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Cadiz

CDZI

Cadiz, Inc. is a water solutions provider that manages a significant portfolio of land, water, pipeline, and filtration assets in Southern California.

Market cap
$335.5M+33.5%
Revenue$15.0M+31.0%
Net income-$33.2M+2.0%
Free cash flow-$27.3M-12.3%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 13, 2026 (in a month)
Revenue estimate$4.3M
EPS estimate-$0.10

Financials

Q1 2026

Income statement

See full
Revenue$1.6M-44.8%
Gross profit$425.0K-51.5%
Operating income-$6.8M+9.3%
Net income-$8.6M+10.0%

Balance sheet

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Cash & equivalents$16.5M-23.3%
Total debt$88.9M+44.7%
Total equity$15.6M-64.5%
Total assets$146.1M+0.4%

Cash flow

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Operating cash flow-$5.5M-51.2%
CapEx$242.0K-81.2%
Free cash flow-$5.8M-16.6%

Valuation & ratios

Valuation

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Market cap$335.5M+33.5%
Enterprise value$407.85M+36.8%
P/S22.4×+5.8×

Profitability

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Gross margin31.3%+4.5pp
Operating margin-166.1%-34.9pp
Net margin-221.4%-44.6pp
FCF margin-182.3%-22.8pp

Returns & leverage

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Return on equity-111.3%+53.5pp
Debt / equity5.7×+4.3×
Current ratio1.9×-0.3×

Competitors

Profile

Cadiz, Inc. is a water solutions provider that manages a significant portfolio of land, water, pipeline, and filtration assets in Southern California. The company's core value proposition centers on the Mojave Groundwater Bank, which leverages a vast desert aquifer to provide sustainable water supply and storage solutions to public and private water systems. By integrating historical land holdings with modern conveyance infrastructure and proprietary filtration technology, the company addresses water scarcity and quality challenges in the Southwestern United States.

Competitive position

Cadiz holds a unique strategic position due to its ownership of one of the largest private groundwater basins in the U.S. and its control over critical pipeline rights-of-way that interconnect major California water systems.

GeographiesUnited States, California, Arizona
Customer segmentsGovernment agencies, Public utilities, Agricultural enterprises, Industrial companies
Business modelInfrastructure-as-a-Service, Asset-heavy development, Manufacturing, Leasing
SuppliersSteel pipe manufacturers, Linear generator suppliers, Construction management contractors, Federal and state land regulators
CustomersRegional wholesale water agencies, Municipal water districts, Disadvantaged communities, Green hydrogen producers, Commercial agriculture operators
Listed1990
Employees18.0
CEOSusan Kennedy
SectorUtilities
FilingsSEC EDGAR

Questions, answered.

What is Cadiz's market cap?
Cadiz (CDZI) has a market capitalization of $335.5M and trades on NASDAQ.
What is Cadiz's revenue and profitability?
Cadiz generated $15.0M in trailing twelve-month revenue with a net loss of $33.2M, representing a net margin of -221.4%. Gross margin stands at 31.3%, with free cash flow of -$27.3M. These figures are based on the Q1 2026 filing.
Who are Cadiz's competitors?
Cadiz's key competitors include Xylem Inc., American Water Works Company, Inc., Pure Cycle Corporation, and others. These companies compete in similar markets and product categories.
Who does Cadiz partner with?
Cadiz's notable partners include Arizona & California Railroad Company, Lytton Rancheria of California, Stantec Inc., and others.
What subsidiaries does Cadiz have?
Cadiz's subsidiaries include ATEC Water Systems, LLC, Mojave Water Infrastructure Company LLC, Cadiz Real Estate LLC, and others.
Where is Cadiz headquartered?
Cadiz is headquartered in United States of America and employs approximately 18 people. It has been publicly traded since 1990.