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CO-DIAGNOSTICS INC (CODX) Stock Fundamental Analysis

NASDAQ:CODX - Nasdaq - US1897631057 - Common Stock - Currency: USD

0.6108  -0.09 (-13.36%)

After market: 0.6096 0 (-0.2%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to CODX. CODX was compared to 189 industry peers in the Health Care Equipment & Supplies industry. While CODX has a great health rating, there are worries on its profitability. CODX is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

CODX had negative earnings in the past year.
CODX had a negative operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: CODX reported negative net income in multiple years.
In multiple years CODX reported negative operating cash flow during the last 5 years.
CODX Yearly Net Income VS EBIT VS OCF VS FCFCODX 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 0 20M -20M 40M -40M

1.2 Ratios

CODX has a worse Return On Assets (-57.04%) than 71.66% of its industry peers.
CODX has a Return On Equity (-64.73%) which is comparable to the rest of the industry.
Industry RankSector Rank
ROA -57.04%
ROE -64.73%
ROIC N/A
ROA(3y)-8.57%
ROA(5y)-49.58%
ROE(3y)-8.75%
ROE(5y)-65.46%
ROIC(3y)N/A
ROIC(5y)N/A
CODX Yearly ROA, ROE, ROICCODX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200 -200 400 -400 600

1.3 Margins

CODX has a Gross Margin (49.30%) which is comparable to the rest of the industry.
In the last couple of years the Gross Margin of CODX has declined.
CODX 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 49.3%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-20.84%
GM growth 5Y-12.46%
CODX Yearly Profit, Operating, Gross MarginsCODX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -20K -40K -60K

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7

2. Health

2.1 Basic Checks

CODX does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, CODX has more shares outstanding
CODX has more shares outstanding than it did 5 years ago.
There is no outstanding debt for CODX. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
CODX Yearly Shares OutstandingCODX Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M
CODX Yearly Total Debt VS Total AssetsCODX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M

2.2 Solvency

Based on the Altman-Z score of -0.01, we must say that CODX is in the distress zone and has some risk of bankruptcy.
CODX has a Altman-Z score (-0.01) which is comparable to the rest of the industry.
CODX has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z -0.01
ROIC/WACCN/A
WACC9.06%
CODX Yearly LT Debt VS Equity VS FCFCODX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M 100M

2.3 Liquidity

A Current Ratio of 6.92 indicates that CODX has no problem at all paying its short term obligations.
CODX has a Current ratio of 6.92. This is amongst the best in the industry. CODX outperforms 86.63% of its industry peers.
CODX has a Quick Ratio of 6.70. This indicates that CODX is financially healthy and has no problem in meeting its short term obligations.
The Quick ratio of CODX (6.70) is better than 88.77% of its industry peers.
Industry RankSector Rank
Current Ratio 6.92
Quick Ratio 6.7
CODX Yearly Current Assets VS Current LiabilitesCODX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M

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4

3. Growth

3.1 Past

CODX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.63%, which is quite good.
CODX shows a strong growth in Revenue. In the last year, the Revenue has grown by 57.10%.
Measured over the past years, CODX shows a very strong growth in Revenue. The Revenue has been growing by 179.41% on average per year.
EPS 1Y (TTM)8.63%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-60%
Revenue 1Y (TTM)57.1%
Revenue growth 3Y-54.96%
Revenue growth 5Y179.41%
Sales Q2Q%-73.91%

3.2 Future

The Earnings Per Share is expected to grow by 0.68% on average over the next years.
CODX is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -53.31% yearly.
EPS Next Y-2.84%
EPS Next 2Y0.68%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-39.83%
Revenue Next 2Y-53.31%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
CODX Yearly Revenue VS EstimatesCODX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
CODX Yearly EPS VS EstimatesCODX Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 0.5 -0.5 1 -1 1.5

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0

4. Valuation

4.1 Price/Earnings Ratio

CODX reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year CODX is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
CODX Price Earnings VS Forward Price EarningsCODX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30 40 50

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
CODX Per share dataCODX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y0.68%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for CODX!.
Industry RankSector Rank
Dividend Yield N/A

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CO-DIAGNOSTICS INC

NASDAQ:CODX (2/24/2025, 8:23:16 PM)

After market: 0.6096 0 (-0.2%)

0.6108

-0.09 (-13.36%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)11-07 2024-11-07/amc
Earnings (Next)03-12 2025-03-12/amc
Inst Owners18.02%
Inst Owner Change-99.84%
Ins Owners6.7%
Ins Owner Change5.96%
Market Cap19.50M
Analysts43.33
Price Target1.53 (150.49%)
Short Float %0.84%
Short Ratio1.27
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)2
Avg EPS beat(2)32.28%
Min EPS beat(2)4.93%
Max EPS beat(2)59.63%
EPS beat(4)2
Avg EPS beat(4)-31.31%
Min EPS beat(4)-145.1%
Max EPS beat(4)59.63%
EPS beat(8)4
Avg EPS beat(8)-56.39%
EPS beat(12)7
Avg EPS beat(12)-35.66%
EPS beat(16)10
Avg EPS beat(16)-18.26%
Revenue beat(2)2
Avg Revenue beat(2)331.13%
Min Revenue beat(2)67.62%
Max Revenue beat(2)594.64%
Revenue beat(4)2
Avg Revenue beat(4)143.36%
Min Revenue beat(4)-84.96%
Max Revenue beat(4)594.64%
Revenue beat(8)3
Avg Revenue beat(8)186.9%
Revenue beat(12)4
Avg Revenue beat(12)115.2%
Revenue beat(16)7
Avg Revenue beat(16)89.88%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.03%
EPS NY rev (1m)0%
EPS NY rev (3m)0.81%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)6.86%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.66
P/FCF N/A
P/OCF N/A
P/B 0.31
P/tB 0.52
EV/EBITDA N/A
EPS(TTM)-1.27
EYN/A
EPS(NY)-1.19
Fwd EYN/A
FCF(TTM)-0.84
FCFYN/A
OCF(TTM)-0.81
OCFYN/A
SpS0.23
BVpS2
TBVpS1.18
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -57.04%
ROE -64.73%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 49.3%
FCFM N/A
ROA(3y)-8.57%
ROA(5y)-49.58%
ROE(3y)-8.75%
ROE(5y)-65.46%
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
ROICexcg growth 3YN/A
ROICexcg 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-20.84%
GM growth 5Y-12.46%
F-Score4
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 85.73%
Cap/Sales 15.58%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 6.92
Quick Ratio 6.7
Altman-Z -0.01
F-Score4
WACC9.06%
ROIC/WACCN/A
Cap/Depr(3y)139.91%
Cap/Depr(5y)225.38%
Cap/Sales(3y)8.3%
Cap/Sales(5y)15.66%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)8.63%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-60%
EPS Next Y-2.84%
EPS Next 2Y0.68%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)57.1%
Revenue growth 3Y-54.96%
Revenue growth 5Y179.41%
Sales Q2Q%-73.91%
Revenue Next Year-39.83%
Revenue Next 2Y-53.31%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y3.89%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-288.93%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-266.27%
OCF growth 3YN/A
OCF growth 5YN/A