Cadiz Inc. (CDZI)
Nasdaq · Water Supply · Transportation, communications and utilities · CIK 727273 · fiscal year ends in Dec
Closing price $4.56 on 30 Oct 2026; 52-week range $2.98 to $6.92.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $11.8M
- Revenue growth
- -21.3%
- Net income, last twelve months
- -$36.8M
- Earnings per share
- -$0.50
- Gross margin
- 27.1%
- Operating margin
- -236.1%
- Net margin
- -311.0%
- Free cash flow
- -$31.2M
- Return on equity
- -789.7%
- Market value
- $383.8M
- Cash
- $5.3M
- Debt
- $87.0M
- Debt to equity
- 18.65
- Shares outstanding
- 84.2M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $16.3M | -$25.6M | -$34.2M | -$0.48 | -$26.5M | 10-K filed 31 Mar 2026 |
| FY2024 | 31 Dec 2024 | $9.6M | -$23.2M | -$31.1M | -$0.53 | -$22.5M | 10-K filed 28 Mar 2025 |
| FY2023 | 31 Dec 2023 | $2.0M | -$20.9M | -$31.4M | -$0.56 | -$26.7M | 10-K filed 28 Mar 2024 |
| FY2022 | 31 Dec 2022 | $1.5M | -$16.6M | -$24.8M | -$0.60 | -$22.0M | 10-K filed 30 Mar 2023 |
| FY2021 | 31 Dec 2021 | $564.0K | -$17.5M | -$31.2M | -$0.84 | -$38.2M | 10-K filed 29 Mar 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $979.0K | -$11.4M | -$0.15 |
| Q1 FY2026 | 31 Mar 2026 | $1.6M | -$8.6M | -$0.12 |
| Q4 FY2025 | 31 Dec 2025 | $5.1M | -$9.8M | -$0.13 |
| Q3 FY2025 | 30 Sep 2025 | $4.1M | -$7.1M | -$0.10 |
| Q2 FY2025 | 30 Jun 2025 | $4.1M | -$7.7M | -$0.11 |
| Q1 FY2025 | 31 Mar 2025 | $3.0M | -$9.6M | -$0.14 |
| Q4 FY2024 | 31 Dec 2024 | $4.8M | -$8.6M | -$0.14 |
| Q3 FY2024 | 30 Sep 2024 | $3.2M | -$6.8M | -$0.12 |
Revenue by segment
As the company reports it in the segment note of its annual report.
By business, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Water Treatment | $14.5M | 88.8% |
| Water and Land Resources | $1.8M | 11.2% |
Company events
The newest 8-K filings of 159 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 29 Oct 2026 | 8-K | Material agreement, Investor update, Other events | 1.01, 7.01, 8.01, 9.01 |
| 28 Jul 2026 | 8-K | Material agreement | 1.01, 9.01 |
| 27 Jul 2026 | 8-K | Leadership change, Investor update | 5.02, 7.01, 9.01 |
| 15 Jul 2026 | 8-K | Other events | 8.01 |
| 23 Jun 2026 | 8-K | Shareholder vote, Bylaws or fiscal year change | 5.03, 5.07, 9.01 |
| 20 May 2026 | 8-K | Investor update | 7.01, 9.01 |
| 4 Feb 2026 | 8-K | Leadership change | 5.02 |
| 28 Oct 2025 | 8-K | Material agreement, New debt, Investor update, Other events | 1.01, 2.03, 7.01, 8.01, 9.01 |
| 26 Sep 2025 | 8-K | Other events | 8.01, 9.01 |
| 7 Aug 2025 | 8-K | Other events | 8.01 |
| 20 Jun 2025 | 8-K | Investor update, Other events | 7.01, 8.01, 9.01 |
| 13 Jun 2025 | 8-K | Shareholder vote | 5.07, 9.01 |
Every filing
The newest filings with the SEC of 507 held.
