# Cardinal Infrastructure Group Class A Common Stock (CDNL.US)

Canonical: https://gigainvestors.com/s/CDNL

Analysis as of: 2026-10-16T07:27:19.224Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $15.92 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Dan Davidowitz](https://gigainvestors.com/pcm): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 83% since Jun 2026

Story as of 2026-10-16T10:01:29.522Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in engineering & construction; annual sales are USD 456 million.

- Source: https://www.sec.gov/Archives/edgar/data/2079999/000119312526120014/cdnl-20251231.htm (filed 2026-03-23); FY2025: revenue 456045369; grossProfit 96147790; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); CDNL.US: Cardinal Infrastructure Group Inc., a civil contracting company, provides site development and infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets in the southeastern United States. It offers wet utility installations, such as water, sewer, and stormwater systems, as well as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services. The company was formerly known as Civil Infrastructure Group Inc. and changed its name to Cardinal Infrastructure Group Inc. in September 2025. The company was founded in 2013 and is headquartered in Raleigh, North Carolina.

### Why customers stay

Margins ranged from 14.8% to 21.1% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-23); FY2023: grossProfit / revenue = 19.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-23); FY2024: grossProfit / revenue = 14.8%.

- Source: https://www.sec.gov/Archives/edgar/data/2079999/000119312526120014/cdnl-20251231.htm (filed 2026-03-23); FY2025: grossProfit / revenue = 21.1%.

### Where the cash goes

Paid dividends in 1 of 3 years; bought back USD 157.5 million of shares.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-23); FY2023: growth capex 0; upkeep 0; cash acquisitions 10894939; owner earnings 33753511. Growth capex plus acquisitions / owner earnings = 0.32277942878297905.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-23); FY2024: growth capex 0; upkeep 0; cash acquisitions 0; owner earnings 40019400. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/2079999/000119312526120014/cdnl-20251231.htm (filed 2026-03-23); FY2025: growth capex 11440467; upkeep 32374761; cash acquisitions 59398397; owner earnings 22686057. Growth capex plus acquisitions / owner earnings = 3.122572776750054.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-23); Dividend observations: [[2023,0],[2024,0],[2025,23430129]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0002079999.json#0001193125-26-120014 (filed 2026-03-23); FY2025: cash repurchases 157500000 USD.

### Are managers owners

Insiders own 9.2% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-05); CDNL.US SharesStats.PercentInsiders = 9.193 percentage points; cache date 2026-10-05.

### What the price says

The price is 0.5 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-23); Closing price 15.92 USD; reporting-to-trading FX 1; FY2025 annual sales per share 30.794716976086768; price multiple 0.5169717913745552. FY2025 cash earnings/share 1.5318886060618502. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2025-12: $24.18 per share

- 2026-01: $25.19 per share

- 2026-02: $32.22 per share

- 2026-03: $39.66 per share

- 2026-04: $53.03 per share

- 2026-05: $51.89 per share

- 2026-06: $94.20 per share

- 2026-07: $61.89 per share

- 2026-08: $36.98 per share

- 2026-09: $30.60 per share

- 2026-10: $15.92 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/2079999/000119312526120014/cdnl-20251231.htm); period 2025-12-31, filed 2026-03-23.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.