Saturday 10 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 '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
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 | 5 | 3 | 4 | 4 | 3 | 3 | 3 | 1 | 4 |
P/S ratio |
27.88 | 37.26 | 95.63 | 85.39 | 277.60 | 673.02 | 663.42 | 561.77 | 732.26 | 556.57 |
Altman Z-Score |
(5.02) | (5.30) | (7.31) | (7.05) | (6.22) | (8.40) | (8.38) | (8.91) | (8.51) | (7.64) |
Altman Z″-Score (non-manufacturers) |
(16.89) | (16.64) | (19.98) | (17.89) | (16.45) | (24.54) | (21.94) | (22.94) | (22.91) | (20.23) |
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 |
(2.59) | (0.70) | — | — | 0.38 | (3.42) | (3.16) | (3.29) | (4.28) | (4.69) |
P/Operating CF |
(65.72) | (57.65) | (34.48) | (24.53) | (27.80) | (116.25) | (97.39) | (69.65) | (116.79) | (73.87) |
Dividend Safety Score |
0 | — | — | — | — | — | — | — | — | — |
P/B ratio |
19.56 | 10.54 | 4.76 | 3.75 | 3.86 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Price to Tangible BV |
25.93 | 12.68 | 5.56 | 4.50 | 4.26 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
33.53 | 44.01 | 123.89 | 124.40 | 371.90 | 836.68 | 975.49 | 875.77 | 1,019.27 | 805.74 |
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 |
(28.89) | (19.64) | (11.79) | (10.04) | (13.73) | (33.71) | (31.38) | (31.60) | (42.56) | (34.89) |
EV/FCF |
(20.63) | (18.82) | (9.23) | (8.50) | (5.49) | (23.63) | (28.10) | (27.68) | (38.83) | (31.86) |
Quick Ratio |
1.08 | 1.52 | 0.93 | 2.08 | 4.98 | 2.34 | 3.27 | 3.04 | 2.01 | 2.68 |
Current Ratio |
1.22 | 1.79 | 1.37 | 2.21 | 5.26 | 2.56 | 3.35 | 3.14 | 2.08 | 3.42 |
Net Debt/EBITDA |
(4.12) | (3.15) | (2.94) | (4.34) | (3.91) | (8.59) | (17.67) | (19.91) | (14.71) | (20.78) |
Debt/Assets |
71.48% | 61.05% | 56.60% | 63.04% | 58.17% | 128.87% | 199.81% | 217.46% | 208.18% | 171.14% |
Debt/Equity |
4.33 | 2.42 | 1.52 | 2.04 | 1.61 | (3.79) | (1.87) | (1.75) | (1.76) | (2.11) |
Asset Turnover |
0.12 | 0.08 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
Operating CF/Net income |
0.48 | 0.59 | 0.57 | 0.62 | 0.45 | 0.36 | 0.46 | 0.46 | 0.31 | 0.36 |
Capex/Depreciation |
(2.36) | (0.35) | (3.25) | (1.09) | (5.85) | (3.97) | (0.38) | (0.40) | (0.24) | 0.00 |
Interest Coverage |
(2.98) | (2.95) | (4.24) | (2.00) | (1.54) | (1.02) | (0.70) | (0.73) | (0.71) | (0.62) |
| (137.15%) | (98.06%) | (98.54%) | (79.91%) | (444.09%) | 70.41% | 35.08% | 31.86% | 50.92% | 47.54% | |
| (28.49%) | (29.97%) | (33.51%) | (26.78%) | (36.38%) | (50.06%) | (40.44%) | (38.69%) | (50.69%) | (43.22%) | |
ROIC |
(13.87%) | (14.71%) | (13.60%) | (11.16%) | (11.67%) | (11.62%) | (13.50%) | (13.51%) | (16.91%) | (11.91%) |
Return on Tangible Assets |
(39.93%) | (36.34%) | (40.88%) | (32.88%) | (37.93%) | (64.78%) | (48.20%) | (47.35%) | (64.80%) | (47.70%) |
Average Days of Receivables |
125.59 | 174.22 | 165.73 | 110.40 | 174.73 | 37.11 | 40.56 | 31.52 | 30.07 | 34.55 |
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 |
180.74% | 253.38% | 944.10% | 1,022.12% | 3,129.96% | 2,202.22% | 2,758.50% | 2,591.36% | 2,929.75% | 2,264.56% |
Intangible Assets out of Total Assets |
0.04 | 0.04 | 0.05 | 0.05 | 0.03 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 |
