Cyanotech Corporation (CYAN) fair value: what the stock is really worth
As of Oct 9, 2026: fair value of Cyanotech Corporation $1.55, price $0.78, upside +98.7%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 11, 2026.
How to read this chart
60‑month range $0.2100 – $3.79 · fair‑value band $1.01 – $2.30 · the $0.7800 price screens below the $1.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 11, 2026.
Follow Cyanotech in your weekly email
Every Wednesday you see whether Cyanotech is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Cyanotech Corporation, an agricultural company, engages in the production and sale of natural ingredients and dietary supplement products from microalgae for health and wellness markets.
Show more
Cyanotech Corporation, an agricultural company, engages in the production and sale of natural ingredients and dietary supplement products from microalgae for health and wellness markets. The company offers BioAstin Hawaiian Astaxanthin, a natural antioxidant to enhance skin, and to support eye, joint, brain, and immune health; and Hawaiian Spirulina Pacifica, a nutrient-rich dietary supplement to support natural energy, immune system, and cardiovascular health, as well as a source of protein, antioxidant carotenoids, and essential nutrients. It also provides contract extraction, and research and development services. The company sells its products through distributors, retailers, and online channels; direct to consumers; and in bulk form to manufacturers, formulators, and distributors in the health food, cosmetic manufacturers and nutraceuticals, and dietary supplement markets. It operates in the United States, the Asia-Pacific, Europe, and internationally. Cyanotech Corporation was incorporated in 1983 and is headquartered in Kailua-Kona, Hawaii.
Stock analysis
Cyanotech Corporation (CYAN) currently trades at $0.7800, while our model-based Fair Value estimate is $1.55, implying the stock looks roughly 49.7% undervalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of $1.36 per share, and 6 of the 10 models we run sit above the $0.7800 price.
Bear case: the Asset-Based group reads lowest at $0.7100, and 4 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: $1.01 (bear) to $2.30 (bull), the price of $0.7800 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 45/100 (below-average quality), in the Consumer Defensive sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Cyanotech Corporation reported revenue of $26.6M in FY2026 versus $36.0M in FY2022, a compound −7.3%/yr. Reported net income was −$1.3M in FY2026.
Key figures
Market cap $5.7M · P/S ratio 0.15 · EPS (TTM) $−0.2400 · Net margin −4.8% · Return on equity −20.0% · Return on assets (EBIT) −6.7% · Operating margin 2.7% · Revenue (TTM) $25.3M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 179% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 6% fair-value upside, at 99%, CYAN screens cheaper than that median.
Fair Value models
Bear $1.01Fair Value $1.55Bull $2.30
Price $0.7800 · Upside +98.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.24/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+9.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.8%
Start year 2021 (pandemic). Over 10 years: −1.8% a year
Revenue growth 36 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.3%
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
’26
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
0.3% (2021) → −2.2% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+43.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +39.8% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer Groupⓘ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.Packaged Foods · 634 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside+106.7% · Top 25%
Profitability
Return on assets−2.5% · Bottom 25%
Net margin (TTM)−7.0% · Bottom 25%
Operating margin (TTM)2.7% · Below median
Growth and dividend
Revenue growth19.4% · Top 25%
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Packaged Foods median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Cyanotech Corporation Fair Value". https://www.fairvalue-calculator.com/stock/CYAN
Frequently asked questions
Is Cyanotech Corporation (CYAN) overvalued or undervalued?
As of Oct 11, 2026, our model estimates a fair value of $1.55 versus a price of $0.7800, about +99% upside (undervalued).
What is the fair value of CYAN?
Our model-based fair value for Cyanotech Corporation is $1.55 (as of Oct 11, 2026), built from audited fundamentals. The current price: $0.7800.
What is the quality score of CYAN?
Cyanotech Corporation has a Quality Score of 45/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cyanotech Corporation (CYAN)?
Our model-based price target is the fair value of $1.55 (as of Oct 11, 2026) from 10 valuation models. Cautious scenario $1.01, optimistic scenario $2.30. It is a calculation from audited fundamentals, not an analyst target.
What is the Cyanotech Corporation stock forecast for 2026?
Our models put fair value at $1.55, about +99% upside versus a price of $0.7800 (undervalued). Cautious scenario $1.01, optimistic scenario $2.30. The calculation is refreshed regularly with new filings.
What is the revenue of Cyanotech Corporation (CYAN)?
