Co-Diagnostics, Inc.

CODXNASDAQHealthcare● Active

$5.05

$-0.58(-10.30%)

Market Cap$5637042

P/E Ratio—

52W High$46.5

52W Low$1.26

Avg Volume6.6M

Open$5.53

Beta2.75

Free Cash Flow Financials Revenue

Co-Diagnostics, Inc. (CODX) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CODX · free cash flow · updated Jun 8, 2026

Core FCF metrics

CODX · FCF · TTM · margin & CAGR

Free cash flow was −$29.8M for FY2025 (fiscal year ending 2025-12-31), up 0.2% year-over-year

FY2025 Free Cash Flow−$29.8M▲ +0.2% YoY

Trailing 12M (TTM)−$29.0Mtrailing 4 quarters sum

FCF Margin< −999%−$29.8M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CODX · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$29.1M(1M)−$29.8M▲ +0.2%—

FY2024−$29.2M(1M)−$29.9M▼ 27.5%-763.8%

FY2023−$22.1M(1M)−$23.4M▼ 556.1%-344.2%

FY2022$6.6M(1M)$5.1M▼ 87.3%15.0%

FY2021$41.1M(1M)$40.4M▲ +47.5%41.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CODX · P/FCF · FCF yield · FCF per share

Co-Diagnostics, Inc. (CODX) reported negative free cash flow of −$0.03B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

CODX · cash flow statement · operating / investing / financing

For FY2025, Co-Diagnostics, Inc. generated −$29.1M in operating cash flow and spent 1M in capital expenditures, yielding −$29.8M in free cash flow.

Operating Activities

−$29.1M

Cash from core business operations

2025-12-31

Investing Activities

+$26.3M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$11.8M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$29.1M) − |CapEx| (1M) = FCF (−$29.8M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

CODX vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Co-Diagnostics, Inc.YOU

CODX

−$29.8M+0.2%-4793.2%

Loss

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Co-Diagnostics, Inc. (CODX) reported free cash flow of −$29.8M for FY2025 (fiscal year ending 2025-12-31), up 0.2% year-over-year.

Based on available data, Co-Diagnostics, Inc. has maintained positive free cash flow for at least 3 fiscal year(s). FCF peaked at $40.4M in FY2021.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CODX free cash flow · 8 questions

Co-Diagnostics, Inc. free cash flow was −$29.8M for FY2025, up 0.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$29.0M.

CODX free cash flowCODX FCFCODX FCF 2025CODX free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Co-Diagnostics, Inc. · Co-Diagnostics, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026