Covista (CVSA)
Market Price (5/22/2026): $124.03 | Market Cap: $4.3 BilSector: Consumer Discretionary | Industry: Education Services
Covista (CVSA)
Market Price (5/22/2026): $124.03Market Cap: $4.3 BilSector: Consumer DiscretionaryIndustry: Education Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, FCF Yield is 7.9% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include Cybersecurity. Themes include Software Security, Network Security, and Cloud Security. | Key risksCVSA key risks include [1] decelerating revenue growth and [2] a periodic lag in operating cash flow versus operating profit. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, FCF Yield is 7.9% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Cybersecurity. Themes include Software Security, Network Security, and Cloud Security. |
| Key risksCVSA key risks include [1] decelerating revenue growth and [2] a periodic lag in operating cash flow versus operating profit. |
Qualitative Assessment
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Covista (CVSA) stock has gained about 20% since 1/31/2026 because of the following key factors:
1. Strong Q1 2026 Earnings Beat and Upgraded Full-Year Guidance. Covista reported Q1 2026 results (fiscal Q3 2026) that significantly exceeded market expectations, with revenue of $487 million beating analyst estimates by 2.7% and adjusted EPS of $1.98 surpassing consensus by 14.9%. Following these strong results, the company raised its full-year 2026 revenue guidance to a midpoint of $1.94 billion and increased its full-year adjusted EPS guidance to a midpoint of $8.05, representing a 1.9% increase.
2. Strategic Integration of AI in Healthcare Education through Google Cloud Partnership. Covista announced a partnership with Google Cloud on April 14, 2026, to develop an AI-powered classroom of the future for healthcare education. This initiative integrates Google Cloud's LearnLM, Gemini, and NotebookLM, and has already seen over 3,400 learners enroll in healthcare AI credentials in the first week. A pilot for the AI-powered learning tool is slated for Fall 2026, positioning Covista as an innovator addressing the demand for technologically advanced healthcare professionals.
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1. Strong Q1 2026 Earnings Beat and Upgraded Full-Year Guidance. Covista reported Q1 2026 results (fiscal Q3 2026) that significantly exceeded market expectations, with revenue of $487 million beating analyst estimates by 2.7% and adjusted EPS of $1.98 surpassing consensus by 14.9%. Following these strong results, the company raised its full-year 2026 revenue guidance to a midpoint of $1.94 billion and increased its full-year adjusted EPS guidance to a midpoint of $8.05, representing a 1.9% increase.
2. Strategic Integration of AI in Healthcare Education through Google Cloud Partnership. Covista announced a partnership with Google Cloud on April 14, 2026, to develop an AI-powered classroom of the future for healthcare education. This initiative integrates Google Cloud's LearnLM, Gemini, and NotebookLM, and has already seen over 3,400 learners enroll in healthcare AI credentials in the first week. A pilot for the AI-powered learning tool is slated for Fall 2026, positioning Covista as an innovator addressing the demand for technologically advanced healthcare professionals.
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Stock Movement Drivers
Fundamental Drivers
The 19.8% change in CVSA stock from 1/31/2026 to 5/21/2026 was primarily driven by a 24.4% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 103.55 | 124.08 | 19.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,889 | 1,910 | 1.1% |
| Net Income Margin (%) | 13.4% | 12.3% | -8.6% |
| P/E Multiple | 14.6 | 18.2 | 24.4% |
| Shares Outstanding (Mil) | 36 | 34 | 4.2% |
| Cumulative Contribution | 19.8% |
Market Drivers
1/31/2026 to 5/21/2026| Return | Correlation | |
|---|---|---|
| CVSA | 19.8% | |
| Market (SPY) | 7.6% | 14.7% |
| Sector (XLY) | -1.8% | 9.1% |
Fundamental Drivers
The 26.6% change in CVSA stock from 10/31/2025 to 5/21/2026 was primarily driven by a 29.8% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 98.02 | 124.08 | 26.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,833 | 1,910 | 4.2% |
| Net Income Margin (%) | 13.8% | 12.3% | -11.1% |
| P/E Multiple | 14.0 | 18.2 | 29.8% |
| Shares Outstanding (Mil) | 36 | 34 | 5.3% |
| Cumulative Contribution | 26.6% |
Market Drivers
10/31/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| CVSA | 26.6% | |
| Market (SPY) | 9.5% | 16.1% |
| Sector (XLY) | -0.7% | 15.8% |
Fundamental Drivers
The 16.8% change in CVSA stock from 4/30/2025 to 5/21/2026 was primarily driven by a 13.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 106.20 | 124.08 | 16.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,688 | 1,910 | 13.2% |
