View ValuationCadiz 将来の成長Future 基準チェック /56Cadizは、54.9%と39.8%でそれぞれ年率54.9%で利益と収益が成長すると予測される一方、EPSはgrowで55.3%年率。主要情報54.9%収益成長率55.27%EPS成長率Water Utilities 収益成長10.0%収益成長率39.8%将来の株主資本利益率n/aアナリストカバレッジLow最終更新日08 Apr 2026今後の成長に関する最新情報Breakeven Date Change • Dec 05Forecast to breakeven in 2024The analyst covering Cadiz expects the company to break even for the first time. New forecast suggests the company will make a profit of US$14.1m in 2024. Average annual earnings growth of 77% is required to achieve expected profit on schedule.Breakeven Date Change • Apr 27Forecast breakeven date pushed back to 2024The analyst covering Cadiz previously expected the company to break even in 2023. New forecast suggests losses will reduce by 27% per year to 2023. The company is expected to make a profit of US$35.6m in 2024. Average annual earnings growth of 77% is required to achieve expected profit on schedule.Breakeven Date Change • Sep 23Forecast to breakeven in 2023The analyst covering Cadiz expects the company to break even for the first time. New forecast suggests the company will make a profit of US$10.2m in 2023. Average annual earnings growth of 75% is required to achieve expected profit on schedule.すべての更新を表示Recent updatesお知らせ • Apr 21Cadiz Inc., Annual General Meeting, Jun 18, 2026Cadiz Inc., Annual General Meeting, Jun 18, 2026.お知らせ • Feb 04Cadiz, Inc. Appoints Dave O'Hara to Board of Directors, Effective February 4, 2026Cadiz Inc. announced that Mr. Dave O'Hara, a senior finance executive with extensive experience in corporate finance, commercial strategy and large-scale growth initiatives, has joined the Company's Board of Directors. Mr. O'Hara spent more than 20 years at Microsoft in senior executive leadership roles, most recently serving as Executive Vice President and Chief Financial Officer of Microsoft's Commercial Business Group. In that role, he was responsible for investment strategy, budgeting, forecasting, and financial analysis across some of the company's largest and most strategically important business units. His experience includes oversight of large-scale, long-duration capital investments such as data centers, cloud infrastructure, and global platform expansions. Earlier at Microsoft, Mr. O'Hara served as Chief Operating Officer of Microsoft Advertising and as Vice President of Business Development. Mr. O'Hara holds a Bachelor's degree in Economics and an MBA from the University of South Dakota. Mr. O'Hara's appointment to the Board is effective immediately.お知らせ • Apr 28Cadiz Inc., Annual General Meeting, Jun 12, 2025Cadiz Inc., Annual General Meeting, Jun 12, 2025.お知らせ • Mar 08Cadiz Inc. has filed a Follow-on Equity Offering in the amount of $20.0025 million.Cadiz Inc. has filed a Follow-on Equity Offering in the amount of $20.0025 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 5,715,000 Price\Range: $3.5 Discount Per Security: $0.25 Transaction Features: Registered Direct OfferingReported Earnings • Nov 14Third quarter 2024 earnings released: US$0.12 loss per share (vs US$0.12 loss in 3Q 2023)Third quarter 2024 results: US$0.12 loss per share (improved from US$0.12 loss in 3Q 2023). Net loss: US$8.06m (loss narrowed 1.7% from 3Q 2023). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.New Risk • Nov 10New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$25m net loss in 2 years). Share price has been volatile over the past 3 months (9.8% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding). Revenue is less than US$5m (US$2.7m revenue).お知らせ • Nov 05Cadiz Inc. has filed a Follow-on Equity Offering in the amount of $23.38 million.Cadiz Inc. has filed a Follow-on Equity Offering in the amount of $23.38 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 7,000,000 Price\Range: $3.34 Transaction Features: Registered Direct Offeringお知らせ • Sep 19Cadiz Inc. Appoints Cathryn Rivera as Chief Operating OfficerCadiz Inc. announced the appointment of Cathryn Rivera as Chief Operating Officer (COO), effective as of September 16, 2024. The Company began expanding the management team earlier this year with the appointment of CEO Susan Kennedy. As COO, Rivera is expected to lead the Company's operations in the execution phase of its groundwater banking project and scaling deployment of water treatment technologies to remove constituents such as arsenic, Chromium 6 and "forever chemicals." Rivera served as Appointments Secretary for California Governor Gavin Newsom from 2019 to 2024, finding the right people with the right skills for over 3,000 positions responsible for governing the 5th largest economy in the world. Throughout her tenure at the heart of California's governance, Rivera was tapped by Governors to interface with businesses and industry leaders to address complex challenges, often in a crisis. At the outset of the COVID pandemic she led a team to establish a web-based service within 72 hours to allow the state to acquire COVID supplies for distribution, worked with the California Manufacturing and Technology Association to assist small businesses with converting operations to manufacture protective supplies, and created programs to help essential workers protect themselves and the public on the front lines of the pandemic. Most recently, Rivera established two new independent Offices, within the executive branch, including the Governor's Office of Land Use and Climate Innovation, to ensure efforts and actions directed by Executive Order would continue beyond the governor's tenure. Before joining the Newsom Administration, Rivera served as a Board Member on the Agricultural Labor Relations Board, at the nexus of a critical workforce and the $57 billion agricultural industry. In this role, Ms. Rivera helped develop a level playing field for farmworkers and a regulatory framework for mandatory mediation that survived a decade of legal challenges, including at the Supreme Court of the United States. From 1999 to 2002 Rivera was the Chief Deputy Cabinet Secretary for Governor Gray Davis, serving as the Governor's key liaison to state agencies, departments, and boards. In that role, Rivera was responsible for the development and implementation of administration policies for the largest, most complex government agencies including Health and Human Services Agency and Department of Corrections and Rehabilitation and Department of Food and Agriculture. Previously, Rivera served on the Board of Directors for Planned Parenthood Mar Monte, the largest affiliate of the national organization overseeing a $100 million budget with 35 health centers in 42 counties across California and Nevada. Rivera has held positions as Treasurer, Vice-Chair and Chair during her tenure on the board. Rivera received a B.S. in Business Management from Arizona State University, graduating from The Barrett Honors College. She obtained her law degree from the University of California, Berkeley where she was co-editor-in-chief of the La Raza Law Journal.Reported Earnings • Aug 14Second quarter 2024 earnings released: US$0.13 loss per share (vs US$0.13 loss in 2Q 2023)Second quarter 2024 results: US$0.13 loss per share (further deteriorated from US$0.13 loss in 2Q 2023). Net loss: US$8.87m (loss widened 6.2% from 2Q 2023). Revenue is forecast to grow 43% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings.New Risk • Jul 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$23m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$21m net loss in 2 years). Share price has been volatile over the past 3 months (6.9% average weekly change). Revenue is less than US$5m (US$3.0m revenue).