Coda Octopus Group CODA

Name: CODA Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored March 14, 2026

Price at analysis: $11.76

Crucible Score

53.1

Quality × Value Composite

KQI — Quality

58.5

C+

Fundamental Quality Index

KVI — Value

46.5

D+

Valuation Attractiveness Index

Crucible Verdict — CODA

Coda Octopus Group presents a quality-value disconnect, with solid financial metrics (77 quality score) but a weak market position (32) that undermines its overall investment appeal. CODA trades near fair value at $12 versus a $13 base case, though insider selling and inconsistent earnings execution (61% beat rate) raise concerns. The company's specialized marine technology niche limits scalability potential.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

76.9

Growth Profile

45.8

Moat Durability

68.2

Management Effectiveness⚠

45.8

Diversification & Resilience

61.0

Market Position

32.0

Weakest dimension: Market Position (32.0)

◆ KVI Value Dimensions

DCF Margin of Safety

59.8

FCF Yield & Cash Returns

46.0

Relative Valuation

58.9

Growth-Adjusted Value

23.6

Historical Valuation

19.2

Macro Context

52.7

◆ DCF Valuation Scenarios

Bear Case

$8.42

Base Case

$13.18

Bull Case

$19.85

Price at Analysis

$11.76

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$8.42	3.0%	14.0%	7.2%
🟢 Base	$13.18	6.0%	18.0%	6.7%
🟢 Bull	$19.85	9.0%	22.0%	6.3%

Key Assumptions: CODA is a small-cap, zero-debt Aerospace & Defense company with volatile but modest revenue (~$20-27M) and operating margins of 14-23%. WACC is low (6.3-7.2%) driven by the very low beta of 0.47 and zero leverage. Revenue growth assumptions range from 3% (bear) to 9% (bull) CAGR reflecting the historical flat-to-modest growth trajectory, with terminal margins anchored near historical averages adjusted for scenario. The effective tax rate is normalized to 15% given the historically low and volatile reported rates.

◆ Financial Snapshot

Profitability

Gross Margin66.5%

Operating Margin17.1%

Net Margin15.5%

ROIC5.7%

ROE16.3%

Balance Sheet

Balance SheetCR: 8.86

Cash ConversionFCF/EPS: 1.46x

Capital IntensityCapex/Rev: 4.4%

Altman Z-Score16.36 (Safe)

Piotroski F-Score6/9 (Good)

Growth

Revenue CAGR5.6% CAGR

Earnings CAGR-4.4% CAGR

Growth ConsistencyCV: 4.48

Segment Breadth0/1 growing (0%)

Quarterly TrendRev∆, Margin↑, WC↓, Exp↓

Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Leadership & Governance

CEODominique Delport · 3 years

CEO Ownership21.8%

Insider ActivitySelling

Capital AllocationROIC 5.7% vs WACC 7.1%

Earnings Beat Rate61% (13/22)

◆ Related Companies in Our Universe

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Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted March 14, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.