Latest Ratios: P/E Ratio 28.8x · EV/EBITDA 15.5x · ROE 14.0%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.8B | $1.3B | $1.2B | $728M | $727M | — | — |
| Enterprise Value | $1.5B | $2.0B | $1.4B | $1.3B | $841M | $853M | — | — |
| P/E Ratio → | 28.75 | 40.04 | 35.89 | 32.25 | 125.88 | 57.77 | — | — |
| P/S Ratio | 2.06 | 2.91 | 2.30 | 2.58 | 1.59 | 1.70 | — | — |
| P/B Ratio | 4.01 | 5.58 | 4.18 | 6.33 | 4.39 | 8.20 | — | — |
| P/FCF | 22.08 | 31.20 | 49.90 | 18.76 | 17.36 | 19.51 | — | — |
| P/OCF | 19.70 | 27.84 | 41.00 | 17.04 | 15.68 | 18.13 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.23 | 2.50 | 2.71 | 1.84 | 2.00 | — | — |
| EV / EBITDA | 15.47 | 20.99 | 17.03 | 18.08 | 25.97 | 13.03 | — | — |
| EV / EBIT | 19.38 | 26.29 | 22.83 | 22.74 | 53.96 | 23.94 | — | — |
| EV / FCF | — | 34.71 | 54.26 | 19.65 | 20.06 | 22.89 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.2% | 41.2% | 41.1% | 41.6% | 38.4% | 39.9% | 37.8% | 34.7% |
| Operating Margin | 12.3% | 12.3% | 11.8% | 11.7% | 3.7% | 12.1% | 12.3% | 6.5% |
| Net Profit Margin | 7.2% | 7.2% | 6.4% | 8.0% | 1.3% | 3.0% | 9.5% | -0.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 14.0% | 14.0% | 14.2% | 21.3% | 4.6% | 26.0% | 434.4% | — |
| ROA | 6.2% | 6.2% | 6.7% | 9.4% | 1.7% | 4.3% | 13.0% | -0.6% |
| ROIC | 11.9% | 11.9% | 14.7% | 15.8% | 5.1% | 17.9% | 16.2% | 8.5% |
| ROCE | 12.3% | 12.3% | 14.9% | 17.4% | 6.1% | 22.6% | 21.4% | 11.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.01 | 1.01 | 0.77 | 0.74 | 0.95 | 1.80 | 24.04 | — |
| Debt / EBITDA | 3.43 | 3.43 | 2.87 | 2.03 | 4.89 | 2.44 | 3.30 | 6.41 |
| Net Debt / Equity | — | 0.63 | 0.37 | 0.30 | 0.68 | 1.42 | 23.72 | — |
| Net Debt / EBITDA | 2.12 | 2.12 | 1.37 | 0.82 | 3.50 | 1.92 | 3.25 | 6.35 |
| Debt / FCF | — | 3.51 | 4.36 | 0.89 | 2.70 | 3.38 | 5.16 | 62.82 |
| Interest Coverage | 6.34 | 6.34 | 7.93 | 12.68 | 2.51 | 2.17 | 2.14 | 0.93 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.50 | 3.50 | 3.48 | 2.58 | 2.50 | 2.14 | 1.88 | 2.27 |
| Quick Ratio | 2.54 | 2.54 | 2.61 | 1.73 | 1.61 | 1.29 | 0.90 | 1.28 |
| Cash Ratio | 1.18 | 1.18 | 1.33 | 0.92 | 0.57 | 0.45 | 0.05 | 0.04 |
| Asset Turnover | — | 0.79 | 0.87 | 1.12 | 1.17 | 1.37 | 1.43 | 1.37 |
| Inventory Turnover | 3.58 | 3.58 | 4.06 | 3.48 | 4.02 | 4.01 | 4.13 | 4.42 |
| Days Sales Outstanding | — | 66.15 | 60.14 | 44.15 | 51.47 | 41.30 | 39.37 | 48.21 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.2% | 0.9% | 1.1% | 1.0% | 1.6% | 1.8% | — | — |
| Payout Ratio | 35.0% | 35.0% | 38.6% | 31.1% | 197.7% | 100.7% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.5% | 2.5% | 2.8% | 3.1% | 0.8% | 1.7% | — | — |
| FCF Yield | 4.5% | 3.2% | 2.0% | 5.3% | 5.8% | 5.1% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 1.2% | 0.9% | 1.1% | 1.0% | 1.6% | 1.8% | — | — |
| Shares Outstanding | — | $43M | $40M | $38M | $36M | $29M | $33M | $33M |
Municipal budget dependency
According to current market data, CDRE trades at a forward P/E of 24.54, which appears to reflect a premium for its defensive municipal demand profile rather than its recent, somewhat inconsistent organic growth trajectory compared to broader industrial peers like MSA Safety or Axon Enterprise.
The valuation suggests that investors are pricing in the durability of the company's replacement-cycle revenue rather than immediate top-line expansion. While the multiple is lower than high-growth SaaS-adjacent peers, it remains elevated for a manufacturing-heavy business, implying that the market expects continued margin stability from its proprietary holster and EOD product lines.
Based on reported financial figures, CDRE's ROIC has struggled to gain sustained momentum, fluctuating between 1.0% and 5.2% over the last ten quarters, which suggests that the company's aggressive bolt-on acquisition strategy is currently diluting the efficiency of its invested capital base.
The low ROIC relative to historical peaks indicates that the integration of acquired entities is not yet yielding the expected returns on capital. Investors should monitor whether the company can improve its asset turnover, which has remained stagnant, to better leverage its existing distribution network and drive higher returns.
As indicated by the quarterly data, CDRE's cash conversion cycle has remained elevated, peaking at 150 days in 2024Q3, which highlights the inherent difficulty in managing inventory levels for specialized ballistic materials and the resulting drag on overall operational efficiency compared to industry benchmarks.
The high DIO, which reached 113 days in 2025Q3, suggests that the company is carrying significant inventory to mitigate supply chain risks, which may be necessary but ultimately ties up capital. This inefficiency in working capital management appears to be a structural feature of the business model, requiring careful monitoring of inventory obsolescence risks.
The most commonly misapplied metric for CDRE is top-line revenue growth, which obscures the underlying durability of the company's five-year replacement cycle for safety equipment and the strategic importance of its distribution segment as a recurring revenue anchor for municipal law enforcement clients.
Focusing solely on headline revenue growth ignores the non-discretionary nature of the company's product demand, which provides a level of earnings stability that is often undervalued by the market. Analysts should instead prioritize free cash flow conversion and gross margin stability as more accurate indicators of the business's long-term health and competitive moat.
Includes 30+ ratios · 7 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CDRE stock.
Cadre Holdings, Inc.'s current P/E ratio is 28.8x. The historical average is 58.4x.
Cadre Holdings, Inc.'s current EV/EBITDA is 15.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.0x.
Cadre Holdings, Inc.'s return on equity (ROE) is 14.0%. The historical average is 85.8%.
Based on historical data, Cadre Holdings, Inc. is trading at a P/E of 28.8x. Compare with industry peers and growth rates for a complete picture.
Cadre Holdings, Inc.'s current dividend yield is 1.21% with a payout ratio of 35.0%.
Cadre Holdings, Inc. has 41.2% gross margin and 12.3% operating margin. Operating margin between 10-20% is typical for established companies.
Cadre Holdings, Inc.'s Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.