Cadre (CDRE) Financials

$30.01 +0.62 (+2.11%)

As of 04/24/2025 03:59 PM Eastern

Annual Income Statements for Cadre

This table shows Cadre's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	38	13	5.82	39	36
Consolidated Net Income / (Loss)	38	13	5.82	39	36
Net Income / (Loss) Continuing Operations	38	13	5.82	39	36
Total Pre-Tax Income	28	19	9.37	53	54
Total Operating Income	50	52	17	57	67
Total Gross Profit	153	171	176	201	233
Total Revenue	405	427	458	483	568
Operating Revenue	405	427	458	483	568
Total Cost of Revenue	252	257	282	282	334
Operating Cost of Revenue	252	257	282	282	334
Total Operating Expenses	103	119	159	144	167
Selling, General & Admin Expense	107	115	153	141	158
Other Operating Expenses / (Income)	-9.32	0.58	1.48	1.50	2.39
Restructuring Charge	5.82	3.43	4.36	2.19	6.01
Total Other Income / (Expense), net	-22	-33	-7.34	-3.60	-13
Interest Expense	25	32	6.21	4.53	7.82
Other Income / (Expense), net	2.66	-0.95	-1.14	0.94	-4.72
Income Tax Expense	-11	6.53	3.55	14	18
Basic Earnings per Share	$1.40	$0.44	$0.16	$1.03	$0.90
Weighted Average Basic Shares Outstanding	27.48M	28.60M	36.11M	37.53M	39.95M
Diluted Earnings per Share	$1.40	$0.44	$0.16	$1.02	$0.90
Weighted Average Diluted Shares Outstanding	27.48M	28.60M	36.12M	37.92M	40.33M
Weighted Average Basic & Diluted Shares Outstanding	-	28.60M	37.33M	37.59M	40.61M
Cash Dividends to Common per Share	-	-	$0.08	$0.08	$0.09

This table shows Cadre's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	4.94	6.60	7.00	11	11	9.59	6.93	13	3.66	13
Consolidated Net Income / (Loss)	4.94	6.60	7.00	11	11	9.59	6.93	13	3.66	13
Net Income / (Loss) Continuing Operations	4.94	6.60	7.00	11	11	9.59	6.93	13	3.66	13
Total Pre-Tax Income	6.90	13	9.94	15	15	12	8.90	18	4.99	23
Total Operating Income	10	13	11	16	17	13	12	20	5.43	29
Total Gross Profit	44	49	47	51	54	50	58	59	40	77
Total Revenue	112	124	112	121	125	125	138	144	109	176
Operating Revenue	112	124	112	121	125	125	138	144	109	176
Total Cost of Revenue	68	75	65	70	72	75	80	86	69	99
Operating Cost of Revenue	68	75	65	70	72	75	80	86	69	99
Total Operating Expenses	33	36	35	35	37	37	46	39	35	48
Selling, General & Admin Expense	32	35	35	34	36	35	41	39	34	45
Other Operating Expenses / (Income)	0.11	0.13	0.15	0.12	0.12	1.12	1.84	0.10	0.09	0.35
Restructuring Charge	1.58	0.98	0.00	0.69	0.44	1.06	3.09	0.02	0.52	2.39
Total Other Income / (Expense), net	-3.42	-0.04	-1.28	-0.67	-1.39	-0.26	-3.08	-2.34	-0.44	-6.69
Interest Expense	1.57	1.71	1.64	1.01	1.07	0.80	1.64	2.00	1.99	2.19
Other Income / (Expense), net	-1.85	1.68	0.36	0.35	-0.32	0.54	-1.44	-0.34	1.56	-4.50
Income Tax Expense	1.96	6.09	2.94	4.23	4.29	2.82	1.97	5.05	1.34	9.73
Basic Earnings per Share	$0.13	$0.20	$0.19	$0.29	$0.29	$0.26	$0.18	$0.31	$0.09	$0.32
Weighted Average Basic Shares Outstanding	37.29M	36.11M	37.37M	37.59M	37.59M	37.53M	37.95M	40.61M	40.61M	39.95M
Diluted Earnings per Share	$0.13	$0.21	$0.19	$0.29	$0.29	$0.25	$0.18	$0.31	$0.09	$0.32
Weighted Average Diluted Shares Outstanding	37.75M	36.12M	37.63M	37.85M	37.93M	37.92M	38.55M	40.86M	40.95M	40.33M
Weighted Average Basic & Diluted Shares Outstanding	37.33M	37.33M	37.59M	37.59M	37.59M	37.59M	40.61M	40.61M	40.61M	40.61M

