(CDRE) Cadre Holdings - Overview
Stock: Body Armor, Bomb Suits, Duty Gear, Survival Suits, Remote
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.08% |
| Yield on Cost 5y | 2.66% |
| Yield CAGR 5y | 47.63% |
| Payout Consistency | 99.2% |
| Payout Ratio | 46.5% |
| Risk 5d forecast | |
|---|---|
| Volatility | 39.1% |
| Relative Tail Risk | -14.0% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.57 |
| Alpha | 5.45 |
| Character TTM | |
|---|---|
| Beta | 0.839 |
| Beta Downside | 0.680 |
| Drawdowns 3y | |
|---|---|
| Max DD | 29.61% |
| CAGR/Max DD | 0.80 |
Description: CDRE Cadre Holdings January 18, 2026
Cadre Holdings, Inc. (NYSE: CDRE) designs, manufactures, and distributes a broad portfolio of safety and protective equipment-including body armor, bomb suits, blast-attenuation seats, and remote-handling systems-for U.S. and international customers in law-enforcement, defense, fire-rescue, and related public-safety sectors.
The business is organized into two reporting segments. The **Products** segment produces proprietary gear under the Safariland and Protech Tactical brands, while the **Distribution** segment sells third-party items such as uniforms, optics, boots, firearms, and ammunition to the same end-users.
Its customer base spans state and local agencies, federal departments (DoD, DHS, DOJ, DOE, State, Interior, Corrections), and foreign government entities, providing a diversified revenue stream that is less exposed to any single contract.
Key recent metrics (FY 2023): revenue ≈ $1.1 billion, gross margin ~ 38 %, and a cash-conversion cycle of roughly 45 days. The company’s growth outlook is tied to two macro drivers: (1) U.S. federal defense and homeland-security spending, which has risen ~ 5 % YoY and is projected to stay above inflation through 2028; and (2) heightened demand for domestic law-enforcement protective gear driven by increased public-safety funding in several states despite overall municipal budget constraints.
For a deeper, data-driven assessment of Cadre’s valuation relative to peers, you may find the analytics on ValueRay worth a quick look.
Piotroski VR‑10 (Strict, 0-10) 7.5
| Net Income: 45.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 3.17 > 1.0 |
| NWC/Revenue: 45.26% < 20% (prev 36.97%; Δ 8.29% < -1%) |
| CFO/TA 0.08 > 3% & CFO 66.2m > Net Income 45.4m |
| Net Debt (182.3m) to EBITDA (95.4m): 1.91 < 3 |
| Current Ratio: 3.64 > 1.5 & < 3 |
| Outstanding Shares: last quarter (41.0m) vs 12m ago 0.07% < -2% |
| Gross Margin: 42.46% > 18% (prev 0.40%; Δ 4206 % > 0.5%) |
| Asset Turnover: 87.89% > 50% (prev 83.71%; Δ 4.19% > 0%) |
| Interest Coverage Ratio: 7.72 > 6 (EBITDA TTM 95.4m / Interest Expense TTM 10.0m) |
Altman Z'' 3.23
| A: 0.35 (Total Current Assets 386.2m - Total Current Liabilities 106.0m) / Total Assets 792.1m |
| B: 0.03 (Retained Earnings 26.9m / Total Assets 792.1m) |
| C: 0.11 (EBIT TTM 77.4m / Avg Total Assets 704.3m) |
| D: 0.06 (Book Value of Equity 27.5m / Total Liabilities 451.7m) |
| Altman-Z'' Score: 3.23 = A |
Beneish M -2.87
| DSRI: 1.19 (Receivables 99.4m/69.4m, Revenue 619.1m/516.2m) |
| GMI: 0.94 (GM 42.46% / 39.92%) |
| AQI: 0.89 (AQ_t 0.39 / AQ_t-1 0.43) |
| SGI: 1.20 (Revenue 619.1m / 516.2m) |
| TATA: -0.03 (NI 45.4m - CFO 66.2m) / TA 792.1m) |
| Beneish M-Score: -2.87 (Cap -4..+1) = A |
What is the price of CDRE shares?
