Coveo Solutions Inc (CVO) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Coveo Solutions Inc stock C$3.67, price C$4.65, that is 21.1% below the price, quality 61 out of 100. Rating: overvalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range C$3.74 – C$17.41 · fair‑value band C$2.81 – C$4.80 · the C$4.65 price screens above the C$3.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Coveo Solutions Inc. provides software-as-a-service artificial intelligence (AI) platform in Canada, the United States, and internationally.
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The company offers Coveo AI-Relevance Platform that powers search, recommendations, and generative answering in digital experiences across commerce, service, website, and workplace applications.
Its AI-Relevance platform includes Coveo Relevance Generative Answering (CRGA) capability integrates large language models technology with Coveo's platform to feed generative AI with a common, secure unified index, and real-time content.
The company serves high tech, healthcare, manufacturing, financial services, retail, and telecommunication industries. The company was formerly known as Copernic Business Solutions Inc. and changed its name to Coveo Solutions Inc. in October 2004.
Coveo Solutions Inc. was incorporated in 2004 and is headquartered in Québec, Canada.
Stock analysis
Coveo Solutions Inc (CVO) currently trades at C$4.65, while our model-based Fair Value estimate is C$3.67, 21% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of C$3.85 per share, and 0 of the 7 models we run sit above the C$4.65 price.
Bear case: the Asset-Based group reads lowest at C$0.4700, and 7 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: C$2.81 (bear) to C$4.80 (bull), the price of C$4.65 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Coveo Solutions Inc reported revenue of $148M in FY2026 versus $86.5M in FY2022, a compound +14.4%/yr. Reported net income was −$28.9M in FY2026.
Key figures
Market cap C$443M (≈ $314M) Small · P/S ratio 2.67 · EPS (TTM) C$−0.2800 · Net margin −19.5% · Return on equity −20.0% · Return on assets (EBIT) −13.2% (5-year average) · Operating margin −7.4% · Revenue (TTM) $154M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 16 out of 100 (low confidence).
What moves the price
The share trades about 37% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −21%, CVO screens richer than that median.
Fair Value models
BearC$2.81Fair Value C$3.67BullC$4.80
Price C$4.65 · Downside -21.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+11.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.0%
Start year 2021 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.8%
’19
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−31.7% (2021) → −18.5% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+19.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +16.4% a year for the price and +7.8% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 345 stocks
Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−21.1% · Below median
Profitability
Return on assets−13.6% · Bottom 25%
Net margin (12 months)−11.9% · Bottom 25%
Operating margin (12 months)−7.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)8.3% · Below median
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
P/B3.41× · Pricier than median
P/S (12 months)2.03× · Cheaper than median
Price / free cash flow (fiscal year)32.8× · Pricier than median
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Is Coveo Solutions Inc (CVO) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of C$3.67 versus a price of C$4.65, about 21% lower (overvalued).
What is the fair value of CVO?
Our model-based fair value for Coveo Solutions Inc is C$3.67 (as of Nov 4, 2026), built from audited fundamentals. The current price: C$4.65.
What is the quality score of CVO?
Coveo Solutions Inc has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Coveo Solutions Inc (CVO)?
Our model-based price target is the fair value of C$3.67 (as of Nov 4, 2026) from 7 valuation models. Cautious scenario C$2.81, optimistic scenario C$4.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Coveo Solutions Inc stock forecast for 2026?
Our models put fair value at C$3.67, about 21% lower versus a price of C$4.65 (overvalued). Cautious scenario C$2.81, optimistic scenario C$4.80. The calculation is refreshed regularly with new filings.
What is the revenue of Coveo Solutions Inc (CVO)?
Coveo Solutions Inc reported trailing-twelve-month revenue of about $154M (latest available figure, as of Nov 4, 2026).
What growth is priced into Coveo Solutions Inc (CVO)?
