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CYAN · OTC · United States · Medicinal Chemicals & Botanical Products
In shortCYANOTECH CORP is loss-making, burns cash and carries moderate debt, with revenue growing (+5.0% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -10.4% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -13.2% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -30.9% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -12.0% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.03× | 19/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.86× | 63/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -3.65× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -3.62 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -5.9% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 2 of 5 | 25/100 |
Weight in the score: 20%
| Profitable years (last 5) | 2 of 5 | 40/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 18.4% | 43/100 |
| Operating margin volatility | 10.7% | 11/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -12.4% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 32 | 36 | 23 | 23 | 24 |
| Cost of revenue | 21 | 22 | 16 | 17 | 17 |
| Gross profit | 11 | 14 | 7.3 | 5.9 | 6.9 |
| Research & development | 0.6 | 0.7 | 0.8 | 0.7 | 0.4 |
| Operating income | 0.1 | 2.6 | (2.9) | (4.6) | (2.5) |
| Interest expense | 0.6 | 0.4 | 0.5 | 0.7 | 0.7 |
| Pre-tax income | 0.9 | 2.2 | (3.4) | (5.3) | (3.2) |
| Income tax | 0 | 0 | 0 | 0 | 0 |
| Net income | 0.9 | 2.2 | (3.4) | (5.3) | (3.2) |
| Diluted EPS | $0.15 | $0.35 | −$0.55 | −$0.81 | – |
| Diluted shares (millions) | 6.1 | 0 | 0 | 0 | – |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
−3.62 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Sep 30, 2025 · Data updated Nov 10, 2025