Cadiz Inc. (CDZI) Key Metrics
CDZI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $327.7M
- Enterprise value
- $439.4M
- P/E (TTM)
- —
- Forward P/E
- 61.7
- PEG ratio
- 1.51
- Price / sales
- 27.7 10-yr median 419.7
- Price / book
- 67.2 10-yr median 4.6
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 1.73
CDZI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCDZI valuation Price multiples at each fiscal year-end price.
Price / sales−25.2%
27.9
2025 · hover or tap a bar for each year
20162025
Price / book+85.5%
19.6
2025 · hover or tap a bar for each year
20162025
Free cash flow yield+0.4 pts
−5.8%
2025 · hover or tap a bar for each year
20162025
CDZI returns How much profit the business earns on the capital it uses.
Return on equity−35.1 pts
−119.3%
2025 · hover or tap a bar for each year
20162025
Return on invested capital+0.2 pts
−18.3%
2025 · hover or tap a bar for each year
20162025
Return on assets+1.0 pts
−24.8%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin+71.3 pts
−162.5%
2025 · hover or tap a bar for each year
20162025
Asset turnover+49.1%
0.12
2025 · hover or tap a bar for each year
20162025
CDZI per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+44.2%
$0.20
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$0.42
2025 · hover or tap a bar for each year
20162025
Free cash flow per share
−$0.33
2025 · hover or tap a bar for each year
20162025
Book value per share−41.8%
$0.29
2025 · hover or tap a bar for each year
20162025
Dividends per share−15.1%
$0.06
2025 · hover or tap a bar for each year
20162025
Shares outstanding+17.7%
81.1M
2025 · hover or tap a bar for each year
20162025
CDZI financial health Debt, liquidity and how easily interest is covered.
Debt / equity+77.2%
4.48
2025 · hover or tap a bar for each year
20162025
Net debt+$27.0M
$95.6M
2025 · hover or tap a bar for each year
20162025
Current ratio−32.0%
1.22
2025 · hover or tap a bar for each year
20162025
Interest coverage
-2.8
2025 · hover or tap a bar for each year
20162025
Debt / assets+15.8%
0.74
2025 · hover or tap a bar for each year
20162025
CDZI efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+10 days
114 days
2025 · hover or tap a bar for each year
20162025
Days of inventory−60 days
68 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding+11 days
99 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle−62 days
83 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue+36.7 pts
46.4%
2025 · hover or tap a bar for each year
20162025
CDZI valuation history
Fiscal year-endToday10-year median
CDZI returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CDZI debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CDZI cash returned to shareholders
DividendsBuybacksFree cash flow
CDZI price vs earnings per share
Share price at year-endEPS (right axis)
CDZI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $454.8M | $358.0M | $183.8M | $124.7M | $156.6M | $364.1M | $292.6M | $247.2M | $321.1M | $234.0M |
| Enterprise value | $550.4M | $426.6M | $240.5M | $185.1M | $214.3M | $452.7M | $430.2M | $385.3M | $446.5M | $338.1M |
| Price / sales | 27.9 | 37.3 | 92.3 | 83.1 | 277.6 | 673.0 | 663.4 | 561.8 | 734.8 | 567.9 |
| Price / book | 19.6 | 10.5 | 4.6 | 3.6 | 3.9 | — | — | — | — | — |
| EV / sales | 33.7 | 44.4 | 120.8 | 123.3 | 380.0 | 836.7 | 975.6 | 875.8 | — | 820.6 |
| Earnings yield | −7.5% | −8.7% | −17.1% | −19.9% | −20.0% | −10.4% | −10.1% | −10.6% | −10.5% | −11.3% |
| Free cash flow yield | −5.8% | −6.3% | −14.5% | −17.6% | −24.4% | −5.3% | −5.2% | −5.6% | −3.6% | −4.1% |
