CDZI vs AIRJ vs BMI Stock Comparison

Cadiz, AirJoule Technologies and Badger Meter Prices as of Oct 27, 2026 Peers: Industry group
CDZI Cadiz Inc
$4.65 +27.4% 1M -15.0% 1Y
Market cap
$391.35M
P/E
–
Revenue (TTM)
$14.34M
Div. yield
–
Water Treatment Industrials
1 win
BMI Badger Meter Inc
$151.82 +17.1% 1M -17.1% 1Y
Market cap
$4.34B
P/E
34.5x
Revenue (TTM)
$881.24M
Div. yield
1.08%
Water Treatment Industrials
6 wins

Head to Head

7 decided of 12

Badger Meter leads on 6 of the 12 questions below (Badger Meter 6, Cadiz 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionCDZIAIRJBMILeader
Larger companyMarket capitalisation $391.35M $214.17M $4.34B BMI
Cheaper on earningsLower P/E, profitable companies only -9.5x -2.4x 34.5x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — — 32.1x –
Faster revenue growthRevenue growth, trailing twelve months -4.8% — -2.2% BMI
More profitableNet margin, trailing twelve months -286.1% — 14.4% BMI
Better return on capitalReturn on invested capital — — — –
Less leveragedLower net debt / EBITDA — — — –
Higher dividend yieldTrailing dividend yield — — 1.08% –
Better 1-year returnPrice return, last 12 months -15.0% -44.4% -17.1% CDZI
Better 5-year returnAnnualised price return, 5 years -5.6%/yr — +8.3%/yr BMI
Less volatileAnnualised volatility, 1 year 66.8% 85.0% 49.5% BMI
Higher overall scoreMean of the five percentile scores vs peers 25/100 41/100 70/100 BMI

Percentile Scorecard

CDZIAIRJBMI

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

AxisCDZIAIRJBMI
Valuation 20 #17 of 21 50 #11 of 21 55 #10 of 21
Growth 39 #12 of 19 6 #18 of 19 61 #8 of 19
Profitability 19 #14 of 17 44 #10 of 17 94 #2 of 17
Financial Health 24 #17 of 22 95 #2 of 22 62 #9 of 22
Shareholder Returns – 11 #9 of 10 78 #3 of 10
Overall 25 41 70
  • CDZI ranked among 22 companies in Environmental Equipment
  • AIRJ ranked among 22 companies in Environmental Equipment
  • BMI ranked among 22 companies in Environmental Equipment

Price Performance

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

Returns

PeriodCDZIAIRJBMISPY
1 month +27.4%-28.6%+17.1% -0.2%
3 months +51.0%-32.6%+12.8% +3.9%
6 months +5.0%-7.0%+28.2% +8.2%
Year to date -17.1%-25.9%-13.0% +12.9%
1 year -15.0%-44.4%-17.1% +12.3%
3 years +68.5%-72.7%+10.1% +87.4%
3 years, per year +19.0%-35.1%+3.3% +23.3%
5 years -25.1%—+48.8% +67.9%
5 years, per year -5.6%—+8.3% +10.9%
10 years -36.3%—+381.5% +261.1%
10 years, per year -4.4%—+17.0% +13.7%

Risk

MeasureCDZIAIRJBMISPY
Volatility, 1Y 66.8%85.0%49.5% 12.7%
Downside volatility, 1Y 64.5%75.0%55.9% 12.7%
Beta vs S&P 500, 1Y 1.452.570.67 1.00
Return / volatility, 1Y -0.22-0.52-0.35 0.97
Max drawdown, 5Y -75.0%-91.4%-55.4% -25.4%
From 52-week high -32.8%-54.4%-19.2% -1.2%
52-week high $6.92$6.40$187.87 $779.14
52-week low $2.98$2.51$113.41 $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.

MultipleCDZIAIRJBMI
P/E now vs peer median -9.5xmedian 25.6x -2.4xmedian 25.6x 34.5xmedian 25.6x
P/S now vs peer median 27.3xmedian 2.4x —median 2.4x 4.9xmedian 2.4x
EV/EBITDA now vs peer median —median 16.7x -12.4xmedian 16.7x 21.0xmedian 16.7x
P/FCF now vs peer median —median 23.6x -29.5xmedian 23.6x 30.5xmedian 23.6x
P/B now vs peer median 83.9xmedian 2.0x 0.9xmedian 2.0x 6.7xmedian 2.0x
PEG now vs peer median 2.27median 1.68 0.01median 1.68 2.33median 1.68

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 monthsCDZIAIRJBMI
Revenue $14.34M – $881.24M
Gross profit $4.25M – $366.94M
Operating income -$26.90M -$13.96M $165.34M
Net income -$35.98M -$84.79M $126.53M
Free cash flow – -$7.26M $142.39M
R&D – $607.33K –
EPS (diluted) $-1,199.69 $-1.22 $4.38
Cash & equivalents $5.32M $41.42M $67.93M
Total debt $278.50M – –
Shares (diluted) 34.19K 69.74M 28.87M
Enterprise value $359.80M $93.80M $3.74B

