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

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Cadeler A/S Sponsored ADR

(NYSE:CDLR)

70Outperform

Cadeler A/S is performing well, with strong financials and a positive earnings outlook. However, high leverage and negative free cash flow are risks, while the stock's valuation appears high. Technical indicators suggest neutral to slightly positive momentum. Overall, the company is well-positioned for future growth, but careful management of financial risks is essential.

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

Market Cap

$1.79B

Dividend YieldN/A

Average Volume (3M)47.24K

Price to Earnings (P/E)25.7

Beta (1Y)0.79

Revenue GrowthN/A

EPS GrowthN/A

CountryUS

Employees659

SectorGeneral

Sector StrengthN/A

IndustryMarine Shipping

Share Statistics

EPS (TTM)0.80

Shares Outstanding87,739,395

10 Day Avg. Volume29,486

30 Day Avg. Volume47,236

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)34.51

Price to Cash Flow (P/CF)N/A

P/FCF Ratio0.00

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

$37.00

Price Target Upside80.66% Upside

Rating ConsensusModerate Buy

Number of Analyst Covering1

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 contracts with energy companies and wind farm developers for the installation and maintenance of offshore wind turbines. The company's key revenue streams include project-based contracts for new wind farm installations, long-term service agreements for the maintenance and repair of existing wind farms, and the chartering of its specialized fleet for various offshore projects. Cadeler also benefits from strategic partnerships with major players in the renewable energy sector, enhancing its market position and expanding its project pipeline. These partnerships, along with its advanced engineering capabilities and fleet, enable Cadeler to secure a steady flow of projects and revenue in the growing offshore wind market.

Cadeler A/S Sponsored ADR Financial Statement Overview

Summary

Cadeler A/S has shown impressive revenue and profit growth, signaling strong operational performance. The company has a robust equity base, though with increased leverage that could introduce financial risk. Cash flow from operations is healthy, but substantial capital expenditures have led to negative free cash flow, necessitating careful cash management and reliance on external financing.

Income Statement

Positive

Cadeler A/S has demonstrated strong growth in revenue over the past year, with a significant increase from $108.6 million in 2023 to $248.7 million in 2024, representing a growth rate of 128.9%. The gross profit margin also improved from 44.9% to 50.0%, indicating enhanced operational efficiency. The net profit margin rose from 10.6% to 26.2%, showcasing improved profitability. However, the lower EBIT margin of 27.9% compared to EBITDA margin of 51.0% suggests high depreciation and amortization expenses.

Balance Sheet

Positive

The company maintains a healthy equity ratio of 63.7% in 2024, indicating a strong equity position relative to its assets. The debt-to-equity ratio increased to 0.47 from 0.21 in 2023, reflecting higher leverage, which could pose a risk if not managed carefully. Return on Equity improved significantly to 5.3% from 1.2%, driven by higher net income, showcasing effective utilization of equity.

Cash Flow

Positive

Cadeler A/S experienced a substantial increase in operating cash flow to $93.1 million in 2024 from $63.4 million in 2023, signifying improved cash generation from core operations. However, free cash flow remained negative at -$522.9 million due to high capital expenditures, which could constrain liquidity if not offset by financing activities.

Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
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
	EBIT
69.44M	14.44M	41.19M	11.13M	-35.91M
	EBITDA
126.87M	37.42M	59.75M	27.36M	-7.26M
	Net Income Common Stockholders
65.07M	11.50M	35.54M	7.45M	-27.03M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
58.46M	96.61M	19.01M	2.31M	63.64M
	Total Assets
1.94B	1.25B	670.03M	424.77M	336.81M
	Total Debt
581.99M	206.56M	115.28M	73.58M	74.29M
	Net Debt
523.52M	109.96M	96.27M	71.27M	10.66M
	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

