Cadeler A/S Sponsored ADR (CDLR) AI Stock Analysis

Compare

68 Followers

Top Page

Cadeler A/S Sponsored ADR

(NYSE:CDLR)

Rating:74Outperform

Price Target:

$23.50

▲(15.14% Upside)

Cadeler A/S receives a strong overall score due to its robust financial performance and strategic initiatives highlighted in the earnings call. The company's valuation suggests it is undervalued, providing potential upside. However, concerns about cash flow management and market challenges temper the score.

Cadeler A/S Sponsored ADR (CDLR) vs. SPDR S&P 500 ETF (SPY)

Market Cap

$1.78B

Dividend YieldN/A

Average Volume (3M)43.32K

Price to Earnings (P/E)6.9

Beta (1Y)0.77

Revenue GrowthN/A

EPS GrowthN/A

CountryUS

Employees659

SectorGeneral

Sector StrengthN/A

IndustryMarine Shipping

Share Statistics

EPS (TTM)2.19

Shares Outstanding87,739,395

10 Day Avg. Volume56,967

30 Day Avg. Volume43,316

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market Cap1.75

Enterprise Value/Revenue6.68

Enterprise Value/Gross Profit10.42

Enterprise Value/Ebitda9.78

Forecast

1Y Price Target

$23.50

Price Target Upside15.14% 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:Aug 26, 2025

(Q2-2025)

% Change Since: |

Next Earnings Date:Nov 20, 2025

Earnings Call Sentiment Positive

The earnings call reflects a strong financial performance with increased guidance and substantial backlog, driven by new contracts and efficient project management. While there are challenges such as the Hornsea 4 delay and uncertainty in the U.S. market, the company's strategic initiatives like Nexra and timely vessel deliveries indicate a positive outlook.

Q2-2025 Updates

Positive Updates

Above Expectation Financial Performance

Cadeler's financial performance in the first half of 2025 was above expectations with an increase in full-year guidance in July 2025. Revenue for Q2 was EUR 233.1 million, driven by termination fees and substantial growth compared to last year. The equity ratio remained solid at around 50%, and EBITDA increased from EUR 32 million to EUR 189 million.

Significant Backlog and New Contracts

Cadeler's backlog continued to strengthen, standing at EUR 2.5 billion even after the removal of the Hornsea 4 project. A new project in Taiwan, Formosa 4, was added to the backlog with healthy contract economics. The backlog includes a high level of final investment decisions at 97%.

On-schedule New Vessel Deliveries

The new vessel Wind Ally is ahead of schedule, with delivery expected at the end of September instead of November 2025. Wind Mover is also expected to be delivered slightly ahead of schedule in Q4 2025. All new builds are on or ahead of schedule and on budget.

Launch of Nexra Service Concept

Strong demand for O&M services led to the establishment of Nexra, Cadeler's service concept. The Wind Keeper vessel, secured through a long-term contract with Vestas, will undergo tailored upgrades to fit the Cadeler operating model and will start operations in Q1 2026.

Negative Updates

Hornsea 4 Project Delayed

The Hornsea 4 project was delayed by Orsted, resulting in its removal from Cadeler's backlog. Although the backlog remains strong, the project delay represents a significant challenge.

U.S. Market Challenges

The U.S. market constitutes less than 10% of Cadeler's total backlog, with the Revolution Wind project facing potential halts. The situation around this contract remains uncertain.

Company Guidance

During Cadeler's H1 2025 earnings call, the company provided guidance indicating an improvement in its financial performance, leading to an increase in full-year guidance in July 2025. The company's backlog was reported at EUR 2.5 billion, despite the removal of the Hornsea 4 project due to delays. Cadeler's fleet includes seven vessels currently on hire globally, with strong demand for operations and maintenance (O&M) services, particularly for larger turbines, prompting the establishment of Nexra, a new service concept. The company highlighted the acquisition and long-term contract for the Wind Keeper, a significant commercial achievement, with the vessel set to undergo upgrades before commencing operations in Q1 2026. For Q2 2025, Cadeler achieved a revenue of EUR 233.1 million, with a market capitalization of EUR 1.7 billion and an equity ratio of about 50%. The company adjusted its 2025 revenue outlook to a range of EUR 588-628 million and EBITDA to EUR 381-421 million, factoring in termination fees from Hornsea 4. Cadeler emphasized its strong financial position, ongoing new build projects, and strategic focus on expanding its fleet and enhancing service offerings.

