Cadre (CDRE)
Market Price (11/7/2026): $32.66 | Market Cap: $1.4 BilSector: Industrials | Industry: Aerospace & Defense
Cadre (CDRE)
Market Price (11/7/2026): $32.66Market Cap: $1.4 BilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% Attractive yieldFCF Yield is 5.5% Low stock price volatilityVol 12M is 48% Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Smart Buildings & Proptech. Themes include Private Real Estate Investment Platforms, and Proptech Platforms. | Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -64% | Key risksCDRE key risks include [1] heightened regulatory and product liability exposure from its specialized safety products and [2] demand volatility tied to fluctuating government budgets. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Attractive yieldFCF Yield is 5.5% |
| Low stock price volatilityVol 12M is 48% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Smart Buildings & Proptech. Themes include Private Real Estate Investment Platforms, and Proptech Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -64% |
| Key risksCDRE key risks include [1] heightened regulatory and product liability exposure from its specialized safety products and [2] demand volatility tied to fluctuating government budgets. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 11/6/2026
Cadre (CDRE) stock has gained about 5% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q3 2026 Performance Exceeding Expectations. Cadre (CDRE) reported robust financial results for its fiscal third quarter, which ended September 30, 2026. The company's net sales reached $202.9 million, marking a 30% increase year-over-year and surpassing analyst consensus estimates of $190.67 million by $12.3 million. Additionally, Cadre achieved a GAAP diluted earnings per share (EPS) of $0.37, significantly beating the analyst consensus of $0.28 by $0.09. Adjusted EBITDA for the quarter also impressed, coming in at $41.1 million, exceeding estimates of $34.17 million.
2. Uplifted Full-Year 2026 Financial Guidance. Following its strong quarterly performance, Cadre raised its full-year 2026 net sales guidance for the second consecutive quarter to a range of $756 million to $769 million. This revised outlook demonstrates management's increased confidence in sustained demand for its products and services. The company also lifted its full-year Adjusted EBITDA guidance to $142 million at the midpoint.
Show more
Cadre (CDRE) stock has gained about 5% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q3 2026 Performance Exceeding Expectations. Cadre (CDRE) reported robust financial results for its fiscal third quarter, which ended September 30, 2026. The company's net sales reached $202.9 million, marking a 30% increase year-over-year and surpassing analyst consensus estimates of $190.67 million by $12.3 million. Additionally, Cadre achieved a GAAP diluted earnings per share (EPS) of $0.37, significantly beating the analyst consensus of $0.28 by $0.09. Adjusted EBITDA for the quarter also impressed, coming in at $41.1 million, exceeding estimates of $34.17 million.
2. Uplifted Full-Year 2026 Financial Guidance. Following its strong quarterly performance, Cadre raised its full-year 2026 net sales guidance for the second consecutive quarter to a range of $756 million to $769 million. This revised outlook demonstrates management's increased confidence in sustained demand for its products and services. The company also lifted its full-year Adjusted EBITDA guidance to $142 million at the midpoint.
Show more
Updated on 11/6/2026
Cadre (CDRE) stock has gained about 5% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q3 2026 Performance Exceeding Expectations. Cadre (CDRE) reported robust financial results for its fiscal third quarter, which ended September 30, 2026. The company's net sales reached $202.9 million, marking a 30% increase year-over-year and surpassing analyst consensus estimates of $190.67 million by $12.3 million. Additionally, Cadre achieved a GAAP diluted earnings per share (EPS) of $0.37, significantly beating the analyst consensus of $0.28 by $0.09. Adjusted EBITDA for the quarter also impressed, coming in at $41.1 million, exceeding estimates of $34.17 million.
2. Uplifted Full-Year 2026 Financial Guidance. Following its strong quarterly performance, Cadre raised its full-year 2026 net sales guidance for the second consecutive quarter to a range of $756 million to $769 million. This revised outlook demonstrates management's increased confidence in sustained demand for its products and services. The company also lifted its full-year Adjusted EBITDA guidance to $142 million at the midpoint.
3. Initiation of a $100 Million Share Repurchase Program. On November 4, 2026, Cadre's Board of Directors authorized a share repurchase program, allowing the company to buy back up to $100 million of its common stock. This strategic move signals management's positive long-term outlook for the company and is often viewed favorably by investors as it can enhance shareholder value.
4. Strategic Acquisitions and Robust Order Backlog. Cadre has continued its growth strategy through acquisitions, including the recent completion of the Robadair Ltd. acquisition for approximately $14.8 million in October 2026, and a small bolt-on acquisition of a key supplier in fiscal Q4 2026. These acquisitions are expected to enhance manufacturing capabilities and contribute to future revenue. The company also highlighted a substantial and visible orders backlog, which provides a strong foundation for future demand.
