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CRMD logoCorMedix Inc.(CRMD)Earnings, Financials & Key Ratios

CRMD•NASDAQ
$8.05
$631M mkt cap·3.9× P/E·Price updated May 6, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryVaccines and Infectious Disease
AboutCorMedix Inc., a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States and internationally. Its lead product candidate is DefenCath/Neutrolin, a novel anti-infective solution for the reduction and prevention of catheter-related infections and thrombosis in patients requiring central venous catheters in clinical settings, such as hemodialysis, total parenteral nutrition, and oncology. The company was formerly known as Picton Holding Company, Inc. and changed its name to CorMedix, Inc. in January 2007. CorMedix Inc. was incorporated in 2006 and is based in Berkeley Heights, New Jersey.Show more
  • Revenue$312M+617.0%
  • EBITDA$165M+849.0%
  • Net Income$163M+1009.4%
  • EPS (Diluted)2.04+780.0%
  • Gross Margin88.46%-4.5%
  • EBITDA Margin52.98%+204.5%
  • Operating Margin48.17%+193.7%
  • Net Margin52.31%+226.8%
  • ROE66.56%+387.3%
  • ROIC49.72%+206.3%
  • Debt/Equity0.37+5916.2%
  • Interest Coverage53.97+110.2%
Technical→

CRMD Key Insights

CorMedix Inc. (CRMD) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓FCF machine: 55.4% free cash flow margin
  • ✓Strong 5Y sales CAGR of 319.7%

✗Weaknesses

  • ✗Shares diluted 36.4% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CRMD Price & Volume

CorMedix Inc. (CRMD) stock price & volume — 10-year historical chart

Loading chart...

CRMD Growth Metrics

CorMedix Inc. (CRMD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years107.55%
5 Years319.75%
3 Years1582.83%
TTM617.03%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM1009.4%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM708.19%

Return on Capital

10 Years-102.43%
5 Years-34.18%
3 Years-21.82%
Last Year40.75%

CRMD Recent Earnings

CorMedix Inc. (CRMD) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 3/12 qtrs (38%)
Q2 2026Latest
Mar 5, 2026
EPS
$0.61
Est $0.86
-29.1%
Revenue
$129M
Est $127M
+1.3%
Q4 2025
Nov 12, 2025
EPS
$0.57
Est $0.48
+18.8%
Revenue
$104M
Est $127M
-17.9%
Q3 2025
Aug 7, 2025
EPS
$0.28
Est $0.20
+40.0%
Revenue
$40M
Est $42M
-6.4%
Q2 2025
May 6, 2025
EPS
$0.30
Est $0.25
+20.0%
Revenue
$39M
Est $30M
+30.8%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 5, 2026
$0.61vs $0.86-29.1%
$129Mvs $127M+1.3%
Q4 2025Nov 12, 2025
$0.57vs $0.48+18.8%
$104Mvs $127M-17.9%
Q3 2025Aug 7, 2025
$0.28vs $0.20+40.0%
$40Mvs $42M-6.4%
Q2 2025May 6, 2025
$0.30vs $0.25+20.0%
$39Mvs $30M+30.8%
Based on last 12 quarters of dataView full earnings history →

CRMD Peer Comparison

CorMedix Inc. (CRMD) competitors in Vaccines and Infectious Disease — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
NKTR logoNKTRNektar TherapeuticsDirect Competitor1.67B85.09-8.75-43.89%-192.87%-356.81%0.95
HALO logoHALOHalozyme Therapeutics, Inc.Direct Competitor7.81B66.3525.9237.55%22.69%6.49%
PRAX logoPRAXPraxis Precision Medicines, Inc.Direct Competitor7.61B337.95-25.07-100%-58.74%0.00
ACAD logoACADACADIA Pharmaceuticals Inc.Direct Competitor3.68B21.489.3811.87%36.49%41.9%0.04
SUPN logoSUPNSupernus Pharmaceuticals, Inc.Direct Competitor2.96B51.45-75.668.63%-3.74%-2.73%0.04
PCRX logoPCRXPacira BioSciences, Inc.Direct Competitor931.85M23.69148.063.63%1.27%1.31%0.66
AVNS logoAVNSAvanos Medical, Inc.Product Competitor1.15B24.72-16.931.95%-9.69%-8.91%0.17
NVCR logoNVCRNovoCure LimitedProduct Competitor1.88B16.50-13.528.28%-25.66%-50.82%0.85

Compare CRMD vs Peers

CorMedix Inc. (CRMD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NKTR

Most directly comparable listed peer for CRMD.

