debt_leverage_profile
3.37x Total Debt / Equity (High leverage)
High
SEC-XBRL
interest_rate_sensitivity
High sensitivity; Cadiz carries ~$170M+ long-term debt at variable/fixed rates — a 200bps rise adds ~$3-4M annual interest expense, pressuring thin operating margins significantly
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
California groundwater permitting regulators and single-source pipeline infrastructure contractors in the Mojave Desert corridor are primary chokepoints
Inferred
Agent_Inference
international_expansion_readiness
Cadiz operates exclusively in California, USA; zero international revenue exposure; sovereign currency devaluation risk is null
Inferred
Agent_Inference
geographic_footprint
100% domestic US operations concentrated in San Bernardino County, California; no international revenue markets; currency devaluation exposure is null
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Natural Gas, Coal, Uranium, Crude Oil, Copper (grid), Lithium (storage); geopolitical: European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
High dependency on AECOM and limited Mojave pipeline contractors; engineering/construction vendors for water infrastructure are non-substitutable in short term
Inferred
Agent_Inference
business_model_type_primary
Cadiz is a water-rights and infrastructure asset company; cloud infrastructure termination would cause minor operational disruption only — no cloud-dependent revenue delivery
Inferred
Agent_Inference
business_model_type_secondary
Secondary administrative/data systems mildly cloud-dependent; 30-day termination notice would disrupt back-office but not core water-rights asset value
Inferred
Agent_Inference
switching_cost_profile
Minimal API coupling risk; Cadiz is a physical asset/water infrastructure company with no significant software API dependencies in its revenue model
Inferred
Agent_Inference
howey_test_risk_index
Low Howey Test risk; revenue model is water sales and infrastructure leasing — tangible commodity/utility contracts, not investment contracts or profit-sharing schemes
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low GDPR/CCPA exposure; Cadiz collects minimal personal data, operates B2B water supply contracts, no consumer data platform or PII-intensive operations
Inferred
Agent_Inference
antitrust_exposure_flag
Moderate; Cadiz holds quasi-monopolistic water rights over a large Mojave aquifer — potential antitrust scrutiny if water pricing seen as exploitative in drought conditions
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FERC, NERC, EPA, NRC, State PUCs, DOE; Rate-case lag and clean-energy mandates compress returns on regulated asset base.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
Predominantly long-term contracted/recurring (~80%+ targeted via multi-year water supply agreements); transactional spot sales minimal in current early-revenue stage
Inferred
Agent_Inference
monetization_vector
Water volumetric sales (acre-feet) under long-term municipal/agricultural take-or-pay contracts; pipeline capacity leasing as secondary monetization vector
Inferred
Agent_Inference
pricing_architecture
Water priced per acre-foot under indexed contracts; stress scenario — California regulators capping water pricing would compress margins severely given fixed debt load
Inferred
Agent_Inference
pricing_power_rating
Moderate; water scarcity supports pricing power but regulatory oversight and public utility frameworks limit unilateral price increases; rated 6/10
Inferred
Agent_Inference
target_gross_margin_bracket
0.7% Gross Margin (Thin (<20%))
High
SEC-XBRL
churn_vulnerability_index
Low free-rider leakage; water infrastructure is physically controlled, metered, and contracted — no digital free-rider problem; churn risk tied to municipal contract renewals
Inferred
Agent_Inference
headcount_cost_structure
Highly sublinear; doubling water throughput requires minimal incremental headcount — infrastructure-heavy, not labor-intensive; ~60 FTE current with scalable capacity
Inferred
Agent_Inference
marginal_cost_of_growth
Near-zero marginal cost once pipeline infrastructure built; incremental water volume delivery cost is minimal — strong operating leverage at scale
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; Cadiz is not a franchise business model — null franchise compliance drift risk
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, CAC remains low (long-cycle municipal RFP process); LTV extremely high given 25-50 year water agreements; unit economics improve dramatically at scale
Inferred
Agent_Inference
network_effect_present
No traditional network effects; value derives from physical water scarcity and infrastructure monopoly, not user-base growth — network effect durability rated null
Inferred
Agent_Inference
asset_efficiency_ratio
-24.2% Return on Assets (Negative equity)
High
SEC-XBRL
recession_resistance_tier
Tier 1 recession resistant; water is essential utility, municipal contracts are non-discretionary — demand inelastic across economic cycles
Inferred
Agent_Inference
customer_segment_primary
Southern California municipal water agencies and utilities (e.g., Santa Margarita Water District) — high concentration risk with few large anchor customers
Inferred
Agent_Inference
customer_segment_secondary
Agricultural water users and industrial operators in Mojave region; secondary segment smaller, more price-sensitive, and subject to drought-related demand variability
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.34 (HIL — ~34% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
46.4% CapEx / Revenue (High-CapEx Infrastructure)
High
SEC-XBRL
sec_cik
0000727273
High
SEC-EDGAR
ticker
CDZI
High
SEC-EDGAR