Show less
Cadre (CDRE) stock has gained about 5% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q3 2026 Performance Exceeding Expectations. Cadre (CDRE) reported robust financial results for its fiscal third quarter, which ended September 30, 2026. The company's net sales reached $202.9 million, marking a 30% increase year-over-year and surpassing analyst consensus estimates of $190.67 million by $12.3 million. Additionally, Cadre achieved a GAAP diluted earnings per share (EPS) of $0.37, significantly beating the analyst consensus of $0.28 by $0.09. Adjusted EBITDA for the quarter also impressed, coming in at $41.1 million, exceeding estimates of $34.17 million.
2. Uplifted Full-Year 2026 Financial Guidance. Following its strong quarterly performance, Cadre raised its full-year 2026 net sales guidance for the second consecutive quarter to a range of $756 million to $769 million. This revised outlook demonstrates management's increased confidence in sustained demand for its products and services. The company also lifted its full-year Adjusted EBITDA guidance to $142 million at the midpoint.
3. Initiation of a $100 Million Share Repurchase Program. On November 4, 2026, Cadre's Board of Directors authorized a share repurchase program, allowing the company to buy back up to $100 million of its common stock. This strategic move signals management's positive long-term outlook for the company and is often viewed favorably by investors as it can enhance shareholder value.
4. Strategic Acquisitions and Robust Order Backlog. Cadre has continued its growth strategy through acquisitions, including the recent completion of the Robadair Ltd. acquisition for approximately $14.8 million in October 2026, and a small bolt-on acquisition of a key supplier in fiscal Q4 2026. These acquisitions are expected to enhance manufacturing capabilities and contribute to future revenue. The company also highlighted a substantial and visible orders backlog, which provides a strong foundation for future demand.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 6.1% change in CDRE stock from 7/31/2026 to 11/6/2026 was primarily driven by a 15.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312026 | 11062026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.73 | 32.60 | 6.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 636 | 733 | 15.3% |
| Net Income Margin (%) | 5.8% | 5.6% | -3.3% |
| P/E Multiple | 35.5 | 34.0 | -4.2% |
| Shares Outstanding (Mil) | 43 | 43 | -0.7% |
| Cumulative Contribution | 6.1% |
Market Drivers
7/31/2026 to 11/6/2026| Return | Correlation | |
|---|---|---|
| CDRE | 6.1% | |
| Market (SPY) | -1.6% | -9.3% |
| Sector (XLI) | -9.5% | 7.6% |
Fundamental Drivers
The 11.0% change in CDRE stock from 4/30/2026 to 11/6/2026 was primarily driven by a 23.1% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11062026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.36 | 32.60 | 11.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 610 | 733 | 20.0% |
| Net Income Margin (%) | 7.2% | 5.6% | -22.4% |
| P/E Multiple | 27.6 | 34.0 | 23.1% |
| Shares Outstanding (Mil) | 42 | 43 | -3.1% |
| Cumulative Contribution | 11.0% |
Market Drivers
4/30/2026 to 11/6/2026| Return | Correlation | |
|---|---|---|
| CDRE | 11.0% | |
| Market (SPY) | 2.6% | 10.3% |
| Sector (XLI) | -6.6% | 24.9% |
Fundamental Drivers
The -22.3% change in CDRE stock from 10/31/2025 to 11/6/2026 was primarily driven by a -24.0% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 11062026 | Change |
|---|---|---|---|
| Stock Price ($) | 41.94 | 32.60 | -22.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 573 | 733 | 28.0% |
| Net Income Margin (%) | 6.7% | 5.6% | -15.7% |
| P/E Multiple | 44.8 | 34.0 | -24.0% |
| Shares Outstanding (Mil) | 41 | 43 | -5.1% |
| Cumulative Contribution | -22.3% |
Market Drivers
10/31/2025 to 11/6/2026| Return | Correlation | |
|---|---|---|
| CDRE | -22.3% | |
| Market (SPY) | 8.7% | 29.7% |
| Sector (XLI) | 5.8% | 40.9% |
Fundamental Drivers
The 20.5% change in CDRE stock from 10/31/2023 to 11/6/2026 was primarily driven by a 56.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11062026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.06 | 32.60 | 20.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 468 | 733 | 56.5% |
| Net Income Margin (%) | 6.3% | 5.6% | -11.1% |
| P/E Multiple | 34.4 | 34.0 | -1.3% |
| Shares Outstanding (Mil) | 38 | 43 | -12.3% |
| Cumulative Contribution | 20.5% |
Market Drivers
10/31/2023 to 11/6/2026| Return | Correlation | |
|---|---|---|
| CDRE | 20.5% | |
| Market (SPY) | 81.9% | 32.4% |
| Sector (XLI) | 72.0% | 40.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CDRE Return | 67% | -20% | 66% | -1% | 28% | -19% | 127% |
| Peers Return | 2% | -14% | 32% | 37% | -16% | -3% | 31% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| CDRE Win Rate | 100% | 50% | 75% | 50% | 50% | 45% | |
| Peers Win Rate | 50% | 42% | 52% | 60% | 47% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| CDRE Max Drawdown | - | -36% | -23% | -24% | -29% | -46% | |
| Peers Max Drawdown | -32% | -36% | -21% | -20% | -36% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSA, GNTX, AXON, LAKE, NPK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)
How Low Can It Go
| Event | CDRE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.7% | -18.8% |
| % Gain to Breakeven | 26.1% | 23.1% |
| Time to Breakeven | 33 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.3% | -6.7% |
| % Gain to Breakeven | 27.1% | 7.1% |
