arrow_back Back Filing freshness 10-Q FY 2025 SEC EDGAR

download Export Data

CODEXIS, INC.

CDXS

$1.48 0.00 (-0.34%) at close

18 Visible periods

31 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

auto_awesome

Analytical Summary

CODEXIS, INC. faces fundamental challenges with weakness in Return on Common Equity (%) and Profit Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $129.0M

Dividend Yield —

Revenue Growth 18.6% ↗

Op. Margin -59.3% ↗

ROIC -46.1% ↗

FCF / Share $-0.27 ↗

Trailing P/E —

Price / Book 2.7x

FCF Yield —

Debt / Equity 0.79

info Valuation on last close. End-of-day price, Aug 7, 2026.

18-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$70.39M

↑ +18.6% —

Net Income Profit after all expenses

$-43.97M

↑ +32.6% —

Operating Margin Operating profit as % of sales

-59.3%

↑ +39.9% 4th

FCF / Share Free cash flow per share

$-0.27

↑ +62.6% —

Long-Term Debt Long-term obligations

$40.10M

↑ +38.7% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile
Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Profitability ↓

Returns ↓

Financial Health ↑

Cash Quality ↓

Financial view

Statement lens

Choose the reporting cadence, isolate a period range, or search directly for a metric.

Cadence

Annual Quarterly

Range

→

📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue Growth YoY (%)	18.6% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+272%)	-15.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-408%)	-49.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1088%)	32.3% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+546%)	51.7% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+934%)	0.9% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-83%)	13.0% Good → Good Stable Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+160%)	21.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+323%)	2.4% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-51%)	16.8% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+236%)	18.4% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+268%)	10.6% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+112%)	-63.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1377%)	-28.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-674%)	15.6% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+213%)	29.2% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+484%)	—	—
EPS Growth YoY (%)	43.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	20.5% Good ↑ Good Improving Year-over-year change in earnings per share Optimal: > 10%	-119.6% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-54.5% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	17.5% Good Good Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income Growth YoY (%)	32.6% Excellent ↑ Excellent Improving Year-over-year change in net income	14.4% Fair ↑ Fair Improving Year-over-year change in net income	-127.0% Weak ↓ Weak Declining Year-over-year change in net income	-57.9% Weak ↓ Weak Declining Year-over-year change in net income	11.4% Fair ↑ Fair Improving Year-over-year change in net income	-101.2% Weak ↓ Weak Declining Year-over-year change in net income	-9.7% Weak ↑ Weak Improving Year-over-year change in net income	52.7% Excellent ↑ Excellent Improving Year-over-year change in net income	-168.7% Weak ↓ Weak Declining Year-over-year change in net income	-12.9% Weak ↓ Weak Declining Year-over-year change in net income	60.2% Excellent ↑ Excellent Improving Year-over-year change in net income	53.8% Excellent ↑ Excellent Improving Year-over-year change in net income	-33.9% Weak ↑ Weak Improving Year-over-year change in net income	-86.4% Weak ↓ Weak Declining Year-over-year change in net income	-93.8% Weak Weak Year-over-year change in net income	57.9% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	62.6% Excellent Excellent Year-over-year change in free cash flow	12.6% Fair Fair Year-over-year change in free cash flow	N/M	N/M	-27.8% Weak Weak Year-over-year change in free cash flow	—	—	—	—	—	—	—	-56.8% Weak Weak Year-over-year change in free cash flow	-28.1% Weak Weak Year-over-year change in free cash flow	—	—	—	—
Revenue CAGR 3Y (%)	-20.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-17.3% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	0.5% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	26.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	20.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	11.3% Good ↓ Good Declining Compound annual revenue growth over 3 years	11.9% Good ↓ Good Declining Compound annual revenue growth over 3 years	13.2% Good ↑ Good Improving Compound annual revenue growth over 3 years	12.3% Good ↑ Good Improving Compound annual revenue growth over 3 years	15.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	-22.1% Weak → Weak Stable Compound annual revenue growth over 3 years	-34.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-33.2% Weak Weak Compound annual revenue growth over 3 years	2.1% Caution Caution Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	0.4% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-2.8% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	3.0% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	22.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	16.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	10.6% Good ↑ Good Improving Compound annual revenue growth over 5 years	14.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	13.7% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	-10.7% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-17.0% Weak → Weak Stable Compound annual revenue growth over 5 years	-17.2% Weak Weak Compound annual revenue growth over 5 years	-15.7% Weak Weak Compound annual revenue growth over 5 years	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Operating Margin (%) (%)	-59.3% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-495%)	-98.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-757%)	-97.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-747%)	-25.2% Weak → Weak Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-268%)	-21.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-244%)	-34.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-331%)	-18.3% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-222%)	-18.6% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-224%)	-45.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-406%)	-17.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-217%)	-18.6% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-224%)	-54.1% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-461%)	-128.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-959%)	-34.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-330%)	-12.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-186%)	-6.7% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-144%)	-22.2% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-248%)	—
Effective Tax Rate (%) (%)	-0.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.8% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.9% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.4% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	-62.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-725%)	-110.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1200%)	-108.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1187%)	-24.2% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-342%)	-20.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-303%)	-34.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-448%)	-17.4% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-274%)	-18.0% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-280%)	-46.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-560%)	-17.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-275%)	-18.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-281%)	-54.0% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-640%)	-129.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1394%)	-34.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-449%)	-13.4% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-234%)	-8.0% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-180%)	-24.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-345%)	—
