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Co-Diagnostics, Inc.

CODX

$1.50 ▲ +0.08 (+5.63%) at close

11 Visible periods

31 Metrics

Peer-ranked Benchmarks

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Poor

Bearish

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Analytical Summary

Co-Diagnostics, Inc. faces fundamental challenges with weakness in Return on Common Equity (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $2.0M

Dividend Yield —

Revenue Growth -84.1% ↘

Op. Margin None

ROIC -235.1% ↘

FCF / Share $-22.43 ↘

Trailing P/E —

Price / Book 0.1x

FCF Yield —

Debt / Equity —

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

11-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$622.49K

↓ -84.1% —

Net Income Profit after all expenses

$-46.90M

↓ -24.6% —

Operating Margin Operating profit as % of sales

-78.8%

↓ -267.5% —

FCF / Share Free cash flow per share

$-22.43

↓ -2175.4% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

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

Health Breakdown

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📈 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 ↗
Revenue Growth YoY (%)	-84.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1151%)	-42.5% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-632%)	-80.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1101%)	-65.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-913%)	31.3% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+291%)	34579.9% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+432149%)	438.6% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+5383%)	420.9% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+5161%)	—	—	—
EPS Growth YoY (%)	-2742.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-3.3% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-166.7% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	-20.1% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—	—	—	—
Net Income Growth YoY (%)	-24.6% Weak ↑ Weak Improving Year-over-year change in net income	-6.5% Weak ↑ Weak Improving Year-over-year change in net income	-148.2% Weak Weak Year-over-year change in net income	N/M	-13.7% Weak ↓ Weak Declining Year-over-year change in net income	N/M	1.2% Caution ↑ Caution Improving Year-over-year change in net income	9.9% Fair Fair Year-over-year change in net income	-260.8% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	-2175.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	-23.4% Weak ↑ Weak Improving Year-over-year change in free cash flow	N/M	-88.3% Weak Weak Year-over-year change in free cash flow	36.5% Excellent Excellent Year-over-year change in free cash flow	N/M	—	—	—	—	—
Revenue CAGR 3Y (%)	-73.7% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-65.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-55.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	441.9% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	1248.6% Excellent Excellent Compound annual revenue growth over 3 years	2034.9% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—
Revenue CAGR 5Y (%)	-61.6% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	78.7% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	179.5% Excellent Excellent Compound annual revenue growth over 5 years	437.0% Excellent Excellent 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 ↗
Operating Margin (%) (%)	—	—	—	-78.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-626%)	47.1% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+214%)	55.9% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+273%)	—	—	—	—	—
Effective Tax Rate (%) (%)	3.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.2% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	7.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.5% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	19.7% Good Good Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.2% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—
Profit Margin (%) (%)	—	—	—	-41.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-447%)	37.5% Excellent Excellent Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+212%)	57.0% Excellent Excellent Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+375%)	—	—	—	—	—
FCF Margin (%) (%)	—	—	-344.2% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	15.0% Good ↓ Good Declining Free cash flow as a percentage of revenue Optimal: > 10%	41.3% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	36.7% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—
FCF / Net Income (x)	0.64x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.79x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.66x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.36x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.10x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.64x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.91x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.66x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.48x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.69x Weak Weak 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 ↗
Return on Invested Capital (%)	-235.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-73.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-46.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-17.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	27.5% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	62.4% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	-268.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-568.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-93.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	44.5% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-202.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-62.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-44.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-21.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	28.8% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	58.5% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	-266.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-393.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-97.9% Weak Weak Operating profit relative to total assets Optimal: > 10%	-130.3% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	-227.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1616%)	-69.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-562%)	-41.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-374%)	-12.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-183%)	27.3% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+82%)	63.7% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+325%)	—	—	-180.7% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1305%)	64.4% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+329%)	—

⚖️ 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 ↗
Debt to Equity (x)	—	—	—	—	—	—	—	-1.80x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-400%)	—	—	—
Interest Coverage (x)	—	—	—	—	—	—	-55.37x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-86.17x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-14.71x Weak Weak Operating income divided by interest expense Optimal: > 5x	-7.01x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-11.88M	$-2.94M	$-14.92M	$-22.97M	$-88.61M	$-42.98M	$-893.14K	$958.34K	$-3.53M	$-998.74K	$-33.80K
Debt / EBITDA (x)	—	—	—	—	—	—	—	-0.31x 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 ↗
Revenue per Share (USD)	$0.47	$0.13	$0.23	$1.09	$3.39	$2.79	$0.01	—	—	—	—
Basic EPS, GAAP (USD)	$-35.25	$-1.24	$-1.20	$-0.45	$1.27	$1.59	$-0.37	—	—	—	—
Free Cash Flow per Share (USD)	$-22.43	$-0.99	$-0.80	$0.16	$1.40	$1.03	$-0.34	—	—	—	—
Book Value per Share (USD)	$15.51	$1.64	$2.75	$3.71	$3.98	$2.34	$0.10	$-0.08	$0.31	$-0.30	—
Tangible Book Value per Share (USD)	$10.08	$0.85	$1.91	$2.84	$2.74	$2.34	$0.10	$-0.08	$0.31	$-0.30	—
Basic Weighted Avg Shares (shares)	1.33M	30.34M	29.35M	31.48M	28.87M	26.72M	16.76M	—	—	—	—

🏦 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 ↗
Working Capital (USD)	$10.15M	$24.98M	$56.39M	$88.86M	$102.52M	$63.75M	$1.26M	$-1.30M	$3.82M	$-2.64M	—
LT Debt (USD)	—	—	—	—	—	—	—	$1.91M	—	—	—
Total Equity (USD)	$20.63M	$54.31M	$86.01M	$114.52M	$134.48M	$66.70M	$1.74M	$-1.06M	$3.85M	$-2.99M	$-1.15M

📋 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 ↗
Sales/Revenue/Turnover (USD)	$622.49K	$3.92M	$6.81M	$34.22M	$97.89M	$74.55M	$214.97K	$39.91K	$7.66K	—	—
Depreciation Expense (USD)	—	$1.38M	$1.23M	$1.28M	$335.36K	$138.63K	$65.90K	$50.77K	$45.76K	$37.49K	—
Net Income, GAAP (USD)	$-46.90M	$-37.64M	$-35.33M	$-14.24M	$36.66M	$42.48M	$-6.20M	$-6.27M	$-6.96M	$-1.93M	—
Operating Cash Flow (USD)	$-29.14M	$-29.16M	$-22.08M	$6.57M	$41.08M	$28.17M	$-5.53M	$-4.08M	$-3.21M	$-1.31M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 11 years · 41 quarters

Co-Diagnostics, Inc.

Analytical Summary

11-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

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