| Time to Breakeven | 131 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.9% | -24.5% |
| % Gain to Breakeven | 36.9% | 32.4% |
| Time to Breakeven | 52 days | 427 days |
In The Past
Cadre's stock fell -20.7% during the 2025 US Tariff Shock. Such a loss loss requires a 26.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | CDRE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.7% | -18.8% |
| % Gain to Breakeven | 26.1% | 23.1% |
| Time to Breakeven | 33 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.3% | -6.7% |
| % Gain to Breakeven | 27.1% | 7.1% |
| Time to Breakeven | 131 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.9% | -24.5% |
| % Gain to Breakeven | 36.9% | 32.4% |
| Time to Breakeven | 52 days | 427 days |
In The Past
Cadre's stock fell -20.7% during the 2025 US Tariff Shock. Such a loss loss requires a 26.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Cadre (CDRE)
Cadre Holdings, Inc. (CDRE) specializes in the manufacturing and distribution of critical safety and survivability equipment designed to protect individuals in hazardous or life-threatening situations. The company operates through two main segments: Products, where it develops and manufactures its own specialized gear, and Distribution, which involves offering a range of third-party products to its customer base.
Cadre's extensive product portfolio encompasses a wide array of protective equipment. Key offerings include various types of body armor under brands like Safariland and Protech Tactical, specialized bomb suits, and advanced tools for explosive ordnance disposal (EOD) technicians such as survival suits, remotely operated vehicles, and blast sensors. Additionally, the company provides duty gear, communications equipment, forensic investigation products, firearms cleaning solutions, and crowd control products. Through its distribution segment, Cadre also supplies third-party items like uniforms, optics, boots, firearms, and ammunition.
The company primarily serves vital public safety and defense markets globally. Its diverse customer base includes first responders such as state and local law enforcement, fire and rescue, emergency medical technicians, and departments of corrections. Cadre is also a key supplier to numerous U.S. federal agencies, including the Departments of Defense, Justice, and Homeland Security, as well as various foreign government agencies, providing essential equipment for personnel operating in dangerous environments.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe Cadre:
The Grainger for government and first responder safety and tactical equipment.
Like a specialized defense contractor, focusing on the personal protective gear and equipment for soldiers, police, and emergency personnel.
AI Analysis | Feedback
- Body Armor: Manufactures concealable, corrections, and tactical armor under various brands for personal protection.
- Bomb Safety Equipment: Provides specialized gear for bomb disposal technicians, including bomb suits, survival suits, remotely operated vehicles, and blast sensors.
- Duty Gear: Offers belts and a range of accessories essential for law enforcement and first responders.
- Law Enforcement & Protective Equipment: Includes communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control items.
- Third-Party Product Distribution: Distributes products from other manufacturers such as uniforms, optics, boots, firearms, and ammunition.
AI Analysis | Feedback
Cadre (CDRE) primarily sells its products and services to governmental agencies and first responder organizations, rather than to individual consumers or other public companies. Its major customers can be categorized as follows:
- State and Local Government Agencies: This includes state and local law enforcement, fire and rescue departments, explosive ordnance disposal technicians, emergency medical technicians, fishing and wildlife enforcement agencies, and departments of corrections.
- U.S. Federal Agencies: This category encompasses various federal departments and agencies such as 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, and U.S. Department of Corrections.
- Foreign Government Agencies: Cadre also serves various government agencies in other countries.
AI Analysis | Feedback
null
AI Analysis | Feedback
Warren B. Kanders, Chief Executive Officer & Chairman of the Board
Warren B. Kanders has served as Cadre Holdings' Chief Executive Officer and a director since April 2012. He also holds the position of Executive Chairman of Clarus Corporation, a NASDAQ-listed company focused on the outdoor and consumer industries, a role he has held since 2002. From January 1996 until its acquisition by BAE Systems plc in July 2007 for $4.5 billion, Mr. Kanders was the Chairman of the Board of Directors, and from April 2003, the Chief Executive Officer, of Armor Holdings, Inc., a manufacturer and supplier of military vehicles, armored vehicles, and safety and survivability products. He received a $300 million payout from the sale of Armor Holdings. In 2012, Mr. Kanders purchased the Safariland Group, Cadre's core brand, back from BAE for $124 million. He established Kanders & Company, Inc., a private investment firm, in 1990. In 1992, he co-founded Benson Eyecare Corp., which was later sold to Essilor International in 1996 for $225 million, with Mr. Kanders realizing an estimated personal gain of $30 million. His 2012 acquisition of Safariland established a "tightly controlled private equity-style structure" for the company.
