Cadre Holdings, Inc.
- Open
- 28.86
- Day high
- 29.28
- Day low
- 28.38
- Prev close
- 28.51
- Volume
- 109K
- Mkt cap
- $1.2B
- P/E (TTM)
- 31.9
- EPS (TTM)
- $0.90
- P/B
- 3.7
- P/S
- 1.9
- Yield
- 1.36%
- Per share
- $0.39
- ▼Insiders net selling -$5.8M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
Cadre Holdings, Inc. (CDRE) is a Industrials company listed on NYSE. The stock is down 10% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Cadre Holdings, Inc. (CDRE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CDRE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $0.09 | $0.15 | +66.7% | $155M | +0.1% |
| Mar 11, 2026 | $0.40 | $0.27 | -32.2% | $167M | +1.7% |
| Nov 4, 2025 | $0.26 | $0.27 | +3.8% | $156M | -14.3% |
| Mar 11, 2025 | $0.48 | $0.32 | -33.3% | $176M | +18.3% |
| Aug 9, 2024 | $0.27 | $0.31 | +14.8% | $144M | +14.3% |
| Mar 5, 2024 | $0.18 | $0.25 | +38.9% | $125M | +2.3% |
| Mar 15, 2023 | $0.21 | $0.17 | -19.0% | $124M | +9.6% |
| Nov 10, 2022 | $0.20 | $0.13 | -35.0% | $112M | +4.1% |
| Aug 11, 2022 | $0.20 | $0.12 | -40.0% | $118M | +6.9% |
| May 12, 2022 | $0.19 | $-0.30 | -257.9% | $104M | +2.2% |
| Mar 10, 2022 | $0.18 | $0.14 | -22.2% | $104M | -0.8% |
| Dec 2, 2021 | $-0.17 | $0.25 | +247.1% | $99M | — |
CDRE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | KANDERS WARREN Bdirector, 10 percent owner, officer: CEO AND CHAIRMAN | Sell | 25,000 | $27.86 |
| Jun 23, 2026 | KANDERS WARREN Bdirector, 10 percent owner, officer: CEO AND CHAIRMAN | Sell | 50,000 | $27.43 |
| Jun 18, 2026 | KANDERS WARREN Bdirector, 10 percent owner, officer: CEO AND CHAIRMAN | Grant | 616,500 | $28.75 |
| Jun 18, 2026 | KANDERS WARREN Bdirector, 10 percent owner, officer: CEO AND CHAIRMAN | Grant | 496,500 | $28.75 |
| Jun 18, 2026 | KANDERS WARREN Bdirector, 10 percent owner, officer: CEO AND CHAIRMAN | Grant | 373,000 | — |
| Jun 18, 2026 | KANDERS WARREN Bdirector, 10 percent owner, officer: CEO AND CHAIRMAN | Grant | 261,000 | — |
| Jun 18, 2026 | Williams Bradofficer: PRESIDENT | Grant | 136,000 | $28.75 |
| Jun 18, 2026 | Williams Bradofficer: PRESIDENT | Grant | 109,500 | $28.75 |
| Jun 18, 2026 | Williams Bradofficer: PRESIDENT | Grant | 82,000 | — |
| Jun 18, 2026 | Williams Bradofficer: PRESIDENT | Grant | 57,500 | — |
| Jun 18, 2026 | Browers Blaineofficer: CHIEF FINANCIAL OFFICER | Grant | 115,000 | $28.75 |
| Jun 18, 2026 | Browers Blaineofficer: CHIEF FINANCIAL OFFICER | Grant | 92,500 | $28.75 |
| Jun 18, 2026 | Browers Blaineofficer: CHIEF FINANCIAL OFFICER | Grant | 69,500 | — |
| Jun 18, 2026 | Browers Blaineofficer: CHIEF FINANCIAL OFFICER | Grant | 48,500 | — |
| Jun 18, 2026 | SOKOLOW NICOLASdirector | Grant | 17,393 | $28.75 |
Source: CDRE SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full CDRE insider & 13F page →Cadre Holdings, Inc. company profile
Overview
Cadre Holdings, Inc. (NASDAQ:CDRE) is a specialized manufacturer and distributor of safety and survivability equipment founded in 1964 and headquartered in Jacksonville, Florida. The company went public in November 2021 and has built its business around providing mission-critical protective equipment to first responders, law enforcement, military personnel, and other professionals who operate in hazardous environments. Through strategic acquisitions and organic growth, Cadre has evolved from its origins into a diversified safety equipment company serving both domestic and international markets, with particular strength in body armor, duty gear, explosive ordnance disposal equipment, and nuclear safety solutions.
