Cardinal Infrastructure Group (CDNL) Financials

$48.85 0.00 (0.00%)

Closing price 05/22/2026 04:00 PM Eastern

Extended Trading

$48.62 -0.23 (-0.47%)

As of 05/22/2026 06:45 PM Eastern

Annual Income Statements for Cardinal Infrastructure Group

This table shows Cardinal Infrastructure Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	21	21	23
Consolidated Net Income / (Loss)	24	28	31
Net Income / (Loss) Continuing Operations	24	28	31
Total Pre-Tax Income	24	30	33
Total Operating Income	30	36	40
Total Gross Profit	49	65	96
Total Revenue	248	315	456
Operating Revenue	248	315	456
Total Cost of Revenue	199	250	360
Operating Cost of Revenue	199	250	360
Total Operating Expenses	19	29	56
Selling, General & Admin Expense	6.50	11	24
Depreciation Expense	13	19	25
Amortization Expense	0.00	0.00	7.13
Other Special Charges / (Income)	-0.37	0.01	-0.16
Total Other Income / (Expense), net	-5.23	-6.28	-7.34
Interest Expense	3.99	4.83	6.83
Other Income / (Expense), net	-1.24	-1.46	-0.52
Income Tax Expense	0.00	1.35	1.97
Net Income / (Loss) Attributable to Noncontrolling Interest	3.72	6.94	8.41
Basic Earnings per Share	$0.00	$0.00	$0.00
Weighted Average Basic Shares Outstanding	0.00	0.00	0.00
Diluted Earnings per Share	$0.00	$0.00	$0.00
Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00
Weighted Average Basic & Diluted Shares Outstanding	-	-	42.87M

This table shows Cardinal Infrastructure Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q1 2026
Period end date	3/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	5.48	3.42
Consolidated Net Income / (Loss)	6.64	11
Net Income / (Loss) Continuing Operations	6.64	11
Total Pre-Tax Income	6.64	13
Total Operating Income	7.91	15
Total Gross Profit	17	34
Total Revenue	82	168
Operating Revenue	82	168
Total Cost of Revenue	65	133
Operating Cost of Revenue	65	133
Total Operating Expenses	8.61	19
Selling, General & Admin Expense	2.13	10
Depreciation Expense	5.07	5.70
Amortization Expense	1.53	3.57
Other Special Charges / (Income)	-0.11	-0.00
Total Other Income / (Expense), net	-1.27	-2.25
Interest Expense	1.03	2.25
Other Income / (Expense), net	-0.24	0.00
Income Tax Expense	0.00	1.05
Net Income / (Loss) Attributable to Noncontrolling Interest	1.16	8.06
Basic Earnings per Share	$0.00	$0.23
Weighted Average Basic Shares Outstanding	0.00	15.10M
Diluted Earnings per Share	$0.00	$0.23
Weighted Average Diluted Shares Outstanding	0.00	15.13M
Weighted Average Basic & Diluted Shares Outstanding	-	42.87M

This table details how cash moves in and out of Cardinal Infrastructure Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	5.83	14	76
Net Cash From Operating Activities	31	43	38
Net Cash From Continuing Operating Activities	31	43	38
Net Income / (Loss) Continuing Operations	24	28	31
Consolidated Net Income / (Loss)	24	28	31
Depreciation Expense	13	19	25
Amortization Expense	0.00	0.09	7.23
Non-Cash Adjustments To Reconcile Net Income	-4.91	0.34	-29
Changes in Operating Assets and Liabilities, net	-1.69	-4.76	2.97
Net Cash From Investing Activities	-22	-21	-102
Net Cash From Continuing Investing Activities	-22	-21	-102
Purchase of Property, Plant & Equipment	-12	-21	-44
Acquisitions	-11	-0.52	-59
Sale of Property, Plant & Equipment	0.80	0.30	0.45
Sale and/or Maturity of Investments	0.00	0.00	1.26
Other Investing Activities, net	0.00	0.00	-0.00
Net Cash From Financing Activities	-2.69	-7.96	140
Net Cash From Continuing Financing Activities	-2.69	-7.96	140
Repayment of Debt	-9.39	-56	-121
Repurchase of Common Equity	0.00	0.00	-163
Payment of Dividends	-9.16	-13	-23
Issuance of Debt	18	64	193
Issuance of Common Equity	0.00	0.00	258
Other Financing Activities, net	-1.66	-2.61	-4.48
Cash Interest Paid	3.99	4.57	6.54
Cash Income Taxes Paid	0.00	0.00	0.00