Brad Williams, President
Brad Williams was appointed Chief Operating Officer in March 2017 and subsequently promoted to President in 2019. Before joining Cadre Holdings, Mr. Williams held various roles of increasing responsibility at IDEX Corporation from June 2010 to March 2017, including President of the Material Processing Technologies Group, President of the Energy & Fuels Midstream Group, and Vice President & General Manager of Toptech Systems. Prior to his tenure at IDEX Corporation, he held positions at Danaher Corporation and Ingersoll-Rand Company.
Blaine Browers, Chief Financial Officer
Blaine Browers was appointed as Cadre Holdings' Chief Financial Officer in May 2018. Before joining the company, Mr. Browers served in various roles of increasing responsibility at IDEX Corporation from September 2010 to April 2018, including Group Vice President Finance & IT for Fire and Safety, Group Vice President Finance & IT for BAND-IT, IDEX Optics & Photonics, and Micropump, as well as Vice President Finance & IT for BAND-IT, and Finance Manager Northeast. Prior to his time at IDEX Corp., Mr. Browers held several positions within General Electric Co.
AI Analysis | Feedback
Here are the key risks to Cadre Holdings, Inc. (CDRE):
-
Dependence on Government Contracts and Public Sector Budgets
A substantial portion of Cadre Holdings' revenue is derived from contracts with U.S. federal, state, and local government agencies, as well as various foreign government bodies. This reliance exposes the company to significant risks associated with fluctuations in government spending, changes in procurement policies, and the potential loss of major, multi-year contracts. Recent financial results have highlighted "timing volatility in large government and law enforcement contracts," leading to "delivery delays" and "lumpy revenue." -
Intense Competition, Technological Disruption, and Product Obsolescence
Cadre operates in a highly specialized and competitive market, facing rivals such as Point Blank Enterprises, Armor Express, Blackhawk, and Avon Protection Systems. The business is vulnerable to rapid technological advancements or new product introductions that could render its existing product certifications and inventories obsolete. Specifically, a "sudden, significant breakthrough in lightweight, high-performance ballistic materials or a new, widely adopted threat round" would necessitate continuous and costly research and development investments to maintain competitiveness and market share. -
Product Liability and Regulatory Compliance Risks
Given the inherently risky nature of products such as body armor and explosive ordnance disposal equipment, Cadre Holdings is exposed to significant product liability and warranty claims. Furthermore, the company operates in a highly regulated industry with stringent government regulations across numerous jurisdictions. Non-compliance with these evolving regulations or changes in legal frameworks could result in substantial penalties, increased operational costs, or restrictions on its ability to conduct business.
AI Analysis | Feedback
null
AI Analysis | Feedback
Addressable Market Sizes for Cadre's Main Products and Services
Cadre Holdings, Inc. (CDRE) operates in several key markets related to safety and survivability equipment for first responders and government agencies. The primary addressable markets for Cadre's main products and services include body armor, explosive ordnance disposal (EOD) equipment, and the broader police and law enforcement equipment market.Body Armor
* The global body armor market was valued at approximately USD 2.60 billion in 2024 and is projected to grow to USD 3.70 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 4.53% during the forecast period. Other estimates place the global market at USD 2,693.4 million in 2023, expected to reach USD 4,007.1 million by 2030 at a CAGR of 5.8%. * In North America, the U.S. body armor market was valued at USD 789 million in 2024 and is projected to reach approximately USD 1,140 million by 2034, growing at a CAGR of 3.74% from 2025 to 2034.Explosive Ordnance Disposal (EOD) Equipment
* The global explosive ordnance disposal equipment market, which includes bomb suits, remotely operated vehicles (ROVs) for bomb safety, and other specialized tools, was valued between USD 5.63 billion and USD 7.82 billion in 2024. This market is projected to reach between USD 7.92 billion and USD 11.05 billion by 2030-2032, with CAGRs ranging from 4.36% to 6.4%. North America leads this market, holding a 42% share.Police and Law Enforcement Equipment
* The global police and law enforcement equipment market, encompassing products like duty gear, communications gear, forensic products, firearms, and ammunition, was valued at USD 11,723.51 million (USD 11.72 billion) in 2025 and is expected to increase to USD 20,288.19 million (USD 20.29 billion) by 2032, growing at a CAGR of 8.2%. Another projection indicates the global market will reach USD 36.1 billion by 2030. * North America represented the largest share of the police and law enforcement equipment market, accounting for 41% in 2023 and a projected 35% share in 2024. * Specifically, the U.S. law enforcement personal protective equipment (PPE) market was estimated at USD 839.4 million in 2021 and is expected to expand at a CAGR of 5.0% from 2022 to 2030.AI Analysis | Feedback
Cadre Holdings, Inc. (CDRE) is anticipated to drive future revenue growth over the next 2-3 years through a combination of strategic acquisitions, substantial contract wins and an increased backlog, organic growth across its core segments, disciplined pricing strategies, and continued international expansion.
