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Corteva Inc CTVA

Morningstar Rating
$53.66 +0.14 (0.26%)
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Company Report

Corteva Earnings: End of Inventory Destocking in Crop Protection Should Result in Profit Growth

Corteva's fourth-quarter results and management's outlook for 2024 and 2025 were in line with our near- and long-term outlook for the company. Our thesis had been that the inventory destocking in crop protection would prove temporary and Corteva's differentiated portfolio, which underpins our wide moat rating, would drive long-term growth through improved pricing and profit margin expansion.

Price vs Fair Value

CTVA is trading within a range we consider fairly valued.
Price
$53.66
Fair Value
$41.00
Uncertainty
Medium
1-Star Price
$85.10
5-Star Price
$88.00
Economic Moat
Dcbp
Capital Allocation
Mywvgsks

Bulls Say, Bears Say

Bulls

Corteva's profits will see a boost from the expiration of a $1 billion annual royalty payment to Bayer in 2023.

Bears

Negative sentiment around genetically modified seeds could diminish Corteva's ability to penetrate new markets.

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News

Trading Information

Previous Close Price
$53.52
Day Range
$53.4954.34
52-Week Range
$43.2264.04
Bid/Ask
$53.40 / $54.50
Market Cap
$37.66 Bil
Volume/Avg
3.8 Mil / 4.5 Mil

Key Statistics

Price/Earnings (Normalized)
21.13
Price/Sales
2.22
Dividend Yield (Trailing)
1.17%
Dividend Yield (Forward)
1.19%
Total Yield
3.18%

Company Profile

Corteva is an agriculture pure play that was formed in 2019 when it was spun off from DowDuPont. The company is a leader in the development of new seed and crop chemicals products. Seeds generate a little over half of profits with the remainder coming from crop protection chemicals. Although Corteva operates globally, around half of revenue comes from North America.
Sector
Basic Materials
Industry
Agricultural Inputs
Stock Style Box
Mid Core
Total Number of Employees
22,500

Competitors

Valuation

Metric
CTVA
NTR
FMC
Price/Earnings (Normalized)
21.138.8615.16
Price/Book Value
1.501.031.62
Price/Sales
2.220.891.60
Price/Cash Flow
14.725.6914.31
Price/Earnings
CTVA
NTR
FMC

Financial Strength

Metric
CTVA
NTR
FMC
Quick Ratio
0.790.520.96
Current Ratio
1.561.171.52
Interest Coverage
4.483.512.27
Quick Ratio
CTVA
NTR
FMC

Profitability

Metric
CTVA
NTR
FMC
Return on Assets (Normalized)
4.38%4.08%4.11%
Return on Equity (Normalized)
7.51%8.70%13.25%
Return on Invested Capital (Normalized)
6.29%6.88%8.58%
Return on Assets
CTVA
NTR
FMC
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Economic Moat
Market Cap
NTR
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CF
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MOS
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YARIY
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YRAIF
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FMC
FMC CorpXpwsbd$7.2 Bil
SMG
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KPLUF
K+S AGZjt$2.6 Bil
KPLUY
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