お知らせ • Jul 26Cadiz Inc. Announces Appointment of David Sickey as Senior AdvisorCadiz Inc. announced the appointment of David Sickey, the former distinguished Chairman of the Coushatta Tribe, as Senior Advisor for Energy and Water Projects, effective immediately. Chairman Sickey, an 18-year veteran of tribal government, recently concluded two years of service as Senior Consultant to the U.S. Department of Energy's (DOE) Loan Programs Office focused particularly on the Tribal Energy Finance Program. As a Senior Consultant for the DOE's Loan Programs Office, Sickey played a pivotal role in the Tribal Energy Finance Program, a program which saw its funding increase from $2 billion to $20 billion under the Biden administration's Inflation Reduction Act. Sickey was instrumental in shaping the initiative to empower tribal nations with sustainable energy solutions, assisting tribes with financing a broad range of energy and infrastructure projects - from solar and wind to microgrids, fuel cells, virtual power plants and bioenergy projects. His analytical skills and strategic communications were instrumental in aligning the program with community values, while also respecting the sovereignty and driving economic development of tribal lands. Sickey was elected to the governing body of the Coushatta Tribe of Louisiana in 2003, and two years later became tribal Vice-Chairman. In 2017, Sickey was elected to the position of Tribal Chairman. During his eighteen years as a member of tribal government, Sickey was focused on restructuring and improving government programs, increasing funding for health, education, culture, welfare, and elder programs, and expanding economic development. As Tribal Chairman, Sickey was responsible for steering the Coushatta Tribe through the COVID-19 pandemic. He oversaw the procurement and provision of health services, worked with numerous federal agencies and officials to secure federal funding for his tribe, and navigated the tribe's multi-million business through the pandemic's unstable financial throes. Notwithstanding the shutdowns and other significant hurdles imposed by the COVID pandemic, the Coushatta Tribe's business grew stronger. Sickey also helped the Coushatta Tribe overcome the impacts of multiple natural disasters. He was instrumental in helping his tribe obtain millions of dollars in state and federal grants that benefited the tribe and its surrounding communities. Throughout his years of dedicated public service, Sickey positioned the Coushatta Tribe to be a leader in national native American affairs, a partner with the State of Louisiana, a player in federal matters affecting Indian tribes, and a force for positive change throughout the United States. Cadiz, with 45,000 acres of land and water in the Mojave Desert, is developing one of the groundwater banking projects in the Southwestern U.S. and is providing water supply and clean water technology to disadvantaged communities in the Colorado River Basin and California's Inland Empire and desert communities, including Tribes that presently lack access to clean, reliable water.New Risk • Jul 01New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$23m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$23m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$21m net loss in 2 years). Revenue is less than US$5m (US$3.0m revenue).Reported Earnings • May 15First quarter 2024 earnings released: US$0.12 loss per share (vs US$0.19 loss in 1Q 2023)First quarter 2024 results: US$0.12 loss per share (improved from US$0.19 loss in 1Q 2023). Net loss: US$8.12m (loss narrowed 32% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings.お知らせ • Apr 28Cadiz Inc., Annual General Meeting, Jun 11, 2024Cadiz Inc., Annual General Meeting, Jun 11, 2024, at 10:00 Pacific Standard Time. Agenda: To consider the election of nine members of the Board of Directors, each to serve until the next annual meeting of stockholders or until their respective successors have been elected and qualified; to consider the adoption of an amendment to Certificate of Incorporation to increase the number of authorized shares of common stock; and to discuss other matters.Recent Insider Transactions • Apr 21CEO & Chairman recently bought €53k worth of stockOn the 18th of April, Susan Kennedy bought around 25k shares on-market at roughly €2.11 per share. This transaction amounted to 7.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Susan has been a buyer over the last 12 months, purchasing a net total of €132k worth in shares.Reported Earnings • Mar 30Full year 2023 earnings released: US$0.56 loss per share (vs US$0.60 loss in FY 2022)Full year 2023 results: US$0.56 loss per share. Net loss: US$36.6m (loss widened 22% from FY 2022).お知らせ • Mar 07Cadiz Inc. announced that it has received $20 million in funding from Heerema International Group Services SACadiz Inc. announced that it has entered into a Credit Agreement pursuant to which the Issuer borrowed fund in the form of convertible loan for the gross proceeds of $20,000,000 on March 6, 2024. The loan may be converted into common stock at a conversion price of $5.30 per share. The Issuer also issued 1,000,000 warrants to purchase common stock, exercisable at $5.00 per share.Board Change • Mar 05High number of new directorsIndependent Director Barbara Lloyd was the last director to join the board, commencing their role in 2024.お知らせ • Jan 05Cadiz Inc. Announces Resignation of Scott Slater as President and DirectorIn connection with the management transition plan of Cadiz Inc. announced that Scott Slater submitted his resignation on December 31, 2023, as President and a director of the Company effective as of such date. Mr. Slater’s resignation was not because of a disagreement with the Company on any matter relating to its operations, policies or practices. Mr. Slater will continue to serve as a senior advisor to the Company.