| Filed | Form | Period |
|---|---|---|
| 29 Oct 2026 | 8-K | 29 Oct 2026 |
| 29 Oct 2026 | 10-K/A | 31 Dec 2025 |
| 14 Aug 2026 | S-8 | – |
| 13 Aug 2026 | 10-Q | 30 Jun 2026 |
| 28 Jul 2026 | 8-K | 27 Jul 2026 |
| 27 Jul 2026 | 8-K | 27 Jul 2026 |
| 15 Jul 2026 | 8-K | 14 Jul 2026 |
| 23 Jun 2026 | 8-K | 18 Jun 2026 |
| 20 May 2026 | 8-K | 20 May 2026 |
| 14 May 2026 | 10-Q | 31 Mar 2026 |
| 6 May 2026 | DEFA14A | – |
| 30 Apr 2026 | ARS | 31 Dec 2025 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 1 Oct 2026 | O'Hara David Mark, Director | Took pay in stock | 4,954 | $3.79 | $18.8K | – | 5 Oct 2026 |
| 1 Oct 2026 | Dreyfus Maria S., Director | Took pay in stock | 4,954 | $3.79 | $18.8K | – | 5 Oct 2026 |
| 1 Oct 2026 | Lloyd Barbara A, Director | Took pay in stock | 1,238 | $3.79 | $4.7K | – | 5 Oct 2026 |
| 1 Jul 2026 | Lloyd Barbara A, Director | Took pay in stock | 1,116 | $4.20 | $4.7K | – | 2 Jul 2026 |
| 1 Jul 2026 | O'Hara David Mark, Director | Took pay in stock | 4,464 | $4.20 | $18.7K | – | 2 Jul 2026 |
| 1 Jul 2026 | Dreyfus Maria S., Director | Took pay in stock | 4,464 | $4.20 | $18.7K | – | 2 Jul 2026 |
| 20 May 2026 | Rivera Cathryn, Chief Operating Officer | Sale outside a trading plan | 2,500 | $4.33 | $10.8K | 145,000 | 3 Jun 2026 |
| 26 May 2026 | O'Hara David Mark, Director | Purchase | 110,865 | $4.58 | $507.8K | 117,841 | 28 May 2026 |
| 1 Apr 2026 | Lloyd Barbara A, Director | Took pay in stock | 927 | $5.05 | $4.7K | – | 3 Apr 2026 |
| 1 Apr 2026 | Dreyfus Maria S., Director | Took pay in stock | 3,709 | $5.05 | $18.7K | – | 3 Apr 2026 |
| 1 Apr 2026 | O'Hara David Mark, Director | Took pay in stock | 3,267 | $5.74 | $18.8K | – | 3 Apr 2026 |
| 1 Apr 2026 | O'Hara David Mark, Director | Took pay in stock | 3,709 | $5.05 | $18.7K | – | 3 Apr 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 28 Oct 2026 | BANK OF AMERICA CORP /DE/ | 13G | 5.9% | 5.0M |
| 27 Jul 2026 | BlackRock, Inc. | 13G | 6% | 5.0M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 13.3M | +24.94% | 8.97 |
| 30 Sep 2026 | 10.7M | +11.71% | 8.86 |
| 15 Sep 2026 | 9.6M | +3.45% | 10.88 |
| 31 Aug 2026 | 9.2M | +4.53% | 9.39 |
| 14 Aug 2026 | 8.8M | -0.52% | 15.38 |
| 31 Jul 2026 | 8.9M | -1.79% | 7.24 |
| 15 Jul 2026 | 9.0M | +18.32% | 6.55 |
| 30 Jun 2026 | 7.6M | +8.48% | 8.25 |
Funds that hold it
From each fund's latest Form 13F.
148 funds held it at 30 Jun 2026: 53 added and 39 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| BlackRock, Inc. | 5,135,402 | $21.5M | +1,307,115 |
| Levin Capital Strategies, L.P. | 4,496,579 | $18.8M | +680,410 |
| Whitefort Capital Management, LP | 3,986,822 | $16.7M | 0 |
| Bank of America Corp. | 3,518,928 | $14.7M | -9,366 |
| Barclays PLC | 3,469,347 | $14.5M | -251,838 |
| Vanguard Capital Management LLC | 2,473,582 | $10.3M | +117,269 |
| Stonehill Capital Management LLC | 2,125,937 | $8.9M | +180,527 |
| Geode Capital Management, LLC | 1,481,764 | $6.2M | +89,642 |
| State Street Corp. | 1,407,369 | $5.9M | +72,249 |
| Morgan Stanley | 1,005,149 | $4.2M | -32,320 |
Peers
Companies in the same industry.
- American Water Works Company, Inc. (AWK): revenue $5.3B, market value $28.8B
- Essential Utilities, Inc. (WTRG): revenue $2.6B, market value $12.4B
- American States Water Co. (AWR): revenue $697.5M, market value $3.4B
- California Water Service Group (CWT): revenue $1.0B, market value $3.0B
- H2O America (HTO): revenue $838.2M, market value $2.9B
- Middlesex Water Co. (MSEX): revenue $212.3M, market value $1.1B
- York Water Co. (YORW): revenue $83.4M, market value $513.2M
- Consolidated Water Co. Ltd. (CWCO): revenue $127.6M, market value $430.6M
- Artesian Resources Corp. (ARTNA): revenue $116.9M, market value $346.9M
- Pure Cycle Corp. (PCYO): revenue $33.7M, market value $257.8M