Cardinal Infrastructure Group Inc. (CDNL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+1393.5%

$230.00

vs $15.40 price

Levered DCF

$184.52

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.64

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023
P/E	15.8×	14.51×	15.06×
P/B	6.12×	26.42×	700.71×
P/S	0.78×	0.99×	1.25×
EV / EBITDA	5.5×	6.15×	8.29×
Gross margin	21.1%	14.8%	19.7%
Operating margin	8.8%	12.3%	11.9%
Net margin	5.0%	6.8%	8.3%
Current ratio	2.35×	1.1×	0.83×
Debt / equity	2.35×	5.39×	124.53×
Interest coverage	5.9×	8.04×	7.4×
Dividend yield	6.6%	4.2%	2.9%
Payout ratio	103.3%	60.8%	44.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023
Return on equity	38.8%	181.6%	4640.5%
Return on invested capital	12.0%	42.7%	47.1%
Return on assets	5.7%	15.2%	17.3%
Free cash flow yield	-1.7%	7.0%	6.0%
Earnings yield	6.3%	6.9%	6.6%
Enterprise value	$397.7M	$353.1M	$358.6M
Net debt / EBITDA	0.56×	0.74×	1.11×
Cash conversion cycle (days)	32	13	1