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CODEXIS INC (CDXS) Stock Fundamental Analysis

USA - NASDAQ:CDXS - US1920051067 - Common Stock

1.645 USD
+0.02 (+0.92%)
Last: 11/14/2025, 8:00:02 PM
1.64 USD
-0.01 (-0.3%)
After Hours: 11/14/2025, 8:00:02 PM
Fundamental Rating

2

Overall CDXS gets a fundamental rating of 2 out of 10. We evaluated CDXS against 58 industry peers in the Life Sciences Tools & Services industry. CDXS has a bad profitability rating. Also its financial health evaluation is rather negative. CDXS is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

CDXS had negative earnings in the past year.
In the past year CDXS has reported a negative cash flow from operations.
CDXS had negative earnings in each of the past 5 years.
In the past 5 years CDXS reported 4 times negative operating cash flow.
CDXS Yearly Net Income VS EBIT VS OCF VS FCFCDXS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -20M -40M -60M

1.2 Ratios

Looking at the Return On Assets, with a value of -47.00%, CDXS is doing worse than 82.76% of the companies in the same industry.
The Return On Equity of CDXS (-116.80%) is worse than 81.03% of its industry peers.
Industry RankSector Rank
ROA -47%
ROE -116.8%
ROIC N/A
ROA(3y)-37.68%
ROA(5y)-26.51%
ROE(3y)-69.59%
ROE(5y)-47.16%
ROIC(3y)N/A
ROIC(5y)N/A
CDXS Yearly ROA, ROE, ROICCDXS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -20 -40 -60 -80

1.3 Margins

CDXS has a Gross Margin of 77.61%. This is amongst the best in the industry. CDXS outperforms 96.55% of its industry peers.
CDXS's Gross Margin has been stable in the last couple of years.
CDXS does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 77.61%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.68%
GM growth 5Y-1.2%
CDXS Yearly Profit, Operating, Gross MarginsCDXS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100

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3

2. Health

2.1 Basic Checks

CDXS does not have a ROIC to compare to the WACC, probably because it is not profitable.
CDXS has more shares outstanding than it did 1 year ago.
The number of shares outstanding for CDXS has been increased compared to 5 years ago.
The debt/assets ratio for CDXS is higher compared to a year ago.
CDXS Yearly Shares OutstandingCDXS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
CDXS Yearly Total Debt VS Total AssetsCDXS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

2.2 Solvency

CDXS has an Altman-Z score of -5.29. This is a bad value and indicates that CDXS is not financially healthy and even has some risk of bankruptcy.
CDXS has a worse Altman-Z score (-5.29) than 82.76% of its industry peers.
CDXS has a Debt/Equity ratio of 0.71. This is a neutral value indicating CDXS is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.71, CDXS is doing worse than 74.14% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.71
Debt/FCF N/A
Altman-Z -5.29
ROIC/WACCN/A
WACC11.04%
CDXS Yearly LT Debt VS Equity VS FCFCDXS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M 100M 150M

2.3 Liquidity

A Current Ratio of 5.82 indicates that CDXS has no problem at all paying its short term obligations.
With an excellent Current ratio value of 5.82, CDXS belongs to the best of the industry, outperforming 81.03% of the companies in the same industry.
CDXS has a Quick Ratio of 5.70. This indicates that CDXS is financially healthy and has no problem in meeting its short term obligations.
CDXS has a Quick ratio of 5.70. This is amongst the best in the industry. CDXS outperforms 86.21% of its industry peers.
Industry RankSector Rank
Current Ratio 5.82
Quick Ratio 5.7
CDXS Yearly Current Assets VS Current LiabilitesCDXS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

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3

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 12.64% over the past year.
CDXS shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -15.39%.
Measured over the past years, CDXS shows a decrease in Revenue. The Revenue has been decreasing by -2.83% on average per year.
EPS 1Y (TTM)12.64%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%24.14%
Revenue 1Y (TTM)-15.39%
Revenue growth 3Y-17.27%
Revenue growth 5Y-2.83%
Sales Q2Q%-32.98%

3.2 Future

CDXS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.90% yearly.
The Revenue is expected to grow by 19.13% on average over the next years. This is quite good.
EPS Next Y25.52%
EPS Next 2Y17.09%
EPS Next 3Y17.5%
EPS Next 5Y9.9%
Revenue Next Year0.58%
Revenue Next 2Y10.61%
Revenue Next 3Y17.04%
Revenue Next 5Y19.13%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
CDXS Yearly Revenue VS EstimatesCDXS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 100M 200M 300M 400M
CDXS Yearly EPS VS EstimatesCDXS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 0.5 -0.5 -1

