NasdaqCM:CODX

Stock Analysis Report

Executive Summary

Co-Diagnostics, Inc., a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules.

Snowflake

Fundamentals

High growth potential with adequate balance sheet.

Risks

  • Co-Diagnostics has significant price volatility in the past 3 months.
  • Co-Diagnostics is covered by less than 3 analysts.

Share Price & News

How has Co-Diagnostics's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-8.1%

NasdaqCM:CODX

1.2%

US Medical Equipment

0.9%

US Market


1 Year Return

-63.8%

NasdaqCM:CODX

14.7%

US Medical Equipment

0.3%

US Market

CODX underperformed the Medical Equipment industry which returned 14.5% over the past year.

CODX underperformed the Market in United States of America which returned -0.5% over the past year.


Share holder returns

CODXIndustryMarket
7 Day-8.1%1.2%0.9%
30 Day3.4%0.9%-1.9%
90 Day16.9%10.9%1.6%
1 Year-63.8%-63.8%15.6%14.7%2.6%0.3%
3 Yearn/a68.0%62.8%41.0%31.8%
5 Yearn/a132.7%105.9%55.2%38.0%

Price Volatility Vs. Market

How volatile is Co-Diagnostics's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Co-Diagnostics undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Co-Diagnostics's share price is below the future cash flow value, and at a moderate discount (> 20%).

Co-Diagnostics's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Co-Diagnostics is loss making, we can't compare its value to the US Medical Equipment industry average.

Co-Diagnostics is loss making, we can't compare the value of its earnings to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Co-Diagnostics, we can't assess if its growth is good value.


Price Based on Value of Assets

Co-Diagnostics is overvalued based on assets compared to the US Medical Equipment industry average.


Next Steps

Future Growth

How is Co-Diagnostics expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

75.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Co-Diagnostics's revenue is expected to grow significantly at over 20% yearly.

Co-Diagnostics's earnings are expected to grow significantly at over 20% yearly.

Co-Diagnostics's revenue growth is expected to exceed the United States of America market average.

Co-Diagnostics's earnings growth is expected to exceed the United States of America market average.

Co-Diagnostics's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Co-Diagnostics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

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

-34.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Co-Diagnostics does not make a profit and their year on year earnings growth rate was negative over the past 5 years.

Unable to compare Co-Diagnostics's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Co-Diagnostics's 1-year growth to the US Medical Equipment industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Co-Diagnostics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

It is difficult to establish if Co-Diagnostics has efficiently used its assets last year compared to the US Medical Equipment industry average (Return on Assets) as it is loss-making.


Return on Capital Employed

It is difficult to establish if Co-Diagnostics improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Co-Diagnostics's financial position?


Financial Position Analysis

Co-Diagnostics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Co-Diagnostics's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Co-Diagnostics has no debt.

Co-Diagnostics currently has no debt however we can't compare to 5 years ago as we have no data for that period.


Balance Sheet

Low level of unsold assets.

Co-Diagnostics has no debt, it does not need to be covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Co-Diagnostics has less than a year of cash runway based on current free cash flow.

Co-Diagnostics has less than a year of cash runway if free cash flow continues to grow at historical rates of 47.6% each year.


Next Steps

Dividend

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


Dividend Yield and Payments Analysis

Unable to evaluate Co-Diagnostics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Co-Diagnostics's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Co-Diagnostics has not reported any payouts.

Unable to verify if Co-Diagnostics's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Co-Diagnostics has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Co-Diagnostics's salary, the management and board of directors tenure and is there insider trading?

0.2yrs

Average board tenure


CEO

Dwight Egan (66yo)

0.0yrs

Tenure

US$473,500

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 serves as President, Chief Executive Officer an ...


CEO Compensation Analysis

Dwight's remuneration is about average for companies of similar size in United States of America.

Dwight's compensation has increased whilst company is loss making.


Board Age and Tenure

0.2yrs

Average Tenure

61yo

Average Age

The average tenure for the Co-Diagnostics board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Dwight Egan (66yo)

    Chairman

    • Tenure: 0.0yrs
    • Compensation: US$473.50k
  • Reed Benson (71yo)

    CFO, General Counsel & Secretary

    • Tenure: 4.8yrs
    • Compensation: US$365.00k
  • Brent Satterfield (42yo)

    Co-Founder & Chief Science Officer

    • Tenure: 6.3yrs
    • Compensation: US$237.50k
  • Mayuranki Almaula

    Senior Vice President of Overseas Operations & Strategic Alliances

    • Tenure: 0.0yrs
  • Cameron Gundry

    Head of Commercialization LATAM/EUR

    • Tenure: 0.0yrs

Board Members

  • Dwight Egan (66yo)

    Chairman

    • Tenure: 0.0yrs
    • Compensation: US$473.50k
  • Richard Serbin (74yo)

    Director

    • Tenure: 2.3yrs
    • Compensation: US$55.00k
  • Eugene Durenard (53yo)

    Director

    • Tenure: 0.2yrs
  • Ted Murphy (56yo)

    Director

    • Tenure: 0.2yrs

Company Information

Co-Diagnostics, Inc.'s company bio, 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$19.820m
  • Shares outstanding: 17.12m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CODXNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDJul 2017
C97MUN (Boerse Muenchen)YesCommon StockDEEURJul 2017
C97DB (Deutsche Boerse AG)YesCommon StockDEEURJul 2017

Biography

Co-Diagnostics, Inc., a molecular diagnostics company, intends to manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules. It also  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/20 00:40
End of Day Share Price2019/08/19 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.