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About

Covista Inc., together with its subsidiaries, provides healthcare education in the United States, Barbados, St. Kitts, and St. Maarten. It operates in three segments: Chamberlain, Walden, and Medical and Veterinary. The company offers degree and non-degree programs, including bachelor's, master's, and doctoral degrees; and online certificate programs for nursing, health professions, medical, and veterinary postsecondary education, counseling, business, information technology, psychology, public health, social work and human services, public administration and public policy, and criminal justice. It also operates Chamberlain University, Walden University, American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine. The company was formerly known as Adtalem Global Education Inc. and changed its name to Covista Inc. in February 2026. Covista Inc. was incorporated in 1987 and is headquartered in Chicago, Illinois.

Fundamentals
Scroll to Statements
Sector Consumer Defensive Industry Education & Training Ser Market Cap 3.58B
Enterprise Value 4.11B Income 253.98M Sales 1.89B
Book/sh 39.79 Cash/sh 1.63 Dividend Yield —
Payout 0.00% Employees 4703 IPO Jun 21, 1991
P/E 14.51 Forward P/E 10.65 PEG —
P/S 1.90 P/B 2.48 P/C —
EV/EBITDA 9.58 EV/Sales 2.18 Quick Ratio 0.49
Current Ratio 0.68 Debt/Eq 52.91 LT Debt/Eq —
EPS (ttm) 6.79 EPS next Y 9.26 EPS Growth 4.70%
Revenue Growth 12.40% Earnings 2026-05-07 ROA 8.80%
ROE 18.03% ROIC — Gross Margin 57.38%
Oper. Margin 22.88% Profit Margin 13.41% Shs Outstand 34.51M
Shs Float 33.67M Short Float 6.21% Short Ratio 3.39
Short Interest — 52W High 156.26 52W Low 86.26
Beta 0.71 Avg Volume 439.22K Volume 455.99K
Target Price $172.50 Recom Strong_buy Prev Close $96.64
Price $98.54 Change 1.97%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$172.50
Mean price target
2. Current target
$98.54
Latest analyst target
3. DCF / Fair value
$158.71
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$98.54
Low
$170.00
High
$175.00
Mean
$172.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-02 main Barrington Research Outperform → Outperform $170
2026-01-29 main Barrington Research Outperform → Outperform $170
2025-10-31 main Barrington Research Outperform → Outperform $170
2025-10-15 main Barrington Research Outperform → Outperform $170
2025-09-23 main Barrington Research Outperform → Outperform $150
2025-08-08 main Barrington Research Outperform → Outperform $150
2025-07-30 main Barrington Research Outperform → Outperform $140
2025-05-12 main BMO Capital Outperform → Outperform $132
2025-05-09 main Barrington Research Outperform → Outperform $140
2025-04-23 init Jefferies — → Buy $135
2025-04-15 main Barrington Research Outperform → Outperform $120
2025-02-03 main BMO Capital Outperform → Outperform $115
2025-01-31 main Barrington Research Outperform → Outperform $120
2025-01-17 main Barrington Research Outperform → Outperform $115
2024-10-30 main BMO Capital Outperform → Outperform $90
2024-10-30 main Barrington Research Outperform → Outperform $95
2024-08-29 main Barrington Research Outperform → Outperform $90
2024-08-08 main BMO Capital Outperform → Outperform $84
2024-08-08 main Barrington Research Outperform → Outperform $90
2024-07-24 main Barrington Research Outperform → Outperform $90