This table details how cash moves in and out of Cadre's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	0.35	31	11	42	37
Net Cash From Operating Activities	45	40	46	73	32
Net Cash From Continuing Operating Activities	45	40	46	73	32
Net Income / (Loss) Continuing Operations	38	13	5.82	39	36
Consolidated Net Income / (Loss)	38	13	5.82	39	36
Depreciation Expense	15	14	16	16	16
Amortization Expense	2.22	3.19	5.00	0.48	4.97
Non-Cash Adjustments To Reconcile Net Income	-15	15	34	8.83	11
Changes in Operating Assets and Liabilities, net	5.16	-4.90	-14	9.52	-37
Net Cash From Investing Activities	20	-2.83	-60	-6.52	-147
Net Cash From Continuing Investing Activities	20	-2.83	-60	-6.52	-147
Purchase of Property, Plant & Equipment	-4.71	-2.83	-4.49	-6.73	-5.67
Acquisitions	-	0.00	-56	0.00	-142
Sale of Property, Plant & Equipment	12	0.00	0.41	0.21	0.06
Net Cash From Financing Activities	-65	-6.60	24	-25	153
Net Cash From Continuing Financing Activities	-65	-6.60	24	-25	153
Repayment of Debt	-666	-531	-53	-9.97	-52
Payment of Dividends	0.00	-13	-12	-12	-14
Issuance of Debt	602	457	43	0.00	135
Issuance of Common Equity	0.00	83	56	0.00	92
Other Financing Activities, net	-0.45	-2.89	-10	-2.75	-8.18
Effect of Exchange Rate Changes	0.05	0.32	0.18	0.44	0.22
Cash Interest Paid	-	13	6.11	10	14
Cash Income Taxes Paid	-	1.16	1.40	8.73	24

This table details how cash moves in and out of Cadre's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	7.49	8.94	3.01	7.49	14	18	-0.64	19	-13	32
Net Cash From Operating Activities	4.48	17	13	16	18	27	2.14	11	-5.21	24
Net Cash From Continuing Operating Activities	4.48	17	13	16	18	27	2.14	11	-5.21	24
Net Income / (Loss) Continuing Operations	4.94	6.60	7.00	11	11	9.59	6.93	13	3.66	13
Consolidated Net Income / (Loss)	4.94	6.60	7.00	11	11	9.59	6.93	13	3.66	13
Depreciation Expense	3.94	4.33	4.26	3.96	4.17	3.35	3.94	4.62	3.76	4.10
Amortization Expense	1.90	1.39	0.06	0.31	-0.02	0.12	0.92	1.89	1.83	0.33
Non-Cash Adjustments To Reconcile Net Income	4.57	1.55	2.57	1.48	2.80	1.98	3.48	2.41	0.33	4.79
Changes in Operating Assets and Liabilities, net	-11	3.04	-1.18	-1.20	-0.01	12	-13	-10	-15	1.52
Net Cash From Investing Activities	-0.47	-1.65	-0.58	-1.62	-1.84	-2.48	-143	-2.49	-0.99	-1.31
Net Cash From Continuing Investing Activities	-0.47	-1.65	-0.58	-1.62	-1.84	-2.48	-143	-2.49	-0.99	-1.31
Purchase of Property, Plant & Equipment	-0.47	-1.56	-0.78	-1.62	-1.84	-2.48	-1.34	-2.02	-1.02	-1.29
Sale of Property, Plant & Equipment	-	0.41	0.20	0.01	-	0.00	0.00	0.05	0.03	-0.02
Net Cash From Financing Activities	3.86	-6.75	-9.30	-6.60	-2.28	-6.54	140	10	-7.05	9.84
Net Cash From Continuing Financing Activities	3.86	-6.75	-9.30	-6.60	-2.28	-6.54	140	10	-7.05	9.84
Repayment of Debt	2.50	-2.63	-2.50	-2.50	-2.50	-2.47	-8.84	-3.53	-3.50	-36
Payment of Dividends	-2.99	-2.99	-2.99	-3.01	-3.01	-3.01	-3.29	-3.55	-3.55	-3.55
Issuance of Debt	-5.00	-	0.00	-	-	-	86	-	-	49
Effect of Exchange Rate Changes	-0.39	0.42	0.17	0.16	-0.24	0.35	0.07	0.11	0.34	-0.30
Cash Interest Paid	1.53	2.25	2.36	2.50	2.53	2.70	2.50	3.96	4.07	3.91
Cash Income Taxes Paid	0.47	0.69	3.14	4.15	0.64	0.81	9.37	12	1.16	1.45

This table presents Cadre's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Total Assets	283	312	392	431	653
Total Current Assets	117	160	197	246	328
Cash & Equivalents	2.87	34	45	88	125
Accounts Receivable	44	48	65	58	94
Inventories, net	61	64	70	81	82
Prepaid Expenses	6.67	10	10	12	19
Other Current Assets	3.36	3.45	6.81	6.89	7.74
Plant, Property, & Equipment, net	35	33	45	45	45
Total Noncurrent Assets	130	119	150	141	280
Goodwill	66	66	82	82	148
Intangible Assets	51	42	51	43	108
Noncurrent Deferred & Refundable Income Taxes	13	7.06	2.26	4.00	4.55
Other Noncurrent Operating Assets	0.15	3.03	15	12	20
Total Liabilities & Shareholders' Equity	283	312	392	431	653
Total Liabilities	274	223	226	234	341
Total Current Liabilities	62	75	79	95	94
Short-Term Debt	3.50	13	12	12	11
Accounts Payable	22	19	23	28	30
Accrued Expenses	36	41	39	45	46
Current Deferred & Payable Income Tax Liabilities	1.01	1.26	4.58	9.94	6.69
Total Noncurrent Liabilities	212	149	147	139	247
Long-Term Debt	209	147	137	128	212
Capital Lease Obligations	-	0.00	4.97	3.19	11
Noncurrent Deferred & Payable Income Tax Liabilities	2.09	1.30	3.51	4.84	19
Other Noncurrent Operating Liabilities	0.55	0.72	1.19	2.97	5.75
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	8.85	89	166	197	312
Total Preferred & Common Equity	8.85	89	166	197	312
Total Common Equity	8.85	89	166	197	312
Common Stock	49	128	207	213	307
Retained Earnings	-37	-37	-43	-16	6.08
Accumulated Other Comprehensive Income / (Loss)	-2.86	-1.92	2.09	0.63	-1.39

