CRMDNasdaqPharmaceutical PreparationsFiscal year ends December 31
CorMedix Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 13, 2026
$7.38+0.12 (+1.65%)
Close on Oct 19, 2026
- Market cap
- $682.50M
- P/E (TTM)
- 3.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
88.5%+74.1 pts over 5 years
Operating margin
48.2%+11426.6 pts over 5 years
Net margin
52.3%+9260.0 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 | +617.0% | +1582.8% | +319.7% | +107.6% | |
| Gross profit | +584.5% | +1547.4% | +503.7% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -95.1% | -64.9% | 66.6% | |
| Return on assets | -83.5% | -55.9% | 34.5% | |
| Current ratio | 5.34 | 11.58 | 2.11 | |
| Interest coverage | -18887.0× | -819.3× | 54.0× | |
| Inventory turnover | 1.3× | 0.8× | 1.9× | |
| Capex to revenue | 26.2% | 47.1% | 0.7% | |
| Diluted shares | 38M | 29M | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
CorMedix generated $309.58M from operations and spent $4.35M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$309.58M
Used
$4.35M
Capital expenditure$4.35M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin52.3%
×Asset turnover0.66×
×Equity multiplier1.93×
=Return on equity, FY202566.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 52.3% | 0.66× | 1.93× | 66.6% |
| FY2024 | -41.2% | 0.43× | 1.30× | -23.2% |
| FY2022 | -45409.9% | 0.00× | 1.11× | -50.4% |
| FY2021 | -14774.7% | 0.00× | 1.10× | -52.7% |
| FY2020 | -9207.7% | 0.01× | 1.16× | -64.9% |
| FY2019 | -5801.3% | 0.01× | 1.69× | -115.0% |
| FY2018 | -6242.4% | 0.03× | 2.66× | -442.5% |
| FY2017 | -10023.4% | 0.02× | 1.41× | -264.0% |
| FY2016 | -10996.5% | 0.01× | 1.14× | -95.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$163.06M
- Cash generatingOperating cash flow above zero$175.05M
- Return on assets improvedROA up on the prior year-21.8% → 137.2%
- Earnings backed by cashOperating cash flow above net income$175.05M vs $163.06M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.39 → 2.11
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year92.66% → 88.46%
- More efficientAsset turnover rose0.53 → 2.62