Cyanotech Corporation Financial Ratios — CYAN Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	03/31/2011	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	13.3	22.08	17.49	-1.43	-0.08	-14.16	-4.03	3.48	-12.12	1.26	2.94	6.85	-11.14	-19.21	-13.18
Return on Capital (%)	- -	- -	- -	- -	0.86	- -	- -	- -	- -	-14.71	-28.65	-45.62	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	-0.13	- -	- -	- -	- -	4	0.3	9.14	- -	- -	- -
Gross Margin (%)	37.68	39.68	39.64	39.71	42.79	37.27	38.15	39.19	34.65	39.81	34.37	37.72	31.32	25.77	28.4
EBITDA Margin (%)	11.1	14.84	11.36	3.27	4.63	2.31	4.04	9.65	-3.61	10.29	6.64	12.5	-3.56	-10.88	-2.6
Operating Margin (%)	7.43	12.02	8.27	-0.58	0.95	-2.47	-2.13	4.14	-9.92	3.3	0.26	7.16	-12.6	-19.9	-10.36
Incremental Operating Margin (%)	-23.04	21.9	-24.36	- -	8.63	- -	- -	101.11	- -	238.66	-217.26	68.73	- -	- -	- -
Pretax Margin (%)	6.91	11.58	7.7	-1.16	0.68	-3.35	-3.78	2.68	-11.85	1.24	2.85	6.07	-14.76	-22.8	-13.19
Profit Margin (%)	10.28	14.75	15.16	-1.49	-0.07	-13.8	-3.79	3	-11.91	1.21	2.84	5.99	-14.84	-22.83	-13.23
Net Income to Common Margin (%)	10.28	14.75	15.16	-1.49	-0.07	-13.8	-3.79	3	-11.91	1.21	2.84	5.99	-14.84	-22.83	-13.23
Effective Tax Rate (%)	- -	- -	- -	- -	110.48	- -	- -	- -	- -	2.27	0.33	1.28	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	03/31/2011	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025

Total Debt	1	1	6	5	5	8	7	7	8	13	11	9	11	11	12
ST Debt	- -	- -	- -	- -	- -	1	1	1	3	3	3	1	6	6	7
LT Debt	1	- -	5	5	5	7	6	6	5	10	8	8	5	5	4
Total Debt/EBITDA	0.41	0.17	1.79	5.93	3.41	10.43	5.77	2.11	-7.46	3.83	4.91	1.91	-13.54	-4.34	-18.38
Net Debt/EBITDA	-0.7	-1.21	0.39	1.25	1.99	8.75	4.69	1.71	-6.69	1.93	1.52	0.5	-6.59	-2.36	-11.75
Total Debt/EBIT	0.61	0.21	2.46	-33.34	16.59	-9.77	-10.97	4.91	-2.71	11.94	125.61	3.34	-3.82	-2.37	-4.61
Net Debt/EBIT	-1.04	-1.5	0.54	-7.04	9.68	-8.19	-8.91	3.97	-2.43	6	38.88	0.87	-1.86	-1.29	-2.95
EBITDA to Interest Expense	26.69	66.45	51.97	7.81	16.83	2.61	2.45	6.6	-1.87	4.99	3.91	11.47	-1.64	-3.76	-0.92
EBITDA-CapEx/Interest Expense	19.34	29.56	-12.93	-27.08	-28.11	-12.65	0.85	4.58	-2.61	4.65	2.53	8.23	-3.77	-4.33	-1.28
EBIT to Interest Expense	17.87	53.82	37.85	-1.39	3.46	-2.78	-1.29	2.83	-5.15	1.6	0.15	6.57	-5.82	-6.87	-3.65
Interest Expense	- -	- -	- -	- -	- -	- -	1	- -	1	1	1	- -	1	1	1