Cyanotech Corporation reported trailing-twelve-month revenue of about $25.3M (latest available figure, as of Oct 11, 2026).
What growth is priced into Cyanotech Corporation (CYAN)?
For today's price to be fair in a discounted-cash-flow model, Cyanotech Corporation would have to grow free cash flow by +43.1 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -3.8 % per year. As of Oct 11, 2026.
What discount rate (WACC) does the fair value of CYAN use?
Our models discount Cyanotech Corporation at 8.5 %: a base by market capitalisation (nano), damped by beta 0.08, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cyanotech Corporation that is +43.1 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has Cyanotech Corporation (CYAN) delivered so far?
Over the past 5 years revenue at Cyanotech Corporation grew -3.8 % a year. The price currently implies +43.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cyanotech Corporation (CYAN) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Cyanotech Corporation (+43.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cyanotech Corporation (CYAN)?
The free-cash-flow yield on the price is 1.62 %: that much free cash flow Cyanotech Corporation produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cyanotech Corporation (CYAN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cyanotech Corporation it is $1.55 per share (as of Oct 11, 2026), against a price of $0.7800. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Cyanotech Corporation stock overvalued or undervalued in 2026?
As of Oct 11, 2026, CYAN trades below its calculated fair value: price $0.7800, fair value $1.55, a gap of about +99% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CYAN?
No. The price is what the market pays today ($0.7800); the fair value is what the company's own numbers justify ($1.55). For Cyanotech Corporation the two are $0.7700 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cyanotech Corporation worth?
The market values Cyanotech Corporation at about $5.7M (market capitalisation, as of Oct 11, 2026). Per share that is $0.7800; our models calculate a fair value of $1.55 per share.
What do the bullish and bearish scenarios say about CYAN?
Our models span a range for Cyanotech Corporation: cautious scenario $1.01, base $1.55, optimistic $2.30 per share (as of Oct 11, 2026, price $0.7800). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Cyanotech Corporation (CYAN)?
Balance-sheet figures for Cyanotech Corporation (as of Oct 11, 2026): return on equity −20.0%, debt of 0.13 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is CYAN from its 52-week high?
Cyanotech Corporation trades at $0.7800, at its 52-week high of $0.7800 and 179% above the low of $0.2800 (as of Oct 9, 2026). Distance from the high says nothing about value: that is what the fair value of $1.55 is for.
Which stocks are comparable to Cyanotech Corporation?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, Foshan Haitian Flavouring and Food Company, The Kraft Heinz Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cyanotech Corporation stock attractive at the current price?
The data as of Oct 11, 2026: price $0.7800, calculated fair value $1.55 (+99%), Quality Score 45/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CYAN calculated?
We run Cyanotech Corporation through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $1.55, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. Cyanotech Corporation currently trades 50 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cyanotech Corporation (CYAN)?
The closing price on Oct 9, 2026 was $0.7800. Our model-based fair value is $1.55, about +99% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cyanotech Corporation right now?
The price is below even our cautious bear case ($1.01). 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. Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($1.01 to $2.30) leaves room in how you read the outcome.
Key figures of Cyanotech Corporation
How large is the market capitalisation of Cyanotech Corporation (CYAN)?
The market capitalisation of Cyanotech Corporation is $5.7M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cyanotech Corporation (CYAN)?
The price-to-sales ratio of Cyanotech Corporation is 0.15 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cyanotech Corporation (CYAN)?
Earnings per share at Cyanotech Corporation are $−0.2400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cyanotech Corporation (CYAN)?
The net margin of Cyanotech Corporation is −4.8% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cyanotech Corporation (CYAN)?
The return on equity (ROE) of Cyanotech Corporation is −20.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cyanotech Corporation (CYAN)?
On an EBIT basis the return on assets of Cyanotech Corporation is −6.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cyanotech Corporation (CYAN)?
The operating margin of Cyanotech Corporation is 2.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cyanotech Corporation (CYAN)?
Revenue at Cyanotech Corporation is growing +19.4% versus a year earlier (3y avg +4.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cyanotech Corporation (CYAN)?
Earnings per share at Cyanotech Corporation are growing −53.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cyanotech Corporation (CYAN) carry?
The net debt of Cyanotech Corporation is $10.8M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Cyanotech Corporation in the live analysis
One click puts Cyanotech Corporation on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener.
Thin data
Oct 11, 2026