Co-Diagnostics, Inc. (CODX) Key Metrics
CODX valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $4.6M
- Enterprise value
- $5.8M
- P/E (TTM)
- —
- Forward P/E
- 15.4
- PEG ratio
- —
- Price / sales
- 6.3
- Price / book
- 0.6
- EV / EBITDA
- 0.5
- Dividend yield
- —
- Beta
- 2.90
CODX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCODX returns How much profit the business earns on the capital it uses.
CODX financial health Debt, liquidity and how easily interest is covered.
CODX efficiency & capital use Working capital cycle and where the cash goes.
CODX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CODX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CODX cash returned to shareholders
CODX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Share price at fiscal year-end | $5.06 | $22.50 | $39.90 | $75.60 | $267.90 | $279.00 | $26.86 | $44.70 | $79.20 | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −125.2% | −53.6% | −35.2% | −11.4% | 36.4% | 124.1% | — | — | — | — |
| Return on invested capital (ROIC) | −134.7% | −110.8% | −105.3% | −50.6% | 105.6% | 411.4% | — | — | — | — |
| Return on assets (ROA) | −105.7% | −47.2% | −32.4% | −10.1% | 31.7% | 115.7% | −328.8% | −201.8% | −233.6% | −231.4% |
| Return on tangible assets | −267.6% | −99.3% | −51.3% | −14.8% | 31.0% | 59.6% | −279.7% | −403.8% | −149.3% | −148.8% |
| Free cash flow margin | — | −763.8% | −344.2% | 15.0% | 41.3% | 36.7% | — | — | — | — |
| Income quality (OCF / net income) | — | — | — | — | 1.12 | 0.66 | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $1.2M | $2.2M | $3.0M | $347,917 | $6.1M | — | — | $1.9M | $0 | $3.4M |
| Cash & short-term investments | $11.9M | $29.7M | $58.5M | $81.3M | $89.9M | $47.3M | $893,138 | $950,237 | $3.5M | $998,737 |
| Net debt | −$10.6M | −$27.6M | −$55.6M | −$80.9M | −$83.8M | −$47.3M | −$893,138 | $958,335 | −$3.5M | $2.4M |
| Debt / equity | 0.06 | 0.04 | 0.03 | 0.00 | 0.05 | — | — | — | 0.00 | — |
| Debt / assets | 0.05 | 0.03 | 0.03 | 0.00 | 0.04 | — | — | 1.23 | 0.00 | 2.62 |
| Net debt / EBITDA | — | — | — | — | −1.82 | −1.13 | — | — | — | — |
| Current ratio | 3.87 | 4.41 | 10.81 | 23.94 | 9.14 | 16.83 | 4.83 | 0.45 | 7.09 | 0.31 |
| Quick ratio | 3.59 | 4.27 | 10.52 | 22.57 | 8.98 | 14.86 | 4.23 | 0.44 | 7.07 | 0.31 |
| Interest coverage | — | — | — | -1.8 | 97.3 | — | -55.4 | -45.3 | -14.7 | -7.0 |
| Working capital | $10.2M | $25.0M | $56.4M | $88.9M | $102.5M | $64.3M | $1.3M | −$1.3M | $3.8M | −$2.6M |
| Invested capital | $10.0M | $26.7M | $30.5M | $33.6M | $50.7M | $19.4M | $844,118 | −$100,476 | $316,070 | −$599,251 |
| Tangible asset value | $13.4M | $28.2M | $59.6M | $87.8M | $92.6M | $66.7M | $1.7M | −$1.1M | $3.9M | −$3.0M |
| Net current asset value | $9.6M | $22.6M | $52.8M | $84.2M | $89.6M | $63.8M | $1.1M | −$1.6M | $3.6M | −$3.1M |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | — |
| Share buybacks (net) | — | $0 | $1.4M | $14.2M | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends + buybacks / free cash flow | — | — | — | 276.4% | 0.0% | 0.0% | — | — | — | — |
