Corteva Inc. (CTVA)
Materials · NYSE · US
Fundamentals
Valuation and ratings
Corteva Inc. trades at $86.65, which is 43% above the $49.30 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 56 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 46.3 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Corteva Inc.
Corteva, Inc. operates in the agriculture business. The company operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics. This segment also provides digital solutions that assist farmer decision-making with a view to optimize product selection, and maximize yield and profitability. The Crop Protection segment offers products that protect against weeds, insects and other pests, and diseases, as well as enhances crop health above and below ground through nitrogen management and seed-applied technologies. This segment provides herbicides, insecticides, nitrogen stabilizers, and pasture and range management herbicides. It serves agricultural input industry. The company operates in the United States, Canada, Latin America, the Asia Pacific, Europe, the Middle East, and Africa. The company was founded in 1802 and is headquartered in Indianapolis, Indiana.
CTVA passes 1 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
16 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Bill Nygren, HARRIS ASSOCIATES L P$2.79B · 1.9% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$211.39M · 0.1% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$49.23M · 0.0% of book
- Joel Greenblatt, Gotham Asset Management, LLC$48.14M · 0.1% of book
- Hardman Johnston, Hardman Johnston Global Advisors LLC$26.56M · 1.3% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Corteva Inc. (CTVA) undervalued?
Against our discounted cash flow estimate of $49.30, CTVA at $86.65 is 43% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own CTVA?
16 of the institutions we track reported a position in CTVA in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is CTVA's P/E ratio?
CTVA trades at 46.3 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for CTVA, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.