Co-Diagnostics, Inc. (CODX) Financial Ratios
12 years of historical data (2014–2025) · Healthcare · Medical - Devices
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
↑
N/A
—
5yr avg: 0.37
30Y Low0.2·High0.5
P/B Ratio
↑
0.12
↑+40% vs avg
5yr avg: 0.09
30Y Low0.0·High0.3
ROE
↓
-125.2%
↑-231% vs avg
5yr avg: -37.8%
30Y Low-449%·High124%
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.
CODX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Co-Diagnostics, 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 | $2M | $7M | $758384 | $1M | $3M | $9M | $9M | $499915 | $620069 | $964508 | — |
| Enterprise Value | $-8493693 | $-3919896 | $-25982 | $-10625278 | $-19981647 | $-79705899 | $-34296605 | $-393223 | $2M | $-2569946 | — |
| P/E Ratio → | -0.05 | — | — | — | — | 0.24 | 6.12 | — | — | — | — |
| P/S Ratio | 3.46 | 10.81 | 0.19 | 0.19 | 0.08 | 0.09 | 0.12 | 2.33 | 15.54 | 125.88 | — |
| P/B Ratio | 0.12 | 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
CODX 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 | — | -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 | — | — | — | — |
CODX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Co-Diagnostics, Inc. earns an operating margin of -5025.5%. Operating margins have compressed from -626.9% to -5025.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -125.2% 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 | 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% | — |
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 | -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% | — |
CODX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $12M exceeds total debt of $1M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| 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)
CODX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Co-Diagnostics, Inc.'s current ratio of 3.87x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 10.81x to 3.87x 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 | 3.87 | 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 | — | — |
CODX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Co-Diagnostics, 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 | — | — | — | — | — | 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 |
Peer Comparison
Compare CODX 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 |
|---|---|---|---|---|---|---|---|---|---|
 CODXYou | $2M | -0.1 | — | — | 64.3% | -5025.5% | -125.2% | -73.9% | — |
 QDEL | $733M | -0.6 | — | — | 46.7% | -33.7% | -46.1% | -13.6% | — |
 FLGT | $449M | -7.7 | — | — | 40.6% | -28.2% | -5.4% | -6.4% | — |
 CLOV | $1B | -16.6 | — | — | 18.5% | -4.4% | -26.3% | -34.0% | — |
 NVAX | $2B | 3.6 | 2.6 | — | 93.7% | 50.1% | — | — | 0.4 |
 HOLX | $17B | 30.5 | 17.4 | 18.4 | 61.0% | 17.4% | 11.1% | 9.4% | 2.6 |
 IDXX | $45B | 43.7 | 31.6 | 43.1 | 61.8% | 31.6% | 66.2% | 42.5% | 0.7 |
 NEOG | $2B | -1.8 | 20.7 | — | 47.1% | 1.1% | -41.9% | 0.2% | 6.8 |
 CHEK | $12M | -0.5 | — | — | — | — | -226.2% | -287.7% | — |
 MESO | $2B | -17.6 | — | — | 70.2% | -363.1% | -19.0% | -8.5% | — |
 BNGO | $14M | -0.3 | — | — | 49.4% | -116.9% | -66.2% | -49.1% | — |
| Healthcare Median | — | 22.3 | 14.4 | 18.5 | 63.9% | -5.2% | -33.7% | -11.2% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying CODX stock.
What is Co-Diagnostics, Inc.'s P/E ratio?
Co-Diagnostics, Inc.'s current P/E ratio is -0.1x. The historical average is 3.2x.
What is Co-Diagnostics, Inc.'s ROE?
Co-Diagnostics, Inc.'s return on equity (ROE) is -125.2%. The historical average is -73.5%.
Is CODX stock overvalued?
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.
What are Co-Diagnostics, Inc.'s profit margins?
Co-Diagnostics, Inc. has 64.3% gross margin and -5025.5% operating margin.