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Cadre (CDRE) Financials

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$26.28 -0.42 (-1.58%)
Closing price 03:59 PM Eastern
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$26.23 -0.05 (-0.18%)
As of 07:30 PM Eastern
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Annual Income Statements for Cadre

Annual Income Statements for Cadre

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 38 13 5.82 39 36 44
Consolidated Net Income / (Loss)		 38 13 5.82 39 36 44
Net Income / (Loss) Continuing Operations		 38 13 5.82 39 36 44
Total Pre-Tax Income 		28 19 9.37 53 54 62
Total Operating Income		 50 52 17 57 67 67
Total Gross Profit		 153 171 176 201 233 260
Total Revenue		 405 427 458 483 568 610
Operating Revenue		 405 427 458 483 568 610
Total Cost of Revenue		 252 257 282 282 334 351
Operating Cost of Revenue		 252 257 282 282 334 351
Total Operating Expenses		 103 119 159 144 167 192
Selling, General & Admin Expense		 107 115 153 141 158 183
Other Operating Expenses / (Income)		 -9.32 0.58 1.48 1.50 2.39 1.45
Restructuring Charge		 5.82 3.43 4.36 2.19 6.01 7.70
Total Other Income / (Expense), net		 -22 -33 -7.34 -3.60 -13 -5.03
Interest & Investment Income		 - - - -4.53 -7.82 -12
Other Income / (Expense), net		 2.66 -0.95 -1.14 0.94 -4.72 7.46
Income Tax Expense		 -11 6.53 3.55 14 18 18
Basic Earnings per Share		 $1.40 $0.44 $0.16 $1.03 $0.90 $1.08
Weighted Average Basic Shares Outstanding		 27.48M 28.60M 36.11M 37.53M 39.95M 40.87M
Diluted Earnings per Share		 $1.40 $0.44 $0.16 $1.02 $0.90 $1.02
Weighted Average Diluted Shares Outstanding		 27.48M 28.60M 36.12M 37.92M 40.33M 43.43M
Weighted Average Basic & Diluted Shares Outstanding		 - 28.60M 37.33M 37.59M 40.61M 42.73M
Cash Dividends to Common per Share		 - - $0.08 $0.08 - $0.38

Quarterly Income Statements for Cadre

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 9.59 6.93 13 3.66 13 9.25 12 11 12 1.98 11
Consolidated Net Income / (Loss)		 9.59 6.93 13 3.66 13 9.25 12 11 12 1.98 11
Net Income / (Loss) Continuing Operations		 9.59 6.93 13 3.66 13 9.25 12 11 12 1.98 11
Total Pre-Tax Income 		12 8.90 18 4.99 23 13 17 15 18 2.83 17
Total Operating Income		 13 12 20 5.43 29 14 15 19 20 7.49 22
Total Gross Profit		 50 58 59 40 77 56 64 67 73 60 87
Total Revenue		 125 138 144 109 176 130 157 156 167 155 207
Operating Revenue		 125 138 144 109 176 130 157 156 167 155 207
Total Cost of Revenue		 75 80 86 69 99 74 93 89 95 95 120
Operating Cost of Revenue		 75 80 86 69 99 74 93 89 95 95 120
Total Operating Expenses		 37 46 39 35 48 42 50 48 52 53 65
Selling, General & Admin Expense		 35 41 39 34 45 42 45 46 51 49 63
Restructuring Charge		 1.06 3.09 0.02 0.52 2.39 0.70 3.33 2.22 1.46 1.84 1.45
Total Other Income / (Expense), net		 -0.26 -3.08 -2.34 -0.44 -6.69 -0.94 2.52 -3.83 -2.78 -4.66 -5.55
Interest & Investment Income		 - - - -1.99 - -2.23 -3.59 -3.03 - -4.27 -5.02
Other Income / (Expense), net		 0.54 -1.44 -0.34 1.56 -4.50 1.29 6.11 -0.80 0.86 -0.39 -0.53
Income Tax Expense		 2.82 1.97 5.05 1.34 9.73 3.36 5.00 3.90 5.93 0.86 5.51
Basic Earnings per Share		 $0.26 $0.18 $0.31 $0.09 $0.32 $0.23 $0.30 $0.27 $0.28 $0.05 $0.27
Weighted Average Basic Shares Outstanding		 37.53M 37.95M 40.61M 40.61M 39.95M 40.62M 40.66M 40.67M 40.87M 42.56M 42.81M
Diluted Earnings per Share		 $0.25 $0.18 $0.31 $0.09 $0.32 $0.23 $0.30 $0.27 $0.22 $0.05 $0.26
Weighted Average Diluted Shares Outstanding		 37.92M 38.55M 40.86M 40.95M 40.33M 40.98M 40.94M 40.98M 43.43M 43.36M 43.39M
Weighted Average Basic & Diluted Shares Outstanding		 37.59M 40.61M 40.61M 40.61M 40.61M 40.66M 40.66M 40.66M 42.73M 42.80M 42.82M

