(CDRE) Cadre Holdings - Overview
Sector: Industrials | Industry: Aerospace & Defense | Exchange: NYSE (USA) | Market Cap: 1.297m USD | Total Return: -8.2% in 12m
Avg Turnover: 10.7M
EPS Trend: 42.8%
Qual. Beats: -2
Rev. Trend: 98.0%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Cadre Holdings, Inc. (CDRE) is a global manufacturer and distributor of safety and survivability equipment for first responders, federal agencies, and industrial sectors. Operating through Product and Distribution segments, the company provides body armor, explosive ordnance disposal equipment, and duty gear under established brands such as Safariland and Protech Tactical. The business model relies on a mix of direct sales and a multi-channel distribution network to reach law enforcement, military, and energy sector clients.
The company operates within the mission-critical safety equipment sector, which is characterized by high barriers to entry due to stringent technical certifications and long-term government procurement cycles. Beyond personal protection, Cadre maintains a specialized niche in the nuclear and defense industries by engineering remote handling systems and precision components for hazardous environments. Investors looking for deeper fundamental insights may find ValueRay a useful resource for further analysis.
- Global law enforcement budget growth drives demand for core body armor products
- Strategic acquisitions in specialized safety equipment expand high-margin revenue streams
- Geopolitical instability increases federal and international orders for tactical defense gear
- Supply chain stability and raw material costs impact manufacturing segment profitability
- Expansion into nuclear and energy sectors diversifies revenue beyond traditional first responders
| 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 (362.6m) to EBITDA (91.0m): 3.99 < 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 0.41%; Δ 3.97k% > 0.5%) |
| Asset Turnover: 82.76% > 50% (prev 85.30%; Δ -2.54% > 0%) |
| Interest Coverage Ratio: 5.14 > 6 (EBITDA TTM 91.0m / 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 70.1m / Avg Total Assets 768.0m) |
| D: 0.06 (Book Value of Equity 30.2m / Total Liabilities 543.6m) |
| Altman-Z'' = 2.12 = BBB |
| DSRI: 1.18 (Receivables 111.3m/82.9m, Revenue 635.6m/559.8m) |
| GMI: 1.03 (GM 40.16% / 41.26%) |
| 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 = -2.69 (Cap -4..+1) = A |
As of May 26, 2026, the stock is trading at USD 30.31 with a total of 190,027 shares traded.
Over the past week, the price has changed by +1.78%,
over one month by +3.41%,
over three months by -28.46% and
over the past year by -8.17%.
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 | 54.4% |
P/E Trailing = 36.0833
P/E Forward = 22.6244
P/S = 2.0408
P/B = 3.8594
Revenue TTM = 635.6m USD
EBIT TTM = 70.1m USD
EBITDA TTM = 91.0m USD
Long Term Debt = 349.6m USD (from longTermDebt, last quarter)
Short Term Debt = 16.3m USD (from shortTermDebt, last quarter)
Debt = 403.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 23.1m
Net Debt = 362.6m USD (calculated: Debt 403.9m - CCE 41.3m)
Enterprise Value = 1.66b USD (1.30b + Debt 403.9m - CCE 41.3m)
Interest Coverage Ratio = 5.14 (Ebit TTM 70.1m / Interest Expense TTM 13.6m)
EV/FCF = 27.39x (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 = 3.38% (Interest Expense 13.6m / Debt 403.9m)
Taxrate = 30.24% (856k / 2.83m)
NOPAT = 48.9m (EBIT 70.1m * (1 - 30.24%))
Current Ratio = 2.26 (Total Current Assets 318.8m / Total Current Liabilities 141.2m)
Debt / Equity = 1.20 (Debt 403.9m / totalStockholderEquity, last quarter 336.1m)
Debt / EBITDA = 3.99 (Net Debt 362.6m / EBITDA 91.0m)
Debt / FCF = 5.98 (Net Debt 362.6m / 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 = 10.29% (EBIT 70.1m / Capital Employed (Equity 331.7m + L.T.Debt 349.6m))
RoIC = 6.83% (NOPAT 48.9m / Invested Capital 716.0m)
WACC = 7.25% (E(1.30b)/V(1.70b) * Re(8.78%) + D(403.9m)/V(1.70b) * Rd(3.38%) * (1-Tc(0.30)))
Discount Rate = 8.78% (= 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 = 22.92 (EV 1.34b - Net Debt 362.6m = Equity 981.0m / 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=-20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.43 | Chg30d=+10.26% | Revisions=-20% | Analysts=1
EPS current Year (2026-12-31): EPS=1.30 | Chg30d=-15.03% | Revisions=+20% | GrowthEPS=+19.4% | GrowthRev=+20.8%
EPS next Year (2027-12-31): EPS=1.43 | Chg30d=-12.80% | Revisions=-20% | GrowthEPS=+10.0% | GrowthRev=+6.8%