Cadre (CDRE)
Market Price (5/6/2026): $29.86 | Market Cap: $1.2 BilSector: Industrials | Industry: Aerospace & Defense
Cadre (CDRE)
Market Price (5/6/2026): $29.86Market Cap: $1.2 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 10% 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 -52%, 3Y Excs Rtn is -27% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -5.0% 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 10% |
| 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 -52%, 3Y Excs Rtn is -27% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -5.0% |
| 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
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Cadre (CDRE) stock has lost about 25% since 1/31/2026 because of the following key factors:
1. Cadre Holdings reported disappointing Q4 2025 financial results on March 10, 2026, missing both earnings per share (EPS) and revenue estimates. The company posted an EPS of $0.27, which was $0.20 below the consensus estimate of $0.47. Quarterly revenue reached $167.22 million, falling short of analyst expectations of $182.94 million by $15.72 million and representing a 4.9% year-over-year decline.
2. Following the Q4 2025 earnings miss, at least one analyst firm reduced its price target for Cadre Holdings. On March 15, Jefferies lowered its price target on CDRE to $45 from $55, directly citing the earnings shortfall. Furthermore, another analyst reiterated a "Sell" rating for Cadre Holdings on February 23, 2026, with a price target of $26. The average analyst price target for CDRE has also decreased from $47.20 in the past three months to $43.00 based on more recent ratings.
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1. Cadre Holdings reported disappointing Q4 2025 financial results on March 10, 2026, missing both earnings per share (EPS) and revenue estimates. The company posted an EPS of $0.27, which was $0.20 below the consensus estimate of $0.47. Quarterly revenue reached $167.22 million, falling short of analyst expectations of $182.94 million by $15.72 million and representing a 4.9% year-over-year decline.
2. Following the Q4 2025 earnings miss, at least one analyst firm reduced its price target for Cadre Holdings. On March 15, Jefferies lowered its price target on CDRE to $45 from $55, directly citing the earnings shortfall. Furthermore, another analyst reiterated a "Sell" rating for Cadre Holdings on February 23, 2026, with a price target of $26. The average analyst price target for CDRE has also decreased from $47.20 in the past three months to $43.00 based on more recent ratings.
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Stock Movement Drivers
Fundamental Drivers
The -25.1% change in CDRE stock from 1/31/2026 to 5/5/2026 was primarily driven by a -21.4% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5052026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.88 | 29.85 | -25.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 619 | 610 | -1.4% |
| Net Income Margin (%) | 7.3% | 7.2% | -1.3% |
| P/E Multiple | 35.7 | 28.1 | -21.4% |
| Shares Outstanding (Mil) | 41 | 42 | -2.1% |
| Cumulative Contribution | -25.1% |
Market Drivers
1/31/2026 to 5/5/2026| Return | Correlation | |
|---|---|---|
| CDRE | -25.1% | |
| Market (SPY) | 3.6% | 54.0% |
| Sector (XLI) | 4.5% | 63.5% |
Fundamental Drivers
The -29.3% change in CDRE stock from 10/31/2025 to 5/5/2026 was primarily driven by a -37.7% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5052026 | Change |
|---|---|---|---|
| Stock Price ($) | 42.21 | 29.85 | -29.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 573 | 610 | 6.6% |
| Net Income Margin (%) | 6.7% | 7.2% | 8.7% |
| P/E Multiple | 45.1 | 28.1 | -37.7% |
| Shares Outstanding (Mil) | 41 | 42 | -2.1% |
| Cumulative Contribution | -29.3% |
Market Drivers
10/31/2025 to 5/5/2026| Return | Correlation | |
|---|---|---|
| CDRE | -29.3% | |
| Market (SPY) | 5.5% | 52.5% |
| Sector (XLI) | 11.9% | 59.2% |
Fundamental Drivers
The 3.9% change in CDRE stock from 4/30/2025 to 5/5/2026 was primarily driven by a 13.6% change in the company's Net Income Margin (%).| (LTM values as of) | 4302025 | 5052026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.74 | 29.85 | 3.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 568 | 610 | 7.5% |
| Net Income Margin (%) | 6.4% | 7.2% | 13.6% |
| P/E Multiple | 32.3 | 28.1 | -13.1% |
