Loading...

We've got a brand new version of Simply Wall St! Try it out

Co-Diagnostics

Nasdaq:CODX
Snowflake Description

High growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CODX
Nasdaq
$19M
Market Cap
  1. Home
  2. US
  3. Healthcare
Company description

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. The last earnings update was 4 days ago. More info.


Add to Portfolio Compare Print
  • Co-Diagnostics has significant price volatility in the past 3 months.
CODX Share Price and Events
7 Day Returns
-14.1%
NasdaqCM:CODX
-0.6%
US Medical Equipment
-1%
US Market
1 Year Returns
-66.4%
NasdaqCM:CODX
14.5%
US Medical Equipment
-0.4%
US Market
CODX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Co-Diagnostics (CODX) -14.1% -1.8% 26.6% -66.4% - -
US Medical Equipment -0.6% 0.4% 10.1% 14.5% 61.8% 104.8%
US Market -1% -3.3% 0.4% -0.4% 30.4% 37.1%
1 Year Return vs Industry and 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 -0.4% over the past year.
Price Volatility
CODX
Industry
5yr Volatility vs Market

Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Co-Diagnostics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Co-Diagnostics.

NasdaqCM:CODX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:CODX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Medical Equipment Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.863 (1 + (1- 21%) (0%))
0.908
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.908 * 5.96%)
8.14%

Discounted Cash Flow Calculation for NasdaqCM:CODX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Co-Diagnostics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqCM:CODX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.14%)
2020 -2.98 Analyst x1 -2.76
2021 -0.77 Analyst x1 -0.66
2022 3.79 Analyst x1 3.00
2023 10.69 Analyst x1 7.82
2024 17.91 Est @ 67.52% 12.11
2025 26.52 Est @ 48.09% 16.58
2026 35.67 Est @ 34.48% 20.62
2027 44.57 Est @ 24.95% 23.82
2028 52.72 Est @ 18.29% 26.06
2029 59.90 Est @ 13.62% 27.38
Present value of next 10 years cash flows $133.97
NasdaqCM:CODX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $59.90 × (1 + 2.73%) ÷ (8.14% – 2.73%)
$1,136.64
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,136.64 ÷ (1 + 8.14%)10
$519.54
NasdaqCM:CODX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $133.97 + $519.54
$653.50
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $653.50 / 17.12
$38.17
NasdaqCM:CODX Discount to Share Price
Calculation Result
Value per share (USD) From above. $38.17
Current discount Discount to share price of $1.10
= -1 x ($1.10 - $38.17) / $38.17
97.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Co-Diagnostics is available for.
Intrinsic value
>50%
Share price is $1.1 vs Future cash flow value of $38.17
Current Discount Checks
For Co-Diagnostics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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 RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Co-Diagnostics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Co-Diagnostics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:CODX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $-0.43
NasdaqCM:CODX Share Price ** NasdaqCM (2019-08-16) in USD $1.1
United States of America Medical Equipment Industry PE Ratio Median Figure of 64 Publicly-Listed Medical Equipment Companies 40.88x
United States of America Market PE Ratio Median Figure of 3,095 Publicly-Listed Companies 17.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Co-Diagnostics.

NasdaqCM:CODX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:CODX Share Price ÷ EPS (both in USD)

= 1.1 ÷ -0.43

-2.55x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 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
Does Co-Diagnostics's expected growth come at a high price?
Raw Data
NasdaqCM:CODX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.55x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
75.9%per year
United States of America Medical Equipment Industry PEG Ratio Median Figure of 55 Publicly-Listed Medical Equipment Companies 2.32x
United States of America Market PEG Ratio Median Figure of 2,124 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Co-Diagnostics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Co-Diagnostics's assets?
Raw Data
NasdaqCM:CODX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $0.28
NasdaqCM:CODX Share Price * NasdaqCM (2019-08-16) in USD $1.1
United States of America Medical Equipment Industry PB Ratio Median Figure of 186 Publicly-Listed Medical Equipment Companies 3.99x
United States of America Market PB Ratio Median Figure of 5,265 Publicly-Listed Companies 1.7x
NasdaqCM:CODX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:CODX Share Price ÷ Book Value per Share (both in USD)

