CODEXIS, INC.
CDXS· Nasdaq· Industrial Organic Chemicals
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- -33.9%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +0.4%
We record prices for the companies we cover; CDXS is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 87.1M
- Revenue
- $70.4M
- Free cash flow
- -$23.8M
- Owner earnings
- -$33.5M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- -59.3%
- Net
- -62.5%
- Free cash flow
- -33.9%
- Owner earnings
- -47.6%
- Stock pay
- 13.7%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- -87.0%
- ROE, 5 yr avg
- -61.7%
Growth (CAGR)
- Revenue, 3 yr
- -20.2%
- Revenue, 5 yr
- 0.4%
- Revenue, 9 yr
- 4.1%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $78.2M
- Total debt
- $40.1M
- Net cash
- $38.1M
- Debt/Equity
- 0.8x
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 8.0%
Financials: ten years from the 10-Ks
Revenue
$70.4M
+4.1% a year over 9 years
FY2016FY2025
Margins
Operating-59.3%Net-62.5%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow-$23.8MOwner earnings-$33.5M
FY2025
FY2016FY2025
Diluted shares
87.1M
+54.2% over 9 years, net dilution
FY2016FY2025
Net cash
$38.1M
$38.1M more cash than debt
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $48.8M | $50.0M | $60.6M | $68.5M | $69.1M | $104.8M | $138.6M | $70.1M | $59.3M | $70.4M |
| Revenue growth | 16.8% | 2.4% | 21.1% | 13.0% | 0.9% | 51.7% | 32.3% | -49.4% | -15.4% | 18.6% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | -17.5% | -45.9% | -18.6% | -18.3% | -34.6% | -21.7% | -25.2% | -97.0% | -98.6% | -59.3% |
| Net income | -$8.6M | -$23.0M | -$10.9M | -$11.9M | -$24.0M | -$21.3M | -$33.6M | -$76.2M | -$65.3M | -$44.0M |
| Net margin | -17.5% | -46.0% | -18.0% | -17.4% | -34.8% | -20.3% | -24.2% | -108.7% | -110.0% | -62.5% |
| Diluted EPS | – | – | – | $-0.21 | $-0.40 | $-0.33 | $-0.51 | $-1.12 | $-0.89 | $-0.50 |
| Return on invested capital? | – | – | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | -$1.9M | -$8.8M | -$14.1M | -$12.6M | -$16.5M | -$14.3M | $11.3M | -$52.6M | -$49.4M | -$19.4M |
| Capital expenditure | $888.0K | $985.0K | $2.8M | $3.7M | $3.7M | $13.8M | $8.3M | $4.4M | $4.3M | $4.5M |
| Free cash flow | -$2.7M | -$9.7M | -$16.9M | -$16.3M | -$20.2M | -$28.1M | $3.0M | -$57.1M | -$53.7M | -$23.8M |
| Stock-based compensation | $5.7M | $7.1M | $7.9M | $6.9M | $7.7M | $11.6M | $14.5M | $10.0M | $13.1M | $9.6M |
| Owner earnings? | -$8.4M | -$16.8M | -$24.8M | -$23.2M | -$27.9M | -$39.7M | -$11.6M | -$67.0M | -$66.8M | -$33.5M |
| Free cash flow per share | – | – | – | $-0.29 | $-0.34 | $-0.44 | $0.05 | $-0.84 | $-0.73 | $-0.27 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | – | – | – | – | – | – | – | – | – | – |
| Diluted shares | – | – | – | 56.5M | 59.4M | 64.6M | 65.3M | 68.1M | 73.4M | 87.1M |
| Share count change? | – | – | – | – | 5.0% | 8.8% | 1.2% | 4.3% | 7.7% | 18.7% |
| Balance sheet | ||||||||||
| Cash and equivalents | $19.2M | $31.2M | $53.0M | $90.5M | $149.1M | $116.8M | $114.0M | $65.1M | $19.3M | $50.8M |
| Short-term investments | – | – | – | – | – | – | – | $0 | $54.2M | $27.4M |
| Total debt | $0 | $302.0K | – | – | – | – | – | $0 | $28.9M | $40.1M |
| Net debt | -$19.2M | -$30.9M | – | – | – | – | – | -$65.1M | -$44.6M | -$38.1M |
| Shareholders' equity | $19.1M | $24.5M | $56.3M | $105.5M | $170.1M | $164.4M | $144.8M | $86.6M | $66.9M | $50.5M |
Latest filings
| 2026-08-11 | 10-Q | Quarterly report |
| 2026-08-11 | 8-K | Earnings release |
| 2026-07-23 | 8-K | Earnings release |
| 2026-05-07 | 10-Q | Quarterly report |
| 2026-05-07 | 8-K | Earnings release |
| 2026-04-28 | DEF 14A | Proxy statement |
| 2026-03-11 | 10-K | Annual report |
| 2026-03-11 | 8-K | Earnings release |
| 2025-11-06 | 10-Q | Quarterly report |
| 2025-11-06 | 8-K | Earnings release |
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