| Net Income Margin (%) | 12.3% | 12.3% | -0.7% |
| P/E Multiple | 19.1 | 18.2 | -4.8% |
| Shares Outstanding (Mil) | 37 | 34 | 9.2% |
| Cumulative Contribution | 16.8% |
Market Drivers
4/30/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| CVSA | 16.8% | |
| Market (SPY) | 35.5% | 10.2% |
| Sector (XLY) | 21.3% | 5.3% |
Fundamental Drivers
The 205.8% change in CVSA stock from 4/30/2023 to 5/21/2026 was primarily driven by a 274.5% change in the company's P/E Multiple.| (LTM values as of) | 4302023 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.57 | 124.08 | 205.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,442 | 1,910 | 32.4% |
| Net Income Margin (%) | 26.3% | 12.3% | -53.5% |
| P/E Multiple | 4.9 | 18.2 | 274.5% |
| Shares Outstanding (Mil) | 45 | 34 | 32.5% |
| Cumulative Contribution | 205.8% |
Market Drivers
4/30/2023 to 5/21/2026| Return | Correlation | |
|---|---|---|
| CVSA | 205.8% | |
| Market (SPY) | 85.6% | 27.6% |
| Sector (XLY) | 64.5% | 24.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CVSA Return | -13% | 20% | 66% | 54% | 14% | 22% | 271% |
| Peers Return | -7% | -2% | 32% | 58% | 30% | 16% | 185% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| CVSA Win Rate | 58% | 42% | 75% | 50% | 50% | 60% | |
| Peers Win Rate | 45% | 48% | 60% | 52% | 63% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| CVSA Max Drawdown | -34% | -38% | -23% | -27% | -42% | -24% | |
| Peers Max Drawdown | -38% | -36% | -32% | -24% | -27% | -15% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LOPE, STRA, APEI, UTI, LAUR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/21/2026 (YTD)
How Low Can It Go
| Event | CVSA | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.6% | -18.8% |
| % Gain to Breakeven | 18.5% | 23.1% |
| Time to Breakeven | 37 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -18.4% | -6.7% |
| % Gain to Breakeven | 22.5% | 7.1% |
| Time to Breakeven | 14 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.6% | -24.5% |
| % Gain to Breakeven | 55.3% | 32.4% |
| Time to Breakeven | 37 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.5% | -33.7% |
| % Gain to Breakeven | 60.1% | 50.9% |
| Time to Breakeven | 51 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -38.9% | -12.2% |
| % Gain to Breakeven | 63.7% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -59.9% | -6.8% |
| % Gain to Breakeven | 149.5% | 7.3% |
| Time to Breakeven | 663 days | 15 days |
In The Past
Covista's stock fell -15.6% during the 2025 US Tariff Shock. Such a loss loss requires a 18.5% gain to breakeven.
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Asset Allocation
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| Event | CVSA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.6% | -24.5% |
| % Gain to Breakeven | 55.3% | 32.4% |
| Time to Breakeven | 37 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.5% | -33.7% |
| % Gain to Breakeven | 60.1% | 50.9% |
| Time to Breakeven | 51 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -38.9% | -12.2% |
| % Gain to Breakeven | 63.7% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -59.9% | -6.8% |
| % Gain to Breakeven | 149.5% | 7.3% |
| Time to Breakeven | 663 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -46.6% | -17.9% |
| % Gain to Breakeven | 87.4% | 21.8% |
| Time to Breakeven | 4491 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -24.6% | -15.4% |
| % Gain to Breakeven | 32.7% | 18.2% |
| Time to Breakeven | 382 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -26.1% | -53.4% |
| % Gain to Breakeven | 35.3% | 114.4% |
| Time to Breakeven | 46 days | 1085 days |
In The Past
Covista's stock fell -15.6% during the 2025 US Tariff Shock. Such a loss loss requires a 18.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Covista (CVSA)
Adtalem Global Education Inc. provides workforce solutions worldwide. It operates through two segments, Medical and Healthcare; and Financial Services. The Medical and Healthcare segment offers degree and non-degree programs in the medical and healthcare postsecondary education industry. This segment operates Chamberlain University, American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine. The Financial Services segment provides test preparation, certifications, conferences, seminars, memberships, and subscriptions to business professionals in the areas of accounting, anti-money laundering, banking, and mortgage lending. It operates Association of Certified Anti-Money Laundering Specialists, Becker Professional Education, OnCourse Learning, and EduPristine. The company was formerly known as DeVry Education Group Inc. and changed its name to Adtalem Global Education Inc. in May 2017. Adtalem Global Education Inc. was incorporated in 1987 and is based in Chicago, Illinois.
