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Cardinal Infrastructure Group, Inc. CDNL Noncontrolling interests in subsidiaries

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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$1.27B+37.4%
Enterprise value$1.45B
P/E84.3×
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:MinorityInterest.

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 itemMarch 31,2026 (Unaudited)December 31,2025
Class A common stock, $0.0001 par value, 500,000,000 shares authorized; 15,292,984 and 14,947,318 shares issued and outstanding as of March 31, 2026 and December 31 2025, respectively1,5301,495
Class B common stock, $0.0001 par value, 500,000,000 shares authorized; 27,573,875 and 23,387,813 shares issued and outstanding as of March 31, 2026 and December 31 2025, respectively2,7572,339
Additional paid-in capital66,275,18857,593,814
Retained earnings4,282,031863,593
Accumulated other comprehensive loss(151,904)
Noncontrolling interests191,591,98481,076,582
Total stockholders' equity262,001,586139,537,823
Total liabilities and stockholders' equity$657,251,915$394,587,355

Item 1. Financial Statements.

FAQ

What is Cardinal Infrastructure Group, Inc.'s noncontrolling interests in subsidiaries?
Cardinal Infrastructure Group, Inc. (CDNL) reported noncontrolling interests in subsidiaries of $191.59M in Q1 2026.
What does noncontrolling interests in subsidiaries mean?
This represents the portion of a subsidiary's net assets that is owned by outside shareholders rather than the parent company. It is reported within equity to show the total value of the subsidiary's assets and liabilities that are not attributable to the parent. It reflects the non-controlling stake in consolidated entities.

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