Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a loss-making company: Sales comps and Analyst consensus.
ACCE opinionCiveo Corporation (Canada) Common Shares (CVEO)
Fair value (3 models)
Not available
ACCE price target
$32.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Price used: $27.95 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus and Sales comps.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
45
out of 100
Analysts
100% buy
4 covering
P/E
0.0x
forward 74.6x
1-year return
+20.1%
Dividend yield
0.00%
Civeo Corporation (Canada) Common Shares in four questions
Plain answers, details below
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Overview
ACCE thesis
Civeo runs purpose-built workforce accommodation camps for resource-sector crews, with its own catering, housekeeping and village operations serving oil sands, mining and LNG sites, mainly in Canada and Australia. The moat is operational rather than structural: remote camps are costly to build and staff, and long-term contracts with energy and mining customers keep the asset base full through commodity cycles. Revenue grew 10.6% and the company is only just scraping profitability, with a 2.8% operating margin and a 23.7% gross margin, so any recovery in utilisation or rates would show up quickly in earnings. The stock trades at a forward P/E near 98, which prices in a lot of that recovery, and ROE is still negative at -7.2%, so the case rests on margin repair rather than on what the business earns today. At a $318M market cap with no index membership, it is a small, illiquid name that merits a deeper look only if the reader already has a view on Canadian and Australian resource capex.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
high
Heavy insider selling
Insiders sold $12.54M across the last 10 disclosed transactions and bought nothing, a clear one-directional signal from people closest to the business.
high
Elevated short interest
Short interest stands at 15.4% of shares, a high level that points to meaningful bearish conviction among professional investors.
moderate
Thin free cash flow
Free cash flow of $2M against a $303M market cap leaves little cushion, with debt/equity at 1.11 and return on equity at -7.2%.
moderate
Score down 11 points
The ACCE score fell from 62 to 51 over 90 days, with valuation at 40 and quality at 26 pulling it down most.
AI research notes
AI-assisted·How I use AIWritten Oct 19, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 10.6% year over year, well ahead of its 3.8% average annual pace over five years.
Four of four analysts rate the shares Buy or Strong Buy, and their mean price target sits 41.8% above the current price.
The company beat earnings expectations last quarter, reporting a loss of $0.23 per share against $0.30 expected.
Why it could disappoint
Free cash flow over the last twelve months was only $2M, a 0.7% yield at today's price.
The company lost money, with a net margin of -1.9% and a return on equity of -7.2%.
Shares trade at 98.0x forward earnings and sit 12.7% below the ACCE price target of $32.00, a valuation that leaves little room for error.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Oct 30, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where CVEO's valuation models land
Price
$27.95
Model fair valueConfidence: low
about $43.45
Model
Fair value
Upside
Analyst consensus
Sales comps
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
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+Conviction breakdown and growth / value / quality / momentum scores