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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+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:PaymentsForRepurchaseOfEquity.

The source filing: Cardinal Infrastructure Group, Inc.’s 10-K, filed March 23, 2026.

Filed
Mar 23, 2026, 5:25 PM EDT
Fiscal year
FY2025
Accession
0001193125-26-120014
Line itemYear ended December 31, 2025Year ended December 31, 2024Year ended December 31, 2023
Member distributions(23,430,129)(12,989,809)(9,161,634)
Proceeds from stock subscription3,834
Proceeds from equity offering, net of underwriting discounts258,284,250
Repurchase of outstanding equity / Cardinal's OpCo units(157,500,000)
Payment of initial public offering issuance costs(5,639,464)
Net cash provided by (used in) financing activities139,831,861(7,960,095)(2,690,783)
Net change in cash76,232,31713,696,4925,833,522
Cash

Item 16. Form 10-K Summary

FAQ

What is Cardinal Infrastructure Group, Inc.'s share buybacks?
Cardinal Infrastructure Group, Inc. (CDNL) reported share buybacks of $39.38M in Q4 2025.
What does share buybacks mean?
Cash used to buy back the company's own shares on the open market or through structured programs, reducing shares outstanding.

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