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Friday 6 November 2026
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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
0.43
0.01
−2.27%
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| Mar '17 | Mar '18 | Mar '19 | Mar '20 | Mar '21 | Mar '22 | Mar '23 | Mar '24 | Mar '25 | Mar '26 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
6 | 8 | 2 | 7 | 6 | 8 | 2 | 2 | 4 | 5 |
P/E ratio |
0.00 | 28.61 | 0.00 | 29.43 | 20.63 | 9.63 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
1.59 | 2.47 | 0.83 | 1.13 | 1.55 | 2.19 | 0.09 | (0.78) | (0.76) | (0.52) |
P/S ratio |
0.68 | 0.86 | 0.63 | 0.38 | 0.62 | 0.58 | 0.24 | 0.08 | 0.10 | 0.08 |
Altman Z″-Score (non-manufacturers) |
0.94 | 2.16 | (0.43) | 1.22 | 1.56 | 3.07 | (0.12) | (2.74) | (3.62) | (3.60) |
P/FCF ratio |
58.40 | 60.62 | 0.00 | 12.04 | 12.21 | 18.71 | 0.00 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
(3.44) | (2.04) | (3.32) | 2.44 | (2.48) | (2.04) | (3.27) | (2.79) | (3.07) | (2.37) |
P/Operating CF |
66.41 | 1,336.43 | (23.57) | 11.81 | 13.53 | 20.05 | 9.42 | 6.17 | (43.42) | 4.22 |
P/B ratio |
1.31 | 1.62 | 1.27 | 0.77 | 1.18 | 1.06 | 0.34 | 0.16 | 0.28 | 0.29 |
Price to Tangible BV |
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/EBITDA |
20.44 | 10.41 | 0.00 | 5.52 | 10.41 | 5.05 | 0.00 | 0.00 | 0.00 | 23.23 |
EV/Operating CF |
22.84 | 23.50 | (30.66) | 14.92 | 9.71 | 9.66 | (5.20) | (14.45) | (7.63) | 41.09 |
EV/FCF |
74.69 | 72.20 | (20.32) | 18.20 | 14.21 | 20.73 | (3.45) | (7.87) | (6.32) | (123.28) |
Quick Ratio |
0.59 | 0.70 | 0.30 | 0.72 | 1.07 | 1.30 | 0.28 | 0.33 | 0.22 | 0.38 |
Current Ratio |
2.03 | 2.39 | 1.54 | 2.32 | 2.60 | 3.37 | 1.67 | 1.24 | 1.03 | 1.02 |
Net Debt/EBITDA |
4.46 | 1.67 | (6.87) | 1.87 | 1.46 | 0.49 | (6.92) | (1.86) | (10.98) | 5.62 |
Debt/Assets |
25.66% | 23.38% | 26.45% | 27.36% | 22.78% | 15.06% | 21.56% | 21.46% | 29.31% | 37.22% |
Debt/Equity |
0.45 | 0.38 | 0.53 | 0.55 | 0.41 | 0.25 | 0.39 | 0.46 | 0.78 | 1.08 |
Asset Turnover |
1.06 | 1.16 | 1.02 | 1.04 | 1.03 | 1.14 | 0.75 | 0.84 | 1.00 | 1.17 |
Operating CF/Net income |
(1.00) | 1.45 | 0.24 | 3.21 | 2.61 | 1.10 | 0.61 | 0.09 | 0.37 | (0.18) |
Capex/Depreciation |
(0.41) | (0.52) | (0.22) | (0.10) | (0.35) | (0.64) | (0.50) | (0.18) | (0.13) | (0.07) |
Interest Coverage |
(1.29) | 2.83 | (5.15) | 1.60 | 0.15 | 6.57 | (5.82) | (6.87) | (3.65) | (0.82) |
| (7.06%) | 5.91% | (21.78%) | 2.52% | 5.59% | 11.79% | (19.20%) | (37.41%) | (30.95%) | (15.50%) | |
| (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%) |
Return on Tangible Assets |
(5.30%) | 4.34% | (18.11%) | 1.81% | 4.29% | 9.23% | (20.53%) | (43.36%) | (34.71%) | (16.14%) |
Average Days of Receivables |
24.32 | 28.50 | 23.95 | 24.65 | 27.49 | 37.18 | 20.96 | 33.26 | 29.44 | 44.58 |
Research and Development Expense of Revenue |
1.85% | 1.65% | 3.06% | 1.91% | 1.98% | 1.98% | 3.32% | 2.99% | 1.85% | 0.86% |
Selling, General and Administrative Expense of Revenue |
38.43% | 33.40% | 41.52% | 34.61% | 32.13% | 28.58% | 40.59% | 42.69% | 36.90% | 33.93% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.72% | 1.17% | 1.07% | 1.81% | 0.66% | 0.96% | 1.34% | 1.56% | 1.02% | 0.50% |