お知らせ • Dec 17U.S. Bureau of Land Management Approves Mineral Leasing Act Right-Of-Way Grant to Cadiz for Northern PipelineCadiz Inc. announced that the U.S. Bureau of Land Management ("BLM") issued a final decision approving the assignment of a Mineral Leasing Act right-of-way ("ROW") grant to Cadiz for the Company's Northern Pipeline. BLM's approval of the ROW grant to Cadiz completes the Company's acquisition of the 220-mile pipeline from El Paso Natural Gas ("EPNG") and will allow the company to advance project development on several fronts. Cadiz completed purchase of the Northern Pipeline from EPNG in 2020. As part of the purchase agreement, EPNG assigned the 30-year MLA ROW grant to Cadiz subject to BLM's approval. Today's decision by the BLM approves EPNG's assignment of the MLA ROW to Cadiz as required under the 2020 purchase agreement.お知らせ • Dec 07Cadiz Inc. Appoints Susan Kennedy as Chief Executive Officer, Beginning January 1, 2024Cadiz Inc. announce that Susan Kennedy, Executive Chair of the Board of Directors, will step into a full-time role as the Company's Chief Executive Officer beginning January 1, 2024. Scott Slater, who has served as President and CEO of Cadiz since 2011, plans to continue to serve as a senior advisor to the Company. Scott Slater is a legendary water rights attorney with unmatched depth in some of the most complex and historic water transactions in United States' history. Slater was appointed President of Cadiz in 2011 and named CEO in 2013 while also maintaining his shareholder position at Brownstein, Hyatt, Farber, Schreck, ranked as one of the best law firms in the U.S. on Water Law and Land Use. The Board thanks Scott for leading the design and approval of the largest fully integrated groundwater conservation and storage project in California, and successfully defending the permits through a decade of litigation, appeals and regulatory challenges. Slater innovatively led the company's acquisition of pipeline assets from El Paso Natural Gas in 2020, setting the Company up to be first in the world to convert fossil fuel pipelines to transport water. In 2022, Slater led Cadiz' acquisition of ATEC Water Systems, a water filtration company with market-leading filtration technology able to address the rapidly increasing threat of groundwater contamination from iron and manganese, arsenic, nitrates, Chromium-6 and other chemicals. Kennedy, who has served as Cadiz's Executive Chair since 2021, will take over as full time CEO in January 2024. Slater plans to continue supporting Cadiz in 2024 in a consulting capacity, focused on completing numerous transactions related to the water supply and storage project, ATEC Systems, green hydrogen development and other commercial opportunities.Reported Earnings • Nov 15Third quarter 2023 earnings released: US$0.12 loss per share (vs US$0.15 loss in 3Q 2022)Third quarter 2023 results: US$0.12 loss per share. Net loss: US$8.20m (loss widened 5.0% from 3Q 2022).New Risk • Oct 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$26m free cash flow). Share price has been highly volatile over the past 3 months (8.4% average weekly change). Earnings have declined by 3.7% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (31% increase in shares outstanding). Revenue is less than US$5m (US$2.1m revenue).Reported Earnings • Aug 11Second quarter 2023 earnings released: US$0.13 loss per share (vs US$0.13 loss in 2Q 2022)Second quarter 2023 results: US$0.13 loss per share. Net loss: US$8.35m (loss widened 23% from 2Q 2022).New Risk • Jul 31New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$24m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$24m free cash flow). Earnings have declined by 2.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Revenue is less than US$5m (US$1.5m revenue).Reported Earnings • May 16First quarter 2023 earnings released: US$0.19 loss per share (vs US$0.16 loss in 1Q 2022)First quarter 2023 results: US$0.19 loss per share (further deteriorated from US$0.16 loss in 1Q 2022). Net loss: US$12.0m (loss widened 67% from 1Q 2022). Revenue is forecast to grow 98% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 31Full year 2022 earnings released: US$0.60 loss per share (vs US$0.84 loss in FY 2021)Full year 2022 results: US$0.60 loss per share (improved from US$0.84 loss in FY 2021). Net loss: US$29.9m (loss narrowed 12% from FY 2021). Revenue is forecast to grow 89% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings.Breakeven Date Change • Dec 05Forecast to breakeven in 2024The analyst covering Cadiz expects the company to break even for the first time. New forecast suggests the company will make a profit of US$14.1m in 2024. Average annual earnings growth of 77% is required to achieve expected profit on schedule.Reported Earnings • Nov 16Third quarter 2022 earnings released: US$0.15 loss per share (vs US$0.22 loss in 3Q 2021)Third quarter 2022 results: US$0.15 loss per share (improved from US$0.22 loss in 3Q 2021). Net loss: US$7.81m (loss narrowed 16% from 3Q 2021). Revenue is forecast to grow 134% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings.Reported Earnings • Aug 13Second quarter 2022 earnings released: US$0.13 loss per share (vs US$0.30 loss in 2Q 2021)Second quarter 2022 results: US$0.13 loss per share (up from US$0.30 loss in 2Q 2021). Net loss: US$6.77m (loss narrowed 41% from 2Q 2021). Over the next year, revenue is forecast to grow 513%, compared to a 6.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings.Reported Earnings • May 14First quarter 2022 earnings released: US$0.16 loss per share (vs US$0.16 loss in 1Q 2021)First quarter 2022 results: US$0.16 loss per share (down from US$0.16 loss in 1Q 2021). Net loss: US$7.18m (loss widened 21% from 1Q 2021). Over the next year, revenue is forecast to grow 1,022%, compared to a 4.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings.Breakeven Date Change • Apr 27Forecast breakeven date pushed back to 2024The analyst covering Cadiz previously expected the company to break even in 2023. New forecast suggests losses will reduce by 27% per year to 2023. The company is expected to make a profit of US$35.6m in 2024. Average annual earnings growth of 77% is required to achieve expected profit on schedule.Recent Insider Transactions • Apr 06Lead Independent Director recently bought €150k worth of stockOn the 4th of April, Winston Hickox bought around 77k shares on-market at roughly €1.93 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €424k more in shares than they have sold in the last 12 months.Reported Earnings • Mar 30Full year 2021 earnings released: US$0.84 loss per share (vs US$1.11 loss in FY 2020)Full year 2021 results: US$0.84 loss per share (up from US$1.11 loss in FY 2020). Net loss: US$34.0m (loss narrowed 10% from FY 2020). Over the next year, revenue is forecast to grow 673%, compared to a 3.