CDRE on NYSE
Cadre Holdings, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
42.5%Gross margin3
11.0%Operating margin3
7.2%Net margin3
7.5%Revenue growth, 20253
13.9%Return on equity3
0.92×Debt to equity3
$56.8MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Products brought in 84% of the revenue Cadre Holdings, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Products | $410.8M | $497.6M | $543.7M |
| Distribution Services | $102.4M | $105.4M | $104.9M |
Regions
United States brought in 76% of the revenue Cadre Holdings, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $385.5M | $455.2M | $461.4M |
| Outside the United States | $97.1M | $112.3M | $148.9M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue58¢$350.7M
- Research and development2¢$11.4M
- Selling, general and admin30¢$183.1M
- Income tax3¢$18.2M
- Profit7¢$44.1M
Out of $610.3M in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Capital spending11¢$6.9M
- Dividends paid24¢$15.4M
- Kept or used elsewhere65¢$41.4M
Out of $63.7M of cash from operations.3
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net sales | $610.3M | $567.6M | $482.5M |
| Cost of goods sold | $350.7M | $334.1M | $281.8M |
| Gross profit | $259.6M | $233.5M | $200.7M |
| Selling, general and administrative | $183.1M | $158.3M | $140.5M |
| Restructuring and transaction costs | $7.7M | $6.0M | $2.2M |
| Related party expense | $1.5M | $2.4M | $1.5M |
| Total operating expenses | $192.3M | $166.7M | $144.2M |
| Operating income | $67.4M | $66.8M | $56.5M |
| Interest expense, net | -$12.5M | -$7.8M | -$4.5M |
| Other income (expense), net | $7.5M | -$4.7M | $936.0K |
| Total other expense, net | -$5.0M | -$12.5M | -$3.6M |
| Income before provision for income taxes | $62.3M | $54.2M | $52.9M |
| Provision for income taxes | -$18.2M | -$18.1M | -$14.3M |
| Net income | $44.1M | $36.1M | $38.6M |
| Basic | $1.08 | $0.90 | $1.03 |
| Diluted | $1.02 | $0.90 | $1.02 |
| Basic | 40.9M shares | 39.9M shares | 37.5M shares |
| Diluted | 43.4M shares | 40.3M shares | 37.9M shares |
| Unrealized holding (losses) gains on derivative instruments, net of tax | -$284.0K | $1.5M | $775.0K |
| Reclassification adjustments for gains included in net income, net of tax | -$2.6M | -$3.3M | -$3.2M |
| Total unrealized loss on derivative instruments, net of tax | -$2.9M | -$1.8M | -$2.4M |
| Foreign currency translation adjustments, net of tax | $4.8M | -$269.0K | $929.0K |
| Other comprehensive income (loss) | $1.8M | -$2.0M | -$1.5M |
| Comprehensive income, net of tax | $46.0M | $34.1M | $37.2M |
| Unrealized holding (losses) gains on derivative instruments, income tax expense | $95.0K | $501.0K | $258.0K |
| Reclassification adjustments for gains included in net income, income tax expense | $874.0K | $1.1M | $1.1M |
| Foreign currency translation adjustments, income tax expense | $409.0K | $303.0K | $257.0K |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $122.9M | $124.9M | |
| Restricted cash | $2.4M | ||
| Accounts receivable, net | $110.6M | $93.5M | |
| Inventories | $100.3M | $82.4M | |
| Prepaid expenses | $14.6M | $19.0M | |
| Other current assets | $15.1M | $7.7M | |
| Total current assets | $365.9M | $327.6M | |
| Property and equipment, net | $78.8M | $45.2M | |
| Operating lease assets | $19.8M | $15.5M | |
| Deferred tax assets, net | $4.8M | $4.6M | |
| Intangible assets, net | $115.0M | $107.5M | |
| Goodwill | $181.4M | $148.2M | $81.7M |
| Other assets | $4.4M | $4.2M | |
| Total assets | $770.0M | $652.7M | |
| Accounts payable | $22.3M | $29.6M | |
| Accrued liabilities | $61.1M | $46.4M | |
| Income tax payable | $4.8M | $6.7M | |
| Current portion of long-term debt | $16.3M | $11.4M | |
| Total current liabilities | $104.5M | $94.1M | |
| Long-term debt | $291.0M | $211.8M | |
| Long-term operating lease liabilities | $15.0M | $10.7M | |
| Deferred tax liabilities | $30.1M | $18.8M | |
| Other liabilities | $11.6M | $5.8M | |
