Sunday 11 October 2026
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Cadiz, Inc.
CDZI Utilities Utilities Regulated Water
Cadiz, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.3 million, up 69.8% from fiscal 2024. In the quarter to June 2026, revenue fell 76.3%, EPS fell 36.4%, free cash flow fell 66.5% and total debt rose 36.3%, each against the same quarter a year earlier. Revenue growth for ten consecutive years; insiders bought in the last twelve months.
3.42
0.10
−2.84%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Piotroski F-Score |
4 | 1 | 3 | 3 | 3 | 4 | 4 | 3 | 5 | 4 |
P/S ratio |
556.57 | 732.26 | 561.77 | 663.42 | 673.02 | 277.60 | 85.39 | 95.63 | 37.26 | 27.88 |
Altman Z-Score |
(7.64) | (8.51) | (8.91) | (8.38) | (8.40) | (6.22) | (7.05) | (7.31) | (5.30) | (5.02) |
Altman Z″-Score (non-manufacturers) |
(20.23) | (22.91) | (22.94) | (21.94) | (24.54) | (16.45) | (17.89) | (19.98) | (16.64) | (16.89) |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
(4.69) | (4.28) | (3.29) | (3.16) | (3.42) | 0.38 | — | — | (0.70) | (2.59) |
P/Operating CF |
(73.87) | (116.79) | (69.65) | (97.39) | (116.25) | (27.80) | (24.53) | (34.48) | (57.65) | (65.72) |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 0 |
P/B ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.86 | 3.75 | 4.76 | 10.54 | 19.56 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.26 | 4.50 | 5.56 | 12.68 | 25.93 |
EV/Sales |
805.74 | 1,019.27 | 875.77 | 975.49 | 836.68 | 371.90 | 124.40 | 123.89 | 44.01 | 33.53 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
(34.89) | (42.56) | (31.60) | (31.38) | (33.71) | (13.73) | (10.04) | (11.79) | (19.64) | (28.89) |
EV/FCF |
(31.86) | (38.83) | (27.68) | (28.10) | (23.63) | (5.49) | (8.50) | (9.23) | (18.82) | (20.63) |
Quick Ratio |
2.68 | 2.01 | 3.04 | 3.27 | 2.34 | 4.98 | 2.08 | 0.93 | 1.52 | 1.08 |
Current Ratio |
3.42 | 2.08 | 3.14 | 3.35 | 2.56 | 5.26 | 2.21 | 1.37 | 1.79 | 1.22 |
Net Debt/EBITDA |
(20.78) | (14.71) | (19.91) | (17.67) | (8.59) | (3.91) | (4.34) | (2.94) | (3.15) | (4.12) |
Debt/Assets |
171.14% | 208.18% | 217.46% | 199.81% | 128.87% | 58.17% | 63.04% | 56.60% | 61.05% | 71.48% |
Debt/Equity |
(2.11) | (1.76) | (1.75) | (1.87) | (3.79) | 1.61 | 2.04 | 1.52 | 2.42 | 4.33 |
Asset Turnover |
0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.08 | 0.12 |
Operating CF/Net income |
0.36 | 0.31 | 0.46 | 0.46 | 0.36 | 0.45 | 0.62 | 0.57 | 0.59 | 0.48 |
Capex/Depreciation |
0.00 | (0.24) | (0.40) | (0.38) | (3.97) | (5.85) | (1.09) | (3.25) | (0.35) | (2.36) |
Interest Coverage |
(0.62) | (0.71) | (0.73) | (0.70) | (1.02) | (1.54) | (2.00) | (4.24) | (2.95) | (2.98) |
| 47.54% | 50.92% | 31.86% | 35.08% | 70.41% | (444.09%) | (79.91%) | (98.54%) | (98.06%) | (137.15%) | |
| (43.22%) | (50.69%) | (38.69%) | (40.44%) | (50.06%) | (36.38%) | (26.78%) | (33.51%) | (29.97%) | (28.49%) | |
ROIC |
(11.91%) | (16.91%) | (13.51%) | (13.50%) | (11.62%) | (11.67%) | (11.16%) | (13.60%) | (14.71%) | (13.87%) |
Return on Tangible Assets |
(47.70%) | (64.80%) | (47.35%) | (48.20%) | (64.78%) | (37.93%) | (32.88%) | (40.88%) | (36.34%) | (39.93%) |
Average Days of Receivables |
34.55 | 30.07 | 31.52 | 40.56 | 37.11 | 174.73 | 110.40 | 165.73 | 174.22 | 125.59 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
