Coda Octopus Group, Inc. (CODA) 10-Year Financial Performance & Capital Metrics

CODA • • Industrial / General

IndustrialsAerospace & DefenseDefense Electronics & Mission SystemsElectronic Warfare & C4ISR

AboutCoda Octopus Group, Inc., together with its subsidiaries, develops and sells underwater technologies and equipment for 3D imaging, mapping, defense, and survey applications in the Americas, Europe, Australia, Asia, the Middle East, and Africa. The company operates through two segments, Marine Engineering Business and Marine Technology Business. It sells technology solutions to the subsea and underwater markets. The company's solutions include geophysical systems, a geophysical data acquisition systems, processing, and analysis software that are used primarily by survey companies, offshore renewable companies, research institutions, and salvage companies; GNSS-aided navigation systems; Echoscope and Echoscope PIPE used for real time monitoring of cable installations for offshore wind projects; and diver augmented vision display system. It offers CodaOctopus GeoSurvey products, such as hardware and software solutions for field acquisition of sidescan sonar and sub-bottom profiler; and CodaOctopus DA4G productivity suite of software that automates the tasks of analyzing, annotating, and mosaicing complex data sets. It markets its products under the CodaOctopus brand name. Coda Octopus Group, Inc. was founded in 1994 and is headquartered in Orlando, Florida.Show more

Revenue $20M +5.0%
EBITDA $4M +27.8%
Net Income $4M +16.7%
EPS (Diluted) 0.32 +14.3%
Gross Margin 69.76% +3.6%
EBITDA Margin 21.43% +21.7%
Operating Margin 17.64% +24.6%
Net Margin 17.95% +11.2%
ROE 7.18% +5.5%
ROIC 9.77% +5.6%
Debt/Equity 0.01
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Healthy 5Y average net margin of 18.7%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.14%

5Y-4.11%

3Y-1.61%

TTM29.34%

Profit (Net Income) CAGR

10Y8.41%

5Y-6.94%

3Y-9.68%

TTM14.41%

EPS CAGR

10Y2.92%

5Y-8.17%

3Y-10.07%

TTM-107.49%

ROCE

10Y Avg14.38%

5Y Avg9.46%

3Y Avg8.26%

Latest7.01%

Peer Comparison

Electronic Warfare & C4ISR

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ESLTElbit Systems Ltd.	33.46B	720.43	100.34	14.3%	5.92%	11.57%	0.95%	0.42
DRSLeonardo DRS, Inc.	11.24B	42.26	52.83	14.44%	7.42%	10.01%	1.65%	0.18
LHXL3Harris Technologies, Inc.	63.68B	340.42	43.26	9.82%	8.09%	9.01%	3.38%	0.66
CODACoda Octopus Group, Inc.	129.02M	11.47	35.84	4.98%	14.09%	7.18%	1.44%	0.01
OPXSOptex Systems Holdings, Inc	106.63M	15.37	20.77	1214.97%	12.45%	21.19%	100%	0.08
ASTCAstrotech Corporation	6.56M	3.73	-0.45	-36.96%	-10.7%	-73.54%		0.12
VWAVVisionWave Holdings, Inc.	220.39M	13.36	-60.73			-6.24%
MRCYMercury Systems, Inc.	6.19B	102.95	-158.38	9.19%	-7.86%	-4.64%	1.92%	0.44

