CDRE
Cadre Holdings, Inc.
Aerospace & Defense
Market Cap$1.26B
5Y Perf.+47.3%
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Stock Comparison
CDRE vs MSA
Revenue, margins, valuation, and 5-year total return — side by side.
MSA
MSA Safety Incorporated
Security & Protection Services
Market Cap$6.67B
5Y Perf.+18.6%
CDRE vs MSA — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | CDRE | MSA |
|---|---|---|
| Industry | Aerospace & Defense | Security & Protection Services |
| Market Cap | $1.26B | $6.67B |
| Revenue (TTM) | $610M | $1.92B |
| Net Income (TTM) | $44M | $291M |
| Gross Margin | 42.5% | 46.8% |
| Operating Margin | 12.3% | 22.0% |
| Forward P/E | 24.2x | 19.2x |
| Total Debt | $322M | $627M |
| Cash & Equiv. | $123M | $165M |
CDRE vs MSA — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
CDRE
MSA
| Stock | Nov 21 | May 26 | Return |
|---|---|---|---|
| Cadre Holdings, Inc. (CDRE) | 100 | 147.3 | +47.3% |
| MSA Safety Incorpor… (MSA) | 100 | 118.6 | +18.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CDRE vs MSA
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: MSA leads in 6 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Cadre Holdings, Inc. is the stronger pick specifically for growth and revenue expansion. As sector peers, any of these can serve as alternatives in the same allocation.
CDRE
Cadre Holdings, Inc.
The Growth Play
CDRE is the clearest fit if your priority is growth exposure.
- Rev growth 7.5%, EPS growth 13.3%, 3Y rev CAGR 10.1%
- 7.5% revenue growth vs MSA's 3.7%
Best for: growth exposure
MSA
MSA Safety Incorporated
The Income Pick
MSA carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 12 yrs, beta 0.90, yield 1.2%
- 294.0% 10Y total return vs CDRE's 106.3%
- Lower volatility, beta 0.90, Low D/E 45.9%, current ratio 3.01x
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | CDRE | 7.5% revenue growth vs MSA's 3.7% |
| Value | MSA | Lower P/E (19.2x vs 24.2x) |
| Quality / Margins | MSA | 15.2% margin vs CDRE's 7.2% |
| Stability / Safety | MSA | Beta 0.90 vs CDRE's 1.48, lower leverage |
| Dividends | MSA | 1.2% yield, 12-year raise streak, vs CDRE's 1.2% |
| Momentum (1Y) | MSA | +11.7% vs CDRE's -14.5% |
| Efficiency (ROA) | MSA | 11.4% ROA vs CDRE's 5.9%, ROIC 17.9% vs 11.9% |
CDRE vs MSA — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
CDRE vs MSA — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLMSALAGGINGCDRE
CDRECadre Holdings, Inc.
0leads
MSAMSA Safety Incorporat…
4leads
6 Total Categories
CATEGORYLEADERvs CDREMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
MSA6/6
Valuation MetricsMultiples, price ratios, and targets
Tied
—
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
MSA7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
MSA2/2
Analyst OutlookRatings, price targets, and dividends
MSA2/2
Income & Cash Flow (Last 12 Months)
MSA leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
MSA is the larger business by revenue, generating $1.9B annually — 3.1x CDRE's $610M. MSA is the more profitable business, keeping 15.2% of every revenue dollar as net income compared to CDRE's 7.2%. On growth, MSA holds the edge at +10.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CDRECadre Holdings, I… | MSAMSA Safety Incorp… |
|---|---|---|
| RevenueTrailing 12 months | $610M | $1.9B |
| EBITDAEarnings before interest/tax | $94M | $496M |
| Net IncomeAfter-tax profit | $44M | $291M |
| Free Cash FlowCash after capex | $57M | $309M |
| Gross MarginGross profit ÷ Revenue | +42.5% | +46.8% |
| Operating MarginEBIT ÷ Revenue | +12.3% | +22.0% |
| Net MarginNet income ÷ Revenue | +7.2% | +15.2% |
| FCF MarginFCF ÷ Revenue | +9.3% | +16.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | -5.0% | +10.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -15.6% | +21.2% |
MSA leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
Evenly matched — CDRE and MSA each lead in 3 of 6 comparable metrics.