Cadeler A/S Sponsored ADR Financial Statement Overview

Summary

Cadeler A/S demonstrates strong revenue growth and profitability with impressive margins. However, the company's cash flow position is concerning, with significant negative free cash flow, which could impact future investments and financial flexibility. The balance sheet shows a balanced leverage position, but cash flow management needs improvement.

Income Statement

Very Positive

Cadeler A/S shows strong revenue growth with a TTM increase of 57.57%, indicating robust demand or expansion. The company maintains healthy margins, with a gross profit margin of 51.95% and a net profit margin of 29.70% in the TTM. EBIT and EBITDA margins are also strong at 32.21% and 54.36%, respectively, reflecting efficient operations and cost management. However, the high growth rate may not be sustainable long-term, and the company should monitor for potential market fluctuations.

Balance Sheet

Positive

The balance sheet reflects a moderate debt-to-equity ratio of 0.87, suggesting a balanced approach to leveraging. Return on equity is relatively low at 7.39%, indicating room for improvement in generating returns for shareholders. The equity ratio stands at 49.51%, showing a solid equity base. While the company is not overly leveraged, the increase in total debt warrants attention to ensure financial stability.

Cash Flow

Neutral

Cadeler A/S faces challenges in cash flow management, with a negative free cash flow growth rate of -394.60% in the TTM, indicating significant cash outflows. The operating cash flow to net income ratio is 0.49, suggesting that not all earnings are translating into cash. The free cash flow to net income ratio is notably negative, highlighting potential liquidity issues. The company needs to focus on improving cash generation to support growth and operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	465.06M	248.74M	108.62M	106.42M	60.94M	19.50M
Gross Profit	297.99M	124.51M	48.76M	56.89M	22.06M	-26.26M
EBITDA	317.53M	126.87M	37.42M	59.75M	27.36M	-7.26M
Net Income	232.65M	65.07M	11.50M	35.54M	7.45M	-27.03M
Balance Sheet
Total Assets	2.77B	1.94B	1.25B	670.03M	424.77M	336.81M
Cash, Cash Equivalents and Short-Term Investments	53.03M	58.46M	96.61M	19.01M	2.31M	63.64M
Total Debt	1.21B	581.99M	206.56M	115.28M	73.58M	74.29M
Total Liabilities	1.40B	703.12M	293.52M	129.46M	99.51M	95.75M
Stockholders Equity	1.37B	1.23B	959.04M	540.57M	325.26M	241.06M
Cash Flow
Free Cash Flow	-845.71M	-522.85M	-3.55M	-196.37M	-133.18M	-265.74M
Operating Cash Flow	147.29M	93.10M	63.38M	29.04M	30.20M	-9.60M
Investing Cash Flow	-993.04M	-615.75M	-54.73M	-225.41M	-163.38M	-256.14M
Financing Cash Flow	803.97M	481.99M	70.27M	213.07M	71.85M	338.81M

Cadeler A/S Sponsored ADR Technical Analysis

Technical Analysis Sentiment

Positive

Last Price20.41

Price Trends

50DMA

20.85

Positive

100DMA

20.70

Positive

200DMA

20.87

Positive

Market Momentum

MACD

-0.03

Positive

RSI

49.95

Neutral

STOCH

20.87

Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDLR, the sentiment is Positive. The current price of 20.41 is below the 20-day moving average (MA) of 20.90, below the 50-day MA of 20.85, and below the 200-day MA of 20.87, indicating a bullish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 49.95 is Neutral, neither overbought nor oversold. The STOCH value of 20.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 (55)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CMRE	83 Outperform	$1.43B	5.03	14.61%	3.85%	-7.24%	-16.39%
DAC	80 Outperform	$1.72B	3.90	13.38%	3.62%	5.63%	-17.54%
CDLR	74 Outperform	$1.78B	6.87	18.31%	―	―	―
SBLK	74 Outperform	$2.14B	17.63	5.11%	4.13%	2.95%	-61.74%
GOGL	67 Neutral	$1.59B	14.04	6.06%	10.03%	-7.73%	-39.13%
ZIM	60 Neutral	$1.65B	0.82	59.06%	57.16%	43.57%	―
Sector *	55 Neutral	$6.29B	4.61	-20.95%	6.01%	10.84%	8.15%

* General Sector Average

Performance Comparison

CDLR

Cadeler A/S Sponsored ADR

20.97

-3.51

-14.34%

CMRE

Costamare

12.08

2.73

29.20%

DAC

Danaos

93.94

19.83

26.76%

SBLK

Star Bulk Carriers

19.11

0.17

0.90%

GOGL

Golden Ocean Group

7.98

-2.47

-23.64%

ZIM

13.49

2.91

27.50%

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.Date of analysis: Aug 30, 2025