Common Equity/Total Assets	-120.43	-68.59	-30.96	-31.16	-30.29	-44.17	-51.34	-46.94	-59.2	-53.95	-52.55	-43.91	-58.9	-90.64	-110.52
Long-Term Debt/Equity (%)	4.98	2.62	26.96	25.61	23.78	39.79	37.63	31.98	34.69	60.13	46.93	39.63	32.27	40.16	49.11
Long-Term Debt/Capital (%)	-3.47	-3.22	-166.89	-135.89	-127.09	-116.51	-83.46	-82.73	-54.92	-208.31	-140.93	-141.3	-83.18	-40.01	-30.31
Long-Term Debt/Total Assets (%)	3.99	2.1	19.08	17.56	16.53	22.78	21.43	19.49	17.46	29.97	25.9	24.1	17.74	18.89	18.57
Total Debt/Equity (%)	6.81	4.15	27.6	26.6	24.87	43.01	45.06	38.36	54.46	79.35	61.92	44.16	68.31	92.3	130.17
Total Debt/Capital (%)	-4.75	-5.1	-170.81	-141.16	-132.91	-125.93	-99.95	-99.23	-86.22	-274.9	-185.92	-157.46	-176.08	-91.95	-80.33
Total Debt/Total Assets (%)	5.46	3.33	19.53	18.24	17.28	24.62	25.66	23.38	27.41	39.56	34.17	26.85	37.56	43.42	49.23
Net Debt to Equity	-11.75	-29	6.02	5.62	14.51	36.06	36.59	31.02	48.83	39.88	19.17	11.48	33.25	50.14	83.17
Net Debt/Capital (%)	7.25	25.32	-15.96	-14.11	-49.9	-87.71	-68.32	-67.44	-70.97	-90.39	-34.59	-27.78	-74.29	-47.14	-50.43
EBITDA	2	4	3	1	2	1	1	3	-1	3	2	4	-1	-3	-1
EBITDA-CapEx	1	2	-1	-3	-3	-4	- -	2	-2	3	1	3	-2	-3	-1
Operating Income (Loss)	1	3	2	- -	- -	-1	-1	1	-3	1	- -	3	-3	-5	-3

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	03/31/2011	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025

Cash Ratio	0.94	1.51	1.51	1.04	0.52	0.2	0.23	0.23	0.09	0.38	0.65	0.54	0.12	0.08	0.03
Current Ratio	3.86	3.4	4.23	3.03	2.73	2.07	2.03	2.39	1.54	2.32	2.6	3.37	1.67	1.24	1.03
Quick Ratio	2.14	2.21	2.82	1.61	1.27	0.69	0.59	0.7	0.3	0.72	1.07	1.3	0.28	0.33	0.22
CFO/Avg Current Liab	0.78	1.83	0.61	0.61	0.29	0.14	0.2	0.25	-0.11	0.16	0.39	0.45	-0.32	-0.05	-0.13
Common Equity/Total Assets	-120.43	-68.59	-30.96	-31.16	-30.29	-44.17	-51.34	-46.94	-59.2	-53.95	-52.55	-43.91	-58.9	-90.64	-110.52
Long-Term Debt/Equity (%)	4.98	2.62	26.96	25.61	23.78	39.79	37.63	31.98	34.69	60.13	46.93	39.63	32.27	40.16	49.11
Long-Term Debt/Capital (%)	-3.47	-3.22	-166.89	-135.89	-127.09	-116.51	-83.46	-82.73	-54.92	-208.31	-140.93	-141.3	-83.18	-40.01	-30.31
Long-Term Debt/Total Assets (%)	3.99	2.1	19.08	17.56	16.53	22.78	21.43	19.49	17.46	29.97	25.9	24.1	17.74	18.89	18.57
Total Debt/Equity (%)	6.81	4.15	27.6	26.6	24.87	43.01	45.06	38.36	54.46	79.35	61.92	44.16	68.31	92.3	130.17
