Saturday 17 October 2026 Export CYAN’s income statement to Excel — free account

Cyanotech Corporation

Cyanotech Corporation’s revenue for fiscal 2026 (year ended March 2026) was $26.6 million, up 9.80% from fiscal 2025. In the quarter to June 2026, revenue grew 11.1%, EPS grew 144.1%, free cash flow grew 204.0% and total debt rose 7.77%, each against the same quarter a year earlier.

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Market cap: $1.7M
P/E: 0.0×
Fwd P/E: 2.4×
Dividend yield: —
F-score: 5/9
Altman Z: −0.52
Beneish M: −2.37
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 52.14%

Capital & Financial Ratios $m

Market Cap 1.65

Revenue 27.23

Net Income (0.07)

Free Cash Flow 0.70

Net Debt 7.06

Current Ratio 1.06

Debt/Equity 1.02

P/E ratio 0.00

Fwd P/E 2.40

P/S ratio 0.19

P/B ratio 0.64

Past 5Y EPS Growth —

This Y EPS Growth —

Next Y EPS Growth —

Next Y revenue growth 116.17%

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 22.38%

10-year low 10-year high

P/B against its own 10 years 36.28%

10-year low 10-year high

EV/Sales against its own 10 years 25.04%

10-year low 10-year high

EV/FCF against its own 10 years 36.31%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2024	2025	2026	Q'26
Cash	1	0	1	1
Receivables	2	2	3	2
Inventory	7	8	6	7
Other	—	—	—	—
	11	11	11	11

	2024	2025	2026	Q'26
Payables	1	2	2	1
ST’ Debt	4	6	7	7
Other	0	0	0	0
	9	10	11	10

Compound Annual Growth %

	10y	5y	3y
Sales	(1.79%)	(3.84%)	4.68%
Cash Flow	(10.94%)	(37.22%)	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	(8.10%)	(14.78%)	(22.33%)

Revenue $m

	Jun	Sep	Dec	Mar	Year
’26	6	—	—	—	—
’26	6	7	6	8	27
’25	6	6	6	6	24
’24	5	6	6	6	23
’23	7	5	6	5	23
’22	9	9	9	8	36
’21	7	9	7	9	32

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	0	—	—	—	—
’26	0	0	0	1	0
’25	0	0	(1)	0	(1)
’24	(1)	1	(1)	0	0
’23	(1)	(1)	0	1	(2)
’22	(2)	2	1	1	2
’21	0	1	0	1	2

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	0	—	—	—	—
’26	0	0	0	0	0
’25	0	(1)	(1)	0	(1)
’24	(1)	1	(1)	0	(1)
’23	(2)	(1)	(1)	1	(3)
’22	(2)	2	1	1	1
’21	0	1	(1)	1	2

Fiscal quarters ending in the months shown.

EPS $

	Jun	Sep	Dec	Mar	Year
’26	0.04	—	—	—	—
’26	(0.13)	0.00	—	(0.05)	(0.18)
’25	(0.17)	(0.16)	(0.03)	(0.09)	(0.45)
’24	(0.22)	(0.13)	(0.16)	(0.30)	(0.81)
’23	(0.08)	(0.15)	(0.10)	(0.23)	(0.55)
’22	0.08	0.15	0.06	0.04	0.35
’21	0.02	0.03	0.13	(0.03)	0.15

