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Cadiz Inc (CDZIP) stock analysis

CDZIPNasdaqWater SupplyFiscal year ends December 31Also trades as CDZI
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-K/A on Oct 29, 2026Score 3/30
$19.50−0.10 (-0.51%)

Close on Oct 30, 2026Market cap $385.28MP/E –Yield –

StockData Score

Prices as of Oct 30, 2026How the score works

Value0Growth1Performance1Health1Dividend0

Weak3 of 30 checks passed

Cadiz passes 3 of the 30 checks behind our score; 15 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
0/6
Growth
1/6
Past performance
1/6
Financial health
1/6
Dividend
0/6

What stands out

  • Revenue growing 10%+ a year

    Revenue grew 122% a year over the last three fiscal years.

  • Net margin above its 5-year average

    Net margin was -311% over the last twelve months, against a 5-year average of -1861%.

  • Short-term assets cover short-term debts

    Current assets are 1.16 times current liabilities.

What to watch

  • Return on equity under 15%

    Return on equity was -183% over the last twelve months and averaged -153% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -26.4%, below the 10% that usually covers the cost of capital.

  • High debt

    Debt is 1865% of shareholders' equity, above the 40% we consider low.

  • Interest not well covered

    Operating income covers interest expense -2.8 times; we look for at least 5.

Valuation0/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B above the industry

    Cadiz's price-to-book of 82.59 is above the Water Supply median of 1.91.

  • Price against fair value

    We could not estimate a fair value: it needs at least two valuation methods with positive inputs.

  • Margin of safety

    Depends on the fair value estimate.

Growth1/6

  • Revenue growing 10%+ a year

    Revenue grew 122% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew -21.3% over the last twelve months; the Water Supply median is 6.8%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin slipping

    Gross margin was 27.1% over the last twelve months, against 32.3% a year earlier.

Past performance1/6

  • Return on equity under 15%

    Return on equity was -183% over the last twelve months and averaged -153% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -26.4%, below the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    Cadiz's return on equity of -183% is below the Water Supply median of 9.0%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was -311% over the last twelve months, against a 5-year average of -1861%.

  • Net margin below the industry

    Cadiz's net margin of -311% is below the Water Supply median of 20.4%.

Financial health1/6

  • High debt

    Debt is 1865% of shareholders' equity, above the 40% we consider low.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt not well covered by cash flow

    Operating cash flow over the last twelve months equals -30.0% of total debt; we look for at least 20%.

  • Interest not well covered

    Operating income covers interest expense -2.8 times; we look for at least 5.

  • Short-term assets cover short-term debts

    Current assets are 1.16 times current liabilities.

  • Elevated bankruptcy risk

    The Altman Z-score is -6.20; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Cadiz has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for Cadiz. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/B at month end
  • Own 5-year median 5.7
  • Water Supply median 1.9

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Medium risk

Average value traded per day
$5.52M
Value traded per 1% price move
$945.63K

Downside

High risk

Typical loss in a bad month
25.4%
Volatility (annualized)
67%
Sharpe ratio, 1 year
-0.33
Beta to the S&P 500 (5Y)
1.24

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Gross margin

31.6%

Operating margin

-156.9%+2015.7 pts over 5 years

Net margin

-209.3%+6780.9 pts over 5 years