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Cadre Holdings, Inc.

Cadre Holdings, Inc.

NYSE•CDRE
CEO: Mr. Warren B. Kanders
Sector: Industrials
Industry: Aerospace & Defense
Listing Date: 2021-11-04
Cadre Holdings, Inc. manufactures and distributes safety that provides protection to users in hazardous or life-threatening situations in the United States and internationally. The company operates in two segments, Products and Distribution. It offers body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brand names; survival suits, remotely operated vehicles, specialty tools, blast sensors, accessories, and vehicle blast attenuation seats for bomb safety technicians; bomb suits; duty gear, including belts and accessories; and other protective equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products. The company also offers third-party products, such as uniforms, optics, boots, firearms, and ammunition. It serves first responders, such as state and local law enforcement, fire and rescue, explosive ordnance disposal technicians, emergency medical technicians, fishing, and wildlife enforcement and departments of corrections, as well as federal agencies including the U.S. Department of State, U.S. Department of Defense, U.S. Department of Interior, U.S. Department of Justice, U.S. Department of Homeland Security, U.S. Department of Corrections, the Department of Energy, Los Alamos National Laboratories, Waste Isolation Plant, and various foreign government agencies. Cadre Holdings, Inc. was founded in 1964 and is headquartered in Jacksonville, Florida.
Contact Information
13386 International Parkway, Jacksonville, FL, 32218, United States
904-741-5400
www.cadre-holdings.com
Market Cap
$1.77B
P/E (TTM)
38.9
36
Dividend Yield
0.9%
52W High
$46.64
52W Low
$27.07
52W Range
84%
3.2
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 3.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2024

Financial Dashboard

Q3 2025 Data

Revenue

$155.87M+42.47%
4-Quarter Trend

EPS

$0.27+200.00%
4-Quarter Trend

FCF

$21.63M-447.14%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Sales Growth Net sales reached $443.08M USD for nine months ended September 2025, marking a 13.2% increase over prior year period.
Strong Net Income Performance Nine month net income grew to $32.40M USD, reflecting a substantial 40.0% increase compared to the same period last year.
Adjusted EBITDA Improvement Adjusted EBITDA for nine months totaled $77.31M USD, showing an $11.0M USD increase driven by gross profit growth and Zircaloy acquisition.
Significant Backlog Increase Orders backlog grew $75.5M USD to $204.29M USD as of September 30, 2025, boosted by Zircaloy acquisition and strong demand.

Risk Factors

Acquisition Integration Uncertainty Final purchase price allocation for Zircaloy remains subject to change within one year, potentially impacting recorded goodwill balances.
Contingent Consideration Volatility ICOR contingent liability remeasurement uses Level 3 inputs; future sales or discount rate changes could alter fair value measurement.
Supply Chain Logistical Risks Forward-looking statements cite risks related to logistical challenges and supply chain disruptions impacting operations and performance.
Cyber Security Incident Impact The company noted the impact of the 2024 cybersecurity incident on comparable period results, highlighting ongoing IT risk exposure.

Outlook

Tyr Tactical Acquisition Pending Definitive agreement signed in October 2025 to acquire Tyr Tactical for $175.0M USD, including cash and stock components.
Capital Resources Adequate Cash flows from operations and available borrowing capacity believed adequate to meet liquidity needs for at least 12 months.
Debt Refinancing Completed Refinanced credit facilities via 2024 Credit Agreement, drawing $97.5M USD on DDTL A-1 facility in April 2025.
Remaining Performance Obligations $69.95M USD in unfulfilled performance obligations expected to be recognized, with 51% recognized over the next twelve months.

Peer Comparison

Revenue (TTM)

Insperity, Inc.NSP
$6.76B
+3.2%
V2X, Inc.VVX
$4.42B
+5.1%
Energizer Holdings, Inc.ENR
$2.93B
+1.1%

Gross Margin (Latest Quarter)

Energizer Holdings, Inc.ENR
55.1%
+15.6 pp
Cadre Holdings, Inc.CDRE
42.7%
+6.2 pp
Helios Technologies, Inc.HLIO
33.1%
+2.0 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
KMT$1.98B21.07.4%23.8%
CECO$1.89B36.618.2%2.8%
HLIO$1.86B55.03.8%10.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-4.0%
Flat Growth
4Q Net Income CAGR
-5.5%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 4, 2025|
    Revenue: $155.87M+42.5%
    |
    EPS: $0.27+200.0%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $157.11M+8.9%
    |
    EPS: $0.30-3.2%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 6, 2025|
    Revenue: $130.11M-5.6%
    |
    EPS: $0.23+27.8%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 11, 2025|
    Revenue: $567.56M+17.6%
    |
    EPS: $0.90-12.6%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 6, 2024|
    Revenue: $109.41M-12.6%
    |
    EPS: $0.09-69.0%
    Meet
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 9, 2024|
    Revenue: $144.31M+19.2%
    |
    EPS: $0.31+6.9%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $137.86M+23.4%
    |
    EPS: $0.18-5.3%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 12, 2024|
    Revenue: $482.53M+5.4%
    |
    EPS: $1.03+543.8%
    Beat