Share Based Compensation of Revenue |
32.48% | 47.93% | 75.14% | 124.98% | 841.67% | 387.43% | 127.44% | 107.50% | 527.23% | 314.56% |
Graham Net Nets |
(0.22) | (0.21) | (0.31) | (0.50) | (0.37) | (0.25) | (0.49) | (0.58) | (0.41) | (0.46) |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.38 | 8.79 | 9.43 | 10.86 | 9.61 |
Earnings Yield |
(8.56%) | (10.19%) | (19.31%) | (22.96%) | (21.76%) | (10.80%) | (10.07%) | (10.68%) | (10.56%) | (11.55%) |
Free Cash Flow Yield |
(5.83%) | (6.28%) | (14.03%) | (17.15%) | (24.39%) | (5.26%) | (5.23%) | (5.63%) | (3.59%) | (4.54%) |
Revenue per Share |
0.20 | 0.14 | 0.03 | 0.03 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
Operating CF per Share |
(0.23) | (0.31) | (0.32) | (0.37) | (0.38) | (0.39) | (0.52) | (0.51) | (0.46) | (0.51) |
Capex per Share |
(0.09) | (0.01) | (0.09) | (0.07) | (0.56) | (0.17) | (0.06) | (0.07) | (0.04) | 0.00 |
Free Cash Flow per Share |
(0.33) | (0.33) | (0.41) | (0.44) | (0.94) | (0.56) | (0.58) | (0.58) | (0.51) | (0.51) |
Cash per Share |
0.11 | 0.25 | 0.07 | 0.23 | 0.30 | 0.21 | 0.59 | 0.52 | 0.58 | 0.65 |
Shareholders Equity per Share |
0.29 | 0.49 | 0.61 | 0.69 | 1.00 | (0.74) | (3.09) | (3.59) | (3.49) | (2.90) |
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 |
0.29 | 0.49 | 0.61 | 0.69 | 1.00 | (0.74) | (3.09) | (3.59) | (3.49) | (2.90) |
Free Cash Flow |
(26.51) | (22.47) | (26.71) | (21.97) | (38.18) | (19.16) | (15.31) | (13.92) | (11.47) | (9.51) |
Working Capital |
2.86 | 11.38 | 2.19 | 6.80 | 10.70 | 4.90 | 11.31 | 8.86 | 6.99 | 11.04 |
Capital Expenditures |
(7.58) | (0.93) | (5.79) | (3.38) | (22.91) | (5.73) | (1.60) | (1.73) | (1.01) | — |
Net Current Asset Value |
(101.61) | (74.75) | (59.39) | (64.13) | (58.67) | (91.63) | (142.72) | (142.54) | (131.73) | (105.81) |
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 |
0.46 | 0.10 | 2.91 | 2.25 | 40.62 | 10.59 | 3.63 | 3.92 | 2.30 | 0.00 |
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 |
0.03 | 0.03 | 0.02 | 0.04 | 0.05 | 0.03 | 0.08 | 0.09 | 0.09 | 0.10 |
Cash ROIC |
(19.99%) | (16.85%) | (25.38%) | (19.05%) | (32.28%) | (24.62%) | (17.62%) | (18.07%) | (15.76%) | (13.09%) |
Accounts Receivable Turnover |
3.20 | 3.50 | 2.93 | 4.15 | 3.47 | 10.40 | 10.14 | 11.89 | 11.65 | 3.65 |
Accounts Payable Turnover |
3.69 | 4.16 | 2.45 | 2.97 | 1.05 | 0.00 | 0.00 | 0.00 | 0.64 | 0.78 |
Inventory Turnover |
5.37 | 2.85 | 2.38 | 0.00 | 0.00 | — | — | — | 0.00 | 0.00 |
Average Days of Payables |
123.69 | 113.08 | 157.40 | 195.48 | 238.33 | 0.00 | 0.00 | 0.00 | 547.50 | 548.75 |
Days of Inventory on Hand |
37.21 | 151.04 | 266.26 | 55.80 | 0.00 | — | — | — | 0.00 | 0.00 |
Average Receivables |
5.10 | 2.75 | 0.68 | 0.36 | 0.16 | 0.05 | 0.04 | 0.04 | 0.04 | 0.11 |
Average Payables |
3.02 | 1.75 | 1.18 | 0.70 | 0.42 | 0.37 | 0.21 | 0.32 | 0.43 | 0.37 |
Average Inventory |
2.08 | 2.56 | 1.21 | — | — | — | — | — | — | — |
Average Assets |
137.70 | 120.93 | 109.08 | 111.64 | 93.43 | 75.54 | 73.02 | 67.91 | 66.80 | 60.94 |
Average Common Equity |
28.61 | 36.96 | 37.09 | 37.41 | 7.65 | (53.71) | (84.18) | (82.47) | (66.51) | (55.41) |
Columns are period end dates