This table details how cash moves in and out of Cardinal Infrastructure Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q1 2026
Period end date	3/31/2025	3/31/2026
Net Change in Cash & Equivalents	1.86	-53
Net Cash From Operating Activities	12	9.32
Net Cash From Continuing Operating Activities	12	9.32
Net Income / (Loss) Continuing Operations	6.64	11
Consolidated Net Income / (Loss)	6.64	11
Depreciation Expense	5.07	5.70
Amortization Expense	1.53	3.70
Non-Cash Adjustments To Reconcile Net Income	-1.43	-20
Changes in Operating Assets and Liabilities, net	0.28	7.96
Net Cash From Investing Activities	-24	-135
Net Cash From Continuing Investing Activities	-24	-135
Purchase of Property, Plant & Equipment	-10	-9.32
Acquisitions	-14	-126
Sale of Property, Plant & Equipment	0.14	0.06
Sale and/or Maturity of Investments	0.00	0.00
Other Investing Activities, net	0.00	0.00
Net Cash From Financing Activities	14	72
Net Cash From Continuing Financing Activities	14	72
Repayment of Debt	-4.28	-3.38
Repurchase of Common Equity	0.00	0.00
Payment of Dividends	-2.87	0.00
Issuance of Debt	22	80
Issuance of Common Equity	0.00	0.00
Other Financing Activities, net	-0.60	-4.31

This table presents Cardinal Infrastructure Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2025
Period end date	12/31/2024	12/31/2025
Total Assets	140	395
Total Current Assets	77	216
Cash & Equivalents	21	97
Accounts Receivable	38	61
Prepaid Expenses	0.37	1.89
Other Current Assets	18	55
Plant, Property, & Equipment, net	50	85
Total Noncurrent Assets	13	94
Goodwill	7.05	24
Intangible Assets	0.00	16
Noncurrent Deferred & Refundable Income Taxes	0.00	46
Other Noncurrent Operating Assets	5.11	8.93
Total Liabilities & Shareholders' Equity	140	395
Total Liabilities	117	255
Total Current Liabilities	71	92
Short-Term Debt	11	6.13
Accounts Payable	38	61
Accrued Expenses	0.79	2.96
Current Deferred Revenue	14	11
Current Employee Benefit Liabilities	0.00	3.97
Other Current Liabilities	5.88	7.16
Total Noncurrent Liabilities	46	163
Long-Term Debt	37	113
Other Noncurrent Operating Liabilities	9.59	50
Commitments & Contingencies	0.00	0.00
Total Equity & Noncontrolling Interests	23	140
Total Preferred & Common Equity	12	58
Preferred Stock	0.00	0.00
Total Common Equity	12	58
Common Stock	12	58
Retained Earnings	0.00	0.86
Accumulated Other Comprehensive Income / (Loss)	-	0.00
Noncontrolling Interest	12	81