| Dividend yield | 1.1% | 1.4% | 2.8% | 4.1% | 0.9% | 0.4% | 0.5% | 0.6% | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 1.1% | 1.4% | 2.9% | 4.1% | 0.9% | 0.4% | 0.5% | 0.6% | 0.0% | 0.0% |
| Share price at fiscal year-end | $5.61 | $5.20 | $2.80 | $2.50 | $3.86 | $10.65 | $11.02 | $10.30 | $14.25 | $12.50 |
| Per share | ||||||||||
| Revenue per share | $0.20 | $0.14 | $0.03 | $0.03 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| Earnings per share | −$0.42 | −$0.45 | −$0.48 | −$0.50 | −$0.77 | −$1.11 | −$1.11 | −$1.09 | −$1.50 | −$1.41 |
| Operating cash flow per share | −$0.23 | −$0.31 | −$0.32 | −$0.37 | −$0.38 | −$0.39 | −$0.52 | −$0.51 | −$0.46 | −$0.51 |
| Free cash flow per share | −$0.33 | −$0.33 | −$0.41 | −$0.44 | −$0.94 | −$0.56 | −$0.58 | −$0.58 | −$0.51 | −$0.51 |
| Cash per share | $0.11 | $0.25 | $0.07 | $0.20 | $0.27 | $0.21 | $0.59 | $0.52 | $0.58 | $0.65 |
| Book value per share | $0.29 | $0.49 | $0.61 | $0.69 | $1.00 | −$0.74 | −$3.09 | −$3.59 | −$3.49 | −$2.90 |
| Tangible book value per share | $0.22 | $0.41 | $0.52 | $0.57 | $0.91 | −$0.85 | −$3.24 | −$3.75 | −$3.83 | −$3.31 |
| Dividends per share | $0.06 | $0.07 | $0.08 | $0.10 | $0.04 | $0.04 | $0.05 | $0.06 | $0.00 | $0.00 |
| Capex per share | $0.09 | $0.01 | $0.09 | $0.07 | $0.56 | $0.17 | $0.06 | $0.07 | $0.04 | $0.05 |
| Debt per share | $1.29 | $1.25 | $0.93 | $1.41 | $1.69 | $2.80 | $5.78 | $6.28 | $6.14 | $6.21 |
| Shares outstanding | 81.1M | 68.8M | 65.7M | 49.9M | 40.6M | 34.2M | 26.5M | 24.0M | 22.5M | 18.7M |
| Change in shares outstanding | +17.7% | +4.9% | +31.7% | +23.0% | +18.6% | +28.8% | +10.6% | +6.5% | +20.4% | +5.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −119.3% | −84.2% | −84.8% | −66.3% | −408.3% | — | — | — | — | — |
| Return on invested capital (ROIC) | −18.3% | −18.4% | −17.3% | −13.6% | −17.1% | −15.6% | −17.6% | −18.0% | −20.7% | −14.7% |
| Return on assets (ROA) | −24.8% | −25.7% | −28.8% | −22.2% | −33.4% | −50.1% | −40.4% | −38.7% | −50.7% | −43.0% |
| Return on tangible assets | −25.2% | −24.2% | −30.9% | −23.6% | −28.8% | −53.6% | −40.5% | −40.1% | −57.5% | −44.3% |
| Free cash flow margin | −162.5% | −233.8% | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $104.2M | $85.9M | $61.2M | $70.4M | $68.7M | $95.8M | $153.4M | $150.7M | $138.5M | $116.3M |
| Cash & short-term investments | $8.6M | $17.3M | $4.5M | $10.0M | $11.0M | $7.3M | $15.7M | $12.6M | $13.0M | $12.2M |
| Net debt | $95.6M | $68.6M | $56.7M | $60.4M | $57.8M | $88.6M | $137.7M | $138.2M | $125.4M | $104.1M |
| Debt / equity | 4.48 | 2.53 | 1.53 | 2.06 | 1.69 | — | — | — | — | — |
| Debt / assets | 0.74 | 0.64 | 0.57 | 0.64 | 0.61 | 1.29 | 2.00 | 2.17 | 2.08 | 1.73 |
| Current ratio | 1.22 | 1.79 | 1.37 | 2.21 | 5.26 | 2.56 | 3.35 | 3.14 | 2.08 | 3.42 |
| Quick ratio | 1.13 | 1.58 | 1.01 | 2.15 | 4.75 | 2.56 | 3.35 | 3.14 | 2.08 | 3.42 |
| Interest coverage | -2.8 | -2.9 | -3.8 | -2.0 | -1.8 | -1.0 | -0.7 | -0.7 | -0.8 | -0.6 |
| Working capital | $2.9M | $11.4M | $2.2M | $6.8M | $10.7M | $4.9M | $11.3M | $8.9M | $7.0M | $11.0M |
| Invested capital | $118.9M | $102.6M | $96.7M | $94.6M | $98.4M | $63.3M | $55.6M | $51.9M | $46.7M | $49.8M |
| Tangible asset value | $17.5M | $28.2M | $34.3M | $28.5M | $36.8M | −$29.1M | −$85.9M | −$90.1M | −$86.3M | −$61.9M |
| Net current asset value | −$101.6M | −$74.7M | −$59.4M | −$64.1M | −$58.7M | −$91.6M | −$142.7M | −$142.5M | −$131.7M | −$105.8M |
