Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price26.21 USD
Fair value38.92
Ethical score30.0/100
Our investment reviews on this name
2026-10-02Read Markdown26.21+0.0% to today
2026-07-02Read Markup30.45-13.9% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Cadre Holdings, Inc. holds its Markdown at $26.21. Consolidating, no directional conviction, held for 8 days.
As held on the ledger · 2026-09-24
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 8 days
Price at the screen
$26.21
Valuation
32.36 trailing · 15.97 forward price to earnings
Values screen
FAIL· score 30.0
Beta
1.31
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited business activity: Aerospace & Defense
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited business activity: Aerospace & Defense
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Cadre Holdings, does not clear the screen at the business-activity stage. It operates in aerospace and defense, so the financial ratios are not the deciding factor here.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
The Conscience Overlay
Conscience flag · AFSC Investigate
The quantitative screen above is arithmetic. Separately, community boycott lists cite this company: Documented on AFSC Investigate. The desk records that flag here without folding it into the verdict: the screen measures the balance sheet, the overlay informs the conscience, and they are different judgements that belong to different owners. The second one is yours.
Fair value range in USD, drawn from the 2026-09-24 screen. The gold marker is the market price at the same screen. A 48.5% margin of safety to the base estimate.
Third-party analyst targets: 6 covering, consensus Strong Buy. The average target sits +72% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-24 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Safety gear maker runs into ethical wall
Picture a company selling vests and gear that keep people alive in dangerous spots. Cadre looks like steady demand on paper, yet we pass without hesitation. The ethical screen flags aerospace and defence exposure straight away, and that single fact overrides every other number on the sheet.
Revenue growing at 20 percent and a forward multiple of 20.3 times might tempt some screens. Here the opportunity rating sits at none, profit margins sit at just 6 percent, and return on equity reaches only 11 percent. Fair value sits 27 percent above the current price, but none of that matters once the prohibited activity line is crossed.
The real risk is simple: any allocation would force us to ignore the exact rule the screen exists to enforce. We stay clear. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CDRE trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown · changed$26.21-23.2%Entry 6
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 23.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 14%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (5 analysts) rates it none, with a mean price target of $47.
2026-08-24Markup$34.14+17.5%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 17.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 14%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (5 analysts) rates it none, with a mean price target of $47.
2026-07-24Markup$29.06-4.6%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 4.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 14%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (5 analysts) rates it none, with a mean price target of $47.
2026-07-18Markup$30.45+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 14%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (5 analysts) rates it none, with a mean price target of $47.
2026-07-03Markup$30.45+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markup$30.45Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
