYSE:CVEO) as an investment opportunity by taking the expected future cash flows and discounting them to their present value. … 5-year cash flow estimate 2018 2019 2020 2021 2022 Levered FCF ($, Millions) $28.80 $55.80 $45.76 $37.98 $31.90 Source Analyst x1 Analyst x1 Extrapolated @ (-18%, capped from -28.78%) Extrapolated @ (-17%, capped from -28.78%) Extrapolated @ (-16%, capped from -28.78%) Present Value Discounted @ 9.5% $26.30 $46.54 $34.85 $26.42 $20.26 Present Value of 5-year Cash Flow (PVCF)= $154 After calculating the present value of future cash flows in the intial 5-year period we need to calculate the Terminal Value, which accounts for all the future cash flows beyond the first stage. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = $32 × (1 + 2.5%) ÷ (9.5% – 2.5%) = $465 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $465 / ( 1 + 9.5%)5 = $295 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is $450.

Simply Wall St -

Should You Buy Civeo Corporation (NYSE:CVEO) At $3.27?

This means that the opportunity to buy Civeo at a good price has disappeared! … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. … CVEO’s optimistic future growth appears to have been factored into the current share price, with shares trading above its fair value.

Simply Wall St -

What Investors Should Know About Civeo Corporation's (NYSE:CVEO) Financial Strength

How does CVEO’s operating cash flow stack up against its debt? … On top of this, CVEO has generated cash from operations of US$56.83M in the last twelve months, resulting in an operating cash to total debt ratio of 19.29%, signalling that CVEO’s operating cash is not sufficient to cover its debt. … Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate.Next Steps: CVEO’s debt and cash flow levels indicate room for improvement.

Simply Wall St -

How Do Analysts See Civeo Corporation (NYSE:CVEO) Performing In The Years Ahead?

The most recent earnings announcement Civeo Corporation's (NYSE:CVEO) released in December 2017 confirmed that losses became smaller relative to the prrior year's level - great news for investors Below is a brief commentary on my key takeaways on how market analysts predict Civeo's earnings growth trajectory over the next few years and whether the future looks brighter. … View our latest analysis for Civeo Market analysts' consensus outlook for this coming year seems optimistic, with earnings becoming less negative, generating -US$55.87M in 2019. … To compute this rate, I put a line of best fit through the forecasted earnings by market analysts.

Simply Wall St -

Will Civeo Corporation's (NYSE:CVEO) Earnings Grow In The Year Ahead?

Looking at Civeo Corporation's (NYSE:CVEO) earnings update in December 2017, it seems that analyst forecasts are fairly optimistic, as a 44.51% increase in profits is expected in the upcoming year, compared with the past 5-year average growth rate of -42.09%. … To understand the overall trajectory of CVEO's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. … NYSE:CVEO Future Profit Mar 2nd 18 This results in an annual growth rate of 48.00% based on the most recent earnings level of -US$105.71M to the final forecast of -US$188.17M by 2021.

Simply Wall St -

Has Civeo Corporation (NYSE:CVEO) Improved Earnings Growth In Recent Times?

Today I will take you through a basic sense check to gain perspective on how Civeo is doing by evaluating its latest earnings with its longer term trend as well as its industry peers' performance over the same period. … View our latest analysis for Civeo How Did CVEO's Recent Performance Stack Up Against Its Past? … To account for any quarterly or half-yearly updates, I use the ‘latest twelve-month’ data, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data.

Simply Wall St -

How Financially Strong Is Civeo Corporation (NYSE:CVEO)?

With this debt payback, CVEO currently has $1.8M remaining in cash and short-term investments for investing into the business. … Additionally, CVEO has produced cash from operations of $62.1M during the same period of time, resulting in an operating cash to total debt ratio of 17.58%, meaning that CVEO’s debt is not appropriately covered by operating cash. … Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate.Next Steps: CVEO’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Have Investors Already Priced In Civeo Corporation's (NYSE:CVEO) Growth?

Great news for investors – Civeo is still trading at a fairly cheap price. … According to my valuation, the intrinsic value for the stock is $3.85, but it is currently trading at $2.73 on the share market, meaning that there is still an opportunity to buy now. … This is because Civeo’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market.

Simply Wall St -

An Intrinsic Value Calculation For Civeo Corporation (CVEO) Shows It's 22.78% Undervalued

5-year cash flow forecast 2017 2018 2019 2020 2021 Levered FCF (USD, Millions) $48.60 $39.25 $53.90 $44.74 $37.58 Source Analyst x1 Analyst x2 Analyst x1 Extrapolated @ (-17%, capped from -28.36%) Extrapolated @ (-16%, capped from -28.36%) Present Value Discounted @ 13.55% $42.80 $30.44 $36.81 $26.91 $19.90 Present Value of 5-year Cash Flow (PVCF)= $157 After calculating the present value of future cash flows in the intial 5-year period we need to calculate the Terminal Value, which accounts for all the future cash flows beyond the first stage. … Terminal Value (TV) = FCF2021 × (1 + g) ÷ (r – g) = $38 × (1 + 2.5%) ÷ (13.6% – 2.5%) = $347 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $347 / ( 1 + 13.6%)5 = $184 The total value, or equity value, is then the sum of the present value of the cash flows, which in this case is $341. … NYSE:CVEO Intrinsic Value Nov 22nd 17 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

Company Info

Map
Description

Civeo Corporation offers workforce accommodation, logistics, and facility management services to the natural resource industry in Canada, Australia, the United States, and internationally. The company develops lodges and villages; open camps; and mobile camps, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations. It also offers catering and food, housekeeping, recreation facility, laundry and facility management, water and wastewater treatment, power generation, communications, and personnel logistics services, as well as camp management services, including fresh water and sewage hauling services. The company operates 19 lodges and villages with approximately 24,000 rooms; 7 open camp properties; and a fleet of mobile accommodation assets. It serves oil and natural gas, mining, and oilfield and mining service companies. The company is headquartered in Houston, Texas.

Details
Name: Civeo Corporation
CVEO
Exchange: NYSE
Founded:
$645,648,341
167,700,868
Website: http://www.civeo.com
Address: Civeo Corporation
Three Allen Center,
Suite 4980,
Houston,
Texas, 77002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CVEO New Common Stock New York Stock Exchange US USD 19. May 2014
DB 44C New Common Stock Deutsche Boerse AG DE EUR 19. May 2014
Number of employees
Current staff
Staff numbers
1,700
Civeo employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/06/20 23:34
End of day share price update: 2018/06/19 00:00
Last estimates confirmation: 2018/06/11
Last earnings update: 2018/03/31
Last annual earnings update: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.