NYSE : CDRE
Cadre Holdings, Inc. — Financial statements
Industrials · Aerospace & Defense · United States
Last price 31.1 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.33B
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Financial statements
Cadre Holdings, Inc. (CDRE) reported revenue of 685.65M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 685.65M | 610.31M | 567.56M | 482.53M | 457.84M | 427.29M |
| Cost of Revenue | 393.24M | 349.38M | 330.22M | 281.81M | 277.90M | 256.60M |
| Gross Profit | 292.41M | 260.92M | 237.34M | 200.73M | 179.93M | 170.69M |
| Selling, General & Admin | 208.51M | 183.58M | 158.96M | 141.01M | 153.61M | 115.54M |
| Operating Expenses | 208.51M | 183.58M | 158.96M | 141.01M | 153.61M | 115.54M |
| Operating Income | 83.89M | 77.34M | 78.38M | 59.71M | 26.33M | 55.15M |
| Interest Expense | -15.95M | -12.48M | -7.82M | -4.53M | -6.21M | -16.43M |
| Currency Exchange Gain (Loss) | -864.00K | 7.46M | -4.72M | -947.00K | ||
| Other Non Operating Income (Expenses) | 936.00K | -1.14M | ||||
| EBT Excluding Unusual Items | 67.08M | 72.32M | 65.83M | 56.12M | 18.98M | 37.78M |
| Merger & Restructuring Charges | -14.83M | -9.99M | -11.62M | -3.19M | -9.61M | -3.43M |
| Other Unusual Items | -15.15M | |||||
| Pretax Income | 52.25M | 62.33M | 54.22M | 52.92M | 9.37M | 19.19M |
| Income Tax Expense | 16.19M | 18.19M | 18.09M | 14.28M | 3.55M | 6.53M |
| Net Income | 36.06M | 44.14M | 36.13M | 38.64M | 5.82M | 12.66M |
| Net Income to Common | 36.06M | 44.14M | 36.13M | 38.64M | 5.82M | 12.66M |
| Shares Outstanding (Basic) | 41.89M | 40.87M | 39.95M | 37.53M | 36.11M | 28.60M |
| Shares Outstanding (Diluted) | 44.64M | 43.43M | 40.33M | 37.92M | 36.12M | 28.60M |
| EPS (Basic) | 0.86 | 1.08 | 0.90 | 1.03 | 0.16 | 0.44 |
| EPS (Diluted) | 0.82 | 1.02 | 0.90 | 1.02 | 0.16 | 0.44 |
| Free Cash Flow | 78.12M | 56.85M | 26.11M | 66.48M | 41.91M | 37.26M |
| Free Cash Flow Per Share | 1.75 | 1.31 | 0.65 | 1.75 | 1.16 | 1.30 |
| Dividend Per Share | 0.39 | 0.38 | 0.35 | 0.32 | 0.32 | 0.08 |
| Gross Margin | 42.65% | 42.75% | 41.82% | 41.60% | 39.30% | 39.95% |
| Operating Margin | 12.24% | 12.67% | 13.81% | 12.38% | 5.75% | 12.91% |
| Profit Margin | 5.26% | 7.23% | 6.37% | 8.01% | 1.27% | 2.96% |
| Free Cash Flow Margin | 11.39% | 9.31% | 4.60% | 13.78% | 9.16% | 8.72% |
| EBITDA | 105.89M | 95.98M | 94.80M | 75.45M | 41.98M | 68.87M |
| EBITDA Margin | 15.45% | 15.73% | 16.70% | 15.64% | 9.17% | 16.12% |
| D&A For EBITDA | 22.00M | 18.63M | 16.42M | 15.74M | 15.65M | 13.72M |
| EBIT | 83.89M | 77.34M | 78.38M | 59.71M | 26.33M | 55.15M |
| EBIT Margin | 12.24% | 12.67% | 13.81% | 12.38% | 5.75% | 12.91% |
| Effective Tax Rate | 30.99% | 29.18% | 33.36% | 26.99% | 37.91% | 34.03% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 53.98M | 122.90M | 124.93M | 87.69M | 45.29M | 33.86M |
| Trading Asset Securities | 784.00K | 1.18M | 2.75M | 3.65M | 3.62M | |
| Cash & Short-Term Investments | 54.77M | 124.08M | 127.68M | 91.35M | 48.91M | 33.86M |