Profit & Loss

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Sales/Revenue+	19.23M	21.12M	18.03M	18.02M	25.06M	20.04M	21.33M	22.23M	19.35M	20.32M
Revenue Growth %	0.17%	0.1%	-0.15%	-0%	0.39%	-0.2%	0.06%	0.04%	-0.13%	0.05%
Cost of Goods Sold+	8.89M	8.47M	6.06M	5.36M	8.63M	7.31M	6.56M	7.04M	6.32M	6.14M
COGS % of Revenue	0.46%	0.4%	0.34%	0.3%	0.34%	0.36%	0.31%	0.32%	0.33%	0.3%
Gross Profit+	10.34M	12.65M	11.97M	12.66M	16.43M	12.73M	14.77M	15.19M	13.03M	14.17M
Gross Margin %	0.54%	0.6%	0.66%	0.7%	0.66%	0.64%	0.69%	0.68%	0.67%	0.7%
Gross Profit Growth %	0.03%	0.22%	-0.05%	0.06%	0.3%	-0.23%	0.16%	0.03%	-0.14%	0.09%
Operating Expenses+	8.48M	7.11M	8.15M	9.35M	10.18M	9.93M	10.9M	10.19M	10.29M	10.59M
OpEx % of Revenue	0.44%	0.34%	0.45%	0.52%	0.41%	0.5%	0.51%	0.46%	0.53%	0.52%
Selling, General & Admin	7.48M	6.1M	6.77M	6.78M	7.37M	6.74M	7.92M	7.95M	8.2M	8.35M
SG&A % of Revenue	0.39%	0.29%	0.38%	0.38%	0.29%	0.34%	0.37%	0.36%	0.42%	0.41%
Research & Development	998.27K	1.01M	1.38M	2.57M	2.8M	3.19M	2.98M	2.24M	2.1M	2.24M
R&D % of Revenue	0.05%	0.05%	0.08%	0.14%	0.11%	0.16%	0.14%	0.1%	0.11%	0.11%
Other Operating Expenses	0	0	0	41.22K	70.21K	19.37K	0	0	0	0
Operating Income+	1.86M	5.54M	3.82M	3.31M	6.25M	2.8M	5.31M	5M	2.74M	3.58M
Operating Margin %	0.1%	0.26%	0.21%	0.18%	0.25%	0.14%	0.25%	0.23%	0.14%	0.18%
Operating Income Growth %	-0.41%	1.98%	-0.31%	-0.13%	0.89%	-0.55%	0.89%	-0.06%	-0.45%	0.31%
EBITDA+	2.31M	6.35M	4.77M	4.07M	7.09M	3.61M	6.23M	5.74M	3.41M	4.35M
EBITDA Margin %	0.12%	0.3%	0.26%	0.23%	0.28%	0.18%	0.29%	0.26%	0.18%	0.21%
EBITDA Growth %	-0.32%	1.75%	-0.25%	-0.15%	0.74%	-0.49%	0.73%	-0.08%	-0.41%	0.28%
D&A (Non-Cash Add-back)	449.7K	809.38K	953.63K	758.41K	833.77K	802.94K	924.07K	738.73K	667.53K	770.53K
EBIT	2.22M	5.54M	3.94M	3.35M	6.32M	3.47M	5.27M	5.14M	3.42M	3.67M
Net Interest Income+	-1.04M	-856.43K	-597.01K	-249.09K	-91.1K	-70.2K	-19.66K	-9.7K	642.53K	938.77K
Interest Income	0	0	0	0	0	0	0	0	642.53K	938.77K
Interest Expense	1.04M	856.43K	597.01K	249.09K	91.1K	70.2K	19.66K	9.7K	0	0
Other Income/Expense	-689.13K	-684.34K	-475.73K	-207.87K	-20.88K	598.04K	-53.6K	128.27K	681.68K	1.03M
Pretax Income+	1.17M	4.85M	3.34M	3.1M	6.23M	3.4M	5.25M	5.13M	3.42M	4.61M
Pretax Margin %	0.06%	0.23%	0.19%	0.17%	0.25%	0.17%	0.25%	0.23%	0.18%	0.23%
Income Tax+	100.1K	-76.25K	2.62K	-1.89M	1.01M	58.22K	305.48K	831.11K	297.08K	965.29K
Effective Tax Rate %	0.91%	1.02%	1%	1.61%	0.84%	0.98%	0.94%	0.84%	0.91%	0.79%
Net Income+	1.07M	4.93M	3.34M	4.99M	5.23M	3.34M	4.95M	4.3M	3.12M	3.65M
Net Margin %	0.06%	0.23%	0.19%	0.28%	0.21%	0.17%	0.23%	0.19%	0.16%	0.18%
Net Income Growth %	-0.34%	3.61%	-0.32%	0.49%	0.05%	-0.36%	0.48%	-0.13%	-0.27%	0.17%
Net Income (Continuing)	1.07M	4.93M	3.34M	4.99M	5.23M	3.34M	4.95M	4.3M	3.12M	3.65M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.16	0.58	0.36	0.49	0.49	0.30	0.44	0.38	0.28	0.32
EPS Growth %	-0.33%	2.63%	-0.38%	0.36%	0%	-0.39%	0.47%	-0.14%	-0.26%	0.14%
