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Corteva Inc CTVA

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Stock XNYS Rating as of
$56.74 +0.29 (0.51%)
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As of Delayed Price Post-Trading: $56.85 +0.10
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Company Report

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Corteva's Growing Premium Seed and Crop Protection Products Should Drive Long-Term Margin Expansion

Seth Goldstein

Corteva is an agriculture pure play that was formed in 2019 when it was spun out of DowDuPont. The company is a global leader in seeds and crop protection products. Seeds generated around 60% of profits in 2023, with the remaining 40% coming from crop protection. Corteva develops its pipeline through the investment of around 8% of sales in research and development, which should allow sales and profits to grow from new products even as patents expire and generic products come to market.

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Price vs Fair Value

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CTVA is trading at a 785% premium.
Price
$56.45
Fair Value
$58.00
Uncertainty
Medium
1-Star Price
$12.70
5-Star Price
$46.00
Economic Moat
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Capital Allocation
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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

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Trading Information

Previous Close Price
$56.45
Day Range
$56.36–57.00
52-Week Range
$43.22–58.81
Bid/Ask
$56.65 / $57.50
Market Cap
$39.55 Bil
Volume/Avg
2.9 Mil / 3.4 Mil

Key Statistics

Price/Earnings (Normalized)
27.67
Price/Sales
2.38
Dividend Yield (Trailing)
1.12%
Dividend Yield (Forward)
1.13%
Total Yield
3.06%

Company Profile

Corteva is an agricultural inputs 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 protection products. Seeds generate the majority of profits with the remainder coming from crop protection products. Corteva operates globally, but 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
Website
https://www.corteva.com

Competitors

Valuation

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Metric
CTVA
NTR
FMC
Price/Earnings (Normalized)
 27.679.7926.95
Price/Book Value
 1.591.141.85
Price/Sales
 2.381.011.97
Price/Cash Flow
 16.226.6932.97
Price/Earnings
CTVA
NTR
FMC

Financial Strength

Metric
CTVA
NTR
FMC
Quick Ratio
 0.840.460.91
Current Ratio
 1.511.151.46
Interest Coverage
 3.142.801.24
Quick Ratio
CTVA
NTR
FMC

Profitability

Metric
CTVA
NTR
FMC
Return on Assets (Normalized)
 3.89%3.42%2.53%
Return on Equity (Normalized)
 6.72%7.31%7.88%
Return on Invested Capital (Normalized)
 5.53%5.84%6.09%
Return on Assets
CTVA
NTR
FMC
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