Scale Benchmark

vs BDX

Larger-name benchmark to compare CRMD against a more recognizable public peer.

Peer Set

Compare Top 5

vs NKTR, HALO, PRAX, ACAD

CRMD Income Statement

CorMedix Inc. (CRMD) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue329.33K429.8K283.27K239.23K190.94K65.41K043.47M311.71M
Revenue Growth %46.95%30.51%-34.09%-15.55%-20.19%-65.74%-100%-617.03%
Cost of Goods Sold114.96K396.79K373.23K204.85K148.94K3.73K205.56K3.19M35.96M
COGS % of Revenue34.91%92.32%131.76%85.63%78%5.71%-7.34%11.54%
Gross Profit
214.36K▲ 0%
33.01K▼ 84.6%
-89.97K▼ 372.5%
34.38K▲ 138.2%
42K▲ 22.1%
61.67K▲ 46.8%
-205.56K▼ 433.3%
40.28M▲ 19695.9%
275.75M▲ 584.6%
Gross Margin %65.09%7.68%-31.76%14.37%22%94.29%-92.66%88.46%
Gross Profit Growth %250.36%-84.6%-372.54%138.22%22.14%46.85%-433.3%19695.86%584.55%
Operating Expenses33.14M26.9M20.92M27.26M29.48M30.69M48.75M62.64M125.61M
OpEx % of Revenue10062.48%6258.12%7384.55%11392.81%15439.51%46914.2%-144.09%40.3%
Selling, General & Admin8.65M8.07M013.88M16.35M20.01M35.6M58.7M30.17M
SG&A % of Revenue2627.28%1878.73%-5801.06%8561.3%30586.61%-135.02%9.68%
Research & Development24.49M18.82M11.05M13.38M13.13M10.68M13.16M3.94M19.33M
R&D % of Revenue7435.2%4379.39%3901.95%5591.75%6878.21%16327.59%-9.07%6.2%
Other Operating Expenses009.87M0000076.11M
Operating Income
-32.92M▲ 0%
-26.86M▲ 18.4%
-21.01M▲ 21.8%
-27.22M▼ 29.6%
-29.44M▼ 8.1%
-30.62M▼ 4.0%
-48.96M▼ 59.9%
-22.36M▲ 54.3%
150.14M▲ 771.6%
Operating Margin %-9997.39%-6250.44%-7416.31%-11378.44%-15417.51%-46819.91%--51.43%48.17%
Operating Income Growth %-32.97%18.41%21.8%-29.57%-8.14%-4.03%-59.87%54.34%771.58%
EBITDA-32.89M-26.79M-20.93M-27.08M-29.26M-30.41M-48.89M-22.05M165.13M
EBITDA Margin %-9986.19%-6233.17%-7390.44%-11318.46%-15324.8%-46500.32%--50.71%52.98%
EBITDA Growth %-32.96%18.54%21.86%-29.34%-8.06%-3.95%-60.73%54.9%849%
D&A (Non-Cash Add-back)36.89K74.22K73.29K143.49K177.02K209.04K70.75K309.78K14.99M
EBIT-33M-26.83M-21.01M-27.16M-29.44M-30.26M-46.3M-19.29M150.14M
Net Interest Income105.09K34.74K-464.82K82.84K-1.54K299.5K2.68M2.54M1.06M
Interest Income110.71K36.62K322.67K116.06K14.4K326.02K2.68M2.58M3.85M
Interest Expense5.62K1.87K787.49K33.23K15.94K26.52K036.41K2.78M
Other Income/Expense-85.8K34.57K9.64M23.67K-22.83K336.65K2.62M3.03M-125K
Pretax Income
-33.01M▲ 0%
-26.83M▲ 18.7%
-11.37M▲ 57.6%
-27.2M▼ 139.2%
-29.46M▼ 8.3%
-30.29M▼ 2.8%
-46.34M▼ 53.0%
-19.32M▲ 58.3%
150.02M▲ 876.3%
Pretax Margin %-10023.45%-6242.4%-4014.71%-11368.54%-15429.47%-46305.23%--44.45%48.13%
Income Tax-31.27K36.44K5.06M-5.17M-1.25M-585.62K0-1.39M-13.04M
Effective Tax Rate %0.09%-0.14%-44.5%19.01%4.24%1.93%0%7.22%-8.69%
Net Income
-33.01M▲ 0%
-26.83M▲ 18.7%
-16.43M▲ 38.8%
-22.03M▼ 34.0%
-28.21M▼ 28.1%
-29.7M▼ 5.3%
-46.34M▼ 56.0%
-17.93M▲ 61.3%
163.06M▲ 1009.4%
Net Margin %-10023.45%-6242.4%-5801.29%-9207.7%-14774.7%-45409.9%--41.24%52.31%
Net Income Growth %-33.95%18.72%38.75%-34.04%-28.07%-5.29%-56.02%61.31%1009.4%
Net Income (Continuing)-33.01M-26.83M-16.43M-22.03M-28.21M-29.7M-46.34M-17.93M163.06M
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)
-2.99▲ 0%
-1.51▲ 49.5%
-0.68▲ 55.0%
-0.77▼ 13.2%
-0.75▲ 2.6%
-0.74▲ 1.3%
-0.91▼ 23.0%
-0.30▲ 67.0%
2.04▲ 780.0%
EPS Growth %8%49.5%54.97%-13.24%2.6%1.33%-22.97%67.03%780%
EPS (Basic)-2.99-1.51-0.68-0.77-0.75-0.74-0.91-0.302.25
Diluted Shares Outstanding11.03M17.82M24.15M28.56M37.67M40.27M50.9M58.87M80.31M
Basic Shares Outstanding11.03M17.82M24.15M28.56M37.61M40.14M50.9M58.87M72.03M
Dividend Payout Ratio---------