| Shares Outstanding (Mil) | 41 | 42 | -2.2% |
| Cumulative Contribution | 3.9% |
Market Drivers
4/30/2025 to 5/5/2026| Return | Correlation | |
|---|---|---|
| CDRE | 3.9% | |
| Market (SPY) | 30.4% | 38.1% |
| Sector (XLI) | 33.2% | 49.6% |
Fundamental Drivers
The 47.0% change in CDRE stock from 4/30/2023 to 5/5/2026 was primarily driven by a 468.9% change in the company's Net Income Margin (%).| (LTM values as of) | 4302023 | 5052026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.30 | 29.85 | 47.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 458 | 610 | 33.3% |
| Net Income Margin (%) | 1.3% | 7.2% | 468.9% |
| P/E Multiple | 130.3 | 28.1 | -78.4% |
| Shares Outstanding (Mil) | 37 | 42 | -10.1% |
| Cumulative Contribution | 47.0% |
Market Drivers
4/30/2023 to 5/5/2026| Return | Correlation | |
|---|---|---|
| CDRE | 47.0% | |
| Market (SPY) | 78.7% | 35.0% |
| Sector (XLI) | 80.3% | 43.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CDRE Return | 67% | -20% | 66% | -1% | 28% | -28% | 103% |
| Peers Return | 2% | -14% | 32% | 37% | -16% | 1% | 36% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 5% | 92% |
Monthly Win Rates [3] | |||||||
| CDRE Win Rate | 100% | 50% | 75% | 50% | 50% | 20% | |
| Peers Win Rate | 50% | 42% | 52% | 60% | 47% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 40% | |
Max Drawdowns [4] | |||||||
| CDRE Max Drawdown | 0% | -28% | -8% | -9% | -13% | -33% | |
| Peers Max Drawdown | -11% | -35% | -7% | -9% | -30% | -13% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[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 5/5/2026 (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
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Asset Allocation
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| 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. manufactures and distributes safety and survivability equipment 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 primarily provides body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brands; 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 and law enforcement 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, and various foreign government agencies. The company was founded in 1964 and is headquartered in Jacksonville, Florida.
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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.
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- 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.
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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.
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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.
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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.
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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.
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 |
Trade Ideas
Select ideas related to CDRE.
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| 04172026 | RSG | Republic Services | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.8% | 0.8% | -1.1% |
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| 04102026 | UHAL | U-Haul | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -1.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 85.22 |
| Mkt Cap | 3.1 |
| Rev LTM | 1,243 |
| Op Inc LTM | 59 |
| FCF LTM | 66 |
| FCF 3Y Avg | 114 |
| CFO LTM | 138 |
| CFO 3Y Avg | 154 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.4% |
| Rev Chg 3Y Avg | 13.4% |
| Rev Chg Q | 10.6% |
| QoQ Delta Rev Chg LTM | 2.4% |
| Op Inc Chg LTM | -3.5% |
| Op Inc Chg 3Y Avg | 12.1% |
| Op Mgn LTM | 10.4% |
| Op Mgn 3Y Avg | 11.3% |
| QoQ Delta Op Mgn LTM | -1.2% |
| CFO/Rev LTM | 9.0% |
| CFO/Rev 3Y Avg | 11.8% |
| FCF/Rev LTM | 6.0% |
| FCF/Rev 3Y Avg | 9.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.1 |
| P/S | 2.0 |
| P/Op Inc | 13.3 |
| P/EBIT | 16.6 |
| P/E | 25.9 |
| P/CFO | 13.2 |
| Total Yield | 4.1% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 1.8% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.8% |
| 3M Rtn | -5.9% |
| 6M Rtn | -14.6% |
| 12M Rtn | 4.8% |
| 3Y Rtn | 38.8% |
| 1M Excs Rtn | -8.6% |
| 3M Excs Rtn | -10.8% |
| 6M Excs Rtn | -21.4% |
| 12M Excs Rtn | -22.7% |
| 3Y Excs Rtn | -33.2% |
