Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a loss-making company: Analyst consensus.
ACCE opinionCADIZ Inc. Common Stock (CDZI)
Fair value
Not available
ACCE price target
$3.90
Rating
Not rated
Horizon
12 months
ACCE price target published on 24 Oct 2026, 03:20 CEST; previously $3.20 since 15 Oct 2026, 00:00 CEST.
Price used: $4.34 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
16
out of 100
Analysts
100% buy
3 covering
P/E
0.0x
forward 61.7x
1-year return
-14.4%
Dividend yield
0.00%
CADIZ Inc. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
CADIZ Inc. develops and operates water supply and treatment projects in California, centred on the Cadiz Water Project in the Mojave Desert, which is designed to store and deliver groundwater from the Cadiz and Fenner valleys to Southern California agencies. Its case rests on a scarce resource and a long-dated contract structure rather than current earnings, since trailing revenue fell 76.3% and the operating margin sits at -902.4%. The near-term catalysts are regulatory and offtake milestones on the project, which would convert a largely pre-revenue asset into contracted cash flow if they land. Against a 61.7x forward P/E on a company with negative returns on equity of -183.1%, the market is clearly paying for that option rather than for the business as reported. The score of 14/100 and the absence of any index membership reflect how thin the present evidence is, so this is a name to examine in depth only if you are prepared to underwrite the project timeline itself.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
severe
Revenue collapse and cash burn
Revenue fell 76.3% year over year while free cash flow was -$26.5M. Operating margin is -902.4%, so the business is consuming cash far faster than it earns.
high
Leverage against negative equity
Debt/Equity of 4.48 and ROE of -183.1% mean the balance sheet is stretched while losses erode equity. Little room remains to absorb further revenue decline.
high
Heavy short interest
Short interest stands at 18.7% of float, which signals that a sizeable group of investors expects further deterioration.
moderate
Price above ACCE target
At $4.34 the stock trades 11.3% above the ACCE price target of $3.90. Shares are priced ahead of our own valuation view.
AI research notes
AI-assisted·How I use AIWritten Oct 24, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Three analysts rate CADIZ Buy or Strong Buy, and their mean price target sits well above the current share price.
Over the past five years revenue has grown about 97.7% per year on average, showing the business has expanded quickly.
The company's ACCE price target of $3.90 implies the stock could still rise from $4.34, with the gap now at 11.3% above the target.
Why it could disappoint
Revenue fell 76.3% in the latest year, leaving very little operating base to support the company's value.
Free cash flow over the last twelve months was negative $27M, so the company is consuming cash and will need outside funding.
Debt is 4.48 times equity and the diluted share count rose 17.7%, so existing holders face heavy leverage and dilution.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 12, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where CDZI's valuation models land
Price
$4.34
Model fair valueConfidence: low
about $10.33
Model
Fair value
Upside
Analyst consensus
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
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