2,264.56% | 2,929.75% | 2,591.36% | 2,758.50% | 2,202.22% | 3,129.96% | 1,022.12% | 944.10% | 253.38% | 180.74% |
Intangible Assets out of Total Assets |
0.06 | 0.06 | 0.06 | 0.05 | 0.05 | 0.03 | 0.05 | 0.05 | 0.04 | 0.04 |
Share Based Compensation of Revenue |
314.56% | 527.23% | 107.50% | 127.44% | 387.43% | 841.67% | 124.98% | 75.14% | 47.93% | 32.48% |
Graham Net Nets |
(0.46) | (0.41) | (0.58) | (0.49) | (0.25) | (0.37) | (0.50) | (0.31) | (0.21) | (0.22) |
Graham Number |
9.61 | 10.86 | 9.43 | 8.79 | 4.38 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(11.55%) | (10.56%) | (10.68%) | (10.07%) | (10.80%) | (21.76%) | (22.96%) | (19.31%) | (10.19%) | (8.56%) |
Free Cash Flow Yield |
(4.54%) | (3.59%) | (5.63%) | (5.23%) | (5.26%) | (24.39%) | (17.15%) | (14.03%) | (6.28%) | (5.83%) |
Revenue per Share |
0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.03 | 0.03 | 0.14 | 0.20 |
Operating CF per Share |
(0.51) | (0.46) | (0.51) | (0.52) | (0.39) | (0.38) | (0.37) | (0.32) | (0.31) | (0.23) |
Capex per Share |
0.00 | (0.04) | (0.07) | (0.06) | (0.17) | (0.56) | (0.07) | (0.09) | (0.01) | (0.09) |
Free Cash Flow per Share |
(0.51) | (0.51) | (0.58) | (0.58) | (0.56) | (0.94) | (0.44) | (0.41) | (0.33) | (0.33) |
Cash per Share |
0.65 | 0.58 | 0.52 | 0.59 | 0.21 | 0.30 | 0.23 | 0.07 | 0.25 | 0.11 |
Shareholders Equity per Share |
(2.90) | (3.49) | (3.59) | (3.09) | (0.74) | 1.00 | 0.69 | 0.61 | 0.49 | 0.29 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
(2.90) | (3.49) | (3.59) | (3.09) | (0.74) | 1.00 | 0.69 | 0.61 | 0.49 | 0.29 |
Free Cash Flow |
(9.51) | (11.47) | (13.92) | (15.31) | (19.16) | (38.18) | (21.97) | (26.71) | (22.47) | (26.51) |
Working Capital |
11.04 | 6.99 | 8.86 | 11.31 | 4.90 | 10.70 | 6.80 | 2.19 | 11.38 | 2.86 |
Capital Expenditures |
— | (1.01) | (1.73) | (1.60) | (5.73) | (22.91) | (3.38) | (5.79) | (0.93) | (7.58) |
Net Current Asset Value |
(105.81) | (131.73) | (142.54) | (142.72) | (91.63) | (58.67) | (64.13) | (59.39) | (74.75) | (101.61) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.00 | 2.30 | 3.92 | 3.63 | 10.59 | 40.62 | 2.25 | 2.91 | 0.10 | 0.46 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.10 | 0.09 | 0.09 | 0.08 | 0.03 | 0.05 | 0.04 | 0.02 | 0.03 | 0.03 |
Cash ROIC |
(13.09%) | (15.76%) | (18.07%) | (17.62%) | (24.62%) | (32.28%) | (19.05%) | (25.38%) | (16.85%) | (19.99%) |
Accounts Receivable Turnover |
3.65 | 11.65 | 11.89 | 10.14 | 10.40 | 3.47 | 4.15 | 2.93 | 3.50 | 3.20 |
Accounts Payable Turnover |
0.78 | 0.64 | 0.00 | 0.00 | 0.00 | 1.05 | 2.97 | 2.45 | 4.16 | 3.69 |
Inventory Turnover |
0.00 | 0.00 | — | — | — | 0.00 | 0.00 | 2.38 | 2.85 | 5.37 |
Average Days of Payables |
548.75 | 547.50 | 0.00 | 0.00 | 0.00 | 238.33 | 195.48 | 157.40 | 113.08 | 123.69 |
Days of Inventory on Hand |
0.00 | 0.00 | — | — | — | 0.00 | 55.80 | 266.26 | 151.04 | 37.21 |
Average Receivables |
0.11 | 0.04 | 0.04 | 0.04 | 0.05 | 0.16 | 0.36 | 0.68 | 2.75 | 5.10 |
Average Payables |
0.37 | 0.43 | 0.32 | 0.21 | 0.37 | 0.42 | 0.70 | 1.18 | 1.75 | 3.02 |
Average Inventory |
— | — | — | — | — | — | — | 1.21 | 2.56 | 2.08 |
Average Assets |
60.94 | 66.80 | 67.91 | 73.02 | 75.54 | 93.43 | 111.64 | 109.08 | 120.93 | 137.70 |
Average Common Equity |
(55.41) | (66.51) | (82.47) | (84.18) | (53.71) | 7.65 | 37.41 | 37.09 | 36.96 | 28.61 |
Columns are period end dates