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings.Recent Insider Transactions • Dec 16Founder & Chairman recently bought €80k worth of stockOn the 13th of December, Keith Brackpool bought around 25k shares on-market at roughly €3.19 per share. This was the largest purchase by an insider in the last 3 months. This was Keith's only on-market trade for the last 12 months.Reported Earnings • Nov 13Third quarter 2021 earnings released: US$0.22 loss per share (vs US$0.13 loss in 3Q 2020)Third quarter 2021 results: Net loss: US$9.29m (loss widened 107% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.Breakeven Date Change • Sep 23Forecast to breakeven in 2023The analyst covering Cadiz expects the company to break even for the first time. New forecast suggests the company will make a profit of US$10.2m in 2023. Average annual earnings growth of 75% is required to achieve expected profit on schedule.Reported Earnings • Aug 14Second quarter 2021 earnings released: US$0.30 loss per share (vs US$0.14 loss in 2Q 2020)Second quarter 2021 results: Net loss: US$11.6m (loss widened 141% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year.Executive Departure • Jun 24Independent Director Murray Hutchison has left the companyOn the 17th of June, Murray Hutchison's tenure as Independent Director ended after 24.1 years in the role. As of March 2021, Murray still personally held 63.69k shares (€503k worth at the time). A total of 2 executives have left over the last 12 months.Executive Departure • Jun 24Independent Director Richard Nevins has left the companyOn the 17th of June, Richard Nevins' tenure as Independent Director ended after 5.0 years in the role. As of March 2021, Richard still personally held 23.65k shares (€187k worth at the time). A total of 2 executives have left over the last 12 months.Executive Departure • Jun 23Independent Director Richard Nevins has left the companyOn the 17th of June, Richard Nevins' tenure as Independent Director ended after 5.0 years in the role. As of March 2021, Richard still personally held 23.65k shares (€187k worth at the time). A total of 2 executives have left over the last 12 months.Executive Departure • Jun 23Independent Director Murray Hutchison has left the companyOn the 17th of June, Murray Hutchison's tenure as Independent Director ended after 24.1 years in the role. As of March 2021, Murray still personally held 63.69k shares (€503k worth at the time). A total of 2 executives have left over the last 12 months.Reported Earnings • May 18First quarter 2021 earnings released: US$0.16 loss per share (vs US$0.66 loss in 1Q 2020)First quarter 2021 results: Net loss: US$5.94m (loss narrowed 71% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 27Full year 2020 earnings released: US$1.11 loss per share (vs US$1.11 loss in FY 2019)Full year 2020 results: Net loss: US$37.8m (loss widened 28% from FY 2019). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Feb 16New 90-day high: €9.45The company is up 15% from its price of €8.25 on 18 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Water Utilities industry, which is down 2.0% over the same period.Is New 90 Day High Low • Jan 29New 90-day high: €9.20The company is up 13% from its price of €8.15 on 30 October 2020. The German market is up 20% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is up 1.0% over the same period.Is New 90 Day High Low • Jan 14New 90-day high: €8.80The company is up 5.0% from its price of €8.40 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is down 1.0% over the same period.Is New 90 Day High Low • Dec 30New 90-day high: €8.70The company is up 3.0% from its price of €8.45 on 01 October 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is down 2.0% over the same period.Reported Earnings • Nov 08Third quarter 2020 earnings released: US$0.13 loss per shareThird quarter 2020 results: Net loss: US$4.49m (loss narrowed 40% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.Is New 90 Day High Low • Sep 22New 90-day low: €8.25The company is down 10.0% from its price of €9.15 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is down 7.0% over the same period.業績と収益の成長予測DB:2ZC - アナリストの将来予測と過去の財務データ ( )USD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/20288945N/AN/A112/31/202737-21-34-21312/31/202618-37-41-32312/31/202516-39-27-19N/A9/30/202516-38-25-18N/A6/30/202515-38-23-17N/A3/31/202511-39-24-22N/A12/31/202410-36-22-22N/A9/30/20246-34-23-21N/A6/30/20243-35-24-21N/A3/31/20243-33-23-20N/A12/31/20232-37-27-21N/A9/30/20232-37-25-21N/A6/30/20232-36-26-21N/A3/31/20231-35-24-19N/A12/31/20222-30-22-19N/A9/30/20221-29-23-19N/A6/30/20221-30-21-17N/A3/31/20221-35-39-16N/A12/31/20211-34-38-15N/A9/30/20211-35-34-13N/A6/30/20211-30-34-12N/A3/31/20211-23-15-12N/A12/31/20201-38-19-13N/A9/30/20201-37-19-13N/A6/30/20200-40-19-14N/A3/31/20200-43-19-14N/A12/31/20190-30-15-14N/A9/30/20190-30N/A-14N/A6/30/20190-29N/A-13N/A3/31/20190-28N/A-12N/A12/31/20180-26N/A-12N/A9/30/20180-25N/A-11N/A6/30/20180-25N/A-12N/A3/31/20180-33N/A-12N/A12/31/20170-34N/A-10N/A9/30/20170-34N/A-11N/A6/30/20170-33N/A-10N/A3/31/20170-25N/A-11N/A12/31/20160-26N/A-10N/A9/30/20160-27N/A-10N/A6/30/20160-28N/A-12N/A3/31/20160-28N/A-11N/A12/31/20150-24N/A-13N/A9/30/20150-22N/A-11N/A6/30/20150-21N/A-9N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 2ZCは今後 3 年間で収益性が向上すると予測されており、これは 貯蓄率 ( 1.9% ) よりも高い成長率であると考えられます。収益対市場: 2ZC今後 3 年間で収益性が向上すると予想されており、これは市場平均を上回る成長と考えられます。高成長収益: 2ZC今後 3 年以内に収益を上げることが予想されます。収益対市場: 2ZCの収益 ( 39.8% ) German市場 ( 6.5% ) よりも速いペースで成長すると予測されています。高い収益成長: 2ZCの収益 ( 39.8% ) 20%よりも速いペースで成長すると予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 2ZCの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YUtilities 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/07 07:11終値2026/05/07 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Cadiz Inc. 3 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。3 アナリスト機関Michael CrawfordB. Riley Securities, Inc.Tate SullivanMaxim GroupGerard SweeneyRoth Capital Partners
Breakeven Date Change • Dec 05Forecast to breakeven in 2024The analyst covering Cadiz expects the company to break even for the first time. New forecast suggests the company will make a profit of US$14.1m in 2024. Average annual earnings growth of 77% is required to achieve expected profit on schedule.