CRMD Balance Sheet

CorMedix Inc. (CRMD) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets13.27M18.67M29.35M48.18M66.47M59.55M79.45M114.58M350.47M
Cash & Short-Term Investments11.98M17.62M28.51M46.35M65.47M59.02M76.03M51.69M149.52M
Cash Only10.38M17.62M16.53M41.91M53.32M43.37M43.64M40.65M145.82M
Short-Term Investments1.6M011.98M4.44M12.15M15.64M32.39M11.04M3.69M
Accounts Receivable64.15K10.9K03.36K45.37K0051.65M171.23M
Days Sales Outstanding71.19.26-5.1286.73--433.69200.51
Inventory594.19K428.51K338.46K143.56K3.01K02.11M7.6M29.72M
Days Inventory Outstanding1.89K394.19331255.817.37-3.74K869.39301.61
Other Current Assets258.2K179.67K54.83K273.52K902.05K-91.3K959.67K3.48M0
Total Non-Current Assets186.28K160.86K126.82K1.13M2.48M2.49M2.61M4.27M425.35M
Property, Plant & Equipment186.28K160.86K126.82K1.13M2.37M2.38M2.51M2.32M9.93M
Fixed Asset Turnover1.77x2.67x2.23x0.21x0.08x0.03x-18.73x31.41x
Goodwill0000000030M
Intangible Assets00000001.84M379.07M
Long-Term Investments000000000
Other Non-Current Assets0000102.31K102.32K103.06K105.37K-9.93M
Total Assets
13.45M▲ 0%
18.83M▲ 39.9%
29.48M▲ 56.6%
49.31M▲ 67.3%
68.95M▲ 39.8%
62.04M▼ 10.0%
82.06M▲ 32.3%
118.85M▲ 44.8%
826.14M▲ 595.1%
Asset Turnover0.02x0.02x0.01x0.00x0.00x0.00x-0.37x0.38x
Asset Growth %-38.58%39.93%56.57%67.28%39.83%-10.02%32.27%44.83%595.14%
Total Current Liabilities6.26M7.77M5.83M4.16M5.35M6.31M11.4M33.84M174.27M
Accounts Payable1.81M2.59M1.02M1.13M2.21M2.2M4.28M1.72M7.88M
Days Payables Outstanding5.74K2.38K1K2.01K5.41K215.26K7.6K196.7980.02
Short-Term Debt000000000
Deferred Revenue (Current)88.4K11.03K2.21K000000
Other Current Liabilities3.61M4.06M3.51M00000152.18M
Current Ratio2.12x2.40x5.04x11.58x12.44x9.44x6.97x3.39x2.01x
Quick Ratio2.02x2.35x4.98x11.54x12.43x9.44x6.78x3.16x1.84x
Cash Conversion Cycle-3.78K-1.98K--1.75K-5.32K--1.11K422.1
Total Non-Current Liabilities06.13M2.68K923.71K802.43K667.63K517.01K349.09K246.57M
Long-Term Debt06.13M000000144.63M
Capital Lease Obligations002.68K923.71K802.43K667.63K517.01K349.09K2.84M
Deferred Tax Liabilities000000000
Other Non-Current Liabilities0000000099.1M
Total Liabilities6.26M13.89M5.83M5.09M6.15M6.98M11.92M34.19M420.83M
Total Debt06.13M4.69K1.03M923.8K802.43K667.63K517.01K148.91M
Net Debt-10.38M-11.5M-16.52M-40.87M-52.39M-42.57M-42.98M-40.13M3.09M
Debt / Equity---0.02x0.01x0.01x0.01x0.01x0.37x
Debt / EBITDA--------0.90x
Net Debt / EBITDA--------0.02x
Interest Coverage-5873.70x-14323.42x-26.68x-817.55x-1846.86x-1141.27x--529.83x53.97x
Total Equity
-152.17M▲ 0%
-178.99M▼ 17.6%
-195.42M▼ 9.2%
44.22M▲ 122.6%
62.8M▲ 42.0%
55.06M▼ 12.3%
70.14M▲ 27.4%
84.66M▲ 20.7%
405.31M▲ 378.8%
Equity Growth %-954.22%-17.62%-9.18%122.63%42%-12.32%27.39%20.69%378.76%
Book Value per Share-13.80-10.05-8.091.551.671.371.381.445.05
Total Shareholders' Equity-152.17M-178.99M-195.42M44.22M62.8M55.06M70.14M84.66M405.31M
Common Stock71.41K108.88K25.66K33.56K38.09K42.81K54.94K64.41K79K
Retained Earnings-152.17M-178.99M-195.42M-217.45M-245.66M-275.36M-321.7M-339.63M-176.57M
Treasury Stock000000000
Accumulated OCI98.43K96.52K97.26K102K87.13K82.74K94.11K90.65K3K
Minority Interest000000000

