Cadre Holdings, Inc. (CDRE) vs York Space Systems Inc. (YSS)

Cadre Holdings, Inc. and York Space Systems Inc. are both Aerospace & Defense companies. Cadre Holdings, Inc. is the larger, with a market value of $1.4B against $756.8M — 1.8× the size. York Space Systems Inc. has negative trailing earnings, so its P/E is not meaningful; Cadre Holdings, Inc. trades at 33.1×. Cadre Holdings, Inc. has the higher net margin (5.61% vs −67.3%) and the higher return on invested capital (7.36% vs −3.11%). Across the 16 metrics below, Cadre Holdings, Inc. leads on 9 and York Space Systems Inc. on 7.

Valuation

Metric CDRE YSS Aerospace & Defense median
P/E 33.09 n/m 28.48
P/S 1.88 1.77 2.95
P/B 3.75 0.40 2.68
Price to free cash flow 17.50 n/m 31.70
EV/EBITDA 17.14 n/m 16.85
EV/Sales 2.29 0.80 2.74
Earnings yield 3.02% (43.10%) 0.89%
Free cash flow yield 5.72% (48.27%) 0.00%

Profitability

Metric CDRE YSS Aerospace & Defense median
Gross margin 42.04% 39.99% 26.41%
Operating margin 10.75% (17.00%) 3.69%
Net margin 5.61% (67.28%) 2.74%
Free cash flow margin 12.13% (85.58%) 0.00%
Return on equity 11.63% 0.00% 4.44%
Return on assets 4.79% (25.87%) 1.90%
Return on invested capital 7.36% (3.11%) 0.26%

Growth

Metric CDRE YSS Aerospace & Defense median
Revenue growth (TTM) 18.35% — 18.03%
EPS growth (last fiscal year) 13.33% 14.39% 24.80%
Revenue growth, 5-year CAGR 8.57% — 9.73%
Net income growth, 5-year CAGR 2.80% — 0.00%

Health

Metric CDRE YSS Aerospace & Defense median
Debt to equity 1.01 0.08 0.20
Current ratio 2.35 5.34 2.85
Net debt to EBITDA 2.05 1.01 1.29

Dividend

Metric CDRE YSS Aerospace & Defense median
Dividend yield 1.25% — 0.91%
Payout ratio 0.42 — 0.30

Size

Metric CDRE YSS Aerospace & Defense median
Market cap 1.38b 756.84m 1.78b

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