Codexis Inc
NASDAQ:CDXS

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Codexis Inc
NASDAQ:CDXS
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Price: 2.62 USD 3.97% Market Closed
Market Cap: $238.1m

EV/S

2.8
Current
15%
More Expensive
vs 3-y average of 2.5

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
2.8
=
Enterprise Value
$126.6m
/
Revenue
$70.4m

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
2.8
=
Enterprise Value
$126.6m
/
Revenue
$70.4m

Valuation Scenarios

Codexis Inc is trading above its 3-year average

If EV/S returns to its 3-Year Average (2.5), the stock would be worth $2.28 (13% downside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-13%
Maximum Upside
+97%
Average Upside
26%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 2.8 $2.62
0%
3-Year Average 2.5 $2.28
-13%
5-Year Average 3.2 $2.98
+14%
Industry Average 5.6 $5.16
+97%
Country Average 3 $2.82
+8%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
$126.6m
/
Jan 2026
$70.4m
=
2.8
Current
$126.6m
/
Dec 2026
$75.8m
=
1.7
Forward
$126.6m
/
Dec 2027
$86.6m
=
1.5
Forward
$126.6m
/
Dec 2028
$108m
=
1.2
Forward
$126.6m
/
Dec 2029
$158.4m
=
0.8
Forward
$126.6m
/
Dec 2030
$211.3m
=
0.6
Forward
$126.6m
/
Dec 2031
$281m
=
0.5
Forward
$126.6m
/
Dec 2032
$361m
=
0.4
Forward
$126.6m
/
Dec 2033
$456m
=
0.3
Forward

Forward EV/S shows whether today’s EV/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
US
Codexis Inc
NASDAQ:CDXS
237.1m USD 2.8 -5.4
US
PerkinElmer Inc
LSE:0KHE
1T USD 362.1 4 280.5
US
Thermo Fisher Scientific Inc
NYSE:TMO
174.6B USD 4.7 25.5
US
Danaher Corp
NYSE:DHR
125.4B USD 5.5 34
KR
Samsung Biologics Co Ltd
KRX:207940
82.3T KRW 17.9 46.1
CN
WuXi AppTec Co Ltd
SSE:603259
298.9B CNY 5.8 15.6
CH
Lonza Group AG
SIX:LONN
34.3B CHF 5.5 -118.2
US
Agilent Technologies Inc
NYSE:A
32.7B USD 4.8 25.3
US
Waters Corp
NYSE:WAT
30.4B USD 9.7 47.3
US
IQVIA Holdings Inc
NYSE:IQV
27.5B USD 2.4 20.3
US
Mettler-Toledo International Inc
NYSE:MTD
26.1B USD 7 30
P/E Multiple
Earnings Growth PEG
US
Codexis Inc
NASDAQ:CDXS
Average P/E: 502.7
Negative Multiple: -5.4
N/A N/A
US
P
PerkinElmer Inc
LSE:0KHE
4 280.5
46%
93.1
US
Thermo Fisher Scientific Inc
NYSE:TMO
25.5
18%
1.4
US
Danaher Corp
NYSE:DHR
34
26%
1.3
KR
Samsung Biologics Co Ltd
KRX:207940
46.1
15%
3.1
CN
WuXi AppTec Co Ltd
SSE:603259
15.6
6%
2.6
CH
Lonza Group AG
SIX:LONN
Negative Multiple: -118.2 N/A N/A
US
Agilent Technologies Inc
NYSE:A
25.3
18%
1.4
US
Waters Corp
NYSE:WAT
47.3
41%
1.2
US
IQVIA Holdings Inc
NYSE:IQV
20.3
25%
0.8
US
Mettler-Toledo International Inc
NYSE:MTD
30
10%
3

Market Distribution

In line with most companies in the United States of America
Percentile
47th
Based on 11 256 companies
47th percentile
2.8
Low
0 — 1.6
Typical Range
1.6 — 5.3
High
5.3 —
Distribution Statistics
the United States of America
Min 0
30th Percentile 1.6
Median 3
70th Percentile 5.3
Max 4 613 320.1

Codexis Inc
Glance View

Codexis, Inc. is an enzyme engineering company, which engages in the development and sale of therapeutics. The company is headquartered in Redwood City, California and currently employs 261 full-time employees. The company went IPO on 2010-04-22. The firm is engaged in discovering, developing and sells enzymes and other proteins. The company operates through two segments: Performance Enzymes and Novel Biotherapeutics. The Company’s CodeEvolver technology platform accelerates biologic discovery through the transformation of a starting enzyme into a biocatalyst or therapeutic candidate. The firm has commercialized its CodeEvolver protein engineering technology platform and products in the pharmaceutical’s markets. Its products include biocatalysts, chemical intermediates and Codex biocatalyst panels and kits. The company also commercialized three additional enzymes, such as Codex HiFi DNA Polymerase for use in next generation sequencing, Codex HiTemp Reverse Transcriptase for use in molecular diagnostic applications, and Codex HiCap RNA Polymerase for use in RNA synthesis applications. The firm is developing its lead program, CDX-6114 for the treatment of hyperphenylalaninemia (HPA).

CDXS Intrinsic Value
3.06 USD
Undervaluation 14%
Intrinsic Value
Price $2.62
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