Cardinal Infrastructure Group Inc. (CDNL) stock analysis
Close on Nov 11, 2026Market cap $711.62MP/E –Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Weak6 of 30 checks passed
Cardinal Infrastructure passes 6 of the 30 checks behind our score; 17 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 2/6
- Growth
- 1/6
- Past performance
- 1/6
- Financial health
- 2/6
- Dividend
- 0/6
What stands out
Trading below fair value
The share price of $14.99 is below our fair value estimate of $15.55.
Return on capital over 10%
Return on invested capital was 26.6%, above the 10% that usually covers the cost of capital.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 22.4% of total debt.
Guidance raised
Cardinal Infrastructure raised its full year 2026 Revenue outlook on Aug 11, 2026.
What to watch
Margin of safety under 20%
The price is 3.6% below fair value, less than the 20% cushion we look for.
High debt
Debt is 71.4% of shareholders' equity, above the 40% we consider low.
Interest not well covered
Operating income covers interest expense 2.9 times; we look for at least 5.
Bankruptcy risk in the grey zone
The Altman Z-score is 2.29; above 3 is the safe zone and below 1.8 the distress zone.
Valuation2/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B below the industry
Cardinal Infrastructure's price-to-book of 2.72 is below the Heavy Construction Other Than Building Construction Contractors median of 5.11.
Trading below fair value
The share price of $14.99 is below our fair value estimate of $15.55.
Margin of safety under 20%
The price is 3.6% below fair value, less than the 20% cushion we look for.
Growth1/6
Revenue growth over 3 years
Needs three years of positive revenue.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growth against the industry
Needs revenue for this year and last.
Guidance raised
Cardinal Infrastructure raised its full year 2026 Revenue outlook on Aug 11, 2026.
Gross margin trend
This company does not report gross profit.
Past performance1/6
Return on equity
Needs positive equity and five years of results.
Return on capital over 10%
Return on invested capital was 26.6%, above the 10% that usually covers the cost of capital.
Return on equity below the industry
Cardinal Infrastructure's return on equity of 2.5% is below the Heavy Construction Other Than Building Construction Contractors median of 14.8%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin against its history
Needs five years of revenue and net income.
Net margin below the industry
Cardinal Infrastructure's net margin of 0.9% is below the Heavy Construction Other Than Building Construction Contractors median of 1.6%.
Financial health2/6
High debt
Debt is 71.4% of shareholders' equity, above the 40% we consider low.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 22.4% of total debt.
Interest not well covered
Operating income covers interest expense 2.9 times; we look for at least 5.
Short-term assets cover short-term debts
Current assets are 3.53 times current liabilities.
Bankruptcy risk in the grey zone
The Altman Z-score is 2.29; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Cardinal Infrastructure has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$15.55
The share price is 4% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| EV/EBITDA | 13.9× | – | 13.9× | $11.94 | 78% |
| P/B | 5.1× | – | 5.1× | $28.16 | 22% |
| Earnings powerleft out, too far from the others | 9.9% cost of equity | – | – | $2.46 | – |
| Fair value | $15.55 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Medium risk
- Average value traded per day
- $19.45M
- Value traded per 1% price move
- $3.89M
Downside
High risk
- Typical loss in a bad month
- 50.4%
- Volatility (annualized)
- 100%
- Sharpe ratio, 1 year
- -0.43
- Beta to the S&P 500 (5Y)
- –
Margins
Share of revenue, fiscal years 2023 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +44.7% | – | – | – | |
| Gross profit | +47.2% | – | – | – | |
| Operating income | +12.4% | – | – | – | |
| Net income | +6.2% | – | – | – |
Returns and balance sheet
3 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2023 | FY2023 | FY2025 | Trend |
|---|---|---|---|---|
| Current ratio | – | – | 2.35 | |
| Interest coverage | 7.4× | 7.4× | 5.9× | |
| Capex to revenue | 4.9% | 4.9% | 9.6% |
Cash use needs five years of cash flow figures
Cardinal Infrastructure does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$22.69M
- Cash generatingOperating cash flow above zero$37.90M
- Return on assets improvedROA up on the prior year– → 16.2%
- Earnings backed by cashOperating cash flow above net income$37.90M vs $22.69M
- Less leverageLong-term debt to assets fell26.2% → 28.7%
- Better liquidityCurrent ratio rose1.10 → 2.35
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year20.72% → 21.08%
- More efficientAsset turnover rose– → 3.25
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