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Companies / Utilities / Cadiz Inc.
CDZI

Cadiz Inc.

UtilitiesElectric, Gas & Water
Ticker CDZILOS ANGELES, CAFiscal year ends DecemberBook value per share $0.12Diluted shares 40.6M

Cadiz Inc. (Nasdaq: CDZI) is a California water solutions company developing water supply, groundwater storage and conveyance infrastructure, while also operating agricultural land and selling water filtration systems. Its customers include public and private water systems, government agencies, municipalities,… From the company’s description.

Over the twelve months to Jun 30, 2026, Cadiz Inc. reported revenue of $11.84M, down 21.3% from a year earlier, and a net loss of $36.84M. Its operating margin was −236.1%, and operations used $26.09M in cash. In fiscal 2025, it reported revenue of $16.31M, up 69.8% from fiscal 2024, and a net loss of $34.15M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$16.31MFY2025
+69.8% year over year
Last 12 mo $11.84M
-156.92%FY2025
+85.1 percentage points
Last 12 mo -236.05%
$-34.15MFY2025
−9.7% year over year
Last 12 mo $-36.84M
-146.85%FY2025
−55.2 percentage points
Last 12 mo -789.67%
Cash & financing
$-18.93MFY2025
+12.1% year over year
Last 12 mo $-26.09M
$-26.51MFY2025
−18.0% year over year
Last 12 mo $-31.23M
3.13FY2025
Was 1.67× a year earlier
Last 12 mo 18.65
—

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Cadiz Inc. does

In the company’s own words

Cadiz Inc. (Nasdaq: CDZI) is a California water solutions company developing water supply, groundwater storage and conveyance infrastructure, while also operating agricultural land and selling water filtration systems. Its customers include public and private water systems, government agencies, municipalities, utilities, industries and engineering and construction firms. The company owns approximately 46,000 acres in Southern California’s Mojave Desert and is developing the Mojave Groundwater Bank, permitted for 2.5 million acre-feet of conserved water supply over 50 years and up to 1 million acre-feet of imported water storage. Planned Northern and Southern pipelines would connect the project with regional water systems. Its ATEC subsidiary manufactures modular filtration systems that treat contaminants including arsenic, nitrates, iron and manganese; ATEC has built more than 500 systems. Cadiz also farms alfalfa and other grain crops and leases land for agricultural and proposed green hydrogen development. In 2025, ATEC generated $14.5 million in revenue, and the company employed 31 full-time employees at year-end. Its website is http://www.cadizinc.com.

Company details
Sector
Utilities
Industry (SIC)
Electric, Gas & Water
Headquarters
LOS ANGELES, CA
Fiscal year end
December
CIK
727273
SIC
4941

Financial performance, year by year

Fiscal 2011–2025 · USD
$-43.23M$-26.99M$-10.75M$5.49M$21.73M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Cadiz Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

94
funds hold it
0 of 35
superinvestors hold it
$34.06M
held by funds, at market
9.5%
of shares held by funds

Largest fund holders · Cadiz Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.01%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Small Cap Index Fund
FSSNX · Fidelity Salem Street Trust
—of fund net assets
0.01%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Cadiz Inc. and its peers compare on margins and cash generation over ten years?”
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