Total Debt/Capital (%)	-4.75	-5.1	-170.81	-141.16	-132.91	-125.93	-99.95	-99.23	-86.22	-274.9	-185.92	-157.46	-176.08	-91.95	-80.33
Total Debt/Total Assets (%)	5.46	3.33	19.53	18.24	17.28	24.62	25.66	23.38	27.41	39.56	34.17	26.85	37.56	43.42	49.23
CFO/Total Liabilities	63.55	134.69	22.69	22.8	12.81	5.59	9.72	12.84	-5.76	7.8	17.34	18.94	-15.69	-3.42	-8.17
CFO/CapEx	3.4	2.5	0.49	0.52	0.29	0.17	1.44	1.48	-1.97	5.55	3.16	1.87	-1.97	-1.19	-4.83
Altman's Z-Score	4.35	10.07	2.92	2.65	3.94	1.82	1.59	2.47	0.83	1.13	1.55	2.19	0.09	-0.78	-0.76

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	03/31/2011	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025

Accounts Receivable Turnover	7.15	9.82	8.95	9.18	12	10.2	12.52	14.22	13	15.43	14.09	11.79	9.28	13.44	11.94
Days Sales Outstanding	51.03	37.15	40.8	39.78	30.41	35.77	29.15	25.67	28.07	23.66	25.9	30.95	39.33	27.16	30.56
Inventory Turnover	2.77	4.14	4.58	3.76	3.51	2.95	2.5	2.44	1.94	1.83	2.35	2.51	1.58	1.9	2.3
Days Inventory Outstanding	131.58	88.14	79.67	96.99	103.96	123.66	145.76	149.61	187.79	198.93	155.33	145.67	231.27	192.03	158.94
Accounts Payable Turnover	9.34	10.63	9.34	7.46	6.48	6.4	5.2	6.06	5.2	4.98	9.04	10.09	10.14	11.16	9.75
Accounts Payable Turnover Days	39.06	34.33	39.07	48.94	56.32	57.06	70.18	60.2	70.16	73.29	40.39	36.18	35.98	32.69	37.45
Cash Conversion Cycle	143.54	90.96	81.41	87.83	78.06	102.37	104.72	115.09	145.7	149.3	140.84	140.44	234.62	186.49	152.05
Inventory to Cash Days	-80.55	-50.99	-38.87	-57.21	-73.55	-87.89	-116.61	-123.94	-159.72	-175.26	-129.43	-114.72	-191.94	-164.87	-128.38
Inventories	4	4	4	5	6	8	8	9	11	10	8	9	11	7	8
Raw Materials	1	1	1	1	1	1	- -	1	1	1	1	2	2	1	1
Work In Process	- -	- -	- -	1	2	4	2	3	4	4	3	3	2	2	1
Finished Goods	3	3	2	3	3	4	5	6	7	5	4	5	7	4	5
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	03/31/2011	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025

Market Capitalization	18	55	24	29	46	28	22	29	19	12	20	21	5	2	2
- Cash & Cash Equivalents	2	5	4	4	2	1	1	1	1	2	4	3	1	1	- -
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1	1	6	5	5	8	7	7	8	13	11	9	11	11	12
Enterprise Value	17	50	26	30	50	34	28	35	26	22	27	27	16	12	14
Total Capital	-16	-12	-3	-4	-4	-6	-7	-7	-9	-5	-6	-5	-6	-12	-14
Total Debt/Capital (%)	-4.75	-5.1	-170.81	-141.16	-132.91	-125.93	-99.95	-99.23	-86.22	-274.9	-185.92	-157.46	-176.08	-91.95	-80.33