| Receivables | 128.44M | 110.61M | 93.52M | 58.36M | 64.56M | 48.34M |
| Inventory | 129.12M | 100.26M | 82.35M | 80.98M | 70.27M | 63.98M |
| Prepaid Expenses | 15.75M | 14.57M | 19.03M | 11.93M | 10.09M | 10.35M |
| Restricted Cash | 3.69M | 2.43M | ||||
| Other Current Assets | 16.34M | 13.91M | 4.99M | 3.23M | 3.19M | 3.45M |
| Total Current Assets | 348.12M | 365.87M | 327.57M | 245.84M | 197.02M | 159.98M |
| Property, Plant & Equipment | 150.63M | 98.60M | 60.70M | 51.20M | 53.77M | 33.05M |
| Long-Term Investments | 1.06M | 1.30M | 2.85M | 5.37M | 1.61M | |
| Goodwill | 233.91M | 181.41M | 148.16M | 81.67M | 81.58M | 66.26M |
| Other Intangible Assets | 174.15M | 114.98M | 107.54M | 43.47M | 50.70M | 42.41M |
| Long-Term Deferred Tax Assets | 4.90M | 4.82M | 4.55M | 4.00M | 2.25M | 7.06M |
| Other Long-Term Assets | 4.53M | 4.36M | 2.89M | 2.14M | 1.27M | 1.42M |
| Total Assets | 917.30M | 770.03M | 652.71M | 431.18M | 391.95M | 311.80M |
| Accounts Payable | 38.90M | 22.32M | 29.64M | 28.42M | 23.41M | 19.33M |
| Accrued Expenses | 61.48M | 39.97M | 34.91M | 34.28M | 27.78M | 26.49M |
| Current Portion of Long-Term Debt | 20.07M | 16.74M | 11.38M | 12.32M | 12.21M | 13.56M |
| Current Portion of Leases | 8.24M | 5.82M | 4.82M | 3.51M | 3.77M | |
| Current Income Taxes Payable | 6.16M | 4.84M | 6.69M | 9.94M | 4.58M | 1.25M |
| Current Unearned Revenue | 25.32M | 12.74M | 4.92M | 5.12M | 5.94M | 12.61M |
| Other Current Liabilities | 2.25M | 2.07M | 1.76M | 1.61M | 1.23M | 1.38M |
| Total Current Liabilities | 162.42M | 104.50M | 94.12M | 95.21M | 78.92M | 74.62M |
| Long-Term Debt | 354.49M | 292.22M | 211.83M | 128.24M | 137.48M | 146.52M |
| Long-Term Leases | 17.26M | 17.53M | 10.73M | 3.19M | 4.96M | |
| Long-Term Deferred Tax Liabilities | 28.51M | 30.06M | 18.76M | 4.84M | 3.51M | 1.30M |
| Other Long-Term Liabilities | 7.83M | 7.93M | 5.75M | 2.54M | 1.19M | 722.00K |
| Total Liabilities | 570.50M | 452.23M | 341.20M | 234.02M | 226.06M | 223.16M |
| Common Stock | 4.00K | 4.00K | 4.00K | 4.00K | 4.00K | 3.00K |
| Additional Paid-In Capital | 309.40M | 282.57M | 306.82M | 212.63M | 206.54M | 127.61M |
| Retained Earnings | 39.59M | 34.77M | 6.08M | -16.11M | -42.74M | -37.05M |
| Comprehensive Income & Other | -2.19M | 460.00K | -1.39M | 634.00K | 2.09M | -1.92M |
| Shareholders' Equity | 346.80M | 317.80M | 311.51M | 197.16M | 165.89M | 88.64M |
| Total Liabilities & Equity | 917.30M | 770.03M | 652.71M | 431.18M | 391.95M | 311.80M |
| Total Debt | 400.05M | 332.30M | 238.76M | 147.25M | 158.43M | 160.08M |
| Net Cash (Debt) | -345.28M | -208.22M | -111.08M | -55.91M | -109.52M | -126.22M |
| Net Cash Per Share | -7.73 | -4.79 | -2.75 | -1.47 | -3.03 | -4.41 |
| Filing Date Shares Outstanding | 42.82M | 42.73M | 40.61M | 37.59M | 37.33M | 34.38M |
| Total Common Shares Outstanding | 42.82M | 42.16M | 40.61M | 37.59M | 37.33M | 34.38M |
| Working Capital | 185.70M | 261.37M | 233.45M | 150.64M | 118.10M | 85.36M |