This table presents Cardinal Infrastructure Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2026
Period end date	3/31/2026
Total Assets	657
Total Current Assets	228
Cash & Equivalents	44
Accounts Receivable	97
Prepaid Expenses	1.69
Other Current Assets	86
Plant, Property, & Equipment, net	126
Total Noncurrent Assets	304
Goodwill	129
Intangible Assets	109
Noncurrent Deferred & Refundable Income Taxes	45
Other Noncurrent Operating Assets	21
Total Liabilities & Shareholders' Equity	657
Total Liabilities	395
Total Current Liabilities	132
Short-Term Debt	10
Accounts Payable	95
Accrued Expenses	8.17
Current Deferred Revenue	9.67
Current Employee Benefit Liabilities	0.20
Other Current Liabilities	8.97
Total Noncurrent Liabilities	263
Long-Term Debt	186
Other Noncurrent Operating Liabilities	77
Commitments & Contingencies	0.00
Total Equity & Noncontrolling Interests	262
Total Preferred & Common Equity	70
Preferred Stock	0.00
Total Common Equity	70
Common Stock	66
Retained Earnings	4.28
Accumulated Other Comprehensive Income / (Loss)	-0.15
Noncontrolling Interest	192

This table displays calculated financial ratios and metrics derived from Cardinal Infrastructure Group's official financial filings.

Metric	2023	2024	2025
Period end date	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	0.00
DEI Adjusted Shares Outstanding	0.00	0.00	0.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.00
Growth Metrics	-	-	-
Profitability Metrics	-	-	-
Net Operating Profit after Tax (NOPAT)	30	34	38
Return On Investment Capital (ROIC_SIMPLE)	-	48.11%	14.68%
Earnings before Interest and Taxes (EBIT)	28	34	40
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	41	53	72
Valuation Ratios	-	-	-
Leverage & Solvency	-	-	-
Liquidity Ratios	-	-	-
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-15	-74
Efficiency Ratios	-	-	-
Capital & Investment Metrics	-	-	-
Invested Capital	0.00	50	162
Increase / (Decrease) in Invested Capital	0.00	50	112
Book Value per Share	$0.00	$1.02	$1.36
Tangible Book Value per Share	$0.00	$0.41	$0.45
Total Capital	0.00	71	259
Total Debt	0.00	48	119
Total Long-Term Debt	0.00	37	113
Net Debt	0.00	26	22
Capital Expenditures (CapEx)	11	20	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-2.97	33
Debt-free Net Working Capital (DFNWC)	0.00	18	130
Net Working Capital (NWC)	0.00	6.84	124
Net Nonoperating Expense (NNE)	5.23	6.00	6.91
Net Nonoperating Obligations (NNO)	0.00	26	22
Total Depreciation and Amortization (D&A)	13	19	32
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	42.87M
Normalized Net Operating Profit after Tax (NOPAT)	20	34	38
Debt Service Ratios	-	-	-
Payout Ratios	-	-	-

This table displays calculated financial ratios and metrics derived from Cardinal Infrastructure Group's official financial filings.

