Cadiz (CDZI) AI Stock Analysis

• Market Cap: $232.53M
• Dividend Yield: N/A
• Average Volume (3M): 431.03K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.34
• Revenue Growth: 283.67%
• EPS Growth: -11.36%
• Country: US
• Employees: 25
• Sector: Utilities
• Sector Strength: 77
• Industry: Regulated Water
• EPS (TTM): -0.53
• Shares Outstanding: 81,876,370
• 10 Day Avg. Volume: 527,189
• 30 Day Avg. Volume: 431,029
• PEG Ratio: 0.15
• Price to Book (P/B): 3.64
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.67
• Enterprise Value/Market Cap: 0.80
• Enterprise Value/Revenue: 6.32
• Enterprise Value/Gross Profit: 60.30
• Enterprise Value/Ebitda: -2.09
• 1Y Price Target: $10.00
• Price Target Upside: 252.11% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 47 Neutral
• Price Target: $3.00 ▲(5.63%Upside)

Cadiz's score is primarily influenced by its financial performance and valuation challenges. Despite strong revenue growth, profitability and cash flow issues, coupled with high leverage, present significant risks. The short-term technical analysis is moderately positive, but longer-term trends and valuation metrics remain concerning.

Cadiz Business Overview & Revenue Model

Company Description

Cadiz Inc., together with its subsidiaries, operates as a natural resources development company in the United States. It engages in the water resource and agricultural development activities in San Bernardino County properties. The company owns approximately 35,000 acres of land in the Cadiz and Fenner valleys of eastern San Bernardino County; and approximately 11,000 acres of land in the eastern Mojave Desert portion of San Bernardino County. It is also involved in the cultivation of lemons, and spring and fall plantings of vegetables and grains. Cadiz Inc. was founded in 1983 and is headquartered in Los Angeles, California.

How the Company Makes Money

Cadiz Inc. generates revenue primarily through its water resource management operations. The company aims to monetize its water assets by developing and operating sustainable water supply and storage projects. Key revenue streams include leasing water rights to municipalities and other entities seeking reliable water sources. Additionally, Cadiz engages in agricultural activities on its land holdings, contributing to its income. The company's earnings are significantly influenced by regulatory approvals, water demand in California, and its ability to establish strategic partnerships with local government entities and private organizations for water infrastructure projects.

Cadiz Financial Statement Overview

Summary

Cadiz shows strong revenue growth but struggles with profitability and cash flow. High leverage and negative free cash flow highlight potential financial instability, despite some positive trends in equity.

Income Statement

Cadiz has shown significant revenue growth, increasing from $564,000 in 2021 to $11,441,000 in 2025 TTM. However, profitability remains a challenge with persistent net losses, reflected in negative EBIT and EBITDA margins. The gross profit margin improved slightly, but the company's net profit margin is still negative due to high operating expenses.

Balance Sheet

The company's balance sheet reflects high leverage, with a debt-to-equity ratio over 1.0, indicating reliance on debt financing. However, stockholders' equity has improved, showing a positive trend from negative equity in 2020. Despite improvements, the equity ratio remains low, suggesting potential risk from high liabilities.

Cash Flow

Operating cash flow is consistently negative, though financing activities have injected cash into the business. Free cash flow has improved but remains negative, which is concerning for long-term sustainability. The company's reliance on external financing indicates potential liquidity challenges in the future.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
11.44M	9.61M	1.99M	1.50M	564.00K	541.00K
	Gross Profit
3.07M	2.31M	-896.00K	-566.00K	126.00K	541.00K
	EBIT
-25.87M	-23.25M	-20.94M	-16.56M	-17.51M	-11.75M
	EBITDA
-24.46M	-21.44M	-24.49M	-15.89M	-17.90M	-23.59M
	Net Income Common Stockholders
-33.88M	-31.14M	-31.45M	-24.83M	-30.31M	-35.65M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
21.57M	17.29M	4.50M	10.00M	10.96M	7.29M
	Total Assets
145.58M	134.49M	107.37M	110.79M	112.49M	74.36M
	Total Debt
29.61M	85.89M	61.22M	70.39M	68.72M	95.83M
	Net Debt
8.04M	68.60M	56.71M	60.39M	57.76M	88.54M
	Total Liabilities
101.54M	100.53M	67.41M	76.56M	71.88M	99.66M
	Stockholders Equity
44.03M	33.96M	39.97M	34.22M	40.61M	-25.30M
Cash Flow		Free Cash Flow
-24.80M	-22.47M	-26.71M	-21.98M	-38.18M	-19.16M
	Operating Cash Flow
-22.30M	-21.53M	-20.92M	-18.60M	-15.27M	-13.43M
	Investing Cash Flow
-7.29M	-1.18M	-5.79M	-4.12M	-23.47M	-9.84M
	Financing Cash Flow
34.57M	35.51M	17.57M	16.65M	51.18M	14.87M

Cadiz Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.84
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDZI, the sentiment is Negative. The current price of 2.84 is below the 20-day moving average (MA) of 2.92, above the 50-day MA of 2.83, and below the 200-day MA of 3.58, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 44.98 is Neutral, neither overbought nor oversold. The STOCH value of 9.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CDZI.

Cadiz Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PCYO	77 Outperform	$247.26M	17.47	11.12%	―	58.77%	116.91%
CWCO	72 Outperform	$462.06M	17.49	7.83%	1.56%	-31.57%	-18.12%
ARTNA	70 Outperform	$344.11M	16.02	9.04%	3.66%	8.31%	21.97%
Sector *	64 Neutral	$8.57B	10.35	4.24%	4.64%	4.07%	-13.04%
GWRS	63 Neutral	$284.39M	44.27	9.11%	2.93%	3.94%	-8.78%
YORW	58 Neutral	$461.10M	23.41	8.63%	2.74%	3.45%	-19.90%
CDZI	47 Neutral	$232.53M	―	-84.03%	―	283.67%	-11.36%

Cadiz Corporate Events

Cadiz Holds Annual Meeting, Elects New Directors

On June 12, 2025, Cadiz held its Annual Meeting of Stockholders, where key decisions were made regarding company leadership and strategic plans. The election of directors saw Stephen E. Courter, Maria Dreyfus, Maria Echaveste, Winston Hickox, Susan Kennedy, Barbara A. Lloyd, Kenneth T. Lombard, and Richard Polanco being elected. Additionally, an amendment to the 2019 Equity Incentive Plan was approved, increasing the number of shares reserved for issuance. PricewaterhouseCoopers LLP was confirmed as the independent auditor for 2025, and the compensation of named executive officers was approved on an advisory basis.

The most recent analyst rating on (CDZI) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Cadiz stock, see the CDZI Stock Forecast page.