Cardinal Infrastructure Group Inc. (CDNL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CDNL SEC filings page.
Cardinal Infrastructure Group Inc. (CDNL) reported $456.0M in revenue for fiscal year 2025, up 44.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cardinal’s expansion is increasingly capital-intensive: revenue scales up, but margins compress and reinvestment overtakes internally generated cash.
From FY2024 to FY2025, revenue climbed from$315M to$456M , yet the operating margin narrowed from11.4% to8.9% ; growth therefore brought less operating profit per sales dollar. At the same time, free cash flow turned negative at-$5.9M even as net income reached$22.7M , because capital expenditures of$43.8M exceeded operating cash flow of$37.9M .
The balance sheet expanded faster than earnings: assets rose from
Liabilities increased from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Cardinal Infrastructure Group Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cardinal Infrastructure Group Inc. has an operating margin of 8.9%, meaning the company retains $9 of operating profit per $100 of revenue. This strong profitability earns a score of 73/100, reflecting efficient cost management and pricing power. This is down from 11.4% the prior year.
Cardinal Infrastructure Group Inc.'s revenue surged 44.7% year-over-year to $456.0M, reflecting rapid business expansion. This strong growth earns a score of 92/100.
Cardinal Infrastructure Group Inc. has elevated debt relative to equity (D/E of 5.75), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 10/100, reflecting increased financial risk.
With a current ratio of 2.35, Cardinal Infrastructure Group Inc. holds $2.35 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 67/100.
While Cardinal Infrastructure Group Inc. generated $37.9M in operating cash flow, capex of $43.8M consumed most of it, leaving -$5.9M in free cash flow. This results in a low score of 37/100, reflecting heavy capital investment rather than weak cash generation.
Cardinal Infrastructure Group Inc. earns a strong 38.8% return on equity (ROE), meaning it generates $39 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 82/100. This is down from 91.5% the prior year.
Cardinal Infrastructure Group Inc. scores 3.17, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Cardinal Infrastructure Group Inc. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Cardinal Infrastructure Group Inc. generates $1.67 in operating cash flow ($37.9M OCF vs $22.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Cardinal Infrastructure Group Inc. earns $5.92 in operating income for every $1 of interest expense ($40.4M vs $6.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Cardinal Infrastructure Group Inc. generated $226.9M in revenue in Q2 2026. This represents an increase of 113.9% from the same quarter a year earlier. Against the prior quarter it is up 35.5%.
Cardinal Infrastructure Group Inc.'s EBITDA was $27.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 36.5% from the same quarter a year earlier. Against the prior quarter it is up 13.9%.
Cardinal Infrastructure Group Inc. reported $4.7M in net income in Q2 2026. This represents a decrease of 34.8% from the same quarter a year earlier. Against the prior quarter it is up 36.8%.
Cardinal Infrastructure Group Inc. earned $0.26 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 13.0%.
Cash & Balance Sheet
Cardinal Infrastructure Group Inc. recorded an outflow of $12.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 49.5% from the same quarter a year earlier. Against the prior quarter it is down 1247420.4%.
Cardinal Infrastructure Group Inc. held $339.1M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Cardinal Infrastructure Group Inc.'s gross margin was 15.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 5.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.5 percentage points.
Cardinal Infrastructure Group Inc.'s operating margin was 6.8% in Q2 2026, reflecting core business profitability. This is down 4.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.0 percentage points.
Cardinal Infrastructure Group Inc.'s net profit margin was 2.1% in Q2 2026, showing the share of revenue converted to profit. This is down 4.7 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
Cardinal Infrastructure Group Inc.'s ROE was 1.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 16.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Capital Allocation
Cardinal Infrastructure Group Inc. invested $24.7M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 101.4% from the same quarter a year earlier. Against the prior quarter it is up 164.7%.
Not reported for Q2 2026.
Not reported for Q2 2026.