This table presents Cadre's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	375	389	400	421	599	621	617
Total Current Assets	188	198	212	237	269	295	286
Cash & Equivalents	36	48	56	69	87	106	93
Accounts Receivable	56	56	57	61	68	73	69
Inventories, net	79	76	83	83	96	96	100
Prepaid Expenses	8.74	12	10	15	12	9.75	16
Other Current Assets	7.72	6.38	6.41	8.84	6.05	11	8.31
Plant, Property, & Equipment, net	46	45	45	44	47	47	46
Total Noncurrent Assets	142	145	143	140	283	279	284
Goodwill	77	81	82	81	149	148	149
Intangible Assets	52	49	47	44	115	112	111
Noncurrent Deferred & Refundable Income Taxes	5.35	2.29	2.35	2.30	3.97	3.84	3.87
Other Noncurrent Operating Assets	7.63	13	12	12	16	15	21
Total Liabilities & Shareholders' Equity	375	389	400	421	599	621	617
Total Liabilities	219	220	219	231	329	321	316
Total Current Liabilities	74	75	78	90	96	93	95
Short-Term Debt	13	11	10	13	15	13	13
Accounts Payable	25	27	30	31	30	31	28
Accrued Expenses	36	33	34	39	47	47	47
Current Deferred & Payable Income Tax Liabilities	0.96	4.09	4.28	7.05	2.57	1.79	7.14
Total Noncurrent Liabilities	144	144	141	141	233	228	221
Long-Term Debt	140	135	133	130	201	198	195
Capital Lease Obligations	-	4.20	3.21	3.60	5.82	6.06	12
Noncurrent Deferred & Payable Income Tax Liabilities	3.53	3.61	3.76	5.05	22	19	8.78
Other Noncurrent Operating Liabilities	0.90	1.20	1.31	1.84	5.21	5.06	5.49
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	157	169	181	190	271	299	300
Total Preferred & Common Equity	157	169	181	190	271	299	300
Total Common Equity	157	169	181	190	271	299	300
Common Stock	204	206	208	211	282	303	305
Retained Earnings	-46	-39	-31	-23	-12	-3.45	-3.35
Accumulated Other Comprehensive Income / (Loss)	-0.85	1.72	2.75	2.14	0.99	0.23	-1.08

This table displays calculated financial ratios and metrics derived from Cadre's official financial filings.