EPS (Basic)	0.16	0.60	0.37	0.49	0.49	0.31	0.46	0.40	0.28	0.33
Diluted Shares Outstanding	6.76M	8.44M	9.31M	10.09M	10.68M	11.29M	11.31M	11.28M	11.32M	11.29M
Basic Shares Outstanding	6.71M	8.28M	9.11M	10.09M	10.68M	10.73M	10.8M	10.86M	11.13M	11.17M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Total Current Assets+	14.08M	15.15M	15.26M	18.12M	24.1M	27.69M	35.56M	37.01M	40.89M	42.98M
Cash & Short-Term Investments	6.31M	5.6M	6.85M	7.51M	11.72M	15.13M	17.75M	22.93M	24.45M	22.48M
Cash Only	6.31M	5.6M	6.85M	7.51M	11.72M	15.13M	17.75M	22.93M	24.45M	22.48M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	3.84M	6.82M	4.21M	6.34M	6.71M	3.01M	5.29M	3.8M	4.34M	5.71M
Days Sales Outstanding	72.93	117.91	85.35	128.42	97.76	54.76	90.49	62.36	81.8	102.66
Inventory	3.78M	2.6M	3.65M	3.82M	5.35M	9.14M	10.69M	10.03M	11.69M	13.98M
Days Inventory Outstanding	155.18	112.06	220.07	260.49	226.36	456.22	594.7	520.23	674.77	830.38
Other Current Assets	0	13.69K	0	57.12K	255.25K	112.98K	563.63K	191.84K	235.38K	275.93K
Total Non-Current Assets+	7.8M	7.69M	8.8M	10.61M	10.23M	10.35M	9.91M	9.92M	10.95M	14.56M
Property, Plant & Equipment	3.94M	3.84M	5.21M	5.25M	5.99M	6.06M	6.04M	5.83M	6.87M	7.24M
Fixed Asset Turnover	4.89x	5.50x	3.46x	3.43x	4.19x	3.31x	3.53x	3.81x	2.82x	2.81x
Goodwill	3.38M	3.38M	3.38M	3.38M	3.38M	3.38M	3.38M	3.38M	3.38M	3.64M
Intangible Assets	467.55K	367.42K	207.17K	231.84K	230.78K	349.34K	412.27K	442.29K	486.62K	3.69M
Long-Term Investments	0	-96.37K	0	-1.75M	9.6M	9.79M	9.83M	9.66M	0	0
Other Non-Current Assets	13.89K	96.37K	0	1.75M	-9.6M	-9.79M	-9.83M	-9.66M	0	0
Total Assets+	21.88M	22.84M	24.06M	28.74M	34.33M	38.04M	45.47M	46.93M	51.84M	57.54M
Asset Turnover	0.88x	0.92x	0.75x	0.63x	0.73x	0.53x	0.47x	0.47x	0.37x	0.35x
Asset Growth %	0.03%	0.04%	0.05%	0.19%	0.19%	0.11%	0.2%	0.03%	0.1%	0.11%
Total Current Liabilities+	4.29M	3.5M	4.12M	3.24M	2.99M	3.38M	4.26M	3.47M	3.28M	3.9M
Accounts Payable	1.03M	1.4M	981.99K	988.15K	1.27M	1.28M	1.45M	793.25K	1.31M	1.03M
Days Payables Outstanding	42.38	60.21	59.17	67.33	53.88	64.08	80.91	41.16	75.54	61.47
Short-Term Debt	2.05M	846.99K	2.21M	964.7K	487.14K	509.77K	63.56K	0	0	0
Deferred Revenue (Current)	495.57K	464.54K	402.95K	602.91K	830.15K	1000K	1000K	943.57K	975.54K	1000K
Other Current Liabilities	0	0	0	0	0	0	0	112.8K	85.19K	118.88K
Current Ratio	3.29x	4.33x	3.71x	5.59x	8.07x	8.18x	8.35x	10.67x	12.47x	11.03x
Quick Ratio	2.40x	3.58x	2.82x	4.41x	6.28x	5.48x	5.84x	7.78x	8.90x	7.44x
Cash Conversion Cycle	185.74	169.76	246.25	321.58	270.25	446.9	604.27	541.43	681.02	871.57
Total Non-Current Liabilities+	13.34M	9.18M	6.12M	1.11M	716.02K	258.36K	157.89K	76.13K	133.38K	519K
Long-Term Debt	13.3M	9.18M	6.07M	1.06M	572.43K	63.34K	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	380.87K
Deferred Tax Liabilities	35.96K	0	-49.14K	-48.91K	572.43K	63.34K	0	0	0	82.01K
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	0
Total Liabilities	17.62M	12.68M	10.23M	4.35M	3.7M	3.64M	4.42M	3.54M	3.41M	4.42M
