企業概要
Cadeler A/S is an offshore wind installation vessel contractor that operates across Denmark, the United Kingdom, Germany, Poland, the rest of Europe, the United States, and Taiwan, specializing in the transport and installation of offshore wind turbine generators. The company operates within the Industrials sector and specifically within the Engineering & Construction industry, positioning it as a key player in the renewable energy infrastructure development landscape. As of the latest available data, the company holds a market capitalization of $2.52 billion, generates annual revenue of $620.35 million, and employs 1,073 individuals globally. These valuation and revenue figures indicate that Cadeler A/S is a mid-to-large-cap entity with significant operational scale, suggesting a substantial footprint in the competitive offshore wind market and the ability to execute large-scale capital projects.
財務健全性
The company reported a revenue of $620.35 million over the trailing twelve months, with a net income of $280.18 million and an EBITDA of $423.14 million. The substantial gap between the revenue of $620.35 million and the net income of $280.18 million reveals a highly efficient cost structure where operating expenses and taxes consume less than half of the top line. However, the free cash flow stands at -$908,160,512, which indicates a significant cash outflow that limits the company's immediate financial flexibility and suggests heavy capital expenditures or working capital requirements relative to current earnings. Profitability is highlighted by a gross margin of 61.3%, an operating margin of 41.8%, and a profit margin of 45.2%, all of which demonstrate exceptional pricing power and cost control capabilities within the construction industry. On the balance sheet, the company holds $151.68 million in cash against $1.62 billion in debt, resulting in a debt-to-equity ratio of 108.02%, which characterizes the capital structure as highly leveraged. The current ratio of 1.11 suggests that the company maintains just enough current assets to cover its current liabilities, indicating a tight but manageable short-term liquidity position. Furthermore, the return on equity is 20.5% and the return on assets is 7.4%, metrics that reveal management is generating strong returns on shareholder capital while utilizing assets efficiently despite the high leverage.
バリュエーション評価
The trailing twelve-month P/E ratio is 7.04, while the forward P/E is not available, implying that analysts cannot yet determine a valuation based on future expected earnings trajectories due to a lack of projected data in the current dataset. The price-to-book ratio is 1.32, indicating that the market values the company at a modest premium of 32% over its tangible book value, which is typical for capital-intensive engineering firms. Alternative valuation metrics such as the price-to-sales ratio of 4.06 and an EV/EBITDA of 25.02 suggest that investors are pricing in significant future growth potential despite the current low earnings multiple. The stock has traded between a 52-week low of $15.37 and a 52-week high of $26.79, providing a trading range that reflects recent market volatility and investor sentiment shifts. The beta of 0.65 indicates that the stock's price volatility is approximately 35% lower than the broader market, suggesting it acts as a defensive position within the Industrials sector relative to cyclical peers.
Growth & Income
Revenue growth is reported at 95.0% year-over-year, while earnings growth stands at 26.4%, indicating that earnings are growing at a significantly slower pace than revenue, which may imply lagging cost adjustments or one-time revenue recognition effects. The company does not pay a dividend, as evidenced by a dividend yield of N/A and a payout ratio of 0.0%, meaning the company reinvests all earnings back into operations and growth initiatives rather than distributing cash to shareholders. This retention of earnings is consistent with capital-intensive growth companies that prioritize expanding their fleet or securing new contracts over immediate shareholder payouts. Overall, the company presents a high-growth profile driven by double-digit revenue expansion and double-digit earnings growth, supported by a robust margin structure and a leveraged balance sheet.