Business
Cadre Holdings operates in the specialized safety and survivability equipment industry, manufacturing and distributing protective gear for professionals who face life-threatening situations. The company's core business revolves around creating equipment that literally saves lives in high-risk environments. The company operates through two primary segments: Products and Distribution. The Products segment, which generates the majority of revenue, focuses on manufacturing proprietary safety equipment under well-known brands like Safariland and Protech Tactical. This includes body armor systems (concealable, corrections, and tactical armor), duty gear such as holsters and belts, explosive ordnance disposal (EOD) equipment including bomb suits and remotely operated vehicles, and specialized tools for bomb safety technicians. The Distribution segment complements the manufacturing operations by offering third-party products including uniforms, optics, boots, firearms, and ammunition to the same customer base. This creates a comprehensive one-stop solution for law enforcement and military procurement needs. A significant growth area for Cadre is the nuclear safety vertical, which has expanded through acquisitions like Alpha Safety and the engineering division from Carr's Group. This segment provides specialized protective equipment and engineered solutions for nuclear facilities, addressing growing demand from both commercial nuclear energy expansion and government nuclear programs. The nuclear safety business is expected to grow at 4-6% annually, driven by clean energy initiatives and national security requirements. The company's customer base primarily consists of first responders including state and local law enforcement, fire and rescue departments, explosive ordnance disposal technicians, emergency medical technicians, and corrections departments. Federal customers include the U.S. Department of Defense, Department of Homeland Security, Department of State, and various foreign government agencies. A smaller portion (approximately 8%) serves the consumer market through retail channels.
Competitive moat
Cadre Holdings possesses a moderate but meaningful competitive moat built primarily around brand reputation, specialized expertise, and customer relationships in mission-critical applications. The company's strongest moat lies in its established brands like Safariland, which has decades of proven performance in law enforcement applications where product failure can mean life or death. The nature of Cadre's products creates significant switching costs and customer loyalty. Law enforcement agencies and military units are extremely reluctant to change equipment suppliers when lives depend on product reliability. This creates a "better safe than sorry" purchasing mentality that favors established, proven suppliers over newer entrants offering lower prices. The company's long track record and extensive testing certifications create barriers for competitors. Regulatory and certification requirements provide additional moat strength. Body armor, EOD equipment, and nuclear safety products must meet stringent government and industry standards that require significant time and investment to achieve. These certifications create entry barriers and switching costs for customers who must re-qualify new suppliers. The company's specialized manufacturing expertise in areas like ballistic protection and explosive ordnance disposal represents accumulated knowledge that is difficult to replicate quickly. The nuclear safety vertical, expanded through recent acquisitions, operates in a highly specialized niche with few competitors and high technical barriers to entry. However, Cadre's moat has limitations. The distribution segment faces more commoditized competition with limited differentiation. Technological disruption could potentially threaten traditional product categories, though the conservative nature of the customer base tends to slow adoption of unproven technologies. Large defense contractors like BAE Systems or Raytheon could potentially enter Cadre's markets if they chose to, though they typically focus on larger-scale programs. The company's relatively small size compared to major defense contractors also limits its ability to invest in R&D at the same scale, though this is partially offset by its focus and agility in niche markets. Overall, while not impregnable, Cadre's moat is meaningful and should provide sustainable competitive advantages in its core markets.
Risks & safety
Cadre Holdings demonstrates a solid margin of safety with strong financial fundamentals, though valuation metrics suggest limited upside at current levels. **Financial Strength:** • Strong balance sheet with $133.4 million in cash and short-term investments as of Q1 2025 • Current ratio of 3.55 indicates excellent liquidity position • Debt-to-equity ratio of 0.73 is manageable, with recent refinancing providing $590 million in credit facilities • Positive free cash flow generation ($16.1 million in Q1 2025, $26.1 million for full year 2024) • No immediate solvency concerns given strong cash position and cash flow generation **Valuation Metrics:** • P/E ratio of 32.5 appears elevated for a mature industrial company • EV/EBITDA of 17.4 suggests premium valuation • Price-to-book ratio of 3.79 indicates shares trading well above tangible book value • Graham number of 6.33 suggests significant overvaluation relative to conservative value metrics **Other Considerations:** • Recurring revenue characteristics from government contracts provide stability • Order backlog provides revenue visibility • Recent acquisitions may justify some valuation premium if integration succeeds • Exposure to government budget cycles creates some earnings volatility risk
Recent development
Over the past few years, Cadre Holdings has pursued an aggressive acquisition-driven growth strategy while strengthening its core operations. The company completed several strategic acquisitions including ICOR Technology (EOD robots), Alpha Safety (nuclear safety solutions), Cyalume Technologies (chemical illumination), and most recently the engineering division from Carr's Group in early 2025. These acquisitions have significantly expanded Cadre's addressable market, particularly in the nuclear safety vertical where the company now sees substantial growth opportunities driven by clean energy initiatives, small modular reactor development, and increased government focus on nuclear security. The nuclear market is expected to grow 4-6% annually, providing a higher-growth complement to the company's traditional 3% growth law enforcement and military markets. The company has also focused on operational excellence through implementation of the "Cadre operating model" across acquired businesses, which emphasizes margin improvement, operational efficiency, and integration of best practices. This has contributed to gross margin improvements, with Q1 2025 showing 130 basis points of year-over-year improvement. Product innovation has remained a priority, with recent launches including the Safariland Armor SX HP Level IIIA Ballistic Panel, the Ballast duty-rated holster, and integration capabilities with body cameras from partners like Axon. The company has also developed digital tools like the XPERTFIT 3D body sizing app to enhance customer experience. Cadre has strengthened its international presence, particularly in nuclear markets, and expanded manufacturing footprint to mitigate supply chain risks and potential tariff impacts. The company has also increased its dividend by 9% and refinanced debt facilities to support continued growth and acquisition activity. Recent challenges include cybersecurity incidents in 2024 that temporarily disrupted operations and shifted some revenue between quarters, though management indicates minimal long-term impact. The company has implemented additional cybersecurity measures in response.
CDRE company profile · for informational purposes only — not investment advice.
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