Fact based stock research
Codexis (NasdaqGS:CDXS)
US1920051067
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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".
Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".
Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.
Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.
(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).
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Codexis stock research in summary
ANALYSIS: With an Obermatt Combined Rank of 74 (better than 74% compared with investment alternatives), Codexis (Life Sciences Tools & Services, USA) shares have above-average financial characteristics compared with similar stocks. Shares of Codexis are a good value (attractively priced) with a consolidated Value Rank of 65 (better than 65% of alternatives) but show below-average growth (Growth Rank of 41), and are riskily financed (Safety Rank of 43), which means above-average debt burdens. ...read more
RECOMMENDATION: A Combined Rank of 74, is a buy recommendation based on Codexis's financial characteristics. As the company Codexis's key financial metrics exhibit good value (Obermatt Value Rank of 65) but low growth (Obermatt Growth Rank of 41) and risky financing practices (Obermatt Safety Rank of 43), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 65% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
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360° Viewnew| Country | USA |
| Industry | Life Sciences Tools & Services |
| Index | NASDAQ |
| Size class | Small |
14-Nov-2024. Stock data may be delayed. Log in or sign up to get the most recent research.
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Review the performance ranks of the individual metrics that form each investment strategy.
Research History: Codexis
| RESEARCH HISTORY | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 16 |
|
21 |
|
47 |
|
65 |
|
| GROWTH | ||||||||
| GROWTH | 79 |
|
35 |
|
7 |
|
41 |
|
| SAFETY | ||||||||
| SAFETY | 38 |
|
62 |
|
62 |
|
43 |
|
| SENTIMENT | ||||||||
| SENTIMENT | n/a |
|
21 |
|
90 |
|
new |
|
| 360° VIEW | ||||||||
| 360° VIEW | n/a |
|
9 |
|
27 |
|
new |
|
Combined financial peformance in Detail
ANALYSIS: With an Obermatt Combined Rank of 74 (better than 74% compared with investment alternatives), Codexis (Life Sciences Tools & Services, USA) shares have above-average financial characteristics compared with similar stocks. Shares of Codexis are a good value (attractively priced) with a consolidated Value Rank of 65 (better than 65% of alternatives) but show below-average growth (Growth Rank of 41), and are riskily financed (Safety Rank of 43), which means above-average debt burdens. ...read more
RECOMMENDATION: A Combined Rank of 74, is a buy recommendation based on Codexis's financial characteristics. As the company Codexis's key financial metrics exhibit good value (Obermatt Value Rank of 65) but low growth (Obermatt Growth Rank of 41) and risky financing practices (Obermatt Safety Rank of 43), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 65% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
| RESEARCH HISTORY | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 16 |
|
21 |
|
47 |
|
65 |
|
| GROWTH | ||||||||
| GROWTH | 79 |
|
35 |
|
7 |
|
41 |
|
| SAFETY | ||||||||
| SAFETY | 38 |
|
62 |
|
62 |
|
43 |
|
| COMBINED | ||||||||
| COMBINED | 29 |
|
26 |
|
26 |
|
74 |
|
Value Metrics in Detail
ANALYSIS: With an Obermatt Value Rank of 65 (better than 65% compared with alternatives), Codexis shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators where three out of four are below average for Codexis. Only the Price-to-Book Capital ratio (also referred to as market-to-book ratio) indicates good stock value with a Price-to-Book Rank of 97, which means that the stock price is lower compared with invested capital than for 97% of comparable investments. All other value indicators are below the market median. Price-to-Sales is 42 which means the stock price compared with what market professionals expect for future profits is higher than 58% of comparable companies, indicating a low value concerning Codexis's revenue levels. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Book Rank of 97 and for the dividend yields rank which is lower than for 99% of comparable companies, making the stock more expensive as regards to with the company's expected dividend payouts. ...read more