FCF Margin (%) (%)	-33.9% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-90.5% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-81.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	2.1% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-26.8% Weak → Weak Stable Free cash flow as a percentage of revenue Optimal: > 10%	-29.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-23.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-27.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-19.5% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-7.3% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-3.9% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	0.1% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-75.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-16.8% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-9.1% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-21.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-23.5% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	0.54x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.82x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.75x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	-0.09x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.32x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	0.84x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.36x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	1.55x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.42x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.42x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.22x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.00x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.59x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.48x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.68x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	2.74x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	0.96x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Return on Invested Capital (%)	-46.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-61.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-78.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-24.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-13.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-14.3% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-9.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-15.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-73.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-35.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-26.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-57.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-78.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-30.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-12.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-5.2% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	10.0% Good Good Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-28.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-39.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-49.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-13.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-9.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-10.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-8.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-14.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-42.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-24.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-17.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-39.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-69.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-30.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-11.7% Weak Weak Operating profit relative to total assets Optimal: > 10%	-5.0% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-87.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-825%)	-97.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-913%)	-88.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-834%)	-23.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-293%)	-12.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-208%)	-14.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-218%)	-11.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-194%)	-19.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-261%)	-93.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-881%)	-44.8% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-473%)	-33.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-376%)	-72.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-704%)	-99.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-930%)	-39.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-428%)	-16.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-234%)	-8.0% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-166%)	14.0% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+17%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Debt to Equity (x)	0.79x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+59%)	0.43x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-14%)	0.00x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	—	—	—	—	—	—	0.00x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	—	—	—	—	—	—	—	—
Interest Coverage (x)	-13.25x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-22.81x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-1547.02x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-1025.91x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-1621.21x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-460.00x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-256.10x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-134.46x Weak Weak Operating income divided by interest expense Optimal: > 5x	-162.91x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	-3165.08x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—
Net Debt (USD)	$-10.69M	$9.64M	$-65.12M	$-113.98M	$-116.80M	$-149.12M	$-90.50M	$-53.04M	$-31.22M	$-19.24M	$-23.27M	$-26.49M	$-22.13M	$-32.00M	$-25.76M	$-72.40M	$-31.79M	$-21.90M
Debt / EBITDA (x)	-1.10x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.54x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.00x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	0.00x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue per Share (USD)	$0.81	$0.81	$1.03	$2.12	$1.62	$1.16	—	—	—	—	—	—	$0.83	$2.40	$3.47	—	—	—
Basic EPS, GAAP (USD)	$-0.50	$-0.89	$-1.12	$-0.51	$-0.33	$-0.40	—	—	—	—	—	—	—	—	—	—	—	—
Free Cash Flow per Share (USD)	$-0.27	$-0.73	$-0.84	$0.05	$-0.44	$-0.34	—	—	—	—	—	—	$-0.63	$-0.40	$-0.31	—	—	—
Book Value per Share (USD)	$0.56	$0.82	$1.24	$2.20	$2.52	$2.65	$1.79	$1.04	$0.51	$0.46	$0.57	$0.67	$1.08	$2.08	$2.85	$3.08	—	—
Tangible Book Value per Share (USD)	$0.53	$0.79	$1.20	$2.15	$2.48	$2.60	$1.74	$0.98	$0.44	$0.38	$0.49	$0.58	$1.00	$2.00	$2.76	$2.41	—	—
Basic Weighted Avg Shares (shares)	87.14M	73.41M	68.13M	65.34M	64.57M	59.36M	—	—	—	—	—	—	38.23M	36.77M	35.67M	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Working Capital (USD)	$71.50M	$75.12M	$57.64M	$113.83M	$128.52M	$159.44M	$98.82M	$50.09M	$20.09M	$14.86M	$18.00M	$19.27M	$24.58M	$43.49M	$50.94M	$64.71M	—	—
LT Debt (USD)	$40.10M	$28.91M	$0.00	—	—	—	—	—	—	$0.00	—	—	—	—	—	—	—	—
Total Equity (USD)	$50.53M	$66.93M	$86.61M	$144.80M	$164.39M	$170.10M	$105.52M	$56.31M	$24.55M	$19.10M	$22.88M	$26.31M	$41.48M	$78.44M	$102.69M	$107.36M	$-144.84M	$-129.12M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Sales/Revenue/Turnover (USD)	$70.39M	$59.34M	$70.14M	$138.59M	$104.75M	$69.06M	$68.46M	$60.59M	$50.02M	$48.84M	$41.80M	$35.31M	$31.92M	$88.30M	$123.86M	$107.10M	$82.91M	—
Depreciation Expense (USD)	$5.25M	$4.95M	$5.52M	$5.40M	$3.11M	$1.95M	$1.57M	$1.15M	$1.04M	—	—	—	—	—	—	—	—	—
Net Income, GAAP (USD)	$-43.97M	$-65.28M	$-76.24M	$-33.59M	$-21.28M	$-24.01M	$-11.94M	$-10.88M	$-23.00M	$-8.56M	$-7.58M	$-19.07M	$-41.30M	$-30.86M	$-16.55M	$-8.54M	$-20.29M	—
Operating Cash Flow (USD)	$-19.38M	$-49.41M	$-52.64M	$11.28M	$-14.27M	$-16.46M	$-12.56M	$-14.09M	$-8.76M	$-2.70M	$-433.00K	$321.00K	$-23.00M	$-11.89M	$-490.00K	$-16.38M	$-8.79M	—

⌨️ Keyboard Shortcuts

/ Search

Esc Clear

A Annual

Q Quarterly

1-7 Jump to category

R Reset

bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 18 years · 67 quarters

CODEXIS, INC.

Analytical Summary

18-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

Benchmark Lens

Signals

Percentile Rankings

Peer Comparison

Compare CDXS with peers