Cadiz Inc.

NasdaqGM:CDZI Stock Report

Market Cap: US$309.1m

Cadiz Management

Management criteria checks 3/4

Cadiz's CEO is Susan Kennedy, appointed in Jan 2024, has a tenure of 2.67 years. total yearly compensation is $1.06M, comprised of 37.8% salary and 62.2% bonuses, including company stock and options. directly owns 1.21% of the company’s shares, worth $3.73M. The average tenure of the management team and the board of directors is 0.7 years and 4.4 years respectively.

Key information

Susan Kennedy

Chief executive officer

US$1.1m

Total compensation

CEO salary percentage37.82%
CEO tenure2.7yrs
CEO ownership1.2%
Management average tenureless than a year
Board average tenure4.4yrs

Recent management updates

Recent updates

Seeking Alpha • Aug 28

Cadiz: There's Potential And Then There's Reality

Summary Cadiz is rated Sell due to high uncertainty in operational execution and rising debt, despite a potentially transformative Mojave project. CDZI’s business model hinges on commercializing California water rights, but current revenues are volatile and heavily reliant on the struggling ATEC segment. The 2028 inflection point depends on the completion of both Northern and Southern pipelines, with projected revenues falling short of consensus unless ATEC improves. Rising debt ($86 million) and unproven operating model present significant risks; I will reconsider CDZI post-2028 with more operational clarity. Read the full article on Seeking Alpha
Analysis Article • Jan 14

Is Cadiz (NASDAQ:CDZI) Using Too Much Debt?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Dec 12

Revenues Tell The Story For Cadiz Inc. (NASDAQ:CDZI) As Its Stock Soars 27%

Cadiz Inc. ( NASDAQ:CDZI ) shares have continued their recent momentum with a 27% gain in the last month alone. The...
Analysis Article • Oct 11

Cadiz Inc.'s (NASDAQ:CDZI) P/S Is Still On The Mark Following 38% Share Price Bounce

Cadiz Inc. ( NASDAQ:CDZI ) shares have continued their recent momentum with a 38% gain in the last month alone. The...
Analysis Article • Oct 08

Is Cadiz (NASDAQ:CDZI) Using Too Much Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
Analysis Article • Aug 27

Revenues Tell The Story For Cadiz Inc. (NASDAQ:CDZI) As Its Stock Soars 25%

Cadiz Inc. ( NASDAQ:CDZI ) shares have continued their recent momentum with a 25% gain in the last month alone. Looking...
Analysis Article • Jun 14

Cadiz Inc.'s (NASDAQ:CDZI) P/S Is On The Mark

When you see that almost half of the companies in the Water Utilities industry in the United States have price-to-sales...
Seeking Alpha • Apr 17

Cadiz: Are The Preferreds Back In Play?

Summary Cadiz is facing intense free cash burn as its plan to extract water from an aquifer in California faces environmental opposition. The Mojave Groundwater Bank project faces an uncertain future, with no clear pathway yet to come online. Common shareholders face continued dilution, while the preferreds offer a 12.8% yield on cost. Read the full article on Seeking Alpha
Analysis Article • Nov 02

Would Cadiz (NASDAQ:CDZI) Be Better Off With Less Debt?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • Jul 14

Is Cadiz (NASDAQ:CDZI) Using Too Much Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
Analysis Article • Jan 19

We Think Cadiz (NASDAQ:CDZI) Has A Fair Chunk Of Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jun 13

Here's Why Cadiz (NASDAQ:CDZI) Can Afford Some Debt

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Nov 08

Does Cadiz (NASDAQ:CDZI) Have A Healthy Balance Sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jul 13

Is Cadiz (NASDAQ:CDZI) Using Too Much Debt?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Mar 28

Cadiz (NASDAQ:CDZI) Is Carrying A Fair Bit Of Debt

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Dec 14

Here's Why Cadiz (NASDAQ:CDZI) Can Afford Some Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Analysis Article • Jun 11

Shareholders Will Probably Hold Off On Increasing Cadiz Inc.'s (NASDAQ:CDZI) CEO Compensation For The Time Being

CEO Scott Slater has done a decent job of delivering relatively good performance at Cadiz Inc. ( NASDAQ:CDZI...
Analysis Article • May 13

When Can We Expect A Profit From Cadiz Inc. (NASDAQ:CDZI)?