Annual Cash Flow Statements for Cadre

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.35 31 11 42 37 0.39
Net Cash From Operating Activities		 45 40 46 73 32 64
Net Cash From Continuing Operating Activities		 45 40 46 73 32 64
Net Income / (Loss) Continuing Operations		 38 13 5.82 39 36 44
Consolidated Net Income / (Loss)		 38 13 5.82 39 36 44
Depreciation Expense		 15 14 16 16 16 19
Amortization Expense		 2.22 3.19 5.00 0.48 4.97 2.62
Non-Cash Adjustments To Reconcile Net Income		 -15 15 34 8.83 11 9.78
Changes in Operating Assets and Liabilities, net		 5.16 -4.90 -14 9.52 -37 -11
Net Cash From Investing Activities		 20 -2.83 -60 -6.52 -147 -96
Net Cash From Continuing Investing Activities		 20 -2.83 -60 -6.52 -147 -96
Purchase of Property, Plant & Equipment		 -4.71 -2.83 -4.49 -6.73 -5.67 -6.86
Acquisitions		 - 0.00 -56 0.00 -142 -90
Sale of Property, Plant & Equipment		 12 0.00 0.41 0.21 0.06 0.08
Net Cash From Financing Activities		 -65 -6.60 24 -25 153 32
Net Cash From Continuing Financing Activities		 -65 -6.60 24 -25 153 32
Repayment of Debt		 -666 -531 -53 -9.97 -52 -14
Payment of Dividends		 0.00 -13 -12 -12 -14 -15
Issuance of Debt		 602 457 43 0.00 135 98
Issuance of Common Equity		 0.00 83 56 0.00 92 0.00
Other Financing Activities, net		 -0.45 -2.89 -10 -2.75 -8.18 -37
Effect of Exchange Rate Changes		 0.05 0.32 0.18 0.44 0.22 1.47
Cash Interest Paid		 - 13 6.11 10 14 18
Cash Income Taxes Paid		 - 1.16 1.40 8.73 24 25

Quarterly Cash Flow Statements for Cadre

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 18 -0.64 19 -13 32 8.50 4.04 13 -26 -82 14
Net Cash From Operating Activities		 27 2.14 11 -5.21 24 17 2.59 22 21 23 22
Net Cash From Continuing Operating Activities		 27 2.14 11 -5.21 24 17 2.59 22 21 23 22
Net Income / (Loss) Continuing Operations		 9.59 6.93 13 3.66 13 9.25 12 11 12 1.98 11
Consolidated Net Income / (Loss)		 9.59 6.93 13 3.66 13 9.25 12 11 12 1.98 11
Depreciation Expense		 3.35 3.94 4.62 3.76 4.10 3.86 4.68 5.38 4.73 5.73 6.17
Amortization Expense		 0.12 0.92 1.89 1.83 0.33 0.50 0.69 0.72 0.72 2.80 2.60
Non-Cash Adjustments To Reconcile Net Income		 1.98 3.48 2.41 0.33 4.79 1.22 -0.28 3.43 5.40 2.24 1.25
Changes in Operating Assets and Liabilities, net		 12 -13 -10 -15 1.52 2.57 -15 2.01 -1.33 9.78 0.71
Net Cash From Investing Activities		 -2.48 -143 -2.49 -0.99 -1.31 -1.31 -91 -0.85 -3.20 -156 -14
Net Cash From Continuing Investing Activities		 -2.48 -143 -2.49 -0.99 -1.31 -1.31 -91 -0.85 -3.20 -156 -14
Purchase of Property, Plant & Equipment		 -2.48 -1.34 -2.02 -1.02 -1.29 -1.31 -1.42 -0.85 -3.27 -2.68 -3.45
Acquisitions		 - -141 -0.52 - - 0.00 -90 - - -154 -10
Net Cash From Financing Activities		 -6.54 140 10 -7.05 9.84 -7.81 91 -7.59 -44 53 4.39
Net Cash From Continuing Financing Activities		 -6.54 140 10 -7.05 9.84 -7.81 91 -7.59 -44 53 4.39
Repayment of Debt		 -2.47 -8.84 -3.53 -3.50 -36 -2.81 -2.84 -3.73 -4.24 -4.09 -86
Payment of Dividends		 -3.01 -3.29 -3.55 -3.55 -3.55 -3.86 -3.86 -3.86 -3.86 -4.28 -4.28
Issuance of Debt		 - 86 - - 49 0.00 98 - - 63 95
Other Financing Activities, net		 -1.06 -7.12 -1.07 - - -1.14 -0.05 - -36 -1.24 -0.02
Effect of Exchange Rate Changes		 0.35 0.07 0.11 0.34 -0.30 0.23 1.70 -0.63 0.17 -0.86 1.25
Cash Interest Paid		 2.70 2.50 3.96 4.07 3.91 3.53 4.68 4.87 4.77 4.91 5.22
Cash Income Taxes Paid		 0.81 9.37 12 1.16 1.45 2.02 15 5.61 2.38 3.80 1.86

