CDXS vs QGEN Stock Comparison

Codexis and Qiagen Prices as of Oct 26, 2026 Peers: Industry group
CDXS Codexis, Inc.
$1.30 -1.5% 1M -51.9% 1Y
Market cap
$118.82M
P/E
–
Revenue (TTM)
$77.68M
Div. yield
–
Life Sciences Tools Healthcare
2 wins
QGEN Qiagen N.V.
$50.37 +14.0% 1M -3.0% 1Y
Market cap
$10.93B
P/E
26.7x
Revenue (TTM)
$2.10B
Div. yield
–
Life Sciences Tools Healthcare
7 wins

Head to Head

9 decided of 12

Qiagen leads on 7 of the 12 questions below (Qiagen 7, Codexis 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionCDXSQGENLeader
Larger companyMarket capitalisation $118.82M $10.93B QGEN
Cheaper on earningsLower P/E, profitable companies only -3.9x 26.7x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 21.4x –
Faster revenue growthRevenue growth, trailing twelve months +35.9% +3.0% CDXS
More profitableNet margin, trailing twelve months -39.6% 19.5% QGEN
Better return on capitalReturn on invested capital -35.1% 7.9% QGEN
Less leveragedLower net debt / EBITDA 0.7x 1.3x CDXS
Higher dividend yieldTrailing dividend yield 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -51.9% -3.0% QGEN
Better 5-year returnAnnualised price return, 5 years -47.8%/yr -3.3%/yr QGEN
Less volatileAnnualised volatility, 1 year 86.8% 35.8% QGEN
Higher overall scoreMean of the five percentile scores vs peers 44/100 71/100 QGEN

Percentile Scorecard

CDXSQGEN

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisCDXSQGEN
Valuation 40 #138 of 228 76 #56 of 228
Growth 67 #74 of 221 30 #155 of 221
Profitability 43 #119 of 208 92 #17 of 208
Financial Health 30 #167 of 239 63 #90 of 239
Shareholder Returns 43 #79 of 137 94 #9 of 137
Overall 44 71
  • CDXS ranked among 248 companies in Medical Devices and Diagnostics
  • QGEN ranked among 248 companies in Medical Devices and Diagnostics

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodCDXSQGENSPY
1 month -1.5%+14.0% -0.8%
3 months -16.1%+22.6% +3.5%
6 months -50.9%+32.2% +7.0%
Year to date -20.2%+6.4% +12.2%
1 year -51.9%-3.0% +13.0%
3 years -16.1%+25.0% +86.3%
3 years, per year -5.7%+7.7% +23.1%
5 years -96.1%-15.6% +68.6%
5 years, per year -47.8%-3.3% +11.0%
10 years -70.5%+75.9% +258.0%
10 years, per year -11.5%+5.8% +13.6%

Risk

MeasureCDXSQGENSPY
Volatility, 1Y 86.8%35.8% 12.7%
Downside volatility, 1Y 91.4%30.5% 12.7%
Beta vs S&P 500, 1Y 1.860.47 1.00
Return / volatility, 1Y -0.60-0.08 1.02
Max drawdown, 5Y -97.7%-48.2% -25.4%
From 52-week high -54.4%-9.5% -1.8%
52-week high $2.85$55.66 $779.14
52-week low $0.98$32.63 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleCDXSQGEN
P/E now vs peer median -3.9xmedian 30.6x 26.7xmedian 30.6x
P/S now vs peer median 1.5xmedian 3.0x 5.2xmedian 3.0x
EV/EBITDA now vs peer median -5.0xmedian 17.5x 18.1xmedian 17.5x
P/FCF now vs peer median -9.8xmedian 23.3x 11.0xmedian 23.3x
P/B now vs peer median 3.6xmedian 2.4x 3.3xmedian 2.4x
PEG now vs peer median -0.15median 0.87 3.62median 0.87

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsCDXSQGEN
Revenue $77.68M $2.10B
Gross profit $67.60M $1.31B
Operating income -$27.66M $445.43M
Net income -$30.72M $409.32M
Free cash flow -$12.18M $991.33M
R&D $48.74M $194.67M
EPS (diluted) $-0.34 $1.87
Cash & equivalents $27.17M $768.50M
Total debt $40.88M $6.86B
Shares (diluted) 91.05M 218.88M
Enterprise value -$138.22M $6.70B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricCDXSQGEN
P/E -3.9x 26.7x
P/FCF -9.8x 11.0x
P/Operating cash flow -11.4x 16.7x
P/S 1.5x 5.2x
P/B 3.6x 3.3x
P/Tangible book 3.6x 3.6x
EV/EBITDA -5.0x 18.1x
EV/EBIT -3.8x 26.4x
EV/Revenue 1.3x 5.6x
EV/FCF -8.6x 11.9x
EV/Operating cash flow -10.1x 18.0x
PEG (3Y EPS CAGR) -0.15 3.62

Growth

14 metrics
MetricCDXSQGEN
Revenue growth (1Y) 35.9% 3.0%
Revenue CAGR (3Y) -7.8% 2.0%
Gross profit growth (1Y) 52.4% 1.7%
Gross profit CAGR (3Y) -2.6% 1.3%
Operating income growth (1Y) 51.7% -4.9%
Operating income CAGR (3Y) 22.8% 3.3%
Net income growth (1Y) 52.7% 143.9%
Net income CAGR (3Y) 18.5% 6.7%
EPS growth (1Y) 55.7% 12.5%
EPS CAGR (3Y) 26.2% 7.4%
Operating cash flow growth (1Y) 83.0% -3.0%
Operating cash flow CAGR (3Y) -152.3% 8.0%
Free cash flow growth (1Y) 82.0% 2.3%
Free cash flow CAGR (3Y) -26.3% 10.5%

Profitability

14 metrics
MetricCDXSQGEN
Gross margin 87.0% 62.2%
EBITDA margin -27.0% 31.0%
Operating margin -35.6% 21.2%
Pretax margin -39.5% 22.0%
Net margin -39.6% 19.5%
FCF margin -15.7% 47.2%
Operating cash flow margin -13.4% 31.2%
Return on equity -80.6% 12.2%
Return on assets -24.6% 7.0%
Return on invested capital -35.1% 7.9%
Return on capital employed -27.3% 8.5%
Asset turnover 0.6x 0.4x
Cash conversion (OCF / net income) 0.3x 1.6x
Stock comp / revenue 9.9% 2.1%

Financial Health

11 metrics
MetricCDXSQGEN
Debt / assets 34.0% 27.9%
Debt / equity 1.2x 0.5x
Net debt / EBITDA 0.7x 1.3x
Debt / FCF -3.4x 1.7x
Liabilities / assets 72.5% 43.0%
Equity / assets 27.5% 57.0%
Interest coverage – 11.3x
Current ratio 3.1x 2.8x
Quick ratio 2.9x 2.0x
Cash ratio 2.3x 1.4x
Altman Z-score -6.13 4.08

Shareholder Returns

7 metrics
MetricCDXSQGEN
Dividend yield – 5.2%
Net buyback yield -0.3% 0.6%
Shareholder yield -0.3% 5.8%
Payout ratio (earnings) – –
Payout ratio (FCF) – –
Dividend growth (1Y) – –
Dividend CAGR (3Y) – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusCDXSQGEN
Forward P/E – 21.4xFY2026
EPS, next fiscal year $-0.37FY2026 $2.35FY2026
EPS growth, next FY – -1.3%FY2026
EPS growth, the year after – +17.4%
Revenue, next fiscal year $77.93MFY2026 $2.25BFY2026
Revenue growth, next FY +10.7%FY2026 +7.8%FY2026
Revenue growth, the year after +9.2% -2.8%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersCDXSQGEN
Held by institutions 71.0% 67.3%
Institutions holding 148 337
Change in shares held, QoQ -2.4% +16.5%
Institutions buying 88 215
Institutions selling 36 86
Buyers to sellers 2.44 2.50

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

CDXSQGEN
CDXS 1.00 0.00
QGEN 0.00 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, CDXS and QGEN?

Qiagen (QGEN) is the largest by market capitalisation: Codexis (CDXS) $118.82M, Qiagen (QGEN) $10.93B.

Which company is growing faster?

Codexis (CDXS) grew revenue fastest over the trailing twelve months: Codexis (CDXS) +35.9%, Qiagen (QGEN) +3.0%.

Which company is more profitable?

Qiagen (QGEN) has the highest net margin (Codexis (CDXS) -39.6%, Qiagen (QGEN) 19.5%). On return on invested capital, Qiagen (QGEN) leads (Codexis (CDXS) -35.1%, Qiagen (QGEN) 7.9%).

Which stock has performed better?

Over the past year Qiagen (QGEN) returned the most: Codexis (CDXS) -51.9%, Qiagen (QGEN) -3.0%. Over five years, Qiagen (QGEN) compounded fastest (Codexis (CDXS) -47.8%/yr, Qiagen (QGEN) -3.3%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Qiagen (QGEN) has been the steadiest (Codexis (CDXS) 86.8%, Qiagen (QGEN) 35.8%). Volatility measures how widely the price swings, not the risk of the business.

Do CDXS and QGEN move together?

Their daily returns over the past year have a correlation of -0.00, a negative relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, CDXS and QGEN?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Qiagen (QGEN) leads on 7. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.