AI Analysis | Feedback
1. It's like Kaplan Education, but also owns and operates its own medical, nursing, and veterinary universities.
2. Think of it as a more diversified Strategic Education, Inc. (which owns Strayer and Capella Universities), specializing in healthcare degrees and financial professional certifications.
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nullAI Analysis | Feedback
Adtalem Global Education Inc. (symbol: CVSA) primarily sells its services to individuals.
Its major customer categories are:
- Students pursuing higher education degrees: This includes individuals enrolled in undergraduate and graduate programs in medicine, nursing, and veterinary medicine through institutions like Chamberlain University, American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine.
- Business professionals seeking certifications and continuing education: This category encompasses individuals in fields such as accounting, anti-money laundering, banking, and mortgage lending who utilize services for test preparation, professional certifications, conferences, and ongoing education from brands like Becker Professional Education, Association of Certified Anti-Money Laundering Specialists (ACAMS), and OnCourse Learning.
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Steve Beard, Chairman and Chief Executive Officer
Steve Beard was named CEO of Covista in 2021 and elected Chairman of the Board in 2024. Under his leadership, Covista transformed from a diversified education and training company to one centered on healthcare education. He joined the company in 2018 as General Counsel and later became Chief Operating Officer, where he led the now divested financial services segment and portfolio repositioning. Prior to Covista, Beard served as Executive Vice President and Chief Administrative Officer at Heidrick & Struggles International. He also serves as board chair of A Better Chicago, a venture philanthropy.
Bob Phelan, Senior Vice President and Chief Financial Officer
Bob Phelan serves as chief financial officer at Covista, bringing over 35 years of finance and operational experience. He oversees all aspects of finance, including real estate and cybersecurity. Since joining Covista in February 2020, Phelan has held multiple leadership roles, including vice president and chief accounting officer, where he managed enterprise-wide accounting and reporting, SEC and regulatory filings, real estate, and strategic sourcing operations.
Michael Betz, Chief Digital Officer and President, Walden University
Michael Betz serves as chief digital officer of Covista and president of Walden University. In his dual role, Betz leads digital transformation and AI strategy across Covista and its institutions. As president of Walden University, he leads the institution, serving over 50,000 online learners through various degree and certificate programs.
Scott Liles, President, Medical and Veterinary
Scott Liles serves as president of the medical and veterinary segment at Covista. He is responsible for leading the growth strategy and operations for institutions such as American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine. His leadership focuses on expanding access to medical and veterinary education for students.
Douglas Beck, Senior Vice President, Institutional Support Services, General Counsel and Corporate Secretary
Douglas Beck holds the titles of Senior Vice President, Institutional Support Services, General Counsel, and Corporate Secretary at Covista.
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The key risks to Covista's business include:
- Heavy reliance on Title IV funding and regulatory changes: Covista's business is significantly dependent on federal funding through Title IV, with some of its institutions nearing a concerning threshold of revenue derived from this source. Changes in government regulations regarding federal student aid could therefore pose a substantial risk to the company's financial stability.
- Short-term headwinds at Chamberlain University: The company has experienced short-term challenges, particularly an enrollment decline of 1% at Chamberlain University. These headwinds have contributed to a significant drop in the company's stock value, despite overall revenue growth in other segments like Walden University.
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Covista (trading under the symbol CVSA), formerly known as Adtalem Global Education Inc. until February 2026, primarily operates in the healthcare education sector, addressing the U.S. healthcare workforce shortage through its various institutions. The company's main products and services include degree and non-degree programs in nursing, health professions, medical, and veterinary postsecondary education. The addressable markets for these services are substantial within the United States.