| Book Value Per Share | 8.10 | 7.54 | 7.67 | 5.25 | 4.44 | 2.58 |
| Tangible Book Value | -61.25M | 21.41M | 55.81M | 72.02M | 33.62M | -20.04M |
| Tangible Book Value Per Share | -1.43 | 0.51 | 1.37 | 1.92 | 0.90 | -0.58 |
| Land | 9.46M | 7.52M | 7.61M | 7.54M | 4.62M | |
| Buildings | 45.45M | 24.53M | 24.43M | 22.99M | 17.56M | |
| Machinery | 80.85M | 60.67M | 58.88M | 54.00M | 46.55M | |
| Construction In Progress | 3.17M | 6.91M | 4.69M | 3.44M | 1.50M | |
| Order Backlog | 189.80M | 128.81M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 36.06M | 44.14M | 36.13M | 38.64M | 5.82M | 12.66M |
| Depreciation & Amortization | 22.00M | 18.63M | 16.42M | 15.74M | 15.65M | 13.72M |
| Other Amortization | 969.00K | 1.32M | 1.11M | 479.00K | 740.00K | 3.19M |
| Loss (Gain) From Sale of Assets | 837.00K | 390.00K | 496.00K | -381.00K | -170.00K | |
| Stock-Based Compensation | 12.73M | 12.24M | 8.37M | 9.37M | 31.86M | 355.00K |
| Provision & Write-off of Bad Debts | -493.00K | -108.00K | 764.00K | 66.00K | 417.00K | -188.00K |
| Other Operating Activities | 13.43M | 3.25M | 4.86M | -812.00K | 4.68M | 20.03M |
| Change in Accounts Receivable | -9.33M | 8.36M | -24.90M | 6.60M | -11.54M | -4.64M |
| Change in Inventory | -585.00K | -3.62M | 10.02M | -10.22M | 1.16M | -3.19M |
| Change in Accounts Payable | 24.19M | -16.41M | -15.62M | 14.03M | 5.49M | 2.72M |
| Change in Other Net Operating Assets | -11.43M | -4.50M | -5.87M | -302.00K | -7.71M | -4.56M |
| Operating Cash Flow | 88.38M | 63.70M | 31.78M | 73.21M | 46.41M | 40.09M |
| Capital Expenditures | -10.26M | -6.86M | -5.67M | -6.73M | -4.49M | -2.83M |
| Sale of Property, Plant & Equipment | 71.00K | 77.00K | 55.00K | 207.00K | 411.00K | |
| Cash Acquisitions | -163.85M | -89.59M | -141.81M | -55.54M | ||
| Investing Cash Flow | -174.04M | -96.37M | -147.43M | -6.52M | -59.63M | -2.83M |
| Short-Term Debt Issued | 5.50M | 3.95M | 46.99M | 5.01M | ||
| Long-Term Debt Issued | 97.50M | 129.42M | 456.70M | |||
| Total Debt Issued | 157.50M | 97.50M | 134.92M | 3.95M | 46.99M | 461.71M |
| Short-Term Debt Repaid | -7.69M | -3.97M | -47.95M | -3.06M | ||
| Long-Term Debt Repaid | -13.82M | -43.33M | -10.00M | -10.12M | -524.61M | |
| Total Debt Repaid | -98.77M | -13.82M | -51.02M | -13.97M | -58.07M | -527.67M |
| Net Debt Issued (Repaid) | 58.73M | 83.68M | 83.90M | -10.02M | -11.08M | -65.97M |
| Issuance of Common Stock | 3.38M | 3.38M | 91.78M | 56.33M | 83.42M | |
| Repurchase of Common Stock | -40.30M | -40.23M | -5.31M | -2.73M | -6.30M | |
| Common Dividends Paid | -16.29M | -15.45M | -13.95M | -12.01M | -11.51M | -12.75M |
| Other Financing Activities | 407.00K | 207.00K | -3.75M | 33.00K | -2.98M | -11.30M |
| Financing Cash Flow | 5.92M | 31.59M | 152.67M | -24.72M | 24.46M | -6.60M |
| Foreign Exchange Rate Adjustments | -65.00K | 1.47M | 224.00K | 438.00K | 183.00K | 318.00K |
| Net Cash Flow | -79.80M | 394.00K | 37.24M | 42.41M | 11.43M | 30.98M |
