# Cadiz Inc. (CDZI) · Edgar & Edgarette company card

> Cadiz (CDZI) grew revenue 69.8% in FY2025 to $16 million, operating margin -157% against a 26.3% median for water supply, equity 16.5% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 727273 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/CDZI) · [JSON](https://www.pops4.com/boards/company/CDZI.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $16M |
| Revenue growth, 1 year | 69.8% |
| Revenue growth per year | 131.9% |
| Operating margin | -156.9% (prior year -242.0%) |
| Net margin | -209.3% |
| Operating cash flow | −$19M |
| Capital spending | $8M |
| Free cash flow | −$27M |
| Cash | $9M |
| Long-term debt | $73M |
| Total assets | $141M |
| Total equity | $23M |
| Equity ÷ assets | 16.5% |
| Return on equity | -146.8% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 3 of 9 (middling)
- Health Harbor boat: Weathered boat · two warning signs · operating cash flow was negative; revenue is hard to predict: its 80% range is ±58%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $16.3M (FY2025), total debt $72.8M. Experience: revenue up 69.8% on the year, up 131.9% a year over 4 years; operating margin -156.9%, up from -242.0%. Soundness: equity 16.5% of assets, return on equity -146.8%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $16.2M and $60.7M next year (method v4.1: its own 5-year record of growth weighed at 57% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $14.8M to $66.7M. A statistical range, not company guidance. Against peers (10 filers, $50M+ revenue, water supply): operating margin -156.9% against a 26.3% median; growth 69.8% against 6.1%.

Range logged 2026-10-30, receipt 8fec345782fbaaf2, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-07-27 ([filing](https://www.sec.gov/Archives/edgar/data/727273/000121390026081581/0001213900-26-081581-index.htm))

## Recent filings

- 8-K · filed 2026-10-29 · 1.01 Entry into a Material Definitive Agreement; 7.01 Regulation FD Disclosure; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/727273/000121390026113824/0001213900-26-113824-index.htm)
- 10-Q · filed 2026-08-13 · [filing](https://www.sec.gov/Archives/edgar/data/727273/000143774926027664/0001437749-26-027664-index.htm)
- 8-K · filed 2026-07-28 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/727273/000121390026082311/0001213900-26-082311-index.htm)
- 8-K · filed 2026-07-27 · 5.02 Departure or Election of Directors; Appointment of Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/727273/000121390026081581/0001213900-26-081581-index.htm)
- 8-K · filed 2026-07-15 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/727273/000121390026078146/0001213900-26-078146-index.htm)
- 8-K · filed 2026-06-23 · 5.03 Amendments to Articles or Bylaws; Change in Fiscal Year; 5.07 Submission of Matters to a Vote of Security Holders; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/727273/000143774926021420/0001437749-26-021420-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000727273.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=727273

## Cite

POPS4, Edgar & Edgarette: Cadiz Inc. (CDZI) company card, from the company's own SEC filings, accessed 2026-10-30, https://www.pops4.com/boards/company/CDZI. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.