Total Debt / EV	0.04	0.01	0.22	0.18	0.11	0.22	0.27	0.2	0.31	0.56	0.39	0.32	0.71	0.9	0.84
EV/Sales	1.01	2.05	0.93	1.06	1.47	1.07	0.87	1.02	0.87	0.7	0.83	0.74	0.68	0.52	0.57
EV/EBITDA	9.1	13.79	8.21	32.39	31.67	46.56	21.5	10.55	- -	6.84	12.48	5.95	- -	- -	- -
EV/EBIT	13.59	17.03	11.27	- -	153.94	- -	- -	24.56	- -	21.3	319.23	10.4	- -	- -	- -
EV/Cash Flow to Firm	9.18	9.79	12.7	12.98	41.37	17.95	15.92	16.95	- -	11.9	9.1	9.68	- -	56.56	- -
EV/Free Cash Flow to Firm	7.19	7.02	4.33	4.65	9.22	5.51	10.73	11.37	154.85	10.63	7.23	6.63	- -	20.34	- -
Diluted Market Cap	19	56	25	29	46	28	22	29	19	12	20	21	5	2	2
Diluted Enterprise Value	17	52	26	30	50	34	28	35	26	22	27	27	16	12	14
EV per Share	3.18	9.31	4.69	5.45	8.98	6.13	4.92	6.08	4.49	3.77	4.42	4.35	2.51	1.85	1.95
TTM Sales	17	25	27	28	34	32	32	34	30	32	32	36	23	23	24
TTM EBITDA	2	4	3	1	2	1	1	3	-1	3	2	4	-1	-3	-1
TTM Operating Income	1	3	2	- -	- -	-1	-1	1	-3	1	- -	3	-3	-5	-3
TTM Cash Flow to Firm	2	5	2	2	1	2	2	2	- -	2	3	3	-2	- -	-1
TTM Free Cash Flow to Firm	2	7	6	6	5	6	3	3	- -	2	4	4	-1	1	- -

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	03/31/2011	03/31/2012	03/31/2013	03/31/2014	03/31/2015	03/31/2016	03/31/2017	03/31/2018	03/31/2019	03/31/2020	03/31/2021	03/31/2022	03/31/2023	03/31/2024	03/31/2025

Price/Free Cash Flow	8.19	7.88	4.37	4.58	8.62	5.51	10.54	11.82	-45.32	8.37	6.35	5.7	-5.31	-25.68	-2.62
EV/EBIT	13.59	17.03	11.27	- -	153.94	- -	- -	24.56	- -	21.3	319.23	10.4	- -	- -	- -
Enterprise Value	17	50	26	30	50	34	28	35	26	22	27	27	16	12	14
Low Price	1.4	2.85	4.25	4.21	4.27	3.6	3.32	3.25	3	1.82	1.91	2.56	0.82	0.12	0.26
EV/Sales	1.01	2.05	0.93	1.06	1.47	1.07	0.87	1.02	0.87	0.7	0.83	0.74	0.68	0.52	0.57
EV/EBITDA	9.1	13.79	8.21	32.39	31.67	46.56	21.5	10.55	- -	6.84	12.48	5.95	- -	- -	- -
Price/Earnings	10.58	15.1	5.86	- -	- -	- -	- -	28.41	- -	31.7	21.77	9.63	- -	- -	- -
Price/Earnings Average	8.13	7.86	8.19	-69.69	-1,309.97	-8.65	-20.23	23.35	-5.96	39.83	18.3	8.7	-3.8	-0.99	-1.03
Price/Earnings High	14.46	17.65	14.4	-88.82	-2,126.34	-13.78	-27.01	32.19	-9.16	53.4	41.5	11.29	-6.49	-1.44	-1.96
Price/Earnings Low	4.33	4.25	5.57	-54.91	-981.57	-4.57	-15.46	18.1	-4.85	28.01	12.6	7.32	-1.49	-0.15	-0.57
Price/Book Value	-1.1	-4.2	-2.76	-3.07	-4.96	-2.02	-1.46	-2.09	-1.08	-0.72	-1.23	-1.47	-0.31	-0.08	-0.1