Here are 3-5 expected drivers of future revenue growth:
* Strategic Acquisitions: Cadre Holdings has a consistent strategy of disciplined mergers and acquisitions (M&A) to expand its market reach and product offerings. The recent acquisitions, particularly TYR Tactical (closed in early 2026) and CARS Engineering, are expected to be significant contributors to revenue. TYR Tactical alone is projected to contribute approximately $100 million in revenue on a full-year basis in 2026. These acquisitions enhance Cadre's leadership and accelerate growth in specialized safety businesses.
* Increased Backlog and Major Contract Wins: The company has reported a nearly 50% year-over-year increase in its orders backlog, providing strong visibility for future revenue. Notable contract wins include a $50 million IDIQ (Indefinite Delivery, Indefinite Quantity) contract for the Blast Exposure Monitoring System (BEMO) with the U.S. Department of Defense, with shipments scheduled throughout 2026. Additionally, Cadre secured an $86 million Med-Eng blast seat program for General Dynamics. These multi-year contracts reinforce Cadre's position in critical safety markets and ensure long-term revenue streams.
* Organic Growth in Public Safety and Nuclear Segments: Cadre projects 3%-5% organic growth in both its Public Safety and Nuclear businesses for 2026. This growth is underpinned by rising global safety threats and resilient government spending on protection equipment in the law enforcement sector. In the nuclear safety segment, long-term demand is driven by policy and commercial tailwinds across environmental management, national security, and nuclear energy markets.
* Pricing Discipline: Cadre's financial guidance for 2026 incorporates a 1% price increase, net of material inflation. This indicates that strategic pricing adjustments are expected to contribute to overall revenue growth and improved gross margins.
* International Expansion: Acquisitions such as TYR Tactical are instrumental in Cadre's international growth strategy, as 66% of TYR's revenue is derived from international customers. This expands Cadre's global footprint and opens new opportunities in international and federal markets where its existing brands may not have a major foothold.
AI Analysis | Feedback
Share Issuance
- Cadre Holdings, Inc. completed its initial public offering (IPO) in November 2021, issuing 6,900,000 shares of common stock at a price of $13.00 per share, including the full exercise of underwriters' option for additional shares, totaling approximately $89.7 million.
- Diluted earnings per share for fiscal year 2025 reflected earnings growth tempered by share dilution from equity awards.
Outbound Investments
- Cadre completed the acquisition of TYR Tactical, LLC on January 30, 2026, for a total consideration of $175 million, comprising $150 million in cash and $25 million in CDRE stock. This acquisition is expected to be immediately accretive to earnings and adjusted EBITDA margins.
- In April 2025, Cadre acquired multiple nuclear brands from Carr's Group PLC (Carr's Engineering Division) for approximately $91.5 million. This expanded Cadre's nuclear safety vertical, international footprint, and entry into automation, robotics, and nuclear medicine.
- The acquisition of TYR Tactical represents the sixth transaction completed by Cadre since its IPO in 2021, highlighting a disciplined M&A strategy.
Capital Expenditures
- Capital expenditures totaled $7.0 million for the year ended December 31, 2025, an increase from $5.8 million for the year ended December 31, 2024.
- Cadre anticipates capital expenditures to be in the range of $10 million to $14 million for the full year 2026, primarily to support operational improvements and capacity expansion.
Peer Outperformance in Aerospace & Defense
CDRE has outperformed 70% of its 53 Aerospace & Defense peers over 5Y. Among the peers that beat it are HWM, ATRO and AIR. Aerospace & Defense ranks 4th of 23 industries in Industrials by median 5Y return.
Share of Aerospace & Defense constituents that CDRE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
33%
of 70 industry peers · -24.0% return
3Y
27%
of 59 industry peers · 16.9% return
5Y
70%
of 53 industry peers · 127.1% return
Aerospace & Defense peers with revenue growth within 4pp of CDRE's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| CDRE | Cadre | 15.2% | 34.0x | -24.0% | 16.9% | 127.1% | — |
| HWM | Howmet Aerospace | 15.0% | 39.9x | 0.3% | 330.2% | 525.2% | +398pp |
| ATRO | Astronics | 15.0% | 29.7x | 16.4% | 238.3% | 276.0% | +149pp |
| AIR | AAR | 18.6% | 22.4x | 32.8% | 74.0% | 177.3% | +50pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Aerospace & Defense is CDRE's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Marine Transportation | 5 | 31.6% | 32.1% | 105.5% | MATX 153% · KEX 106% |
| Construction & Engineering | 28 | -22.1% | 92.9% | 93.8% | FIX 949% · STRL 830% · AGX 565% |
| Construction Machinery & Heavy Transportation Equipment | 14 | 7.5% | 66.0% | 93.0% | ALSN 256% · WAB 210% · CAT 195% |
| Aerospace & Defense ← | 54 | -0.9% | 55.7% | 55.7% | ATI 891% · FTAI 850% · HWM 525% |
| Trading Companies & Distributors | 19 | 5.3% | 32.0% | 31.6% | DXPE 298% · AIT 187% · URI 180% |
| Industrial Machinery & Supplies & Components | 71 | 0.9% | 49.5% | 28.8% | CRS 795% · MLI 302% · SYM 266% |
| Rail Transportation | 7 | 34.9% | 68.8% | 25.2% | CSX 48% · UNP 36% · NSC 25% |
| Diversified Support Services | 34 | 15.4% | 37.0% | 15.8% | CXW 200% · OPLN 134% · CACI 113% |
| Building Products | 34 | -6.6% | 6.9% | 12.8% | MOD 760% · GFF 339% · TT 132% |
| Cargo Ground Transportation | 16 | 30.0% | 10.9% | 2.2% | XPO 270% · R 245% · ARCB 19% |
| Industrial Conglomerates | 17 | 13.4% | 3.3% | -0.6% | CSW 99% · CSL 70% · DD 67% |
| Office Services & Supplies | 10 | 19.2% | 22.9% | -2.5% | PBI 157% · HNI 37% · MSA 18% |
| Electrical Components & Equipment | 39 | -8.1% | 59.1% | -5.3% | POWL 1454% · VRT 565% · BE 441% |
| Data Processing & Outsourced Services | 6 | -11.7% | 1.7% | -13.8% | EXLS 57% · BR 20% · G -10% |
| Research & Consulting Services | 13 | 0.2% | -15.7% | -24.2% | HURN 210% · FCN 36% · BAH 9% |
| Agricultural & Farm Machinery | 16 | 14.3% | -4.3% | -25.5% | DE 102% · TTC 15% · AGCO 3% |
| Environmental & Facilities Services | 29 | -19.4% | 26.4% | -27.0% | GEO 191% · CLH 168% · RSG 98% |
| Security & Alarm Services | 9 | -45.7% | 29.4% | -27.5% | BCO 65% |
| Passenger Airlines | 11 | 6.4% | 67.5% | -34.4% | LTM 3140% · UAL 114% · DAL 105% |
| Air Freight & Logistics | 12 | -29.4% | -9.4% | -40.2% | FDX 75% · EXPD 56% · CHRW 50% |
| Human Resource & Employment Services | 22 | 23.6% | -9.6% | -42.8% | ADP 48% · FA 24% · PAYX 10% |
| Passenger Ground Transportation | 3 | -19.6% | 37.4% | -58.0% | UBER 45% · CAR -58% · LYFT -68% |
| Airport Services | 4 | -46.5% | -66.9% | -87.0% | JOBY -40% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Is 18.0% Fall In Cadre (CDRE) Stock A Buying Opportunity? | 04/30/2026 | |
| Cadre Earnings Notes | 12/16/2025 | |
| How Low Can Cadre Stock Really Go? | 10/17/2025 | |
| Why Cadre Stock Moved: CDRE Stock Has Gained 114% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S) | 08/08/2025 | |
| CDRE Dip Buy Analysis | 07/10/2025 | |
| Should You Buy Cadre Stock? | 05/16/2025 | |
| Cadre (CDRE) Valuation Ratios Comparison | 05/15/2025 | |
| Cadre (CDRE) Operating Cash Flow Comparison | 02/17/2025 | |
| Cadre (CDRE) Net Income Comparison | 02/15/2025 | |
| Cadre (CDRE) Operating Income Comparison | 02/14/2025 | |
| ARTICLES | ||
| Time To Buy The Dip In Cadre Stock? | 04/30/2026 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 86.63 |
| Mkt Cap | 4.2 |
| Rev LTM | 2,014 |
| Op Inc LTM | 84 |
| FCF LTM | 81 |
| FCF 3Y Avg | 149 |
| CFO LTM | 225 |
| CFO 3Y Avg | 256 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 18.3% |
| Rev Chg 3Y Avg | 15.2% |
| Rev Chg Q | 21.7% |
| QoQ Delta Rev Chg LTM | 5.0% |
| Op Inc Chg LTM | 7.8% |
| Op Inc Chg 3Y Avg | 15.9% |
| Op Mgn LTM | 11.5% |
| Op Mgn 3Y Avg | 11.9% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 12.1% |
| CFO/Rev 3Y Avg | 10.5% |
| FCF/Rev LTM | 10.4% |
| FCF/Rev 3Y Avg | 8.6% |
Price Behavior
Price Behavior
| Market Price | $32.60 | |
| Market Cap ($ Bil) | 1.4 | |
| First Trading Date | 11/04/2021 | |
| Distance from 52W High | -28.5% | |
| 50 Days | 200 Days | |
| DMA Price | $27.82 | $31.70 |
| DMA Trend | down | down |
| Distance from DMA | 17.2% | 2.8% |
| 3M | 1YR | |
