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CADELER A/S (CADLR.OL) Stock Fundamental Analysis

OSL:CADLR - Euronext Oslo - DK0061412772 - Common Stock - Currency: NOK

52.25  +0.05 (+0.1%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to CADLR. CADLR was compared to 40 industry peers in the Construction & Engineering industry. While CADLR is still in line with the averages on profitability rating, there are concerns on its financial health. CADLR is not priced too expensively while it is growing strongly. Keep and eye on this one!


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

CADLR had positive earnings in the past year.
In the past year CADLR had a positive cash flow from operations.
Of the past 5 years CADLR 4 years were profitable.
Of the past 5 years CADLR 4 years had a positive operating cash flow.
CADLR.OL Yearly Net Income VS EBIT VS OCF VS FCFCADLR.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -200M -400M

1.2 Ratios

Looking at the Return On Assets, with a value of 3.84%, CADLR is in line with its industry, outperforming 47.50% of the companies in the same industry.
CADLR has a worse Return On Equity (7.71%) than 77.50% of its industry peers.
With a Return On Invested Capital value of 3.66%, CADLR is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
The Average Return On Invested Capital over the past 3 years for CADLR is significantly below the industry average of 11.40%.
The 3 year average ROIC (3.05%) for CADLR is below the current ROIC(3.66%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.84%
ROE 7.71%
ROIC 3.66%
ROA(3y)3.19%
ROA(5y)0.66%
ROE(3y)4.35%
ROE(5y)0.82%
ROIC(3y)3.05%
ROIC(5y)N/A
CADLR.OL Yearly ROA, ROE, ROICCADLR.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 100 150

1.3 Margins

The Profit Margin of CADLR (23.95%) is better than 95.00% of its industry peers.
In the last couple of years the Profit Margin of CADLR has grown nicely.
CADLR has a better Operating Margin (27.22%) than 97.50% of its industry peers.
In the last couple of years the Operating Margin of CADLR has grown nicely.
CADLR has a Gross Margin of 48.86%. This is in the better half of the industry: CADLR outperforms 67.50% of its industry peers.
In the last couple of years the Gross Margin of CADLR has grown nicely.
Industry RankSector Rank
OM 27.22%
PM (TTM) 23.95%
GM 48.86%
OM growth 3Y13.3%
OM growth 5YN/A
PM growth 3Y28.86%
PM growth 5YN/A
GM growth 3Y11.41%
GM growth 5YN/A
CADLR.OL Yearly Profit, Operating, Gross MarginsCADLR.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100 -150

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2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CADLR is destroying value.
CADLR has about the same amout of shares outstanding than it did 1 year ago.
CADLR has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, CADLR has a worse debt to assets ratio.
CADLR.OL Yearly Shares OutstandingCADLR.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
CADLR.OL Yearly Total Debt VS Total AssetsCADLR.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

CADLR has an Altman-Z score of 0.55. This is a bad value and indicates that CADLR is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.55, CADLR is doing worse than 95.00% of the companies in the same industry.
CADLR has a Debt/Equity ratio of 0.82. This is a neutral value indicating CADLR is somewhat dependend on debt financing.
CADLR has a worse Debt to Equity ratio (0.82) than 62.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF N/A
Altman-Z 0.55
ROIC/WACC0.54
WACC6.84%
CADLR.OL Yearly LT Debt VS Equity VS FCFCADLR.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M 1B

2.3 Liquidity

CADLR has a Current Ratio of 1.19. This is a normal value and indicates that CADLR is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.19, CADLR perfoms like the industry average, outperforming 52.50% of the companies in the same industry.
CADLR has a Quick Ratio of 1.17. This is a normal value and indicates that CADLR is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of CADLR (1.17) is better than 62.50% of its industry peers.
Industry RankSector Rank
Current Ratio 1.19
Quick Ratio 1.17
CADLR.OL Yearly Current Assets VS Current LiabilitesCADLR.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

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9

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 269.26% over the past year.
The Earnings Per Share has been growing by 57.20% on average over the past years. This is a very strong growth
The Revenue has grown by 128.99% in the past year. This is a very strong growth!
The Revenue has been growing by 45.32% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)269.26%
EPS 3Y57.2%
EPS 5YN/A
EPS Q2Q%116.67%
Revenue 1Y (TTM)128.99%
Revenue growth 3Y59.82%
Revenue growth 5Y45.32%
Sales Q2Q%243.46%

3.2 Future

The Earnings Per Share is expected to grow by 44.05% on average over the next years. This is a very strong growth
Based on estimates for the next years, CADLR will show a very strong growth in Revenue. The Revenue will grow by 45.05% on average per year.
EPS Next Y139.2%
EPS Next 2Y123.93%
EPS Next 3Y97.52%
EPS Next 5Y44.05%
Revenue Next Year102.14%
Revenue Next 2Y97.18%
Revenue Next 3Y64.14%
Revenue Next 5Y45.05%

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
CADLR.OL Yearly Revenue VS EstimatesCADLR.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M 800M 1B
CADLR.OL Yearly EPS VS EstimatesCADLR.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 0.5 1

