Cadre Holdings, Inc. (CDRE) vs Voyager Technologies, Inc. (VOYG)

Cadre Holdings, Inc. and Voyager Technologies, Inc. are both Aerospace & Defense companies. Voyager Technologies, Inc. is the larger, with a market value of $2.0B against $1.1B — 1.7× the size. Voyager Technologies, Inc. has negative trailing earnings, so its P/E is not meaningful; Cadre Holdings, Inc. trades at 30.3×. Cadre Holdings, Inc. grew revenue faster over the last twelve months: 19.7% against 10.6%. Cadre Holdings, Inc. has the higher net margin (5.26% vs −78.6%) and the higher return on invested capital (6.51% vs −21.3%). Across the 17 metrics below, Cadre Holdings, Inc. leads on 14 and Voyager Technologies, Inc. on 3.

Valuation

Metric CDRE VOYG Aerospace & Defense median
P/E 30.33 n/m 33.00
P/S 1.65 10.53 3.63
P/B 3.26 4.87 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 11.05 3.94
Earnings yield 3.30% (7.46%) 1.31%
Free cash flow yield 6.92% (13.32%) 0.00%

Profitability

Metric CDRE VOYG Aerospace & Defense median
Gross margin 41.79% 10.90% 25.48%
Operating margin 10.07% (88.46%) 4.54%
Net margin 5.26% (78.61%) 2.22%
Free cash flow margin 11.40% (140.23%) 0.00%
Return on equity 10.62% (29.16%) 6.43%
Return on assets 4.21% (16.16%) 2.70%
Return on invested capital 6.51% (21.31%) 1.56%

Growth

Metric CDRE VOYG Aerospace & Defense median
Revenue growth (TTM) 19.74% 10.63% 18.43%
EPS growth (last fiscal year) 13.33% 58.77% —
Revenue growth, 5-year CAGR 8.57% — 9.62%
Net income growth, 5-year CAGR 2.80% — 0.00%

Health

Metric CDRE VOYG Aerospace & Defense median
Debt to equity 1.08 1.19 0.24
Current ratio 2.14 3.80 2.72
Net debt to EBITDA 2.05 0.49 1.12

Dividend

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

Size

Metric CDRE VOYG Aerospace & Defense median
Market cap 1.12b 1.95b 2.52b

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