| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 71 | 17.6x | 17.8x | Top tier | |
Growth | 74 | 9.3% | 7.1% | Top tier | |
Quality | 89 | 13.4% | 4.5% | Top tier | |
Safety | 77 | 1.2x | 2.6x | Top tier | |
Capital Return | 60 | — | 2.12% | Around median | |
Momentum | 62 | -4.2% | 2.9% | Around median | |
Sentiment | 33 | 3 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Covista Inc. is a national platform for healthcare workforce development, operating through three educational segments: Chamberlain, Walden, and the Medical and Veterinary segment. Total enrollment exceeded 100 thousand students in Q3 FY2026; enrollment reached 40,767 students at Chamberlain, 54,474 students at Walden, and 5,344 students in the Medical and Veterinary programs. Revenue growth is linked to enrollment, student retention, program launches, and campus expansion, in addition to building funded employment pathways in collaboration with healthcare institutions.
In Q4 FY2026, revenue reached $501.4 million, gross profit was $284.6 million, and net income was $71.7 million; representing a calculated gross margin of approximately 56.8% and a net margin of approximately 14.3%. For FY2026, Covista recorded revenue of $2.0 billion, gross profit of $1.1 billion, and net income of $251.6 million, with earnings per share of $7.04.
Q3 FY2026 details show that Chamberlain generated $197 million in revenue, Walden generated $186.6 million, while the Medical and Veterinary segment recorded $103.5 million. Net income according to EDGAR was approximately $41.6 million, while adjusted net income was $69 million, and adjusted earnings before interest, taxes, depreciation, and amortization reached $127.9 million. Excluding the $18 million impact of shifting one academic week at Walden, the company said revenue growth would have been 8.4% and the adjusted earnings before interest, taxes, depreciation, and amortization margin would have been 28.9%.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average target of $157.5 and a wide range of $140–$175. The average target is approximately 0.8% above the 52-week range high of $156.26, while the highest target exceeds that high by approximately 12%; this assumes continued improvement at Chamberlain, growth at Walden, and execution of the planned expansion. The context does not provide a valid comparable earnings multiple, so Covista's valuation here is based on the target range, FY2026 earnings per share of $7.04, capital investment risks, and the slowdown in reported enrollment growth.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Growth came from higher enrollment across all three segments, with total enrollment increasing 6.8% in Q3 FY2026 and the number of students exceeding 100 thousand. Walden grew 12.3% to 54,474 students, and Chamberlain returned to positive growth of 0.5% at 40,767 students. Enrollment in the Medical and Veterinary segment also grew 4.1% to 5,344 students, and its revenue increased 8.9% to $103.5 million.
Chamberlain posted its first positive total enrollment growth in Q3 FY2026, at 0.5%, and recorded the highest student count in its history at 40,767 students. Management said on May 8, 2026 that applications increased at a double-digit rate and conversion rates returned to levels closer to historical rates after adjustments to marketing, admissions, and scholarship procedures. However, post-licensure programs remained below the prior year, and management described the improvement as a beginning that did not justify declaring the recovery complete.
Walden generated revenue of $186.6 million in Q3 FY2026, equivalent to approximately 38.3% of group revenue. Excluding the $18 million shift of one academic week, its revenue would have reached $204.6 million, up 14.7%. Its adjusted earnings before interest, taxes, depreciation, and amortization would also have reached $67.8 million, with a margin of 33.1% and a year-over-year increase of 280 basis points.
Covista is working with Google Cloud to develop an AI-powered classroom within the platform used by students. Its certificates in nursing, medicine, and AI fundamentals also enrolled more than 4,000 learners by May 8, 2026. The company established the Covista Healthcare Readiness AI Council with clinical leaders from Cleveland Clinic, University of Chicago Medicine, and Advocate Health to connect curricula with real-world clinical practice.
Free cash flow for the last 12 months reached $336 million in Q3 FY2026, up 17%, and cash and equivalents totaled $147 million as of March 31, 2026. Net leverage declined to 0.7 times, and the company refinanced its debt into a $510 million term loan with a 50-basis-point interest rate reduction and maturity extended to 2033. In the same quarter, Covista repurchased $66 million of shares while continuing to fund campus expansion and technology investments.
Most of Covista's revenue is concentrated in Chamberlain and Walden, which together accounted for approximately 78.8% of Q3 FY2026 revenue. Chamberlain's growth was also only 0.5%, and total enrollment growth slowed to 6.8% compared with a nearly 10% comparison in the prior year. Management expected capital expenditures in Q4 FY2026 to increase from the $20 million level in Q3, alongside elevated growth investments and a higher tax rate than in FY2025.