Metric	Q1 2025	Q1 2026
Period end date	3/31/2025	3/31/2026
DEI Shares Outstanding	0.00	42,866,859.00
DEI Adjusted Shares Outstanding	0.00	42,866,859.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.08
Growth Metrics	-	-
Revenue Growth	0.00%	104.78%
EBITDA Growth	0.00%	69.49%
EBIT Growth	0.00%	92.75%
NOPAT Growth	0.00%	71.17%
Net Income Growth	0.00%	72.86%
EPS Growth	0.00%	0.00%
Operating Cash Flow Growth	0.00%	-22.95%
Free Cash Flow Firm Growth	0.00%	0.00%
Invested Capital Growth	0.00%	0.00%
Revenue Q/Q Growth	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%
Profitability Metrics	-	-
Gross Margin	20.20%	20.41%
EBITDA Margin	17.44%	14.44%
Operating Margin	9.67%	8.82%
EBIT Margin	9.37%	8.82%
Profit (Net Income) Margin	8.12%	6.85%
Tax Burden Percent	100.00%	91.60%
Interest Burden Percent	86.62%	84.80%
Effective Tax Rate	0.00%	8.40%
Return on Invested Capital (ROIC)	0.00%	21.15%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	18.44%
Return on Net Nonoperating Assets (RNNOA)	0.00%	10.70%
Return on Equity (ROE)	0.00%	31.85%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	7.27%
Return on Assets (ROA)	0.00%	5.65%
Return on Common Equity (ROCE)	0.00%	8.56%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	7.91	14
NOPAT Margin	9.67%	8.08%
Net Nonoperating Expense Percent (NNEP)	0.00%	2.71%
Return On Investment Capital (ROIC_SIMPLE)	-	2.96%
Cost of Revenue to Revenue	79.80%	79.59%
SG&A Expenses to Revenue	2.60%	6.05%
R&D to Revenue	0.00%	0.00%
Operating Expenses to Revenue	10.53%	11.59%
Earnings before Interest and Taxes (EBIT)	7.67	15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14	24
Valuation Ratios	-	-
Price to Book Value (P/BV)	0.00	8.52
Price to Tangible Book Value (P/TBV)	0.00	0.00
Price to Revenue (P/Rev)	0.00	1.11
Price to Earnings (P/E)	0.00	29.08
Dividend Yield	0.00%	0.00%
Earnings Yield	0.00%	3.44%
Enterprise Value to Invested Capital (EV/IC)	0.00	2.28
Enterprise Value to Revenue (EV/Rev)	0.00	1.74
Enterprise Value to EBITDA (EV/EBITDA)	0.00	11.47
Enterprise Value to EBIT (EV/EBIT)	0.00	20.08
Enterprise Value to NOPAT (EV/NOPAT)	0.00	21.63
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	26.86
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00
Leverage & Solvency	-	-
Debt to Equity	0.00	0.75
Long-Term Debt to Equity	0.00	0.71
Financial Leverage	0.00	0.58
Leverage Ratio	0.00	2.51
Compound Leverage Factor	0.00	2.13
Debt to Total Capital	0.00%	42.80%
Short-Term Debt to Total Capital	0.00%	2.21%
Long-Term Debt to Total Capital	0.00%	40.59%
Preferred Equity to Total Capital	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	41.83%
Common Equity to Total Capital	0.00%	15.37%
Debt to EBITDA	0.00	2.38
Net Debt to EBITDA	0.00	1.85
Long-Term Debt to EBITDA	0.00	2.26
Debt to NOPAT	0.00	4.50
Net Debt to NOPAT	0.00	3.49
Long-Term Debt to NOPAT	0.00	4.26
Altman Z-Score	0.00	1.99
Noncontrolling Interest Sharing Ratio	0.00%	73.13%
Liquidity Ratios	-	-
Current Ratio	0.00	1.73
Quick Ratio	0.00	1.07
Cash Flow Metrics	-	-
Free Cash Flow to Firm (FCFF)	0.00	-401
Operating Cash Flow to CapEx	118.23%	100.60%
Free Cash Flow to Firm to Interest Expense	0.00	-178.33
Operating Cash Flow to Interest Expense	11.78	4.15
Operating Cash Flow Less CapEx to Interest Expense	1.82	0.02
Efficiency Ratios	-	-
Asset Turnover	0.00	0.82
Accounts Receivable Turnover	0.00	5.61
Inventory Turnover	0.00	0.00
Fixed Asset Turnover	0.00	4.32
Accounts Payable Turnover	0.00	4.52
Days Sales Outstanding (DSO)	0.00	65.10
Days Inventory Outstanding (DIO)	0.00	0.00
Days Payable Outstanding (DPO)	0.00	80.80
Cash Conversion Cycle (CCC)	0.00	-15.70
Capital & Investment Metrics	-	-
Invested Capital	0.00	414
Invested Capital Turnover	0.00	2.62
Increase / (Decrease) in Invested Capital	0.00	414
Enterprise Value (EV)	0.00	943
Market Capitalization	242	600
Book Value per Share	$0.00	$1.64
Tangible Book Value per Share	$0.00	($3.90)
Total Capital	0.00	458
Total Debt	0.00	196
Total Long-Term Debt	0.00	186
Net Debt	0.00	152
Capital Expenditures (CapEx)	10	9.26
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	62
Debt-free Net Working Capital (DFNWC)	0.00	106
Net Working Capital (NWC)	0.00	96
Net Nonoperating Expense (NNE)	1.27	2.06
Net Nonoperating Obligations (NNO)	0.00	152
Total Depreciation and Amortization (D&A)	6.60	9.40
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	11.51%
Debt-free Net Working Capital to Revenue	0.00%	19.63%
Net Working Capital to Revenue	0.00%	17.76%
Earnings Adjustments	-	-
Adjusted Basic Earnings per Share	$0.00	$0.23
Adjusted Weighted Average Basic Shares Outstanding	0.00	15.10M
Adjusted Diluted Earnings per Share	$0.00	$0.23
Adjusted Weighted Average Diluted Shares Outstanding	0.00	15.13M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	42.87M
Normalized Net Operating Profit after Tax (NOPAT)	5.46	14
Normalized NOPAT Margin	6.67%	8.08%
Pre Tax Income Margin	8.12%	7.48%
Debt Service Ratios	-	-
EBIT to Interest Expense	7.47	6.58
NOPAT to Interest Expense	7.71	6.03
EBIT Less CapEx to Interest Expense	-2.49	2.46
NOPAT Less CapEx to Interest Expense	-2.26	1.90
Payout Ratios	-	-
Dividend Payout Ratio	0.00%	57.23%
Augmented Payout Ratio	0.00%	511.24%