Technical Analysis Sentiment

Positive

Last Price20.48

Price Trends

50DMA

19.41

Positive

100DMA

20.71

Negative

200DMA

23.38

Negative

Market Momentum

MACD

0.20

Negative

RSI

57.87

Neutral

STOCH

80.83

Negative

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 20.48 is above the 20-day moving average (MA) of 19.75, above the 50-day MA of 19.41, and below the 200-day MA of 23.38, indicating a neutral trend. The MACD of 0.20 indicates Negative momentum. The RSI at 57.87 is Neutral, neither overbought nor oversold. The STOCH value of 80.83 is Negative, 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
DAC	77 Outperform	$1.50B	3.09	15.68%	4.10%	6.00%	-9.89%
ZIM	73 Outperform	$1.73B	0.79	66.17%	50.64%	63.25%	―
SBLK	72 Outperform	$1.70B	5.16	14.71%	14.81%	33.31%	62.94%
GOGL	71 Outperform	$1.55B	6.93	11.68%	13.56%	9.33%	98.70%
CDLR	70 Outperform	$1.79B	25.73	7.40%	―	―	―
CMRE	64 Neutral	$1.10B	3.76	13.07%	5.02%	37.10%	-17.36%
Sector *	55 Neutral	$4.17B	-1.50	-15.12%	5.20%	17.18%	-44.55%

* General Sector Average

Performance Comparison

CDLR

Cadeler A/S Sponsored ADR

20.48

1.78

9.52%

CMRE

Costamare

9.18

-2.28

-19.90%

DAC

Danaos

80.46

6.24

8.41%

SBLK

Star Bulk Carriers

14.49

-7.72

-34.76%

GOGL

Golden Ocean Group

7.77

-4.78

-38.09%

ZIM

ZIM Integrated Shipping Services

14.34

5.90

69.91%

Cadeler A/S Sponsored ADR Earnings Call Summary

Earnings Call Date: Mar 25, 2025 | % Change Since: -1.30% | Next Earnings Date: May 21, 2025

Earnings Call Sentiment Positive

Cadeler's earnings call conveyed a generally positive outlook, with strong financial results, successful project and vessel deliveries, and significant backlog growth. While challenges in the U.S. market and increased costs were noted, the company's strategic positioning and operational achievements suggest a robust trajectory forward.

Highlights

Strong Financial Performance

Cadeler achieved strong financial performance in 2024, with revenue doubling from the previous year and EBITDA tripling to EUR126 million.

Successful Vessel Deliveries

Cadeler delivered Wind Peak and the first M-class vessel on time and on budget, contributing to 50% of 2025 deliveries completed.

Backlog Growth

The company's backlog increased to EUR2.5 billion, a 47% growth since the previous year, with 94% of the backlog having final investment decisions.

Operational Achievements

Cadeler successfully installed 60 Siemens 14.7 MW turbines on the Moray West project, marking the first installation of this next-generation turbine platform.

Refinancing and Financial Strength

The company refinanced the M-Class facility on improved terms, increased capacity on the unsecured HoldCo facility, and extended revolving credit capacity.

Strong Market Position

Cadeler is positioned as a leading pure play T&I company, with a strong focus on the European market and growing presence in Asia and North America.

Lowlights

Challenges in the U.S. Market

Despite increased activity, the U.S. market presents complexities and political headwinds, requiring a cautious project-by-project approach.

Increased Costs

SG&A and other expenses rose to EUR55 million as the company ramped up its organization, impacting short-term profitability.

Company Guidance

In the 2024 Annual Result Report Presentation, Cadeler reported strong financial performance, exceeding the upper end of their EBITDA guidance. The company highlighted the successful delivery of the Wind Peak vessel on time and on budget, as well as the completion of the first M-class vessel in January 2025. Cadeler's backlog increased to EUR 2.5 billion, reflecting a 47% growth since the previous year, with 94% of this backlog having final investment decisions. The company executed several projects, including the installation of 60 Siemens turbines on the Moray West project. Cadeler also refinanced their M-Class facility on improved terms and raised equity to fund a third A-class order. Their 2025 guidance forecasts revenue between EUR 485 million and EUR 525 million, with an EBITDA range of EUR 278 million to EUR 380 million, contingent upon timely vessel deliveries.

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.