CODA
Coda Octopus Group, Inc.
Next earnings Sep 14, 2026 · consensus $0.12 EPS, $7.54M rev
$9.62
▲ +0.73%$9.62▲ +19.65%
over 1Y
L $7.05H $16.76
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+0.7%
1W+2.0%
1M-25.6%
3M-19.1%
YTD+1.2%
1Y+19.7%
Hold
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 7 analysts
Buy
Fortress balance sheet and 70% gross margins, but five years of flat revenue make 25.8x earnings a full price — own, don't chase.
P/E (price / FY diluted EPS $0.37) 25.8 · FY2025 EPS
The read
Fundamentals and price both look middling — no strong edge either way.
Coda Octopus is a high-quality, debt-free niche operator in underwater 3D sonar (Echoscope), diver navigation (DAVD), and now acoustic sensors/materials via the October 2024 PAL acquisition. The quality shows up in the numbers: 69.8% gross margin, 17.6% operating and 17.9% net margin, and a near-pristine balance sheet — $53.1M equity against just $4.42M of total liabilities (0.08x), with $22.5M cash (~21% of the $108M market cap). Operating income grew a healthy +30.8% and diluted EPS +15.6%. This is not a company at risk of failing.
The problem is growth and price. Revenue has gone essentially nowhere for five years — $20.0M (FY2020) → $22.2M (FY2022) → $19.4M (FY2023) → $20.3M (FY2024) — and FY2024 net income of $3.65M still sits below FY2021's $4.95M. So you are paying 25.8x earnings and 5.3x sales for a business whose top line compounds at roughly mid-single digits and whose earnings are below their prior peak. The 6.9% ROE underlines the issue: the company is over-capitalized, sitting on idle cash rather than redeploying it into growth or returns, which structurally caps the return on the equity you'd be buying.
Is CODA a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~90d expiry
- Long 100 shares @ ~9.62
- Short call 10 @ ~1.26 est
debit $836max +$164max −$835BE 8.36
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $21.3M | $22.2M | $19.4M | $20.3M | — |
| Gross profit | $14.8M | $15.2M | $13.0M | $14.2M | — |
| Operating income | $3.84M | $5.00M | $2.74M | $3.58M | — |
| Net income | $4.95M | $4.30M | $3.12M | $3.65M | — |
| Diluted EPS | $0.44 | $0.38 | $0.28 | $0.32 | $0.37 |
| Net margin | 23.2% | 19.4% | 16.1% | 17.9% | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$86.6M
EV / EBITDA20.2
EV / Sales4.3
EV / FCF44.4
P / FCF55.7
PEG (trailing)1.56
Earnings yield3.4%
FCF yield1.8%
Quality & risk
ROIC (est.)5.3%
Free cash flow$1.95M
Total debt$573K
Net cash$21.9M
Altman Z-Score15.94 safe
Piotroski F-Score5/9
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+0.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 10-Q Quarterly report2026-06-15
Q2 FY26 (Apr 30) results filed; ongoing profitability across three segments
- S-3 Shelf registration (potential raise)2026-03-19
Shelf registration filed; enables future equity/debt raises, potential dilution
- 10-Q Quarterly report2026-03-17
Q1 FY26 (Jan 31) results filed; quarterly update
- 10-K/A Restated periodic report2026-02-26
FY25 10-K amended (Part III/proxy info); no financial restatement
- 10-K Annual report2026-01-29
FY25 diluted EPS $0.37 (+16%); PAL acquisition adds acoustic-sensor segment
- 8-K Shareholder vote2025-09-16
Annual meeting vote results disclosed; routine director and auditor approvals
- 10-Q Quarterly report2025-09-15
Q3 FY25 results filed; quarterly update
- DEF 14A Proxy statement2025-08-14
Proxy for annual meeting; director elections and say-on-pay
- 8-K Officer / director change2025-07-18
Officer/director change announced (Item 5.02); leadership transition
Recent filings
all on EDGAR ↗4Period ending 2026-05-282026-06-24open ↗10-QPeriod ending 2026-04-302026-06-15open ↗4Period ending 2026-03-112026-04-20open ↗4Period ending 2026-03-192026-04-10open ↗SCHEDULE 13G/AFiling2026-04-07open ↗424B3Filing2026-04-01open ↗EFFECTFiling2026-03-30open ↗CORRESPFiling2026-03-26open ↗UPLOADFiling2026-03-26open ↗S-3Filing2026-03-19open ↗10-QPeriod ending 2026-01-312026-03-17open ↗10-K/APeriod ending 2025-10-312026-02-26open ↗
Frequently asked
- Is Coda Octopus Group, Inc. (CODA) a buy?
- CODA currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Fortress balance sheet and 70% gross margins, but five years of flat revenue make 25.8x earnings a full price — own, don't chase.
- What is CODA's fair value?
- A Modified-Graham model based on CODA's SEC fundamentals estimates a fair value of about $8.25. It is an estimate from reported earnings, not a price target.
- Is CODA overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, CODA currently appears fairly valued relative to its SEC-grounded earnings power.
- What is Coda Octopus Group, Inc.'s quality score?
- CODA scores 65.77237469512907/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001334325, latest 10-Q filed 2026-06-15) · EODHD · Proprietary analysis · as of 6/30/2026, 11:50:35 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 30, 2026, 7:50 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.