company background image
CODX

Co-DiagnosticsNasdaqCM:CODX Stock Report

Market Cap

US$282.0m

7D

-2.6%

1Y

-31.9%

Updated

25 Sep, 2021

Data

Company Financials +
CODX fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance6/6
Financial Health6/6
Dividends0/6

CODX Overview

Co-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules.

Co-Diagnostics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Co-Diagnostics
Historical stock prices
Current Share PriceUS$9.76
52 Week HighUS$7.01
52 Week LowUS$20.69
Beta-1.96
1 Month Change-11.11%
3 Month Change14.02%
1 Year Change-31.94%
3 Year Change271.10%
5 Year Changen/a
Change since IPO67.99%

Recent News & Updates

Aug 19

Why Co-Diagnostics Is A Solid Covid-19 Play

Co-Diagnostics shares rallied after the company posted strong quarterly results. Total addressable market expanding. Stock steeply undervalued and scores a Seeking Alpha Quant Score of 'A' on key metrics.

Aug 14
Co-Diagnostics, Inc.'s (NASDAQ:CODX) Share Price Boosted 42% But Its Business Prospects Need A Lift Too

Co-Diagnostics, Inc.'s (NASDAQ:CODX) Share Price Boosted 42% But Its Business Prospects Need A Lift Too

Co-Diagnostics, Inc. ( NASDAQ:CODX ) shareholders would be excited to see that the share price has had a great month...

Shareholder Returns

CODXUS Medical EquipmentUS Market
7D-2.6%-0.2%0.1%
1Y-31.9%36.8%35.3%

Return vs Industry: CODX underperformed the US Medical Equipment industry which returned 36.8% over the past year.

Return vs Market: CODX underperformed the US Market which returned 35.3% over the past year.

Price Volatility

Is CODX's price volatile compared to industry and market?
CODX volatility
CODX Beta-1.96
Industry Beta0.88
Market Beta1

Stable Share Price: CODX is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: CODX's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
201339Dwight Eganhttps://www.codiagnostics.com

Co-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules. It offers polymerase chain reaction (PCR) diagnostic tests for COVID-19, tuberculosis, hepatitis B and C, human papilloma virus, malaria, chikungunya, dengue, and the zika virus; three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; and liquid biopsy test for cancer screening. The company also provides tests that identify genetic traits in plant and animal genomes.

Co-Diagnostics Fundamentals Summary

How do Co-Diagnostics's earnings and revenue compare to its market cap?
CODX fundamental statistics
Market CapUS$281.97m
Earnings (TTM)US$46.22m
Revenue (TTM)US$96.35m

6.1x

P/E Ratio

2.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CODX income statement (TTM)
RevenueUS$96.35m
Cost of RevenueUS$15.91m
Gross ProfitUS$80.44m
ExpensesUS$34.21m
EarningsUS$46.22m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.60
Gross Margin83.49%
Net Profit Margin47.98%
Debt/Equity Ratio0.0%

How did CODX perform over the long term?

See historical performance and comparison

Valuation

Is Co-Diagnostics undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CODX ($9.76) is trading below our estimate of fair value ($462.98)

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


Price To Earnings Ratio

PE vs Industry: CODX is good value based on its PE Ratio (6.1x) compared to the US Medical Equipment industry average (52.3x).

PE vs Market: CODX is good value based on its PE Ratio (6.1x) compared to the US market (17.9x).


Price to Earnings Growth Ratio

PEG Ratio: CODX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CODX is good value based on its PB Ratio (3.2x) compared to the US Medical Equipment industry average (4.8x).


Future Growth

How is Co-Diagnostics forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-42.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CODX's earnings are forecast to decline over the next 3 years (-42.8% per year).

Earnings vs Market: CODX's earnings are forecast to decline over the next 3 years (-42.8% per year).

High Growth Earnings: CODX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CODX's revenue is expected to decline over the next 3 years (-3.1% per year).

High Growth Revenue: CODX's revenue is forecast to decline over the next 3 years (-3.1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CODX's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Co-Diagnostics performed over the past 5 years?

71.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CODX has high quality earnings.

Growing Profit Margin: CODX's current net profit margins (48%) are higher than last year (40.6%).


Past Earnings Growth Analysis

Earnings Trend: CODX has become profitable over the past 5 years, growing earnings by 71.9% per year.

Accelerating Growth: CODX's earnings growth over the past year (342%) exceeds its 5-year average (71.9% per year).

Earnings vs Industry: CODX earnings growth over the past year (342%) exceeded the Medical Equipment industry 40.5%.


Return on Equity

High ROE: CODX's Return on Equity (53%) is considered outstanding.


Financial Health

How is Co-Diagnostics's financial position?


Financial Position Analysis

Short Term Liabilities: CODX's short term assets ($90.3M) exceed its short term liabilities ($4.7M).

Long Term Liabilities: CODX's short term assets ($90.3M) exceed its long term liabilities ($794.6K).


Debt to Equity History and Analysis

Debt Level: CODX is debt free.

Reducing Debt: CODX currently has no debt however we can't compare to 5 years ago as we have no data for that period.

Debt Coverage: CODX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: CODX has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Co-Diagnostics's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CODX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CODX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CODX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CODX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CODX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average board tenure


CEO

Dwight Egan (68 yo)

no data

Tenure

US$1,463,625

Compensation

Mr. Dwight H. Egan serves as the Chairman, Chief Executive Officer and President at Co-Diagnostics, Inc. and has been its Director since April 2013. Mr. Egan has been engaged in private investment business...


CEO Compensation Analysis

Compensation vs Market: Dwight's total compensation ($USD1.46M) is above average for companies of similar size in the US market ($USD1.08M).

Compensation vs Earnings: Dwight's compensation has increased by more than 20% in the past year.


Board Members

Experienced Board: CODX's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CODX insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.9%.


Top Shareholders

Company Information

Co-Diagnostics, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Co-Diagnostics, Inc.
  • Ticker: CODX
  • Exchange: NasdaqCM
  • Founded: 2013
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$281.965m
  • Shares outstanding: 28.89m
  • Website: https://www.codiagnostics.com

Number of Employees


Location

  • Co-Diagnostics, Inc.
  • 2401 South Foothill Drive
  • Suite D
  • Salt Lake City
  • Utah
  • 84109
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/25 22:06
End of Day Share Price2021/09/24 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.