Graham Net Nets |
(0.01) | 0.07 | (0.01) | (0.10) | 0.06 | 0.18 | 0.02 | (1.43) | (1.64) | (1.64) |
Graham Number |
0.00 | 3.58 | 0.00 | 2.05 | 3.18 | 4.99 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(5.45%) | 3.50% | (19.02%) | 3.40% | 4.85% | 10.39% | (63.64%) | (279.31%) | (128.57%) | (89.10%) |
Free Cash Flow Yield |
1.71% | 1.65% | (6.74%) | 8.31% | 8.19% | 5.34% | (57.66%) | (44.14%) | (58.19%) | (3.56%) |
Revenue per Share |
5.66 | 5.98 | 5.19 | 5.36 | 5.33 | 5.84 | 3.71 | 3.53 | 3.42 | 3.64 |
Operating CF per Share |
0.22 | 0.26 | (0.15) | 0.21 | 0.40 | 0.39 | (0.34) | (0.07) | (0.17) | 0.03 |
Capex per Share |
(0.15) | (0.18) | (0.07) | (0.04) | (0.13) | (0.21) | (0.17) | (0.06) | (0.03) | (0.02) |
Free Cash Flow per Share |
0.07 | 0.09 | (0.22) | 0.17 | 0.27 | 0.18 | (0.51) | (0.13) | (0.20) | 0.01 |
Cash per Share |
0.25 | 0.23 | 0.14 | 0.41 | 0.62 | 0.42 | 0.16 | 0.11 | 0.04 | 0.11 |
Shareholders Equity per Share |
2.94 | 3.17 | 2.56 | 2.66 | 2.81 | 3.17 | 2.62 | 1.81 | 1.26 | 1.05 |
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 |
2.94 | 3.17 | 2.56 | 2.66 | 2.81 | 3.17 | 2.62 | 1.81 | 1.26 | 1.05 |
Free Cash Flow |
0.37 | 0.49 | (1.28) | 1.02 | 1.64 | 1.11 | (3.17) | (0.84) | (1.44) | 0.09 |
Working Capital |
6.20 | 7.91 | 5.10 | 8.37 | 9.30 | 11.44 | 5.39 | 2.04 | 0.30 | 0.17 |
Capital Expenditures |
(0.85) | (1.00) | (0.43) | (0.22) | (0.76) | (1.27) | (1.07) | (0.38) | (0.25) | (0.14) |
Net Current Asset Value |
(0.32) | 2.02 | (0.12) | (1.21) | 1.27 | 3.71 | 0.12 | (2.71) | (4.06) | (3.59) |
EV/EBIT |
0.00 | 24.76 | 0.00 | 17.62 | 277.35 | 8.93 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.03 | 0.03 | 0.01 | 0.01 | 0.02 | 0.04 | 0.05 | 0.02 | 0.01 | 0.01 |
Price to Operating Income |
0.00 | 20.79 | 0.00 | 11.65 | 238.46 | 8.06 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.12 | 0.12 | 0.13 | 0.18 | 0.18 | 0.17 | 0.19 | 0.20 | 0.21 | 0.24 |
Cash ROIC |
1.46% | 1.84% | (5.42%) | 3.78% | 5.89% | 4.12% | (13.35%) | (4.67%) | (8.98%) | 0.55% |
Accounts Receivable Turnover |
12.52 | 14.22 | 13.00 | 15.43 | 14.09 | 11.79 | 9.28 | 13.44 | 11.94 | 10.23 |
Accounts Payable Turnover |
5.17 | 5.77 | 4.67 | 5.44 | 9.60 | 9.64 | 9.41 | 13.92 | 9.49 | 9.14 |
Inventory Turnover |
2.50 | 2.44 | 1.94 | 1.83 | 2.35 | 2.51 | 1.58 | 1.90 | 2.30 | 2.54 |
Average Days of Payables |
67.52 | 62.06 | 91.03 | 40.63 | 39.32 | 38.48 | 23.41 | 30.67 | 46.67 | 34.70 |
Days of Inventory on Hand |
146.83 | 158.96 | 208.50 | 183.52 | 144.69 | 154.23 | 245.50 | 155.86 | 163.94 | 129.10 |
Average Receivables |
2.56 | 2.40 | 2.32 | 2.07 | 2.30 | 3.05 | 2.50 | 1.72 | 2.03 | 2.60 |
Average Payables |
3.83 | 3.60 | 4.22 | 3.53 | 2.21 | 2.32 | 1.69 | 1.23 | 1.83 | 1.96 |
Average Inventory |
7.91 | 8.50 | 10.15 | 10.46 | 9.03 | 8.94 | 10.09 | 9.01 | 7.55 | 7.06 |
Average Assets |
30.15 | 29.43 | 29.67 | 30.71 | 31.33 | 31.46 | 30.89 | 27.42 | 24.30 | 22.81 |
Average Common Equity |
17.22 | 17.36 | 16.51 | 15.38 | 16.44 | 18.26 | 17.92 | 14.08 | 10.35 | 8.27 |
Columns are period end dates