| Free Cash Flow | 78.12M | 56.85M | 26.11M | 66.48M | 41.91M | 37.26M |
| Free Cash Flow Margin | 11.39% | 9.31% | 4.60% | 13.78% | 9.16% | 8.72% |
| Free Cash Flow Per Share | 1.75 | 1.31 | 0.65 | 1.75 | 1.16 | 1.30 |
| Levered Free Cash Flow | 66.18M | 27.99M | 17.51M | 64.28M | 36.22M | 31.38M |
| Unlevered Free Cash Flow | 75.18M | 34.47M | 21.29M | 66.63M | 39.36M | 38.46M |
| Cash Interest Paid | 19.76M | 17.84M | 14.43M | 10.09M | 6.11M | 13.34M |
| Cash Income Tax Paid | 13.64M | 24.92M | 24.21M | 8.73M | 1.40M | 1.16M |
| Change in Working Capital | 2.85M | -16.16M | -36.37M | 10.11M | -12.59M | -9.67M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.35B | 1.66B | 1.31B | 1.24B | 751.87M | 874.02M |
| Enterprise Value | 1.69B | 1.85B | 1.44B | 1.31B | 865.43M | 1.09B |
| Last Close Price | 30.36 | 40.34 | 31.56 | 31.81 | 19.22 | 23.95 |
| PE Ratio | 38.59 | 37.64 | 36.30 | 31.99 | 129.19 | 69.03 |
| Forward PE | 23.86 | 30.28 | 21.85 | 32.81 | 22.94 | 25.37 |
| PS Ratio | 1.98 | 2.72 | 2.31 | 2.56 | 1.64 | 2.05 |
| PB Ratio | 3.75 | 5.23 | 4.21 | 6.27 | 4.53 | 9.86 |
| P/TBV Ratio | 77.59 | 23.50 | 17.16 | 22.36 | ||
| P/FCF Ratio | 17.35 | 29.23 | 50.24 | 18.59 | 17.94 | 23.46 |
| P/OCF Ratio | 15.34 | 26.08 | 41.28 | 16.89 | 16.20 | 21.80 |
| PEG Ratio | 1.74 | 1.93 | 1.74 | 0.52 | 0.44 | |
| EV/Sales Ratio | 2.48 | 3.03 | 2.54 | 2.72 | 1.89 | 2.54 |
| EV/EBITDA Ratio | 16.06 | 19.24 | 15.20 | 17.40 | 20.62 | 15.76 |
| EV/EBIT Ratio | 20.27 | 23.88 | 18.39 | 21.98 | 32.87 | 19.68 |
| EV/FCF Ratio | 21.77 | 32.48 | 55.20 | 19.74 | 20.65 | 29.13 |
| Debt / Equity Ratio | 1.15 | 1.05 | 0.77 | 0.75 | 0.95 | 1.81 |
| Debt / EBITDA Ratio | 3.48 | 3.17 | 2.35 | 1.82 | 3.73 | 2.32 |
| Debt / FCF Ratio | 5.12 | 5.84 | 9.14 | 2.21 | 3.78 | 4.30 |
| Net Debt / Equity Ratio | 1.00 | 0.66 | 0.36 | 0.28 | 0.66 | 1.42 |
| Net Debt / EBITDA Ratio | 3.26 | 2.17 | 1.17 | 0.74 | 2.61 | 1.83 |
| Net Debt / FCF Ratio | 4.42 | 3.66 | 4.25 | 0.84 | 2.61 | 3.39 |
| Asset Turnover | 0.80 | 0.86 | 1.05 | 1.17 | 1.30 | 1.44 |
| Inventory Turnover | 3.29 | 3.83 | 4.04 | 3.73 | 4.14 | 4.11 |
| Quick Ratio | 1.13 | 2.25 | 2.35 | 1.57 | 1.44 | 1.10 |
| Current Ratio | 2.14 | 3.50 | 3.48 | 2.58 | 2.50 | 2.14 |
| Return on Equity (ROE) | 10.62% | 14.03% | 14.21% | 21.29% | 4.57% | 25.97% |
| Return on Assets (ROA) | 6.13% | 6.79% | 9.04% | 9.07% | 4.68% | 11.58% |
| Return on Invested Capital (ROIC) | 8.42% | 11.55% | 15.46% | 16.50% | 6.67% | 16.78% |
| Return on Capital Employed (ROCE) | 11.10% | 11.60% | 14.00% | 17.80% | 8.40% | 23.30% |
| Earnings Yield | 2.59% | 2.66% | 2.76% | 3.13% | 0.77% | 1.45% |
| FCF Yield | 5.76% | 3.42% | 1.99% | 5.38% | 5.58% | 4.26% |
| Dividend Yield | 1.27% | 0.96% | 1.08% | 0.97% | 1.59% | 0.32% |
| Payout Ratio | 48.99% | 35.00% | 38.60% | 31.07% | 197.75% | 100.71% |
| Buyback Yield / Dilution | -8.99% | -7.69% | -6.36% | -4.98% | -26.31% | -4.06% |
| Total Shareholder Return | -7.73% | -6.72% | -5.28% | -4.00% | -24.72% | -3.74% |