Total Debt+	15.35M	10.03M	8.28M	2.02M	1.06M	573.11K	63.56K	0	0	413.17K
Net Debt	9.04M	4.42M	1.43M	-5.49M	-10.66M	-14.56M	-17.68M	-22.93M	-24.45M	-22.07M
Debt / Equity	3.61x	0.99x	0.60x	0.08x	0.03x	0.02x	0.00x	-	-	0.01x
Debt / EBITDA	6.65x	1.58x	1.74x	0.50x	0.15x	0.16x	0.01x	-	-	0.09x
Net Debt / EBITDA	3.92x	0.70x	0.30x	-1.35x	-1.50x	-4.04x	-2.84x	-3.99x	-7.18x	-5.07x
Interest Coverage	1.78x	6.47x	6.40x	13.29x	68.65x	39.94x	270.00x	515.67x	-	-
Total Equity+	4.26M	10.15M	13.83M	24.39M	30.63M	34.4M	41.05M	43.38M	48.43M	53.13M
Equity Growth %	0.57%	1.39%	0.36%	0.76%	0.26%	0.12%	0.19%	0.06%	0.12%	0.1%
Book Value per Share	0.63	1.20	1.49	2.42	2.87	3.05	3.63	3.85	4.28	4.71
Total Shareholders' Equity	4.26M	10.15M	13.83M	24.39M	30.63M	34.4M	41.05M	43.38M	48.43M	53.13M
Common Stock	6.72K	9.09K	9.14K	10.64K	10.72K	10.75K	10.86K	10.92K	11.12K	11.2K
Retained Earnings	-45.25M	-40.32M	-36.98M	-31.99M	-26.77M	-23.43M	-18.48M	-14.18M	-11.05M	-7.41M
Treasury Stock	0	0	0	0	0	0	0	-28.34K	-46.3K	-61.93K
Accumulated OCI	373.52K	-2.34M	-2.04M	-2.23M	-2.14M	-2.32M	-1.67M	-4.74M	-3.44M	-2.51M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024
Cash from Operations+	3.25M	4.39M	4.84M	2.43M	6.39M	4.43M	3.27M	6.73M	2.39M	2.45M
Operating CF Margin %	0.17%	0.21%	0.27%	0.13%	0.26%	0.22%	0.15%	0.3%	0.12%	0.12%
Operating CF Growth %	9.21%	0.35%	0.1%	-0.5%	1.63%	-0.31%	-0.26%	1.06%	-0.64%	0.03%
Net Income	1.07M	4.93M	3.34M	4.99M	5.23M	3.34M	4.95M	4.3M	3.12M	3.65M
Depreciation & Amortization	449.7K	809.38K	953.63K	758.41K	833.77K	806.69K	924.07K	738.73K	667.53K	770.53K
Stock-Based Compensation	9K	119.73K	134.24K	448.5K	650.41K	610.78K	1.05M	1.13M	645.2K	137.68K
Deferred Taxes	3.03K	-132.34K	96.37K	-1.75M	1.12M	69.78K	485.13K	-193.08K	48.73K	251.62K
Other Non-Cash Items	328.52K	30.05K	-109.41K	1.75M	-1.11M	-648.87K	-648.87K	1.31M	0	85.5K
Working Capital Changes	1.39M	-1.5M	522.28K	-3.76M	-327.33K	252.44K	-3.49M	749.18K	-2.1M	-2.44M
Change in Receivables	1.97M	-1.24M	1.86M	-1.91M	-1.11M	2.42M	-2.19M	992.95K	291.87K	-1.26M
Change in Inventory	279.04K	1.18M	-1.05M	-349.82K	-1.53M	-3.79M	-1.06M	-675.88K	-1.29M	-707.9K
Change in Payables	-701.93K	451.94K	-689.34K	172.4K	-3.69K	18.14K	326.76K	534K	-613.24K	93.69K
Cash from Investing+	-2.22M	-614.02K	-2.04M	-637.15K	-1.58M	-998.34K	-964.2K	-556.56K	-1.52M	-4.42M
Capital Expenditures	-2.22M	-614.22K	-2.56M	-637.15K	-2.3M	-998.34K	-964.2K	-556.56K	-2.02M	-591.63K
CapEx % of Revenue	0.12%	0.03%	0.14%	0.04%	0.09%	0.05%	0.05%	0.03%	0.1%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4.03K	196	518.5K	-71.86K	680.45K	-163.2K	-113.31K	-90.09K	501.17K	-3.83M
Cash from Financing+	-492.98K	-1.77M	-1.85M	-942.38K	-692.71K	162.41K	139.32K	-91.9K	-17.96K	-15.63K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	-1.1M	0	166.51K	0	0	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.03M	3.77M	2.28M	1.79M	4.09M	3.44M	2.31M	6.17M	259.54K	1.86M
FCF Margin %	0.05%	0.18%	0.13%	0.1%	0.16%	0.17%	0.11%	0.28%	0.01%	0.09%