RECOMMENDATION: The overall picture with a consolidated Value Rank of 65, is a buy recommendation based on Codexis's stock price compared with the company's operational size and dividend yields. Why are market participants paying such a high price for Codexis, where three out of four value indicators are below par? One reason could be that the company is well financed, indicated by the high book capital level, and has a promising future that is not yet visible in reported revenues and profits. That would also explain the low dividend yield because the company needs the cash to invest in its future. If investors can verify a picture in this sense, the stock may still be a good investment, even though current company-reported financials don't fully explain current stock prices. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more
| VALUE METRICS | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| PRICE VS. REVENUES (P/S) | ||||||||
| PRICE VS. REVENUES (P/S) | 32 |
|
34 |
|
56 |
|
42 |
|
| PRICE VS. PROFITS (P/E) | ||||||||
| PRICE VS. PROFITS (P/E) | 29 |
|
36 |
|
36 |
|
36 |
|
| PRICE VS. CAPITAL (Market-to-Book) | ||||||||
| PRICE VS. CAPITAL (Market-to-Book) | 8 |
|
19 |
|
52 |
|
97 |
|
| DIVIDEND YIELD | ||||||||
| DIVIDEND YIELD | 1 |
|
1 |
|
1 |
|
1 |
|
| CONSOLIDATED RANK: VALUE | ||||||||
| CONSOLIDATED RANK: VALUE | 16 |
|
21 |
|
47 |
|
65 |
|
Growth Metrics in Detail
ANALYSIS: With an Obermatt Growth Rank of 41 (better than 41% compared with alternatives), Codexis shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Codexis. Profit Growth has a rank of 73, which means that currently professionals expect the company to grow its profits more than 73% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 93 (above 93% of alternative investments). But Sales Growth has a below the median rank of 8, which means that, currently, professionals expect the company to grow less than 92% of its competitors, and Capital Growth also has a lower rank of 5. ...read more
RECOMMENDATION: The overall picture with a consolidated Growth Rank of 41, is a hold recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for Codexis. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more
| GROWTH METRICS | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| REVENUE GROWTH | ||||||||
| REVENUE GROWTH | 83 |
|
59 |
|
10 |
|
8 |
|
| PROFIT GROWTH | ||||||||
| PROFIT GROWTH | 29 |
|
46 |
|
6 |
|
73 |
|
| CAPITAL GROWTH | ||||||||
| CAPITAL GROWTH | n/a |
|
8 |
|
57 |
|
5 |
|
| STOCK RETURNS | ||||||||
| STOCK RETURNS | 86 |
|
61 |
|
31 |
|
93 |
|
| CONSOLIDATED RANK: GROWTH | ||||||||
| CONSOLIDATED RANK: GROWTH | 79 |
|
35 |
|
7 |
|
41 |
|
Safety Metrics in Detail
ANALYSIS: With an Obermatt Safety Rank of 43 (better than 43% compared with alternatives), the company Codexis has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Codexis is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators where two out of three are above average for Codexis.Leverage is at 100, meaning the company has a below-average debt-to-equity ratio. It has less debt than 100% of its competitors.Refinancing is at a rank of 51, meaning that the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 51% of its competitors. Liquidity is at 1, meaning that the company generates less profit to service its debt than 99% of its competitors. This indicates that the company is on the riskier side regarding debt service. ...read more
RECOMMENDATION: With a consolidated Safety Rank of 43 (worse than 57% compared with alternatives), Codexis has a financing structure that is riskier than that of its competitors. Low leverage and low refinancing risk mean a safer financing situation. However, low liquidity means that current company cash flows are low in relation to the level of debt. This is a sign of caution in case it is expected for profits to remain low. Investors should compare Obermatt’s Value, Growth, and Sentiment Ranks before deciding. They may also want to investigate why cash flows are expected to be low, making debt service for Codexis more challenging. ...read more
| SAFETY METRICS | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| LEVERAGE | ||||||||
| LEVERAGE | 48 |
|
100 |
|
100 |
|
100 |
|
| REFINANCING | ||||||||
| REFINANCING | 60 |
|
31 |
|
59 |
|
51 |
|
| LIQUIDITY | ||||||||
| LIQUIDITY | 31 |
|
37 |
|
37 |
|
1 |
|
| CONSOLIDATED RANK: SAFETY | ||||||||
| CONSOLIDATED RANK: SAFETY | 38 |
|
62 |
|
62 |
|
43 |
|
Sentiment Metrics in Detail
| SENTIMENT | 2021 | 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|---|---|
| ANALYST OPINIONS | ||||||||
| ANALYST OPINIONS | n/a |
|
3 |
|
83 |
|
new |
|
| OPINIONS CHANGE | ||||||||
| OPINIONS CHANGE | n/a |
|
30 |
|
50 |
|
new |
|
| PRO HOLDINGS | ||||||||
| PRO HOLDINGS | n/a |
|
99 |
|
82 |
|
new |
|
| MARKET PULSE | ||||||||
| MARKET PULSE | n/a |
|
42 |
|
67 |
|
new |
|
| CONSOLIDATED RANK: SENTIMENT | ||||||||
| CONSOLIDATED RANK: SENTIMENT | n/a |
|
21 |
|
90 |
|
new |
|
Free stock analysis by the purely fact based Obermatt Method for Codexis from November 14, 2024.
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