| Graham net-net per share | −$1.29 | −$1.14 | −$0.93 | −$1.32 | −$1.48 | −$2.70 | −$5.39 | −$5.96 | −$5.86 | −$5.83 |
| Capital allocation | ||||||||||
| Dividends paid | $5.1M | $5.1M | $5.1M | $5.1M | $1.4M | $1.4M | $1.4M | $1.4M | $0 | $0 |
| Share buybacks (net) | — | — | $261,000 | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Capex / revenue | 46.4% | 9.7% | 290.7% | 224.9% | 4,061.7% | 1,059.0% | 362.6% | 392.3% | 230.2% | 244.2% |
| Capex / depreciation | 4.69 | 0.68 | 4.23 | 5.02 | 52.30 | 15.04 | 6.03 | 6.69 | 3.67 | 3.45 |
| Stock-based compensation / revenue | 32.5% | 47.9% | 75.1% | 125.0% | 841.7% | 387.4% | 127.4% | 107.5% | 527.2% | 314.6% |
| SG&A / revenue | 180.7% | 253.4% | 975.9% | 1,022.1% | 3,130.0% | 2,202.2% | 2,758.5% | 2,591.4% | 2,929.7% | 2,264.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 114.1 | 104.3 | 124.5 | 88.0 | 105.2 | 35.1 | 36.0 | 30.7 | 31.3 | 100.1 |
| Days of inventory on hand | 68.0 | 128.2 | 153.1 | 141.6 | 536.7 | — | — | — | — | 0.0 |
| Days payables outstanding | 98.8 | 87.7 | 148.7 | 123.0 | 347.5 | — | — | — | 566.1 | 467.5 |
| Cash conversion cycle (days) | 83.3 | 144.8 | 128.9 | 106.7 | 294.3 | — | — | — | -534.8 | -367.4 |
| Receivables turnover | 3.20 | 3.50 | 2.93 | 4.15 | 3.47 | 10.40 | 10.14 | 11.89 | 11.65 | 3.65 |
| Payables turnover | 3.69 | 4.16 | 2.45 | 2.97 | 1.05 | 0.00 | 0.00 | 0.00 | 0.64 | 0.78 |
| Inventory turnover | 5.37 | 2.85 | 2.38 | 2.58 | 0.68 | 0.00 | — | 0.00 | — | 584,000.00 |
| Asset turnover | 0.12 | 0.08 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Average receivables | $5.1M | $2.7M | $679,000 | $362,000 | $162,500 | $52,000 | $43,500 | $37,000 | $37,500 | $113,000 |
| Average payables | $3.0M | $1.8M | $1.2M | $696,500 | $417,000 | $371,000 | $209,500 | $318,000 | $425,000 | $374,000 |
| Average inventory | $2.1M | $2.6M | $1.2M | $802,000 | $644,000 | $1 | — | $0 | $0 | $0 |
| Intangibles / total assets | 4.1% | 4.2% | 5.3% | 5.2% | 3.4% | 5.1% | 5.0% | 5.5% | 11.5% | 11.4% |
Computed from CDZI's annual financial statements (latest annual report filed March 31, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CDZI valuation and financial ratios
Cadiz earned a return on equity of −119.3% and a return on invested capital of −18.3% in fiscal 2025. It ended the year with $104.2 million of debt and $8.6 million in cash and short-term investments, net debt of $95.6 million. It returned $5.1 million to shareholders: $5.1 million in dividends and $0 in share buybacks. The share count rose 333.1% from 18.7M to 81.1M over 9 years.
See the CDZI income statement, the CDZI chart for price history, or the CDZI stock overview for the latest quote and news.
CDZI key metrics FAQ
What is Cadiz's return on equity?
Cadiz's return on equity (ROE) was −119.3% in fiscal 2025: net income of -$34.1 million on average shareholders' equity of $28.6 million.
What is Cadiz's ROIC?
Cadiz's return on invested capital was −18.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Cadiz have?
Cadiz had total debt of $104.2 million at the end of fiscal 2025, a debt-to-equity ratio of 4.48.
What is Cadiz's dividend yield?
Cadiz paid $5.1 million in dividends in fiscal 2025 ($0.06 per share), a payout ratio of —.
What is Cadiz's free cash flow yield?
Cadiz generated -$26.5 million of free cash flow in fiscal 2025, a free cash flow yield of −5.8% on its market value at year-end ($454.8 million).
What is Cadiz's current ratio?
Cadiz's current ratio was 1.22 at the end of fiscal 2025: current assets were 1.22 times current liabilities.