Annual Balance Sheets for Cadre

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 283 312 392 431 653 770
Total Current Assets		 117 160 197 246 328 366
Cash & Equivalents		 2.87 34 45 88 125 123
Restricted Cash		 - - - - 0.00 2.43
Accounts Receivable		 44 48 65 58 94 111
Inventories, net		 61 64 70 81 82 100
Prepaid Expenses		 6.67 10 10 12 19 15
Other Current Assets		 3.36 3.45 6.81 6.89 7.74 15
Plant, Property, & Equipment, net		 35 33 45 45 0.00 79
Total Noncurrent Assets		 130 119 150 141 280 325
Goodwill		 66 66 82 82 148 181
Intangible Assets		 51 42 51 43 108 115
Noncurrent Deferred & Refundable Income Taxes		 13 7.06 2.26 4.00 4.55 4.82
Other Noncurrent Operating Assets		 0.15 3.03 15 12 20 24
Total Liabilities & Shareholders' Equity		 283 312 392 431 653 770
Total Liabilities		 274 223 226 234 341 452
Total Current Liabilities		 62 75 79 95 94 104
Short-Term Debt		 3.50 13 12 12 11 16
Accounts Payable		 22 19 23 28 30 22
Accrued Expenses		 36 41 39 45 46 61
Current Deferred & Payable Income Tax Liabilities		 1.01 1.26 4.58 9.94 6.69 4.84
Total Noncurrent Liabilities		 212 149 147 139 247 348
Long-Term Debt		 209 147 137 128 212 291
Capital Lease Obligations		 - 0.00 4.97 3.19 11 15
Noncurrent Deferred & Payable Income Tax Liabilities		 2.09 1.30 3.51 4.84 19 30
Other Noncurrent Operating Liabilities		 0.55 0.72 1.19 2.97 5.75 12
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 8.85 89 166 197 312 318
Total Preferred & Common Equity		 8.85 89 166 197 312 318
Total Common Equity		 8.85 89 166 197 312 318
Common Stock		 49 128 207 213 307 283
Retained Earnings		 -37 -37 -43 -16 6.08 35
Accumulated Other Comprehensive Income / (Loss)		 -2.86 -1.92 2.09 0.63 -1.39 0.46

Quarterly Balance Sheets for Cadre

This table presents Cadre'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 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 389 400 421 599 621 617 656 794 792 880 917
Total Current Assets		 198 212 237 269 295 286 333 381 386 319 348
Cash & Equivalents		 48 56 69 87 106 93 133 137 151 41 54
Restricted Cash		 - - - - - - - - - 2.38 3.69
Accounts Receivable		 56 57 61 68 73 69 83 108 99 111 128
Inventories, net		 76 83 83 96 96 100 92 110 112 131 129
Prepaid Expenses		 12 10 15 12 9.75 16 17 12 12 16 16
Other Current Assets		 6.38 6.41 8.84 6.05 11 8.31 7.36 14 11 17 17
Plant, Property, & Equipment, net		 45 45 44 47 47 46 45 82 78 124 125
Total Noncurrent Assets		 145 143 140 283 279 284 279 332 328 437 444
Goodwill		 81 82 81 149 148 149 149 174 179 231 234
Intangible Assets		 49 47 44 115 112 111 106 126 118 173 174
Noncurrent Deferred & Refundable Income Taxes		 2.29 2.35 2.30 3.97 3.84 3.87 4.64 4.92 4.86 4.73 4.90
Other Noncurrent Operating Assets		 13 12 12 16 15 21 20 26 26 28 31
Total Liabilities & Shareholders' Equity		 389 400 421 599 621 617 656 794 792 880 917
Total Liabilities		 220 219 231 329 321 316 339 462 452 544 570
Total Current Liabilities		 75 78 90 96 93 95 94 106 106 141 162
Short-Term Debt		 11 10 13 15 13 13 11 16 16 16 20
Accounts Payable		 27 30 31 30 31 28 32 32 27 40 39
Accrued Expenses		 33 34 39 47 47 47 42 57 61 82 97
Current Deferred & Payable Income Tax Liabilities		 4.09 4.28 7.05 2.57 1.79 7.14 8.56 1.27 1.42 2.62 6.16
Total Noncurrent Liabilities		 144 141 141 233 228 221 245 356 346 402 408
Long-Term Debt		 135 133 130 201 198 195 209 299 295 350 354
Capital Lease Obligations		 4.20 3.21 3.60 5.82 6.06 12 11 16 16 15 17
Noncurrent Deferred & Payable Income Tax Liabilities		 3.61 3.76 5.05 22 19 8.78 18 30 24 30 29
Other Noncurrent Operating Liabilities		 1.20 1.31 1.84 5.21 5.06 5.49 6.85 11 11 7.82 7.99
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 169 181 190 271 299 300 318 332 340 336 347
Total Preferred & Common Equity		 169 181 190 271 299 300 318 332 340 336 347
Total Common Equity		 169 181 190 271 299 300 318 332 340 336 347
Common Stock		 206 208 211 282 303 305 308 310 313 306 309
Retained Earnings		 -39 -31 -23 -12 -3.45 -3.35 11 20 27 32 40
Accumulated Other Comprehensive Income / (Loss)		 1.72 2.75 2.14 0.99 0.23 -1.08 -1.54 2.54 0.57 -2.25 -2.19

