CADIZ Inc. Common Stock (CDZI)

FairStock Score: 16/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett/Graham-style investor, I look first for durable earning power and a margin of safety. Cadiz does not show either. It is a 31-employee water solutions company with two segments, but in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was just $979,000 and net income was -$11.4 million. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $1.6 million and net loss was $8.6 million. For full fiscal 2025, revenue was $16.3 million against a net loss of $34.2 million; fiscal 2024 revenue was $9.6 million with a $31.1 million loss; fiscal 2023 revenue was $2.0 million with a $31.4 million loss. That is four years of losses, which is why FairStock assigns no Peter Lynch category. The business may own water rights and land with option value, but there is no demonstrated moat in the financials: trailing free cash flow is -$31.2 million, a -10.8% FCF yield, and FairStock's calculated ROE is -183.13%, ROCE -12.89%, Piotroski F-score 1/9, and Altman Z-score -6.27. At the 2026-10-13 close of $3.40, market cap is $287.9 million. FairStock's P/E is -6.80 and P/B is 56.67, so the price is high relative to book and impossible to justify on current earnings. Revenue growth is -44.75% on FairStock's calculation, though the longer filed record shows lumpy project revenue. A beta of 1.91 adds volatility. Without contracted cash flows or profits, this remains a speculative asset story, not a Graham-style bargain.

In plain English: Cadiz is a small water-solutions company that owns land and water resources and sells filtration technology. It has lost money for years, its latest reported quarter had very little revenue and a large loss, and it burns more cash than it brings in. At $3.40 a share, the stock looks expensive compared with its book value and current earnings.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer