CDXS
Codexis, Inc.
CDXS's outlook is improving, though it still trails on the overall score.
LLY
Eli Lilly and Company
LLY has the edge over CDXS overall, supported by lower modeled downside and stronger fundamentals.
CDXS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
CDXS's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
CDXS PE Valuation
CDXS has no meaningful PE right now: it lost money over the past year.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
CDXS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect CDXS's losses to shrink, with revenue holding steady. However, they disagree widely on these estimates.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
LLY has the edge over CDXS on the outlook, with more favorable revenue expectations.
CDXS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.18 | +$0.57 |
| Q2 2026 | -$0.32 | +$0.50 |
| Q1 2026 | -$0.35 | +$0.63 |
| Q4 2025 | -$0.50 | +$0.39 |
| Q3 2025 | -$0.75 | +$0.13 |
| Q2 2025 | -$0.82 | +$0.27 |
| Q1 2025 | -$0.98 | -$0.04 |
| Q4 2024 | -$0.89 | +$0.23 |
CDXS is still losing money, but far less than before: $0.18 per share over the past year, against $1.20 at its worst in late 2023.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY has the edge over CDXS on earnings quality, reporting a profit while its opponent remains loss making.
CDXS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $19.3M | +124% |
| Q2 2026 | $14.9M | -2.7% |
| Q1 2026 | $15.2M | +102% |
| Q4 2025 | $38.9M | +81% |
| Q3 2025 | $8.6M | -33% |
| Q2 2025 | $15.3M | +92% |
| Q1 2025 | $7.5M | -56% |
| Q4 2024 | $21.5M | -19% |
CDXS's revenue is growing: $19M last quarter, up 124% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -39% | +182 points |
| Q2 2026 | -75% | +8.6 points |
| Q1 2026 | -53% | +219 points |
| Q4 2025 | 27% | +61 points |
| Q3 2025 | -220% | -91 points |
| Q2 2025 | -84% | +201 points |
| Q1 2025 | -272% | -202 points |
| Q4 2024 | -34% | -35 points |
CDXS's operating margin was −39% last quarter, up 182 points from the same quarter a year ago.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY has the edge over CDXS on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over CDXS on profitability, with a higher operating margin.
CDXS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$7.8M | +$40K |
| Q2 2026 | -$10.5M | +$9.9M |
| Q1 2026 | -$13.3M | +$1.7M |
| Q4 2025 | $19.6M | +$37.8M |
| Q3 2025 | -$7.9M | +$6.1M |
| Q2 2025 | -$20.5M | -$7.9M |
| Q1 2025 | -$15.1M | -$6.1M |
| Q4 2024 | -$18.2M | -$7.6M |
CDXS has burned cash in almost every quarter: −$12M over the past year, against −$62M the year before.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY has the edge over CDXS on cash generation, producing positive trailing cash flow while its opponent burns cash.
CDXS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +18% | +16.2M shares |
| 1 year | +19% | +17M shares |
| 3 years | +54% | +37.8M shares |
| 5 years | +58% | +39.5M shares |
| Available history | +90% | +50.7M shares |
CDXS has 107M diluted shares, up 19% from a year ago.
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has the edge over CDXS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
CDXS Net Leverage
CDXS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY's net debt is about 1.2 years of its operating earnings (EBITDA), about the same as a year ago.
CDXS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.5 | Neutral |
| Stochastic | 7.2 | Oversold |
CDXS's weekly RSI is 30 (neutral) and its Stochastic is 7 (oversold).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
CDXS PE vs Healthcare Sector
CDXS has no meaningful PE right now: it lost money over the past year.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY is trading at 46x earnings, a 79% premium to the Healthcare sector's median of 26x.
CDXS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.23 | 22% below |
| 20 week MA | $1.52 | 37% below |
| 50 week MA | $1.76 | 45% below |
| 100 week MA | $2.35 | 59% below |
| 200 week MA | $2.79 | 66% below |
CDXS is in a downtrend: it's below all five of its weekly moving averages, and 66% below its 200-week average.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY has the edge over CDXS on trend strength, trading above more of its moving averages.
CDXS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.1 | $22.7 | +33% |
| 2021 | $22.7 | $33.4 | +47% |
| 2022 | $33.4 | $4.43 | -87% |
| 2023 | $4.43 | $3.05 | -31% |
| 2024 | $3.05 | $4.99 | +64% |
| 2025 | $4.99 | $1.63 | -67% |
| 2026 YTD | $1.63 | $0.96 | -41% |
CDXS has finished lower in three of the last six years. It's down 41% so far in 2026.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has the edge over CDXS on returns for 2026, with the stronger performance.