Annual Metrics And Ratios for Cadre

This table displays calculated financial ratios and metrics derived from Cadre's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - 40,663,844.00
DEI Adjusted Shares Outstanding		 - - - - - 40,663,844.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - 1.09
Growth Metrics		 - - - - - -
Profitability Metrics		 - - - - - -
Net Operating Profit after Tax (NOPAT)		 69 34 10 41 44 48
Return On Investment Capital (ROIC_SIMPLE)		 - - 3.24% 12.12% 8.16% 7.45%
Earnings before Interest and Taxes (EBIT)		 52 51 16 57 62 75
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 69 68 36 74 83 96
Valuation Ratios		 - - - - - -
Leverage & Solvency		 - - - - - -
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 38 -50 64 -123 -13
Efficiency Ratios		 - - - - - -
Capital & Investment Metrics		 - - - - - -
Invested Capital		 219 215 275 253 421 436
Increase / (Decrease) in Invested Capital		 0.00 -4.18 61 -22 168 61
Book Value per Share		 $0.32 $2.58 $4.44 $5.25 $7.67 $7.82
Tangible Book Value per Share		 ($3.95) ($0.58) $0.90 $1.92 $1.37 $0.53
Total Capital		 222 248 321 340 545 640
Total Debt		 213 160 155 143 234 322
Total Long-Term Debt		 209 147 142 131 223 306
Net Debt		 210 126 109 56 109 197
Capital Expenditures (CapEx)		 -7.70 2.83 4.08 6.52 5.61 6.78
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 56 65 85 75 120 152
Debt-free Net Working Capital (DFNWC)		 58 99 130 163 245 278
Net Working Capital (NWC)		 55 85 118 151 233 261
Net Nonoperating Expense (NNE)		 30 21 4.56 2.62 8.36 3.56
Net Nonoperating Obligations (NNO)		 210 126 109 56 109 118
Total Depreciation and Amortization (D&A)		 17 17 21 16 21 21
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.44 $0.16 $1.03 $0.90 $1.08
Adjusted Weighted Average Basic Shares Outstanding		 0.00 28.60M 36.11M 37.53M 39.95M 40.87M
Adjusted Diluted Earnings per Share		 $0.00 $0.44 $0.16 $1.02 $0.90 $1.02
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 28.60M 36.12M 37.92M 40.33M 43.43M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 28.60M 37.33M 37.59M 40.61M 42.73M
Normalized Net Operating Profit after Tax (NOPAT)		 39 36 13 43 48 53
Debt Service Ratios		 - - - - - -
Payout Ratios		 - - - - - -