Over the past week, the price has changed by +4.25%, over one month by +0.61%, over three months by -1.76% and over the past year by +18.25%.
Is CDRE a buy, sell or hold?
- StrongBuy: 4
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CDRE price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 48.5 | 14.3% |
| Analysts Target Price | 48.5 | 14.3% |
| ValueRay Target Price | 49.7 | 17.2% |
CDRE Fundamental Data Overview February 03, 2026
P/E Forward = 27.4725
P/S = 2.6292
P/B = 4.7976
Revenue TTM = 619.1m USD
EBIT TTM = 77.4m USD
EBITDA TTM = 95.4m USD
Long Term Debt = 295.0m USD (from longTermDebt, last quarter)
Short Term Debt = 22.1m USD (from shortTermDebt, last quarter)
Debt = 333.1m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 182.3m USD (from netDebt column, last quarter)
Enterprise Value = 1.81b USD (1.63b + Debt 333.1m - CCE 150.9m)
Interest Coverage Ratio = 7.72 (Ebit TTM 77.4m / Interest Expense TTM 10.0m)
EV/FCF = 29.53x (Enterprise Value 1.81b / FCF TTM 61.3m)
FCF Yield = 3.39% (FCF TTM 61.3m / Enterprise Value 1.81b)
FCF Margin = 9.90% (FCF TTM 61.3m / Revenue TTM 619.1m)
Net Margin = 7.33% (Net Income TTM 45.4m / Revenue TTM 619.1m)
Gross Margin = 42.46% ((Revenue TTM 619.1m - Cost of Revenue TTM 356.2m) / Revenue TTM)
Gross Margin QoQ = 41.88% (prev 40.89%)
Tobins Q-Ratio = 2.29 (Enterprise Value 1.81b / Total Assets 792.1m)
Interest Expense / Debt = 0.61% (Interest Expense 2.02m / Debt 333.1m)
Taxrate = 26.29% (3.90m / 14.8m)
NOPAT = 57.1m (EBIT 77.4m * (1 - 26.29%))
Current Ratio = 3.64 (Total Current Assets 386.2m / Total Current Liabilities 106.0m)
Debt / Equity = 0.98 (Debt 333.1m / totalStockholderEquity, last quarter 340.4m)
Debt / EBITDA = 1.91 (Net Debt 182.3m / EBITDA 95.4m)
Debt / FCF = 2.97 (Net Debt 182.3m / FCF TTM 61.3m)
Total Stockholder Equity = 325.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.44% (Net Income 45.4m / Total Assets 792.1m)
RoE = 13.94% (Net Income TTM 45.4m / Total Stockholder Equity 325.5m)
RoCE = 12.48% (EBIT 77.4m / Capital Employed (Equity 325.5m + L.T.Debt 295.0m))
RoIC = 9.62% (NOPAT 57.1m / Invested Capital 593.0m)
WACC = 7.55% (E(1.63b)/V(1.96b) * Re(9.01%) + D(333.1m)/V(1.96b) * Rd(0.61%) * (1-Tc(0.26)))
Discount Rate = 9.01% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 3.67%
[DCF Debug] Terminal Value 81.47% ; FCFF base≈48.0m ; Y1≈54.8m ; Y5≈75.6m
Fair Price DCF = 30.57 (EV 1.43b - Net Debt 182.3m = Equity 1.24b / Shares 40.7m; r=7.55% [WACC]; 5y FCF grow 16.53% → 2.90% )
EPS Correlation: -9.18 | EPS CAGR: -52.54% | SUE: -4.0 | # QB: 0
Revenue Correlation: 78.75 | Revenue CAGR: 11.53% | SUE: -0.99 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.24 | Chg30d=-0.055 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.46 | Chg30d=-0.025 | Revisions Net=+1 | Growth EPS=+11.5% | Growth Revenue=+7.8%