Cadiz (CDZI) AI Stock Analysis

• Market Cap: $240.72M
• Dividend Yield: N/A
• Average Volume (3M): 496.85K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.29
• Revenue Growth: 283.67%
• EPS Growth: -11.36%
• Country: US
• Employees: 25
• Sector: Utilities
• Sector Strength: 71
• Industry: Regulated Water
• EPS (TTM): -0.53
• Shares Outstanding: 81,876,370
• 10 Day Avg. Volume: 292,498
• 30 Day Avg. Volume: 496,854
• PEG Ratio: 0.86
• Price to Book (P/B): 5.17
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -9.74
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 8.38
• Enterprise Value/Gross Profit: 79.99
• Enterprise Value/Ebitda: -2.78
• 1Y Price Target: $10.00
• Price Target Upside: 237.84% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 46 Neutral
• Price Target: $3.00 ▲(1.35%Upside)

The most significant factor impacting Cadiz's stock score is its financial performance, characterized by strong revenue growth but significant profitability and cash flow challenges. Technical analysis shows neutral indicators, contributing moderately to the score. Valuation concerns due to negative earnings and no dividend yield further weigh down the overall score. The positive corporate event is excluded from the weighted calculation but remains a potential future benefit.

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 demonstrates strong revenue growth, but profitability and cash flow issues persist. High leverage and negative free cash flow highlight potential financial instability. While there are some positive trends in equity, the company needs to address operational inefficiencies and improve cash generation to enhance financial health.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	9.61M	1.99M	1.50M	564.00K	541.00K
Gross Profit	2.31M	-896.00K	-566.00K	126.00K	541.00K
EBITDA	-21.44M	-24.49M	-15.89M	-17.90M	-23.59M
Net Income	-31.14M	-31.45M	-24.83M	-30.31M	-35.65M
Balance Sheet
Total Assets	134.49M	107.37M	110.79M	112.49M	74.36M
Cash, Cash Equivalents and Short-Term Investments	17.29M	4.50M	10.00M	10.96M	7.29M
Total Debt	85.89M	61.22M	70.39M	68.72M	95.83M
Total Liabilities	100.53M	67.41M	76.56M	71.88M	99.66M
Stockholders Equity	33.96M	39.97M	34.22M	40.61M	-25.30M
Cash Flow
Free Cash Flow	-22.47M	-26.71M	-21.98M	-38.18M	-19.16M
Operating Cash Flow	-21.53M	-20.92M	-18.60M	-15.27M	-13.43M
Investing Cash Flow	-1.18M	-5.79M	-4.12M	-23.47M	-9.84M
Financing Cash Flow	35.51M	17.57M	16.65M	51.18M	14.87M

Cadiz Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.96
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDZI, the sentiment is Negative. The current price of 2.96 is below the 20-day moving average (MA) of 3.04, below the 50-day MA of 2.99, and below the 200-day MA of 3.57, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 47.58 is Neutral, neither overbought nor oversold. The STOCH value of 14.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CDZI.

Cadiz Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARTNA	73 Outperform	$344.67M	16.06	9.04%	3.68%	8.31%	21.97%
CWCO	69 Neutral	$474.48M	17.96	7.83%	1.90%	-31.57%	-18.12%
PCYO	68 Neutral	$241.95M	18.11	10.47%	―	40.29%	124.50%
GWRS	63 Neutral	$283.29M	43.50	9.11%	2.94%	3.94%	-8.78%
Sector *	61 Neutral	C$5.02B	-18.31	-18.56%	4.32%	11.65%	-69.08%
YORW	58 Neutral	$447.85M	22.84	8.63%	2.82%	3.45%	-19.90%
CDZI	46 Neutral	$240.72M	―	-84.03%	―	283.67%	-11.36%

Cadiz Corporate Events

Cadiz Partners with Hoku Energy for Clean Energy Project

On June 17, 2025, Cadiz Inc. entered into a Memorandum of Understanding with Hoku Energy Limited to develop a clean energy and digital infrastructure project on its Mojave Desert property. This initiative includes green hydrogen production and renewable energy facilities, potentially generating $7-$10 million annually in lease revenue and water sales. The agreement grants Hoku Energy a three-year exclusive option to develop over 10,000 acres, aiming to establish Cadiz Ranch as a major clean energy campus and green hydrogen hub in North America.

The most recent analyst rating on (CDZI) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Cadiz stock, see the CDZI Stock Forecast page.

Cadiz Holds Annual Meeting, Elects New Directors

On June 12, 2025, Cadiz held its Annual Meeting of Stockholders, where key decisions were made regarding company leadership and strategic plans. The election of directors saw Stephen E. Courter, Maria Dreyfus, Maria Echaveste, Winston Hickox, Susan Kennedy, Barbara A. Lloyd, Kenneth T. Lombard, and Richard Polanco being elected. Additionally, an amendment to the 2019 Equity Incentive Plan was approved, increasing the number of shares reserved for issuance. PricewaterhouseCoopers LLP was confirmed as the independent auditor for 2025, and the compensation of named executive officers was approved on an advisory basis.

The most recent analyst rating on (CDZI) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Cadiz stock, see the CDZI Stock Forecast page.