Quarterly Metrics And Ratios for Cadre

This table displays calculated financial ratios and metrics derived from Cadre's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 40,663,844.00 42,726,564.00 42,797,451.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 40,663,844.00 42,726,564.00 42,797,451.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.29 0.05 0.27
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.76% 23.37% 19.18% -12.55% 41.26% -5.62% 8.87% 42.47% - 19.46% 31.84%
EBITDA Growth		 -17.03% -3.23% 27.45% -38.89% 75.74% 24.68% 0.11% 90.64% - -18.57% 17.36%
EBIT Growth		 -8.20% -9.06% 20.84% -57.48% 88.43% 40.85% 6.03% 156.01% - -52.14% 5.45%
NOPAT Growth		 48.06% 18.04% 24.07% -67.03% 71.53% 6.58% -26.80% 246.32% - -47.43% 45.38%
Net Income Growth		 45.39% -1.06% 14.33% -66.93% 35.32% 33.49% -2.83% 199.34% - -78.64% -6.58%
EPS Growth		 19.05% -5.26% 6.90% -68.97% 28.00% 27.78% -3.23% 200.00% - -78.26% -13.33%
Operating Cash Flow Growth		 59.39% -83.20% -28.33% -128.98% -12.02% 713.80% -76.77% 531.07% - 29.50% 755.14%
Free Cash Flow Firm Growth		 159.71% -488.84% -1,254.30% -979.14% -567.78% 99.69% 17.09% 51.44% - -66,049.50% -33.81%
Invested Capital Growth		 -8.16% 49.24% 51.81% 59.63% 66.35% 2.55% 27.96% 20.91% - 61.99% 29.47%
Revenue Q/Q Growth		 -0.42% 10.66% 4.68% -24.18% 60.85% -26.07% 20.75% -0.79% - -7.05% 33.26%
EBITDA Q/Q Growth		 -18.86% -7.76% 69.74% -51.90% 133.34% -34.56% 36.29% -8.39% - -41.54% 96.43%
EBIT Q/Q Growth		 -19.50% -20.30% 86.21% -64.41% 256.78% -40.42% 40.16% -14.07% - -66.65% 208.83%
NOPAT Q/Q Growth		 -18.71% -4.80% 52.63% -72.08% 322.83% -40.85% 4.82% 32.09% - -61.53% 189.87%
Net Income Q/Q Growth		 -13.20% -27.79% 81.39% -70.92% 255.21% -28.77% 32.04% -10.40% - -83.18% 477.57%
EPS Q/Q Growth		 -13.79% -28.00% 72.22% -70.97% 255.56% -28.13% 30.43% -10.00% - -77.27% 420.00%
Operating Cash Flow Q/Q Growth		 49.79% -92.07% 421.43% -146.79% 554.76% -26.65% -85.12% 768.47% - 5.98% -1.73%
Free Cash Flow Firm Q/Q Growth		 82.19% -485.57% -1.28% -23.56% 3.06% 99.75% -27,277.67% 27.63% - -100.47% 44.62%
Invested Capital Q/Q Growth		 -5.59% 60.33% 1.38% 4.02% -1.61% -1.16% 26.50% -1.72% - 30.79% 1.11%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 39.94% 41.80% 40.64% 36.58% 43.86% 43.14% 40.89% 42.74% - 38.71% 42.07%
EBITDA Margin		 13.40% 11.17% 18.11% 11.49% 16.67% 14.75% 16.65% 15.37% - 10.06% 14.82%
Operating Margin		 10.18% 8.69% 13.83% 4.96% 16.71% 10.42% 9.35% 11.98% - 4.82% 10.84%
EBIT Margin		 10.61% 7.64% 13.59% 6.38% 14.15% 11.41% 13.24% 11.47% - 4.57% 10.59%
Profit (Net Income) Margin		 7.70% 5.03% 8.71% 3.34% 7.38% 7.11% 7.77% 7.02% - 1.27% 5.51%
Tax Burden Percent		 77.28% 77.86% 71.35% 73.25% 57.15% 73.35% 70.96% 73.71% - 69.76% 67.44%
Interest Burden Percent		 93.92% 84.46% 89.79% 71.48% 91.20% 84.97% 82.74% 83.06% - 39.86% 77.12%
Effective Tax Rate		 22.72% 22.14% 28.65% 26.75% 42.85% 26.65% 29.04% 26.29% - 30.24% 32.56%
Return on Invested Capital (ROIC)		 14.37% 10.17% 15.40% 5.39% 16.10% 10.42% 8.11% 11.58% - 3.93% 8.31%
ROIC Less NNEP Spread (ROIC-NNEP)		 14.13% 8.14% 13.74% 5.08% 11.46% 9.82% 9.28% 9.72% - 2.43% 6.89%
Return on Net Nonoperating Assets (RNNOA)		 6.42% 4.38% 5.78% 2.12% 3.71% 3.89% 4.48% 4.60% - 1.62% 5.35%
Return on Equity (ROE)		 20.79% 14.55% 21.17% 7.52% 19.81% 14.31% 12.59% 16.18% - 5.54% 13.66%
Cash Return on Invested Capital (CROIC)		 24.14% -26.93% -27.84% -35.20% -36.61% 8.54% -15.61% -8.04% - -39.42% -17.78%
Operating Return on Assets (OROA)		 12.44% 7.87% 14.17% 6.35% 14.82% 10.17% 10.71% 10.08% - 3.78% 8.48%
Return on Assets (ROA)		 9.03% 5.17% 9.08% 3.33% 7.73% 6.34% 6.29% 6.17% - 1.05% 4.41%
Return on Common Equity (ROCE)		 20.79% 14.55% 21.17% 7.52% 19.81% 14.31% 12.59% 16.18% - 5.54% 13.66%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 14.25% 13.41% 10.90% 0.00% 12.11% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 9.80 9.33 14 3.97 17 9.94 10 14 14 5.23 15
NOPAT Margin		 7.86% 6.77% 9.86% 3.63% 9.55% 7.64% 6.63% 8.83% - 3.36% 7.31%