Breakeven Date Change • Apr 27Forecast breakeven date pushed back to 2024The analyst covering Cadiz previously expected the company to break even in 2023. New forecast suggests losses will reduce by 27% per year to 2023. The company is expected to make a profit of US$35.6m in 2024. Average annual earnings growth of 77% is required to achieve expected profit on schedule.
Breakeven Date Change • Sep 23Forecast to breakeven in 2023The analyst covering Cadiz expects the company to break even for the first time. New forecast suggests the company will make a profit of US$10.2m in 2023. Average annual earnings growth of 75% is required to achieve expected profit on schedule.
お知らせ • Apr 21Cadiz Inc., Annual General Meeting, Jun 18, 2026Cadiz Inc., Annual General Meeting, Jun 18, 2026.
お知らせ • Feb 04Cadiz, Inc. Appoints Dave O'Hara to Board of Directors, Effective February 4, 2026Cadiz Inc. announced that Mr. Dave O'Hara, a senior finance executive with extensive experience in corporate finance, commercial strategy and large-scale growth initiatives, has joined the Company's Board of Directors. Mr. O'Hara spent more than 20 years at Microsoft in senior executive leadership roles, most recently serving as Executive Vice President and Chief Financial Officer of Microsoft's Commercial Business Group. In that role, he was responsible for investment strategy, budgeting, forecasting, and financial analysis across some of the company's largest and most strategically important business units. His experience includes oversight of large-scale, long-duration capital investments such as data centers, cloud infrastructure, and global platform expansions. Earlier at Microsoft, Mr. O'Hara served as Chief Operating Officer of Microsoft Advertising and as Vice President of Business Development. Mr. O'Hara holds a Bachelor's degree in Economics and an MBA from the University of South Dakota. Mr. O'Hara's appointment to the Board is effective immediately.
お知らせ • Apr 28Cadiz Inc., Annual General Meeting, Jun 12, 2025Cadiz Inc., Annual General Meeting, Jun 12, 2025.
お知らせ • Mar 08Cadiz Inc. has filed a Follow-on Equity Offering in the amount of $20.0025 million.Cadiz Inc. has filed a Follow-on Equity Offering in the amount of $20.0025 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 5,715,000 Price\Range: $3.5 Discount Per Security: $0.25 Transaction Features: Registered Direct Offering
Reported Earnings • Nov 14Third quarter 2024 earnings released: US$0.12 loss per share (vs US$0.12 loss in 3Q 2023)Third quarter 2024 results: US$0.12 loss per share (improved from US$0.12 loss in 3Q 2023). Net loss: US$8.06m (loss narrowed 1.7% from 3Q 2023). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
New Risk • Nov 10New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$25m net loss in 2 years). Share price has been volatile over the past 3 months (9.8% average weekly change). Shareholders have been diluted in the past year (13% increase in shares outstanding). Revenue is less than US$5m (US$2.7m revenue).