Addressable Markets for Covista's Main Products and Services (U.S. Region):
- U.S. Healthcare Education Market: The overall U.S. healthcare education market was estimated at USD 39.24 billion in 2023 and is projected to grow to USD 61.44 billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 9.4%. North America, with the U.S. as a leading contributor, holds the largest share of the global healthcare education market.
- U.S. Nursing Education Market: This market was valued at USD 9.7 billion in 2024 and is expected to grow at a CAGR of 5.3% between 2025 and 2034. Other estimates place the market size to increase by USD 25.25 billion with a CAGR of 6.1% from 2025 to 2030, and project it to be worth USD 14.57 billion by 2030. North America accounts for approximately 60% of the global nursing education market.
- U.S. Medical Education Market: The medical education market in the U.S. was valued at USD 35.07 billion in 2024 and is anticipated to reach USD 53.02 billion by 2033, growing at a CAGR of 4.7%. The U.S. continuing medical education (CME) segment alone was valued at USD 3.35 billion in 2024 and is expected to reach USD 4.67 billion by 2030.
- U.S. Veterinary Education Market: The U.S. veterinary education market was estimated at USD 754.4 million in 2024. It is projected to grow at a CAGR of 7.62% from 2025 to 2030, reaching USD 1.16 billion by 2030. Another report valued the U.S. market at USD 1.01 billion in 2024, with a projected increase to USD 1.56 billion by 2032.
- U.S. Healthcare Workforce Management System Market: Given Covista's focus on addressing workforce shortages, the U.S. healthcare workforce management system market is also relevant. This market generated USD 662.8 million in revenue in 2023 and is expected to reach USD 1,513.5 million by 2030, with a CAGR of 12.5% from 2024 to 2030. Another estimate for the U.S. market is USD 0.92 billion in 2025, projected to reach USD 2.51 billion by 2035 with a CAGR of 10.68%.
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Covista (CVSA) is strategically positioned to leverage several key drivers for future revenue growth over the next 2-3 years, primarily by addressing the persistent demand within the healthcare sector.
- Sustained Enrollment Growth in Healthcare Programs: As America's largest healthcare educator, Covista benefits from the ongoing shortage of healthcare workers, which fuels demand for its educational programs. The company has demonstrated consistent enrollment growth across its institutions, including Chamberlain University and Walden University, with total enrollment increasing year-over-year. This continued growth in its student base directly translates to increased revenue.
- Expansion of Healthcare Education Offerings and Geographic Reach (Platform Extension): Covista's "Purpose at Scale" growth strategy includes platform extension, focusing on serving more students in additional communities and expanding into new, adjacent healthcare domains where workforce shortages are most acute. This strategic expansion aims to capture a larger share of the healthcare education market.
- Scaling Employer Partnerships and Integration: A crucial aspect of Covista's growth plan is to enhance and scale its partnerships with employers. By connecting educational pathways more directly to employer needs and integrating with healthcare systems, Covista aims to better address workforce demands, which can lead to increased program relevance, higher enrollment, and new revenue streams through corporate training or customized programs.
- Leveraging Technology and AI in Education: Covista is integrating technology and artificial intelligence (AI) into its educational offerings. This includes partnerships with AI programs like HelloAI, Google Cloud, and Hippocratic AI to train healthcare professionals in AI-powered decision-making and prepare them for evolving industry demands. This focus on tech-enabled education is intended to catalyze enrollments, provide a competitive edge, and ensure graduates are well-prepared for the future healthcare landscape.
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Share Repurchases
- The company completed a $150 million share repurchase program and authorized a new program of up to $750 million, set to run through December 2028.
- Since February 2022, Covista (as Adtalem Global Education) has repurchased $913 million worth of shares, reducing outstanding shares by 30%.
- In the second quarter of fiscal year 2026, $165 million was deployed to repurchase 1.7 million shares at an average price of $95, completing the prior $150 million authorization and leaving $728 million remaining on the $750 million authorization as of December 31, 2025.
Capital Expenditures
- Capital expenditures were approximately $39.88 million in fiscal year 2021, $31.05 million in fiscal year 2022, and $26.01 million in fiscal year 2023.
- In fiscal year 2024, capital expenditures were approximately $48.89 million, increasing to $50.33 million in fiscal year 2025.
- For the twelve months ending December 2025, capital expenditures amounted to approximately $59.88 million, with future expenditures expected to focus on campus investments and capacity expansion.