CRMD Cash Flow Statement

CorMedix Inc. (CRMD) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-28.59M-23.7M-15.05M-21.97M-21.16M-24.36M-38.41M-50.61M175.05M
Operating CF Margin %-8680.48%-5514.36%-5313.74%-9182.61%-11079.75%-37238.15%--116.43%56.16%
Operating CF Growth %-28.39%17.09%36.49%-45.94%3.7%-15.13%-57.7%-31.78%445.84%
Net Income-33.01M-26.83M-16.43M-22.03M-28.21M-29.7M-46.34M-17.93M163.06M
Depreciation & Amortization36.89K74.22K73.29K127.96K61.89K84.62K70.75K309.78K0
Stock-Based Compensation1.66M1.11M2.44M2.5M5.04M4.07M5.49M6.13M0
Deferred Taxes-4.57M-3.13M-578.95K000000
Other Non-Cash Items4.42M3.13M1.38M78.37K115.13K124.42K134.81K284.58K4.72M
Working Capital Changes2.88M1.94M-1.93M-2.65M1.84M1.07M2.23M-39.41M7.27M
Change in Receivables-47.6K51.99K10.63K-3.09K-44.08K42.14K0-51.79M-90.92M
Change in Inventory-100.46K165.68K59.28K149.6K145.46K3.01K-2.11M-5.49M-3.48M
Change in Payables157.53K782.06K-1.56M103.33K1.08M-6.57K2.08M-2.56M3.33M
Cash from Investing10.36M1.56M-12.02M7.43M-9.13M-3.71M-17.06M21.23M-308.43M
Capital Expenditures-151.99K-48.89K-36.57K-112.64K-1.43M-219.36K-327.3K-115.73K-2.26M
CapEx % of Revenue46.15%11.38%12.91%47.08%746.5%335.37%-0.27%0.73%
Acquisitions0011.98M00000-308.51M
Investments---------
Other Investing10.51M1.6M-11.98M000000
Cash from Financing20.52M29.4M25.8M40.1M41.76M17.9M55.92M26.32M238.45M
Debt Issued (Net)07.5M000000144.08M
Equity Issued (Net)20.52M21.97M15.23M39.69M41.46M17.77M55.83M18.88M96.55M
Dividends Paid000000000
Share Repurchases000000000
Other Financing6.8K-70.94K10.57M411.75K301.92K128.63K89.3K7.44M-2.18M
Net Change in Cash
2.32M▲ 0%
7.24M▲ 212.9%
-1.27M▼ 117.5%
25.57M▲ 2113.3%
11.45M▼ 55.2%
-10.18M▼ 188.8%
448.45K▲ 104.4%
-3.07M▼ 783.9%
105.07M▲ 3525.7%
Free Cash Flow
-28.74M▲ 0%
-23.75M▲ 17.4%
-15.09M▲ 36.5%
-22.08M▼ 46.3%
-22.58M▼ 2.3%
-24.58M▼ 8.8%
-38.74M▼ 57.6%
-50.73M▼ 31.0%
172.79M▲ 440.6%
FCF Margin %-8726.64%-5525.74%-5326.65%-9229.69%-11826.24%-37573.53%--116.7%55.43%
FCF Growth %-28.74%17.36%36.47%-46.34%-2.27%-8.84%-57.62%-30.96%440.6%
