Friday 6 November 2026 Export CYAN’s income statement to Excel — free account

Cyanotech Corporation

CYAN Consumer Defensive Packaged Foods

Cyanotech Corporation’s revenue for fiscal 2026 (year ended March 2026) was $26.6 million, up 9.80% from fiscal 2025.

Revenue: +11.1%
EPS: +144.1%
Free cash flow: +204.0%
Total debt: +7.77%

Quarter to June 2026, against a year earlier

0.44 0.01 −2.22%

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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

Insider Decisions last twelve months

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 52.14%

Capital & Financial Ratios $m

Size

Market Cap 1.65

Revenue ttm 27.23

Net income ttm (0.07)

Free cash flow ttm 0.70

Net debt Q 7.06

Valuation

P/E 0.00

Forward P/E 2.40

Price / sales 0.12

Forward P/S Powerpack

Price / FCF 4.57

Price / book 0.40

Financial health

Current ratio Q 1.06

Debt / equity Q 1.02

Interest coverage Q 2.75

Growth

Revenue growth Q +11.12%

Operating income growth Q +160.16%

EPS, this year —

EPS, next year A —

Revenue, next year A +116.17%

EPS, past 5 yrs —

EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 14.14%

10-year low 10-year high

P/B against its own 10 years 25.39%

10-year low 10-year high

EV/Sales against its own 10 years 8.05%

10-year low 10-year high

EV/FCF against its own 10 years 27.40%

10-year low 10-year high

Dividends

Yield: —
Annual rate: —
Payout ratio: —

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%)

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.

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.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	TTM Jun ’26	Trend	10 yrs	2027e	2028e	2029e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	32	34	30	32	32	36	23	23	24	27	27		(2.1%)	—	—	—	—
	Gross margin, %	38.15	39.19	34.65	39.81	34.37	37.72	31.32	25.77	28.40	32.62	35.40		(5.5) pt	Powerpack Cyanotech Corporation’s next three years, line by line See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	(1)	1	(4)	0	1	2	(3)	(5)	(3)	(1)	0		+0.6%
	EBT margin, %	(3.78)	2.68	(11.85)	1.24	2.85	6.07	(14.76)	(22.80)	(13.19)	(4.80)	(0.23)		(1.0) pt
	Net income	(1)	1	(4)	0	1	2	(3)	(5)	(3)	(1)	0		+0.6%
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	3.76		(4.8%)
	Earnings	(0.21)	0.18	(0.62)	0.06	0.15	0.35	(0.55)	(0.81)	(0.45)	(0.18)	(0.14)		(1.7%)
	Cash flow	0.22	0.26	(0.15)	0.21	0.40	0.39	(0.34)	(0.07)	(0.17)	0.03	0.14		(19.1%)
	Capex	(0.15)	(0.18)	(0.07)	(0.04)	(0.13)	(0.21)	(0.17)	(0.06)	(0.03)	(0.02)	(0.04)		(20.3%)
	Free cash flow	0.07	0.09	(0.22)	0.17	0.27	0.18	(0.51)	(0.13)	(0.20)	0.01	0.10		(16.8%)
	Book value	2.94	3.17	2.56	2.66	2.81	3.17	2.62	1.81	1.26	1.05	1.10		(10.8%)
	Shares, m	6	6	6	6	6	6	6	7	7	7	7		+2.9%
Valuation, ×
Valuation, ×	P/E	0.00	28.61	0.00	29.43	20.63	9.63	0.00	0.00	0.00	0.00	0.00		8.8
	P/S	0.68	0.86	0.63	0.38	0.62	0.58	0.24	0.08	0.10	0.08	0.12		0.4
	P/B	1.31	1.62	1.27	0.77	1.18	1.06	0.34	0.16	0.28	0.29	0.40		0.8
	EV/Sales	0.87	1.03	0.86	0.58	0.72	0.64	0.47	0.29	0.38	0.36	0.38		0.6
	EV/FCF	74.69	72.20	(20.32)	18.20	14.21	20.73	(3.45)	(7.87)	(6.32)	(123.28)	14.69		3.9
Cash, $m
Cash, $m	Operating cash flow	1	1	(1)	1	2	2	(2)	0	(1)	0	1		(16.8%)
	Capex	(1)	(1)	0	0	(1)	(1)	(1)	0	0	0	0		(18.0%)
	Free cash flow	0	0	(1)	1	2	1	(3)	(1)	(1)	0	1		(14.4%)
Balance, $m
Balance, $m	Working capital	6	8	5	8	9	11	5	2	0	0	1		(33.0%)
	Net debt	6	6	7	6	3	2	5	5	7	7	7		+2.3%
	Shareholders’ equity	17	18	15	16	17	19	16	12	9	8	8		(8.2%)
Returns, %
Returns, %	ROA	(4.03)	3.48	(12.12)	1.26	2.94	6.85	(11.14)	(19.21)	(13.18)	(5.62)	(0.30)		(1.6) pt
	ROIC	(1.88)	3.73	(8.55)	2.97	0.26	7.41	(8.38)	(17.40)	(10.10)	(2.38)	2.63		(0.5) pt
	ROE	(7.06)	5.91	(21.78)	2.52	5.59	11.79	(19.20)	(37.41)	(30.95)	(15.50)	(0.85)		(8.4) pt
People
People	Employees	124	118	109	95	93	95	86	77	83	83	—		(4.4%)
	Revenue/emp, $m	0.26	0.29	0.28	0.34	0.35	0.38	0.27	0.30	0.29	0.32	—		+2.4%

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ABVEF Above Food Ingredients Inc.	$5.8M	— (loss-making)	—	—	n/m	+325.10% (above 0%: growing)	—	0.00%	Compare
NCRA Nocera, Inc.	$3.4M	— (loss-making)	—	−28.52% (below 0%: shrinking)	n/m	−194.28% (below 0%: shrinking)	0.84%	(54.90%)	Compare
FAMI Farmmi, Inc.	$3.4M	0.1×	5.8×	+244.11% (above 0%: growing)	−91.24% (below 0%: shrinking)	+88.60% (above 0%: growing)	4.29%	0.00%	Compare
PAVS Paranovus Entertainment Technology Ltd.	$2.4M	— (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
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
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%
ATPC Agape ATP Corporation	$1.3M	— (loss-making)	—	−93.38% (below 0%: shrinking)	n/m	+77.69% (above 0%: growing)	86.13%	(4,021.90%)	Compare
BSFCD Blue Star Foods Corp.	$960.0K	0.0×	2.3×	−54.59% (below 0%: shrinking)	n/m	−123.09% (below 0%: shrinking)	55.80%	(29.04%)	Compare
Median of peers	$2.4M	—	—	−18.74%	—	−13.84%	30.70%	(29.04%)

All 68 Packaged Foods stocks →

Pay and ownership Proxy statement filed 10 July 2025

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	315.18k	267.29k	11.00
2024	322.83k	248.59k	9.00
2023	376.79k	438.05k	27.00

Ownership

Directors and executive officers, together 34.40%

Michael A. Davis 24.70%

Rudolf Steiner Foundation 12.70%

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement