CDXS vs TMO Stock Comparison

Codexis and Thermo Fisher Scientific Prices as of Oct 26, 2026 Peers: Industry group
CDXS Codexis, Inc.
$1.30 -1.5% 1M -51.9% 1Y
Market cap
$115.64M
P/E
–
Revenue (TTM)
$77.68M
Div. yield
–
Life Sciences Tools Healthcare
1 win

Head to Head

6 decided of 12

Thermo Fisher Scientific leads on 5 of the 12 questions below (Thermo Fisher Scientific 5, Codexis 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionCDXSTMOLeader
Larger companyMarket capitalisation $115.64M $257.69B TMO
Cheaper on earningsLower P/E, profitable companies only -3.8x 36.4x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 26.4x –
Faster revenue growthRevenue growth, trailing twelve months +35.9% +8.3% CDXS
More profitableNet margin, trailing twelve months -39.6% — –
Better return on capitalReturn on invested capital -35.1% — –
Less leveragedLower net debt / EBITDA 0.7x — –
Higher dividend yieldTrailing dividend yield 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -51.9% +19.6% TMO
Better 5-year returnAnnualised price return, 5 years -47.8%/yr +2.3%/yr TMO
Less volatileAnnualised volatility, 1 year 86.8% 29.9% TMO
Higher overall scoreMean of the five percentile scores vs peers 44/100 51/100 TMO

Percentile Scorecard

CDXSTMO

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

AxisCDXSTMO
Valuation 40 #138 of 228 49 #116 of 228
Growth 67 #74 of 221 40 #133 of 221
Profitability 43 #119 of 208 70 #63 of 208
Financial Health 30 #167 of 239 –
Shareholder Returns 43 #79 of 137 44 #77 of 137
Overall 44 51
  • CDXS ranked among 248 companies in Medical Devices and Diagnostics
  • TMO 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

PeriodCDXSTMOSPY
1 month -1.5%+1.7% -0.8%
3 months -16.1%+22.4% +3.5%
6 months -50.9%+46.3% +7.0%
Year to date -20.2%+18.2% +12.2%
1 year -51.9%+19.6% +13.0%
3 years -16.1%+58.7% +86.3%
3 years, per year -5.7%+16.7% +23.1%
5 years -96.1%+11.8% +68.6%
5 years, per year -47.8%+2.3% +11.0%
10 years -70.5%+362.6% +258.0%
10 years, per year -11.5%+16.6% +13.6%

Risk

MeasureCDXSTMOSPY
Volatility, 1Y 86.8%29.9% 12.7%
Downside volatility, 1Y 91.4%28.3% 12.7%
Beta vs S&P 500, 1Y 1.860.62 1.00
Return / volatility, 1Y -0.600.66 1.02
Max drawdown, 5Y -97.7%-41.5% -25.4%
From 52-week high -54.4%-1.7% -1.8%
52-week high $2.85$696.55 $779.14
52-week low $0.98$438.34 $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.

MultipleCDXSTMO
P/E now vs peer median -3.9xmedian 30.6x 35.9xmedian 30.6x
P/S now vs peer median 1.5xmedian 3.0x 5.3xmedian 3.0x
EV/EBITDA now vs peer median -5.0xmedian 17.5x —median 17.5x
P/FCF now vs peer median -9.8xmedian 23.3x 34.0xmedian 23.3x
P/B now vs peer median 3.6xmedian 2.4x 4.6xmedian 2.4x
PEG now vs peer median -0.15median 0.87 4.74median 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 monthsCDXSTMO
Revenue $77.68M $47.35B
Gross profit $67.60M –
Operating income -$27.66M $8.47B
Net income -$30.72M $7.09B
Free cash flow -$12.18M –
R&D $48.74M $1.40B
EPS (diluted) $-0.34 $19.06
Cash & equivalents $27.17M $5.46B
Total debt $40.88M –
Shares (diluted) 91.05M 371.00M
Enterprise value -$141.41M $257.69B

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
MetricCDXSTMO
P/E -3.9x 35.9x
P/FCF -9.8x 34.0x
P/Operating cash flow -11.4x 27.2x
P/S 1.5x 5.3x
P/B 3.6x 4.6x
P/Tangible book 3.6x 6.9x
EV/EBITDA -5.0x –
EV/EBIT -3.8x –
EV/Revenue 1.3x 5.3x
EV/FCF -8.6x –
EV/Operating cash flow -10.1x 27.2x
PEG (3Y EPS CAGR) -0.15 4.74