| Capex / revenue | 112.5% | 19.1% | 20.0% | 4.2% | 0.7% | 1.0% | 52.7% | 103.6% | 1,687.6% | — |
| Capex / operating cash flow | — | — | — | 21.7% | 1.6% | 2.7% | — | — | — | — |
| Capex / depreciation | 0.63 | 0.54 | 1.11 | 1.11 | 2.00 | 5.59 | 1.72 | 0.81 | 2.83 | 0.33 |
| Stock-based compensation / revenue | 361.1% | 138.8% | 122.4% | 22.0% | 5.6% | 3.7% | 506.3% | 3,338.4% | 26,546.0% | — |
| R&D / revenue | 3,074.3% | 535.9% | 337.1% | 51.0% | 15.3% | 4.3% | 638.0% | 3,410.5% | 13,092.8% | — |
| SG&A / revenue | 1,837.7% | 527.2% | 310.3% | 63.1% | 25.5% | 17.4% | 2,120.7% | 11,867.4% | 45,973.7% | — |
| Efficiency | ||||||||||
| Days sales outstanding | 94.7 | 21.6 | 153.5 | 140.3 | 61.6 | 30.0 | 122.9 | 122.7 | — | — |
| Days of inventory on hand | 1,694.8 | 500.0 | 304.2 | 243.6 | 157.7 | 90.1 | 349.5 | 529.0 | 10,959.7 | — |
| Days payables outstanding | 4,244.9 | 872.5 | 106.2 | 51.9 | 19.0 | 6.6 | 251.5 | 3,688.2 | 88,079.2 | 992.0 |
| Cash conversion cycle (days) | -2,455.5 | -350.8 | 351.5 | 332.0 | 200.3 | 113.5 | 221.0 | -3,036.5 | — | — |
| Receivables turnover | 3.86 | 16.90 | 2.38 | 2.60 | 5.92 | 12.15 | 2.97 | 2.97 | — | 0.00 |
| Payables turnover | 0.09 | 0.42 | 3.44 | 7.03 | 19.20 | 54.91 | 1.45 | 0.10 | 0.00 | 0.37 |
| Inventory turnover | 0.22 | 0.73 | 1.20 | 1.50 | 2.32 | 4.05 | 1.04 | 0.69 | 0.03 | — |
| Asset turnover | 0.01 | 0.05 | 0.06 | 0.24 | 0.85 | 2.03 | 0.11 | 0.01 | 0.00 | 0.00 |
| Average receivables | $161,472 | $231,726 | $2.9M | $13.2M | $16.5M | $6.1M | $72,401 | $13,420 | — | $2,592 |
| Average payables | $2.6M | $2.4M | $1.2M | $779,901 | $602,912 | $302,138 | $77,463 | $94,893 | $72,876 | $101,896 |
| Average inventory | $1.0M | $1.4M | $3.5M | $3.7M | $5.0M | $4.1M | $107,660 | $13,610 | $9,068 | — |
| Intangibles / total assets | 29.2% | 40.8% | 27.7% | 21.7% | 26.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from CODX'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.
CODX valuation and financial ratios
Co-Diagnostics earned a return on equity of −125.2% and a return on invested capital of −134.7% in fiscal 2025. It ended the year with $1.2 million of debt and $11.9 million in cash and short-term investments, a net cash position of $10.6 million.
See the CODX income statement, the CODX chart for price history, or the CODX stock overview for the latest quote and news.
CODX key metrics FAQ
What is Co-Diagnostics's return on equity?
Co-Diagnostics's return on equity (ROE) was −125.2% in fiscal 2025: net income of -$46.9 million on average shareholders' equity of $37.5 million.
What is Co-Diagnostics's ROIC?
Co-Diagnostics's return on invested capital was −134.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Co-Diagnostics have?
Co-Diagnostics had total debt of $1.2 million at the end of fiscal 2025, a debt-to-equity ratio of 0.06 and more cash than debt.
What is Co-Diagnostics's current ratio?
Co-Diagnostics's current ratio was 3.87 at the end of fiscal 2025: current assets were 3.87 times current liabilities.