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Cadre Holdings, Inc. manufactures and distributes safety equipment and other related products that provides protection to users in hazardous or life-threatening situations in the United States and internationally. It operates through two segments, Product and Distribution. The company offers body armor product, such as concealable, corrections, and tactical armor under the Safariland and Protech Tactical brand names; survival suits, remotely operated vehicles, specialty tools, blast sensors, accessories, and vehicle blast attenuation seats for bomb safety technicians; bomb suits; duty gear, including belts and accessories; and other protective equipment comprising communications gear, forensic and investigation products, firearms cleaning solutions, and crowd control products. It also provides third-party products, such as uniforms, optics, boots, firearms, and ammunition. In addition, the company designs, manufactures and services equipment, vessels, precision components and remote handling systems for the nuclear, defence, and oil and gas industries. It serves first responders, such as state and local law enforcement, fire and rescue, explosive ordnance disposal technicians, emergency medical technicians, fishing, and wildlife enforcement and departments of corrections, as well as federal agencies, including the U.S. Department of State, U.S. Department of Defense, U.S. Department of Interior, U.S. Department of Justice, U.S. Department of Homeland Security, U.S. Department of Corrections, the Department of Energy, and various foreign government agencies. The company sells its products through its direct sales force, distribution channels and distribution partners/agents, online stores, and third-party resellers. Cadre Holdings, Inc. was founded in 1964 and is headquartered in Jacksonville, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $610M | $93M | $44M | $57M | 13.9% | 7.5% | 22.2% |
| 2024 | $568M | $78M | $36M | $26M | 11.6% | 17.6% | -6.5% |
| 2023 | $483M | $73M | $39M | $66M | 19.6% | 5.4% | 563.9% |
| 2022 | $458M | $31M | $6M | $42M | 3.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 457.84 | 482.53 | 567.56 | 610.31 |
| Cost Of Revenue | 282.16 | 281.81 | 334.08 | 350.68 |
| Gross Profit | 175.68 | 200.73 | 233.48 | 259.63 |
| Operating Expense | 154.61 | 142.01 | 160.71 | 184.58 |
| Operating Income | 21.07 | 58.71 | 72.77 | 75.05 |
| EBITDA | 31.23 | 73.19 | 78.46 | 93.44 |
| EBIT | 15.58 | 57.45 | 62.04 | 74.81 |
| Pretax Income | 9.37 | 52.92 | 54.22 | 62.33 |
| Tax Provision | 3.55 | 14.28 | 18.09 | 18.19 |
| Net Income | 5.82 | 38.64 | 36.13 | 44.14 |
| Net Income Common Stockholders | 5.82 | 38.64 | 36.13 | 44.14 |
| Total Expenses | 436.77 | 423.82 | 494.79 | 535.26 |
| Interest Expense | 6.21 | 4.53 | 7.82 | 12.48 |
| Selling General And Administration | 153.13 | 140.52 | 158.32 | 183.13 |
| Normalized EBITDA | 35.59 | 75.38 | 84.47 | 101.14 |
| Normalized Income | 8.52 | 40.24 | 40.14 | 49.59 |
| Basic EPS | 0.16 | 1.03 | 0.90 | 0 |
| Diluted EPS | 0.16 | 1.02 | 0.90 | 0 |
| Tax Effect Of Unusual Items | -1.65 | -0.59 | -2 | -2.25 |
| Tax Rate For Calcs | 0.38 | 0.27 | 0.33 | 0.29 |
| Total Unusual Items | -4.36 | -2.19 | -6.01 | -7.70 |
| Total Unusual Items Excluding Goodwill | -4.36 | -2.19 | -6.01 | -7.70 |
| Net Income From Continuing Operation Net Minority Interest | 5.82 | 38.64 | 36.13 | 44.14 |
| Reconciled Depreciation | 15.65 | 15.74 | 16.42 | 18.63 |
| Reconciled Cost Of Revenue | 282.16 | 281.81 | 334.08 | 350.68 |
| Net Interest Income | -6.21 | -4.53 | -7.82 | -12.48 |
| Net Income From Continuing And Discontinued Operation | 5.82 | 38.64 | 36.13 | 44.14 |
| Total Operating Income As Reported | 16.72 | 56.52 | 66.76 | 67.35 |
| Diluted Average Shares | 36.12 | 37.92 | 40.33 | 0 |
| Basic Average Shares | 36.11 | 37.53 | 39.95 | 0 |
| Diluted NI Availto Com Stockholders | 5.82 | 38.64 | 36.13 | 44.14 |
| Net Income Including Noncontrolling Interests | 5.82 | 38.64 | 36.13 | 44.14 |
| Net Income Continuous Operations | 5.82 | 38.64 | 36.13 | 44.14 |
| Other Income Expense | -5.49 | -1.26 | -10.73 | -0.24 |
| Other Non Operating Income Expenses | -1.14 | 0.94 | -4.72 | 7.46 |
| Special Income Charges | -4.36 | -2.19 | -6.01 | -7.70 |
| Other Special Charges | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 4.36 | 2.19 | 6.01 | 7.70 |
| Net Non Operating Interest Income Expense | -6.21 | -4.53 | -7.82 | -12.48 |
| Interest Expense Non Operating | 6.21 | 4.53 | 7.82 | 12.48 |
| Other Operating Expenses | 1.48 | 1.50 | 2.39 | 1.45 |
| Operating Revenue | 457.84 | 482.53 | 567.56 | 610.31 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cadre Holdings, Inc.this co. | CDRE | $1.2B | 26.84↓ discount | 3.63 | 13.9% | 14.36 |
| Global Industrial Company | GIC | $1.2B | 17.62 | 3.97 | 23.0% | 12.16 |
| Distribution Solutions Group, Inc. | DSGR | $1.2B | 149.72 | 1.92 | 1.3% | 12.46 |
| ICF International, Inc. | ICFI | $1.2B | 13.85 | 1.22 | 8.9% | 8.94 |
| Marten Transport, Ltd. | MRTN | $1.2B |
| 69.22 |
| 1.57 |
| 2.3% |
| 10.02 |
| Lindsay Corporation | LNN | $1.2B | 15.37 | 2.14 | 13.9% | 8.73 |
| NANO Nuclear Energy Inc. | NNE | $1.2B | - | 1.89 | -18.0% | -11.07 |
| BrightView Holdings, Inc. | BV | $1.1B | 168.57 | 0.89 | 3.1% | 7.46 |
| Resolute Holdings Management, Inc. | RHLD | $1.1B | - | 172.36 | -7.6% | 7.81 |
| Peer Median | - | 43.42 | 1.90 | 2.7% | 8.84 | |