Cadre Holdings, Inc.
Rank #241Capital ReturnCDRE · NYSE · Industrials
Cadre Holdings, Inc. (CDRE) — Rank #241 by gross profitability (GP/assets 0.28) · ROE 12.7% · Piotroski F-Score 6 / 9.
As-of 2026-09-15 · CIK 0001860543 · all metrics point-in-time as of the filing date.
About
Cadre Holdings, Inc. manufactures and distributes safety equipment and other related products that provides protection to users in hazardous or life-threatening situations in the United States and internationally.
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It operates through two segments, Product and Distribution. The company 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. It also provides third-party products, such as uniforms, optics, boots, firearms, and ammunition. In addition, the company designs, manufactures and services equipment, vessels, precision components and remote handling systems for the nuclear, defence, and oil and gas industries. 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, and various foreign government agencies. The company sells its products through its direct sales force, distribution channels and distribution partners/agents, online stores, and third-party resellers. Cadre Holdings, Inc.
was founded in 1964 and is headquartered in Jacksonville, Florida.
- Industry
- Aerospace & Defense
- Sector
- Industrials
- State
- DE
- Filer Category
- Emerging growth company
- Fiscal Year End
- December 31
- Website
- cadre-holdings.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$1.17B
P/E (annual)
26.8
P/S (annual)
1.9
P/B
3.4
P/OCF (annual)
18.4
Shareholder Yield
-6.4%
Employees
2,533
Industry
Aerospace & Defense
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
8.3%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 7.7% — per-share value needs a total required return of 16.0% once share-count change is priced in.
vs. own 6-year median revenue growth: 6.4%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
4.0%
r = 10% (base)
8.3%
r = 12%
12.1%
Net debt / market cap: 26.9%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Disclosure regression check
A previously-disclosed line item is no longer reported. Worth checking the filing for why.
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.28
Primary signal (Novy-Marx).
42nd pctl of 37 SIC 38 peers
Return on equity
12.7%
Gross margin
42.5%
28th pctl of 37 SIC 38 peers
Revenue growth (YoY)
7.5%
RPO growth (YoY)
60.8%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
10.1%
Revenue CAGR (5Y)
8.6%
Earnings CAGR (3Y)
96.5%
FCF CAGR (3Y)
10.7%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.65
6th pctl of 35 SIC 38 peers (best = lowest)
Current ratio
2.14×
37th pctl of 36 SIC 38 peers
Quick ratio
1.12×
Net cash
-$320.35M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$56.85M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.29
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
2.0%
Stock-based comp intensity.
Dividend safety
Composite score
3.0 / 5
Piotroski F-Score
F-Score
6 / 9
Fundamental-strength score (0-9).