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 65.20 |
| Mkt Cap | 3.1 |
| Rev LTM | 1,198 |
| Op Inc LTM | 254 |
| FCF LTM | 217 |
| FCF 3Y Avg | 177 |
| CFO LTM | 256 |
| CFO 3Y Avg | 228 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.6% |
| Rev Chg 3Y Avg | 8.4% |
| Rev Chg Q | 6.5% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Inc Chg LTM | 14.9% |
| Op Inc Chg 3Y Avg | 36.4% |
| Op Mgn LTM | 17.5% |
| Op Mgn 3Y Avg | 15.8% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 19.2% |
| CFO/Rev 3Y Avg | 16.5% |
| FCF/Rev LTM | 14.4% |
| FCF/Rev 3Y Avg | 12.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.1 |
| P/S | 2.3 |
| P/Op Inc | 12.5 |
| P/EBIT | 12.5 |
| P/E | 18.6 |
| P/CFO | 11.7 |
| Total Yield | 5.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 6.8% |
| D/E | 0.2 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.4% |
| 3M Rtn | 10.0% |
| 6M Rtn | 21.7% |
| 12M Rtn | -0.7% |
| 3Y Rtn | 186.3% |
| 1M Excs Rtn | -8.9% |
| 3M Excs Rtn | 3.2% |
| 6M Excs Rtn | 5.2% |
| 12M Excs Rtn | -27.1% |
| 3Y Excs Rtn | 114.0% |
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA021658 | ALVESCO | ciclesonide | aerosol, metered | 1102008 | -11.8% | -4.2% | -0.4% | 0.0% | 136.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Chamberlain | 634 | 571 | 558 | 564 | |
| Walden | 595 | 534 | 485 | ||
| Medical and Veterinary | 356 | 346 | 339 | 343 | |
| Financial Services | 186 | ||||
| Medical and Healthcare | 866 | ||||
| Total | 1,585 | 1,451 | 1,382 | 907 | 1,052 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Chamberlain | 138 | 136 | 127 | 129 | |
| Walden | 131 | 110 | 105 | ||
| Medical and Veterinary | 72 | 67 | 69 | 68 | |
| Asset impairments | 0 | ||||
| Strategic advisory costs | 0 | ||||
| Loss on assets held for sale | -1 | 0 | |||
| Debt modification costs | -1 | 0 | |||
| Restructuring expense | -2 | -19 | -26 | -7 | -29 |
| Litigation reserve | -18 | -10 | 0 | ||
| Home Office | -31 | -26 | -33 | -40 | -24 |
| Business integration expense | -34 | -43 | -53 | -32 | |
| Amortization of acquired intangible assets | -36 | -61 | -97 | ||
| CEO transition costs | 0 | -6 | |||
| Deferred revenue adjustment | 0 | -9 | |||
| Gain on sale of assets | 13 | 0 | 5 | ||
| Financial Services | 22 | ||||
| Medical and Healthcare | 168 | ||||
| Total | 217 | 168 | 77 | 118 | 142 |
Price Behavior
Price Behavior
| Market Price | $124.08 | |
| Market Cap ($ Bil) | 4.6 | |
| First Trading Date | 06/28/1991 | |
| Distance from 52W High | -19.7% | |
| 50 Days | 200 Days | |
| DMA Price | $116.05 | $116.85 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 6.9% | 6.2% |
| 3M | 1YR | |
| Volatility | 42.9% | 46.9% |
| Downside Capture | -21.36 | 31.15 |
| Upside Capture | 75.54 | 15.68 |
| Correlation (SPY) | 12.3% | 12.0% |
CVSA Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.82 | 0.27 | 0.35 | 0.28 | 0.35 | 0.77 |
| Up Beta | 0.43 | 0.25 | 0.14 | 0.49 | 0.76 | 0.91 |
| Down Beta | 1.19 | -0.44 | -1.32 | -0.06 | 0.32 | 0.84 |
| Up Capture | 50% | 80% | 75% | -5% | 10% | 52% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 13 | 26 | 36 | 72 | 142 | 426 |
| Down Capture | 627% | 9% | 103% | 59% | 17% | 76% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 9 | 17 | 28 | 53 | 110 | 321 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CVSA | |
|---|---|---|---|---|
| CVSA | -6.9% | 46.8% | 0.02 | - |
| Sector ETF (XLY) | 10.8% | 18.3% | 0.42 | 5.5% |
| Equity (SPY) | 26.8% | 12.1% | 1.67 | 11.9% |
| Gold (GLD) | 37.5% | 26.8% | 1.16 | 5.3% |