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0

4. Valuation

4.1 Price/Earnings Ratio

CDXS reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year CDXS is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
CDXS Price Earnings VS Forward Price EarningsCDXS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
CDXS Per share dataCDXS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.2 -0.2 0.4 -0.4 0.6 -0.6

4.3 Compensation for Growth

A more expensive valuation may be justified as CDXS's earnings are expected to grow with 17.50% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y17.09%
EPS Next 3Y17.5%

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0

5. Dividend

5.1 Amount

CDXS does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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CODEXIS INC

NASDAQ:CDXS (11/14/2025, 8:00:02 PM)

After market: 1.64 -0.01 (-0.3%)

1.645

+0.02 (+0.92%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryLife Sciences Tools & Services
Earnings (Last)11-06 2025-11-06/amc
Earnings (Next)02-25 2026-02-25/amc
Inst Owners81.16%
Inst Owner Change-3.39%
Ins Owners2.18%
Ins Owner Change5.3%
Market Cap148.49M
Revenue(TTM)59.34M
Net Income(TTM)-64.98M
Analysts81.54
Price Target6.83 (315.2%)
Short Float %5.41%
Short Ratio6.05
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)6.73%
Min EPS beat(2)-3.36%
Max EPS beat(2)16.81%
EPS beat(4)1
Avg EPS beat(4)-64.3%
Min EPS beat(4)-251.59%
Max EPS beat(4)16.81%
EPS beat(8)3
Avg EPS beat(8)-36.67%
EPS beat(12)6
Avg EPS beat(12)-18.24%
EPS beat(16)10
Avg EPS beat(16)2.78%
Revenue beat(2)1
Avg Revenue beat(2)-8.47%
Min Revenue beat(2)-23.47%
Max Revenue beat(2)6.53%
Revenue beat(4)2
Avg Revenue beat(4)-7.65%
Min Revenue beat(4)-23.47%
Max Revenue beat(4)9.58%
Revenue beat(8)4
Avg Revenue beat(8)2.4%
Revenue beat(12)6
Avg Revenue beat(12)1.74%
Revenue beat(16)9
Avg Revenue beat(16)4.78%
PT rev (1m)0%
PT rev (3m)-5.41%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.97%
EPS NY rev (1m)0%
EPS NY rev (3m)5.16%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.76%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.31%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.6
P/FCF N/A
P/OCF N/A
P/B 2.67
P/tB 2.79
EV/EBITDA N/A
EPS(TTM)-0.76
EYN/A
EPS(NY)-0.57
Fwd EYN/A
FCF(TTM)-0.75
FCFYN/A
OCF(TTM)-0.68
OCFYN/A
SpS0.63
BVpS0.62
TBVpS0.59
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -47%
ROE -116.8%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 77.61%
FCFM N/A
ROA(3y)-37.68%
ROA(5y)-26.51%
ROE(3y)-69.59%
ROE(5y)-47.16%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.68%
GM growth 5Y-1.2%
F-Score3
Asset Turnover0.41
Health
Industry RankSector Rank
Debt/Equity 0.71
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 131.9%
Cap/Sales 11.46%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 5.82
Quick Ratio 5.7
Altman-Z -5.29
F-Score3
WACC11.04%
ROIC/WACCN/A
Cap/Depr(3y)106.81%
Cap/Depr(5y)185.7%
Cap/Sales(3y)6.52%
Cap/Sales(5y)7.63%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)12.64%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%24.14%
EPS Next Y25.52%
EPS Next 2Y17.09%
EPS Next 3Y17.5%
EPS Next 5Y9.9%
Revenue 1Y (TTM)-15.39%
Revenue growth 3Y-17.27%
Revenue growth 5Y-2.83%
Sales Q2Q%-32.98%
Revenue Next Year0.58%
Revenue Next 2Y10.61%
Revenue Next 3Y17.04%
Revenue Next 5Y19.13%
EBIT growth 1Y-7.78%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year18.36%
EBIT Next 3Y12.55%
EBIT Next 5Y12.02%
FCF growth 1Y-1020.12%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-9318.15%
OCF growth 3YN/A
OCF growth 5YN/A

CODEXIS INC / CDXS FAQ

Can you provide the ChartMill fundamental rating for CODEXIS INC?

ChartMill assigns a fundamental rating of 2 / 10 to CDXS.


What is the valuation status of CODEXIS INC (CDXS) stock?

ChartMill assigns a valuation rating of 0 / 10 to CODEXIS INC (CDXS). This can be considered as Overvalued.


Can you provide the profitability details for CODEXIS INC?

CODEXIS INC (CDXS) has a profitability rating of 1 / 10.


How financially healthy is CODEXIS INC?

The financial health rating of CODEXIS INC (CDXS) is 3 / 10.