お知らせ • Nov 05Cadiz Inc. has filed a Follow-on Equity Offering in the amount of $23.38 million.Cadiz Inc. has filed a Follow-on Equity Offering in the amount of $23.38 million. Security Name: Common Stock Security Type: Common Stock Securities Offered: 7,000,000 Price\Range: $3.34 Transaction Features: Registered Direct Offering
お知らせ • Sep 19Cadiz Inc. Appoints Cathryn Rivera as Chief Operating OfficerCadiz Inc. announced the appointment of Cathryn Rivera as Chief Operating Officer (COO), effective as of September 16, 2024. The Company began expanding the management team earlier this year with the appointment of CEO Susan Kennedy. As COO, Rivera is expected to lead the Company's operations in the execution phase of its groundwater banking project and scaling deployment of water treatment technologies to remove constituents such as arsenic, Chromium 6 and "forever chemicals." Rivera served as Appointments Secretary for California Governor Gavin Newsom from 2019 to 2024, finding the right people with the right skills for over 3,000 positions responsible for governing the 5th largest economy in the world. Throughout her tenure at the heart of California's governance, Rivera was tapped by Governors to interface with businesses and industry leaders to address complex challenges, often in a crisis. At the outset of the COVID pandemic she led a team to establish a web-based service within 72 hours to allow the state to acquire COVID supplies for distribution, worked with the California Manufacturing and Technology Association to assist small businesses with converting operations to manufacture protective supplies, and created programs to help essential workers protect themselves and the public on the front lines of the pandemic. Most recently, Rivera established two new independent Offices, within the executive branch, including the Governor's Office of Land Use and Climate Innovation, to ensure efforts and actions directed by Executive Order would continue beyond the governor's tenure. Before joining the Newsom Administration, Rivera served as a Board Member on the Agricultural Labor Relations Board, at the nexus of a critical workforce and the $57 billion agricultural industry. In this role, Ms. Rivera helped develop a level playing field for farmworkers and a regulatory framework for mandatory mediation that survived a decade of legal challenges, including at the Supreme Court of the United States. From 1999 to 2002 Rivera was the Chief Deputy Cabinet Secretary for Governor Gray Davis, serving as the Governor's key liaison to state agencies, departments, and boards. In that role, Rivera was responsible for the development and implementation of administration policies for the largest, most complex government agencies including Health and Human Services Agency and Department of Corrections and Rehabilitation and Department of Food and Agriculture. Previously, Rivera served on the Board of Directors for Planned Parenthood Mar Monte, the largest affiliate of the national organization overseeing a $100 million budget with 35 health centers in 42 counties across California and Nevada. Rivera has held positions as Treasurer, Vice-Chair and Chair during her tenure on the board. Rivera received a B.S. in Business Management from Arizona State University, graduating from The Barrett Honors College. She obtained her law degree from the University of California, Berkeley where she was co-editor-in-chief of the La Raza Law Journal.
Reported Earnings • Aug 14Second quarter 2024 earnings released: US$0.13 loss per share (vs US$0.13 loss in 2Q 2023)Second quarter 2024 results: US$0.13 loss per share (further deteriorated from US$0.13 loss in 2Q 2023). Net loss: US$8.87m (loss widened 6.2% from 2Q 2023). Revenue is forecast to grow 43% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings.
New Risk • Jul 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$23m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$21m net loss in 2 years). Share price has been volatile over the past 3 months (6.9% average weekly change). Revenue is less than US$5m (US$3.0m revenue).
お知らせ • Jul 26Cadiz Inc. Announces Appointment of David Sickey as Senior AdvisorCadiz Inc. announced the appointment of David Sickey, the former distinguished Chairman of the Coushatta Tribe, as Senior Advisor for Energy and Water Projects, effective immediately. Chairman Sickey, an 18-year veteran of tribal government, recently concluded two years of service as Senior Consultant to the U.S. Department of Energy's (DOE) Loan Programs Office focused particularly on the Tribal Energy Finance Program. As a Senior Consultant for the DOE's Loan Programs Office, Sickey played a pivotal role in the Tribal Energy Finance Program, a program which saw its funding increase from $2 billion to $20 billion under the Biden administration's Inflation Reduction Act. Sickey was instrumental in shaping the initiative to empower tribal nations with sustainable energy solutions, assisting tribes with financing a broad range of energy and infrastructure projects - from solar and wind to microgrids, fuel cells, virtual power plants and bioenergy projects. His analytical skills and strategic communications were instrumental in aligning the program with community values, while also respecting the sovereignty and driving economic development of tribal lands. Sickey was elected to the governing body of the Coushatta Tribe of Louisiana in 2003, and two years later became tribal Vice-Chairman. In 2017, Sickey was elected to the position of Tribal Chairman. During his eighteen years as a member of tribal government, Sickey was focused on restructuring and improving government programs, increasing funding for health, education, culture, welfare, and elder programs, and expanding economic development. As Tribal Chairman, Sickey was responsible for steering the Coushatta Tribe through the COVID-19 pandemic. He oversaw the procurement and provision of health services, worked with numerous federal agencies and officials to secure federal funding for his tribe, and navigated the tribe's multi-million business through the pandemic's unstable financial throes. Notwithstanding the shutdowns and other significant hurdles imposed by the COVID pandemic, the Coushatta Tribe's business grew stronger. Sickey also helped the Coushatta Tribe overcome the impacts of multiple natural disasters. He was instrumental in helping his tribe obtain millions of dollars in state and federal grants that benefited the tribe and its surrounding communities. Throughout his years of dedicated public service, Sickey positioned the Coushatta Tribe to be a leader in national native American affairs, a partner with the State of Louisiana, a player in federal matters affecting Indian tribes, and a force for positive change throughout the United States. Cadiz, with 45,000 acres of land and water in the Mojave Desert, is developing one of the groundwater banking projects in the Southwestern U.S. and is providing water supply and clean water technology to disadvantaged communities in the Colorado River Basin and California's Inland Empire and desert communities, including Tribes that presently lack access to clean, reliable water.
New Risk • Jul 01New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$23m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$23m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$21m net loss in 2 years). Revenue is less than US$5m (US$3.0m revenue).
Reported Earnings • May 15First quarter 2024 earnings released: US$0.12 loss per share (vs US$0.19 loss in 1Q 2023)First quarter 2024 results: US$0.12 loss per share (improved from US$0.19 loss in 1Q 2023). Net loss: US$8.12m (loss narrowed 32% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings.
お知らせ • Apr 28Cadiz Inc., Annual General Meeting, Jun 11, 2024Cadiz Inc., Annual General Meeting, Jun 11, 2024, at 10:00 Pacific Standard Time. Agenda: To consider the election of nine members of the Board of Directors, each to serve until the next annual meeting of stockholders or until their respective successors have been elected and qualified; to consider the adoption of an amendment to Certificate of Incorporation to increase the number of authorized shares of common stock; and to discuss other matters.