| Total liabilities | $452.2M | $341.2M | |
| Common stock ($0.0001 par value, 190,000,000 shares authorized, 42,160,656 and 40,607,988 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively) | $4.0K | $4.0K | |
| Additional paid-in capital | $282.6M | $306.8M | |
| Accumulated other comprehensive income (loss) | $460.0K | -$1.4M | |
| Accumulated earnings | $34.8M | $6.1M | |
| Total shareholders' equity | $317.8M | $311.5M | $197.2M |
| Total liabilities, mezzanine equity and shareholders' equity | $770.0M | $652.7M | |
| Preferred stock, par value | $0.00 | $0.00 | |
| Preferred stock, shares authorized | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued | 0 shares | 0 shares | |
| Preferred stock, shares outstanding | 0 shares | 0 shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 190.0M shares | 190.0M shares | |
| Common stock, shares issued | 42.2M shares | 40.6M shares | |
| Common stock, shares outstanding | 42.2M shares | 40.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $44.1M | $36.1M | $38.6M |
| Depreciation and amortization | $18.6M | $16.4M | $15.7M |
| Amortization of original issue discount and debt issue costs | $1.3M | $1.1M | $479.0K |
| Amortization of inventory step-up | $1.3M | $3.9M | |
| Deferred income taxes | $2.4M | -$2.1M | -$210.0K |
| Stock-based compensation | $12.2M | $8.4M | $9.4M |
| Remeasurement of contingent consideration | $1.9M | $1.2M | |
| (Recoveries from) provision for losses on accounts receivable | -$108.0K | $764.0K | $66.0K |
| Unrealized foreign exchange transaction gain | -$2.4M | $1.9M | -$602.0K |
| Other loss (gain) | $390.0K | $496.0K | -$381.0K |
| Accounts receivable | $8.4M | -$24.9M | $6.6M |
| Inventories | -$3.6M | $10.0M | -$10.2M |
| Prepaid expenses and other assets | -$4.5M | -$5.9M | -$302.0K |
| Accounts payable and other liabilities | -$16.4M | -$15.6M | $14.0M |
| Net cash provided by operating activities | $63.7M | $31.8M | $73.2M |
| Purchase of property and equipment | -$6.9M | -$5.7M | -$6.7M |
| Proceeds from disposition of property and equipment | $77.0K | $55.0K | $207.0K |
| Business acquisitions, net of cash acquired | -$89.6M | -$141.8M | |
| Net cash used in investing activities | -$96.4M | -$147.4M | -$6.5M |
| Proceeds from revolving credit facilities | $5.5M | ||
| Principal payments on revolving credit facilities | -$5.5M | ||
| Proceeds from term loans | $97.5M | $129.4M | |
| Principal payments on term loans | -$13.8M | -$43.3M | -$10.0M |
| Proceeds from insurance premium financing | $3.9M | ||
| Principal payments on insurance premium financing | -$2.2M | -$4.0M | |
| Payments for debt issuance costs | -$3.1M | ||
| Taxes paid in connection with employee stock transactions | -$40.2M | -$5.3M | -$2.7M |
| Proceeds from exercise of stock options | $3.4M | ||
| Proceeds from secondary offering, net of underwriter discounts | $91.8M | ||
| Deferred offering costs | -$683.0K | ||
| Dividends distributed | -$15.4M | -$13.9M | -$12.0M |
| Other | $207.0K | $37.0K | $33.0K |
| Net cash provided by (used in) financing activities | $31.6M | $152.7M | -$24.7M |
| Effect of foreign exchange rates on cash, cash equivalents and restricted cash | $1.5M | $224.0K | $438.0K |
| Change in cash, cash equivalents and restricted cash | $394.0K | $37.2M | $42.4M |
| Cash paid for income taxes, net | $24.9M | $24.2M | $8.7M |
| Cash paid for interest | $17.8M | $14.4M | $10.1M |
| Accruals and accounts payable for capital expenditures | $139.0K | $176.0K | $234.0K |
Recent filings
- Sep 30, 2026SCHEDULE 13D/A
- Aug 26, 20264 OWNERSHIP DOCUMENT
- Aug 25, 2026144
- Aug 24, 2026144
- Aug 19, 20264 OWNERSHIP DOCUMENT
- Aug 17, 2026144
- Aug 7, 20268-K/A
- Aug 7, 2026EFFECT
- Aug 6, 2026SCHEDULE 13G/A
- Aug 5, 20268-K
- Aug 5, 202610-Q
- Aug 5, 2026S-4/A
- Jul 29, 20268-K
- Jun 23, 20264 OWNERSHIP DOCUMENT
- Jun 18, 20264 OWNERSHIP DOCUMENT
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
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