Codexis, Inc.

LSE:0I0X Stock Report

Market Cap: US$347.5m

Codexis Valuation

Is 0I0X undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0I0X when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$6.51
Fair Value
31.2% undervalued intrinsic discount
6
Number of Analysts

Below Fair Value: 0I0X ($4.48) is trading below our estimate of fair value ($6.51)

Significantly Below Fair Value: 0I0X is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0I0X?

Key metric: As 0I0X is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0I0X. This is calculated by dividing 0I0X's market cap by their current revenue.
What is 0I0X's PS Ratio?
PS Ratio5.4x
SalesUS$64.45m
Market CapUS$347.48m

Price to Sales Ratio vs Peers

How does 0I0X's PS Ratio compare to its peers?

The above table shows the PS ratio for 0I0X vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6x
MXCT MaxCyte
10x24.0%UK£371.1m
HVO hVIVO
1.9x7.8%UK£130.0m
DXRX Diaceutics
4.3x1.7%UK£113.2m
ONT Oxford Nanopore Technologies
7.8x22.1%UK£1.3b
0I0X Codexis
5.4x20.7%US$347.5m

Price-To-Sales vs Peers: 0I0X is good value based on its Price-To-Sales Ratio (5.4x) compared to the peer average (6x).

Price to Sales Ratio vs Industry

How does 0I0X's PS Ratio compare vs other companies in the European Life Sciences Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
0I0X 5.4xIndustry Avg. 4.1xNo. of Companies7PS03.26.49.612.816+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 0I0X is expensive based on its Price-To-Sales Ratio (5.4x) compared to the European Life Sciences industry average (4.1x).

Price to Sales Ratio vs Fair Ratio

What is 0I0X's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0I0X PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.4x
Fair PS Ratio2.2x

Price-To-Sales vs Fair Ratio: 0I0X is expensive based on its Price-To-Sales Ratio (5.4x) compared to the estimated Fair Price-To-Sales Ratio (2.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0I0X forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$4.46
US$7.50
+68.2%
37.5%US$11.00US$3.00n/a6
Jan ’26US$4.63
US$7.17
+54.8%
41.4%US$11.00US$3.00n/a6
Dec ’25US$4.60
US$7.17
+56.0%
41.4%US$11.00US$3.00n/a6
Nov ’25US$3.48
US$7.17
+105.9%
41.4%US$11.00US$3.00n/a6
Oct ’25US$3.04
US$6.86
+125.6%
41.6%US$11.00US$3.00n/a7
Sep ’25US$2.89
US$6.86
+137.2%
41.6%US$11.00US$3.00n/a7
Aug ’25US$3.47
US$7.13
+105.6%
38.7%US$11.00US$3.00n/a8
Jul ’25US$2.98
US$7.13
+139.0%
38.7%US$11.00US$3.00n/a8
Jun ’25US$3.35
US$7.13
+112.6%
38.7%US$11.00US$3.00n/a8
May ’25US$3.10
US$6.57
+112.0%
38.0%US$10.00US$3.00n/a7
Apr ’25US$3.48
US$6.57
+88.8%
38.0%US$10.00US$3.00n/a7
Mar ’25US$4.56
US$6.57
+44.1%
38.0%US$10.00US$3.00n/a7
Feb ’25US$2.75
US$6.00
+118.3%
43.0%US$10.00US$3.00US$4.266
Jan ’25US$3.02
US$5.83
+93.2%
47.9%US$10.00US$2.00US$4.636
Dec ’24US$2.36
US$5.83
+147.1%
47.9%US$10.00US$2.00US$4.606
Nov ’24US$1.66
US$7.43
+347.5%
49.3%US$14.00US$4.00US$3.487
Oct ’24US$1.88
US$7.71
+310.3%
44.8%US$14.00US$4.00US$3.047
Sep ’24US$1.83
US$7.71
+321.6%
44.8%US$14.00US$4.00US$2.897
Aug ’24US$3.31
US$11.75
+255.1%
40.2%US$21.00US$6.50US$3.476
Jul ’24US$2.80
US$11.14
+298.7%
41.7%US$21.00US$6.00US$2.987
Jun ’24US$2.42
US$11.14
+360.7%
41.7%US$21.00US$6.00US$3.357
May ’24US$3.98
US$12.00
+201.5%
35.1%US$21.00US$7.00US$3.108
Apr ’24US$4.14
US$12.88
+210.9%
40.1%US$21.00US$7.00US$3.488
Mar ’24US$4.91
US$12.88
+162.2%
40.1%US$21.00US$7.00US$4.568
Feb ’24US$6.49
US$14.25
+119.6%
35.7%US$23.00US$7.00US$2.758
Analyst Price Target
Consensus Narrative from 6 Analysts
US$7.87
Fair Value
43.1% undervalued intrinsic discount
6
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/04 20:44
End of Day Share Price 2025/02/04 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Codexis, Inc. is covered by 20 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
J. HorwitzBaird
Vishal ShahBarclays
Robert WassermanBenchmark Company