FCF per Share-2.61-1.33-0.62-0.77-0.60-0.61-0.76-0.862.15
FCF Conversion (FCF/Net Income)0.87x0.88x0.92x1.00x0.75x0.82x0.83x2.82x1.07x
Interest Paid5.62K1.87K12.55K33.23K15.94K26.52K34.3K36.41K0
Taxes Paid000000000

CRMD Key Ratios

CorMedix Inc. (CRMD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-95.1%----49.81%-52.72%-50.4%-74.02%-23.17%66.56%
Return on Invested Capital (ROIC)-116.27%----609.35%-321.02%-200.66%-185.19%-46.78%49.72%
Gross Margin-63.62%65.09%7.68%-31.76%14.37%22%94.29%-92.66%88.46%
Net Margin-10996.46%-10023.45%-6242.4%-5801.29%-9207.7%-14774.7%-45409.9%--41.24%52.31%
Debt / Equity----0.02x0.01x0.01x0.01x0.01x0.37x
Interest Coverage-18797.58x-5873.70x-14323.42x-26.68x-817.55x-1846.86x-1141.27x--529.83x53.97x
FCF Conversion0.90x0.87x0.88x0.92x1.00x0.75x0.82x0.83x2.82x1.07x
Revenue Growth6.65%46.95%30.51%-34.09%-15.55%-20.19%-65.74%-100%-617.03%

CRMD SEC Filings & Documents

CorMedix Inc. (CRMD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 27, 2026·SEC

Material company update

Mar 6, 2026·SEC

Material company update

Mar 5, 2026·SEC

10-K Annual Reports

4
FY 2026

Mar 5, 2026·SEC

FY 2025

Mar 25, 2025·SEC

FY 2024

Mar 12, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 12, 2025·SEC

FY 2025

Aug 7, 2025·SEC

FY 2025

May 6, 2025·SEC

CRMD Frequently Asked Questions

CorMedix Inc. (CRMD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

CorMedix Inc. (CRMD) reported $311.7M in revenue for fiscal year 2025.

CorMedix Inc. (CRMD) grew revenue by 617.0% over the past year. This is strong growth.

Yes, CorMedix Inc. (CRMD) is profitable, generating $163.1M in net income for fiscal year 2025 (52.3% net margin).

Dividend & Returns

CorMedix Inc. (CRMD) has a return on equity (ROE) of 66.6%. This is excellent, indicating efficient use of shareholder capital.

CorMedix Inc. (CRMD) generated $174.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More CRMD

CorMedix Inc. (CRMD) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

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