Company Valuation: Cyanotech Corporation

Data adjusted to current consolidation scope
Fiscal Period: March 2020 2021 2022 2023 2024 2025
Market Cap 1 12.21 20.12 20.87 5.501 2.022 2.52
Change - 64.72% 3.75% -73.65% -63.25% 24.65%
Enterprise Value (EV) 1 22.37 26.9 26.89 15.69 12.22 13.83
Change - 20.26% -0.05% -41.64% -22.15% 13.16%
P/E 34.3x 22x 9.63x -1.59x -0.36x -0.77x
PBR 0.78x 1.18x 1.07x 0.34x 0.17x 0.28x
PEG - 0x 0x 0x -0x 0x
Capitalization / Revenue 0.38x 0.62x 0.58x 0.24x 0.09x 0.1x
EV / Revenue 0.7x 0.83x 0.75x 0.68x 0.53x 0.57x
EV / EBITDA 7.29x 13.2x 6.36x -13.8x -4.35x -15.5x
EV / EBIT 21.2x 139x 10.4x -5.55x -2.79x -5.77x
EV / FCF 19.9x 11.7x 35.3x -12.4x 7.15x 62.5x
FCF Yield 5.02% 8.55% 2.84% -8.05% 14% 1.6%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.06 0.15 0.3498 -0.5509 -0.81 -0.453
Distribution rate - - - - - -
Net sales 1 31.9 32.34 35.97 23.18 23.07 24.22
EBITDA 1 3.067 2.032 4.23 -1.135 -2.81 -0.892
EBIT 1 1.053 0.194 2.574 -2.83 -4.386 -2.396
Net income 1 0.387 0.92 2.154 -3.44 -5.267 -3.203
Net Debt 1 10.16 6.784 6.016 10.19 10.2 11.31
Reference price 2 2.0600 3.3000 3.3700 0.8771 0.2910 0.3500
Nbr of stocks (in thousands) 5,929 6,097 6,194 6,272 6,947 7,200
Announcement Date 6/23/20 6/22/21 6/22/22 6/27/23 6/26/24 6/20/25
1USD in Million2USD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 3.26M
33.86x12.29x24.9x0.58% 1,060B
30.03x - - 1.99% 651B
33.56x7.77x16.15x2.61% 465B
20.52x4.87x12.06x2.71% 365B
22.43x5.77x14.31x2.77% 300B
21.39x4.38x12.52x2.01% 258B
27.85x7.18x12.75x2.29% 238B
13.86x4.91x10.27x3.71% 210B
-45.25x6.53x25.49x2.23% 184B
Average 17.58x 6.71x 16.06x 2.32% 373.04B
Weighted average by Cap. 24.66x 8.19x 18.09x 1.93%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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