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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. 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.

0.70 0.00 0.00%
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% (at or above 10%: strong)
Next 5Y EPS Growth —

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.4×, against a ten-year median of 0.7×; over the ten years it ranged from 0.3× in 2024 to 1.1× in 2016.
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.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
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

Cyanotech Corporation vs peers in Packaged Foods (Q) = latest quarter vs a year earlier

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%)

All 71 Packaged Foods stocks →

Cyanotech Corporation (CYAN) key facts

  • Strength: Cyanotech Corporation’s revenue for fiscal 2026 (year ended March 2026) was $26.6 million, up 9.80% from fiscal 2025.
  • Cyanotech Corporation (CYAN) is a Packaged Foods company in the Consumer Defensive sector.
  • As of October 15, 2026, CYAN traded at $0.70, a market capitalization of $1.7 million.
  • Return on equity was −15.5% and debt-to-equity 1.02.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is −0.52 (distress zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Cyanotech Corporation (CYAN) Latest News

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stockrow.com/CYAN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com