Net Nonoperating Expense Percent (NNEP)		 0.25% 2.03% 1.65% 0.31% 4.64% 0.60% -1.18% 1.86% - 1.49% 1.42%
Return On Investment Capital (ROIC_SIMPLE)		 2.88% - - - 3.08% 1.81% 1.57% 2.06% 2.12% 0.73% 2.05%
Cost of Revenue to Revenue		 60.06% 58.20% 59.36% 63.43% 56.14% 56.86% 59.11% 57.26% - 61.29% 57.93%
SG&A Expenses to Revenue		 28.02% 29.54% 26.73% 31.06% 25.60% 32.09% 28.72% 29.27% - 31.42% 30.52%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Operating Expenses to Revenue		 29.76% 33.11% 26.82% 31.62% 27.15% 32.73% 31.55% 30.76% - 33.89% 31.22%
Earnings before Interest and Taxes (EBIT)		 13 11 20 6.98 25 15 21 18 21 7.10 22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 17 15 26 13 29 19 26 24 27 16 31
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.19 5.00 4.54 5.12 4.20 3.77 3.88 4.35 - 3.89 3.51
Price to Tangible Book Value (P/TBV)		 16.95 199.74 34.85 38.13 23.44 19.00 40.88 34.21 - 0.00 0.00
Price to Revenue (P/Rev)		 2.53 2.66 2.56 2.98 2.31 2.14 2.26 2.39 - 2.06 1.77
Price to Earnings (P/E)		 31.59 35.10 33.86 46.95 36.21 31.17 33.89 32.64 - 35.44 33.72
Dividend Yield		 0.99% 0.91% 1.00% 0.90% 1.09% 1.21% 1.15% 1.02% - 1.26% 1.37%
Earnings Yield		 3.17% 2.85% 2.95% 2.13% 2.76% 3.21% 2.95% 3.06% - 2.82% 2.97%
Enterprise Value to Invested Capital (EV/IC)		 5.05 3.67 3.58 3.89 3.37 3.12 2.82 3.21 - 2.44 2.28
Enterprise Value to Revenue (EV/Rev)		 2.65 2.93 2.77 3.22 2.50 2.32 2.59 2.68 - 2.59 2.26
Enterprise Value to EBITDA (EV/EBITDA)		 17.33 20.35 18.67 23.51 16.99 14.86 17.01 16.80 - 17.77 15.97
Enterprise Value to EBIT (EV/EBIT)		 22.22 26.39 24.60 33.05 22.85 19.54 21.99 21.14 - 24.51 22.73
Enterprise Value to NOPAT (EV/NOPAT)		 30.93 34.96 32.42 44.61 31.86 28.58 35.54 32.25 - 38.22 32.52
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.43 23.77 25.27 47.53 44.61 27.57 38.59 25.05 - 23.88 17.54
Enterprise Value to Free Cash Flow (EV/FCFF)		 20.03 0.00 0.00 0.00 0.00 37.01 0.00 0.00 - 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.73 0.82 0.73 0.73 0.75 0.73 1.00 0.96 - 1.13 1.13
Long-Term Debt to Equity		 0.66 0.76 0.68 0.69 0.71 0.69 0.95 0.91 - 1.08 1.07
Financial Leverage		 0.45 0.54 0.42 0.42 0.32 0.40 0.48 0.47 - 0.67 0.78
Leverage Ratio		 2.27 2.25 2.13 2.12 2.13 2.13 2.24 2.20 - 2.35 2.52
Compound Leverage Factor		 2.13 1.90 1.91 1.51 1.94 1.81 1.85 1.83 - 0.94 1.94
Debt to Total Capital		 42.09% 45.02% 42.07% 42.30% 42.89% 42.16% 49.87% 49.02% - 53.12% 53.03%
Short-Term Debt to Total Capital		 3.62% 3.09% 2.54% 2.52% 2.09% 2.07% 2.45% 2.44% - 2.27% 2.71%
Long-Term Debt to Total Capital		 38.47% 41.93% 39.53% 39.77% 40.80% 40.09% 47.42% 46.58% - 50.85% 50.32%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Common Equity to Total Capital		 57.91% 54.98% 57.93% 57.70% 57.11% 57.84% 50.13% 50.98% - 46.88% 46.97%
Debt to EBITDA		 1.95 3.03 2.76 3.11 2.80 2.65 3.79 3.32 - 4.12 4.04
Net Debt to EBITDA		 0.76 1.84 1.42 1.80 1.31 1.12 2.22 1.79 - 3.65 3.44
Long-Term Debt to EBITDA		 1.78 2.82 2.59 2.92 2.67 2.52 3.60 3.15 - 3.94 3.83
Debt to NOPAT		 3.47 5.21 4.79 5.90 5.26 5.10 7.92 6.37 - 8.86 8.22
Net Debt to NOPAT		 1.35 3.16 2.46 3.41 2.45 2.16 4.63 3.43 - 7.84 7.01
Long-Term Debt to NOPAT		 3.17 4.85 4.50 5.55 5.00 4.85 7.53 6.05 - 8.48 7.80
Altman Z-Score		 4.72 3.70 3.88 4.15 3.74 3.51 2.93 3.30 - 2.49 2.41
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.58 2.82 3.17 3.01 3.48 3.55 3.59 3.64 - 2.26 2.14
Quick Ratio		 1.53 1.62 1.92 1.71 2.32 2.31 2.32 2.36 - 1.08 1.12
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 32 -124 -126 -156 -151 -0.38 -104 -76 -47 -252 -140
Operating Cash Flow to CapEx		 1,087.53% 159.12% 564.77% -526.14% 1,815.54% 1,328.57% 181.74% 2,647.35% - 840.34% 640.92%
Free Cash Flow to Firm to Interest Expense		 40.13 -75.99 -62.91 -78.19 -68.88 -0.17 -29.10 0.00 - 0.00 0.00
Operating Cash Flow to Interest Expense		 33.52 1.31 5.56 -2.62 10.82 7.80 0.72 0.00 - 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 30.44 0.49 4.58 -3.12 10.23 7.21 0.32 0.00 - 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.17 1.03 1.04 1.00 1.05 0.89 0.81 0.88 - 0.83 0.80