Price Behavior
Price Behavior
| Market Price | $29.85 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 11/04/2021 | |
| Distance from 52W High | -35.0% | |
| 50 Days | 200 Days | |
| DMA Price | $33.91 | $37.19 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -12.0% | -19.7% |
| 3M | 1YR | |
| Volatility | 57.3% | 48.4% |
| Downside Capture | 1.99 | 0.99 |
| Upside Capture | 138.70 | 135.38 |
| Correlation (SPY) | 48.8% | 36.9% |
CDRE Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.41 | 2.22 | 1.90 | 1.73 | 1.44 | 0.90 |
| Up Beta | 2.65 | 2.18 | 1.89 | 1.83 | 1.33 | 0.93 |
| Down Beta | 1.70 | 0.12 | 0.76 | 0.68 | 1.11 | 0.83 |
| Up Capture | 74% | 121% | 151% | 161% | 159% | 69% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 13 | 21 | 33 | 58 | 131 | 405 |
| Down Capture | 746% | 363% | 254% | 202% | 151% | 98% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 9 | 22 | 31 | 65 | 119 | 341 |
[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 | 1.5% | 48.3% | 0.19 | - |
| Sector ETF (XLI) | 30.0% | 15.4% | 1.50 | 49.7% |
| Equity (SPY) | 27.8% | 12.5% | 1.73 | 38.1% |
| Gold (GLD) | 40.6% | 27.2% | 1.23 | 11.3% |
| Commodities (DBC) | 50.1% | 18.0% | 2.16 | -19.2% |
| Real Estate (VNQ) | 11.0% | 13.4% | 0.53 | 33.4% |
| Bitcoin (BTCUSD) | -17.3% | 42.2% | -0.34 | 19.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CDRE | |
|---|---|---|---|---|
| CDRE | 15.6% | 45.6% | 0.50 | - |
| Sector ETF (XLI) | 12.8% | 17.4% | 0.58 | 38.1% |
| Equity (SPY) | 12.8% | 17.1% | 0.59 | 33.6% |
| Gold (GLD) | 20.2% | 17.9% | 0.92 | 5.5% |
| Commodities (DBC) | 14.0% | 19.1% | 0.60 | -0.5% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.09 | 25.6% |
| Bitcoin (BTCUSD) | 7.9% | 56.2% | 0.35 | 18.6% |
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 | 7.5% | 45.6% | 0.50 | - |
| Sector ETF (XLI) | 13.8% | 19.9% | 0.61 | 38.1% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 33.6% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 5.5% |
| Commodities (DBC) | 9.6% | 17.7% | 0.45 | -0.5% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 25.6% |
| Bitcoin (BTCUSD) | 67.4% | 66.9% | 1.06 | 18.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 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% |
| 3/11/2025 | 5.1% | -3.6% | -9.0% |
| 11/6/2024 | -8.5% | -10.3% | -4.4% |
| 8/9/2024 | 0.4% | 2.5% | -0.2% |
| 3/5/2024 | 0.3% | 6.0% | -2.9% |
| 11/8/2023 | 7.9% | 13.2% | 13.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 8 | 7 |
| # Negative | 6 | 6 | 7 |
| Median Positive | 4.9% | 4.3% | 11.1% |
| Median Negative | -6.7% | -8.7% | -7.0% |
| Max Positive | 9.6% | 13.2% | 23.6% |
| Max Negative | -15.9% | -18.9% | -22.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 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 |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 3/10/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 736.00 Mil | 747.00 Mil | 758.00 Mil | 7370.0% | Raised | Guidance: 10.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 136.00 Mil | 138.50 Mil | 141.00 Mil | 21.5% | Higher New | Actual: 114.00 Mil for 2025 | |
| 2026 Capital Expenditures | 10.00 Mil | 12.00 Mil | 14.00 Mil | 60.0% | Higher New | Actual: 7.50 Mil for 2025 | |
Prior: Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | 624.00 Mil | 627.00 Mil | 630.00 Mil | 0 | Affirmed | Guidance: 627.00 Mil for 2025 | |
| 2025 Adjusted EBITDA | 112.00 Mil | 114.00 Mil | 116.00 Mil | 0 | Affirmed | Guidance: 114.00 Mil for 2025 | |
| 2025 Capital Expenditures | 7.00 Mil | 7.50 Mil | 8.00 Mil | 0 | Affirmed | Guidance: 7.50 Mil for 2025 | |
| 2026 Revenue | 10.00 Mil | ||||||
Insider Activity
Expand for More| # | 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 | 3242026 | 31.93 | 100,000 | 3,193,000 | 316,651,055 | Form |
| 2 | Kanders, Warren B | CEO AND CHAIRMAN | Kanders SAF, LLC | Sell | 3242026 | 31.40 | 100,000 | 3,140,000 | 314,535,025 | Form |
| 3 | Browers, Blaine | CHIEF FINANCIAL OFFICER | Direct | Sell | 12162025 | 43.79 | 20,435 | 894,849 | 2,764,988 | Form |
| 4 | Williams, Brad | PRESIDENT | Direct | Sell | 12122025 | 42.99 | 24,000 | 1,031,760 | 2,352,370 | Form |
| 5 | Kanders, Warren B | CEO AND CHAIRMAN | Direct | Sell | 11192025 | 39.00 | 1,257,038 | 49,024,482 | 60,294 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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