stockrowCo-Diagnostics, Inc.
CODX Healthcare Medical Devices
Co-Diagnostics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $622,500.00, down 84.1% from fiscal 2024.
- Revenue
- +1.96%
- EPS
- +78.9%
- Free cash flow
- +17.5%
Quarter to June 2026, against a year earlier
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Co-Diagnostics, Inc. (CODX) Altman Z-score
Co-Diagnostics, Inc.'s Altman Z-score for fiscal 2025 is −9.74, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −9.74 | (8.86) |
| FY2024 | −0.88 | (2.76) |
| FY2023 | 1.88 | (4.54) |
| FY2022 | 6.43 | (2.42) |
| FY2021 | 8.85 | (28.35) |
| FY2020 | 37.20 | 42.18 |
| FY2019 | −4.98 | 21.58 |
| FY2018 | −26.56 | (41.95) |
| FY2017 | 15.39 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.41 | — | 0.49 | |
| Retained earnings / total assets | (3.25) | — | −4.55 | |
| EBIT / total assets | (2.03) | — | −6.69 | |
| Market value of equity / total liabilities | 1.64 | — | 0.98 | |
| Sales / total assets | 0.03 | — | 0.03 | |
| Altman Z-score | Distress zone | −9.74 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −16.26 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| BJDX Bluejay Diagnostics, Inc. compare | −0.9× |
| ADGM Adagio Medical Holdings, Inc. compare | −7.0× |
| IVF INVO Fertility, Inc compare | −7.5× |
| CODX Co-Diagnostics, Inc. | −9.7× |
| ICCM IceCure Medical Ltd. compare | −10.0× |
| NUWE Nuwellis, Inc. compare | −76.4× |
| NUVOQ Holdco Nuvo Group D.G Ltd. compare | −81.9× |
| AMIX Autonomix Medical, Inc. compare | — |
| AIDX 20/20 Biolabs Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets