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Cadeler A/S Sponsored ADR (CDLR)
:CDLR
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Cadeler A/S Sponsored ADR
(NYSE:CDLR)
Rating:77Outperform
Price Target:
$24.00
▲(16.85% Upside)
Cadeler A/S Sponsored ADR (CDLR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.87B
Dividend YieldN/A
Average Volume (3M)65.30K
Price to Earnings (P/E)19.8
Beta (1Y)0.77
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees659
SectorGeneral
Sector StrengthN/A
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.03
Shares Outstanding87,739,395
10 Day Avg. Volume32,301
30 Day Avg. Volume65,303
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.49
Enterprise Value/Revenue9.41
Enterprise Value/Gross Profit18.12
Enterprise Value/Ebitda17.32
Forecast
1Y Price Target
$22.00Price Target Upside7.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering0
Cadeler A/S Sponsored ADR Business Overview & Revenue Model
Company DescriptionCadeler A/S operates as an offshore wind farm transportation and installation contractor in Denmark. It also provides wind farm maintenance, construction, decommissioning, and other tasks within the offshore industry, as well as marine and engineering services. The company owns and operates four offshore jack-up windfarm installation vessels. Cadeler A/S was incorporated in 2008 and is headquartered in Copenhagen, Denmark.
How the Company Makes MoneyCadeler A/S generates revenue primarily through its service contracts with offshore wind farm developers and operators. The company offers installation services for wind turbines, where it leverages its fleet of specialized vessels to transport and install turbines at sea. Additionally, Cadeler provides maintenance and operations support to ensure the optimal performance of these wind farms. Key revenue streams include long-term service agreements, project-based installation contracts, and maintenance service contracts. The company also benefits from strategic partnerships with major energy companies and equipment manufacturers, which help secure its position in the growing offshore wind market. These partnerships often lead to repeat business and long-term collaborations, further stabilizing and enhancing its revenue model.
Cadeler A/S Sponsored ADR Earnings Call Summary
Earnings Call Date:May 21, 2025
(Q1-2025)
| % Change Since: 1.73%|
Next Earnings Date:Aug 26, 2025
Earnings Call Sentiment Positive
The earnings call highlights Cadeler's strong financial performance, strategic growth in fleet operations, and successful entry into the O&M market with the launch of Nexra. The company's robust backlog and positive financial outlook further underscore its strong market position. However, challenges such as market unpredictability in the US, project delays, and increased operational costs present concerns. Despite these challenges, Cadeler's future prospects remain promising, with significant growth opportunities identified across global markets.Q1-2025 Updates
Positive Updates
On-Schedule Delivery of Newbuilds
Two newbuilds, the Wind Maker and the Wind Pace, were delivered on or ahead of schedule and on budget in Q1 2025, representing 50% of the newbuilds planned for the year.
Significant Backlog Growth
Cadeler's contract backlog increased to over EUR 2.5 billion, with 100% of the backlog having reached Final Investment Decision (FID).
Strong Financial Performance
Revenue reached EUR 65.5 million, significantly up from the previous year, with an EBITDA of EUR 23.7 million. The equity ratio remains strong at 49.7% despite increasing debt.
Successful Expansion of Fleet Operations
Seven vessels are now active globally, with operations in Europe, APAC, and the US, showcasing Cadeler’s expanding global footprint.
Introduction of Nexra Division
Cadeler launched 'Nexra,' a new division focused on Operations and Maintenance (O&M) services, positioning the company to meet growing O&M demand.
Positive Full-Year Financial Outlook
Full-year revenue is projected between EUR 485 million and EUR 525 million, with an EBITDA between EUR 278 million and EUR 318 million, reflecting significant growth from 2024.
Negative Updates
Uncertainty in US Offshore Wind Market
Executive orders are halting projects in the US, creating unpredictability in the market despite long-term potential.
Project Delays and Cancellations
Increased project delays and uncertainty, as seen with the Hornsea 4 project, which impacts market confidence.
Increased Operational Costs
SG&A and operational expenses have increased due to organizational ramp-up and additional trainee positions, which are impacting overall profitability.
Company Guidance
In the Q1 2025 call, Cadeler presented a comprehensive overview of their performance and future outlook. The company reported revenue of EUR 65.5 million, significantly higher than the previous year, and an EBITDA of EUR 23.7 million. Their contract backlog reached over EUR 2.5 billion, with 100% having reached Final Investment Decision (FID). Newbuild deliveries of Wind Maker and Wind Pace were completed on schedule and budget, contributing to the active global fleet of seven vessels. Utilization stood at 79.4%, with adjustments accounting for dry dock and transition periods. The company's equity ratio was 49.7%, and they maintained a strong balance sheet with cash reserves of EUR 94 million. Cadeler's full-year outlook anticipates revenue between EUR 485 million and EUR 525 million and EBITDA ranging from EUR 278 million to EUR 318 million. The introduction of the Nexra division focuses on enhancing O&M services, aiming to leverage their fleet for increased client engagement and utilization. Overall, Cadeler remains optimistic about growth opportunities in the offshore wind market despite industry challenges.Cadeler A/S Sponsored ADR Financial Statement Overview
Summary
Cadeler A/S shows strong revenue growth and profitability with a robust equity position. However, challenges such as high leverage and negative free cash flow due to capital expenditures persist.Income Statement
Cadeler A/S has demonstrated strong revenue growth with a significant increase in total revenue from $195.01M in 2020 to $295.15M in the TTM period. The gross profit margin has improved significantly, showing good operational efficiency. In the TTM period, the net profit margin also showed a healthy increase to almost 29.7%, reflecting strong profitability. While the EBIT and EBITDA margins have shown positive trends, the company should continue focusing on managing operational costs to sustain these margins.85
Very Positive
Balance Sheet
The balance sheet indicates a strong equity position with a stockholders' equity of $1.23B in the TTM period. The debt-to-equity ratio is a bit high, which may pose a risk if interest rates rise or cash flows decrease. However, the equity ratio is stable, indicating a solid asset base. Return on equity has shown improvement, driven by increased net income, suggesting effective use of shareholder funds.78
Positive
Cash Flow
Cadeler A/S has reported negative free cash flow due to high capital expenditures, though operating cash flow remains positive. The operating cash flow to net income ratio indicates good cash generation from operations, but the free cash flow to net income ratio is negative, highlighting the impact of heavy investments. The company should aim to balance capital investments with cash flow generation to ensure long-term sustainability.72
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 248.74M | 108.62M | 106.42M | 60.94M | 19.50M |
| Gross Profit | 124.51M | 48.76M | 56.89M | 22.06M | -26.26M |
| EBITDA | 126.87M | 37.42M | 59.75M | 27.36M | -7.26M |
| Net Income | 65.07M | 11.50M | 35.54M | 7.45M | -27.03M |
Balance Sheet | |||||
| Total Assets | 1.94B | 1.25B | 670.03M | 424.77M | 336.81M |
| Cash, Cash Equivalents and Short-Term Investments | 58.46M | 96.61M | 19.01M | 2.31M | 63.64M |
| Total Debt | 581.99M | 206.56M | 115.28M | 73.58M | 74.29M |
| Total Liabilities | 703.12M | 293.52M | 129.46M | 99.51M | 95.75M |
| Stockholders Equity | 1.23B | 959.04M | 540.57M | 325.26M | 241.06M |
Cash Flow | |||||
| Free Cash Flow | -522.85M | -3.55M | -196.37M | -133.18M | -265.74M |
| Operating Cash Flow | 93.10M | 63.38M | 29.04M | 30.20M | -9.60M |
| Investing Cash Flow | -615.75M | -54.73M | -225.41M | -163.38M | -256.14M |
| Financing Cash Flow | 481.99M | 70.27M | 213.07M | 71.85M | 338.81M |
Cadeler A/S Sponsored ADR Technical Analysis
Negative
20.54
Price Trends
20.79
Negative
20.43
Positive
21.49
Negative
Market Momentum
0.08
Positive
44.88
Neutral
7.82
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDLR, the sentiment is Negative. The current price of 20.54 is below the 20-day moving average (MA) of 21.00, below the 50-day MA of 20.79, and below the 200-day MA of 21.49, indicating a bearish trend. The MACD of 0.08 indicates Positive momentum. The RSI at 44.88 is Neutral, neither overbought nor oversold. The STOCH value of 7.82 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CDLR.
Cadeler A/S Sponsored ADR Risk Analysis
Cadeler A/S Sponsored ADR disclosed 46 risk factors in its most recent earnings report. Cadeler A/S Sponsored ADR reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cadeler A/S Sponsored ADR Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $1.32B | 4.65 | 14.61% | 4.47% | -7.24% | -16.39% | |
77 Outperform | $1.87B | 19.77 | 7.48% | ― | ― | ― | |
74 Outperform | $2.26B | 9.77 | 11.09% | 7.46% | 25.60% | -9.32% | |
74 Outperform | $1.92B | 0.81 | 72.40% | 53.36% | 65.83% | ― | |
71 Outperform | $1.70B | 3.83 | 13.38% | 3.67% | 4.93% | -17.08% | |
71 Outperform | $1.77B | 15.66 | 6.06% | 9.56% | -7.73% | -39.13% | |
63 Neutral | €5.50B | 16.29 | 5.63% | 1.91% | 0.00% | 0.00% |
* General Sector Average
Performance Comparison
CDLR
Cadeler A/S Sponsored ADR
21.18
-4.20
-16.55%
CMRE
Costamare
11.00
1.10
11.11%
DAC
Danaos
92.82
15.44
19.95%
SBLK
Star Bulk Carriers
19.31
-0.08
-0.41%
GOGL
Golden Ocean Group
8.90
-1.83
-17.05%
ZIM
ZIM
15.91
4.46
38.95%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.