Valuation Metrics
At 24.2x trailing earnings, MSA trades at a 17% valuation discount to CDRE's 29.3x P/E. On an enterprise value basis, MSA's 15.1x EV/EBITDA is more attractive than CDRE's 15.5x.
| Metric | CDRECadre Holdings, I… | MSAMSA Safety Incorp… |
|---|---|---|
| Market CapShares × price | $1.3B | $6.7B |
| Enterprise ValueMkt cap + debt − cash | $1.5B | $7.1B |
| Trailing P/EPrice ÷ TTM EPS | 29.30x | 24.25x |
| Forward P/EPrice ÷ next-FY EPS est. | 24.15x | 19.21x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.38x |
| EV / EBITDAEnterprise value multiple | 15.53x | 15.05x |
| Price / SalesMarket cap ÷ Revenue | 2.06x | 3.56x |
| Price / BookPrice ÷ Book value/share | 4.08x | 4.95x |
| Price / FCFMarket cap ÷ FCF | 22.17x | 22.56x |
Evenly matched — CDRE and MSA each lead in 3 of 6 comparable metrics.
Profitability & Efficiency
MSA leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
MSA delivers a 22.0% return on equity — every $100 of shareholder capital generates $22 in annual profit, vs $13 for CDRE. MSA carries lower financial leverage with a 0.46x debt-to-equity ratio, signaling a more conservative balance sheet compared to CDRE's 1.01x. On the Piotroski fundamental quality scale (0–9), MSA scores 6/9 vs CDRE's 5/9, reflecting solid financial health.
| Metric | CDRECadre Holdings, I… | MSAMSA Safety Incorp… |
|---|---|---|
| ROE (TTM)Return on equity | +13.5% | +22.0% |
| ROA (TTM)Return on assets | +5.9% | +11.4% |
| ROICReturn on invested capital | +11.9% | +17.9% |
| ROCEReturn on capital employed | +12.3% | +19.2% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 1.01x | 0.46x |
| Net DebtTotal debt minus cash | $199M | $462M |
| Cash & Equiv.Liquid assets | $123M | $165M |
| Total DebtShort + long-term debt | $322M | $627M |
| Interest CoverageEBIT ÷ Interest expense | 6.34x | 12.70x |
MSA leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — CDRE and MSA each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in CDRE five years ago would be worth $20,628 today (with dividends reinvested), compared to $10,970 for MSA. Over the past 12 months, MSA leads with a +11.7% total return vs CDRE's -14.5%. The 3-year compound annual growth rate (CAGR) favors CDRE at 14.3% vs MSA's 9.6% — a key indicator of consistent wealth creation.
| Metric | CDRECadre Holdings, I… | MSAMSA Safety Incorp… |
|---|---|---|
| YTD ReturnYear-to-date | -26.8% | +6.3% |
| 1-Year ReturnPast 12 months | -14.5% | +11.7% |
| 3-Year ReturnCumulative with dividends | +49.3% | +31.5% |
| 5-Year ReturnCumulative with dividends | +106.3% | +9.7% |
| 10-Year ReturnCumulative with dividends | +106.3% | +294.0% |
| CAGR (3Y)Annualised 3-year return | +14.3% | +9.6% |
Evenly matched — CDRE and MSA each lead in 3 of 6 comparable metrics.
Risk & Volatility
MSA leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
MSA is the less volatile stock with a 0.90 beta — it tends to amplify market swings less than CDRE's 1.48 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MSA currently trades 82.3% from its 52-week high vs CDRE's 61.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CDRECadre Holdings, I… | MSAMSA Safety Incorp… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.47x | 0.92x |
| 52-Week HighHighest price in past year | $48.76 | $208.92 |
| 52-Week LowLowest price in past year | $27.33 | $151.10 |
| % of 52W HighCurrent price vs 52-week peak | +61.3% | +82.3% |
| RSI (14)Momentum oscillator 0–100 | 48.8 | 55.8 |
| Avg Volume (50D)Average daily shares traded | 417K | 209K |
MSA leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
MSA leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Wall Street rates CDRE as "Buy" and MSA as "Buy". Consensus price targets imply 72.3% upside for CDRE (target: $52) vs 29.3% for MSA (target: $222). For income investors, MSA offers the higher dividend yield at 1.22% vs CDRE's 1.19%.