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6

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 17.42, the valuation of CADLR can be described as rather expensive.
Compared to the rest of the industry, the Price/Earnings ratio of CADLR indicates a slightly more expensive valuation: CADLR is more expensive than 65.00% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 26.34. CADLR is valued slightly cheaper when compared to this.
CADLR is valuated cheaply with a Price/Forward Earnings ratio of 4.76.
Based on the Price/Forward Earnings ratio, CADLR is valued cheaply inside the industry as 97.50% of the companies are valued more expensively.
CADLR's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.19.
Industry RankSector Rank
PE 17.42
Fwd PE 4.76
CADLR.OL Price Earnings VS Forward Price EarningsCADLR.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

CADLR's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 7.94
CADLR.OL Per share dataCADLR.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 50 -50 100 -100 150

4.3 Compensation for Growth

CADLR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
CADLR has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as CADLR's earnings are expected to grow with 97.52% in the coming years.
PEG (NY)0.13
PEG (5Y)N/A
EPS Next 2Y123.93%
EPS Next 3Y97.52%

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0

5. Dividend

5.1 Amount

No dividends for CADLR!.
Industry RankSector Rank
Dividend Yield N/A

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CADELER A/S

OSL:CADLR (6/20/2025, 10:59:33 AM)

52.25

+0.05 (+0.1%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)05-21 2025-05-21/bmo
Earnings (Next)08-26 2025-08-26
Inst Owners35.29%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap4.58B
Analysts87.37
Price Target78.95 (51.1%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-11.58%
Min EPS beat(2)-75.73%
Max EPS beat(2)52.57%
EPS beat(4)2
Avg EPS beat(4)0.39%
Min EPS beat(4)-75.73%
Max EPS beat(4)52.57%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-8.41%
Min Revenue beat(2)-16.28%
Max Revenue beat(2)-0.53%
Revenue beat(4)0
Avg Revenue beat(4)-6.52%
Min Revenue beat(4)-16.28%
Max Revenue beat(4)-0.53%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.26%
PT rev (3m)-0.9%
EPS NQ rev (1m)7.14%
EPS NQ rev (3m)7.14%
EPS NY rev (1m)0%
EPS NY rev (3m)-9.13%
Revenue NQ rev (1m)3.23%
Revenue NQ rev (3m)5.62%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 17.42
Fwd PE 4.76
P/S 1.01
P/FCF N/A
P/OCF 3.96
P/B 0.32
P/tB 0.33
EV/EBITDA 7.94
EPS(TTM)3
EY5.74%
EPS(NY)10.99
Fwd EY21.03%
FCF(TTM)-115.87
FCFYN/A
OCF(TTM)13.21
OCFY25.28%
SpS51.96
BVpS161.29
TBVpS158.84
PEG (NY)0.13
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 3.84%
ROE 7.71%
ROCE 4.75%
ROIC 3.66%
ROICexc 3.82%
ROICexgc 3.85%
OM 27.22%
PM (TTM) 23.95%
GM 48.86%
FCFM N/A
ROA(3y)3.19%
ROA(5y)0.66%
ROE(3y)4.35%
ROE(5y)0.82%
ROIC(3y)3.05%
ROIC(5y)N/A
ROICexc(3y)3.16%
ROICexc(5y)N/A
ROICexgc(3y)3.18%
ROICexgc(5y)N/A
ROCE(3y)3.96%
ROCE(5y)N/A
ROICexcg growth 3Y7.82%
ROICexcg growth 5YN/A
ROICexc growth 3Y7.49%
ROICexc growth 5YN/A
OM growth 3Y13.3%
OM growth 5YN/A
PM growth 3Y28.86%
PM growth 5YN/A
GM growth 3Y11.41%
GM growth 5YN/A
F-Score6
Asset Turnover0.16
Health
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF N/A
Debt/EBITDA 5.82
Cap/Depr 1500.01%
Cap/Sales 248.44%
Interest Coverage 4.88
Cash Conversion 58.05%
Profit Quality N/A
Current Ratio 1.19
Quick Ratio 1.17
Altman-Z 0.55
F-Score6
WACC6.84%
ROIC/WACC0.54
Cap/Depr(3y)789.97%
Cap/Depr(5y)1003.15%
Cap/Sales(3y)173.5%
Cap/Sales(5y)420.41%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)269.26%
EPS 3Y57.2%
EPS 5YN/A
EPS Q2Q%116.67%
EPS Next Y139.2%
EPS Next 2Y123.93%
EPS Next 3Y97.52%
EPS Next 5Y44.05%
Revenue 1Y (TTM)128.99%
Revenue growth 3Y59.82%
Revenue growth 5Y45.32%
Sales Q2Q%243.46%
Revenue Next Year102.14%
Revenue Next 2Y97.18%
Revenue Next 3Y64.14%
Revenue Next 5Y45.05%
EBIT growth 1Y257.17%
EBIT growth 3Y81.07%
EBIT growth 5YN/A
EBIT Next Year366.91%
EBIT Next 3Y125.8%
EBIT Next 5Y68.95%
FCF growth 1Y-14640.7%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y46.89%
OCF growth 3Y45.54%
OCF growth 5YN/A