Cadiz (CDZI) AI Stock Analysis

• Market Cap: $505.31M
• Dividend Yield: N/A
• Average Volume (3M): 1.19M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.06
• Revenue Growth: 188.33%
• EPS Growth: 4.12%
• Country: US
• Employees: 25
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Water
• EPS (TTM): -0.53
• Shares Outstanding: 83,110,080
• 10 Day Avg. Volume: 1,710,694
• 30 Day Avg. Volume: 1,188,570
• PEG Ratio: 2.15
• Price to Book (P/B): 10.54
• Price to Sales (P/S): 37.26
• P/FCF Ratio: -15.94
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.37
• Revenue Forecast (FY): $14.70M

• Rating: 55 Neutral
• Price Target: $3.00 ▼(-47.18% Downside)

Cadiz's overall score is driven by strong revenue growth and a promising corporate event involving clean energy projects. However, financial instability due to negative profitability and cash flow, coupled with valuation concerns, weigh down the score. Technical analysis shows moderate bullish momentum, offering some optimism.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful market penetration and demand for Cadiz's water resources, supporting long-term business sustainability.

Strategic Partnerships

The partnership with EPCOR enhances Cadiz's market reach and operational capabilities, potentially increasing water sales and reinforcing its market position.

Clean Energy Initiative

The clean energy project positions Cadiz as a leader in green hydrogen production, diversifying revenue streams and aligning with sustainable industry trends.

Negative Factors

Profitability Challenges

Ongoing profitability issues highlight operational inefficiencies, which could hinder long-term financial health and investor confidence.

High Leverage

High leverage indicates reliance on debt financing, which can strain financial flexibility and increase risk during economic downturns.

Negative Cash Flow

Negative cash flow suggests liquidity challenges, potentially limiting Cadiz's ability to fund operations and growth initiatives without external financing.

Cadiz Business Overview & Revenue Model

Company Description

Cadiz Inc., together with its subsidiaries, operates as a natural resources development company in the United States. It engages in the water resource and agricultural development activities in San Bernardino County properties. The company owns approximately 35,000 acres of land in the Cadiz and Fenner valleys of eastern San Bernardino County; and approximately 11,000 acres of land in the eastern Mojave Desert portion of San Bernardino County. It is also involved in the cultivation of lemons, and spring and fall plantings of vegetables and grains. Cadiz Inc. was founded in 1983 and is headquartered in Los Angeles, California.

How the Company Makes Money

Cadiz Inc. primarily makes money through its water resource management and conservation project. The company's revenue model focuses on the sale of conserved water to various water agencies and utilities in Southern California. By developing infrastructure to capture and store water, Cadiz is able to supply this critical resource to a region that often faces water scarcity. Additionally, the company may generate revenue through leasing its land holdings for agricultural purposes and pursuing renewable energy projects. Cadiz's earnings are influenced by its ability to secure water sale agreements, regulatory approvals, and its management of operational costs.

Cadiz Financial Statement Overview

Summary

Cadiz shows strong revenue growth but suffers from profitability and cash flow issues. High leverage and negative free cash flow present financial instability risks. Despite some positive trends in equity, operational inefficiencies and cash generation need improvement.

Income Statement

Cadiz has shown significant revenue growth, increasing from $564,000 in 2021 to $11,441,000 in 2025 TTM. However, profitability remains a challenge with persistent net losses, reflected in negative EBIT and EBITDA margins. The gross profit margin improved slightly, but the company's net profit margin is still negative due to high operating expenses.

Balance Sheet

The company's balance sheet reflects high leverage, with a debt-to-equity ratio over 1.0, indicating reliance on debt financing. However, stockholders' equity has improved, showing a positive trend from negative equity in 2020. Despite improvements, the equity ratio remains low, suggesting potential risk from high liabilities.

Cash Flow

Operating cash flow is consistently negative, though financing activities have injected cash into the business. Free cash flow has improved but remains negative, which is concerning for long-term sustainability. The company's reliance on external financing indicates potential liquidity challenges in the future.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	15.98M	9.61M	1.99M	1.50M	564.00K	541.00K
Gross Profit	5.19M	2.31M	-896.00K	-566.00K	564.00K	541.00K
EBITDA	-22.80M	-21.44M	-24.49M	-15.89M	-20.26M	-23.59M
Net Income	-33.01M	-31.14M	-31.45M	-24.79M	-31.25M	-37.82M
Balance Sheet
Total Assets	128.01M	134.49M	107.37M	110.79M	112.49M	74.36M
Cash, Cash Equivalents and Short-Term Investments	4.43M	17.29M	4.50M	10.00M	10.96M	7.29M
Total Debt	30.88M	85.89M	61.22M	70.39M	68.72M	95.84M
Total Liabilities	100.27M	100.53M	67.41M	76.56M	71.88M	99.66M
Stockholders Equity	27.73M	33.96M	39.97M	34.22M	40.61M	-25.30M
Cash Flow
Free Cash Flow	-24.88M	-22.47M	-26.71M	-21.98M	-38.18M	-19.16M
Operating Cash Flow	-18.22M	-21.53M	-20.92M	-18.60M	-15.27M	-13.43M
Investing Cash Flow	-11.91M	-1.18M	-5.79M	-4.12M	-23.47M	-9.84M
Financing Cash Flow	33.86M	35.51M	17.57M	16.65M	51.18M	14.87M

Cadiz Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.68
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDZI, the sentiment is Positive. The current price of 5.68 is above the 20-day moving average (MA) of 5.64, above the 50-day MA of 5.50, and above the 200-day MA of 3.98, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 60.47 is Neutral, neither overbought nor oversold. The STOCH value of 63.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CDZI.

Cadiz Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PCYO	72 Outperform	$277.04M	20.15	9.62%	―	-9.25%	12.89%
ARTNA	70 Outperform	$335.15M	14.79	9.25%	3.87%	5.80%	12.33%
YORW	69 Neutral	$473.46M	23.70	8.58%	2.68%	3.63%	-5.82%
CWCO	68 Neutral	$582.93M	35.21	8.10%	1.40%	-17.62%	-54.25%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
GWRS	58 Neutral	$247.83M	53.88	6.30%	3.56%	7.06%	-38.94%
CDZI	55 Neutral	$505.31M	-13.49	-136.36%	―	188.33%	4.12%

Cadiz Corporate Events

Cadiz Secures $51M Investment for Mojave Project

On October 27, 2025, Cadiz Inc. entered into a definitive agreement with the Lytton Rancheria of California for a $51 million investment in the Mojave Groundwater Bank project, marking the first tranche of up to $450 million in total equity capital. This agreement, following a 2024 Letter of Intent, allows Cadiz to draw unsecured loan proceeds to fund the project, with Lytton’s investment convertible into membership interests in the Mojave Water Infrastructure Company. This partnership signifies a historic milestone for Cadiz, establishing a new business model for infrastructure development and involving tribal leadership in water management across California and the West.

The most recent analyst rating on (CDZI) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Cadiz stock, see the CDZI Stock Forecast page.