Recent Insider Transactions • Apr 21CEO & Chairman recently bought €53k worth of stockOn the 18th of April, Susan Kennedy bought around 25k shares on-market at roughly €2.11 per share. This transaction amounted to 7.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Susan has been a buyer over the last 12 months, purchasing a net total of €132k worth in shares.
Reported Earnings • Mar 30Full year 2023 earnings released: US$0.56 loss per share (vs US$0.60 loss in FY 2022)Full year 2023 results: US$0.56 loss per share. Net loss: US$36.6m (loss widened 22% from FY 2022).
お知らせ • Mar 07Cadiz Inc. announced that it has received $20 million in funding from Heerema International Group Services SACadiz Inc. announced that it has entered into a Credit Agreement pursuant to which the Issuer borrowed fund in the form of convertible loan for the gross proceeds of $20,000,000 on March 6, 2024. The loan may be converted into common stock at a conversion price of $5.30 per share. The Issuer also issued 1,000,000 warrants to purchase common stock, exercisable at $5.00 per share.
Board Change • Mar 05High number of new directorsIndependent Director Barbara Lloyd was the last director to join the board, commencing their role in 2024.
お知らせ • Jan 05Cadiz Inc. Announces Resignation of Scott Slater as President and DirectorIn connection with the management transition plan of Cadiz Inc. announced that Scott Slater submitted his resignation on December 31, 2023, as President and a director of the Company effective as of such date. Mr. Slater’s resignation was not because of a disagreement with the Company on any matter relating to its operations, policies or practices. Mr. Slater will continue to serve as a senior advisor to the Company.
お知らせ • Dec 17U.S. Bureau of Land Management Approves Mineral Leasing Act Right-Of-Way Grant to Cadiz for Northern PipelineCadiz Inc. announced that the U.S. Bureau of Land Management ("BLM") issued a final decision approving the assignment of a Mineral Leasing Act right-of-way ("ROW") grant to Cadiz for the Company's Northern Pipeline. BLM's approval of the ROW grant to Cadiz completes the Company's acquisition of the 220-mile pipeline from El Paso Natural Gas ("EPNG") and will allow the company to advance project development on several fronts. Cadiz completed purchase of the Northern Pipeline from EPNG in 2020. As part of the purchase agreement, EPNG assigned the 30-year MLA ROW grant to Cadiz subject to BLM's approval. Today's decision by the BLM approves EPNG's assignment of the MLA ROW to Cadiz as required under the 2020 purchase agreement.
お知らせ • Dec 07Cadiz Inc. Appoints Susan Kennedy as Chief Executive Officer, Beginning January 1, 2024Cadiz Inc. announce that Susan Kennedy, Executive Chair of the Board of Directors, will step into a full-time role as the Company's Chief Executive Officer beginning January 1, 2024. Scott Slater, who has served as President and CEO of Cadiz since 2011, plans to continue to serve as a senior advisor to the Company. Scott Slater is a legendary water rights attorney with unmatched depth in some of the most complex and historic water transactions in United States' history. Slater was appointed President of Cadiz in 2011 and named CEO in 2013 while also maintaining his shareholder position at Brownstein, Hyatt, Farber, Schreck, ranked as one of the best law firms in the U.S. on Water Law and Land Use. The Board thanks Scott for leading the design and approval of the largest fully integrated groundwater conservation and storage project in California, and successfully defending the permits through a decade of litigation, appeals and regulatory challenges. Slater innovatively led the company's acquisition of pipeline assets from El Paso Natural Gas in 2020, setting the Company up to be first in the world to convert fossil fuel pipelines to transport water. In 2022, Slater led Cadiz' acquisition of ATEC Water Systems, a water filtration company with market-leading filtration technology able to address the rapidly increasing threat of groundwater contamination from iron and manganese, arsenic, nitrates, Chromium-6 and other chemicals. Kennedy, who has served as Cadiz's Executive Chair since 2021, will take over as full time CEO in January 2024. Slater plans to continue supporting Cadiz in 2024 in a consulting capacity, focused on completing numerous transactions related to the water supply and storage project, ATEC Systems, green hydrogen development and other commercial opportunities.
Reported Earnings • Nov 15Third quarter 2023 earnings released: US$0.12 loss per share (vs US$0.15 loss in 3Q 2022)Third quarter 2023 results: US$0.12 loss per share. Net loss: US$8.20m (loss widened 5.0% from 3Q 2022).
New Risk • Oct 05New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$26m free cash flow). Share price has been highly volatile over the past 3 months (8.4% average weekly change). Earnings have declined by 3.7% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (31% increase in shares outstanding). Revenue is less than US$5m (US$2.1m revenue).
Reported Earnings • Aug 11Second quarter 2023 earnings released: US$0.13 loss per share (vs US$0.13 loss in 2Q 2022)Second quarter 2023 results: US$0.13 loss per share. Net loss: US$8.35m (loss widened 23% from 2Q 2022).
New Risk • Jul 31New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$24m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$24m free cash flow). Earnings have declined by 2.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Revenue is less than US$5m (US$1.5m revenue).
Reported Earnings • May 16First quarter 2023 earnings released: US$0.19 loss per share (vs US$0.16 loss in 1Q 2022)First quarter 2023 results: US$0.19 loss per share (further deteriorated from US$0.16 loss in 1Q 2022). Net loss: US$12.0m (loss widened 67% from 1Q 2022). Revenue is forecast to grow 98% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 31Full year 2022 earnings released: US$0.60 loss per share (vs US$0.84 loss in FY 2021)Full year 2022 results: US$0.60 loss per share (improved from US$0.84 loss in FY 2021). Net loss: US$29.9m (loss narrowed 12% from FY 2021). Revenue is forecast to grow 89% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings.
Breakeven Date Change • Dec 05Forecast to breakeven in 2024The analyst covering Cadiz expects the company to break even for the first time. New forecast suggests the company will make a profit of US$14.1m in 2024. Average annual earnings growth of 77% is required to achieve expected profit on schedule.