Cadiz Inc. ( NASDAQ:CDZI ) is possibly approaching a major achievement in its business, so we would like to shine some...
Analysis Article • Jan 28

Have Insiders Been Selling Cadiz Inc. (NASDAQ:CDZI) Shares This Year?

We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are also...
Analysis Article • Dec 04

Could The Cadiz Inc. (NASDAQ:CDZI) Ownership Structure Tell Us Something Useful?

The big shareholder groups in Cadiz Inc. ( NASDAQ:CDZI ) have power over the company. Insiders often own a large chunk...

CEO Compensation Analysis

How has Susan Kennedy's remuneration changed compared to Cadiz's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2026n/an/a

-US$42m

Mar 31 2026n/an/a

-US$38m

Dec 31 2025US$1mUS$400k

-US$39m

Sep 30 2025n/an/a

-US$38m

Jun 30 2025n/an/a

-US$38m

Mar 31 2025n/an/a

-US$39m

Dec 31 2024US$2mUS$368k

-US$36m

Sep 30 2024n/an/a

-US$34m

Jun 30 2024n/an/a

-US$35m

Mar 31 2024n/an/a

-US$33m

Dec 31 2023US$319kUS$300k

-US$37m

Sep 30 2023n/an/a

-US$37m

Jun 30 2023n/an/a

-US$36m

Mar 31 2023n/an/a

-US$35m

Dec 31 2022US$321kUS$266k

-US$30m

Sep 30 2022n/an/a

-US$29m

Jun 30 2022n/an/a

-US$30m

Mar 31 2022n/an/a

-US$35m

Dec 31 2021US$88kn/a

-US$34m

Compensation vs Market: Susan's total compensation ($USD1.06M) is below average for companies of similar size in the US market ($USD2.41M).

Compensation vs Earnings: Susan's compensation has been consistent with company performance over the past year.

CEO

Susan Kennedy (65 yo)

2.7yrs
Tenure
US$1,057,625
Compensation

Ms. Susan P. Kennedy serves as Advisory Board Member at GrubMarket, Inc. since October 2023. She has been Director at Cadiz Inc. since March 24, 2021 and its Chief Executive Officer Since January 01, 2024...

Leadership Team

NamePositionTenureCompensationOwnership
Susan Kennedy
CEO & Chairman2.7yrsUS$1.06m1.21%
$ 3.7m
Cathryn Rivera
Chief Operating Officer2yrsUS$471.67k0.10%
$ 319.9k
Stanley Speer
Advisorno dataUS$1.24m0.14%
$ 427.7k
Jacinto Hernandez
Chief Financial Officerno datano datano data
Courtney Degener
SVP of External Affairs & Investor Relationsno datano datano data
Scott Slater
Senior Advisor2.7yrsUS$385.50kno data
Steve Green
Chief Commercial Officer of ATEC Water Systemsless than a yearno datano data
Lee Odell
COO of ATEC Water Systemsless than a yearno datano data
Scott Slatera
CEO & President ATEC Water Systemsless than a yearno datano data
0.7yrs
Average Tenure
65yo
Average Age

Experienced Management: CDZI's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Susan Kennedy
CEO & Chairman5.5yrsUS$1.06m1.21%
$ 3.7m
Stephen Courter
Independent Director17.9yrsUS$100.00k0.096%
$ 297.8k
Winston Hickox
Lead Independent Director19.9yrsUS$100.00k0.32%
$ 985.3k
Kenneth Lombard
Independent Director4.4yrsUS$100.00k0.037%
$ 113.1k
Richard Polanco
Independent Director4.2yrsUS$100.00k0.033%
$ 102.8k
Barbara Lloyd
Independent Director2.6yrsUS$100.00k0.035%
$ 107.6k
Maria Jelescu-Dreyfus
Independent Director3.3yrsUS$100.00k0.23%
$ 717.5k
Maria Echaveste
Independent Director7.2yrsUS$100.00k0.054%
$ 166.9k
Dave O'Hara
Independent Directorless than a yearno data0.15%
$ 457.5k
4.4yrs
Average Tenure
71yo
Average Age

Experienced Board: CDZI's board of directors are considered experienced (4.4 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/13 15:38
End of Day Share Price 2026/09/11 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

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.

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 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 Github.

Analyst Sources

Cadiz Inc. is covered by 3 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael CrawfordB. Riley Securities, Inc.
Tate SullivanMaxim Group
Gerard SweeneyRoth Capital Partners