Fundamental analysis: Co-Diagnostics, Inc. (CODX)

Awarener score: 5.4

Conclusion

The higher the Awarener score, the more bang you get for the buck. It measures how much genuine funds the company generates for the stock price paid (could not be estimated), the business stability (Bottom) and growth (Superb), and the company's inclination to return cash to the stockholders (Poor).

Note: All scores range from 1 (worst) to 10 (best). Conclusions are updated daily with closing stock prices and new reported quarterly financial statements.

Revenue score: 5.5

Business has been growing at an extremely fast pace. It's been top tier when measured against peer companies.
Co-Diagnostics, Inc. business varies wildly, ups and downs could be very frequent. It's very risky. It looks bottom tier against rivals.

Margins score: 2.3

CODX profit margins -on goods and services sold- are usually excellent. They stand better than most rival companies.
Business profit on sales tends to be pauper. It's last-in-rank when measured against competitors.
Profits on sales made -available to repay debt and purchase properties- are usually destitute. They remain a disappointment compared to peers.
Earnings -before income taxes and interests on loans taken- tend to be pauper in relation to total revenues. They're still bottom tier against similar companies.
Profits -before income taxes- are usually destitute considering total sales, and remain substantially worse when measured against rivals.
Total net profit tends to be pauper when confronted to sales. Company stands substantially worse when measured against comparable firms.

Growth score: 2.3

Co-Diagnostics, Inc. profit -on goods and services sold- has been growing at an extremely fast pace. It's been impressive in relation to competitors.
In recent years, the firm hasn't always been able to profit from operations, which has been bottom tier against comparable firms.
In past years, the company couldn't always turn a profit -available to repay debt and purchase properties-, which compares last-in-rank when measured against peer enterprises.
In the previous years, the firm couldn't always make a profit -before income taxes and interests on loans taken-. It turns to be a disappointment compared to similar stocks.
In past years, at least once the company lost money -before income taxes-. It was bottom tier against rivals.
In the previous years, the firm had at least a total net loss, and last-in-rank when measured against peer companies.
The company lost money at least once in the past years. It's been a disappointment compared to industry peers.

Miscellaneous score: 8.0

CODX managed to pay no income taxes on profits made in the past years, sometimes even got a credit. It's been slightly better than peers.
Research and development expenses consume some portion of revenues. It's similar to competitors.
The company shows excellent business growth in relation to research and development efforts. It stands impressive in relation to rival companies.

Profitability score: 1.0

Co-Diagnostics, Inc. usually gets pauper returns on the resources it controls. It proves substantially worse when measured against peer firms.
Due to insufficient track history, we were unable to estimate typical returns on invested capital (ROIC). They remain undisclosed in relation to similar companies.
Normal return on equity (ROE) is unavailable at this time, because of not enough yearly inputs to calculate. It ranks unknown against competitors.
In the past, got pauper returns -on the tangible resources it controls-. This metric is usually related to the industry in which operates and combines profitability versus reinvestment needs. It's substantially worse when measured against comparable enterprises.

Usage of Funds score: 6.2

CODX usually uses a slight portion of genuine funds generated to buy or replace property, plant, or equipment. The need for reinvestments is light. It stands substantially worse when measured against rival firms.
The company is usually largely investing in new property, plant, and equipment, to expand its operating capabilities, which is more than average in relation to industry peers.
In the past twelve months the stock paid no dividends. It came bottom tier against competitors.
The company pays no dividend, so measuring its growth is meaningless. The company has behaved in an conservative way compared to similar firms.
As no dividends are paid, it is useless trying to estimate their sustainability in time. Sustainability looks not applicable in regard to comparable companies.
The company has significantly enlarged the pool of investors in previous years, resulting in more mouths feeding on the pie of profits. It remains lacking compared to peer enterprises.
Repurchase effectiveness metric is very complex. Run again in analytical mode if you're interested in a technical explanation. It stands rather normal in relation to rivals.
The company uses a slight portion of genuine fund generation to reward investors. The company is usually improving its financial position, and could most likely increase stockholder rewards if it wished to do so. It still looks great when measured against competitors.