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 5332 — — Stock Gift at price 0.00 per share. BEARD STEPHEN W. Chief Executive Officer — 2025-12-10 00:00:00 D
1 1445 139963 — Stock Award(Grant) at price 96.86 per share. O'KEEFE SHARON L Director — 2025-11-12 00:00:00 D
2 2075 200984 — Stock Award(Grant) at price 96.86 per share. BECK DOUGLAS G Officer — 2025-11-12 00:00:00 D
3 1445 139963 — Stock Award(Grant) at price 96.86 per share. KISER GEORGETTE D. Director — 2025-11-12 00:00:00 D
4 581 56276 — Stock Award(Grant) at price 96.86 per share. COX KAREN SUE Officer — 2025-11-12 00:00:00 D
5 1445 139963 — Stock Award(Grant) at price 96.86 per share. PHELAN KENNETH J. Director — 2025-11-12 00:00:00 D
6 1445 139963 — Stock Award(Grant) at price 96.86 per share. WARDELL LISA W. Director — 2025-11-12 00:00:00 D
7 1445 139963 — Stock Award(Grant) at price 96.86 per share. HRINAK DONNA JEAN Director — 2025-11-12 00:00:00 D
8 1445 139963 — Stock Award(Grant) at price 96.86 per share. BURKE WILLIAM W Director — 2025-11-12 00:00:00 D
9 1445 139963 — Stock Award(Grant) at price 96.86 per share. MALAFRONTE MICHAEL W Director — 2025-11-12 00:00:00 D
Financials
Line Item2025-06-302024-06-302023-06-302022-06-30
TaxEffectOfUnusualItems-495.04K-5.56M-4.75M-26.59M
TaxRateForCalcs0.220.160.090.30
NormalizedEBITDA429.55M360.88M373.16M322.09M
TotalUnusualItems-2.24M-34.72M-51.79M-88.05M
TotalUnusualItemsExcludingGoodwill-2.24M-34.72M-51.79M-88.05M
NetIncomeFromContinuingOperationNetMinorityInterest232.68M137.71M101.75M-35.95M
ReconciledDepreciation84.47M107.96M151.09M186.60M
ReconciledCostOfRevenue771.43M698.55M648.49M659.78M
EBITDA427.31M326.16M321.37M234.04M
EBIT342.85M218.20M170.28M47.45M
NetInterestIncome-44.10M-54.48M-52.50M-120.12M
InterestExpense44.33M54.26M58.25M98.94M
InterestIncome8.22M9.18M10.65M3.82M
NormalizedIncome234.42M166.88M148.79M25.50M
NetIncomeFromContinuingAndDiscontinuedOperation237.06M136.78M93.36M310.99M
TotalExpenses1.44B1.33B1.23B1.23B
TotalOperatingIncomeAsReported341.54M217.05M168.17M76.75M
DilutedAverageShares38.33M40.31M45.60M48.39M
BasicAverageShares37.09M39.41M44.78M48.39M
DilutedEPS6.183.392.056.57
BasicEPS6.393.472.086.57
DilutedNIAvailtoComStockholders237.06M136.78M93.36M310.99M
NetIncomeCommonStockholders237.06M136.78M93.36M310.99M
NetIncome237.06M136.78M93.36M310.99M
MinorityInterests0.000.00434.00K
NetIncomeIncludingNoncontrollingInterests237.06M136.78M93.36M310.99M
NetIncomeDiscontinuousOperations4.39M-936.00K-8.39M346.95M
NetIncomeContinuousOperations232.68M137.71M101.75M-35.95M
TaxProvision65.84M26.22M10.28M-15.54M
PretaxIncome298.51M163.94M112.03M-51.49M
OtherIncomeExpense-2.24M-34.72M-51.79M-86.94M
OtherNonOperatingIncomeExpenses10.54M6.96M1.11M6.73M
SpecialIncomeCharges-3.31M-36.09M-48.10M-83.53M
GainOnSaleOfPPE0.000.0013.32M0.00
OtherSpecialCharges-56.00K4.70M
RestructuringAndMergernAcquisition3.31M36.09M61.48M78.83M
GainOnSaleOfSecurity1.07M1.36M-3.69M-4.53M
NetNonOperatingInterestIncomeExpense-44.10M-54.48M-52.50M-120.12M
TotalOtherFinanceCost7.99M9.40M4.91M21.18M
InterestExpenseNonOperating44.33M54.26M58.25M98.94M
InterestIncomeNonOperating8.22M9.18M10.65M3.82M
OperatingIncome344.86M253.14M216.33M155.57M
OperatingExpense672.00M632.97M586.01M566.49M
SellingGeneralAndAdministration672.00M632.97M586.01M566.49M
GrossProfit1.02B886.10M802.34M722.07M
