Cadiz

CDZI

Regulated Water · Utilities

Price

$3.40

-0.08 (-2.30%)

Market Cap

$285.9M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+99.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 40.6M (2021) → 81.1M (2025)

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, an

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-44.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+14.3% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

33.3%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~9 months

$17M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Cadiz has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

26.0%

Modest — 26.0% gross margin

Operating Margin

-418.8%

Losing money on operations — -418.8%

ROCE

-14.4%

Weak — -14.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+31.0%

Fast-growing sales (31.0% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-182.3%

Burning cash (-182.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

2.05

Heavy debt load (2.05)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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