Balance Sheet score: 6.2

Co-Diagnostics, Inc. intangible assets (like brands and goodwill) represent a modest portion of resources controlled, according to accounting books. There could be some difficulties in liquidating them if the company ever gets in financial distress. It happens to be below average when measured against peer companies.
The company has plenty short-term resources to face short-term obligations. There're no liquidity concerns. It turns to be impressive in relation to similar firms.
Almost no resources controlled were provided for with financial debt. Financial strength is great. Company could significantly increase debt if it wished so, to reinvest in business, to buy a smaller company or to reward stockholders. It remains top-notch against rival firms.
Resources controlled can be quickly made into cash, which is very good for liquidity and risk. It looks almost average when measured against rivals.
For every dollar of short-term obligations, the company has plenty of dollars in cash and short-term receivables. It's impressive in relation to peer firms.
For every dollar of short-term obligations, the company has plenty of dollars in cash and equivalents, which is top-notch against similar enterprises.
Usually, sales are on slightly higher than two months credit. It still ranks similar to peers.
Normally has more than six months of sales worth in inventory. It comes up as in a very weak position compared to competitors.
On average, it takes plenty of months from the purchase to charging customers. It happens to be mediocre against peers.
On average pays suppliers longer than two months after the purchase. It ranks almost average when measured against industry peers.
The company pays its suppliers plenty of months before charging its customers, so there's a lot of money invested in working capital. It's in a very weak position compared to similar companies.
Company earns net interest income on its investments and therefore is in a quite comfortable financial position. It stands top-notch against rival firms.
Business earnings have usually been great when measured against loans taken. Debt might be repaid almost as soon as desired. It ranks top tier when measured against comparable enterprises.
Revenues are very good in relation to property, plant, and equipment required to operate. This metric is likely dependent on the industry the company operates in. Low property, plant, and equipment requirements allows the company to keep more money to reward stockholders in the long run. It looks excellent in relation to similar firms.
Resource exploitation is low when yearly sales are considered, business volume must be significantly increased. This metric is normally tied to the industry where the firm belongs. It's still mediocre against peer companies.

Valuation score: 5.3

Co-Diagnostics, Inc. reported losses, so valuating it in relation to earnings is meaningless. It happens to be last-in-rank when measured against competitors.
Price-to-Tangible-Book-Value is a fairly complex metric. Run again in analytical mode if you're interested in a technical explanation. It remains impressive in relation to peers.
There is insufficient information on the genuine funds generation capability showed in the past twelve months, which stands as an incognita in relation to similar companies.
Unfortunately, lack of enough yearly data impaired our ability to estimate the normal earnings power. It's still an unknown variable to measure against industry firms.
In the past twelve months, the company has significantly enlarged the pool of investors by issuing new shares. Future profits need to be high enough to justify the measure, as the pie of earnings will now be split among numerous more stockholders. It came up close to average when compared to peer ventures.
We are unsure on the relationship between net financial position and market capitalization of the stock. It looks we will not be able to reach a conclusion regarding similar enterprises.
Considering the past twelve months, traditional Price-to-Earnings relation has been negative, as the company lost money. It ranks last-in-rank when measured against peer companies.
Comparing the current stock price with the past twelve-months revenues gives a more than one-to-one relationship. This is an important metric to check its evolution through time, and to compare to industry peers. It looks excellent in relation to rival firms.
The stock price is significantly below the accounting book value. Unless profitability is extremely low, the stock may be selling at a large discount. Pay attention to the other key indicators for hints. The company remains top-notch against peer firms.
We could not gauge an alternative metric of earnings power of the past twelve months. It happens to be an interesting metric to relate to industry peers.
An alternate metric on the usual genuine-funds generation ability could not be provided. It's still unknown against peer companies.

Total score: 4.6

Company at a glance: Co-Diagnostics, Inc. (CODX)

Sector, industry: Healthcare, Medical Devices

Market Cap: 0.03 billions

Revenues TTM: 0.03 billions

Co-Diagnostics, Inc., a molecular diagnostics company, develops, manufactures, and sells reagents used for diagnostic tests that function through the detection and/or analysis of nucleic acid molecules in the United States and internationally. It offers polymerase chain reaction (PCR) diagnostic tests for COVID-19, tuberculosis, hepatitis B and C, human papilloma virus, malaria, chikungunya, dengue, and the zika virus; three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; and molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications. The company also provides tests that identify genetic traits in plant and animal genomes; and portable PCR device designed to bring PCR to patients in point-of-care and at-home settings. In addition, it intends to sell diagnostic equipment from other manufacturers as self-contained lab systems. The company was incorporated in 2013 and is headquartered in Salt Lake City, Utah.