Co-Diagnostics, Inc (CODX) Fair Value & Analysis

Healthcare · US · Market cap $5.2M

Below-average quality, screening 58% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (21/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case ($1.46). The market is more pessimistic than our downside scenario.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
• A fairly wide model range ($1.46 to $2.76) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 17, 2026.

How to read this chart

60‑month range $1.29 – $341.40 · fair‑value band $1.46 – $2.76 · the $1.40 price screens below the $2.21 fair value. Dashed = 300-day average. As of Aug 17, 2026.

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Analysis

Co-Diagnostics, Inc (CODX) currently trades at $1.40, while our model-based Fair Value estimate is $2.21, implying the stock looks roughly 57.9% undervalued today. The Quality Score stands at 21/100 (below-average quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Trailing-twelve-month revenue stands at $718K. Revenue grew 190.3% year over year. The balance sheet holds a net cash position of $10.6M. Fundamentals as of Aug 17, 2026

Our scenario range runs from $1.46 (bear case) to $2.76 (bull case); at $1.40, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Healthcare peers we cover trades at -33% fair-value upside, at 58%, CODX screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Key figures & financial health

Quality Score breakdown

About the company

Co-Diagnostics, Inc. operates as a molecular diagnostics company that 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.

Full company description

Co-Diagnostics, Inc. operates as a molecular diagnostics company that 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 Co-Dx PCR platform, a polymerase chain reaction testing to patients in point-of-care and at-home setting. The company also provides PCR diagnostic tests for COVID-19, influenza, tuberculosis, hepatitis B and C, malaria, dengue, human papillomavirus, chikungunya, and Zika virus. In addition, the company offers three multiplexed tests to test mosquitos for the identification of diseases carried by the mosquitos; molecular tools for detection of infectious diseases; tests that identify genetic traits in plant and animal genomes; and portable diagnostic device designed to bring PCR to patients in point-of-care and at-home settings. Co-Diagnostics, Inc. was incorporated in 2013 and is based in Salt Lake City, Utah.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Co-Diagnostics, Inc reported revenue of $622K in FY2025 versus $97.9M in FY2021, a compound −71.8%/yr. Reported net income was −$46.9M in FY2025.

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Peer Group

Medical Devices · 350 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Medical Devices median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.