Metric	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	5.60%	7.15%	5.39%	17.62%
EBITDA Growth	0.00%	-2.49%	-46.48%	103.37%	13.24%
EBIT Growth	0.00%	-3.22%	-69.32%	268.80%	7.98%
NOPAT Growth	0.00%	-50.34%	-69.58%	297.57%	7.82%
Net Income Growth	0.00%	-67.07%	-54.03%	563.93%	-6.49%
EPS Growth	0.00%	-68.57%	-63.64%	537.50%	-11.76%
Operating Cash Flow Growth	0.00%	-11.72%	15.75%	57.75%	-56.59%
Free Cash Flow Firm Growth	0.00%	0.00%	-231.26%	226.77%	-293.37%
Invested Capital Growth	0.00%	-1.91%	28.26%	-8.16%	66.35%
Revenue Q/Q Growth	0.00%	0.00%	4.59%	0.19%	9.96%
EBITDA Q/Q Growth	0.00%	0.00%	23.36%	-4.44%	17.86%
EBIT Q/Q Growth	0.00%	0.00%	49.30%	-2.01%	23.22%
NOPAT Q/Q Growth	0.00%	0.00%	-19.06%	8.87%	19.26%
Net Income Q/Q Growth	0.00%	0.00%	65.86%	8.40%	10.35%
EPS Q/Q Growth	0.00%	0.00%	100.00%	4.08%	8.43%
Operating Cash Flow Q/Q Growth	0.00%	-16.85%	20.21%	15.90%	-9.25%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	46.32%	-0.72%
Invested Capital Q/Q Growth	0.00%	0.00%	0.68%	-5.59%	-1.61%
Profitability Metrics	-	-	-	-	-
Gross Margin	37.80%	39.95%	38.37%	41.60%	41.14%
EBITDA Margin	17.15%	15.84%	7.91%	15.27%	14.70%
Operating Margin	12.31%	12.10%	3.65%	11.71%	11.76%
EBIT Margin	12.97%	11.88%	3.40%	11.91%	10.93%
Profit (Net Income) Margin	9.50%	2.96%	1.27%	8.01%	6.37%
Tax Burden Percent	137.95%	65.97%	62.09%	73.01%	66.64%
Interest Burden Percent	53.13%	37.80%	60.16%	92.11%	87.39%
Effective Tax Rate	-37.95%	34.03%	37.91%	26.99%	33.36%
Return on Invested Capital (ROIC)	31.40%	15.75%	4.24%	15.63%	13.22%
ROIC Less NNEP Spread (ROIC-NNEP)	16.99%	2.97%	0.36%	12.45%	3.06%
Return on Net Nonoperating Assets (RNNOA)	403.05%	10.23%	0.34%	5.66%	0.99%
Return on Equity (ROE)	434.45%	25.97%	4.57%	21.29%	14.21%
Cash Return on Invested Capital (CROIC)	0.00%	17.68%	-20.53%	24.14%	-36.61%
Operating Return on Assets (OROA)	18.52%	17.06%	4.43%	13.96%	11.45%
Return on Assets (ROA)	13.57%	4.26%	1.65%	9.39%	6.67%
Return on Common Equity (ROCE)	434.45%	25.97%	4.57%	21.29%	14.21%
Return on Equity Simple (ROE_SIMPLE)	434.45%	14.28%	3.51%	19.60%	11.60%
Net Operating Profit after Tax (NOPAT)	69	34	10	41	44
NOPAT Margin	16.98%	7.99%	2.27%	8.55%	7.84%
Net Nonoperating Expense Percent (NNEP)	14.41%	12.78%	3.88%	3.18%	10.15%
Return On Investment Capital (ROIC_SIMPLE)	-	-	3.24%	12.12%	8.16%
Cost of Revenue to Revenue	62.20%	60.05%	61.63%	58.40%	58.86%
SG&A Expenses to Revenue	26.35%	26.91%	33.45%	29.12%	27.90%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.49%	27.84%	34.72%	29.89%	29.37%
Earnings before Interest and Taxes (EBIT)	52	51	16	57	62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	69	68	36	74	83
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	8.81	9.53	4.42	6.19	4.20
Price to Tangible Book Value (P/TBV)	0.00	0.00	21.79	16.95	23.44
Price to Revenue (P/Rev)	0.19	1.98	1.60	2.53	2.31
Price to Earnings (P/E)	2.03	66.72	125.86	31.59	36.21
Dividend Yield	0.00%	0.33%	2.04%	0.99%	1.09%
Earnings Yield	49.30%	1.50%	0.79%	3.17%	2.76%
Enterprise Value to Invested Capital (EV/IC)	1.32	4.52	3.06	5.05	3.37
Enterprise Value to Revenue (EV/Rev)	0.71	2.27	1.84	2.65	2.50
Enterprise Value to EBITDA (EV/EBITDA)	4.15	14.34	23.24	17.33	16.99
Enterprise Value to EBIT (EV/EBIT)	5.49	19.12	54.04	22.22	22.85
Enterprise Value to NOPAT (EV/NOPAT)	4.19	28.45	81.11	30.93	31.86
Enterprise Value to Operating Cash Flow (EV/OCF)	6.34	24.21	18.14	17.43	44.61
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	25.34	0.00	20.03	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	24.04	1.80	0.93	0.73	0.75
Long-Term Debt to Equity	23.65	1.65	0.86	0.66	0.71
Financial Leverage	23.72	3.45	0.92	0.45	0.32
Leverage Ratio	32.01	6.10	2.76	2.27	2.13
Compound Leverage Factor	17.01	2.31	1.66	2.09	1.86
Debt to Total Capital	96.01%	64.31%	48.25%	42.09%	42.89%
Short-Term Debt to Total Capital	1.58%	5.31%	3.81%	3.62%	2.09%
Long-Term Debt to Total Capital	94.43%	59.00%	44.44%	38.47%	40.80%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	3.99%	35.69%	51.75%	57.91%	57.11%
Debt to EBITDA	3.07	2.36	4.27	1.95	2.80
Net Debt to EBITDA	3.02	1.86	3.02	0.76	1.31
Long-Term Debt to EBITDA	3.02	2.16	3.93	1.78	2.67
Debt to NOPAT	3.10	4.68	14.90	3.47	5.26
Net Debt to NOPAT	3.06	3.69	10.54	1.35	2.45
Long-Term Debt to NOPAT	3.05	4.29	13.72	3.17	5.00
Altman Z-Score	2.26	4.34	3.45	5.06	3.93
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	1.88	2.14	2.50	2.58	3.48
Quick Ratio	0.74	1.10	1.39	1.53	2.32
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	38	-50	64	-123
Operating Cash Flow to CapEx	0.00%	1,415.75%	1,136.64%	1,122.84%	566.13%
Free Cash Flow to Firm to Interest Expense	0.00	1.21	-8.10	14.07	-15.76
Operating Cash Flow to Interest Expense	1.85	1.27	7.48	16.16	4.06
Operating Cash Flow Less CapEx to Interest Expense	2.16	1.18	6.82	14.72	3.34
Efficiency Ratios	-	-	-	-	-
Asset Turnover	1.43	1.44	1.30	1.17	1.05
Accounts Receivable Turnover	9.27	9.29	8.11	7.85	7.47
Inventory Turnover	4.13	4.11	4.20	3.73	4.09
Fixed Asset Turnover	11.42	12.48	11.69	10.73	12.63
Accounts Payable Turnover	11.45	12.42	13.21	10.88	11.51
Days Sales Outstanding (DSO)	39.37	39.29	45.00	46.49	48.84
Days Inventory Outstanding (DIO)	88.35	88.83	86.83	97.95	89.22
Days Payable Outstanding (DPO)	31.87	29.38	27.64	33.56	31.72
Cash Conversion Cycle (CCC)	95.84	98.75	104.20	110.88	106.34
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	219	215	275	253	421
Invested Capital Turnover	1.85	1.97	1.87	1.83	1.69
Increase / (Decrease) in Invested Capital	0.00	-4.18	61	-22	168
Enterprise Value (EV)	288	971	842	1,276	1,417
Market Capitalization	78	845	733	1,221	1,308
Book Value per Share	$0.32	$2.58	$4.44	$5.25	$7.67
Tangible Book Value per Share	($3.95)	($0.58)	$0.90	$1.92	$1.37
Total Capital	222	248	321	340	545
Total Debt	213	160	155	143	234
Total Long-Term Debt	209	147	142	131	223
Net Debt	210	126	109	56	109
Capital Expenditures (CapEx)	-7.70	2.83	4.08	6.52	5.61
Debt-free, Cash-free Net Working Capital (DFCFNWC)	56	65	85	75	120
Debt-free Net Working Capital (DFNWC)	58	99	130	163	245
Net Working Capital (NWC)	55	85	118	151	233
Net Nonoperating Expense (NNE)	30	21	4.56	2.62	8.36
Net Nonoperating Obligations (NNO)	210	126	109	56	109
Total Depreciation and Amortization (D&A)	17	17	21	16	21
Debt-free, Cash-free Net Working Capital to Revenue	13.74%	15.14%	18.57%	15.60%	21.12%
Debt-free Net Working Capital to Revenue	14.45%	23.06%	28.46%	33.77%	43.14%
Net Working Capital to Revenue	13.59%	19.98%	25.79%	31.22%	41.13%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.44	$0.16	$1.03	$0.90
Adjusted Weighted Average Basic Shares Outstanding	0.00	28.60M	36.11M	37.53M	39.95M
Adjusted Diluted Earnings per Share	$0.00	$0.44	$0.16	$1.02	$0.90
Adjusted Weighted Average Diluted Shares Outstanding	0.00	28.60M	36.12M	37.92M	40.33M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	28.60M	37.33M	37.59M	40.61M
Normalized Net Operating Profit after Tax (NOPAT)	39	36	13	43	48
Normalized NOPAT Margin	9.62%	8.51%	2.86%	8.88%	8.54%
Pre Tax Income Margin	6.89%	4.49%	2.05%	10.97%	9.55%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	2.13	1.61	2.51	12.68	7.93
NOPAT to Interest Expense	2.79	1.08	1.67	9.11	5.69
EBIT Less CapEx to Interest Expense	2.45	1.52	1.85	11.24	7.21
NOPAT Less CapEx to Interest Expense	3.11	0.99	1.01	7.67	4.97
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	100.71%	197.75%	31.07%	38.60%
Augmented Payout Ratio	0.00%	100.71%	197.75%	31.07%	38.60%