For today's price to be fair in a discounted-cash-flow model, Coveo Solutions Inc would have to grow free cash flow by +19.1 % per year for five years (discount rate 12.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.0 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of CVO use?
Our models discount Coveo Solutions Inc at 12.9 %: a base by market capitalisation (micro), damped by beta 1.14, country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Coveo Solutions Inc that is +19.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.9 %) and the same formula as our fair value.
How much growth has Coveo Solutions Inc (CVO) delivered so far?
Over the past 5 years revenue at Coveo Solutions Inc grew +18.0 % a year. The price currently implies free-cash-flow growth of +19.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Coveo Solutions Inc (CVO) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Coveo Solutions Inc (+19.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Coveo Solutions Inc (CVO)?
The free-cash-flow yield on the price is 3.05 %: that much free cash flow Coveo Solutions Inc produces per unit of market value. When it exceeds the discount rate of our models (12.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Coveo Solutions Inc (CVO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Coveo Solutions Inc it is C$3.67 per share (as of Nov 4, 2026), against a price of C$4.65. It is the blended result of 7 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Coveo Solutions Inc stock overvalued or undervalued in 2026?
As of Nov 4, 2026, CVO trades above its calculated fair value: price C$4.65, fair value C$3.67, a gap of about −21% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CVO?
No. The price is what the market pays today (C$4.65); the fair value is what the company's own numbers justify (C$3.67). For Coveo Solutions Inc the two are C$0.9800 per share apart. That gap is exactly why we show both numbers side by side.
How much is Coveo Solutions Inc worth?
The market values Coveo Solutions Inc at about C$443M (market capitalisation, as of Nov 4, 2026). Per share that is C$4.65; our models calculate a fair value of C$3.67 per share.
What do the bullish and bearish scenarios say about CVO?
Our models span a range for Coveo Solutions Inc: cautious scenario C$2.81, base C$3.67, optimistic C$4.80 per share (as of Nov 4, 2026, price C$4.65). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Coveo Solutions Inc (CVO)?
Balance-sheet figures for Coveo Solutions Inc (as of Nov 4, 2026): return on equity −20.0%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is CVO from its 52-week high?
Coveo Solutions Inc trades at C$4.65, about 37% below its 52-week high of C$7.41 and 24% above the low of C$3.74 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$3.67 is for.
Which stocks are comparable to Coveo Solutions Inc?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Coveo Solutions Inc stock attractive at the current price?
The data as of Nov 4, 2026: price C$4.65, calculated fair value C$3.67 (−21%), Quality Score 61/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CVO calculated?
We run Coveo Solutions Inc through 7 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of C$3.67 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Coveo Solutions Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Coveo Solutions Inc (CVO)?
The closing price on Nov 6, 2026 was C$4.65. Our model-based fair value is C$3.67, about 21% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Coveo Solutions Inc right now?
Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Coveo Solutions Inc
How large is the market capitalisation of Coveo Solutions Inc (CVO)?
The market capitalisation of Coveo Solutions Inc is C$443M (≈ $314M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Coveo Solutions Inc (CVO)?
The price-to-sales ratio of Coveo Solutions Inc is 2.67 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Coveo Solutions Inc (CVO)?
Earnings per share at Coveo Solutions Inc are C$−0.2800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Coveo Solutions Inc (CVO)?
The net margin of Coveo Solutions Inc is −19.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Coveo Solutions Inc (CVO)?
The return on equity (ROE) of Coveo Solutions Inc is −20.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Coveo Solutions Inc (CVO)?
On an EBIT basis the return on assets of Coveo Solutions Inc is −13.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Coveo Solutions Inc (CVO)?
The operating margin of Coveo Solutions Inc is −7.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Coveo Solutions Inc (CVO)?
Revenue at Coveo Solutions Inc is growing +8.3% versus a year earlier (3y avg +9.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net cash does Coveo Solutions Inc (CVO) hold?
Coveo Solutions Inc holds more cash than debt, $86.7M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Nov 4, 2026