Covista vs Stride
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The short version
- Stride is the larger business, with $2.5B of revenue in fiscal 2026 against $2.0B for Covista.
- Covista grew revenue faster (9.3%, against 4.7%).
- Covista kept more of each dollar of sales as operating profit (19.6% operating margin, against 17.9%).
- Covista turned more of its sales into free cash flow (20.1% FCF margin, against 17.2%).
- Stride earned a higher return on the capital invested in it (31.3%, against 17.0%).
| Latest fiscal year | CVSA · FY26 | LRN · FY26 |
|---|---|---|
| Size | ||
| Market cap | $4.7B | $3.6B |
| Revenue | $2.0B | $2.5B |
| Free cash flow | $393M | $433M |
| Net income | $252M | $338M |
| Growth | ||
| Revenue growth | 9.3% | 4.7% |
| 5-year growth | 16.8% | 10.4% |
| Share count change | −6.8% | −2.2% |
| Profitability | ||
| Gross margin | 57.3% | 37.8% |
| Operating margin | 19.6% | 17.9% |
| Net margin | 12.9% | 13.4% |
| FCF margin | 20.1% | 17.2% |
| Return on capital | 17.0% | 31.3% |
| Return on equity | 17.5% | 21.7% |
| Balance sheet | ||
| Net debt | $257M | −$423M |
| Net debt / EBITDA | 0.6x | −0.7x |
| Dividends and buybacks | $240M | $189M |
| Valuation & quality | ||
| P/E | — | 11.0x |
| Piotroski F-score | 8 | 6 |
Revenue
FY17
CVSA $1.2B
LRN $889M
FY18
CVSA $960M
LRN $918M
FY19
CVSA $1.0B
LRN $1.0B
FY20
CVSA $866M
LRN $1.0B
FY21
CVSA $899M
LRN $1.5B
FY22
CVSA $1.4B
LRN $1.7B
FY23
CVSA $1.5B
LRN $1.8B
FY24
CVSA $1.6B
LRN $2.0B
FY25
CVSA $1.8B
LRN $2.4B
FY26
CVSA $2.0B
LRN $2.5B
CVSA
LRN
Operating margin
FY17
CVSA —
LRN 1.5%
FY18
CVSA —
LRN 2.8%
FY19
CVSA 15.4%
LRN 4.5%
FY20
CVSA 12.7%
LRN 3.1%
FY21
CVSA 12.3%
LRN 7.2%
FY22
CVSA 5.6%
LRN 9.3%
FY23
CVSA 11.6%
LRN 9.0%
FY24
CVSA 13.7%
LRN 12.2%
FY25
CVSA 19.1%
LRN 15.0%
FY26
CVSA 19.6%
LRN 17.9%
CVSA
LRN
Free cash flow
FY17
CVSA $188M
LRN $86.6M
FY18
CVSA $193M
LRN $96.7M
FY19
CVSA $147M
LRN $136M
FY20
CVSA $68.1M
LRN $78.7M
FY21
CVSA $152M
LRN $131M
FY22
CVSA −$20.5M
LRN $197M
FY23
CVSA $166M
LRN $199M
FY24
CVSA $247M
LRN $277M
FY25
CVSA $288M
LRN $431M
FY26
CVSA $393M
LRN $433M
CVSA
LRN
Return on capital
FY17
CVSA —
LRN —
FY18
CVSA 8.0%
LRN —
FY19
CVSA 8.5%
LRN —
FY20
CVSA 8.3%
LRN —
FY21
CVSA 6.2%
LRN —
FY22
CVSA 3.1%
LRN 13.5%
FY23
CVSA 7.9%
LRN 13.6%
FY24
CVSA 9.9%
LRN 20.5%
FY25
CVSA 14.9%
LRN 27.9%
FY26
CVSA 17.0%
LRN 31.3%
CVSA
LRN
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.