Codexis, Inc. (CDXS) Financial Ratios
20 years of historical data (2006–2025) · Healthcare · Biotechnology
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: 102.29
30Y Low102.3·High102.3
P/B Ratio
↓
4.09
↓-18% vs avg
5yr avg: 4.97
30Y Low1.0·High15.7
ROE
↓
-74.9%
↑-44% vs avg
5yr avg: -52.0%
30Y Low-105%·High-12%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CDXS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Codexis, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $215M | $142M | $350M | $208M | $305M | $2.0B | $1.3B | $904M | $872M | $386M | $187M |
| Enterprise Value | $238M | $164M | $391M | $159M | $234M | $1.9B | $1.2B | $839M | $819M | $355M | $168M |
| P/E Ratio → | -4.74 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 3.06 | 2.02 | 5.90 | 2.96 | 2.20 | 19.27 | 18.76 | 13.20 | 14.39 | 7.72 | 3.83 |
| P/B Ratio | 4.09 | 2.81 | 5.23 | 2.40 | 2.10 | 12.28 | 7.62 | 8.57 | 15.48 | 15.73 | 9.79 |
| P/FCF | — | — | — | — | 102.29 | — | — | — | — | — | — |
| P/OCF | — | — | — | — | 26.99 | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
CDXS EV Ratios
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 | — | 2.34 | 6.59 | 2.26 | 1.69 | 18.61 | 16.97 | 12.26 | 13.51 | 7.10 | 3.44 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | 78.66 | — | — | — | — | — | — |
CDXS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Codexis, Inc. earns an operating margin of -54.5%. Operating margins have expanded from -97.0% to -54.5% over the past 3 years, signaling improving operational efficiency. A negative ROE of -74.9% indicates the company is currently destroying shareholder equity.
Margins
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 | 86.7% | 86.7% | 72.6% | 81.7% | 72.6% | 78.8% | 80.1% | 77.2% | 79.2% | 71.4% | 80.0% |
| Operating Margin | -54.5% | -54.5% | -98.6% | -97.0% | -25.2% | -21.7% | -34.6% | -18.3% | -18.6% | -45.9% | -17.5% |
| Net Profit Margin | -62.5% | -62.5% | -110.0% | -108.7% | -24.2% | -20.3% | -34.8% | -17.4% | -18.0% | -46.0% | -17.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -74.9% | -74.9% | -85.0% | -65.9% | -21.7% | -12.7% | -17.4% | -14.8% | -26.9% | -105.4% | -40.8% |
| ROA | -29.6% | -29.6% | -45.7% | -39.4% | -13.5% | -9.1% | -13.0% | -10.5% | -16.5% | -51.5% | -21.3% |
| ROIC | -31.9% | -31.9% | -60.5% | -91.2% | -30.8% | -24.1% | -41.2% | -42.3% | -254.5% | — | -4078.1% |
| ROCE | -30.9% | -30.9% | -51.8% | -45.1% | -16.8% | -11.1% | -14.5% | -12.9% | -25.1% | -88.4% | -32.3% |
CDXS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $22M ($73M total debt minus $51M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.45 | 1.45 | 0.89 | 0.19 | 0.30 | 0.29 | 0.15 | 0.25 | 0.00 | 0.01 | 0.02 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.44 | 0.61 | -0.57 | -0.49 | -0.42 | -0.73 | -0.61 | -0.94 | -1.26 | -0.99 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | -23.63 | — | — | — | — | — | — |
| Interest Coverage | -8.13 | -8.13 | — | — | — | — | — | — | — | — | — |
CDXS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Codexis, Inc.'s current ratio of 3.82x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.61x to 3.82x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.82 | 3.82 | 4.18 | 2.61 | 3.32 | 4.85 | 7.38 | 7.42 | 3.93 | 1.81 | 2.20 |
| Quick Ratio | 3.75 | 3.75 | 4.10 | 2.53 | 3.28 | 4.82 | 7.34 | 7.40 | 3.89 | 1.76 | 2.13 |
| Cash Ratio | 3.09 | 3.09 | 3.11 | 1.82 | 2.32 | 3.50 | 6.01 | 5.88 | 3.10 | 1.25 | 1.56 |
| Asset Turnover | — | 0.48 | 0.40 | 0.51 | 0.55 | 0.43 | 0.31 | 0.46 | 0.77 | 0.93 | 1.37 |
| Inventory Turnover | 5.14 | 5.14 | 9.05 | 4.77 | 18.74 | 19.15 | 14.26 | 42.13 | 21.43 | 13.83 | 11.82 |
| Days Sales Outstanding | — | 55.64 | 116.15 | 103.70 | 107.65 | 131.19 | 154.80 | 107.46 | 81.33 | 86.10 | 44.27 |
CDXS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Codexis, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
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 | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | 1.0% | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% |
| Shares Outstanding | — | $87M | $73M | $68M | $65M | $65M | $59M | $57M | $52M | $46M | $41M |
Peer Comparison
Compare CDXS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CDXSYou | $215M | -4.7 | — | — | 86.7% | -54.5% | -74.9% | -31.9% | — |
 GEVO | $346M | -10.1 | 79.3 | — | 30.2% | -11.7% | -7.0% | -2.8% | 25.9 |
 BEAM | $4B | -43.9 | — | — | 84.0% | -274.6% | -8.1% | -31.1% | — |
 TRMK | $3B | 12.2 | 9.5 | 11.4 | 71.0% | 25.5% | 11.0% | 7.1% | 3.4 |
 NUVB | $2B | -9.6 | — | — | 86.6% | -338.7% | -53.2% | -54.3% | — |
 RCKT | $378M | -1.7 | — | — | — | — | -60.3% | -62.4% | — |
 CRBU | $163M | -1.0 | — | — | 67.3% | -1220.5% | -79.0% | -51.0% | — |
 NTLA | $2B | -4.1 | — | — | 76.5% | -651.7% | -53.5% | -44.0% | — |
 MRK | $285B | 15.9 | 11.0 | 23.1 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
 PFE | $143B | 18.4 | 10.3 | 15.7 | 70.3% | 24.7% | 8.9% | 7.5% | 3.3 |
 LLY | $1.0T | 48.1 | 34.5 | 116.2 | 83.8% | 45.6% | 101.2% | 41.8% | 1.4 |
| Healthcare Median | — | 22.1 | 14.2 | 18.4 | 63.9% | -4.4% | -33.2% | -11.7% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 20 years · Updated daily
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CDXS — Frequently Asked Questions
Quick answers to the most common questions about buying CDXS stock.
What is Codexis, Inc.'s P/E ratio?
Codexis, Inc.'s current P/E ratio is -4.7x. This places it at the 50th percentile of its historical range.
What is Codexis, Inc.'s ROE?
Codexis, Inc.'s return on equity (ROE) is -74.9%. The historical average is -43.4%.
Is CDXS stock overvalued?
Based on historical data, Codexis, Inc. is trading at a P/E of -4.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Codexis, Inc.'s profit margins?
Codexis, Inc. has 86.7% gross margin and -54.5% operating margin.