CorMedix Inc.
CRMD· Nasdaq· Pharmaceutical Preparations
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 55.4%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +319.7%
We record prices for the companies we cover; CRMD is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 80,308
- Revenue
- $311.7M
- Free cash flow
- $172.8M
- Owner earnings
- $159.0M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- 88.5%
- Operating
- 48.2%
- Net
- 52.3%
- Free cash flow
- 55.4%
- Owner earnings
- 51.0%
- Stock pay
- 4.4%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- 40.2%
- ROE, 5 yr avg
- -29.2%
Growth (CAGR)
- Revenue, 3 yr
- 1582.8%
- Revenue, 5 yr
- 319.7%
- Revenue, 9 yr
- 123.5%
- 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
- $148.5M
- Total debt
- $144.6K
- Net cash
- $148.4M
- Debt/Equity
- 0.0x
- Debt/FCF
- 0.0x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- –
Financials: ten years from the 10-Ks
Revenue
$311.7M
+123.5% a year over 9 years
FY2016FY2025
Margins
Gross88.5%Operating48.2%Net52.3%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$172.8MOwner earnings$159.0M
FY2025
FY2016FY2025
Diluted shares
80,308
+113.2% over 9 years, net dilution
FY2016FY2025
Net cash
$148.4M
$148.4M 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 | $224.1K | $329.3K | $429.8K | $283.3K | $239.2K | $190.9K | $65.4K | – | $43.5M | $311.7M |
| Revenue growth | 6.7% | 47.0% | 30.5% | -34.1% | -15.5% | -20.2% | -65.7% | – | – | 617.0% |
| Gross margin | -63.6% | 65.1% | 7.7% | -31.8% | 14.4% | 22.0% | 94.3% | – | 92.7% | 88.5% |
| Operating margin | -11048.8% | -9997.4% | -6250.4% | -7416.3% | -11378.4% | -15417.5% | -46819.9% | – | -51.4% | 48.2% |
| Net income | -$24.6M | -$33.0M | -$26.8M | -$16.4M | -$22.0M | -$28.2M | -$29.7M | -$46.3M | -$17.9M | $163.1M |
| Net margin | -10996.5% | -10023.4% | -6242.4% | -5801.3% | -9207.7% | -14774.7% | -45409.9% | – | -41.2% | 52.3% |
| Diluted EPS | – | – | – | – | – | $-750.00s | $-740.00s | $-910.00s | $-0.30 | $2.04 |
| Return on invested capital? | – | – | – | – | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | -$22.3M | -$28.6M | -$23.7M | -$15.1M | -$22.0M | -$21.2M | -$24.4M | -$38.4M | -$50.6M | $175.0M |
| Capital expenditure | $58.7K | $152.0K | $48.9K | $36.6K | $112.6K | $1.4M | $219.4K | $327.3K | $116.0K | $2.3M |
| Free cash flow | -$22.3M | -$28.7M | -$23.7M | -$15.1M | -$22.1M | -$22.6M | -$24.6M | -$38.7M | -$50.7M | $172.8M |
| Stock-based compensation | $1.3M | $1.7M | $1.1M | $2.4M | $2.5M | $5.0M | $4.1M | $5.5M | $6.1M | $13.8M |
| Owner earnings? | -$23.7M | -$30.4M | -$24.9M | -$17.5M | -$24.6M | -$27.6M | -$28.6M | -$44.2M | -$56.9M | $159.0M |
| Free cash flow per share | – | – | – | – | – | $-599.49 | $-610.22 | $-760.99 | $-861.72 | $2,151.54 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | – | – | – | – | – | – | – | – | – | – |
| Diluted shares | – | – | – | – | – | 37,666.081s | 40,274.273s | 50,902.931s | 58,872 | 80,308 |
| Share count change? | – | – | – | – | – | – | 6.9% | 26.4% | 15.7% | 36.4% |
| Balance sheet | ||||||||||
| Cash and equivalents | $8.1M | $10.4M | $17.6M | $16.4M | $41.9M | $53.3M | $43.1M | $43.6M | $40.7M | $144.8M |
| Short-term investments | $12.1M | $1.6M | $0 | $12.0M | $4.4M | $12.1M | $15.6M | $32.4M | $11.0M | $3.7M |
| Total debt | – | $0 | $6.1M | – | – | – | – | – | – | $144.6K |
| Net debt | – | -$12.0M | -$11.5M | – | – | – | – | – | – | -$148.4M |
| Shareholders' equity | $17.8M | $7.2M | $4.9M | $23.6M | $44.2M | $62.8M | $55.1M | $70.1M | $84.7M | $405.3M |
Latest filings
| 2026-08-13 | 10-Q | Quarterly report |
| 2026-08-13 | 8-K | Earnings release |
| 2026-05-14 | 10-Q | Quarterly report |
| 2026-05-14 | 8-K | Earnings release |
| 2026-04-29 | DEF 14A | Proxy statement |
| 2026-03-05 | 10-K | Annual report |
| 2026-03-05 | 8-K | Earnings release |
| 2026-01-08 | 8-K | Earnings release |
| 2025-11-12 | 10-Q | Quarterly report |
| 2025-11-12 | 8-K | Earnings release |
More from our coverage
- MSFTPlatforms8.4MicrosoftThe most entrenched software franchise in the enterprise, now spending its cash flow on AI capacity; a great business we would own with a margin of safety, not at any price.Base value $410.29
- NVDAAI infrastructure8.4NVIDIAThe best business in technology at the top of its cycle: the moat is CUDA as much as silicon, but today's margins are a peak, not a floor.Base value $104.32
- AAPLHardware7.6AppleOne of the highest-quality businesses in the world growing in the low single digits; the price usually assumes more growth than the numbers show.Base value $134.27
- GOOGLPlatforms7.4AlphabetSearch pays for everything, and AI is both its biggest threat and its biggest opportunity; the price has to allow for search being worth less than it was.Base value $209.60
- NOWSoftware7.4ServiceNowA rare enterprise platform still growing above 20% with high retention; the free cash flow is real but stock pay takes a large share of it.Base value $189.13
- ADBESoftware7.4AdobeSuperb margins and a shrinking share count, priced for decline; the question is whether AI makes Adobe's tools more valuable or makes them unnecessary.Base value $449.35
