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Cardinal Infrastructure Group Inc., a civil contracting company, provides site development and infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets in the southeastern United States. It offers wet utility installations, such as water, sewer, and stormwater systems, as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. The company was formerly known as Civil Infrastructure Group Inc. and changed its name to Cardinal Infrastructure Group Inc. in September 2025. The company was founded in 2013 and is headquartered in Raleigh, North Carolina.
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 | $456M | $72M | $23M | $-6M | 16.3% | - | 6.2% |
| 2024 | $0M | $53M | $21M | $0M | - | - | - |
| 2023 | $0M | $41M | $0M | $0M | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Revenue | 0 | 0 | 456.05 |
| Cost Of Revenue | 0 | 0 | 359.90 |
| Gross Profit | 0 | 0 | 96.15 |
| Operating Expense | 0 | 29.35 | 55.90 |
| Operating Income | 0 | 35.95 | 40.25 |
| EBITDA | 41.47 | 53.23 | 72.26 |
| EBIT | 0 | 34.48 | 39.89 |
| Pretax Income | 0 | 29.65 | 33.06 |
| Tax Provision | 0 | 1.35 | 1.97 |
| Net Income | 0 | 21.36 | 22.69 |
| Net Income Common Stockholders | 0 | 21.36 | 22.69 |
| Total Expenses | 0 | 279.24 | 415.80 |
| Interest Expense | 0 | 4.83 | 6.83 |
| Selling General And Administration | 0 | 10.69 | 23.53 |
| Normalized EBITDA | 41.11 | 53.24 | 72.10 |
| Normalized Income | 0 | 21.37 | 22.54 |
| Basic EPS | 1.56 | 1.62 | 0 |
| Diluted EPS | 1.56 | 1.62 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0.01 |
| Tax Rate For Calcs | 0 | 0.05 | 0.06 |
| Total Unusual Items | 0 | 0 | 0.16 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0.16 |
| Net Income From Continuing Operation Net Minority Interest | 0 | 21.36 | 22.69 |
| Reconciled Depreciation | 13.18 | 18.75 | 32.37 |
| Reconciled Cost Of Revenue | 199.08 | 249.80 | 359.90 |
| Net Interest Income | 0 | -4.83 | -6.83 |
| Net Income From Continuing And Discontinued Operation | 0 | 21.36 | 22.69 |
| Total Operating Income As Reported | 0 | 35.93 | 40.40 |
| Diluted Average Shares | 13.22 | 13.22 | 0 |
| Basic Average Shares | 13.22 | 13.22 | 0 |
| Diluted NI Availto Com Stockholders | 0 | 21.36 | 22.69 |
| Minority Interests | 0 | -6.94 | -8.41 |
| Net Income Including Noncontrolling Interests | 0 | 28.30 | 31.09 |
| Net Income Continuous Operations | 0 | 28.30 | 31.09 |
| Other Income Expense | 0 | -1.47 | -0.36 |
| Other Non Operating Income Expenses | 0 | -1.46 | -0.52 |
| Special Income Charges | 0 | 0 | 0.16 |
| Gain On Sale Of Ppe | 0 | 0 | 0.16 |
| Net Non Operating Interest Income Expense | 0 | -4.83 | -6.83 |
| Interest Expense Non Operating | 0 | 4.83 | 6.83 |
| Depreciation Amortization Depletion Income Statement | 0 | 18.66 | 32.37 |
| Depreciation And Amortization In Income Statement | 0 | 18.66 | 32.37 |
| Amortization | 0 | 0 | 7.13 |
| Amortization Of Intangibles Income Statement | 0 | 0 | 7.13 |
| Depreciation Income Statement | 0 | 18.66 | 25.25 |
| General And Administrative Expense | 0 | 10.69 | 23.53 |
| Other Gand A | 0 | 10.69 | 23.53 |
| Operating Revenue | 0 | 0 | 456.05 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cardinal Infrastructure Group Inc.this co. | CDNL | $701M | 30.18↓ discount | 11.73 | 16.3% | 10.97 |
| Janus International Group, Inc. | JBI | $711M | 13.71 | 1.26 | 9.4% | 7.12 |
| Transcat, Inc. | TRNS | $695M | 87.59 | 2.34 | 5.1% | 19.97 |
| Hyster-Yale, Inc. | HY | $686M | - | 1.44 | -12.2% | 20.87 |
| Smith & Wesson Brands, Inc. | SWBI |
| $686M |
| 64.21 |
| 1.89 |
| 3.6% |
| 14.41 |
| Sturm, Ruger & Company, Inc. | RGR | $684M | - | 2.41 | -1.5% | 51.26 |
| Latham Group, Inc. | SWIM | $683M | 64.89 | 1.68 | 2.7% | 11.15 |
| Serve Robotics Inc. | SERV | $680M | - | 1.92 | -28.9% | -4.28 |
| Safe Bulkers, Inc. | SB | $675M | 22.00 | 0.81 | 4.6% | 8.44 |
| Peer Median | - | 64.21 | 1.78 | 3.2% | 12.78 | |