CDNL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|
| Revenue | $226.9M+113.9% | $167.5M+104.8% | N/A | $106.1M | $81.8M | N/A |
| Cost of Revenue | $190.9M+128.6% | $133.3M+104.2% | N/A | $83.5M | $65.3M | N/A |
| Gross Profit | $36.0M+59.5% | $34.2M+106.9% | N/A | $22.6M | $16.5M | N/A |
| SG&A Expenses | $9.0M+204.3% | $10.1M+377.1% | N/A | $3.0M | $2.1M | N/A |
| Operating Income | $15.5M+31.8% | $14.8M+86.9% | N/A | $11.7M | $7.9M | N/A |
| EBITDA | $27.9M+36.5% | $24.5M+60.8% | N/A | $20.5M | $15.3M | N/A |
| Interest Expense | $3.5M+119.2% | $2.2M+118.8% | N/A | $1.6M | $1.0M | N/A |
| Income Tax | -$1.0M-241.6% | $1.1M | N/A | $714K | $0 | N/A |
| Net Income | $4.7M-34.8% | $3.4M-37.6% | N/A | $7.2M | $5.5M | N/A |
| EPS (Basic) | $0.30 | $0.23 | N/A | N/A | N/A | N/A |
| EPS (Diluted) | $0.26 | $0.23 | N/A | N/A | N/A | N/A |
| Diluted Shares (Avg) | 43M | 15M | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
CDNL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|
| Total Assets | $1.0B | $657.3M | $394.6M+181.2% | N/A | N/A | $140.3M |
| Current Assets | $555.1M | $228.1M | $215.7M+178.7% | N/A | N/A | $77.4M |
| Cash & Equivalents | $339.1M | $44.0M | $97.1M+364.4% | N/A | N/A | $20.9M |
| Short-Term Investments | $0 | $0 | $0 | N/A | N/A | $0 |
| Accounts Receivable | $114.4M | $96.6M | $61.3M+60.0% | N/A | N/A | $38.3M |
| Long-Term Investments | $0 | $0 | $0 | N/A | N/A | $0 |
| Goodwill | $133.2M | $128.6M | $23.5M+233.4% | N/A | N/A | $7.1M |
| Total Liabilities | $769.4M | $395.3M | $336.1M+187.4% | N/A | N/A | $117.0M |
| Current Liabilities | $154.5M | $131.9M | $91.6M+29.9% | N/A | N/A | $70.5M |
| Non-Current Liabilities | $614.9M | $263.4M | $244.5M+426.7% | N/A | N/A | $46.4M |
| Total Equity | $245.1M+541.7% | $262.0M+773.4% | $58.5M+150.3% | $38.2M | $30.0M | $23.4M |
| Retained Earnings | $9.0M | $4.3M | $864K | N/A | N/A | $0 |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
CDNL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $12.7M+199.8% | $9.3M-23.0% | N/A | $4.2M | $12.1M | N/A |
| Depreciation & Amortization | $12.5M+42.9% | $9.8M+32.7% | N/A | $8.7M | $7.3M | N/A |
| Stock-Based Compensation | N/A | $192K | N/A | N/A | $0 | N/A |
| Capital Expenditures | $24.7M+101.4% | $9.3M-10.2% | N/A | $12.2M | $10.4M | N/A |
| Free Cash Flow | -$12.0M-49.5% | -$961-100.1% | N/A | -$8.0M | $1.7M | N/A |
| Investing Cash Flow | -$32.3M-85.6% | -$134.8M-456.5% | N/A | -$17.4M | -$24.2M | N/A |
| Financing Cash Flow | $314.7M+3191.3% | $72.3M+416.8% | N/A | $9.6M | $14.0M | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CDNL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|
| Gross Margin | 15.9%-5.4pp | 20.4%+0.2pp | N/A | 21.3% | 20.2% | N/A |
| Operating Margin | 6.8%-4.3pp | 8.8%-0.8pp | N/A | 11.1% | 9.7% | N/A |
| Net Margin | 2.1%-4.7pp | 2.0%-4.7pp | N/A | 6.8% | 6.7% | N/A |
| Return on Equity | 1.9%-16.9pp | 1.3%-17.0pp | N/A | 18.8% | 18.3% | N/A |
| Return on Assets | 0.5% | 0.5% | N/A | N/A | N/A | N/A |
| Current Ratio | 3.59 | 1.73 | 2.35+1.3x | N/A | N/A | 1.10 |
| Debt-to-Equity | 3.14 | 1.51 | 5.75+0.7x | N/A | N/A | 5.01 |
| Asset Turnover | 0.22 | 0.25 | N/A | N/A | N/A | N/A |
| FCF Margin | -5.3%+2.3pp | 0.0%-2.1pp | N/A | -7.6% | 2.1% | N/A |
Where Cardinal Infrastructure Group Inc. Ranks
Frequently Asked Questions
What is Cardinal Infrastructure Group Inc.'s annual revenue?