CostOfRevenue771.43M698.55M648.49M659.78M
TotalRevenue1.79B1.58B1.45B1.38B
OperatingRevenue1.78B1.57B1.44B1.38B
Line Item2025-06-302024-06-302023-06-302022-06-30
TreasurySharesNumber47.99M45.51M39.92M36.62M
OrdinarySharesNumber35.95M37.68M42.31M45.18M
ShareIssued83.94M83.19M82.23M81.80M
NetDebt353.07M429.41M422.88M491.94M
TotalDebt774.00M847.85M896.19M1.07B
TangibleBookValue-293.11M-368.82M-316.26M-343.45M
InvestedCapital1.99B2.02B2.15B2.33B
WorkingCapital-91.74M-69.57M49.09M133.46M
NetTangibleAssets-293.11M-368.82M-316.26M-343.45M
CapitalLeaseObligations221.33M199.14M201.11M227.83M
CommonStockEquity1.43B1.37B1.46B1.49B
TotalCapitalization1.99B2.02B2.15B2.33B
TotalEquityGrossMinorityInterest1.43B1.37B1.46B1.49B
MinorityInterest0.001.79M
StockholdersEquity1.43B1.37B1.46B1.49B
GainsLossesNotAffectingRetainedEarnings-2.23M-2.23M-2.23M-2.23M
OtherEquityAdjustments-2.23M-2.23M-2.23M-2.23M
TreasuryStock2.01B1.78B1.51B1.34B
RetainedEarnings2.78B2.54B2.40B2.31B
AdditionalPaidInCapital664.30M611.95M568.76M521.85M
CapitalStock839.00K832.00K822.00K818.00K
CommonStock839.00K832.00K822.00K818.00K
TotalLiabilitiesNetMinorityInterest1.32B1.37B1.35B1.54B
TotalNonCurrentLiabilitiesNetMinorityInterest810.80M884.62M922.00M1.12B
OtherNonCurrentLiabilities40.10M38.67M37.42M73.70M
LiabilitiesHeldforSaleNonCurrent0.0033.52M
PreferredSecuritiesOutsideStockEquity1.79M
NonCurrentDeferredLiabilities31.86M29.53M26.07M25.55M
NonCurrentDeferredTaxesLiabilities31.86M29.53M26.07M25.55M
LongTermDebtAndCapitalLeaseObligation738.84M816.42M858.52M1.02B
LongTermCapitalLeaseObligation186.17M167.71M163.44M177.04M
LongTermDebt552.67M648.71M695.08M838.91M
CurrentLiabilities507.93M487.66M431.20M423.65M
OtherCurrentLiabilities59.91M
CurrentDeferredLiabilities214.09M185.27M153.87M149.81M
CurrentDeferredRevenue214.09M185.27M153.87M149.81M
CurrentDebtAndCapitalLeaseObligation35.16M31.43M37.67M50.78M
CurrentCapitalLeaseObligation35.16M31.43M37.67M50.78M
CurrentDebt3.00M
OtherCurrentBorrowings3.00M
PayablesAndAccruedExpenses258.68M270.96M239.66M223.06M
CurrentAccruedExpenses153.66M168.33M157.85M165.92M
Payables105.02M102.63M81.81M57.14M
AccountsPayable105.02M102.63M81.81M57.14M
TotalAssets2.75B2.74B2.81B3.03B
TotalNonCurrentAssets2.34B2.32B2.33B2.47B
OtherNonCurrentAssets129.15M111.01M80.62M119.28M
NonCurrentDeferredAssets32.96M49.09M56.69M51.09M
NonCurrentDeferredTaxesAssets32.96M49.09M56.69M51.09M
GoodwillAndOtherIntangibleAssets1.73B1.74B1.77B1.83B
OtherIntangibleAssets765.47M776.69M812.34M873.58M
Goodwill961.26M961.26M961.26M961.26M
NetPPE447.32M425.28M419.33M467.92M
AccumulatedDepreciation-341.74M-326.28M-338.63M-376.33M
GrossPPE789.07M751.56M757.96M844.25M
Leases120.60M114.02M99.78M
ConstructionInProgress24.98M11.55M23.39M11.19M
OtherProperties191.19M176.75M174.68M446.35M
MachineryFurnitureEquipment218.27M217.18M217.81M
BuildingsAndImprovements202.24M200.27M206.35M342.24M
LandAndImprovements31.78M31.78M35.96M44.48M
Properties0.000.000.000.00
CurrentAssets416.19M418.08M480.30M557.10M
OtherCurrentAssets68.84M70.05M102.47M127.53M
AssetsHeldForSaleCurrent0.0048.31M
RestrictedCash1.56M1.90M2.88M964.00K
PrepaidAssets126.47M128.22M
Receivables146.19M126.83M102.75M81.64M
AccountsReceivable146.19M126.83M102.75M81.64M
AllowanceForDoubtfulAccountsReceivable-49.08M-37.81M-31.33M-34.36M
GrossAccountsReceivable195.27M164.65M134.07M116.00M
