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.

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

1.4%

CODX

2.0%

US Medical Equipment

1.8%

US Market


1 Year Return

-57.6%

CODX

13.3%

US Medical Equipment

7.3%

US Market

Return vs Industry: CODX underperformed the US Medical Equipment industry which returned 13.3% over the past year.

Return vs Market: CODX underperformed the US Market which returned 7.3% over the past year.


Shareholder returns

CODXIndustryMarket
7 Day1.4%2.0%1.8%
30 Day-7.0%-1.8%-0.7%
90 Day-5.4%-0.5%0.06%
1 Year-57.6%-57.6%14.2%13.3%9.7%7.3%
3 Yearn/a70.5%65.3%46.3%36.9%
5 Yearn/a127.0%101.8%64.5%46.5%

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 compared to its fair value and its price relative to the market?

3.78x

Price to Book (PB) ratio


Share Price vs. Fair Value

Undervalued: Insufficient data to calculate CODX's fair value to establish if it is undervalued.

Significantly Undervalued: Insufficient data to calculate CODX's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: CODX is unprofitable, so we can't compare its PE Ratio to the Medical Equipment industry average.

PE vs Market: CODX is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate CODX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CODX is overvalued based on its PB Ratio (3.8x) compared to the US Medical Equipment industry average (3.8x).


Next Steps

Future Growth

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

76.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CODX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.7%).

Earnings vs Market: CODX is forecast to become profitable over the next 3 year, which is considered above average market growth.

High Growth Earnings: CODX's loss is forecast to worsen by 0% next year.

Revenue vs Market: CODX's revenue (50.5% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: CODX's revenue (50.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


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

Earnings Trend: CODX is unprofitable, and losses have increased over the past 5 years at a rate of -34.8% per year.

Accelerating Growth: Unable to compare CODX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CODX is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (28.2%).


Return on Equity

High ROE: CODX has a negative Return on Equity (-131.14%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: CODX is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: CODX is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Co-Diagnostics's financial position?


Financial Position Analysis

Short Term Liabilities: CODX's short term assets ($4.6M) exceeds its short term liabilities ($312.1K)

Long Term Liabilities: CODX's short term assets (4.6M) exceeds its long term liabilities (200.0K)


Debt to Equity History and Analysis

Debt Level: CODX is debt free.

Reducing Debt: CODX had no debt 5 years ago.


Balance Sheet

Inventory Level: CODX has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if CODX's debt is 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.

Stable Cash Runway: CODX has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: CODX has less than a year of cash runway if free cash flow continues to reduce 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 vs Market

companyn/amarketbottom25%1.5%markettop25%3.7%industryaverage1.2%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

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

0.3yrs

Average board tenure


CEO

Dwight Egan (66yo)

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

Compensation vs. Market: Insufficient data to establish whether Dwight's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Dwight's compensation has increased whilst the company is unprofitable.


Board Age and Tenure

0.3yrs

Average Tenure

66yo

Average Age

Experienced Board: CODX's board of directors are not considered experienced ( 0.3 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Dwight Egan (66yo)

    Chairman

    • Tenure: 0yrs
    • Compensation: US$473.50k
  • Reed Benson (71yo)

    CFO, General Counsel & Secretary

    • Tenure: 4.9yrs
    • Compensation: US$365.00k
  • Brent Satterfield (42yo)

    Co-Founder & Chief Science Officer

    • Tenure: 6.5yrs
    • Compensation: US$237.50k
  • Mayuranki Almaula

    Senior Vice President of Overseas Operations & Strategic Alliances

    • Tenure: 0yrs
  • Cameron Gundry

    Head of Commercialization LATAM/EUR

    • Tenure: 0yrs

Board Members

  • Dwight Egan (66yo)

    Chairman

    • Tenure: 0yrs
    • Compensation: US$473.50k
  • Richard Serbin (74yo)

    Director

    • Tenure: 2.4yrs
    • Compensation: US$55.00k
  • Jim Nelson (66yo)

    Director

    • Tenure: 0.2yrs
  • Eugene Durenard (53yo)

    Director

    • Tenure: 0.3yrs
  • Ted Murphy (56yo)

    Director

    • Tenure: 0.3yrs

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$18.146m
  • 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 Analysis2019/10/18 00:55
End of Day Share Price2019/10/17 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.