Growth

14 metrics
MetricCDXSTMO
Revenue growth (1Y) 35.9% 8.3%
Revenue CAGR (3Y) -7.8% 2.9%
Gross profit growth (1Y) 52.4% –
Gross profit CAGR (3Y) -2.6% –
Operating income growth (1Y) 51.7% 12.8%
Operating income CAGR (3Y) 22.8% 7.2%
Net income growth (1Y) 52.7% 7.9%
Net income CAGR (3Y) 18.5% 6.2%
EPS growth (1Y) 55.7% 9.7%
EPS CAGR (3Y) 26.2% 7.6%
Operating cash flow growth (1Y) 83.0% 21.9%
Operating cash flow CAGR (3Y) -152.3% 4.5%
Free cash flow growth (1Y) 82.0% –
Free cash flow CAGR (3Y) -26.3% –

Profitability

14 metrics
MetricCDXSTMO
Gross margin 87.0% –
EBITDA margin -27.0% –
Operating margin -35.6% –
Pretax margin -39.5% –
Net margin -39.6% –
FCF margin -15.7% –
Operating cash flow margin -13.4% 19.7%
Return on equity -80.6% 13.2%
Return on assets -24.6% 6.2%
Return on invested capital -35.1% –
Return on capital employed -27.3% –
Asset turnover 0.6x 0.4x
Cash conversion (OCF / net income) 0.3x 1.3x
Stock comp / revenue 9.9% –

Financial Health

11 metrics
MetricCDXSTMO
Debt / assets 34.0% –
Debt / equity 1.2x –
Net debt / EBITDA 0.7x –
Debt / FCF -3.4x –
Liabilities / assets 72.5% –
Equity / assets 27.5% 47.9%
Interest coverage – –
Current ratio 3.1x 1.8x
Quick ratio 2.9x –
Cash ratio 2.3x –
Altman Z-score -6.13 –

Shareholder Returns

7 metrics
MetricCDXSTMO
Dividend yield – 0.3%
Net buyback yield -0.3% –
Shareholder yield -0.3% 0.3%
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.

ConsensusCDXSTMO
Forward P/E – 26.4xFY2026
EPS, next fiscal year $-0.37FY2026 $25.91FY2026
EPS growth, next FY – +13.3%FY2026
EPS growth, the year after – +2.0%
Revenue, next fiscal year $77.93MFY2026 $50.12BFY2026
Revenue growth, next FY +10.7%FY2026 +12.5%FY2026
Revenue growth, the year after +9.2% -2.8%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersCDXSTMO
Held by institutions 71.0% 90.2%
Institutions holding 148 2,621
Change in shares held, QoQ -2.4% +0.8%
Institutions buying 88 1,141
Institutions selling 36 1,144
Buyers to sellers 2.44 1.00

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.

CDXSTMO
CDXS 1.00 0.07
TMO 0.07 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, CDXS and TMO?

Thermo Fisher Scientific (TMO) is the largest by market capitalisation: Codexis (CDXS) $115.64M, Thermo Fisher Scientific (TMO) $257.69B.

Which company is growing faster?

Codexis (CDXS) grew revenue fastest over the trailing twelve months: Codexis (CDXS) +35.9%, Thermo Fisher Scientific (TMO) +8.3%.

Which stock has performed better?

Over the past year Thermo Fisher Scientific (TMO) returned the most: Codexis (CDXS) -51.9%, Thermo Fisher Scientific (TMO) +19.6%. Over five years, Thermo Fisher Scientific (TMO) compounded fastest (Codexis (CDXS) -47.8%/yr, Thermo Fisher Scientific (TMO) +2.3%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Thermo Fisher Scientific (TMO) has been the steadiest (Codexis (CDXS) 86.8%, Thermo Fisher Scientific (TMO) 29.9%). Volatility measures how widely the price swings, not the risk of the business.

Do CDXS and TMO move together?

Their daily returns over the past year have a correlation of 0.07, a weak relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, CDXS and TMO?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Thermo Fisher Scientific (TMO) leads on 5. 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.