Accounts Receivable Turnover		 7.85 8.22 8.18 7.90 7.47 7.41 6.33 7.33 - 6.55 5.80
Inventory Turnover		 3.73 3.45 3.50 3.41 4.09 3.50 3.26 3.35 - 3.34 3.34
Fixed Asset Turnover		 10.73 11.08 11.66 11.49 12.63 12.20 8.90 10.00 - 7.51 6.61
Accounts Payable Turnover		 10.88 10.31 10.22 10.64 11.51 10.51 10.55 13.01 - 10.33 11.26
Days Sales Outstanding (DSO)		 46.49 44.42 44.62 46.21 48.84 49.23 57.63 49.78 - 55.76 62.97
Days Inventory Outstanding (DIO)		 97.95 105.79 104.28 107.18 89.22 104.41 111.80 108.91 - 109.30 109.16
Days Payable Outstanding (DPO)		 33.56 35.40 35.73 34.31 31.72 34.74 34.59 28.06 - 35.34 32.42
Cash Conversion Cycle (CCC)		 110.88 114.81 113.18 119.08 106.34 118.90 134.84 130.63 - 129.72 139.71
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 253 405 411 427 421 416 526 517 436 673 681
Invested Capital Turnover		 1.83 1.50 1.56 1.49 1.69 1.36 1.22 1.31 - 1.17 1.14
Increase / (Decrease) in Invested Capital		 -22 134 140 160 168 10 115 89 61 258 155
Enterprise Value (EV)		 1,276 1,488 1,471 1,664 1,417 1,297 1,485 1,658 - 1,644 1,550
Market Capitalization		 1,221 1,354 1,359 1,537 1,308 1,199 1,291 1,481 - 1,306 1,216
Book Value per Share		 $5.25 $7.20 $7.37 $7.39 $7.67 $7.82 $8.18 $8.37 $7.82 $7.87 $8.10
Tangible Book Value per Share		 $1.92 $0.18 $0.96 $0.99 $1.37 $1.55 $0.78 $1.06 $0.53 ($1.60) ($1.43)
Total Capital		 340 492 517 520 545 549 663 668 640 717 738
Total Debt		 143 222 217 220 234 231 331 327 322 381 392
Total Long-Term Debt		 131 206 204 207 223 220 315 311 306 365 372
Net Debt		 56 135 112 127 109 98 193 176 197 337 334
Capital Expenditures (CapEx)		 2.48 1.34 1.97 0.99 1.31 1.31 1.42 0.85 3.20 2.68 3.45
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 75 102 109 111 120 117 154 146 152 150 148
Debt-free Net Working Capital (DFNWC)		 163 189 215 204 245 250 291 296 278 194 206
Net Working Capital (NWC)		 151 174 202 191 233 239 275 280 261 178 186
Net Nonoperating Expense (NNE)		 0.20 2.40 1.67 0.32 3.82 0.69 -1.79 2.82 1.84 3.25 3.74
Net Nonoperating Obligations (NNO)		 56 135 112 127 109 98 193 176 118 337 334
Total Depreciation and Amortization (D&A)		 3.47 4.86 6.51 5.59 4.42 4.36 5.36 6.09 5.44 8.53 8.77
Debt-free, Cash-free Net Working Capital to Revenue		 15.60% 20.04% 20.52% 21.50% 21.12% 20.86% 26.85% 23.51% - 23.63% 21.59%
Debt-free Net Working Capital to Revenue		 33.77% 37.16% 40.44% 39.52% 43.14% 44.70% 50.86% 47.88% - 30.50% 30.00%
Net Working Capital to Revenue		 31.22% 34.16% 37.97% 36.97% 41.13% 42.67% 48.02% 45.26% - 27.94% 27.08%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.26 $0.18 $0.31 $0.09 $0.32 $0.23 $0.30 $0.27 $0.28 $0.05 $0.27
Adjusted Weighted Average Basic Shares Outstanding		 37.53M 37.95M 40.61M 40.61M 39.95M 40.62M 40.66M 40.67M 40.87M 42.56M 42.81M
Adjusted Diluted Earnings per Share		 $0.25 $0.18 $0.31 $0.09 $0.32 $0.23 $0.30 $0.27 $0.22 $0.05 $0.26
Adjusted Weighted Average Diluted Shares Outstanding		 37.92M 38.55M 40.86M 40.95M 40.33M 40.98M 40.94M 40.98M 43.43M 43.36M 43.39M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.59M 40.61M 40.61M 40.61M 40.61M 40.66M 40.66M 40.66M 42.73M 42.80M 42.82M
Normalized Net Operating Profit after Tax (NOPAT)		 11 12 14 4.35 18 10 13 15 15 6.51 16
Normalized NOPAT Margin		 8.52% 8.51% 9.87% 3.98% 10.32% 8.03% 8.13% 9.88% - 4.19% 7.79%
Pre Tax Income Margin		 9.96% 6.45% 12.21% 4.56% 12.91% 9.69% 10.95% 9.52% - 1.82% 8.17%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 16.44 6.44 9.79 3.51 11.37 6.65 5.79 0.00 - 0.00 0.00
NOPAT to Interest Expense		 12.19 5.70 7.11 2.00 7.67 4.46 2.90 0.00 - 0.00 0.00
EBIT Less CapEx to Interest Expense		 13.36 5.62 8.81 3.01 10.77 6.06 5.40 0.00 - 0.00 0.00
NOPAT Less CapEx to Interest Expense		 9.10 4.88 6.12 1.50 7.07 3.87 2.51 0.00 - 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 31.07% 31.92% 32.02% 40.93% 38.60% 37.76% 38.92% 33.35% - 43.05% 45.17%
Augmented Payout Ratio		 31.07% 31.92% 32.02% 40.93% 38.60% 37.76% 38.92% 33.35% - 43.05% 45.17%