| Commodities (DBC) | 43.5% | 18.6% | 1.80 | -6.8% |
| Real Estate (VNQ) | 12.0% | 13.4% | 0.59 | 10.5% |
| Bitcoin (BTCUSD) | -27.2% | 41.8% | -0.65 | 0.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CVSA | |
|---|---|---|---|---|
| CVSA | 26.7% | 42.1% | 0.69 | - |
| Sector ETF (XLY) | 7.7% | 23.7% | 0.28 | 25.8% |
| Equity (SPY) | 13.8% | 17.0% | 0.64 | 28.6% |
| Gold (GLD) | 19.3% | 18.0% | 0.87 | 2.6% |
| Commodities (DBC) | 10.8% | 19.4% | 0.44 | 4.1% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 22.8% |
| Bitcoin (BTCUSD) | 9.3% | 55.6% | 0.37 | 12.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CVSA | |
|---|---|---|---|---|
| CVSA | 20.5% | 39.8% | 0.60 | - |
| Sector ETF (XLY) | 12.8% | 22.0% | 0.53 | 33.0% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 35.5% |
| Gold (GLD) | 13.2% | 16.0% | 0.68 | 0.2% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 10.7% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 27.8% |
| Bitcoin (BTCUSD) | 67.3% | 66.9% | 1.06 | 9.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 14.3% | 8.1% | |
| 1/28/2026 | -7.0% | -13.3% | -15.5% |
| 10/30/2025 | -30.9% | -32.9% | -33.5% |
| 8/7/2025 | 2.2% | 7.6% | 14.3% |
| 5/8/2025 | 17.6% | 12.5% | 4.8% |
| 1/30/2025 | 4.6% | 6.6% | -2.5% |
| 10/29/2024 | 9.5% | 8.4% | 21.0% |
| 8/6/2024 | -8.6% | -2.1% | -3.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 16 | 17 | 14 |
| # Negative | 9 | 8 | 10 |
| Median Positive | 8.5% | 7.6% | 11.5% |
| Median Negative | -7.1% | -9.2% | -10.7% |
| Max Positive | 17.6% | 25.7% | 33.7% |
| Max Negative | -30.9% | -32.9% | -33.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 01/28/2026 | 10-Q |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-K |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 01/30/2025 | 10-Q |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-K |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 01/30/2024 | 10-Q |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-K |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/02/2023 | 10-Q |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-K |
Recent Forward Guidance [BETA]
Latest: Q3 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 1.93 Bil | 1.94 Bil | 1.95 Bil | 0.9% | Raised | Guidance: 1.92 Bil for 2026 | |
| 2026 Adjusted EPS | 7.95 | 8.05 | 8.15 | 1.9% | Raised | Guidance: 7.9 for 2026 | |
| 2026 Revenue Growth | 8.0% | 8.5% | 9.0% | ||||
| 2026 Adjusted EPS Growth | 19.0% | 20.5% | 22.0% | ||||
Prior: Q2 2026 Earnings Reported 1/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 1.90 Bil | 1.92 Bil | 1.94 Bil | 0 | Affirmed | Guidance: 1.92 Bil for 2026 | |
| 2026 Adjusted EPS | 7.8 | 7.9 | 8 | 1.9% | Raised | Guidance: 7.75 for 2026 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Phelan, Robert J | Chief Financial Officer | Direct | Sell | 5122026 | 126.21 | 10,000 | 1,262,064 | 7,043,074 | Form |
| 2 | Beck, Douglas G | SVP, GC, Corp. Sec & ISS | Direct | Sell | 5122026 | 127.03 | 9,615 | 1,221,381 | 4,847,288 | Form |
| 3 | Cox, Karen Sue | President, Chamberlain Univ. | Direct | Sell | 5122026 | 124.50 | 2,000 | 249,000 | 3,933,702 | Form |
| 4 | Beard,, Stephen W | Chairman & CEO | Direct | Sell | 5122026 | 131.25 | 15,874 | 2,083,509 | 56,350,020 | Form |
| 5 | Malafronte, Michael W | Michael W Malafronte 2016 Gift Trust | Buy | 3122026 | 100.94 | 8,890 | 897,341 | 2,563,326 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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