InsiderClue
Stocks · Industrials · Deep Sea Foreign Transportation of Freight

Cadeler A/S

CDLR Clue Score64
Denmark Fiscal year ends December CIK 0001978867
$21.80 +0.00% Close, 12 Oct 2026
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Price $21.80 +7.23% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 19 Dec 2023. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2021Revenue60.9Operating income11.1Net income7.5EPS, diluted0.06Fiscal year 2022Revenue106.4 +74.6%Operating income41.2Net income35.5 +377.0%EPS, diluted0.22Fiscal year 2023Revenue108.6 +2.1%Operating income14.4Net income11.5 −67.6%EPS, diluted0.06Fiscal year 2024Revenue248.7 +129.0%Operating income69.4Net income65.1 +465.9%EPS, diluted0.19Fiscal year 2025Revenue620.4 +149.4%Operating income317.7Net income280.2 +330.6%EPS, diluted0.79
FY2021FY2022FY2023FY2024FY2025
Revenue 60.9 106.4 108.6 248.7 620.4
Growth +74.6% +2.1% +129.0% +149.4%
Operating income 11.1 41.2 14.4 69.4 317.7
Net income 7.5 35.5 11.5 65.1 280.2
Growth +377.0% −67.6% +465.9% +330.6%
EPS, diluted 0.06 0.22 0.06 0.19 0.79

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2021Gross margin36.2%Operating margin18.3%Net margin12.2%Free cash flow margin−217.8%Fiscal year 2022Gross margin53.5%Operating margin38.7%Net margin33.4%Free cash flow margin−183.8%Fiscal year 2023Gross margin44.9%Operating margin13.3%Net margin10.6%Free cash flow margin−3.2%Fiscal year 2024Gross margin50.1%Operating margin27.9%Net margin26.2%Free cash flow margin−210.0%Fiscal year 2025Gross margin61.8%Operating margin51.2%Net margin45.2%Free cash flow margin−135.6%
FY2021FY2022FY2023FY2024FY2025
Gross margin 36.2% 53.5% 44.9% 50.1% 61.8%
Operating margin 18.3% 38.7% 13.3% 27.9% 51.2%
Net margin 12.2% 33.4% 10.6% 26.2% 45.2%
Free cash flow margin −217.8% −183.8% −3.2% −210.0% −135.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2021Operating cash flow30.2Capital expenditure−162.9Free cash flow−132.7Fiscal year 2022Operating cash flow29.0Capital expenditure−224.6Free cash flow−195.6Fiscal year 2023Operating cash flow63.4Capital expenditure−66.9Free cash flow−3.5Buybacks0.0Fiscal year 2024Operating cash flow93.1Capital expenditure−615.5Free cash flow−522.4Buybacks−1.3Fiscal year 2025Operating cash flow394.2Capital expenditure−1,235.7Free cash flow−841.5Buybacks−1.7
FY2021FY2022FY2023FY2024FY2025
Operating cash flow 30.2 29.0 63.4 93.1 394.2
Capital expenditure −162.9 −224.6 −66.9 −615.5 −1,235.7
Free cash flow −132.7 −195.6 −3.5 −522.4 −841.5
Growth
Buybacks n/a n/a 0.0 −1.3 −1.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2021Cash2.3Total debt73.1Net cash (debt)−70.8Shareholders’ equity325.3Debt to equity0.22Fiscal year 2022Cash19.0Total debt115.0Net cash (debt)−96.0Shareholders’ equity540.6Debt to equity0.21Fiscal year 2023Cash96.6Total debt205.6Net cash (debt)−109.0Shareholders’ equity959.0Debt to equity0.21Fiscal year 2024Cash51.3Total debt571.0Net cash (debt)−519.8Shareholders’ equity1,233.9Debt to equity0.46Fiscal year 2025Cash151.7Total debt1,610.8Net cash (debt)−1,459.1Shareholders’ equity1,503.7Debt to equity1.07
FY2021FY2022FY2023FY2024FY2025
Cash 2.3 19.0 96.6 51.3 151.7
Total debt 73.1 115.0 205.6 571.0 1,610.8
Net cash (debt) −70.8 −96.0 −109.0 −519.8 −1,459.1
Shareholders’ equity 325.3 540.6 959.0 1,233.9 1,503.7
Debt to equity 0.22 0.21 0.21 0.46 1.07

In millions of EUR, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
36.2% 53.5% 44.9% 50.1% 61.8%
18.3% 38.7% 13.3% 27.9% 51.2%
12.2% 33.4% 10.6% 27.1% 46.4%
12.2% 33.4% 10.6% 26.2% 45.2%
−217.8% −183.8% −3.2% −210.0% −135.6%
Spending
267.4% 211.0% 61.6% 247.5% 199.2%
−0.2% n/a 0.0% 3.6% 2.7%
Returns
2.3% 6.6% 1.2% 5.3% 18.6%
1.8% 5.3% 0.9% 3.4% 8.2%
Balance and payout
0.22 0.21 0.21 0.46 1.07
23.4% 19.3% 23.4% 36.3% 56.0%

Shown in EUR as filed; the screener converts to dollars.