Covista Inc.
CVSA Consumer Defensive Education & Training Services
Covista Inc.’s revenue for fiscal 2026 (year ended June 2026) was $2.0 billion, up 9.27% from fiscal 2025. In the quarter to June 2026, revenue grew 9.69%, EPS grew 40.7%, free cash flow grew 102.2% and total debt rose 19.9%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.
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Covista Inc. (CVSA) Altman Z-score
Covista Inc.'s Altman Z-score for fiscal 2026 is 4.17, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 4.17 | (0.41) |
| FY2025 | 4.58 | 1.30 |
| FY2024 | 3.28 | 0.67 |
| FY2023 | 2.61 | 0.28 |
| FY2022 | 2.34 | (0.03) |
| FY2021 | 2.37 | (0.68) |
| FY2020 | 3.04 | (0.86) |
| FY2019 | 3.90 | (0.20) |
| FY2018 | 4.10 | (0.04) |
| FY2017 | 4.14 | 0.78 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.02 | — | 0.02 | |
| Retained earnings / total assets | 1.01 | — | 1.41 | |
| EBIT / total assets | 0.13 | — | 0.42 | |
| Market value of equity / total liabilities | 2.79 | — | 1.67 | |
| Sales / total assets | 0.65 | — | 0.65 | |
| Altman Z-score | Safe zone | 4.17 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 5.22 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| LOPE Grand Canyon Education, Inc. compare | 17.5× |
| PRDO Perdoceo Education Corporation compare | 6.7× |
| LRN Stride, Inc. compare | 5.8× |
| LAUR Laureate Education compare | 4.5× |
| CVSA Covista Inc. | 4.2× |
| GHC Graham Holdings Company compare | 3.0× |
| TAL TAL Education Group compare | 2.8× |
| EDU New Oriental Education & Technology Group, Inc. compare | 2.4× |
| MH McGraw Hill, Inc. compare | 0.5× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets