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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and NACCO INDUSTRIES INC (NC). Click either name above to swap in a different company.
NACCO INDUSTRIES INC is the larger business by last-quarter revenue ($62.8M vs $38.9M, roughly 1.6× CODEXIS, INC.). CODEXIS, INC. runs the higher net margin — 24.7% vs 14.1%, a 10.6% gap on every dollar of revenue. On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs -4.3%). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs 9.5%).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
NACCO Industries, Inc. is an American publicly traded holding company, headquartered in Cleveland, Ohio. Through a portfolio of mining and natural resources businesses, the company operates under three business segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. The North American Mining se...
CDXS vs NC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $62.8M |
| Net Profit | $9.6M | $8.8M |
| Gross Margin | 94.8% | 22.8% |
| Operating Margin | 27.1% | 17.5% |
| Net Margin | 24.7% | 14.1% |
| Revenue YoY | 81.3% | -4.3% |
| Net Profit YoY | 192.5% | 80.0% |
| EPS (diluted) | $0.13 | $1.17 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $62.8M | ||
| Q4 25 | $38.9M | $66.8M | ||
| Q3 25 | $8.6M | $76.6M | ||
| Q2 25 | $15.3M | $68.2M | ||
| Q1 25 | $7.5M | $65.6M | ||
| Q4 24 | $21.5M | $70.4M | ||
| Q3 24 | $12.8M | $61.7M | ||
| Q2 24 | $8.0M | $52.3M |
| Q1 26 | — | $8.8M | ||
| Q4 25 | $9.6M | $-3.8M | ||
| Q3 25 | $-19.6M | $13.3M | ||
| Q2 25 | $-13.3M | $3.3M | ||
| Q1 25 | $-20.7M | $4.9M | ||
| Q4 24 | $-10.4M | $7.6M | ||
| Q3 24 | $-20.6M | $15.6M | ||
| Q2 24 | $-22.8M | $6.0M |
| Q1 26 | — | 22.8% | ||
| Q4 25 | 94.8% | 18.0% | ||
| Q3 25 | 71.3% | 13.0% | ||
| Q2 25 | 86.3% | 10.0% | ||
| Q1 25 | 63.8% | 14.7% | ||
| Q4 24 | 83.0% | 12.0% | ||
| Q3 24 | 66.4% | 11.7% | ||
| Q2 24 | 56.6% | 13.4% |
| Q1 26 | — | 17.5% | ||
| Q4 25 | 27.1% | 11.3% | ||
| Q3 25 | -220.3% | 8.8% | ||
| Q2 25 | -83.9% | -0.1% | ||
| Q1 25 | -271.6% | 11.7% | ||
| Q4 24 | -34.2% | 5.5% | ||
| Q3 24 | -129.0% | 31.9% | ||
| Q2 24 | -284.9% | 14.1% |
| Q1 26 | — | 14.1% | ||
| Q4 25 | 24.7% | -5.8% | ||
| Q3 25 | -228.1% | 17.3% | ||
| Q2 25 | -86.6% | 4.8% | ||
| Q1 25 | -274.3% | 7.5% | ||
| Q4 24 | -48.4% | 10.7% | ||
| Q3 24 | -160.8% | 25.4% | ||
| Q2 24 | -285.2% | 11.4% |
| Q1 26 | — | $1.17 | ||
| Q4 25 | $0.13 | $-0.53 | ||
| Q3 25 | $-0.22 | $1.78 | ||
| Q2 25 | $-0.16 | $0.44 | ||
| Q1 25 | $-0.25 | $0.66 | ||
| Q4 24 | $-0.12 | $0.99 | ||
| Q3 24 | $-0.29 | $2.14 | ||
| Q2 24 | $-0.32 | $0.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $78.2M | — |
| Total DebtLower is stronger | $40.1M | — |
| Stockholders' EquityBook value | $50.5M | — |
| Total Assets | $147.8M | — |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $78.2M | $49.7M | ||
| Q3 25 | $58.7M | $52.7M | ||
| Q2 25 | $66.3M | $49.4M | ||
| Q1 25 | $59.8M | $61.9M | ||
| Q4 24 | $73.5M | $72.8M | ||
| Q3 24 | $90.3M | $63.1M | ||
| Q2 24 | $73.2M | $62.4M |
| Q1 26 | — | — | ||
| Q4 25 | $40.1M | $100.8M | ||
| Q3 25 | $39.7M | — | ||
| Q2 25 | $39.4M | — | ||
| Q1 25 | $29.2M | — | ||
| Q4 24 | $28.9M | $99.4M | ||
| Q3 24 | $28.6M | — | ||
| Q2 24 | $28.4M | $29.0M |
| Q1 26 | — | — | ||
| Q4 25 | $50.5M | $429.2M | ||
| Q3 25 | $38.5M | $426.4M | ||
| Q2 25 | $55.6M | $413.1M | ||
| Q1 25 | $49.6M | $409.1M | ||
| Q4 24 | $66.9M | $404.9M | ||
| Q3 24 | $73.4M | $397.3M | ||
| Q2 24 | $61.4M | $384.1M |
| Q1 26 | — | — | ||
| Q4 25 | $147.8M | $661.2M | ||
| Q3 25 | $124.0M | $637.6M | ||
| Q2 25 | $138.2M | $631.3M | ||
| Q1 25 | $128.9M | $634.2M | ||
| Q4 24 | $149.0M | $631.7M | ||
| Q3 24 | $148.2M | $597.4M | ||
| Q2 24 | $132.0M | $560.1M |
| Q1 26 | — | — | ||
| Q4 25 | 0.79× | 0.23× | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 0.59× | — | ||
| Q4 24 | 0.43× | 0.25× | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 0.46× | 0.08× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $20.1M | — |
| Free Cash FlowOCF − Capex | $19.6M | — |
| FCF MarginFCF / Revenue | 50.3% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 2.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $20.1M | $11.4M | ||
| Q3 25 | $-7.7M | $42.3M | ||
| Q2 25 | $-18.0M | $-7.8M | ||
| Q1 25 | $-13.8M | $5.0M | ||
| Q4 24 | $-16.5M | $25.2M | ||
| Q3 24 | $-13.0M | $2.8M | ||
| Q2 24 | $-12.2M | $4.1M |
| Q1 26 | — | — | ||
| Q4 25 | $19.6M | — | ||
| Q3 25 | $-7.9M | — | ||
| Q2 25 | $-20.5M | — | ||
| Q1 25 | $-15.1M | — | ||
| Q4 24 | $-18.2M | — | ||
| Q3 24 | $-14.0M | — | ||
| Q2 24 | $-12.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | 50.3% | — | ||
| Q3 25 | -91.7% | — | ||
| Q2 25 | -133.6% | — | ||
| Q1 25 | -199.6% | — | ||
| Q4 24 | -85.0% | — | ||
| Q3 24 | -109.0% | — | ||
| Q2 24 | -157.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 16.4% | — | ||
| Q1 25 | 16.7% | — | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 7.8% | — | ||
| Q2 24 | 5.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.09× | — | ||
| Q3 25 | — | 3.19× | ||
| Q2 25 | — | -2.39× | ||
| Q1 25 | — | 1.03× | ||
| Q4 24 | — | 3.33× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.68× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