Financials Breakdown Chart

Cardinal Infrastructure Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Cardinal Infrastructure Group's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Cardinal Infrastructure Group's net income appears to be on an upward trend, with a most recent value of $31.09 million in 2025, rising from $24.30 million in 2023. The previous period was $28.30 million in 2024. See Cardinal Infrastructure Group's forecast for analyst expectations on what's next for the company.

Cardinal Infrastructure Group's total operating income in 2025 was $40.40 million, based on the following breakdown:

Total Gross Profit: $96.15 million
Total Operating Expenses: $55.74 million

Over the last 2 years, Cardinal Infrastructure Group's total revenue changed from $247.92 million in 2023 to $456.05 million in 2025, a change of 83.9%.

Cardinal Infrastructure Group's total liabilities were at $255.05 million at the end of 2025, a 118.1% increase from 2024, and a 118.1% increase since 2024.

In the past 1 years, Cardinal Infrastructure Group's cash and equivalents has ranged from $20.92 million in 2024 to $97.15 million in 2025, and is currently $97.15 million as of their latest financial filing in 2025.

Over the last 2 years, Cardinal Infrastructure Group's book value per share changed from 0.00 in 2023 to 1.36 in 2025, a change of 136.4%.

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Financial statements for NASDAQ:CDNL last updated on 5/14/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Cardinal Infrastructure Group (CDNL) Financials

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Cardinal Infrastructure Group Financials - Frequently Asked Questions

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Cardinal Infrastructure Group (CDNL) Financials

Annual Income Statements for Cardinal Infrastructure Group

Quarterly Income Statements for Cardinal Infrastructure Group

Annual Cash Flow Statements for Cardinal Infrastructure Group

Quarterly Cash Flow Statements for Cardinal Infrastructure Group

Annual Balance Sheets for Cardinal Infrastructure Group

Quarterly Balance Sheets for Cardinal Infrastructure Group

Annual Metrics And Ratios for Cardinal Infrastructure Group

Quarterly Metrics And Ratios for Cardinal Infrastructure Group

Financials Breakdown Chart

Cardinal Infrastructure Group Financials - Frequently Asked Questions

When does Cardinal Infrastructure Group's fiscal year end?

How has Cardinal Infrastructure Group's net income changed over the last 2 years?

What is Cardinal Infrastructure Group's operating income?

How has Cardinal Infrastructure Group's revenue changed over the last 2 years?

How much debt does Cardinal Infrastructure Group have?

How much cash does Cardinal Infrastructure Group have?

How has Cardinal Infrastructure Group's book value per share changed over the last 2 years?

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