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Acquisitions at other companies

Sterling Infrastructure, Inc. logo
Sterling Infrastructure, Inc.STRL
$0-100%
Fluor logo
FluorFLR
$52M-21.2%
ESO
Energy Services of AmericaESOA
$20.78M+27,611%
Northwest Pipe logo
Northwest PipeNWPX
$8.85M
Select Water Solutions logo
Select Water SolutionsWTTR
$41.99M+1,202%
Construction Partners logo
Construction PartnersROAD
$61.55M-42.4%

Other financials

Income statement

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Revenue$167.5M+105%
Gross profit$34.2M+107%
Operating income$14.8M+86.9%
Net income$3.4M-37.6%
EPS (diluted)$0.23

Balance sheet

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Cash & equivalents$44.0M
Total debt$220.6M
Total assets$657.3M

Cash flow

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Operating cash flow$9.3M-23.0%
CapEx$9.3M-10.2%
Free cash flow-$961.0-100%

Valuation

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Market cap$1.25B+34.5%
Enterprise value$1.42B
P/E82.5×
P/S3.1×

Profitability

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Gross margin20.6%+0.6pp
Operating margin11%-0.8pp
Net margin6.8%-1.1pp
FCF margin5.7%-1.6pp

Returns & leverage

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Current ratio1.7×

Where this comes from

Reported directly by Cardinal Infrastructure Group, Inc. in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired.

The source filing: Cardinal Infrastructure Group, Inc.’s 10-Q, filed May 13, 2026.

Filed
May 13, 2026, 4:34 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001193125-26-221771
Line itemThree months ended March 31, 2026Three months ended March 31, 2025
Cash flows from investing activities:
Proceeds from the sale of property and equipment56,214144,011
Purchases of property and equipment(9,317,980)(10,372,126)
Acquisitions, net of cash acquired(125,532,857)(13,992,969)
Net cash used in investing activities(134,794,623)(24,221,084)
Cash flows from financing activities:
Proceeds from notes payable80,000,00021,736,705
Principal payments on notes payable(2,545,308)(4,280,528)

Item 1. Financial Statements.

FAQ

What is Cardinal Infrastructure Group, Inc.'s acquisitions?
Cardinal Infrastructure Group, Inc. (CDNL) reported acquisitions of $125.53M in Q1 2026.
How has Cardinal Infrastructure Group, Inc.'s acquisitions changed year-over-year?
Cardinal Infrastructure Group, Inc.'s acquisitions increased by 797.1% year-over-year, from $13.99M to $125.53M.
What does acquisitions mean?
Cash paid for business acquisitions net of cash acquired in the target company — the primary M&A cash flow line.

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