Reported Earnings • Nov 16Third quarter 2022 earnings released: US$0.15 loss per share (vs US$0.22 loss in 3Q 2021)Third quarter 2022 results: US$0.15 loss per share (improved from US$0.22 loss in 3Q 2021). Net loss: US$7.81m (loss narrowed 16% from 3Q 2021). Revenue is forecast to grow 134% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Global Water Utilities industry. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings.
Reported Earnings • Aug 13Second quarter 2022 earnings released: US$0.13 loss per share (vs US$0.30 loss in 2Q 2021)Second quarter 2022 results: US$0.13 loss per share (up from US$0.30 loss in 2Q 2021). Net loss: US$6.77m (loss narrowed 41% from 2Q 2021). Over the next year, revenue is forecast to grow 513%, compared to a 6.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings.
Reported Earnings • May 14First quarter 2022 earnings released: US$0.16 loss per share (vs US$0.16 loss in 1Q 2021)First quarter 2022 results: US$0.16 loss per share (down from US$0.16 loss in 1Q 2021). Net loss: US$7.18m (loss widened 21% from 1Q 2021). Over the next year, revenue is forecast to grow 1,022%, compared to a 4.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings.
Breakeven Date Change • Apr 27Forecast breakeven date pushed back to 2024The analyst covering Cadiz previously expected the company to break even in 2023. New forecast suggests losses will reduce by 27% per year to 2023. The company is expected to make a profit of US$35.6m in 2024. Average annual earnings growth of 77% is required to achieve expected profit on schedule.
Recent Insider Transactions • Apr 06Lead Independent Director recently bought €150k worth of stockOn the 4th of April, Winston Hickox bought around 77k shares on-market at roughly €1.93 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €424k more in shares than they have sold in the last 12 months.
Reported Earnings • Mar 30Full year 2021 earnings released: US$0.84 loss per share (vs US$1.11 loss in FY 2020)Full year 2021 results: US$0.84 loss per share (up from US$1.11 loss in FY 2020). Net loss: US$34.0m (loss narrowed 10% from FY 2020). Over the next year, revenue is forecast to grow 673%, compared to a 3.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings.
Recent Insider Transactions • Dec 16Founder & Chairman recently bought €80k worth of stockOn the 13th of December, Keith Brackpool bought around 25k shares on-market at roughly €3.19 per share. This was the largest purchase by an insider in the last 3 months. This was Keith's only on-market trade for the last 12 months.
Reported Earnings • Nov 13Third quarter 2021 earnings released: US$0.22 loss per share (vs US$0.13 loss in 3Q 2020)Third quarter 2021 results: Net loss: US$9.29m (loss widened 107% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
Breakeven Date Change • Sep 23Forecast to breakeven in 2023The analyst covering Cadiz expects the company to break even for the first time. New forecast suggests the company will make a profit of US$10.2m in 2023. Average annual earnings growth of 75% is required to achieve expected profit on schedule.
Reported Earnings • Aug 14Second quarter 2021 earnings released: US$0.30 loss per share (vs US$0.14 loss in 2Q 2020)Second quarter 2021 results: Net loss: US$11.6m (loss widened 141% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year.
Executive Departure • Jun 24Independent Director Murray Hutchison has left the companyOn the 17th of June, Murray Hutchison's tenure as Independent Director ended after 24.1 years in the role. As of March 2021, Murray still personally held 63.69k shares (€503k worth at the time). A total of 2 executives have left over the last 12 months.
Executive Departure • Jun 24Independent Director Richard Nevins has left the companyOn the 17th of June, Richard Nevins' tenure as Independent Director ended after 5.0 years in the role. As of March 2021, Richard still personally held 23.65k shares (€187k worth at the time). A total of 2 executives have left over the last 12 months.
Executive Departure • Jun 23Independent Director Richard Nevins has left the companyOn the 17th of June, Richard Nevins' tenure as Independent Director ended after 5.0 years in the role. As of March 2021, Richard still personally held 23.65k shares (€187k worth at the time). A total of 2 executives have left over the last 12 months.
Executive Departure • Jun 23Independent Director Murray Hutchison has left the companyOn the 17th of June, Murray Hutchison's tenure as Independent Director ended after 24.1 years in the role. As of March 2021, Murray still personally held 63.69k shares (€503k worth at the time). A total of 2 executives have left over the last 12 months.
Reported Earnings • May 18First quarter 2021 earnings released: US$0.16 loss per share (vs US$0.66 loss in 1Q 2020)First quarter 2021 results: Net loss: US$5.94m (loss narrowed 71% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 27Full year 2020 earnings released: US$1.11 loss per share (vs US$1.11 loss in FY 2019)Full year 2020 results: Net loss: US$37.8m (loss widened 28% from FY 2019). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Feb 16New 90-day high: €9.45The company is up 15% from its price of €8.25 on 18 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Water Utilities industry, which is down 2.0% over the same period.
Is New 90 Day High Low • Jan 29New 90-day high: €9.20The company is up 13% from its price of €8.15 on 30 October 2020. The German market is up 20% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is up 1.0% over the same period.
Is New 90 Day High Low • Jan 14New 90-day high: €8.80The company is up 5.0% from its price of €8.40 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is down 1.0% over the same period.
Is New 90 Day High Low • Dec 30New 90-day high: €8.70The company is up 3.0% from its price of €8.45 on 01 October 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Water Utilities industry, which is down 2.0% over the same period.
Reported Earnings • Nov 08Third quarter 2020 earnings released: US$0.13 loss per shareThird quarter 2020 results: Net loss: US$4.49m (loss narrowed 40% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
Is New 90 Day High Low • Sep 22New 90-day low: €8.25The company is down 10.0% from its price of €9.15 on 24 June 2020. The German market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Water Utilities industry, which is down 7.0% over the same period.