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Covista Inc.

Rank #150Capital ReturnWatchlistCompare with other stocks

CVSA · NYSE · Consumer Defensive

Covista Inc. (CVSA) — Rank #150 by gross profitability (GP/assets 0.37) · ROE 17.4% · Piotroski F-Score 6 / 9.

As-of 2026-10-30 · CIK 0000730464 · all metrics point-in-time as of the filing date.

About

Covista Inc., together with its subsidiaries, provides healthcare education in the United States, Barbados, St.

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Kitts, and St. Maarten. It operates in three segments: Chamberlain, Walden, and Medical and Veterinary. The company provides degree programs, including bachelor's, master's, and doctoral degrees; and online certificate programs for nursing, health professions, medical, and veterinary postsecondary education, counseling, business, information technology, psychology, public health, social work and human services, public administration and public policy, and criminal justice. It also operates Chamberlain University, Walden University, American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine. The company was formerly known as Adtalem Global Education Inc. and changed its name to Covista Inc. in February 2026. Covista Inc.

was incorporated in 1987 and is headquartered in Chicago, Illinois.

Industry
Education & Training Services
Sector
Consumer Defensive
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
June 30

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

4,736

Industry

Education & Training Services

Exchange

NYSE

12/12

Flags passed

CVSA passes 12/12 quality flags

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Operating leverage expanding · Deferred revenue growing

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.37
Return on equity
17.4%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.08
Current ratio
1.09×
Net cash
-$256.53M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
2.1%

Growth

2/2 pass
Revenue growth
9.3%
Piotroski F-Score
6 / 9
Share dilution
-6.8%

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 0.37

Gross profitability (GP / assets)

0.37

Primary signal (Novy-Marx).

3rd of 5 SIC 8200 peers

Return on equity

17.4%

Gross margin

57.3%

1st of 5 SIC 8200 peers

Revenue growth (YoY)

9.3%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202420252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

10.4%

Revenue CAGR (5Y)

16.8%

Earnings CAGR (3Y)

39.2%

FCF CAGR (3Y)

33.3%

Cash Flow Health

Is the cash real?

No warning flags · FCF 56% above net income

Free cash flow

$392.73M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

56.1%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

2.1%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net debt $256.53M, F-Score 6/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.08

4th of 5 SIC 8200 peers (best = lowest)

Current ratio

1.09×

5th of 5 SIC 8200 peers

Quick ratio

0.96×

Net cash

-$256.53M

Cash & equivalents minus total debt.

Piotroski F-Score

6 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

4.0 / 5

Strong
Share count trend(net buybacks)
-6.8%5/5 Strong
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory(deleveraging)
3.2%4/5 Strong

Lifecycle Phase History

20212026
Capital Return
Hypergrowth

Price History

CVSA+231.3% · +27.0% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports