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Side-by-side financial comparison of CODEXIS, INC. (CDXS) and NPK International Inc. (NPKI). Click either name above to swap in a different company.
NPK International Inc. is the larger business by last-quarter revenue ($75.2M vs $38.9M, roughly 1.9× CODEXIS, INC.). On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs 30.7%). CODEXIS, INC. produced more free cash flow last quarter ($19.6M vs $5.8M). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs 23.9%).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
CDXS vs NPKI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $75.2M |
| Net Profit | $9.6M | — |
| Gross Margin | 94.8% | 37.7% |
| Operating Margin | 27.1% | 16.7% |
| Net Margin | 24.7% | — |
| Revenue YoY | 81.3% | 30.7% |
| Net Profit YoY | 192.5% | — |
| EPS (diluted) | $0.13 | $0.17 |
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.
| Q4 25 | $38.9M | $75.2M | ||
| Q3 25 | $8.6M | $68.8M | ||
| Q2 25 | $15.3M | $68.2M | ||
| Q1 25 | $7.5M | $64.8M | ||
| Q4 24 | $21.5M | $57.5M | ||
| Q3 24 | $12.8M | $44.2M | ||
| Q2 24 | $8.0M | $66.8M | ||
| Q1 24 | $17.1M | $49.0M |
| Q4 25 | $9.6M | — | ||
| Q3 25 | $-19.6M | $5.7M | ||
| Q2 25 | $-13.3M | $8.7M | ||
| Q1 25 | $-20.7M | $10.0M | ||
| Q4 24 | $-10.4M | — | ||
| Q3 24 | $-20.6M | $-174.3M | ||
| Q2 24 | $-22.8M | $8.0M | ||
| Q1 24 | $-11.5M | $7.3M |
| Q4 25 | 94.8% | 37.7% | ||
| Q3 25 | 71.3% | 31.9% | ||
| Q2 25 | 86.3% | 36.9% | ||
| Q1 25 | 63.8% | 39.0% | ||
| Q4 24 | 83.0% | 39.2% | ||
| Q3 24 | 66.4% | 27.5% | ||
| Q2 24 | 56.6% | 37.2% | ||
| Q1 24 | 71.6% | 36.0% |
| Q4 25 | 27.1% | 16.7% | ||
| Q3 25 | -220.3% | 13.2% | ||
| Q2 25 | -83.9% | 17.0% | ||
| Q1 25 | -271.6% | 20.9% | ||
| Q4 24 | -34.2% | 20.2% | ||
| Q3 24 | -129.0% | 2.8% | ||
| Q2 24 | -284.9% | 18.7% | ||
| Q1 24 | -69.6% | 14.2% |
| Q4 25 | 24.7% | — | ||
| Q3 25 | -228.1% | 8.2% | ||
| Q2 25 | -86.6% | 12.7% | ||
| Q1 25 | -274.3% | 15.4% | ||
| Q4 24 | -48.4% | — | ||
| Q3 24 | -160.8% | -394.3% | ||
| Q2 24 | -285.2% | 12.0% | ||
| Q1 24 | -67.4% | 14.9% |
| Q4 25 | $0.13 | $0.17 | ||
| Q3 25 | $-0.22 | $0.07 | ||
| Q2 25 | $-0.16 | $0.10 | ||
| Q1 25 | $-0.25 | $0.11 | ||
| Q4 24 | $-0.12 | $0.10 | ||
| Q3 24 | $-0.29 | $-1.99 | ||
| Q2 24 | $-0.32 | $0.09 | ||
| Q1 24 | $-0.16 | $0.08 |
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 | $5.1M |
| Total DebtLower is stronger | $40.1M | $16.9M |
| Stockholders' EquityBook value | $50.5M | $351.2M |
| Total Assets | $147.8M | $441.8M |
| Debt / EquityLower = less leverage | 0.79× | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.2M | $5.1M | ||
| Q3 25 | $58.7M | $35.6M | ||
| Q2 25 | $66.3M | $26.0M | ||
| Q1 25 | $59.8M | $20.8M | ||
| Q4 24 | $73.5M | $17.8M | ||
| Q3 24 | $90.3M | $42.9M | ||
| Q2 24 | $73.2M | $35.1M | ||
| Q1 24 | $85.5M | $37.7M |
| Q4 25 | $40.1M | $16.9M | ||
| Q3 25 | $39.7M | $9.5M | ||
| Q2 25 | $39.4M | $9.3M | ||
| Q1 25 | $29.2M | $8.1M | ||
| Q4 24 | $28.9M | $7.7M | ||
| Q3 24 | $28.6M | $14.0M | ||
| Q2 24 | $28.4M | $58.0M | ||
| Q1 24 | $28.1M | $77.4M |
| Q4 25 | $50.5M | $351.2M | ||
| Q3 25 | $38.5M | $333.9M | ||
| Q2 25 | $55.6M | $328.8M | ||
| Q1 25 | $49.6M | $326.9M | ||
| Q4 24 | $66.9M | $326.5M | ||
| Q3 24 | $73.4M | $316.5M | ||
| Q2 24 | $61.4M | $426.6M | ||
| Q1 24 | $79.3M | $421.6M |
| Q4 25 | $147.8M | $441.8M | ||
| Q3 25 | $124.0M | $404.5M | ||
| Q2 25 | $138.2M | $393.7M | ||
| Q1 25 | $128.9M | $390.0M | ||
| Q4 24 | $149.0M | $393.7M | ||
| Q3 24 | $148.2M | $389.6M | ||
| Q2 24 | $132.0M | $624.8M | ||
| Q1 24 | $149.6M | $640.8M |
| Q4 25 | 0.79× | 0.05× | ||
| Q3 25 | 1.03× | 0.03× | ||
| Q2 25 | 0.71× | 0.03× | ||
| Q1 25 | 0.59× | 0.02× | ||
| Q4 24 | 0.43× | 0.02× | ||
| Q3 24 | 0.39× | 0.04× | ||
| Q2 24 | 0.46× | 0.14× | ||
| Q1 24 | 0.35× | 0.18× |
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 | $18.0M |
| Free Cash FlowOCF − Capex | $19.6M | $5.8M |
| FCF MarginFCF / Revenue | 50.3% | 7.6% |
| Capex IntensityCapex / Revenue | 1.3% | 16.3% |
| Cash ConversionOCF / Net Profit | 2.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-23.8M | $26.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.1M | $18.0M | ||
| Q3 25 | $-7.7M | $24.7M | ||
| Q2 25 | $-18.0M | $21.4M | ||
| Q1 25 | $-13.8M | $8.8M | ||
| Q4 24 | $-16.5M | $-4.1M | ||
| Q3 24 | $-13.0M | $2.8M | ||
| Q2 24 | $-12.2M | $27.6M | ||
| Q1 24 | $-7.8M | $11.9M |
| Q4 25 | $19.6M | $5.8M | ||
| Q3 25 | $-7.9M | $12.0M | ||
| Q2 25 | $-20.5M | $9.7M | ||
| Q1 25 | $-15.1M | $-1.2M | ||
| Q4 24 | $-18.2M | $-17.7M | ||
| Q3 24 | $-14.0M | $-6.7M | ||
| Q2 24 | $-12.6M | $21.0M | ||
| Q1 24 | $-8.9M | $-1.9M |
| Q4 25 | 50.3% | 7.6% | ||
| Q3 25 | -91.7% | 17.4% | ||
| Q2 25 | -133.6% | 14.3% | ||
| Q1 25 | -199.6% | -1.8% | ||
| Q4 24 | -85.0% | -30.8% | ||
| Q3 24 | -109.0% | -15.2% | ||
| Q2 24 | -157.5% | 31.4% | ||
| Q1 24 | -52.2% | -3.9% |
| Q4 25 | 1.3% | 16.3% | ||
| Q3 25 | 2.1% | 18.5% | ||
| Q2 25 | 16.4% | 17.1% | ||
| Q1 25 | 16.7% | 15.5% | ||
| Q4 24 | 8.3% | 23.6% | ||
| Q3 24 | 7.8% | 21.4% | ||
| Q2 24 | 5.0% | 9.9% | ||
| Q1 24 | 6.6% | 28.3% |
| Q4 25 | 2.09× | — | ||
| Q3 25 | — | 4.37× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.43× | ||
| Q1 24 | — | 1.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDXS
Segment breakdown not available.
NPKI
| Rental Revenue | $34.8M | 46% |
| Products | $25.5M | 34% |
| Services | $14.9M | 20% |
