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Cardinal Infrastructure Group, Inc. CDNL Establishment Of Liabilities Under Tax Receivable Agreement

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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+35.3%
Enterprise value$1.43B
P/E83×
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 cdnl:EstablishmentOfLiabilitiesUnderTaxReceivableAgreement.

The official record: Cardinal Infrastructure Group, Inc. ’s 10-K, filed March 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cardinal Infrastructure Group, Inc. 's establishment of liabilities under tax receivable agreement?
Cardinal Infrastructure Group, Inc. (CDNL) reported establishment of liabilities under tax receivable agreement of $9.86M in Q4 2025.
What does establishment of liabilities under tax receivable agreement mean?
Represents the obligation to pay a portion of realized tax savings to pre-existing owners or partners under a Tax Receivable Agreement. This liability is established when the company expects to benefit from tax attributes that trigger a contractual payment obligation. Investors monitor this to understand the company's future cash outflow commitments related to past ownership structures.