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Cardinal Infrastructure Group Inc. (CDNL) stock

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NASDAQ: CDNL Nasdaq Construction & Engineering Next results ~November 12, 2026

Cardinal Infrastructure Group Inc. is a US-listed company in the construction & engineering industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$8.1

Valuation models combined (2)

Base case. Range ~$7.0–$8.3. Weighted average of 2 models (price-to-earnings vs peers, price-to-sales vs peers), the price-to-earnings vs peers counting double.

Price vs value

No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Cardinal Infrastructure Group Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders8 buying, 0 selling23 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds131 adding, 34 cuttingOf 43 active managers that changed their stake, 34 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Current signal Long-term debt rising: Long-term debt rose 207% year over year, to 18% of total assets.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 69.7% over 90 days.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 98% and a beta of 2.0 against the S&P 500.
  • Heavily shorted. 13.7% of the shares available to trade are sold short (2.7 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 12, 2026
Earnings per share
$0.42 against an average estimate of $0.42: beat by 0.9%
Revenue
$227m, up 113.9% on a year earlier
Share reaction
-40.0% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500
Guidance given
revenue $880m to $900m (full year 2026); adjusted EBITDA margin 16% to 18% (full year 2026)
Next report
November 12, 2026; average EPS estimate $0.76

Cardinal Infrastructure Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.0%
  • 1 week+5.8%
  • 1 month-49.9%
  • This year-36.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Earnings

Last results
August 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Share issue
  3. Agreement
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Insider trade
  8. Results
  9. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Cardinal Infrastructure Group Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Cardinal Infrastructure Group Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.31 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$8.3 ~$7.9–$14 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$7.0 ~$8.4–$24 Included, half weight
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$8.1 ~$7.0–$8.3 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Cardinal Infrastructure Group Inc. with Construction & Engineering in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026, before the open. Analysts expect revenue of $235m and EPS of $0.76 (range $0.48 to $1.03) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.44 — $889m +95%
Next $3.96 +62% $1.1bn +25%

Next year's EPS estimate has moved +69.7% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +49.1% on 90 days ago. In the last 30 days, 0 analysts raised Cardinal Infrastructure Group Inc.'s forecast and 0 cut it.

Consensus EPS forecast Cardinal Infrastructure Group Inc., last 90 days
$1.00 $2.00 $3.00 $4.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.64 Current fiscal year, 60 days ago: $1.64 Current fiscal year, 30 days ago: $1.64 Current fiscal year, 7 days ago: $2.44 Current fiscal year, Now: $2.44 $2.44 Next fiscal year, 90 days ago: $2.33 Next fiscal year, 60 days ago: $2.29 Next fiscal year, 30 days ago: $2.29 Next fiscal year, 7 days ago: $3.25 Next fiscal year, Now: $3.96 $3.96

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.64$2.33
60 days ago $1.64$2.29
30 days ago $1.64$2.29
7 days ago $2.44$3.25
Now $2.44$3.96

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.42 $0.42 +0.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 11, 2026
  • Revenue full year 2026 $880m to $900m Raised
    “Revenue in the range of $880 million to $900 million” source
  • Adjusted EBITDA margin full year 2026 16% to 18% Non-GAAP Raised
    “Adjusted EBITDA margin of 16% to 18%” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

5 analysts, Oct 2026
Buy5100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202655
  2. Sep 202655
  3. Aug 202644
  4. Jul 202633

Counts of recommendations published by analysts covering Cardinal Infrastructure Group Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.7%
of tradable shares
Days to cover
2.74
at average volume
Short interest, 1 month
+5%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
8.8%
of shares
Employees
1,480
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 2026 to date
Return
CDNL−36%
Industry peers (median)+0%
S&P 500+11%
Months that ended higher
CDNL55%
S&P 50046%
Largest fall from a high during the year
CDNL−86%
S&P 500−9%

Worst fall since December 10, 2025: 86% from June 29, 2026 to October 22, 2026. Getting back needed a 589% gain, and the shares have not yet recovered.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
−43.5%
vs 200-day average
−64.7%
Volatility (1 year)
98%
Beta vs S&P 500
1.98

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 2 down
typical move ±22.4%
After a week
2 up, 2 down
typical move ±22.1%
After a month
3 up, 1 down
typical move ±36.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 11, 2026 −40.0% −0.1% −24.8% −43.1%
May 12, 2026 −9.1% +0.4% −18.7% +8.1%
March 19, 2026 +0.9% −1.7% +10.3% +59.4%
February 19, 2026 +39.7% +0.5% +34.6% +34.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Cardinal Infrastructure Group took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $456M
  2. Selling, general and admin $23.5M · 5.2%
  3. Other operating costs $392M · 86.0%
  4. Operating income $40.4M · 8.9%
  5. Interest and other $15.8M · 3.5%
  6. Net income $22.7M · 5.0%

Shares of revenue. Source: Cardinal Infrastructure Group's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 248 315 456
EBITDA 43 55 66
Operating income 30 36 40
Net income 21 21 23
Growth (year on year)
Revenue — +27.1% +44.7%
EBITDA — +27.8% +20.2%
Operating income — +21.7% +12.4%
Net income — +3.8% +6.2%
Margins
EBITDA margin 17.2% 17.3% 14.4%
Operating margin 11.9% 11.4% 8.9%
Net margin 8.3% 6.8% 5.0%
Free-cash-flow margin 7.5% 6.9% −1.3%
Cash flow
Cash from operations 31 43 38
Capital spending 12 21 44
Free cash flow 19 22 −6
Stock-based pay 0 0 6
Free cash flow after stock pay 19 22 −12
Balance sheet
Total debt — 48 119
Returned to shareholders
Buybacks 0 0 158
Total returned 0 0 158

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · June 30, 2026
What it owns · $1.0bn
Short-term assets $555mLonger-term assets $459m
What it owes, and who funded it · $666m
Short-term liabilities $154mLonger-term liabilities $266mShareholders' equity $245m
  • Short-term assets cover short-term liabilities $555m of assets due within a year against $154m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $555m short-term assets against $266m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Debt is 76% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Cardinal Infrastructure Group Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$158M

Who owns it

Funds buying and selling
Reported value
$2B
Institutions reporting
157
Shares held vs prior quarter
▲ 46.2%
Positions opened / closed
74 / 10

Top buyers and sellers, Q2 2026: 131 institutions bought and 34 sold ; the biggest buyer was FMR LLC (+971K shares) and the biggest seller Ack Asset Management LLC (−874K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $279M 3.0M 13.8% ▲ 48.9%
Driehaus Capital Management LLC $114M 1.2M 5.6% ▲ 83.0%
Blackrock, Inc. $114M 1.2M 5.6% ▲ 73.2%
Lord, Abbett & Co. LLC $81M 859K 4.0% ▲ 14.4%
Emerald Advisers, LLC $79.9M 848K 4.0% ▲ 46.6%
Ameriprise Financial Inc $72.6M 771K 3.6% New
Price T Rowe Associates Inc $70.9M 753K 3.5% ▲ 8206.9%
Fred Alger Management, LLC $68.5M 727K 3.4% ▲ 5.9%
American Century Companies Inc $67M 711K 3.3% New
Vanguard Capital Management LLC $66.3M 704K 3.3% ▲ 36.6%
Victory Capital Management Inc $62.8M 667K 3.1% New
Principal Financial Group Inc $60.9M 647K 3.0% ▲ 51.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Cardinal Infrastructure Group Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $10.7M 23 trades by 8 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $10.7M net buying
Insider Date Trade Shares Price Value
Wimmer Richard Bennett Director August 17, 2026 Buy 7,500 $39.13 $293,475
Wood Benjamin Chief Operating Officer August 14, 2026 Buy 12,073 $39.77 $480,143
Wood Benjamin Chief Operating Officer August 14, 2026 Buy 13,627 $39.22 $534,451
Zelman Ivy Director August 14, 2026 Buy 12,647 $39.61 $500,948
Spivey Jeremy Simmons Chief Executive Officer August 14, 2026 Buy 12,366 $36.58 $452,348
Spivey Jeremy Simmons Chief Executive Officer August 14, 2026 Buy 14,224 $37.69 $536,103
Spivey Jeremy Simmons Chief Executive Officer August 14, 2026 Buy 11,511 $39.65 $456,411
Spivey Jeremy Simmons Chief Executive Officer August 14, 2026 Buy 45,249 $38.82 $1.8M
Wood Anthony Leon Jr. Director August 14, 2026 Buy 34,019 $39.16 $1.3M
Wood Anthony Leon Jr. Director August 14, 2026 Buy 17,381 $39.75 $690,895
Rowe Michael Bruce Jr. Chief Financial Officer August 14, 2026 Buy 7,000 $36.53 $255,710
Lee Richard Melvin Jr. Director August 14, 2026 Buy 7,000 $37.73 $264,110

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • August 11, 2026
  • May 12, 2026
  • March 19, 2026
  • February 19, 2026

Recent SEC filings

Data status

When each part of this page on Cardinal Infrastructure Group Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Cardinal Infrastructure Group Inc. in brief

What does Cardinal Infrastructure Group Inc. do?
Cardinal Infrastructure Group Inc. is a US-listed company in the construction & engineering industry. Its financial year ends in December.
What is Cardinal Infrastructure Group Inc.'s stock ticker?
Cardinal Infrastructure Group Inc. trades under the ticker CDNL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Cardinal Infrastructure Group Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Driehaus Capital Management LLC and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
How much debt does Cardinal Infrastructure Group Inc. have?
Cardinal Infrastructure Group Inc.'s debt-to-equity ratio is 75.9%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Are insiders buying or selling Cardinal Infrastructure Group Inc. stock?
Over the last 12 months, Cardinal Infrastructure Group Inc.'s directors and officers reported 23 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Cardinal Infrastructure Group Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Cardinal Infrastructure Group Inc. announces its own schedule.