This table displays calculated financial ratios and metrics derived from Cadre's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.08%	19.42%	7.03%	2.41%	12.16%	0.76%	23.37%	19.18%	-12.55%	41.26%
EBITDA Growth	-4.96%	51.75%	244.21%	59.72%	43.80%	-17.03%	-3.23%	27.45%	-38.89%	75.74%
EBIT Growth	-24.33%	55.59%	178.87%	119.35%	93.92%	-8.20%	-9.06%	20.84%	-57.48%	88.43%
NOPAT Growth	-8.55%	15.21%	177.94%	88.67%	63.13%	48.06%	18.04%	24.07%	-67.03%	71.53%
Net Income Growth	193.12%	53.89%	168.88%	147.29%	123.70%	45.39%	-1.06%	14.33%	-66.93%	35.32%
EPS Growth	168.42%	61.54%	163.33%	141.67%	123.08%	19.05%	-5.26%	6.90%	-68.97%	28.00%
Operating Cash Flow Growth	96.45%	85.70%	42.69%	-3.45%	301.32%	59.39%	-83.20%	-28.33%	-128.98%	-12.02%
Free Cash Flow Firm Growth	85.42%	0.00%	91.64%	104.13%	153.94%	159.71%	-488.84%	-1,254.30%	-979.14%	-567.78%
Invested Capital Growth	17.25%	28.26%	11.97%	0.21%	-2.07%	-8.16%	49.24%	51.81%	59.63%	66.35%
Revenue Q/Q Growth	-5.65%	10.84%	-9.62%	8.36%	3.33%	-0.42%	10.66%	4.68%	-24.18%	60.85%
EBITDA Q/Q Growth	11.43%	40.63%	-20.91%	28.88%	0.32%	-18.86%	-7.76%	69.74%	-51.90%	133.34%
EBIT Q/Q Growth	14.40%	70.05%	-19.54%	40.14%	1.14%	-19.50%	-20.30%	86.21%	-64.41%	256.78%
NOPAT Q/Q Growth	21.49%	-10.44%	19.41%	45.21%	5.05%	-18.71%	-4.80%	52.63%	-72.08%	322.83%
Net Income Q/Q Growth	11.16%	33.56%	6.11%	56.98%	0.55%	-13.20%	-27.79%	81.39%	-70.92%	255.21%
EPS Q/Q Growth	8.33%	61.54%	-9.52%	52.63%	0.00%	-13.79%	-28.00%	72.22%	-70.97%	255.56%
Operating Cash Flow Q/Q Growth	-72.16%	277.16%	-24.76%	22.21%	15.72%	49.79%	-92.07%	421.43%	-146.79%	554.76%
Free Cash Flow Firm Q/Q Growth	87.57%	-64.61%	60.90%	151.67%	62.23%	82.19%	-485.57%	-1.28%	-23.56%	3.06%
Invested Capital Q/Q Growth	1.22%	0.68%	-1.34%	-0.34%	-1.08%	-5.59%	60.33%	1.38%	4.02%	-1.61%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.21%	39.25%	41.72%	41.91%	42.84%	39.94%	41.80%	40.64%	36.58%	43.86%
EBITDA Margin	12.82%	16.27%	14.24%	16.93%	16.44%	13.40%	11.17%	18.11%	11.49%	16.67%
Operating Margin	9.25%	10.29%	10.04%	13.12%	13.38%	10.18%	8.69%	13.83%	4.96%	16.71%
EBIT Margin	7.59%	11.64%	10.37%	13.41%	13.12%	10.61%	7.64%	13.59%	6.38%	14.15%
Profit (Net Income) Margin	4.43%	5.34%	6.27%	9.08%	8.83%	7.70%	5.03%	8.71%	3.34%	7.38%
Tax Burden Percent	71.61%	52.01%	70.42%	72.22%	72.03%	77.28%	77.86%	71.35%	73.25%	57.15%
Interest Burden Percent	81.49%	88.12%	85.83%	93.76%	93.46%	93.92%	84.46%	89.79%	71.48%	91.20%
Effective Tax Rate	28.39%	47.99%	29.58%	27.78%	27.97%	22.72%	22.14%	28.65%	26.75%	42.85%
Return on Invested Capital (ROIC)	11.45%	10.00%	12.79%	16.40%	17.15%	14.37%	10.17%	15.40%	5.39%	16.10%
ROIC Less NNEP Spread (ROIC-NNEP)	10.02%	9.99%	12.07%	15.95%	16.12%	14.13%	8.14%	13.74%	5.08%	11.46%
Return on Net Nonoperating Assets (RNNOA)	20.95%	9.23%	11.31%	10.44%	9.05%	6.42%	4.38%	5.78%	2.12%	3.71%
Return on Equity (ROE)	32.39%	19.24%	24.11%	26.85%	26.20%	20.79%	14.55%	21.17%	7.52%	19.81%
Cash Return on Invested Capital (CROIC)	0.00%	-20.53%	-0.61%	12.03%	16.10%	24.14%	-26.93%	-27.84%	-35.20%	-36.61%
Operating Return on Assets (OROA)	9.81%	15.15%	13.58%	16.31%	15.89%	12.44%	7.87%	14.17%	6.35%	14.82%
Return on Assets (ROA)	5.73%	6.94%	8.21%	11.04%	10.69%	9.03%	5.17%	9.08%	3.33%	7.73%
Return on Common Equity (ROCE)	32.39%	19.24%	24.11%	26.85%	26.20%	20.79%	14.55%	21.17%	7.52%	19.81%
Return on Equity Simple (ROE_SIMPLE)	2.24%	0.00%	13.57%	16.36%	18.76%	0.00%	14.25%	13.41%	10.90%	0.00%
Net Operating Profit after Tax (NOPAT)	7.39	6.62	7.90	11	12	9.80	9.33	14	3.97	17
NOPAT Margin	6.62%	5.35%	7.07%	9.48%	9.63%	7.86%	6.77%	9.86%	3.63%	9.55%
Net Nonoperating Expense Percent (NNEP)	1.43%	0.02%	0.72%	0.45%	1.03%	0.25%	2.03%	1.65%	0.31%	4.64%
Return On Investment Capital (ROIC_SIMPLE)	-	2.06%	-	-	-	2.88%	-	-	-	3.08%
