Cadre Holdings, Inc. (CDRE) vs Satellogic Inc. (SATL)

Cadre Holdings, Inc. and Satellogic Inc. are both Aerospace & Defense companies. Cadre Holdings, Inc. is the larger, with a market value of $1.1B against $929.6M — 1.2× the size. Satellogic Inc. has negative trailing earnings, so its P/E is not meaningful; Cadre Holdings, Inc. trades at 30.3×. Satellogic Inc. grew revenue faster over the last twelve months: 130.1% against 19.7%. Cadre Holdings, Inc. has the higher net margin (5.26% vs −325.7%) and the higher return on invested capital (6.51% vs −790.6%). Across the 18 metrics below, Cadre Holdings, Inc. leads on 12 and Satellogic Inc. on 6.

Valuation

Metric CDRE SATL Aerospace & Defense median
P/E 30.33 n/m 33.00
P/S 1.65 29.12 3.63
P/B 3.26 27.42 3.24
Price to free cash flow 14.45 n/m 34.01
EV/EBITDA 14.77 n/m 18.69
EV/Sales 2.11 28.18 3.94
Earnings yield 3.30% (10.05%) 1.31%
Free cash flow yield 6.92% (4.54%) 0.00%

Profitability

Metric CDRE SATL Aerospace & Defense median
Gross margin 41.79% 78.93% 25.48%
Operating margin 10.07% (66.80%) 4.54%
Net margin 5.26% (325.65%) 2.22%
Free cash flow margin 11.40% (132.16%) 0.00%
Return on equity 10.62% 607.06% 6.43%
Return on assets 4.21% (76.94%) 2.70%
Return on invested capital 6.51% (790.58%) 1.56%

Growth

Metric CDRE SATL Aerospace & Defense median
Revenue growth (TTM) 19.74% 130.07% 18.43%
EPS growth (last fiscal year) 13.33% 97.21% —
Revenue growth, 5-year CAGR 8.57% — 9.62%
Net income growth, 5-year CAGR 2.80% 0.00% 0.00%

Health

Metric CDRE SATL Aerospace & Defense median
Debt to equity 1.08 2.65 0.24
Current ratio 2.14 2.34 2.72
Net debt to EBITDA 2.05 1.96 1.12

Dividend

Metric CDRE SATL Aerospace & Defense median
Dividend yield 0.93% — 1.04%
Payout ratio 0.40 0.00 0.00

Size

Metric CDRE SATL Aerospace & Defense median
Market cap 1.12b 929.59m 2.52b

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