Cardinal Infrastructure Group Inc. (CDNL)

CDNL Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023
Revenue	395.16	315.19	247.92
Revenue Growth (YoY)	59.39%	27.13%	-
Cost of Revenue	312.91	249.89	199.08
Gross Profit	82.25	65.3	48.84
Selling, General & Admin	14.06	10.69	5.6
Operating Expenses	42.48	29.35	18.78
Operating Income	39.77	35.95	30.06
Interest Expense	-5.26	-4.83	-3.99
Other Non Operating Income (Expenses)	0.45	-1	-0.95
EBT Excluding Unusual Items	34.96	30.12	25.13
Merger & Restructuring Charges	-0.52	-0.45	-1.2
Gain (Loss) on Sale of Assets	0.23	-0.01	0.37
Pretax Income	34.67	29.65	24.3
Income Tax Expense	2.03	1.35	-
Earnings From Continuing Operations	32.64	28.3	24.3
Minority Interest in Earnings	-8.51	-6.94	-3.72
Net Income	24.13	21.36	20.57
Net Income to Common	24.13	21.36	20.57
Net Income Growth	17.31%	3.82%	-
Free Cash Flow	0.93	21.87	18.62
Gross Margin	20.82%	20.72%	19.70%
Operating Margin	10.06%	11.40%	12.13%
Profit Margin	6.11%	6.78%	8.30%
Free Cash Flow Margin	0.23%	6.94%	7.51%
EBITDA	68.19	54.61	43.25
EBITDA Margin	17.26%	17.33%	17.44%
D&A For EBITDA	28.41	18.66	13.18
EBIT	39.77	35.95	30.06
EBIT Margin	10.06%	11.40%	12.13%
Effective Tax Rate	5.85%	4.56%	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q