CashCashEquivalentsAndShortTermInvestments199.60M219.31M272.19M346.97M
CashAndCashEquivalents199.60M219.31M272.19M346.97M
Line Item2025-06-302024-06-302023-06-302022-06-30
FreeCashFlow287.57M246.88M165.90M-20.45M
RepurchaseOfCapitalStock-213.12M-261.97M-123.13M-120.00M
RepaymentOfDebt-109.87M-51.90M-150.86M-1.08B
IssuanceOfDebt9.87M1.90M0.00850.00M
CapitalExpenditure-50.33M-48.89M-26.01M-31.05M
InterestPaidSupplementalData46.60M57.84M53.13M107.09M
IncomeTaxPaidSupplementalData32.78M31.48M12.31M94.36M
EndCashPosition201.16M221.20M275.07M347.94M
OtherCashAdjustmentOutsideChangeinCash0.000.00-18.24M
BeginningCashPosition221.20M275.07M347.94M1.31B
EffectOfExchangeRateChanges0.000.00534.00K
ChangesInCash-20.04M-53.87M-72.86M-965.68M
FinancingCashFlow-316.02M-301.80M-288.51M-424.48M
CashFromDiscontinuedFinancingActivities0.000.00
CashFlowFromContinuingFinancingActivities-316.02M-301.80M-288.51M-424.48M
NetOtherFinancingCharges-14.20M-7.73M-17.75M-84.18M
ProceedsFromStockOptionExercised11.31M17.90M3.23M9.41M
NetCommonStockIssuance-213.12M-261.97M-123.13M-120.00M
CommonStockPayments-213.12M-261.97M-123.13M-120.00M
NetIssuancePaymentsOfDebt-100.00M-50.00M-150.86M-229.71M
NetLongTermDebtIssuance-100.00M-50.00M-150.86M-229.71M
LongTermDebtPayments-109.87M-51.90M-150.86M-1.08B
LongTermDebtIssuance9.87M1.90M0.00850.00M
InvestingCashFlow-41.92M-47.85M23.74M-551.80M
CashFromDiscontinuedInvestingActivities0.000.00-3.17M957.48M
CashFlowFromContinuingInvestingActivities-41.92M-47.85M26.91M-1.51B
NetOtherInvestingChanges7.33M46.80M10.00M
NetInvestmentPurchaseAndSale1.07M1.04M6.13M-177.00K
SaleOfInvestment3.12M1.73M7.63M3.45M
PurchaseOfInvestment-2.05M-689.00K-1.51M-3.62M
NetBusinessPurchaseAndSale0.000.00-1.49B0.00
PurchaseOfBusiness0.000.00-1.49B0.00
CapitalExpenditureReported-50.33M-48.89M-26.01M-31.05M
OperatingCashFlow337.90M295.77M191.91M10.60M
CashFromDiscontinuedOperatingActivities4.17M7.41M-2.78M-153.40M
CashFlowFromContinuingOperatingActivities333.73M288.37M194.69M164.00M
ChangeInWorkingCapital-114.58M-52.91M-103.79M-83.20M
ChangeInOtherWorkingCapital28.98M30.89M6.96M54.31M
ChangeInOtherCurrentLiabilities-24.79M-36.69M-59.19M-49.15M
ChangeInOtherCurrentAssets-32.82M-27.15M-13.87M
ChangeInPayablesAndAccruedExpense-10.66M65.17M9.30M-44.15M
ChangeInAccruedExpense-10.80M46.84M-15.44M-28.42M
ChangeInPayable140.00K18.33M24.74M-15.72M
ChangeInAccountPayable140.00K18.33M24.74M-15.72M
ChangeInPrepaidAssets5.55M-8.78M9.32M-2.83M
ChangeInReceivables-80.82M-76.36M-56.31M-41.39M
ChangesInAccountReceivables-76.36M-37.61M-41.39M15.44M
OtherNonCashItems5.99M5.66M9.13M42.65M
StockBasedCompensation41.59M25.95M14.30M22.61M
ProvisionandWriteOffofAssets63.24M53.17M33.00M27.14M
AssetImpairmentCharge1.21M
DeferredTax18.41M11.07M-5.09M-544.00K
DeferredIncomeTax18.41M11.07M-5.09M-544.00K
DepreciationAmortizationDepletion84.47M107.96M151.09M186.60M
DepreciationAndAmortization84.47M107.96M151.09M186.60M
AmortizationCashFlow11.22M35.64M61.24M97.27M
AmortizationOfIntangibles11.22M35.64M61.24M97.27M
Depreciation73.25M72.32M89.85M89.32M
OperatingGainsLosses1.94M-252.00K-5.70M4.70M
GainLossOnInvestmentSecurities-1.07M-1.36M3.69M3.27M
GainLossOnSaleOfPPE2.53M466.00K4.00M3.50M
NetIncomeFromContinuingOperations232.68M137.71M101.75M-35.95M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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