Cost of Revenue to Revenue	60.79%	60.75%	58.28%	58.09%	57.16%	60.06%	58.20%	59.36%	63.43%	56.14%
SG&A Expenses to Revenue	28.45%	28.06%	31.54%	28.12%	29.02%	28.02%	29.54%	26.73%	31.06%	25.60%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	29.96%	28.96%	31.68%	28.79%	29.47%	29.76%	33.11%	26.82%	31.62%	27.15%
Earnings before Interest and Taxes (EBIT)	8.47	14	12	16	16	13	11	20	6.98	25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14	20	16	21	21	17	15	26	13	29
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.60	4.42	4.66	4.48	5.20	6.19	5.00	4.54	5.12	4.20
Price to Tangible Book Value (P/TBV)	31.50	21.79	20.05	15.53	15.34	16.95	199.74	34.85	38.13	23.44
Price to Revenue (P/Rev)	2.00	1.60	1.70	1.73	2.05	2.53	2.66	2.56	2.98	2.31
Price to Earnings (P/E)	249.95	125.86	34.37	27.36	27.74	31.59	35.10	33.86	46.95	36.21
Dividend Yield	1.36%	2.04%	1.51%	1.49%	1.22%	0.99%	0.91%	1.00%	0.90%	1.09%
Earnings Yield	0.40%	0.79%	2.91%	3.65%	3.61%	3.17%	2.85%	2.95%	2.13%	2.76%
Enterprise Value to Invested Capital (EV/IC)	3.64	3.06	3.29	3.32	3.98	5.05	3.67	3.58	3.89	3.37
Enterprise Value to Revenue (EV/Rev)	2.27	1.84	1.92	1.92	2.21	2.65	2.93	2.77	3.22	2.50
Enterprise Value to EBITDA (EV/EBITDA)	33.84	23.24	14.12	12.68	13.83	17.33	20.35	18.67	23.51	16.99
Enterprise Value to EBIT (EV/EBIT)	95.24	54.04	21.32	17.72	18.19	22.22	26.39	24.60	33.05	22.85
Enterprise Value to NOPAT (EV/NOPAT)	77.50	81.11	32.48	27.14	28.14	30.93	34.96	32.42	44.61	31.86
Enterprise Value to Operating Cash Flow (EV/OCF)	25.74	18.14	17.77	18.09	16.88	17.43	23.77	25.27	47.53	44.61
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	27.61	24.49	20.03	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.98	0.93	0.89	0.81	0.77	0.73	0.82	0.73	0.73	0.75
Long-Term Debt to Equity	0.89	0.86	0.82	0.75	0.70	0.66	0.76	0.68	0.69	0.71
Financial Leverage	2.09	0.92	0.94	0.65	0.56	0.45	0.54	0.42	0.42	0.32
Leverage Ratio	4.13	2.76	2.68	2.35	2.30	2.27	2.25	2.13	2.12	2.13
Compound Leverage Factor	3.37	2.44	2.30	2.21	2.15	2.13	1.90	1.91	1.51	1.94
Debt to Total Capital	49.44%	48.25%	47.03%	44.71%	43.65%	42.09%	45.02%	42.07%	42.30%	42.89%
Short-Term Debt to Total Capital	4.29%	3.81%	3.48%	3.07%	3.93%	3.62%	3.09%	2.54%	2.52%	2.09%
Long-Term Debt to Total Capital	45.15%	44.44%	43.55%	41.64%	39.72%	38.47%	41.93%	39.53%	39.77%	40.80%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	50.56%	51.75%	52.97%	55.29%	56.35%	57.91%	54.98%	57.93%	57.70%	57.11%
Debt to EBITDA	5.21	4.27	2.38	2.06	1.91	1.95	3.03	2.76	3.11	2.80
Net Debt to EBITDA	3.98	3.02	1.62	1.27	1.01	0.76	1.84	1.42	1.80	1.31
Long-Term Debt to EBITDA	4.76	3.93	2.21	1.92	1.74	1.78	2.82	2.59	2.92	2.67
Debt to NOPAT	11.94	14.90	5.48	4.41	3.88	3.47	5.21	4.79	5.90	5.26
Net Debt to NOPAT	9.10	10.54	3.72	2.72	2.05	1.35	3.16	2.46	3.41	2.45
Long-Term Debt to NOPAT	10.90	13.72	5.07	4.11	3.53	3.17	4.85	4.50	5.55	5.00
Altman Z-Score	3.84	3.44	3.69	3.81	4.19	4.72	3.70	3.88	4.15	3.74
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.53	2.50	2.63	2.71	2.64	2.58	2.82	3.17	3.01	3.48
Quick Ratio	1.24	1.39	1.38	1.44	1.46	1.53	1.62	1.92	1.71	2.32
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-33	-54	-21	11	18	32	-124	-126	-156	-151
Operating Cash Flow to CapEx	964.09%	1,476.68%	2,193.45%	960.88%	975.65%	1,087.53%	159.12%	564.77%	-526.14%	1,815.54%
Free Cash Flow to Firm to Interest Expense	-20.95	-31.60	-12.87	10.78	16.50	40.13	-75.99	-62.91	-78.19	-68.88
Operating Cash Flow to Interest Expense	2.86	9.89	7.75	15.35	16.77	33.52	1.31	5.56	-2.62	10.82
Operating Cash Flow Less CapEx to Interest Expense	2.56	9.22	7.40	13.75	15.05	30.44	0.49	4.58	-3.12	10.23
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.29	1.30	1.31	1.22	1.21	1.17	1.03	1.04	1.00	1.05