| Volatility | 37.3% | 47.7% |
| Downside Capture | 63.60 | 192.61 |
| Upside Capture | 30.35 | 121.28 |
| Correlation (S&P 500) | 11.1% | 35.5% |
CDRE Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.23 | 0.62 | 0.27 | 0.78 | 1.34 | 0.95 |
| Up Beta | 1.83 | 0.98 | 0.64 | -0.29 | 1.05 | 0.83 |
| Down Beta | 1.03 | 0.02 | 0.79 | 1.13 | 0.89 | 0.84 |
| Up Capture | 93% | 91% | 3% | 94% | 149% | 91% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 12 | 19 | 30 | 61 | 120 | 396 |
| Down Capture | -226% | 62% | 11% | 101% | 147% | 105% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 9 | 23 | 33 | 64 | 128 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CDRE | |
|---|---|---|---|---|
| CDRE | -26.9% | 47.7% | -0.51 | - |
| Sector ETF (XLI) | 7.1% | 17.8% | 0.22 | 41.2% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 29.8% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | 13.6% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | -25.0% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | 22.7% |
| Bitcoin (BTCUSD) | -26.9% | 43.6% | -0.60 | 13.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CDRE | |
|---|---|---|---|---|
| CDRE | 17.9% | 45.9% | 0.50 | - |
| Sector ETF (XLI) | 10.9% | 17.7% | 0.45 | 36.6% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 31.5% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 5.8% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | -2.8% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 24.2% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 17.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CDRE | |
|---|---|---|---|---|
| CDRE | 8.6% | 45.9% | 0.50 | - |
| Sector ETF (XLI) | 13.0% | 20.1% | 0.56 | 36.6% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 31.5% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 5.8% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | -2.8% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 24.2% |
| Bitcoin (BTCUSD) | 60.1% | 66.3% | 1.00 | 17.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/7/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2026 | 4.6% | ||
| 8/5/2026 | 12.9% | 8.7% | -3.7% |
| 5/11/2026 | -9.5% | -6.7% | -5.8% |
| 3/10/2026 | -13.5% | -18.9% | -17.9% |
| 11/4/2025 | 6.1% | 2.6% | 0.8% |
| 8/5/2025 | -15.9% | -13.3% | -7.0% |
| 5/6/2025 | 19.6% | 21.6% | 14.7% |
| 3/11/2025 | 5.1% | -3.5% | -9.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 8 |
| # Negative | 8 | 8 | 12 |
| Median Positive | 4.6% | 4.9% | 12.2% |
| Median Negative | -9.0% | -8.7% | -6.0% |
| Max Positive | 19.6% | 21.6% | 23.6% |
| Max Negative | -15.9% | -18.9% | -22.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2026 | 4.6% | ||
| 8/5/2026 | 12.9% | 8.7% | -3.7% |
| 5/11/2026 | -9.5% | -6.7% | -5.8% |
| 3/10/2026 | -13.5% | -18.9% | -17.9% |
| 11/4/2025 | 6.1% | 2.6% | 0.8% |
| 8/5/2025 | -15.9% | -13.3% | -7.0% |
| 5/6/2025 | 19.6% | 21.6% | 14.7% |
| 3/11/2025 | 5.1% | -3.5% | -9.0% |
| 11/6/2024 | -8.5% | -10.3% | -4.4% |
| 8/9/2024 | 0.4% | 2.5% | -0.2% |
| 5/7/2024 | -11.6% | -11.4% | -6.1% |
| 3/5/2024 | 0.3% | 6.0% | -2.9% |
| 11/8/2023 | 7.9% | 13.2% | 13.3% |
| 8/8/2023 | 9.6% | 7.0% | 11.1% |
| 5/9/2023 | 1.7% | 3.2% | -4.5% |
| 3/15/2023 | -3.7% | -5.2% | 13.6% |
| 11/10/2022 | 4.6% | -7.2% | -22.5% |
| 8/11/2022 | -5.0% | 0.5% | 1.0% |
| 5/12/2022 | 1.9% | 3.7% | -17.4% |
| 3/10/2022 | -2.7% | 10.4% | 3.9% |
| 12/2/2021 | 0.0% | 1.8% | 23.6% |
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 8 |
| # Negative | 8 | 8 | 12 |
| Median Positive | 4.6% | 4.9% | 12.2% |
| Median Negative | -9.0% | -8.7% | -6.0% |
| Max Positive | 19.6% | 21.6% | 23.6% |
| Max Negative | -15.9% | -18.9% | -22.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/04/2026 | 10-Q |
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/12/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/15/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/04/2026 | 10-Q |
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/11/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/12/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/15/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/11/2022 | 10-K |
| 09/30/2021 | 12/02/2021 | 10-Q |
| 06/30/2021 | 11/05/2021 | 424B4 |
| 03/31/2021 | 08/03/2021 | S-1/A |
Recent Forward Guidance
Updated 11/5/2026Latest: Q3 2026 Earnings Reported 11/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | Reported | 756.00 Mil | 762.50 Mil | 769.00 Mil | 0.5% | Raised | Guidance: 759.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 140.00 Mil | 142.00 Mil | 144.00 Mil | 0.4% | Raised | Guidance: 141.50 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 11.00 Mil | 12.50 Mil | 14.00 Mil | 4.2% | Raised | Guidance: 12.00 Mil for 2026 | |
Prior: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 749.00 Mil | 759.00 Mil | 769.00 Mil | 1.6% | Raised | Guidance: 747.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 139.00 Mil | 141.50 Mil | 144.00 Mil | 2.2% | Raised | Guidance: 138.50 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 10.00 Mil | 12.00 Mil | 14.00 Mil | 0 | Affirmed | Guidance: 12.00 Mil for 2026 | |
Q1 2026 Earnings Reported 5/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 736.00 Mil | 747.00 Mil | 758.00 Mil | 0 | Affirmed | Guidance: 747.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 136.00 Mil | 138.50 Mil | 141.00 Mil | 0 | Affirmed | Guidance: 138.50 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 10.00 Mil | 12.00 Mil | 14.00 Mil | 0 | Affirmed | Guidance: 12.00 Mil for 2026 | |
Q4 2025 Earnings Reported 3/10/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | Reported | 736.00 Mil | 747.00 Mil | 758.00 Mil | 7370.0% | Higher New | Actual: 10.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 136.00 Mil | 138.50 Mil | 141.00 Mil | 21.5% | Higher New | Actual: 114.00 Mil for 2025 | |
| 2026 Capital Expenditures | Reported | 10.00 Mil | 12.00 Mil | 14.00 Mil | 60.0% | Higher New | Actual: 7.50 Mil for 2025 | |
Insider Activity
Updated 8/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 31.87 | 100,000 | 3,187,045 | 300,125,242 | Form |
| 2 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 33.20 | 65,431 | 2,172,309 | 317,113,386 | Form |
| 3 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 33.65 | 34,569 | 1,163,247 | 320,248,362 | Form |
| 4 | Williams, Brad | PRESIDENT | Direct | Sell | 8192026 | 33.24 | 88,742 | 2,949,898 | 2,163,376 | Form |
| 5 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6232026 | 27.43 | 50,000 | 1,371,500 | 263,795,380 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 31.87 | 100,000 | 3,187,045 | 300,125,242 | Form |
| 2 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 33.20 | 65,431 | 2,172,309 | 317,113,386 | Form |
| 3 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 8262026 | 33.65 | 34,569 | 1,163,247 | 320,248,362 | Form |
| 4 | Williams, Brad | PRESIDENT | Direct | Sell | 8192026 | 33.24 | 88,742 | 2,949,898 | 2,163,376 | Form |
| 5 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6232026 | 27.43 | 50,000 | 1,371,500 | 263,795,380 | Form |
| 6 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6232026 | 27.86 | 25,000 | 696,500 | 269,323,707 | Form |
| 7 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6172026 | 28.68 | 25,000 | 717,000 | 277,967,679 | Form |
| 8 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6172026 | 28.19 | 100,000 | 2,819,000 | 273,923,329 | Form |
| 9 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 6172026 | 30.03 | 100,000 | 3,003,000 | 294,805,681 | Form |
| 10 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 3242026 | 31.93 | 100,000 | 3,193,000 | 316,651,055 | Form |
| 11 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 3242026 | 31.40 | 100,000 | 3,140,000 | 314,535,025 | Form |
| 12 | Browers, Blaine | CHIEF FINANCIAL OFFICER | Direct | Sell | 12162025 | 43.79 | 20,435 | 894,849 | 2,764,988 | Form |
| 13 | Williams, Brad | PRESIDENT | Direct | Sell | 12122025 | 42.99 | 24,000 | 1,031,760 | 2,352,370 | Form |
| 14 | Kanders, Warren B | CEO AND CHAIRMAN | Direct | Sell | 11192025 | 39.00 | 1,257,038 | 49,024,482 | 60,294 | Form |
| 15 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 11192025 | 39.00 | 86,903 | 3,389,217 | 395,042,271 | Form |
| 16 | Williams, Brad | PRESIDENT | Direct | Sell | 11172025 | 43.62 | 27,370 | 1,193,879 | 3,433,723 | Form |
| 17 | Williams, Brad | PRESIDENT | Direct | Sell | 10282025 | 43.00 | 4,132 | 177,676 | 4,561,827 | Form |
| 18 | Williams, Brad | PRESIDENT | Direct | Sell | 10162025 | 40.00 | 4,132 | 165,280 | 4,408,840 | Form |
| 19 | Williams, Brad | PRESIDENT | Direct | Sell | 9252025 | 37.00 | 4,132 | 152,884 | 4,231,061 | Form |
Investor Activity (13F)
Updated Nov 7, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Aerospace & Defense Resources |
| Defense News |
| FlightGlobal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 11/6/2026