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Coda Octopus Group, Inc. (CODA) stock

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NASDAQ: CODA Nasdaq Aerospace & Defense

B Fundamentals grade

Coda Octopus Group, Inc. is a US-listed company in the aerospace & defense industry. Its financial year ends in October.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$14

Cash-flow model

Base case. Range ~$12–$18 across our lower- and higher-growth cases (9.2%–19.2% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 55% above it.

Price used: $9.27, November 3, 2026

Coda Octopus Group, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 4 sales by directors and officers, last 12 monthsInsider trades
  • Funds33 adding, 27 cuttingOf 12 active managers that changed their stake, 7 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Coda Octopus Group files

Where Coda Octopus stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $29m, up 17.5% on a year earlier, slower than the 22.8% growth a quarter earlier. Free-cash-flow margin fell to 19.4% from 22.3% a year earlier. Operating margin widened to 20.1% from 14.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $14.15 a share.

Source: 10-Q filed September 14, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Coda Octopus Group, Inc.'s trailing-twelve-month revenue grew 17.5% year on year, with a free-cash-flow margin of 19.4%. Where it stands out: gross margin of 66.1% ranks 1 of 46 aerospace & defense companies we cover. Where it lags: change in growth rate of -5.3pp ranks 48 of 57 aerospace & defense companies we cover.

Our discounted-cash-flow model values the business at ~$14 per share in the base case (~$12–$18 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 2.0% while net income grew 47.0%: a 45pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $8.98 is 60% below our value per share of $14.
  • Fast growth. Revenue grew 17.5% over the last 12 months, against a median of 15.5% for aerospace & defense companies we cover.
  • Margins widening. Operating margin is up 6.0 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Growth slowing. The growth rate is 5.3 points lower than a quarter earlier.
  • Volatile shares. Over the past year the shares showed annualised volatility of 57% and a beta of 1.4 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 72 days ranks 37 of 45 aerospace & defense companies we cover (median 53 days).

Latest results: FY2026 Q3

Filed September 14, 2026
Earnings per share
$0.12 against an average estimate of $0.12: beat by 4.3%
Revenue
$8m, up 9.2% on a year earlier
Guidance given
projected revenue growth growth 30% to 40% (next 12 months)
Next report
September 14, 2026

Coda Octopus Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.2%
  • 1 week-2.1%
  • 1 month-16.8%
  • This year-3.4%
  • 1 year-1.5%
  • 5 years+4.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$28.6M
Operating margin
20.1%
Net margin
17.6%
EPS (TTM, diluted)
$0.45

Growth

Revenue growth
+17.5%
Change in growth rate
−5.3 pts
Share count change
−0.5%

Cash

Free cash flow (TTM)
$5.5M
FCF margin
19.4%
Stock pay % of revenue
0.3%

Earnings

Last results
September 18, 2008

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Shareholder vote
  2. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Coda Octopus Group, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 4.2% a year of cash-flow growth for five years.That is close to the 6.0% a year revenue growth Coda Octopus Group has delivered.

  • Priced in4.2%
  • Last 12 months17.5%
  • 3 years a year11.0%
  • 5 years a year6.0%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($9.27, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$14
Price used
$9.27close November 3, 2026
Implied change
▲ +55%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Coda Octopus Group, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($3.9M, FY2026 Q3 TTM), growing 14.9% and 14.8% in the next two years (forecasts, guidance and its record), then back to 14.2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$12–~$18 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Coda Octopus Group, Inc.'s free cash flow after stock-based pay ( $3.9M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Coda Octopus Group, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.06 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$14 ~$12–$18 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$12 ~$9.9–$16 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$4.2 ~$2.8–$6.4 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$3.9 ~$3.4–$4.5 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$9.8 ~$3.9–$14 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Coda Octopus Group, Inc. with Aerospace & Defense in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −21%
  • Revenue growth 5 points higher ▲ +27%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▼ −12%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $8$10$12$15$19$24
8.5% $7$8$10$12$15$18
10% $6$7$8$10$12$15

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$1.68$4.98$6.08$7.34$5.52$8.44$6.42$6.60$8.53$10.25$8.98
Market value$14m$46m$61m$78m$62m$95m$72m$75m$96m$115m$101m
+ Net debt (− = net cash)$4m$1m−$5m−$10m−$14m−$18m−$23m−$24m−$22m−$29m−$32m
Enterprise value$19m$48m$56m$68m$48m$78m$49m$50m$74m$87m$69m
Multiples
Price / sales 0.7x2.6x3.4x3.1x3.1x4.5x3.3x3.9x4.7x4.3x3.5x
Price / earnings 2.9x13.9x12.3x15.0x18.6x19.3x16.8x23.9x26.4x27.9x20.0x
Price / free cash flow 3.8x20.3x32.9x19.0x17.3x39.5x11.6xn/m49.4x19.1x18.0x
EV / EBITDA 2.9x10.0x13.7x9.6x13.4x16.3x8.7x15.0x17.2x16.1x10.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

77 /100

Strong moat

How hard Coda Octopus Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Cash operating profit has been a median 10.1% of total assets over 9 years.

  • Pricing power 19 / 20

    Gross margin has been a median 67.2%, moving by 3.5 percentage points (standard deviation) across 10 years.

  • Durability 13 / 20

    Operating margin has been a median 18.7%; its worst year was 9.7%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 9 of 10 years, at a median 14.4% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 1.7% over five years; stock-based pay has been a median 1.1% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.47 +27% $29m +10%
Next $0.56 +20% $34m +17%

Next year's EPS estimate has moved +1.8% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −7.8% on 90 days ago. In the last 30 days, 1 analyst raised Coda Octopus Group, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Coda Octopus Group, Inc., last 90 days
$0.45 $0.50 $0.55 $0.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.51 Current fiscal year, 60 days ago: $0.47 Current fiscal year, 30 days ago: $0.47 Current fiscal year, 7 days ago: $0.47 Current fiscal year, Now: $0.47 $0.47 Next fiscal year, 90 days ago: $0.56 Next fiscal year, 60 days ago: $0.58 Next fiscal year, 30 days ago: $0.58 Next fiscal year, 7 days ago: $0.58 Next fiscal year, Now: $0.56 $0.56

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.51$0.56
60 days ago $0.47$0.58
30 days ago $0.47$0.58
7 days ago $0.47$0.58
Now $0.47$0.56

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $0.12 $0.12 +4.3%
Apr 2026 $0.13 $0.15 +15.4%
Jan 2026 $0.06 $0.08 +33.3%
Oct 2025 $0.07 $0.10 +42.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 18, 2008
  • projected revenue growth next 12 months 30% growth to 40% growth
    “The Company believes it can support projected revenue growth of 30/40% over the next 12 months with essentially the same SG&A platform.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Coda Octopus Group, Inc.'s revenue by +14.9% next year and +14.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+15.4%, weight 56%) and the company's own record (+14.2%, weight 44%) . How the weights are set.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202622

Counts of recommendations published by analysts covering Coda Octopus Group, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.6%
of tradable shares
Days to cover
2.11
at average volume
Short interest, 1 month
−14%
to October 15, 2026
Held by institutions
27%
of shares
Held by insiders
51.2%
of shares
Employees
100
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −12.4%

$10.25 on October 31, 2025 to $8.98

ThenNowEffect
Revenue (last 12 months) $24m $29m +17.5%
Net margin 14.1% 17.6% +25.1%
P/E multiple 33.8x 20.0x −40.7%
Share count 11m 11m +0.5%

Biggest factor: p/e multiple.

Last 3 years +27.9%

$7.02 on November 3, 2023 to $8.98

ThenNowEffect
Revenue (last 12 months) $21m $29m +36.7%
Net margin 19.8% 17.6% −11.1%
P/E multiple 19.0x 20.0x +5.3%
Share count 11m 11m −0.1%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CODA+27%−14%−12%+30%+19%−3%
Industry peers (median)−6%−10%+14%+22%+16%−12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CODA58%33%58%50%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CODA−26%−42%−47%−22%−34%−46%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 77% from May 7, 2019 to May 19, 2020. Getting back needed a 331% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$7.99 – $16.76
From 52-week high
−46.4%
vs 50-day average
−11.9%
vs 200-day average
−19.9%
Volatility (1 year)
57%
Beta vs S&P 500
1.35

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Coda Octopus Group, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Coda Octopus Group, Inc.
$15M $20M $25M $30M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $19.4M Revenue (TTM), FY24 Q1: $18.2M Revenue (TTM), FY24 Q2: $18.2M Revenue (TTM), FY24 Q3: $18.8M Revenue (TTM), FY24 Q4: $20.3M Revenue (TTM), FY25 Q1: $21.1M Revenue (TTM), FY25 Q2: $22.8M Revenue (TTM), FY25 Q3: $24.3M Revenue (TTM), FY25 Q4: $26.6M Revenue (TTM), FY26 Q1: $28.1M Revenue (TTM), FY26 Q2: $28M Revenue (TTM), FY26 Q3: $28.6M $28.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $19.4M
FY24 Q1 $18.2M
FY24 Q2 $18.2M
FY24 Q3 $18.8M
FY24 Q4 $20.3M
FY25 Q1 $21.1M
FY25 Q2 $22.8M
FY25 Q3 $24.3M
FY25 Q4 $26.6M
FY26 Q1 $28.1M
FY26 Q2 $28M
FY26 Q3 $28.6M
Revenue growth, TTM YoY Coda Octopus Group, Inc.
-20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -12.9% Revenue growth, TTM YoY, FY24 Q1: -17.1% Revenue growth, TTM YoY, FY24 Q2: -18.2% Revenue growth, TTM YoY, FY24 Q3: -10.0% Revenue growth, TTM YoY, FY24 Q4: 5.0% Revenue growth, TTM YoY, FY25 Q1: 15.6% Revenue growth, TTM YoY, FY25 Q2: 24.8% Revenue growth, TTM YoY, FY25 Q3: 29.3% Revenue growth, TTM YoY, FY25 Q4: 30.7% Revenue growth, TTM YoY, FY26 Q1: 33.2% Revenue growth, TTM YoY, FY26 Q2: 22.8% Revenue growth, TTM YoY, FY26 Q3: 17.5% 17.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -12.9%
FY24 Q1 -17.1%
FY24 Q2 -18.2%
FY24 Q3 -10.0%
FY24 Q4 5.0%
FY25 Q1 15.6%
FY25 Q2 24.8%
FY25 Q3 29.3%
FY25 Q4 30.7%
FY26 Q1 33.2%
FY26 Q2 22.8%
FY26 Q3 17.5%
Operating margin (TTM) Coda Octopus Group, Inc.
10% 15% 20% 25% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 14.2% Operating margin (TTM), FY24 Q1: 10.7% Operating margin (TTM), FY24 Q2: 13.4% Operating margin (TTM), FY24 Q3: 15.8% Operating margin (TTM), FY24 Q4: 17.6% Operating margin (TTM), FY25 Q1: 17.5% Operating margin (TTM), FY25 Q2: 15.1% Operating margin (TTM), FY25 Q3: 14.0% Operating margin (TTM), FY25 Q4: 17.1% Operating margin (TTM), FY26 Q1: 17.4% Operating margin (TTM), FY26 Q2: 20.0% Operating margin (TTM), FY26 Q3: 20.1% 20.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 14.2%
FY24 Q1 10.7%
FY24 Q2 13.4%
FY24 Q3 15.8%
FY24 Q4 17.6%
FY25 Q1 17.5%
FY25 Q2 15.1%
FY25 Q3 14.0%
FY25 Q4 17.1%
FY26 Q1 17.4%
FY26 Q2 20.0%
FY26 Q3 20.1%
FCF margin (TTM) Coda Octopus Group, Inc.
-10% 0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 1.3% FCF margin (TTM), FY24 Q1: -5.9% FCF margin (TTM), FY24 Q2: -4.8% FCF margin (TTM), FY24 Q3: -3.7% FCF margin (TTM), FY24 Q4: 9.2% FCF margin (TTM), FY25 Q1: 13.4% FCF margin (TTM), FY25 Q2: 23.6% FCF margin (TTM), FY25 Q3: 22.3% FCF margin (TTM), FY25 Q4: 22.6% FCF margin (TTM), FY26 Q1: 24.5% FCF margin (TTM), FY26 Q2: 21.2% FCF margin (TTM), FY26 Q3: 19.4% 19.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 1.3%
FY24 Q1 -5.9%
FY24 Q2 -4.8%
FY24 Q3 -3.7%
FY24 Q4 9.2%
FY25 Q1 13.4%
FY25 Q2 23.6%
FY25 Q3 22.3%
FY25 Q4 22.6%
FY26 Q1 24.5%
FY26 Q2 21.2%
FY26 Q3 19.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Coda Octopus Group took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $26.6M
  2. Other income $976,189 · 3.7%
  3. Cost of revenue $8.9M · 33.5%
  4. Gross profit $17.7M · 66.5%
  5. Research and development $2.4M · 9.2%
  6. Selling, general and admin $10.7M · 40.2%
  7. Operating income $4.5M · 17.1%
  8. Income tax $1.4M · 5.2%
  9. Net income $4.1M · 15.5%

