Acquired by Clayton, Dubilier & Rice and TPG in Oct 2022
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CVET - Covetrus, Inc.

NASDAQ -> Healthcare -> Health Information Services
Portland, United States
Type: Equity

CVET price evolution
CVET
(in millions $) 30 Jun 2022 31 Mar 2022 31 Dec 2021 30 Sep 2021
Current assets
Cash $87 $117 $183 $187
Short term investments
Net receivables $656 $627 $555 $568
Inventory $587 $630 $583 $552
Total current assets $1378 $1417 $1351 $1351
Long term investments $45 $48 $49 $96
Property, plant & equipment $287 $285 $281 $247
Goodwill & intangible assets $1648 $1681 $1686 $1726
Total noncurrent assets $2020 $2053 $2059 $2069
Total investments $45 $48 $49 $96
Total assets $3398 $3470 $3410 $3420
Current liabilities
Accounts payable $446 $507 $442 $428
Deferred revenue
Short long term debt $66 $52 $32 $46
Total current liabilities $733 $762 $698 $714
Long term debt $983 $995 $1014 $1027
Total noncurrent liabilities $1138 $1158 $1178 $1181
Total debt $1049 $1047 $1046 $1073
Total liabilities $1871 $1920 $1876 $1895
Shareholders' equity
Retained earnings -$1087 -$1083 -$1081 -$1078
Other shareholder equity -$110 -$81 -$79 -$80
Total shareholder equity $1505 $1528 $1511 $1502
(in millions $) 31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Current assets
Cash $183 $290 $130 $23.32
Short term investments
Net receivables $555 $574 $493 $480.01
Inventory $583 $530 $636 $564.16
Total current assets $1351 $1431 $1340 $1086.61
Long term investments $49 $90 $47 $119.95
Property, plant & equipment $281 $233 $177 $68.55
Goodwill & intangible assets $1686 $1742 $1797 $957.98
Total noncurrent assets $2059 $2065 $2021 $1146.48
Total investments $49 $90 $47 $119.95
Total assets $3410 $3496 $3361 $2233.08
Current liabilities
Accounts payable $442 $405 $520 $441.45
Deferred revenue
Short long term debt $32 $1 $62 $0.68
Total current liabilities $698 $691 $829 $572.56
Long term debt $1014 $1068 $1125 $23.53
Total noncurrent liabilities $1178 $1232 $1266 $74.47
Total debt $1046 $1069 $1187 $24.2
Total liabilities $1876 $1923 $2095 $647.03
Shareholders' equity
Retained earnings -$1081 -$1027 -$1040 $1575.8
Other shareholder equity -$79 -$66 -$86 -$82.21
Total shareholder equity $1511 $1537 $1256 $1493.62
(in millions $) 30 Jun 2022 31 Mar 2022 31 Dec 2021 30 Sep 2021
Revenue
Total revenue $1217 $1148 $1122 $1162
Cost of revenue $988 $923 $910 $946
Gross Profit $229 $225 $212 $216
Operating activities
Research & development
Selling, general & administrative $225 $219 $219 $220
Total operating expenses $225 $219 $219 $220
Operating income $4 $6 -$7 -$4
Income from continuing operations
EBIT $4 $8 -$4 -$6
Income tax expense $1 $3 -$7 -$10
Interest expense $7 $7 $6 $8
Net income
Net income -$4 -$2 -$3 -$4
Income (for common shares) -$4 -$2 -$3 -$4
(in millions $) 31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Revenue
Total revenue $4575 $4339 $3976 $3777.99
Cost of revenue $3717 $3541 $3227 $3093.88
Gross Profit $858 $798 $749 $684.11
Operating activities
Research & development
Selling, general & administrative $881 $867 $808 $538.47
Total operating expenses $881 $867 $1746 $547.01
Operating income -$23 -$69 -$997 $137.1
Income from continuing operations
EBIT -$22 $21 -$970 $137.89
Income tax expense -$7 -$7 $37.03
Interest expense $32 $47 $56 $3
Net income
Net income -$54 -$19 -$1019 $100.86
Income (for common shares) -$54 -$19 -$1019 $100.86
(in millions $) 30 Jun 2022 31 Mar 2022 31 Dec 2021 30 Sep 2021
Net income -$4 -$2 -$3 -$4
Operating activities
Depreciation $48 $48 $51 $49
Business acquisitions & disposals -$18 -$81
Stock-based compensation $10 $13 $7 $14
Total cash flows from operations -$6 -$33 $44 $59
Investing activities
Capital expenditures -$15 -$11 -$21 -$14
Investments
Total cash flows from investing -$15 -$29 -$21 -$95
Financing activities
Dividends paid
Sale and purchase of stock $3 $2 $4 $4
Net borrowings -$30
Total cash flows from financing -$1 -$5 -$29 -$3
Effect of exchange rate -$8 $1 $2 -$4
Change in cash and equivalents -$30 -$66 -$4 -$43
(in millions $) 31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Net income -$54 -$19 -$1019 $100.86
Operating activities
Depreciation $200 $190 $176 $64.1
Business acquisitions & disposals -$81 $49 -$26 -$8.17
Stock-based compensation $46 $40 $46 $7.05
Total cash flows from operations $102 $53 $103 $157.9
Investing activities
Capital expenditures -$59 -$54 -$39 -$21.2
Investments
Total cash flows from investing -$140 -$5 -$65 -$29.37
Financing activities
Dividends paid -$6 -$1174 -$10
Sale and purchase of stock $8 $10 $5
Net borrowings -$30 -$122 $1153 -$2.1
Total cash flows from financing -$66 $104 $66 -$119.69
Effect of exchange rate -$3 $8 $3 -$2.17
Change in cash and equivalents -$107 $160 $107 $6.67
Fundamentals
Market cap N/A
Enterprise value N/A
Shares outstanding 139.84M
Revenue $4.65B
EBITDA $198.00M
EBIT $2.00M
Net Income -$13.00M
Revenue Q/Q 2.35%
Revenue Y/Y 2.42%
P/E ratio 0.00
EV/Sales N/A
EV/EBITDA N/A
EV/EBIT N/A
P/S ratio N/A
P/B ratio 0.00
Book/Share 11.55
Cash/Share 0.62
EPS -$0.09
ROA -0.38%
ROE -0.86%
Debt/Equity 1.24
Net debt/EBITDA 9.01
Current ratio 1.88
Quick ratio 1.08