Price/Book Value Average	-0.84	-2.19	-3.86	-3.13	-3.36	-2.76	-1.64	-1.72	-1.22	-0.9	-1.04	-1.33	-0.75	-0.23	-0.13
Price/Book Value High	-1.5	-4.91	-6.77	-3.99	-5.45	-4.4	-2.19	-2.37	-1.88	-1.21	-2.35	-1.73	-1.27	-0.33	-0.24
Price/Book Value Low	-0.45	-1.18	-2.62	-2.47	-2.52	-1.46	-1.25	-1.33	-1	-0.63	-0.71	-1.12	-0.29	-0.03	-0.07
Price/Tangible Book Value	1.65	3.59	1.21	1.4	2.16	1.56	1.31	1.61	1.26	0.77	1.18	1.06	0.34	0.16	0.28
Price/Tangible Book Value Average	1.27	1.87	1.69	1.42	1.46	2.13	1.48	1.32	1.44	0.97	0.99	0.96	0.8	0.44	0.37
Price/Tangible Book Value High	2.25	4.2	2.96	1.82	2.38	3.4	1.98	1.82	2.21	1.3	2.24	1.25	1.37	0.64	0.71
Price/Tangible Book Value Low	0.67	1.01	1.15	1.12	1.1	1.13	1.13	1.02	1.17	0.68	0.68	0.81	0.31	0.07	0.21
Price/Sales	1.09	2.23	0.89	1.02	1.37	0.87	0.68	0.85	0.62	0.38	0.62	0.58	0.24	0.08	0.1
Price/Sales Average	0.84	1.16	1.24	1.04	0.93	1.19	0.77	0.7	0.71	0.48	0.52	0.52	0.56	0.23	0.14
Price/Sales High	1.49	2.6	2.18	1.32	1.51	1.9	1.02	0.97	1.09	0.65	1.18	0.68	0.96	0.33	0.26
Price/Sales Low	0.45	0.63	0.84	0.82	0.7	0.63	0.59	0.54	0.58	0.34	0.36	0.44	0.22	0.03	0.08
Price/Cash Flow	10.48	10.79	12.85	13.36	38.45	37.31	17.86	19.54	-22.26	9.87	8.35	8.72	-2.61	-4.18	-2.07
Price/Cash Flow Average	8.05	5.61	17.99	13.62	26.03	51.01	20.14	16.06	-25.32	12.4	7.01	7.88	-6.22	-11.45	-2.76
Price/Cash Flow High	14.32	12.61	31.6	17.36	42.25	81.29	26.9	22.14	-38.91	16.63	15.91	10.22	-10.63	-16.65	-5.28
Price/Cash Flow Low	4.29	3.04	12.22	10.73	19.5	26.98	15.4	12.45	-20.61	8.72	4.83	6.63	-2.44	-1.72	-1.54
Price/Free Cash Flow Average	6.29	4.1	6.11	4.67	5.84	7.53	11.89	9.71	-51.56	10.51	5.34	5.15	-12.66	-70.42	-3.48
Price/Free Cash Flow High	11.19	9.21	10.73	5.95	9.47	12	15.88	13.39	-79.22	14.1	12.1	6.68	-21.63	-102.38	-6.65
Price/Free Cash Flow Low	3.35	2.22	4.15	3.68	4.37	3.98	9.09	7.53	-41.96	7.39	3.67	4.33	-4.96	-10.59	-1.94
EV/Sales Average	0.76	0.98	1.29	1.08	1.02	1.4	0.96	0.87	0.95	0.8	0.73	0.69	1	0.67	0.6
EV/Sales High	1.41	2.42	2.23	1.36	1.6	2.1	1.21	1.13	1.33	0.97	1.39	0.84	1.4	0.77	0.73
EV/Sales Low	0.37	0.45	0.89	0.86	0.79	0.83	0.78	0.71	0.82	0.66	0.57	0.61	0.66	0.48	0.54
EV/EBITDA Average	6.83	6.6	11.33	33	22.08	60.45	23.65	8.98	-26.38	7.79	10.99	5.51	-28.19	-6.14	-23.21
EV/EBITDA High	12.69	16.33	19.62	41.71	34.6	91.14	30.01	11.73	-36.95	9.39	20.92	6.75	-39.41	-7.08	-27.98