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
MetricCDZIAIRJBMI
P/E -9.5x -2.4x 34.5x
P/FCF – -29.5x 30.5x
P/Operating cash flow – -29.6x 27.3x
P/S 27.3x – 4.9x
P/B 83.9x 0.9x 6.7x
P/Tangible book 83.9x -0.8x 8.8x
EV/EBITDA – -12.4x 21.0x
EV/EBIT -17.6x -12.4x 25.8x
EV/Revenue 33.0x – 4.8x
EV/FCF – -23.8x 30.0x
EV/Operating cash flow – -23.9x 26.9x
PEG (3Y EPS CAGR) 2.27 0.01 2.33

Growth

14 metrics
MetricCDZIAIRJBMI
Revenue growth (1Y) -4.8% – -2.2%
Revenue CAGR (3Y) 89.3% – 9.6%
Gross profit growth (1Y) -12.7% – -1.3%
Gross profit CAGR (3Y) 97.5% – 11.9%
Operating income growth (1Y) -8.9% -11.3% -7.9%
Operating income CAGR (3Y) -12.0% -46.4% 15.1%
Net income growth (1Y) -9.9% -322.5% -8.8%
Net income CAGR (3Y) -4.9% -288.6% 14.0%
EPS growth (1Y) -8.4% -292.0% -6.6%
EPS CAGR (3Y) -4.2% -176.6% 14.8%
Operating cash flow growth (1Y) – 18.3% -12.3%
Operating cash flow CAGR (3Y) – -47.2% 15.9%
Free cash flow growth (1Y) – 18.2% -14.4%
Free cash flow CAGR (3Y) – -47.4% 16.2%

Profitability

14 metrics
MetricCDZIAIRJBMI
Gross margin 29.6% – 41.6%
EBITDA margin – – 23.1%
Operating margin -187.6% – 18.8%
Pretax margin -250.5% – 19.1%
Net margin -286.1% – 14.4%
FCF margin – – 16.2%
Operating cash flow margin – – 18.0%
Return on equity -257.3% -34.6% 19.0%
Return on assets -26.1% -28.1% 13.0%
Return on invested capital – – –
Return on capital employed -21.0% -4.7% 20.1%
Asset turnover 0.1x – 0.9x
Cash conversion (OCF / net income) – 0.1x 1.3x
Stock comp / revenue – – 1.2%

Financial Health

11 metrics
MetricCDZIAIRJBMI
Debt / assets 64.5% – –
Debt / equity 18.6x – –
Net debt / EBITDA – – –
Debt / FCF – – –
Liabilities / assets 96.5% 19.0% 31.0%
Equity / assets 3.5% 81.0% 69.0%
Interest coverage -2.9x – –
Current ratio 1.2x 19.7x 2.5x
Quick ratio 0.9x 18.9x 1.2x
Cash ratio 0.5x 18.9x 0.5x
Altman Z-score -6.13 – 11.73

Shareholder Returns

7 metrics
MetricCDZIAIRJBMI
Dividend yield – – 1.1%
Net buyback yield – -17.0% 2.7%
Shareholder yield – -17.0% 3.8%
Payout ratio (earnings) – – 37.7%
Payout ratio (FCF) – – 33.5%
Dividend growth (1Y) – – 14.1%
Dividend CAGR (3Y) – – 19.8%

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.

ConsensusCDZIAIRJBMI
Forward P/E – – 32.1xFY2026
EPS, next fiscal year $-0.54FY2026 $-1.05FY2026 $4.73FY2026
EPS growth, next FY – – -1.3%FY2026
EPS growth, the year after – – +10.4%
Revenue, next fiscal year $8.61MFY2026 $168.27KFY2026 $930.20MFY2026
Revenue growth, next FY -47.2%FY2026 +205.9%FY2026 +1.5%FY2026
Revenue growth, the year after +109.5% +3,073.8% +10.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersCDZIAIRJBMI
Held by institutions 46.7% 24.6% 100.0%
Institutions holding 117 119 479
Change in shares held, QoQ +4.0% +8.4% +7.9%
Institutions buying 54 84 254
Institutions selling 39 19 157
Buyers to sellers 1.38 4.42 1.62

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.

CDZIAIRJBMI
CDZI 1.00 0.25 0.10
AIRJ 0.25 1.00 0.04
BMI 0.10 0.04 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, CDZI, AIRJ and BMI?

Badger Meter (BMI) is the largest by market capitalisation: Cadiz (CDZI) $391.35M, AirJoule Technologies (AIRJ) $214.17M, Badger Meter (BMI) $4.34B.

Which company is growing faster?

Badger Meter (BMI) grew revenue fastest over the trailing twelve months: Cadiz (CDZI) -4.8%, Badger Meter (BMI) -2.2%.

Which company is more profitable?

Badger Meter (BMI) has the highest net margin (Cadiz (CDZI) -286.1%, Badger Meter (BMI) 14.4%).

Which stock has performed better?

Over the past year Cadiz (CDZI) returned the most: Cadiz (CDZI) -15.0%, AirJoule Technologies (AIRJ) -44.4%, Badger Meter (BMI) -17.1%. Over five years, Badger Meter (BMI) compounded fastest (Cadiz (CDZI) -5.6%/yr, Badger Meter (BMI) +8.3%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Badger Meter (BMI) 1.08%. Cadiz (CDZI) and AirJoule Technologies (AIRJ) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Badger Meter (BMI) has been the steadiest (Cadiz (CDZI) 66.8%, AirJoule Technologies (AIRJ) 85.0%, Badger Meter (BMI) 49.5%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, CDZI, AIRJ and BMI?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Badger Meter (BMI) leads on 6. 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.