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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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.8B | $427M | $237M | $288M | 16.5% | 12.9% | 73.3% |
| 2024 | $1.6B | $326M | $137M | $247M | 10.0% | 9.2% | 46.5% |
| 2023 | $1.5B | $321M | $93M | $166M | 6.4% | 5.0% | -70.0% |
| 2022 | $1.4B | $234M | $311M | $-20M | 20.9% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,381.84 | 1,450.83 | 1,584.65 | 1,788.29 |
| Cost Of Revenue | - | 659.78 | 648.49 | 698.55 | 771.43 |
| Gross Profit | - | 722.07 | 802.34 | 886.10 | 1,016.86 |
| Operating Expense | - | 566.49 | 586.01 | 632.96 | 672 |
| Operating Income | - | 155.57 | 216.33 | 253.14 | 344.86 |
| EBITDA | - | 234.04 | 321.37 | 326.16 | 427.31 |
| EBIT | - | 47.45 | 170.28 | 218.20 | 342.84 |
| Pretax Income | - | -51.49 | 112.04 | 163.94 | 298.51 |
| Tax Provision | - | -15.54 | 10.28 | 26.22 | 65.84 |
| Net Income | - | 310.99 | 93.36 | 136.78 | 237.06 |
| Net Income Common Stockholders | - | 310.99 | 93.36 | 136.78 | 237.06 |
| Total Expenses | - | 1,226.27 | 1,234.49 | 1,331.51 | 1,443.43 |
| Interest Expense | - | 98.94 | 58.25 | 54.26 | 44.33 |
| Interest Income | - | 3.82 | 10.65 | 9.18 | 8.22 |
| Selling General And Administration | - | 566.49 | 586.01 | 632.96 | 672 |
| Normalized EBITDA | - | 322.09 | 373.16 | 360.88 | 429.55 |
| Normalized Income | - | 25.50 | 148.79 | 166.88 | 234.42 |
| Market Cap | 3,714.15 | 3,714.15 | 3,714.15 | 3,714.15 | 3,714.15 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Covista Inc.this co. | CVSA | $4.0B | 15.67 | 2.59 | 16.5% | 10.04 |
| PriceSmart, Inc. | PSMT | $4.9B | 33.66 | 3.99 | 11.9% | 16.54 |
| Laureate Education, Inc. | LAUR | $4.6B | 15.71 | 3.72 | 23.7% | 9.17 |
| Stride, Inc. | LRN | $4.2B | 14.51 | 2.82 | 19.5% | 7.76 |
| Cal-Maine Foods, Inc. | CALM | $3.7B | 2.96 | 1.41 |
| - |
| - |
| - |
| - |
| 47.6% |
| - |
| Freshpet, Inc. | FRPT | $3.2B | 23.32 | 2.68 | 11.5% | 19.83 |
| National Beverage Corp. | FIZZ | $3.2B | 17.14 | 7.21 | 42.1% | 12.02 |
| Interparfums, Inc. | IPAR | $2.9B | 17.37 | 3.32 | 19.1% | 9.79 |
| The Vita Coco Company, Inc. | COCO | $2.9B | 40.33 | 8.68 | 21.5% | 32.23 |
| Peer Median | - | 17.25 | 3.52 | 20.5% | 12.02 | |