CDRE Stock Analysis: Cadre Holdings | NYSE
Aerospace & Defense | NYSE, USA | Market Cap: 1.288m USD | 12M Return: -8.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 11.9M
EPS Trend: 42.8%
Qual. Beats: -2
Rev. Trend: 98.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 4.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Cadre Holdings, Inc. (NYSE: CDRE) is a Jacksonville, Florida-based manufacturer and distributor of personal protective and safety equipment serving both first responders and government agencies. Founded in 1964 and listed on the NYSE since its 2021 IPO, the company operates through two segments-Product and Distribution-offering body armor, bomb suits, survival suits, duty gear, communications equipment, forensic products, and crowd-control tools under brands such as Safariland and Protech Tactical, alongside third-party items including uniforms, optics, boots, firearms, and ammunition. Cadre also designs and services specialized vessels, precision components, and remote handling systems for the nuclear, defense, and oil and gas industries.
Its customers span U.S. state and local law enforcement, fire and rescue, EOD technicians, EMTs, and federal agencies including the Departments of State, Defense, Interior, Justice, Homeland Security, and Energy, as well as various foreign governments. Products reach end users through a direct sales force, distribution partners, online stores, and third-party resellers. As a small-cap Industrials company focused on mission-critical safety equipment, Cadre is positioned within the niche of protective gear suppliers that depend heavily on government procurement contracts and multi-year defense and homeland security budget cycles.
- Federal law enforcement body armor demand drives Product segment growth
- Distribution segment margins pressure overall profitability as mix shifts
- Defense and nuclear equipment orders expand from DoD and DOE contracts
| Net Income: 36.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 0.58 > 1.0 |
| NWC/Revenue: 27.94% < 20% (prev 42.67%; Δ -14.73% < -1%) |
| CFO/TA 0.08 > 3% & CFO 68.8m > Net Income 36.9m |
| Net Debt (370.8m) to EBITDA (87.0m): 4.26 < 3 |
| Current Ratio: 2.26 > 1.5 & < 3 |
| Outstanding Shares: last quarter (43.4m) vs 12m ago 5.81% < -2% |
| Gross Margin: 40.16% > 18% (prev 41.26%; Δ -1.10% > 0.5%) |
| Asset Turnover: 82.76% > 50% (prev 85.30%; Δ -2.54% > 0%) |
| Interest Coverage Ratio: 4.85 > 6 (EBIT TTM 66.2m / Interest Expense TTM 13.6m) |
| A: 0.20 (Total Current Assets 318.8m - Total Current Liabilities 141.2m) / Total Assets 879.7m |
| B: 0.04 (Retained Earnings 32.5m / Total Assets 879.7m) |
| C: 0.09 (EBIT TTM 66.2m / Avg Total Assets 768.0m) |
| D: 0.62 (Book Value of Equity 336.1m / Total Liabilities 543.6m) |
| Altman-Z'' = 2.67 = A |
| DSRI: 1.18 (Receivables 111.3m/82.9m, Revenue 635.6m/559.8m) |
| GMI: 1.03 (GM 41.26% / 40.16%) |
| AQI: 1.17 (AQ_t 0.47 / AQ_t-1 0.40) |
| SGI: 1.14 (Revenue 635.6m / 559.8m) |
| TATA: -0.04 (NI 36.9m - CFO 68.8m) / TA 879.7m) |
| Beneish M = -2.65 (Cap -4..+1) = A |
As of July 10, 2026, the stock is trading at USD 29.56 with a total of 303,118 shares traded. Over the past week, the price has changed by +3.32%, over one month by -2.09%, over three months by -11.20% and over the past year by -8.18%.
Current recommended Stop Loss: 27.90 (which is 5.6% or 1.2 ATR below the current price).
Cadre Holdings has received a consensus analysts rating of 4.43. Therefore, it is recommended to buy CDRE.
- StrongBuy: 4
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 46.8 | 58.3% |
P/E Trailing = 35.8155
P/E Forward = 21.978
P/S = 2.0256
P/B = 3.7486
Revenue TTM = 635.6m USD
EBIT TTM = 66.2m USD
EBITDA TTM = 87.0m USD
Long Term Debt = 349.6m USD (from longTermDebt, last quarter)
Short Term Debt = 24.4m USD (from shortTermDebt, last quarter)
Debt = 412.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 23.1m
Net Debt = 370.8m USD (calculated: Debt 412.1m - CCE 41.3m)
Enterprise Value = 1.66b USD (1.29b + Debt 412.1m - CCE 41.3m)
Interest Coverage Ratio = 4.85 (Ebit TTM 66.2m / Interest Expense TTM 13.6m)
EV/FCF = 27.36x (Enterprise Value 1.66b / FCF TTM 60.6m)
FCF Yield = 3.65% (FCF TTM 60.6m / Enterprise Value 1.66b)
FCF Margin = 9.54% (FCF TTM 60.6m / Revenue TTM 635.6m)
Net Margin = 5.80% (Net Income TTM 36.9m / Revenue TTM 635.6m)
Gross Margin = 40.16% ((Revenue TTM 635.6m - Cost of Revenue TTM 380.4m) / Revenue TTM)
Gross Margin QoQ = 37.73% (prev 40.85%)
Tobins Q-Ratio = 1.89 (Enterprise Value 1.66b / Total Assets 879.7m)
Interest Expense / Debt = 3.31% (Interest Expense 13.6m / Debt 412.1m)
Taxrate = 29.84% (15.7m / 52.5m)
NOPAT = 46.4m (EBIT 66.2m * (1 - 29.84%))
Current Ratio = 2.26 (Total Current Assets 318.8m / Total Current Liabilities 141.2m)
Debt / Equity = 1.23 (Debt 412.1m / totalStockholderEquity, last quarter 336.1m)
Debt / EBITDA = 4.26 (Net Debt 370.8m / EBITDA 87.0m)
Debt / FCF = 6.12 (Net Debt 370.8m / FCF TTM 60.6m)
Total Stockholder Equity = 331.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.80% (Net Income 36.9m / Total Assets 879.7m)
RoE = 11.11% (Net Income TTM 36.9m / Total Stockholder Equity 331.7m)
RoCE = 9.71% (EBIT 66.2m / Capital Employed (Equity 331.7m + L.T.Debt 349.6m))
RoIC = 6.35% (NOPAT 46.4m / Invested Capital 731.2m)
WACC = 7.05% (E(1.29b)/V(1.70b) * Re(8.56%) + D(412.1m)/V(1.70b) * Rd(3.31%) * (1-Tc(0.30)))
Discount Rate = 8.56% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.22 | Cagr: 5.89%
[DCF] Terminal Value 77.97% ; FCFF base≈52.9m ; Y1≈60.7m ; Y5≈89.3m
[DCF] Fair Price = 22.73 (EV 1.34b - Net Debt 370.8m = Equity 972.9m / Shares 42.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 42.84 | EPS CAGR: 5.50% | SUE: -2.41 | # QB: -2
Revenue Correlation: 97.96 | Revenue CAGR: 11.97% | SUE: 0.01 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.30 | Chg30d=-18.92% | Revisions=-25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.43 | Chg30d=+10.26% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=1.30 | Chg30d=-15.03% | Revisions=+25% | GrowthEPS=+19.4% | GrowthRev=+20.8%
EPS next Year (2027-12-31): EPS=1.43 | Chg30d=-12.80% | Revisions=-25% | GrowthEPS=+10.0% | GrowthRev=+6.8%