Covetrus
Market Cap
US$3.4b
Last Updated
2021/06/21 00:26 UTC
Data Sources
Company Financials +
Executive Summary
Covetrus, Inc., together with its subsidiaries, operates as an animal-health technology and services company. More Details
Rewards
Risk Analysis
Snowflake Analysis
Adequate balance sheet and fair value.
Similar Companies
Share Price & News
How has Covetrus's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CVET is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: CVET's weekly volatility (7%) has been stable over the past year.
Market Performance
7 Day Return
-7.7%
CVET
-2.3%
US Healthcare
-1.9%
US Market
1 Year Return
43.0%
CVET
33.0%
US Healthcare
38.2%
US Market
Return vs Industry: CVET exceeded the US Healthcare industry which returned 33% over the past year.
Return vs Market: CVET exceeded the US Market which returned 38.2% over the past year.
Shareholder returns
| CVET | Industry | Market | |
|---|---|---|---|
| 7 Day | -7.7% | -2.3% | -1.9% |
| 30 Day | -3.6% | -4.5% | 1.0% |
| 90 Day | -21.4% | 4.9% | 3.8% |
| 1 Year | 43.0%43.0% | 34.7%33.0% | 40.4%38.2% |
| 3 Year | n/a | 46.0%39.9% | 57.5%47.8% |
| 5 Year | n/a | 99.6%84.8% | 127.2%101.7% |
Long-Term Price Volatility Vs. Market
How volatile is Covetrus's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Estimating The Intrinsic Value Of Covetrus, Inc. (NASDAQ:CVET)1 month ago | Simply Wall St
Is Covetrus (NASDAQ:CVET) Using Too Much Debt?2 months ago | Simply Wall St
Did Business Growth Power Covetrus' (NASDAQ:CVET) Share Price Gain of 249%?Valuation
Is Covetrus undervalued compared to its fair value and its price relative to the market?
23.3%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CVET ($25.24) is trading below our estimate of fair value ($32.91)
Significantly Below Fair Value: CVET is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CVET is unprofitable, so we can't compare its PE Ratio to the US Healthcare industry average.
PE vs Market: CVET is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate CVET's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: CVET is good value based on its PB Ratio (2.3x) compared to the US Healthcare industry average (4x).
Future Growth
How is Covetrus forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
54.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CVET is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).
Earnings vs Market: CVET is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: CVET's is expected to become profitable in the next 3 years.
Revenue vs Market: CVET's revenue (5.9% per year) is forecast to grow slower than the US market (9.5% per year).
High Growth Revenue: CVET's revenue (5.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CVET's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Covetrus performed over the past 5 years?
-52.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CVET is currently unprofitable.
Growing Profit Margin: CVET is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: CVET is unprofitable, and losses have increased over the past 5 years at a rate of 52.4% per year.
Accelerating Growth: Unable to compare CVET's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: CVET is unprofitable, making it difficult to compare its past year earnings growth to the Healthcare industry (59.7%).
Return on Equity
High ROE: CVET has a negative Return on Equity (0%), as it is currently unprofitable.
Financial Health
How is Covetrus's financial position?
Financial Position Analysis
Short Term Liabilities: CVET's short term assets ($1.4B) exceed its short term liabilities ($682.0M).
Long Term Liabilities: CVET's short term assets ($1.4B) exceed its long term liabilities ($1.2B).
Debt to Equity History and Analysis
Debt Level: CVET's debt to equity ratio (67.9%) is considered high.
Reducing Debt: Insufficient data to determine if CVET's debt to equity ratio has reduced over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable CVET has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: CVET is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 18.9% per year.
Dividend
What is Covetrus's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate CVET's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate CVET's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if CVET's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if CVET's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CVET's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.6yrs
Average management tenure
CEO
Ben Wolin (44 yo)
1.67yrs
Tenure
US$4,490,990
Compensation
Mr. Benjamin Wolin, also known as Ben, serves as President and Chief Executive Officer since March 20, 2020 and served as Acting Chief Executive Officer and President of Covetrus, Inc. since October 21, 20...
CEO Compensation Analysis
Compensation vs Market: Ben's total compensation ($USD4.49M) is about average for companies of similar size in the US market ($USD5.38M).
Compensation vs Earnings: Ben's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: CVET's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.
Board Members
Experienced Board: CVET's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 22%.
Top Shareholders
Company Information
Covetrus, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Covetrus, Inc.
- Ticker: CVET
- Exchange: NasdaqGS
- Founded: 2018
- Industry: Health Care Distributors
- Sector: Healthcare
- Market Cap: US$3.448b
- Shares outstanding: 136.59m
- Website: https://www.covetrus.com
Number of Employees
Location
- Covetrus, Inc.
- 7 Custom House Street
- Portland
- Maine
- 4101
- United States
Listings
Biography
Covetrus, Inc., together with its subsidiaries, operates as an animal-health technology and services company. It engages in the sale of animal-health consumable products, including proprietary and Covetrus...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/06/21 00:26 |
| End of Day Share Price | 2021/06/18 00:00 |
| Earnings | 2021/03/31 |
| Annual Earnings | 2020/12/31 |
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.