Civeo (CVEO) financial statements
Civeo reported revenue of $639M in fiscal 2025, up 5.4% a year over 9 years.
Net income was -$20M and the operating margin 0.6%, against -24.1% in 2016.
Free cash flow was $2M, and the company returned $3M in dividends and $54M in net buybacks.
The diluted share count fell 88% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Civeo's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $397M | $382M | $467M | $528M | $530M | $594M | $697M | $701M | $682M | $639M |
| Cost of revenue | $22M | $12M | — | — | — | — | $517M | $530M | $533M | $488M |
| Gross profit | $376M | $370M | — | — | — | — | $180M | $171M | $149M | $151M |
| Selling, general and admin | $55M | $63M | $67M | $60M | $54M | $61M | $70M | $73M | $73M | $75M |
| Operating income | -$96M | -$98M | -$88M | -$49M | -$147M | $6M | $17M | $39M | $1M | $4M |
| Interest expense | $23M | $21M | $26M | $27M | $17M | $13M | $11M | $13M | $8M | $11M |
| Pre-tax income | -$116M | -$119M | -$113M | -$69M | -$143M | $6M | $11M | $40M | -$6M | -$6M |
| Income tax | -$20M | -$13M | -$31M | -$11M | -$11M | $3M | $4M | $11M | $12M | $14M |
| Net income | -$96M | -$106M | -$82M | -$58M | -$134M | $1M | $4M | $30M | -$17M | -$20M |
| EPS (diluted) | -$0.90 | -$0.82 | -$10.06 | -$4.33 | -$9.64 | -$0.04 | -$0.21 | $2.01 | -$1.19 | -$1.59 |
| Diluted shares | 107M | 128M | 13M | 14M | 14M | 14M | 14M | 15M | 14M | 13M |
| Gross margin | 94.6% | 96.8% | — | — | — | — | 25.8% | 24.3% | 21.9% | 23.7% |
| Operating margin | -24.1% | -25.6% | -18.9% | -9.3% | -27.8% | 1.0% | 2.4% | 5.6% | 0.2% | 0.6% |
| Net margin | -24.3% | -27.7% | -17.6% | -11.1% | -25.3% | 0.2% | 0.6% | 4.3% | -2.5% | -3.1% |
Balance sheet
Fiscal years, from Civeo's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2M | $33M | $12M | $3M | $6M | $6M | $8M | $3M | $5M | $14M |
| Receivables | $56M | $67M | $70M | $99M | $90M | $115M | $120M | $143M | $89M | $90M |
| Inventory | $3M | $7M | $4M | $6M | $6M | $6M | $7M | $7M | $8M | $6M |
| Total current assets | $83M | $132M | $108M | $131M | $119M | $157M | $154M | $175M | $110M | $131M |
| Property, plant and equipment | $790M | $694M | $659M | $590M | $487M | $390M | $302M | $271M | $205M | $245M |
| Goodwill | — | $0 | $114M | $110M | $9M | $8M | $8M | $8M | $7M | $8M |
| Total assets | $910M | $854M | $1.0B | $970M | $741M | $673M | $566M | $548M | $405M | $477M |
| Total current liabilities | $60M | $76M | $87M | $110M | $117M | $137M | $128M | $114M | $93M | $85M |
| Long-term debt | $338M | $278M | $343M | $322M | $214M | $143M | $103M | $66M | $43M | $183M |
| Total liabilities | $434M | $378M | $466M | $479M | $365M | $310M | $262M | $225M | $168M | $303M |
| Shareholders' equity | $475M | $476M | $535M | $490M | $375M | $361M | $300M | $320M | $236M | $174M |
| Net debt | $351M | $262M | $364M | $354M | $242M | $167M | $123M | $62M | $38M | $168M |
Cash flow
Fiscal years, from Civeo's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $62M | $57M | $54M | $74M | $117M | $89M | $92M | $97M | $84M | $22M |
| Capital spending | $20M | $11M | $17M | $30M | $10M | $16M | $25M | $32M | $26M | $20M |
| Free cash flow | $42M | $46M | $37M | $45M | $107M | $73M | $66M | $65M | $57M | $2M |
| Stock-based compensation | $16M | $15M | $16M | $14M | $8M | $10M | $15M | $12M | $9M | $9M |
| Dividends paid | — | — | — | — | — | $0 | $0 | $7M | $14M | $3M |
| Share buybacks (net) | — | — | — | $0 | $0 | -$5M | -$14M | -$12M | -$30M | -$54M |
| Net borrowing | -$41M | -$41M | -$27M | -$35M | -$40M | -$125M | -$30M | -$30M | $0 | $0 |
| Free cash flow margin | 10.7% | 11.9% | 8.0% | 8.5% | 20.3% | 12.3% | 9.5% | 9.3% | 8.4% | 0.3% |
| Dividends per share | — | — | — | — | — | — | — | $0.49 | $1.01 | $0.27 |
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Open CVEO in InvestinglyQuestions
What was Civeo's revenue in 2025?
$639M in fiscal 2025, from its 10-K filing.
How much free cash flow does Civeo generate?
$2M in fiscal 2025 (operating cash flow minus capital spending).
From Civeo's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.