Financials Breakdown Chart

Key Financial Trends

Cadre Holdings (NYSE: CDRE) showed strong operating momentum in the second quarter of 2026, although higher financing costs and increased leverage remain important risks. Revenue rose to $207.1 million from $157.1 million in the restated second quarter of 2025, a 31.8% increase. Gross profit increased 35.6% to $87.1 million, while operating income nearly tripled from $7.5 million to $22.5 million.

Profitability improved at the operating level. Gross margin expanded to approximately 42.1% from 40.9%, and operating margin increased to 10.8% from 4.8%. However, net income declined to $11.4 million from $12.2 million because net other expense increased to $5.5 million, including $5.0 million of interest and investment expense. Diluted earnings per share fell to $0.26 from $0.30.

Cash generation was a major positive. Operating cash flow was $22.1 million in Q2 2026, compared with only $2.6 million in the restated year-ago quarter. This improvement followed a $14.7 million operating-capital outflow in Q2 2025 and suggests that working-capital management was substantially better in the latest quarter. Capital expenditures and acquisitions used $13.8 million during the quarter, leaving positive operating cash flow after these investments.

The balance sheet reflects Cadre’s acquisition-led expansion. Total assets increased to $917.3 million from $794.4 million a year earlier, while goodwill and intangible assets totaled $408.1 million, or roughly 44% of total assets. Cash and restricted cash totaled $58.2 million at June 30, 2026, down significantly from $137.5 million in cash alone at June 30, 2025, partly reflecting acquisition spending and debt repayment.

  • Revenue growth accelerated: Q2 2026 revenue increased 31.8% year over year, following revenue growth in each of the comparable quarters provided since 2023.
  • Operating margins improved: Gross margin rose to approximately 42.1%, and operating margin reached 10.8%, supported by operating income growth that substantially outpaced revenue growth.
  • Operating cash flow rebounded: Cash flow from operations reached $22.1 million in Q2 2026 versus $2.6 million in Q2 2025 and remained consistently positive in the other recent quarters.
  • Liquidity remains adequate: Current assets of $348.1 million exceeded current liabilities of $162.4 million, producing a current ratio of approximately 2.1.
  • Shareholder distributions increased: The quarterly dividend payment was approximately $4.3 million, while the reported dividend per share increased to $0.10 in Q1 2026 from $0.095 in the comparable 2025 quarters.
  • Acquisitions are driving expansion: Cadre spent $153.6 million on acquisitions in Q1 2026 and another $10.3 million in Q2. This spending helped expand the asset base and revenue opportunity, but investors will need to monitor whether acquired businesses deliver sufficient returns.
  • Working capital is mixed: Accounts receivable increased to $128.4 million, while inventory declined modestly to $129.1 million. The latest quarter’s positive working-capital contribution was encouraging, but receivables remain a significant use of capital.
  • Debt has increased: Short- and long-term debt totaled approximately $374.3 million at June 30, 2026, up from roughly $315.2 million a year earlier, excluding capital lease obligations.
  • Interest costs are weighing on earnings: Cash interest paid increased to $5.2 million in Q2 2026 from $4.7 million in Q2 2025, while reported interest and investment expense reached $5.0 million. This helped push net income and diluted EPS below year-ago levels despite much stronger operating performance.
  • Acquisition-related balance-sheet risk is material: Goodwill and intangible assets represented nearly half of total assets. Any impairment or underperformance from recent acquisitions could reduce equity and pressure future earnings.
09/24/26 09:10 PM ETAI Generated. May Contain Errors.

Cadre Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Cadre's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Cadre's net income appears to be on an upward trend, with a most recent value of $44.14 million in 2025, rising from $38.45 million in 2020. The previous period was $36.13 million in 2024. Find out what analysts predict for Cadre in the coming months.

Cadre's total operating income in 2025 was $67.35 million, based on the following breakdown:
  • Total Gross Profit: $259.63 million
  • Total Operating Expenses: $192.28 million

Over the last 5 years, Cadre's total revenue changed from $404.64 million in 2020 to $610.31 million in 2025, a change of 50.8%.

In the past 13 quarters, Cadre's cash and equivalents has ranged from $41.27 million in Q1 2026 to $150.88 million in Q3 2025, and is currently $53.98 million as of their latest financial filing in Q2 2026.

Cadre had total debt of $322.29 million at the end of 2025, a 37.8% increase from 2024, and a 51.4% increase since 2020.

Over the last 5 years, Cadre's book value per share changed from 0.32 in 2020 to 7.82 in 2025, a change of 2,327.1%.


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Financial statements for NYSE:CDRE last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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