CorMedix Inc. Common Stock (CRMD)

FairStock Score: 86/100 — HIGH CONVICTION

Key Financials

AI Analysis

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

As a Buffett/Graham-style investor, I start with the business. CorMedix is a small biopharma whose lead product candidate, DefenCath, targets catheter-related bloodstream infections in adult kidney-failure patients. That is a narrow but clinically meaningful niche. The company has just crossed from loss to profit: in fiscal year 2025, the year ended 2025-12-31, revenue was $311.7M and net income $163.1M, or $2.04 per diluted share, versus fiscal year 2024 revenue of $43.5M and a net loss of $17.9M. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $101.9M, net income $26.0M, and diluted EPS $0.29. The prior quarter, fiscal Q1 2026 ended 2026-03-31, had revenue of $127.4M, net income of $38.6M, and diluted EPS $0.43, so the sequential trend deserves watching. Cash generation is impressive: trailing free cash flow was $250.4M, a 43.5% FCF yield, as FairStock calculates. Returns are high, with ROE of 54.93% and ROCE of 24.56%, and debt is modest at D/E 0.32. At the 2026-10-13 close of $7.39, FairStock's P/E is 3.39, P/B 1.25, EV/EBITDA 1.83, and PEG 0.04. The Graham Number is $17.05, implying a 56.66% margin of safety. That is cheap if earnings are durable. Yet the Altman Z-Score of 1.26 and Piotroski F-Score of 5/9 counsel caution, as does single-product concentration. FairStock classifies it as a TURNAROUND, returned to profit after a loss within the last three years. I would want evidence that current profits are repeatable, not a one-off.

In plain English: CorMedix is a small healthcare company whose main product is meant to help prevent dangerous bloodstream infections in kidney-failure patients who use catheters. The business has swung from losses to profits and has grown sales quickly, generating a lot of cash relative to its size. At the latest closing price, the stock looks inexpensive compared with the company's reported profits and net assets, but it depends heavily on one product and its profits have been uneven.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

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