= 1.1 ÷ 0.28

3.92x

* Primary Listing of Co-Diagnostics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Co-Diagnostics is good value based on assets compared to the US Medical Equipment industry average.
X
Value checks
We assess Co-Diagnostics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Medical Equipment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Medical Equipment industry average (and greater than 0)? (1 check)
  5. Co-Diagnostics has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
75.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Co-Diagnostics expected to grow at an attractive rate?
  • Co-Diagnostics's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Co-Diagnostics's earnings growth is expected to exceed the United States of America market average.
  • Co-Diagnostics's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:CODX Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:CODX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 75.9%
NasdaqCM:CODX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 49.9%
United States of America Medical Equipment Industry Earnings Growth Rate Market Cap Weighted Average 22.5%
United States of America Medical Equipment Industry Revenue Growth Rate Market Cap Weighted Average 7.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:CODX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:CODX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 20 11 1
2022-12-31 13 4 1
2021-12-31 8 0 1
2020-12-31 8 -1 2
2019-12-31 1 2 -5 1
NasdaqCM:CODX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 0 -5 -6
2019-03-31 0 -4 -6
2018-12-31 0 -4 -6
2018-09-30 0 -4 -6
2018-06-30 0 -4 -8
2018-03-31 0 -4 -8
2017-12-31 0 -3 -7
2017-09-30 0 -3 -6
2017-06-30 0 -2 -3
2017-03-31 -1 -2
2016-12-31 -1 -2
2016-09-30 0 -1 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Co-Diagnostics's earnings are expected to grow significantly at over 20% yearly.
  • Co-Diagnostics's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:CODX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Co-Diagnostics Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:CODX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.52 0.52 0.52 1.00
2022-12-31 0.19 0.19 0.19 1.00
2021-12-31 -0.02 -0.02 -0.02 1.00
2020-12-31 -0.04 0.05 -0.13 2.00
2019-12-31 -0.29 -0.29 -0.29 1.00
NasdaqCM:CODX Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 -0.43
2019-03-31 -0.47
2018-12-31 -0.50
2018-09-30 -0.47
2018-06-30 -0.66
2018-03-31 -0.65
2017-12-31 -0.63
2017-09-30 -0.58
2017-06-30 -0.26
2017-03-31 -0.21
2016-12-31 -0.20
2016-09-30 -0.19

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Co-Diagnostics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Co-Diagnostics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Co-Diagnostics has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Co-Diagnostics's growth in the last year to its industry (Medical Equipment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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.
Earnings and Revenue History
Co-Diagnostics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Co-Diagnostics Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:CODX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 0.09 -6.30 4.72 1.37
2019-03-31 0.03 -6.33 4.66 1.41
2018-12-31 0.04 -6.27 4.74 1.36
2018-09-30 0.03 -5.83 4.50 1.27
2018-06-30 0.02 -8.08 4.70 1.21
2018-03-31 0.02 -7.56 4.21 1.04
2017-12-31 0.01 -6.96 3.52 1.00
2017-09-30 0.01 -5.98 2.57 0.91
2017-06-30 0.00 -2.54 1.25 0.81
2017-03-31 -2.12 0.96 0.80
2016-12-31 -1.93 0.92 0.73
2016-09-30 0.01 -1.89 0.93 0.73
2015-12-31 0.01 -2.04 1.13 0.81
2014-12-31 -1.05 0.71 0.31

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • 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.
  • 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.
  • 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.
X
Past performance checks
We assess Co-Diagnostics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Medical Equipment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Co-Diagnostics has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Co-Diagnostics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Co-Diagnostics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • 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.
Balance sheet
This treemap shows a more detailed breakdown of Co-Diagnostics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Co-Diagnostics has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Co-Diagnostics Company Filings, last reported 1 month ago.

NasdaqCM:CODX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 4.81 0.00 3.86
2019-03-31 5.56 0.00 5.41
2018-12-31 -1.06 1.91 0.95
2018-09-30 0.13 1.87 2.18
2018-06-30 1.24 0.00 1.53
2018-03-31 2.57 0.00 2.54
2017-12-31 3.85 0.00 3.53
2017-09-30 5.19 0.00 4.63
2017-06-30 -4.40 3.44 0.12
2017-03-31 -3.69 3.39 0.50
2016-12-31 -2.99 3.39 1.00
2016-09-30 -2.49 1.81 0.05
2015-12-31 -1.15 1.01 0.03
2014-12-31 0.14 0.00 0.21
  • 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.
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.
X
Financial health checks
We assess Co-Diagnostics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Co-Diagnostics has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Co-Diagnostics dividends.
If you bought $2,000 of Co-Diagnostics shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • 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.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:CODX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Medical Equipment Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 1.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:CODX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 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
What portion of Co-Diagnostics's earnings are paid to the shareholders as a dividend.
  • 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.
X
Income/ dividend checks
We assess Co-Diagnostics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Co-Diagnostics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Co-Diagnostics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dwight Egan
COMPENSATION $473,500
AGE 66
CEO Bio

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 and Chairman of the Board of BI. He served as Executive Vice President of Marketing at Data Broadcasting Corporation since June 1998. Mr. Egan co-founded Broadcast International, Inc. ('BII'), a former subsidiary of Data Broadcasting Corporation which was acquired by DBC in 1995. He founded Market Street Logix in 2008 and has been active in incubating Co-Diagnostics Inc., a molecular diagnostics company. He also serves on the board of Gentner Communications, Inc., a provider of audio communication equipment and services. Since January 2000 Mr. Egan has been a private investor.

CEO Compensation
  • Dwight's compensation has increased whilst company is loss making.
  • Dwight's remuneration is about average for companies of similar size in United States of America.
Management Team

Dwight Egan

TITLE
Chairman
COMPENSATION
$474K
AGE
66

Brent Satterfield

TITLE
Co-Founder & Chief Science Officer
COMPENSATION
$238K
AGE
42
TENURE
6.3 yrs

Reed Benson

TITLE
CFO, General Counsel & Secretary
COMPENSATION
$365K
AGE
71
TENURE
4.8 yrs

Mayuranki Almaula

TITLE
Senior Vice President of Overseas Operations & Strategic Alliances

Cameron Gundry

TITLE
Head of Commercialization LATAM/EUR
Board of Directors Tenure

Average tenure and age of the Co-Diagnostics board of directors in years:

0.2
Average Tenure
61
Average Age
  • The average tenure for the Co-Diagnostics board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dwight Egan

TITLE
Chairman
COMPENSATION
$474K
AGE
66

Eugene Durenard

TITLE
Director
AGE
53
TENURE
0.2 yrs

Ted Murphy

TITLE
Director
AGE
56
TENURE
0.2 yrs

Richard Serbin

TITLE
Director
COMPENSATION
$55K
AGE
74
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Co-Diagnostics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Co-Diagnostics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Co-Diagnostics, Inc. (NASDAQ:CODX) Can Impact Your Portfolio Volatility

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one. … This is above 1, so historically its share price has been influenced by the broader volatility of the stock market.

Simply Wall St -

Could Co-Diagnostics, Inc.'s (NASDAQ:CODX) Investor Composition Influence The Stock Price?

As Charlie Munger said 'Show me the incentive and I will show you the outcome.' Co-Diagnostics is a smaller company with a market capitalization of US$16m, so it may still be flying under the radar of many institutional investors. … Taking a look at our data on the ownership groups (below), it's seems that institutional investors have bought into the company. … Check out our latest analysis for Co-Diagnostics NasdaqCM:CODX Ownership Summary, July 15th 2019 What Does The Institutional Ownership Tell Us About Co-Diagnostics?

Simply Wall St -

Why Co-Diagnostics, Inc. (NASDAQ:CODX) Could Have A Place In Your Portfolio

CODX is a company with impressive financial health as well as a buoyant growth outlook. … Flawless balance sheet with high growth potential CODX is an attractive stock for growth-seeking investors, with an expected earnings growth of 72% in the upcoming year. … Therefore the company has plenty of headroom to grow, and the ability to raise debt should it need to in the future.

Simply Wall St -

When Will Co-Diagnostics, Inc. (NASDAQ:CODX) Breakeven?