Accounts Receivable Turnover	8.93	8.11	8.64	8.22	8.23	7.85	8.22	8.18	7.90	7.47
Inventory Turnover	3.61	4.20	3.88	3.49	3.49	3.73	3.45	3.50	3.41	4.09
Fixed Asset Turnover	11.02	11.69	11.51	10.23	10.78	10.73	11.08	11.66	11.49	12.63
Accounts Payable Turnover	11.69	13.21	10.33	9.47	10.21	10.88	10.31	10.22	10.64	11.51
Days Sales Outstanding (DSO)	40.85	45.00	42.26	44.41	44.34	46.49	44.42	44.62	46.21	48.84
Days Inventory Outstanding (DIO)	101.08	86.83	93.96	104.50	104.67	97.95	105.79	104.28	107.18	89.22
Days Payable Outstanding (DPO)	31.21	27.64	35.32	38.54	35.75	33.56	35.40	35.73	34.31	31.72
Cash Conversion Cycle (CCC)	110.72	104.20	100.89	110.37	113.27	110.88	114.81	113.18	119.08	106.34
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	273	275	272	271	268	253	405	411	427	421
Invested Capital Turnover	1.73	1.87	1.81	1.73	1.78	1.83	1.50	1.56	1.49	1.69
Increase / (Decrease) in Invested Capital	40	61	29	0.56	-5.66	-22	134	140	160	168
Enterprise Value (EV)	994	842	892	898	1,067	1,276	1,488	1,471	1,664	1,417
Market Capitalization	877	733	790	808	989	1,221	1,354	1,359	1,537	1,308
Book Value per Share	$4.19	$4.44	$4.54	$4.80	$5.06	$5.25	$7.20	$7.37	$7.39	$7.67
Tangible Book Value per Share	$0.75	$0.90	$1.06	$1.38	$1.71	$1.92	$0.18	$0.96	$0.99	$1.37
Total Capital	310	321	320	326	337	340	492	517	520	545
Total Debt	153	155	150	146	147	143	222	217	220	234
Total Long-Term Debt	140	142	139	136	134	131	206	204	207	223
Net Debt	117	109	102	90	78	56	135	112	127	109
Capital Expenditures (CapEx)	0.47	1.15	0.58	1.62	1.84	2.48	1.34	1.97	0.99	1.31
Debt-free, Cash-free Net Working Capital (DFCFNWC)	90	85	86	88	91	75	102	109	111	120
Debt-free Net Working Capital (DFNWC)	127	130	134	144	160	163	189	215	204	245
Net Working Capital (NWC)	113	118	123	134	147	151	174	202	191	233
Net Nonoperating Expense (NNE)	2.45	0.02	0.90	0.48	1.00	0.20	2.40	1.67	0.32	3.82
Net Nonoperating Obligations (NNO)	117	109	102	90	78	56	135	112	127	109
Total Depreciation and Amortization (D&A)	5.84	5.72	4.33	4.27	4.15	3.47	4.86	6.51	5.59	4.42
Debt-free, Cash-free Net Working Capital to Revenue	20.65%	18.57%	18.47%	18.84%	18.87%	15.60%	20.04%	20.52%	21.50%	21.12%
Debt-free Net Working Capital to Revenue	28.95%	28.46%	28.85%	30.75%	33.28%	33.77%	37.16%	40.44%	39.52%	43.14%
Net Working Capital to Revenue	25.92%	25.79%	26.46%	28.61%	30.53%	31.22%	34.16%	37.97%	36.97%	41.13%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.13	$0.20	$0.19	$0.29	$0.29	$0.26	$0.18	$0.31	$0.09	$0.32
Adjusted Weighted Average Basic Shares Outstanding	37.29M	36.11M	37.37M	37.59M	37.59M	37.53M	37.95M	40.61M	40.61M	39.95M
Adjusted Diluted Earnings per Share	$0.13	$0.21	$0.19	$0.29	$0.29	$0.25	$0.18	$0.31	$0.09	$0.32
Adjusted Weighted Average Diluted Shares Outstanding	37.75M	36.12M	37.63M	37.85M	37.93M	37.92M	38.55M	40.86M	40.95M	40.33M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.33M	37.33M	37.59M	37.59M	37.59M	37.59M	40.61M	40.61M	40.61M	40.61M
Normalized Net Operating Profit after Tax (NOPAT)	8.52	7.12	7.90	12	12	11	12	14	4.35	18
Normalized NOPAT Margin	7.64%	5.76%	7.07%	9.89%	9.89%	8.52%	8.51%	9.87%	3.98%	10.32%
Pre Tax Income Margin	6.19%	10.26%	8.90%	12.57%	12.27%	9.96%	6.45%	12.21%	4.56%	12.91%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.40	8.42	7.06	16.03	15.30	16.44	6.44	9.79	3.51	11.37
NOPAT to Interest Expense	4.72	3.87	4.81	11.33	11.23	12.19	5.70	7.11	2.00	7.67
EBIT Less CapEx to Interest Expense	5.11	7.75	6.71	14.43	13.58	13.36	5.62	8.81	3.01	10.77
NOPAT Less CapEx to Interest Expense	4.42	3.20	4.46	9.73	9.51	9.10	4.88	6.12	1.50	7.07
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	321.35%	197.75%	51.09%	40.53%	33.63%	31.07%	31.92%	32.02%	40.93%	38.60%
Augmented Payout Ratio	321.35%	197.75%	51.09%	40.53%	33.63%	31.07%	31.92%	32.02%	40.93%	38.60%