FCF Growth %	2.13%	2.65%	-0.4%	-0.21%	1.28%	-0.16%	-0.33%	1.68%	-0.96%	6.17%
FCF per Share	0.15	0.45	0.24	0.18	0.38	0.30	0.20	0.55	0.02	0.16
FCF Conversion (FCF/Net Income)	3.04x	0.89x	1.45x	0.49x	1.22x	1.33x	0.66x	1.56x	0.76x	0.67x
Interest Paid	716.39K	1.09M	697.88K	291.8K	91.1K	0	0	9.7K	0	0
Taxes Paid	125.1K	100.1K	64.99K	27.19K	7.84K	0	0	74.43K	1.41M	363.37K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	30.75%	68.42%	27.85%	26.11%	19%	10.28%	13.12%	10.19%	6.81%	7.18%
Return on Invested Capital (ROIC)	10.54%	29.8%	19.2%	14.54%	24.14%	10.57%	18.43%	17.13%	9.25%	9.77%
Gross Margin	53.76%	59.91%	66.39%	70.27%	65.57%	63.51%	69.24%	68.35%	67.34%	69.76%
Net Margin	5.56%	23.35%	18.53%	27.68%	20.85%	16.68%	23.19%	19.35%	16.14%	17.95%
Debt / Equity	3.61x	0.99x	0.60x	0.08x	0.03x	0.02x	0.00x	-	-	0.01x
Interest Coverage	1.78x	6.47x	6.40x	13.29x	68.65x	39.94x	270.00x	515.67x	-	-
FCF Conversion	3.04x	0.89x	1.45x	0.49x	1.22x	1.33x	0.66x	1.56x	0.76x	0.67x
Revenue Growth	16.95%	9.79%	-14.65%	-0.03%	39.06%	-20.01%	6.42%	4.19%	-12.93%	4.98%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
Software Sales	-	-	-	-	-	-	851.98K	878.52K
Software Sales Growth	-	-	-	-	-	-	-	3.12%
Marine Engineering Business Services	-	-	-	-	865.83K	2.43M	-	-
Marine Engineering Business Services Growth	-	-	-	-	-	180.28%	-	-
Marine Technology Business Products	-	-	-	-	669.97K	1.01M	-	-
Marine Technology Business Products Growth	-	-	-	-	-	51.48%	-	-
Overhead	1.8M	3.1M	2.7M	2.7M	-	-	-	-
Overhead Growth	-	72.44%	-12.90%	0.00%	-	-	-	-
Marine Technology Business (Products)	1.9M	1.18M	1.59M	997.15K	-	-	-	-
Marine Technology Business (Products) Growth	-	-37.92%	35.20%	-37.31%	-	-	-	-
Marine Engineering Business (Services)	387.14K	437.39K	145.15K	354.37K	-	-	-	-
Marine Engineering Business (Services) Growth	-	12.98%	-66.81%	144.14%	-	-	-	-

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024
Europe	9.06M	10.03M	-	-	-	-	-	-
Europe Growth	-	10.75%	-	-	-	-	-	-
USA	7.5M	7.62M	-	-	-	-	-	-
USA Growth	-	1.57%	-	-	-	-	-	-
Australia	1.47M	371.73K	-	-	-	-	-	-
Australia Growth	-	-74.69%	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Coda Octopus Group, Inc. (CODA) has a price-to-earnings (P/E) ratio of 35.8x. This suggests investors expect higher future growth.

Growth & Financials

Coda Octopus Group, Inc. (CODA) reported $24.3M in revenue for fiscal year 2024. This represents a 55% increase from $15.7M in 2011.

Coda Octopus Group, Inc. (CODA) grew revenue by 5.0% over the past year. Growth has been modest.

Yes, Coda Octopus Group, Inc. (CODA) is profitable, generating $3.4M in net income for fiscal year 2024 (17.9% net margin).

Dividend & Returns

Coda Octopus Group, Inc. (CODA) has a return on equity (ROE) of 7.2%. This is below average, suggesting room for improvement.

Coda Octopus Group, Inc. (CODA) generated $5.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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