| Metric | CDRECadre Holdings, I… | MSAMSA Safety Incorp… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $51.50 | $222.33 |
| # AnalystsCovering analysts | 9 | 11 |
| Dividend YieldAnnual dividend ÷ price | +1.2% | +1.2% |
| Dividend StreakConsecutive years of raises | 2 | 12 |
| Dividend / ShareAnnual DPS | $0.36 | $2.09 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.3% |
MSA leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
MSA leads in 4 of 6 categories — strongest in Income & Cash Flow and Profitability & Efficiency. 2 categories are tied.
Best OverallMSA Safety Incorporated (MSA)Leads 4 of 6 categories
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CDRE vs MSA: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is CDRE or MSA a better buy right now?
For growth investors, Cadre Holdings, Inc.
(CDRE) is the stronger pick with 7. 5% revenue growth year-over-year, versus 3. 7% for MSA Safety Incorporated (MSA). MSA Safety Incorporated (MSA) offers the better valuation at 24. 2x trailing P/E (19. 2x forward), making it the more compelling value choice. Analysts rate Cadre Holdings, Inc. (CDRE) a "Buy" — based on 9 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CDRE or MSA?
On trailing P/E, MSA Safety Incorporated (MSA) is the cheapest at 24.
2x versus Cadre Holdings, Inc. at 29. 3x. On forward P/E, MSA Safety Incorporated is actually cheaper at 19. 2x.
03Which is the better long-term investment — CDRE or MSA?
Over the past 5 years, Cadre Holdings, Inc.
(CDRE) delivered a total return of +106. 3%, compared to +9. 7% for MSA Safety Incorporated (MSA). Over 10 years, the gap is even starker: MSA returned +290. 0% versus CDRE's +106. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CDRE or MSA?
By beta (market sensitivity over 5 years), MSA Safety Incorporated (MSA) is the lower-risk stock at 0.
92β versus Cadre Holdings, Inc. 's 1. 47β — meaning CDRE is approximately 60% more volatile than MSA relative to the S&P 500. On balance sheet safety, MSA Safety Incorporated (MSA) carries a lower debt/equity ratio of 46% versus 101% for Cadre Holdings, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — CDRE or MSA?
By revenue growth (latest reported year), Cadre Holdings, Inc.
(CDRE) is pulling ahead at 7. 5% versus 3. 7% for MSA Safety Incorporated (MSA). On earnings-per-share growth, the picture is similar: Cadre Holdings, Inc. grew EPS 13. 3% year-over-year, compared to -1. 7% for MSA Safety Incorporated. Over a 3-year CAGR, CDRE leads at 10. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — CDRE or MSA?
MSA Safety Incorporated (MSA) is the more profitable company, earning 14.
9% net margin versus 7. 2% for Cadre Holdings, Inc. — meaning it keeps 14. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MSA leads at 21. 4% versus 12. 3% for CDRE. At the gross margin level — before operating expenses — MSA leads at 46. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is CDRE or MSA more undervalued right now?
On forward earnings alone, MSA Safety Incorporated (MSA) trades at 19.
2x forward P/E versus 24. 2x for Cadre Holdings, Inc. — 4. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CDRE: 72. 3% to $51. 50.
08Which pays a better dividend — CDRE or MSA?
All stocks in this comparison pay dividends.
MSA Safety Incorporated (MSA) offers the highest yield at 1. 2%, versus 1. 2% for Cadre Holdings, Inc. (CDRE).
09Is CDRE or MSA better for a retirement portfolio?
For long-horizon retirement investors, MSA Safety Incorporated (MSA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
92), 1. 2% yield, +290. 0% 10Y return). Both have compounded well over 10 years (MSA: +290. 0%, CDRE: +106. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between CDRE and MSA?
Both stocks operate in the Industrials sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(CDRE: -5.0% · MSA: 10.0%)Net Margin>
%
(CDRE: 7.2% · MSA: 15.2%)P/E Ratio<
x
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