Fiscal quarters ending in the months shown.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	3.25	3.02	2.01	1.82	2.69	0.90	0.61	0.12	0.21	0.23	Analyst estimates 2027–2029 Powerpack
	High	5.35	5.78	4.07	3.45	6.29	3.62	1.70	0.96	0.57	0.78
People
People	Employees	124	118	109	95	93	95	86	77	83	83
	Revenue/emp, $m	0.26	0.29	0.28	0.34	0.35	0.38	0.27	0.30	0.29	0.32
Income, $m
Income, $m	Revenue	32	34	30	32	32	36	23	23	24	27
	Gross margin, %	38.15	39.19	34.65	39.81	34.37	37.72	31.32	25.77	28.40	32.62
	EBT	(1)	1	(4)	0	1	2	(3)	(5)	(3)	(1)
	EBT margin, %	(3.78)	2.68	(11.85)	1.24	2.85	6.07	(14.76)	(22.80)	(13.19)	(4.80)
	Net income	(1)	1	(4)	0	1	2	(3)	(5)	(3)	(1)
	Depreciation	2	2	2	2	2	2	2	2	2	2
Per share, $
Per share, $	Revenue	5.66	5.98	5.19	5.36	5.33	5.84	3.71	3.53	3.42	3.64
	Earnings	(0.21)	0.18	(0.62)	0.06	0.15	0.35	(0.55)	(0.81)	(0.45)	(0.18)
	Cash flow	0.22	0.26	(0.15)	0.21	0.40	0.39	(0.34)	(0.07)	(0.17)	0.03
	Capex	(0.15)	(0.18)	(0.07)	(0.04)	(0.13)	(0.21)	(0.17)	(0.06)	(0.03)	(0.02)
	Free cash flow	0.07	0.09	(0.22)	0.17	0.27	0.18	(0.51)	(0.13)	(0.20)	0.01
	Book value	2.94	3.17	2.56	2.66	2.81	3.17	2.62	1.81	1.26	1.05
	Shares, m	6	6	6	6	6	6	6	7	7	7
Valuation, ×
Valuation, ×	P/E	0.00	28.61	0.00	29.43	20.63	9.63	0.00	0.00	0.00	0.00
	P/S	0.68	0.86	0.63	0.38	0.62	0.58	0.24	0.08	0.10	0.08
	P/B	1.31	1.62	1.27	0.77	1.18	1.06	0.34	0.16	0.28	0.29
	EV/Sales	0.87	1.03	0.86	0.58	0.72	0.64	0.47	0.29	0.38	0.36
	EV/FCF	74.69	72.20	(20.32)	18.20	14.21	20.73	(3.45)	(7.87)	(6.32)	(123.28)
Cash, $m
Cash, $m	Operating cash flow	1	1	(1)	1	2	2	(2)	0	(1)	0
	Capex	(1)	(1)	0	0	(1)	(1)	(1)	0	0	0
	Free cash flow	0	0	(1)	1	2	1	(3)	(1)	(1)	0
Balance, $m
Balance, $m	Working capital	6	8	5	8	9	11	5	2	0	0
	Total debt	7	7	8	9	7	5	6	5	7	8
	Net debt	6	6	7	6	3	2	5	5	7	7
	Shareholders’ equity	17	18	15	16	17	19	16	12	9	8
Returns, %
Returns, %	ROA	(4.03)	3.48	(12.12)	1.26	2.94	6.85	(11.14)	(19.21)	(13.18)	(5.62)
	ROIC	(1.88)	3.73	(8.55)	2.97	0.26	7.41	(8.38)	(17.40)	(10.10)	(2.38)
	ROE	(7.06)	5.91	(21.78)	2.52	5.59	11.79	(19.20)	(37.41)	(30.95)	(15.50)

Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SNAX Stryve Foods, Inc.	$3.1M	— (loss-making)	— (loss-making)	+36.39% (above 0%: growing)	n/m	−14.41% (below 0%: shrinking)	21.67%	(40.44%)	Compare
PAVS Paranovus Entertainment Technology Ltd.	$2.9M	— (loss-making)	— (loss-making)	−8.96% (below 0%: shrinking)	−582.47% (below 0%: shrinking)	+88.21% (above 0%: growing)	5.59%	0.00%	Compare
ORISF Oriental Rise Holdings Limited	$2.3M	—	—	—	—	−105.36% (below 0%: shrinking)	—	—	Compare
RGFC Real Good Food Company, Inc.	$2.2M	— (loss-making)	— (loss-making)	+47.98% (above 0%: growing)	n/m	+84.37% (above 0%: growing)	20.85%	(15.95%)	Compare
MEHA Functional Brands Inc.	$1.9M	— (loss-making)	—	+2.07% (above 0%: growing)	n/m	−209.98% (below 0%: shrinking)	59.89%	(70.59%)	Compare
ATPC Agape ATP Corporation	$1.7M	1.2×	—	−93.38% (below 0%: shrinking)	n/m	+77.69% (above 0%: growing)	86.13%	(4,021.90%)	Compare
CYAN Cyanotech Corporation	$1.7M	— (loss-making)	2.4×	+11.12% (above 0%: growing)	n/m	+204.00% (above 0%: growing)	42.38%	7.00%
BSFCD Blue Star Foods Corp.	$960.0K	14.2×	2.3×	−54.59% (below 0%: shrinking)	n/m	−123.09% (below 0%: shrinking)	55.80%	(29.04%)	Compare
STKH Steakholder Foods Ltd. Sponsored ADR	$670.0K	— (loss-making)	—	—	n/m	+35.62% (above 0%: growing)	0.00%	0.00%	Compare
Median of peers	$2.1M	—	—	−3.44%	—	+10.61%	21.67%	(29.04%)

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