Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -125.2%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3M | $7M | $758384 | $1M | $3M | $9M | $9M | $499915 | $620069 | $964508 | — |
| Enterprise Value | $-7600696 | $-3919896 | $-25982 | $-10625278 | $-19981647 | $-79705899 | $-34296605 | $-393223 | $2M | $-2569946 | — |
| P/E Ratio → | -0.08 | — | — | — | — | 0.24 | 6.12 | — | — | — | — |
| P/S Ratio | 4.90 | 10.81 | 0.19 | 0.19 | 0.08 | 0.09 | 0.12 | 2.33 | 15.54 | 125.88 | — |
| P/B Ratio | 0.18 | 0.33 | 0.01 | 0.02 | 0.02 | 0.07 | 0.13 | 0.29 | — | 0.25 | — |
| P/FCF | — | — | — | — | 0.51 | 0.22 | 0.32 | — | — | — | — |
| P/OCF | — | — | — | — | 0.40 | 0.22 | 0.31 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -6.30 | -0.01 | -1.56 | -0.58 | -0.81 | -0.46 | -1.83 | 39.55 | -335.41 | — |
| EV / EBITDA | — | — | — | — | — | -1.72 | -0.82 | — | — | — | — |
| EV / EBIT | — | — | — | — | — | -1.73 | -0.82 | — | — | — | — |
| EV / FCF | — | — | — | — | -3.89 | -1.97 | -1.25 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.3% | 64.3% | 74.5% | 38.6% | 84.0% | 88.2% | 77.7% | 47.7% | 76.5% | 96.1% | — |
| Operating Margin | -5025.5% | -5025.5% | -1023.7% | -626.9% | -78.8% | 47.1% | 55.9% | -2741.6% | -15328.6% | -59567.6% | — |
| Net Profit Margin | -7533.6% | -7533.6% | -961.4% | -518.7% | -41.6% | 37.5% | 57.0% | -2882.0% | -15714.3% | -90827.9% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -125.2% | -125.2% | -53.6% | -35.2% | -11.4% | 36.4% | 124.1% | -1826.4% | -449.3% | -1626.1% | — |
| ROA | -105.7% | -105.7% | -47.2% | -32.4% | -10.1% | 31.7% | 115.7% | -328.8% | -201.8% | -233.6% | -231.4% |
| ROIC | -73.9% | -73.9% | -47.1% | -38.6% | -29.4% | 99.3% | 254.6% | -1188.8% | -4256.5% | — | — |
| ROCE | -80.3% | -80.3% | -54.8% | -40.9% | -20.2% | 42.9% | 120.7% | -1083.0% | -378.2% | -614.9% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.04 | 0.03 | 0.00 | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.52 | -0.01 | -0.14 | -0.20 | -0.66 | -0.64 | -0.51 | — | -0.92 | — |
| Net Debt / EBITDA | — | — | — | — | — | -1.91 | -1.03 | — | — | — | — |
| Debt / FCF | — | — | — | — | -4.40 | -2.19 | -1.57 | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | -57.21 | -45.48 | -21.43 | -7.01 |
Net cash position: cash ($12M) exceeds total debt ($1M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.87 | 3.87 | 4.41 | 10.81 | 23.94 | 9.14 | 16.83 | 4.83 | 0.45 | 7.09 | 0.31 |
| Quick Ratio | 3.59 | 3.59 | 4.27 | 10.52 | 22.57 | 8.98 | 14.86 | 4.23 | 0.44 | 7.07 | 0.31 |
| Cash Ratio | 3.36 | 3.36 | 4.07 | 10.19 | 20.98 | 7.13 | 11.65 | 2.72 | 0.40 | 5.63 | 0.26 |
| Asset Turnover | — | 0.03 | 0.06 | 0.07 | 0.28 | 0.61 | 1.05 | 0.10 | 0.03 | 0.00 | — |
| Inventory Turnover | 0.22 | 0.22 | 0.93 | 2.51 | 1.03 | 5.78 | 2.08 | 0.57 | 0.52 | 0.03 | — |
| Days Sales Outstanding | — | 111.63 | 12.36 | 17.73 | 57.59 | 77.99 | 59.42 | 223.07 | 122.73 | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 413.2% | 16.3% | — | — | — | — |
| FCF Yield | — | — | — | — | 194.4% | 454.0% | 315.6% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 100.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 100.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $1M | $1M | $978220 | $1M | $996790 | $933345 | $558564 | $416154 | $365344 | $372739 |
Liquidity and regulatory exhaustion
According to current market data, CODX trades at a price-to-sales ratio of 5.49, which appears to price the firm as a speculative call option on future regulatory milestones rather than a functioning commercial entity with established, recurring revenue streams or predictable long-term growth trajectories.
The absence of meaningful P/E or EV/EBITDA multiples underscores that the market is currently ignoring traditional valuation metrics in favor of a binary assessment of the company's R&D success. Investors should monitor whether this premium valuation can be sustained if the transition to the point-of-care platform continues to face delays.
Based on reported financial figures, the company's ROIC has deteriorated significantly to -69.7% in 2026Q1, illustrating a rapid decay in the firm's ability to generate returns on invested capital as legacy pandemic-era profits have been fully exhausted by ongoing, high-cost research and development initiatives.
This negative trend suggests that the capital deployed into the Co-Dx PCR Home platform is currently failing to produce any meaningful economic value. The persistent decline in ROIC relative to historical levels indicates that the company is effectively destroying shareholder value while awaiting commercial validation.
As reported in recent quarterly filings, the company's cash conversion cycle has reached -122 days in 2026Q1, a figure that appears highly erratic and reflects the extreme difficulty in managing inventory and receivables during a period of near-total revenue collapse and product transition.
The extreme volatility in days inventory outstanding, which peaked at over 4,000 days in previous periods, suggests that the firm is holding significant quantities of potentially obsolete inventory. This inefficiency warrants further investigation, as it may indicate that the company is struggling to align its production capacity with actual market demand.
Based on the latest balance sheet data, the current ratio has compressed to 2.28 in 2026Q1, which, while technically adequate, masks the underlying reality of a rapidly depleting cash position that is being consumed by persistent operating losses and high fixed-cost R&D requirements.
While the company maintains a relatively clean balance sheet with minimal debt, the lack of a sustainable revenue stream makes the current liquidity position highly vulnerable to further operational delays. Investors should monitor the cash burn rate closely, as the current trajectory suggests a limited runway before the firm may need to seek dilutive external financing.
The price-to-book ratio of 0.20 is frequently misapplied by investors as a signal of deep value, yet this metric obscures the reality that the company's book value is heavily comprised of intangible assets and goodwill that may hold little liquidation value in a distressed scenario.
Relying on P/B in this context is misleading because it ignores the high probability of future asset impairments as the company pivots away from its legacy business. A more appropriate focus for this business model would be the cash-burn-to-liquidity ratio, which provides a clearer picture of the firm's survival timeline.
Includes 30+ ratios · 12 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CODX stock.
Co-Diagnostics, Inc.'s current P/E ratio is -0.1x. The historical average is 3.2x.
Co-Diagnostics, Inc.'s return on equity (ROE) is -125.2%. The historical average is -73.5%.
Based on historical data, Co-Diagnostics, Inc. is trading at a P/E of -0.1x. Compare with industry peers and growth rates for a complete picture.
Co-Diagnostics, Inc. has 64.3% gross margin and -5025.5% operating margin.