Cadre Holdings, Inc. (CDRE) vs HawkEye 360 Inc. (HAWK)

Cadre Holdings, Inc. and HawkEye 360 Inc. are both Aerospace & Defense companies. Cadre Holdings, Inc. and HawkEye 360 Inc. are of similar size ($1.4B and $1.3B). HawkEye 360 Inc. has negative trailing earnings, so its P/E is not meaningful; Cadre Holdings, Inc. trades at 35.9×. Cadre Holdings, Inc. has the higher net margin (5.26% vs −10.7%) and the higher return on invested capital (6.51% vs −3.95%). Across the 17 metrics below, Cadre Holdings, Inc. leads on 11 and HawkEye 360 Inc. on 6.

Valuation

Metric CDRE HAWK Aerospace & Defense median
P/E 35.86 n/m 31.60
P/S 1.95 5.99 3.36
P/B 3.85 1.13 2.99
Price to free cash flow 17.08 n/m 33.23
EV/EBITDA 16.88 32.07 19.00
EV/Sales 2.41 2.93 3.37
Earnings yield 2.79% (8.95%) 0.90%
Free cash flow yield 5.85% (1.56%) 0.00%

Profitability

Metric CDRE HAWK Aerospace & Defense median
Gross margin 41.79% 66.22% 25.95%
Operating margin 10.07% (12.35%) 1.21%
Net margin 5.26% (10.67%) 2.11%
Free cash flow margin 11.40% (9.35%) 0.00%
Return on equity 10.62% 0.00% 2.67%
Return on assets 4.21% 0.00% 1.90%
Return on invested capital 6.51% (3.95%) 0.25%

Growth

Metric CDRE HAWK Aerospace & Defense median
Revenue growth (TTM) 19.74% — 18.25%
EPS growth (last fiscal year) 13.33% 104.17% 24.80%
Revenue growth, 5-year CAGR 8.57% — 9.73%
Net income growth, 5-year CAGR 2.80% — 0.00%

Health

Metric CDRE HAWK Aerospace & Defense median
Debt to equity 1.08 0.00 0.18
Current ratio 2.14 9.80 2.85
Net debt to EBITDA 2.05 (2.47) 1.29

Dividend

Metric CDRE HAWK Aerospace & Defense median
Dividend yield 1.28% — 0.87%
Payout ratio 0.47 — 0.30

Size

Metric CDRE HAWK Aerospace & Defense median
Market cap 1.33b 1.43b 1.94b

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