(CTEV) Claritev - NYSE
Sector: Healthcare | Industry: Health Information Services | Exchange: NYSE (USA) | Market Cap: 483m USD | Total Return: -16.8% in 12m
Avg Turnover: 3.14M
Qual. Beats: 0
Rev. Trend: -7.3%
Warnings
Negative Equity with losses - insolvent profile
High Debt/EBITDA (9.1) with thin interest coverage (0.2)
High Debt while negative Cash Flow
Interest Coverage Ratio 0.2 is critical
Altman Z'' -1.57 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Claritev Corporation, formerly MultiPlan Corporation, provides data analytics and technology-driven cost management solutions for the U.S. healthcare industry. The company specializes in payment integrity, claims intelligence, and network management services designed to reduce medical costs for payers, including insurance companies, employers, and government agencies. Its platform utilizes reference-based pricing and clinical negotiation to identify billing inaccuracies and optimize reimbursement workflows.
Operating within the healthcare technology sector, Claritev functions as a middleman between payers and providers to address the administrative complexity of the U.S. healthcare system. The business model relies on high-volume data processing, as administrative waste is estimated to account for approximately one-quarter of total U.S. healthcare spending. For deeper insights into these industry trends, ValueRay offers additional fundamental analysis. The company’s recent rebranding in February 2025 follows its 2020 public listing via a merger with a special purpose acquisition company.
- Revenue growth hinges on payer adoption of claims integrity solutions
- High debt leverage and interest expense constrain free cash flow
- Competitive pressure from internal payer analytics tools impacts market share
- Regulatory scrutiny of out-of-network reimbursement rates affects transaction volume
| Net Income: -286.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA 1.15 > 1.0 |
| NWC/Revenue: 5.38% < 20% (prev 0.47%; Δ 4.91% < -1%) |
| CFO/TA 0.02 > 3% & CFO 98.7m > Net Income -286.5m |
| Net Debt (4.72b) to EBITDA (519.0m): 9.09 < 3 |
| Current Ratio: 1.28 > 1.5 & < 3 |
| Outstanding Shares: last quarter (16.7m) vs 12m ago 2.58% < -2% |
| Gross Margin: 61.06% > 18% (prev 74.15%; Δ -13.08% > 0.5%) |
| Asset Turnover: 19.73% > 50% (prev 18.24%; Δ 1.48% > 0%) |
| Interest Coverage Ratio: 0.18 > 6 (EBIT TTM 71.1m / Interest Expense TTM 398.3m) |
| A: 0.01 (Total Current Assets 242.3m - Total Current Liabilities 189.6m) / Total Assets 4.84b |
| B: -0.52 (Retained Earnings -2.50b / Total Assets 4.84b) |
| C: 0.01 (EBIT TTM 71.1m / Avg Total Assets 4.96b) |
| D: -0.05 (Book Value of Equity -241.1m / Total Liabilities 5.07b) |
| Altman-Z'' = -1.57 = D |
| DSRI: 1.15 (Receivables 140.9m/116.6m, Revenue 978.8m/927.4m) |
| GMI: 1.21 (GM 74.15% / 61.06%) |
| AQI: 0.97 (AQ_t 0.88 / AQ_t-1 0.90) |
| SGI: 1.06 (Revenue 978.8m / 927.4m) |
| TATA: -0.08 (NI -286.5m - CFO 98.7m) / TA 4.84b) |
| Beneish M = -2.70 (Cap -4..+1) = A |
As of June 15, 2026, the stock is trading at USD 30.89 with a total of 118,693 shares traded.
Over the past week, the price has changed by +19.54%,
over one month by +12.00%,
over three months by +82.89% and
over the past year by -16.76%.
Claritev has received a consensus analysts rating of 3.50. Therefore, it is recommended to hold CTEV.
- StrongBuy: 0
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 36.8 | 19.2% |
P/E Forward = 5.0813
P/S = 0.4938
P/B = 43.8599
Revenue TTM = 978.8m USD
EBIT TTM = 71.1m USD
EBITDA TTM = 519.0m USD
Long Term Debt = 4.70b USD (from longTermDebt, last quarter)
Short Term Debt = 19.6m USD (from shortTermDebt, last quarter)
Debt = 4.74b USD (corrected: LT Debt 4.70b + ST Debt 19.6m) + Leases 20.0m
Net Debt = 4.72b USD (calculated: Debt 4.74b - CCE 21.3m)
Enterprise Value = 5.20b USD (483.3m + Debt 4.74b - CCE 21.3m)
Interest Coverage Ratio = 0.18 (Ebit TTM 71.1m / Interest Expense TTM 398.3m)
EV/FCF = -134.2x (Enterprise Value 5.20b / FCF TTM -38.8m)
FCF Yield = -0.75% (FCF TTM -38.8m / Enterprise Value 5.20b)
FCF Margin = -3.96% (FCF TTM -38.8m / Revenue TTM 978.8m)
Net Margin = -29.27% (Net Income TTM -286.5m / Revenue TTM 978.8m)
Gross Margin = 61.06% ((Revenue TTM 978.8m - Cost of Revenue TTM 381.1m) / Revenue TTM)
Gross Margin QoQ = 26.36% (prev 68.35%)
Tobins Q-Ratio = 1.07 (Enterprise Value 5.20b / Total Assets 4.84b)
Interest Expense / Debt = 8.40% (Interest Expense 398.3m / Debt 4.74b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 56.1m (EBIT 71.1m * (1 - 21.00%))
Current Ratio = 1.28 (Total Current Assets 242.3m / Total Current Liabilities 189.6m)
Debt / Equity = -19.65 (negative equity) (Debt 4.74b / totalStockholderEquity, last quarter -241.1m)
Debt / EBITDA = 9.09 (Net Debt 4.72b / EBITDA 519.0m)
Debt / FCF = -121.7 (out of range, set to none) (Net Debt 4.72b / FCF TTM -38.8m)
Total Stockholder Equity = -139.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.77% (Net Income -286.5m / Total Assets 4.84b)
RoE = 205.8% (negative equity) (Net Income TTM -286.5m / Total Stockholder Equity -139.2m)
RoCE = 1.56% (EBIT 71.1m / Capital Employed (Equity -139.2m + L.T.Debt 4.70b))
RoIC = 1.21% (NOPAT 56.1m / Invested Capital 4.65b)
WACC = 7.28% (E(483.3m)/V(5.22b) * Re(13.56%) + D(4.74b)/V(5.22b) * Rd(8.40%) * (1-Tc(0.21)))
Discount Rate = 13.56% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 73.33 | Cagr: 1.54%
[DCF] Fair Price = unknown (Cash Flow -38.8m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.44 | # QB: 0
Revenue Correlation: -7.31 | Revenue CAGR: -0.13% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.33 | Chg30d=-6.99% | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=1.58 | Chg30d=+12.06% | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=5.58 | Chg30d=+1.64% | Revisions=N/A | GrowthEPS=+144.3% | GrowthRev=+2.9%
EPS next Year (2027-12-31): EPS=6.84 | Chg30d=+0.00% | Revisions=N/A | GrowthEPS=+22.6% | GrowthRev=+4.5%