CODXNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
Co-Diagnostics, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 13, 2026
$0.67+0.01 (+1.83%)
Close on Oct 19, 2026
- Market cap
- $2.87M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
64.3%−13.5 pts over 5 years
Operating margin
-8058.8%−8114.8 pts over 5 years
Net margin
-7533.6%−7590.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -84.1% | -73.7% | -61.6% | – | |
| Gross profit | -86.3% | -75.9% | -63.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 93.1% | 124.1% | -125.9% | |
| Return on assets | – | 115.7% | -106.2% | |
| Current ratio | 0.31 | 16.69 | 3.87 | |
| Debt to equity | -1.00 | – | – | |
| Net debt to EBITDA | -1.21× | – | – | |
| Interest coverage | -7.0× | – | – | |
| Inventory turnover | – | 4.1× | 0.2× | |
| Capex to revenue | – | 1.0% | 112.5% | |
| Diluted shares | 0M | 1M | 1M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Co-Diagnostics generated $128.02M from operations and spent $20.49M on capital expenditure, dividends and share buybacks. 24% of that went back into the business.
Generated
$128.02M
Used
$20.49M
Capital expenditure$4.91M24%Dividends$00%Share buybacks$15.58M76%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-7533.6%
×Asset turnover0.01×
×Equity multiplier1.19×
=Return on equity, FY2025-125.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -7533.6% | 0.01× | 1.19× | -125.9% |
| FY2024 | -961.4% | 0.05× | 1.14× | -54.0% |
| FY2023 | -518.7% | 0.06× | 1.09× | -35.3% |
| FY2022 | -41.6% | 0.24× | 1.14× | -11.4% |
| FY2021 | 37.5% | 0.85× | 1.15× | 36.4% |
| FY2020 | 57.0% | 2.03× | 1.07× | 124.1% |
| FY2019 | -2882.0% | 0.11× | 5.55× | -1826.4% |
| FY2018 | -15714.3% | 0.01× | 2.23× | -449.3% |
| FY2017 | -90827.9% | 0.00× | 6.96× | -1626.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
1of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$46.90M
- Cash generatingOperating cash flow above zero-$29.14M
- Return on assets improvedROA up on the prior year-39.5% → -73.8%
- Earnings backed by cashOperating cash flow above net income-$29.14M vs -$46.90M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose4.41 → 3.87
- No dilutionShare count did not rise1M → 1M
- Gross margin improvedGross margin up on the prior year74.48% → 64.28%
- More efficientAsset turnover rose0.04 → 0.01