Many investors are wondering the rate at which CODX will turn a profit, with the big question being “when will the company breakeven?” I’ve put together a brief outline of industry analyst expectations for CODX, its year of breakeven and its implied growth rate. … NasdaqCM:CODX Past and Future Earnings, May 20th 2019 Underlying developments driving CODX’s growth isn’t the focus of this broad overview, however, take into account that typically a high growth rate is not out of the ordinary, particularly when a company is in a period of investment. … CODX currently has no debt on its balance sheet, which is rare for a loss-making loss-making, growth company, which typically has high debt relative to its equity.

Simply Wall St -

Do Insiders Own Lots Of Shares In Co-Diagnostics Inc (NASDAQ:CODX)?

The big shareholder groups in Co-Diagnostics Inc (NASDAQ:CODX) have power over the company. … Co-Diagnostics is not a large company by global standards. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Should You Be Concerned About Co-Diagnostics Inc's (NASDAQ:CODX) Shareholders?

In this article, I'm going to take a look at Co-Diagnostics Inc’s (NASDAQ:CODX) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … Therefore, it is beneficial for us to examine CODX's ownership structure in more detail.

Simply Wall St -

Who Are The Largest Shareholders In Co-Diagnostics Inc (NASDAQ:CODX)?

See our latest analysis for Co-Diagnostics NasdaqCM:CODX Ownership_summary Apr 27th 18 Institutional Ownership Institutional investors transact in large blocks which can influence the momentum of stock prices, at least in the short-term, especially when there is a low level of public shares available on the market to trade. … This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … As a result, potential investors should further explore the company's business relations with these companies and find out if they can affect shareholder returns in the long-term.Next Steps: Institutional ownership level and composition in CODX is not high nor active enough to significantly impact its investment thesis.

Simply Wall St -

Should You Worry About Co-Diagnostics Inc's (NASDAQ:CODX) CEO Pay Check?

Profitability of a company is a strong indication of CODX's ability to generate returns on shareholders' funds through corporate activities. … Over the last year CODX released negative earnings of -US$6.96M , which is a further decline from prior year's loss of -US$1.93M. … Typically I would use earnings and market cap to account for variations in performance, however, CODX's negative earnings reduces the effectiveness of this method.

Simply Wall St -

Before You Invest In Co-Diagnostics Inc (NASDAQ:CODX), Consider This

NasdaqCM:CODX Income Statement Apr 4th 18 When will Co-Diagnostics need to raise more cash? … This means that, if Co-Diagnostics continues to grow its opex at this rate, given how much money it currently has in the bank, it will actually need to raise capital again in within the next 10 months! … Now you know that if the company was to continue to grow its opex at a double-digit rate, it will not be able to sustain its operations given the current level of cash reserves.

Simply Wall St -

What Does Co-Diagnostics Inc's (NASDAQ:CODX) Ownership Structure Look Like?

Today, I will be analyzing Co-Diagnostics Inc’s (NASDAQ:CODX) recent ownership structure, an important but not-so-popular subject among individual investors. … Private Company Ownership Potential investors in CODX should also look at another important group of investors: private companies, with a stake of 17.95%, who are primarily invested because of strategic and capital gain interests. … Thus, investors should dig deeper into CODX's business relations with these companies and how it can affect shareholder returns in the long-term.What this means for you: With a low level of institutional ownership, investors in CODX need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

Simply Wall St -

Company Info

Description

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 intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. The company was founded in 2013 and is headquartered in Salt Lake City, Utah.

Details
Name: Co-Diagnostics, Inc.
CODX
Exchange: NasdaqCM
Founded: 2013
$18,830,642
17,118,766
Website: http://www.codiagnostics.com
Address: Co-Diagnostics, Inc.
2401 South Foothill Drive,
Suite D,
Salt Lake City,
Utah, 84109,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM CODX Common Stock Nasdaq Capital Market US USD 12. Jul 2017
DB C97 Common Stock Deutsche Boerse AG DE EUR 12. Jul 2017
MUN C97 Common Stock Boerse Muenchen DE EUR 12. Jul 2017
Number of employees
Current staff
Staff numbers
22
Co-Diagnostics employees.
Industry
Health Care Equipment
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/18 01:27
End of day share price update: 2019/08/16 00:00
Last estimates confirmation: 2019/08/16
Last earnings filing: 2019/08/14
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.