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CODEXIS INC (CDXS) Stock Fundamental Analysis

USA - NASDAQ:CDXS - US1920051067 - Common Stock

1.75 USD
+0.06 (+3.55%)
Last: 11/10/2025, 8:00:02 PM
1.76 USD
+0.01 (+0.57%)
After Hours: 11/10/2025, 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 may be in some trouble as it scores bad on both profitability and health. CDXS does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year CDXS has reported negative net income.
In the past year CDXS has reported a negative cash flow from operations.
CDXS had negative earnings in each of the past 5 years.
CDXS had negative operating cash flow in 4 of the past 5 years.
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.
CDXS's Return On Equity of -116.80% is on the low side compared to the rest of the industry. CDXS is outperformed by 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 better Gross Margin (77.61%) than 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.
Compared to 1 year ago, CDXS has more shares outstanding
The number of shares outstanding for CDXS has been increased compared to 5 years ago.
Compared to 1 year ago, CDXS has a worse debt to assets ratio.
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

Based on the Altman-Z score of -5.25, we must say that CDXS is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of CDXS (-5.25) is worse 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.
CDXS has a worse Debt to Equity ratio (0.71) than 74.14% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.71
Debt/FCF N/A
Altman-Z -5.25
ROIC/WACCN/A
WACC10.99%
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

CDXS has a Current Ratio of 5.82. This indicates that CDXS is financially healthy and has no problem in meeting its short term obligations.
CDXS has a better Current ratio (5.82) than 81.03% of its industry peers.
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.
Looking at the Quick ratio, with a value of 5.70, CDXS belongs to the top of the industry, outperforming 86.21% of the companies in the same industry.
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%.
The Revenue has been decreasing by -2.83% on average over the past years.
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.
Based on estimates for the next years, CDXS will show a quite strong growth in Revenue. The Revenue will grow by 19.13% on average per year.
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.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for CDXS. No positive earnings are expected for the next year.
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 40

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 (11/10/2025, 8:00:02 PM)

After market: 1.76 +0.01 (+0.57%)

1.75

+0.06 (+3.55%)

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 Cap157.97M
Revenue(TTM)59.34M
Net Income(TTM)-64.98M
Analysts81.54
Price Target6.83 (290.29%)
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 2.76
P/FCF N/A
P/OCF N/A
P/B 2.84
P/tB 2.97
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 -5.25
F-Score3
WACC10.99%
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.