Shares of revenue. Source: Coda Octopus Group's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Oct 2009 2010 Oct 2010 2016 Oct 2016 2017 Oct 2017 2018 Oct 2018 2019 Oct 2019 2020 Oct 2020 2021 Oct 2021 2022 Oct 2022 2023 Oct 2023 2024 Oct 2024 2025 Oct 2025 LTM Jul 2026
Income
Revenue 13 12 21 18 18 25 20 21 22 19 20 27 29
Gross profit 7 5 13 12 13 16 13 15 15 13 14 18 19
EBITDA −6 −3 6 5 4 7 4 5 6 3 4 5 7
Operating income −7 −3 6 4 3 6 3 4 5 3 4 5 6
Net income −9 −2 5 3 5 5 3 5 4 3 4 4 5
Diluted EPS −$2.66 −$0.56 $0.58 $0.36 $0.49 $0.49 $0.30 $0.44 $0.38 $0.28 $0.32 $0.37 $0.45
Growth (year on year)
Revenue — −13.0% +83.5% −14.6% −0.0% +39.1% −20.0% +6.4% +4.2% −12.9% +5.0% +30.7% +17.5%
EBITDA — — — −24.8% −14.4% +73.5% −49.1% +31.9% +19.3% −41.2% +28.5% +25.7% +55.8%
Operating income — — — −31.1% −13.3% +88.9% −55.2% +36.9% +30.4% −45.3% +30.8% +26.6% +68.0%
Net income — — — −32.3% +49.4% +4.7% −36.0% +48.0% −13.1% −27.4% +16.7% +13.3% +47.0%
Diluted EPS — — — −37.9% +36.1% 0.0% −38.8% +46.7% −13.6% −26.3% +14.3% +15.6% +47.8%
Margins
Gross margin 52.2% 46.3% 59.9% 66.4% 70.3% 65.6% 63.5% 69.2% 68.3% 67.3% 69.8% 66.5% 66.1%
EBITDA margin −45.8% −22.0% 30.1% 26.5% 22.7% 28.3% 18.0% 22.3% 25.6% 17.3% 21.1% 20.3% 23.1%
Operating margin −51.0% −24.4% 26.2% 21.2% 18.4% 25.0% 14.0% 18.0% 22.5% 14.2% 17.6% 17.1% 20.1%
Net margin −71.3% −15.5% 23.3% 18.5% 27.7% 20.9% 16.7% 23.2% 19.4% 16.1% 17.9% 15.5% 17.6%
Free-cash-flow margin — — 17.9% 12.6% 10.4% 16.5% 18.0% 11.3% 28.2% 1.9% 9.6% 22.7% 19.6%
Cash flow
Cash from operations −2 −0 4 5 2 6 4 3 7 2 2 7 6
Capital spending — — 1 3 1 2 1 1 0 2 1 1 1
Free cash flow — — 4 2 2 4 4 2 6 0 2 6 6
Stock-based pay 0 0 0 0 0 1 1 1 1 1 0 0 0
Free cash flow after stock pay — — 4 2 1 3 3 1 5 −0 2 6 6
Balance sheet
Cash 0 0 6 7 8 12 15 18 23 24 22 29 32
Total debt 0 0 10 8 2 2 1 — 0 0 0 0 0
Net debt (negative = net cash) −0 −0 4 1 −5 −10 −14 −18 −23 −24 −22 −29 −32
Diluted shares 3m 4m 8m 9m 10m 11m 11m 11m 11m 11m 11m 11m 11m
Returned to shareholders
Buybacks — — — — — — — — — 0 0 — —
Total returned — — — — — — — — — 0 0 — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · July 31, 2026
What it owns · $69m
Short-term assets $55mLonger-term assets $14m
What it owes, and who funded it · $69m
Short-term liabilities $5mLonger-term liabilities $1mShareholders' equity $63m
  • Short-term assets cover short-term liabilities $55m of assets due within a year against $5m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $55m short-term assets against $697,092 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Coda Octopus Group, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
−0.5%
year over year
R&D spending
9.2%
of revenue
Sales & admin spending
36.8%
of revenue
Days sales outstanding
72 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in aerospace & defense
Last 12 months unless stated CODA UMAC SATL MIND AIRI EH Median
Revenue, last 12 months $29m $32m $32m $35m $47m $58m $769m
Revenue growth, last 12 months 17.5% 313.6% 130.1% −28.5% −10.6% −8.3% 15.5%
Revenue growth, 3-year average 11.0% — — 3.6% −4.1% — 12.6%
Revenue growth, latest quarter 9.2% 687.3% 258.5% −58.5% −5.2% — 15.8%
Gross margin 66.1% 34.8% — 42.2% 19.7% 61.5% 27.8%
Operating margin 20.1% −93.5% −66.8% −2.7% −1.1% −75.8% 9.0%
Operating margin, 3-year average 16.6% −194.8% −654.1% 6.3% −0.7% −345.8% 6.0%
Net margin 17.6% −20.3% −325.6% −6.8% −3.8% −66.0% 5.5%
Cash from operations / revenue 22.1% −176.5% −82.4% −9.9% −6.4% −42.9% 5.5%
Free-cash-flow margin 19.4% −183.7% −132.2% −11.1% −10.0% −78.6% 3.4%
Free-cash-flow margin, 3-year average 12.6% — −416.6% −4.0% −3.1% −159.6% 3.0%
Stock pay / revenue 0.3% 45.0% 16.5% 5.8% 3.0% 58.9% 1.2%
Change in share count −0.5% 195.8% 403.1% 40.3% 39.6% >999% 3.9%

Median of all 57 companies we cover in aerospace & defense. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 aerospace & defense companies
Measure Company Peer median Rank
Revenue growth Growth 17.5% 15.5% 24 of 57
Change in growth rate Growth -5.3pp +2.2pp 48 of 57
Gross margin Profitability 66.1% 28.3% 1 of 46
Operating margin Profitability 20.1% 8.5% 7 of 51
Net margin Profitability 17.6% 5.5% 5 of 57
Free-cash-flow margin Cash generation 19.4% 3.4% 3 of 57
Stock pay as % of revenue Cash generation 0.3% 1.5% 6 of 53
Change in share count Balance sheet -0.5% 2.4% 12 of 51
Days sales outstanding Balance sheet 72 days 53 days 37 of 45

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to October 31, 2025
Segments
Line of business Revenue Share YoY
Marine Technology Business Products $13.2M 49.8% ▲ 3.2%
Defense Engineering Services Business Services $7.9M 29.9% ▲ 5.6%
Acoustic Sensors and Materials Business PAL $5.4M 20.4% —
Products and services
Line of business Revenue Share YoY
Equipment Sales $14.4M 54.2% ▲ 71.5%
Engineering Parts $6.4M 23.9% ▲ 15.2%
Services $3.5M 13.2% ▲ 10.0%
Equipment Rentals $1.5M 5.6% ▼ 36.3%
Software Sales $811,912 3.1% ▼ 7.6%
Geography
Region Revenue Share YoY
Americas $8.9M 33.6% ▲ 22.6%
Europe $8.2M 30.9% ▲ 27.5%
Australia and Asia $7.9M 29.6% ▲ 43.6%
Middle East and Africa $1.6M 5.9% ▲ 39.0%

From Coda Octopus Group, Inc.'s 10-K filed January 29, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$26.8M
Institutions reporting
62
Shares held vs prior quarter
▲ 3.0%
Positions opened / closed
11 / 14

Top buyers and sellers, Q2 2026: 33 institutions bought and 27 sold ; the biggest buyer was Meros Investment Management, LP (+230K shares) and the biggest seller Sei Investments Co (−98K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Essex Investment Management Co LLC $3.1M 322K 11.7% ▲ 69.9%
Marshall Wace, LLP $2.6M 263K 9.6% ▲ 3.5%
Meros Investment Management, LP $2.5M 254K 9.3% ▲ 946.1%
Vanguard Capital Management LLC $2.2M 220K 8.0% ▼ 16.5%
Acadian Asset Management LLC $1.4M 147K 5.3% ▲ 27.0%
Archon Capital Management LLC $1.4M 140K 5.1% 0.0%
Round Rock Advisors LLC $1.1M 117K 4.3% 0.0%
Dimensional Fund Advisors LP $1.1M 108K 3.9% ▲ 9.3%
Renaissance Technologies LLC $1M 103K 3.8% ▲ 382.6%
Grandeur Peak Global Advisors, LLC $671,033 69K 2.5% ▲ 9.9%
Navellier & Associates Inc $642,973 66K 2.4% ▲ 41.7%
Arrowstreet Capital, Limited Partnership $628,827 64K 2.3% ▼ 35.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Coda Octopus Group, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.3M 4 trades by 2 insiders · 0% under pre-set plans
Net ▼ $1.3M net selling
Insider Date Trade Shares Price Value
Jardine Gayle Michelle Interim CFO March 19, 2026 Sell 2,256 $12.59 $28,403
Emerson John Steven 10% owner March 11, 2026 Sell 3,000 $14.45 $43,350
Emerson John Steven 10% owner March 11, 2026 Sell 1,000 $14.45 $14,450
Emerson John Steven 10% owner March 11, 2026 Sell 79,254 $14.99 $1.2M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • September 18, 2008

Recent SEC filings

Data status

When each part of this page on Coda Octopus Group, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Coda Octopus Group, Inc. in brief

What does Coda Octopus Group, Inc. do?
Coda Octopus Group, Inc. is a US-listed company in the aerospace & defense industry. Its financial year ends in October.
What is Coda Octopus Group, Inc.'s stock ticker?
Coda Octopus Group, Inc. trades under the ticker CODA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Coda Octopus Group, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Coda Octopus Group, Inc. reported revenue of $28.6M, 17.5% higher than a year earlier, according to its SEC filings.
What is Coda Octopus Group, Inc.'s free cash flow?
Coda Octopus Group, Inc.'s free-cash-flow margin is 19.4% of revenue over the trailing twelve months, ranking 3 of the 57 aerospace & defense companies we cover.
What is Coda Octopus Group, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Coda Octopus Group, Inc.'s free cash flow after stock-based pay gives ~$14 per share in the base case, and ~$12–$18 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Coda Octopus Group, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Essex Investment Management Co LLC, Marshall Wace, LLP and Meros Investment Management, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Coda Octopus Group, Inc.'s market cap?
On November 2, 2026, Coda Octopus Group, Inc.'s market capitalisation was about $101M, with a price-to-earnings ratio of 20.0 and net debt of -$31.7M. Market figures come from third-party market data and may be delayed.
Who are Coda Octopus Group, Inc.'s competitors?
In our Aerospace & Defense peer group, the companies closest to Coda Octopus Group, Inc. are Unusual Machines, Inc., Satellogic Inc., Mind Technology, Inc, AIR Industries Group and Ehang Holdings Ltd. The side-by-side comparison below sets their revenue, margins and growth against Coda Octopus Group, Inc.'s.
Are insiders buying or selling Coda Octopus Group, Inc. stock?
Over the last 12 months, Coda Octopus Group, Inc.'s directors and officers reported 0 open-market purchases and 4 sales on Form 4. The insider trading page charts every trade.