CDRE Stock Analysis: Cadre Holdings | NYSE
Aerospace & Defense | NYSE, USA | Market Cap: 1.312m USD | 12M Return: -27.8% | US12763L1052 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 14.2M
EPS Trend: 41.0%
Qual. Beats: 0
Rev. Trend: 97.7%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 4.9 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 U.S.-based manufacturer and distributor of safety and protective equipment, operating through two segments: Product and Distribution. The company produces body armor under the Safariland and Protech Tactical brands, along with bomb suits, duty gear, communications equipment, forensic products, and crowd control products. It also offers third-party items such as uniforms, optics, boots, firearms, and ammunition, and designs specialized equipment, vessels, precision components, and remote handling systems for the nuclear, defense, and oil and gas industries.
The companys customer base is heavily weighted toward public sector and government clients, including state and local law enforcement, fire and rescue, explosive ordnance disposal technicians, and multiple U.S. federal departments such as Defense, State, Justice, Homeland Security, Interior, and Energy, as well as foreign government agencies. Products are sold through direct sales, distribution channels, online stores, and third-party resellers. Cadre was founded in 1964, is headquartered in Jacksonville, Florida, and went public on the NYSE in November 2021.
Operating within the Industrials sector, Cadre benefits from high regulatory and certification barriers to entry in the safety equipment market, which favor established incumbents. Its diversified exposure across law enforcement, military, and industrial end-markets provides multiple revenue streams, though government contract dependency can introduce budget-cycle volatility.
- Federal defense budget growth drives body armor demand
- Acquisitions expand product portfolio across safety and defense markets
- International government contracts lift nuclear and defense component revenue
| Net Income: 36.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA 4.31 > 1.0 |
| NWC/Revenue: 27.08% < 20% (prev 48.02%; Δ -20.93% < -1%) |
| CFO/TA 0.10 > 3% & CFO 88.4m > Net Income 36.1m |
| Net Debt (371.3m) to EBITDA (89.9m): 4.13 < 3 |
| Current Ratio: 2.14 > 1.5 & < 3 |
| Outstanding Shares: last quarter (43.4m) vs 12m ago 5.98% < -2% |
| Gross Margin: 40.75% > 18% (prev 41.10%; Δ -0.35% > 0.5%) |
| Asset Turnover: 80.11% > 50% (prev 72.08%; Δ 8.03% > 0%) |
| Interest Coverage Ratio: 4.34 > 6 (EBIT TTM 67.9m / Interest Expense TTM 15.7m) |
| A: 0.20 (Total Current Assets 348.1m - Total Current Liabilities 162.4m) / Total Assets 917.3m |
| B: 0.04 (Retained Earnings 39.6m / Total Assets 917.3m) |
| C: 0.08 (EBIT TTM 67.9m / Avg Total Assets 855.9m) |
| D: 0.61 (Book Value of Equity 346.8m / Total Liabilities 570.5m) |
| Altman-Z'' = 2.64 = A |
| DSRI: 0.99 (Receivables 128.4m/108.1m, Revenue 685.6m/572.6m) |
| GMI: 1.01 (GM 41.10% / 40.75%) |
| AQI: 1.17 (AQ_t 0.46 / AQ_t-1 0.39) |
| SGI: 1.20 (Revenue 685.6m / 572.6m) |
| TATA: -0.06 (NI 36.1m - CFO 88.4m) / TA 917.3m) |
| Beneish M = -2.79 (Cap -4..+1) = A |
As of November 02, 2026, the stock is trading at USD 30.36 with a total of 320,476 shares traded. Over the past week, the price has changed by +1.56%, over one month by +19.30%, over three months by -0.14% and over the past year by -27.80%.
Current recommended Stop Loss: 28.90 (which is 4.8% or 1.3 ATR below the current price).
Cadre Holdings has received a consensus analysts rating of 4.67. Therefore, it is recommended to buy CDRE.
- StrongBuy: 4
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 45.8 | 51% |
P/E Trailing = 37.8148
P/E Forward = 20.4082
P/S = 1.9129
P/B = 3.703
Revenue TTM = 685.6m USD
EBIT TTM = 67.9m USD
EBITDA TTM = 89.9m USD
Long Term Debt = 354.3m USD (from longTermDebt, last quarter)
Short Term Debt = 28.3m USD (from shortTermDebt, last quarter)
Debt = 425.3m USD (from shortLongTermDebtTotal, last quarter) + Leases 25.5m
Net Debt = 371.3m USD (calculated: Debt 425.3m - CCE 54.0m)
Enterprise Value = 1.68b USD (1.31b + Debt 425.3m - CCE 54.0m)
Interest Coverage Ratio = 4.34 (Ebit TTM 67.9m / Interest Expense TTM 15.7m)
EV/FCF = 21.54x (Enterprise Value 1.68b / FCF TTM 78.1m)
FCF Yield = 4.64% (FCF TTM 78.1m / Enterprise Value 1.68b)
FCF Margin = 11.39% (FCF TTM 78.1m / Revenue TTM 685.6m)
Net Margin = 5.26% (Net Income TTM 36.1m / Revenue TTM 685.6m)
Gross Margin = 40.75% ((Revenue TTM 685.6m - Cost of Revenue TTM 406.3m) / Revenue TTM)
Gross Margin QoQ = 42.07% (prev 37.73%)
Tobins Q-Ratio = 1.83 (Enterprise Value 1.68b / Total Assets 917.3m)
Interest Expense / Debt = 3.68% (Interest Expense 15.7m / Debt 425.3m)
Taxrate = 30.99% (16.2m / 52.3m)
NOPAT = 46.9m (EBIT 67.9m * (1 - 30.99%))
Current Ratio = 2.14 (Total Current Assets 348.1m / Total Current Liabilities 162.4m)
Debt / Equity = 1.23 (Debt 425.3m / totalStockholderEquity, last quarter 346.8m)
Debt / EBITDA = 4.13 (Net Debt 371.3m / EBITDA 89.9m)
Debt / FCF = 4.75 (Net Debt 371.3m / FCF TTM 78.1m)
Total Stockholder Equity = 335.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.21% (Net Income 36.1m / Total Assets 917.3m)
RoE = 10.76% (Net Income TTM 36.1m / Total Stockholder Equity 335.3m)
RoCE = 9.85% (EBIT 67.9m / Capital Employed (Equity 335.3m + L.T.Debt 354.3m))
RoIC = 6.26% (NOPAT 46.9m / Invested Capital 748.9m)
WACC = 6.20% (E(1.31b)/V(1.74b) * Re(7.39%) + D(425.3m)/V(1.74b) * Rd(3.68%) * (1-Tc(0.31)))
Discount Rate = 7.39% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 87.96 | Cagr: 5.39%
[DCF] Terminal Value 77.97% ; FCFF base≈60.2m ; Y1≈69.1m ; Y5≈101.6m
[DCF] Fair Price = 27.05 (EV 1.53b - Net Debt 371.3m = Equity 1.16b / Shares 42.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 41.03 | EPS CAGR: 4.54% | SUE: -0.29 | # QB: 0
Revenue Correlation: 97.69 | Revenue CAGR: 12.94% | SUE: 3.97 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.34 | Chg30d=+0.00% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=1.42 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+30.6% | GrowthRev=+24.4%
EPS next Year (2027-12-31): EPS=1.64 | Chg30d=+0.00% | Revisions=+25% | GrowthEPS=+15.4% | GrowthRev=+6.5%
[Analyst] Revisions Ratio: +25% (up=1, down=0)