Cardinal Infrastructure Group Inc. (CDNL) reported $456.0M in total revenue for fiscal year 2025. This represents a 44.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cardinal Infrastructure Group Inc.'s revenue growing?
Cardinal Infrastructure Group Inc. (CDNL) revenue grew by 44.7% year-over-year, from $315.2M to $456.0M in fiscal year 2025.
Is Cardinal Infrastructure Group Inc. profitable?
Yes, Cardinal Infrastructure Group Inc. (CDNL) reported a net income of $22.7M in fiscal year 2025, with a net profit margin of 5.0%.
What is Cardinal Infrastructure Group Inc.'s EBITDA?
Cardinal Infrastructure Group Inc. (CDNL) had EBITDA of $76.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cardinal Infrastructure Group Inc.'s gross margin?
Cardinal Infrastructure Group Inc. (CDNL) had a gross margin of 21.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cardinal Infrastructure Group Inc.'s operating margin?
Cardinal Infrastructure Group Inc. (CDNL) had an operating margin of 8.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cardinal Infrastructure Group Inc.'s net profit margin?
Cardinal Infrastructure Group Inc. (CDNL) had a net profit margin of 5.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cardinal Infrastructure Group Inc.'s return on equity (ROE)?
Cardinal Infrastructure Group Inc. (CDNL) has a return on equity of 38.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cardinal Infrastructure Group Inc.'s free cash flow?
Cardinal Infrastructure Group Inc. (CDNL) recorded an outflow of $5.9M in free cash flow during fiscal year 2025. This represents a -127.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cardinal Infrastructure Group Inc.'s operating cash flow?
Cardinal Infrastructure Group Inc. (CDNL) generated $37.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cardinal Infrastructure Group Inc.'s total assets?
Cardinal Infrastructure Group Inc. (CDNL) had $394.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cardinal Infrastructure Group Inc.'s capital expenditures?
Cardinal Infrastructure Group Inc. (CDNL) invested $43.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Cardinal Infrastructure Group Inc.'s current ratio?
Cardinal Infrastructure Group Inc. (CDNL) had a current ratio of 2.35 as of fiscal year 2025, which is generally considered healthy.
What is Cardinal Infrastructure Group Inc.'s debt-to-equity ratio?
Cardinal Infrastructure Group Inc. (CDNL) had a debt-to-equity ratio of 5.75 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cardinal Infrastructure Group Inc.'s return on assets (ROA)?
Cardinal Infrastructure Group Inc. (CDNL) had a return on assets of 5.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cardinal Infrastructure Group Inc.'s P/E ratio?
Cardinal Infrastructure Group Inc. (CDNL) trades at 32.1x earnings, its market capitalization divided by net income of $22.7M net income, FY2025. The market capitalization is $728.3M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cardinal Infrastructure Group Inc.'s price-to-sales ratio?
Cardinal Infrastructure Group Inc. (CDNL) trades at 1.6x sales, its market capitalization divided by revenue of $456.0M revenue, FY2025. The market capitalization is $728.3M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cardinal Infrastructure Group Inc.'s Altman Z-Score?
Cardinal Infrastructure Group Inc. (CDNL) has an Altman Z-Score of 3.17, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cardinal Infrastructure Group Inc.'s Piotroski F-Score?
Cardinal Infrastructure Group Inc. (CDNL) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cardinal Infrastructure Group Inc.'s earnings high quality?
Cardinal Infrastructure Group Inc. (CDNL) has an earnings quality ratio of 1.67x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Cardinal Infrastructure Group Inc. cover its interest payments?
Cardinal Infrastructure Group Inc. (CDNL) has an interest coverage ratio of 5.92x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Cardinal Infrastructure Group Inc.?
Cardinal Infrastructure Group Inc. (CDNL) scores 60 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.