EV/EBITDA Low	3.31	3.01	7.83	26.27	17.04	36.09	19.18	7.34	-22.72	6.4	8.55	4.84	-18.56	-4.37	-20.9
EV/EBIT Average	10.2	8.14	15.56	-185.52	107.32	-56.6	-44.94	20.9	-9.59	24.28	281.19	9.62	-7.96	-3.36	-5.82
EV/EBIT High	18.95	20.16	26.93	-234.51	168.17	-85.34	-57.03	27.3	-13.42	29.27	535.29	11.79	-11.13	-3.87	-7.02
EV/EBIT Low	4.95	3.72	10.74	-147.67	82.84	-33.79	-36.45	17.09	-8.25	19.94	218.75	8.46	-5.24	-2.39	-5.24
Last Price	3.42	10.13	4.47	5.24	8.42	4.98	3.85	5.1	3.24	2.06	3.3	3.37	0.88	0.29	0.35
High Price	4.67	11.84	10.99	6.81	9.25	10.85	5.8	5.78	5.66	3.47	6.29	3.95	3.57	1.16	0.89
Enterprise Value Average	13	24	35	30	35	44	31	30	29	26	24	25	23	15	15
Enterprise Value High	24	60	61	38	54	67	39	39	40	31	45	30	33	18	18
Enterprise Value Low	6	11	24	24	27	27	25	24	25	21	18	22	15	11	13

Shares Outstanding	5	5	5	5	6	6	6	6	6	6	6	6	6	7	7
Diluted Weighted Avg Shares	5	6	6	5	6	6	6	6	6	6	6	6	6	7	7
Basic Weighted Avg Shares	5	5	5	5	6	6	6	6	6	6	6	6	6	7	7
Revenue per Share	3.14	4.55	5.03	5.14	6.13	5.71	5.66	5.98	5.19	5.36	5.33	5.84	3.71	3.53	3.42
EBITDA per Share	0.35	0.68	0.57	0.17	0.28	0.13	0.23	0.58	-0.19	0.55	0.35	0.73	-0.13	-0.38	-0.09
Operating Income per Share	0.23	0.55	0.42	-0.03	0.06	-0.14	-0.12	0.25	-0.52	0.18	0.01	0.42	-0.47	-0.7	-0.35
Basic EPS, GAAP	0.32	0.67	0.76	-0.08	- -	-0.79	-0.21	0.18	-0.62	0.06	0.15	0.35	-0.55	-0.81	-0.45
Basic EPS from Cont Ops	0.32	0.67	0.76	-0.08	- -	-0.79	-0.21	0.18	-0.62	0.06	0.15	0.35	-0.55	-0.81	-0.45
Diluted EPS, GAAP	0.32	0.66	0.74	-0.08	- -	-0.79	-0.21	0.18	-0.62	0.06	0.15	0.35	-0.55	-0.81	-0.45
Diluted EPS from Cont Ops	0.32	0.66	0.74	-0.08	- -	-0.79	-0.21	0.18	-0.62	0.06	0.15	0.35	-0.55	-0.81	-0.45
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.33	0.94	0.35	0.39	0.22	0.13	0.22	0.26	-0.15	0.21	0.4	0.39	-0.34	-0.07	-0.17
Free Cash Flow per Basic Share	0.23	0.56	-0.37	-0.36	-0.54	-0.64	0.07	0.08	-0.22	0.17	0.27	0.18	-0.51	-0.13	-0.2
Cash & Equivalents per Share	0.39	0.93	0.8	0.79	0.4	0.22	0.25	0.23	0.14	0.41	0.62	0.42	0.16	0.11	0.04
Book Value per Share	-3.12	-2.41	-1.62	-1.71	-1.7	-2.46	-2.65	-2.44	-3.01	-2.88	-2.67	-2.29	-2.8	-3.49	-3.67
Tangible Book Value per Share	2.08	2.82	3.71	3.75	3.89	3.19	2.94	3.17	2.56	2.66	2.81	3.17	2.62	1.81	1.26

Cyanotech Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)