Frequently Asked Questions About Cadre's Financials

When does Cadre's financial year end?

According to the most recent income statement we have on file, Cadre's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Cadre's net income changed over the last 4 years?

Cadre's net income appears to be on an upward trend, with a most recent value of $36.13 million in 2024, falling from $38.45 million in 2020. The previous period was $38.64 million in 2023.

What is Cadre's operating income?

Cadre's total operating income in 2024 was $66.76 million, based on the following breakdown:

Total Gross Profit: $233.48 million
Total Operating Expenses: $166.72 million

How has Cadre revenue changed over the last 4 years?

Over the last 4 years, Cadre's total revenue changed from $404.64 million in 2020 to $567.56 million in 2024, a change of 40.3%.

How much debt does Cadre have?

Cadre's total liabilities were at $341.20 million at the end of 2024, a 45.8% increase from 2023, and a 24.3% increase since 2020.

How much cash does Cadre have?

In the past 4 years, Cadre's cash and equivalents has ranged from $2.87 million in 2020 to $124.93 million in 2024, and is currently $124.93 million as of their latest financial filing in 2024.

How has Cadre's book value per share changed over the last 4 years?

Over the last 4 years, Cadre's book value per share changed from 0.32 in 2020 to 7.67 in 2024, a change of 2,282.4%.

Related Companies

This page (NYSE:CDRE) was last updated on 4/25/2025 by MarketBeat.com Staff

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Cadre (CDRE) Financials

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Cadre (CDRE) Financials

Annual Income Statements for Cadre

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