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olivLaw · US equity research

Cardinal Infrastructure Group Inc. CDNL

Heavy Construction Other Than Bldg Const - Contractors · SIC 1600 · Vertical: Heavy Construction Other Than Bldg Const - Contractors (SIC 1600)

14.93USD−4.96% · 1 dayClose 04 Nov 2026

Cardinal Infrastructure Group Inc. is a full-service infrastructure contractor performing wet utility installation, grading, paving and site preparation for residential, commercial, industrial and public clients across the Southeastern United States. The company is expanding quickly, with revenue of 456.0 million USD in fiscal 2025 and 2026 guidance of 880 to 900 million USD.

At the close of 04 Nov 2026, Cardinal Infrastructure Group Inc. (CDNL) stock was 14.93 USD (−4.96% on the day), with beta 1.87, 52-week range 13.69–94.31 USD. Latest reported quarter (Q2 2026): revenue of 226.9 m USD (+113.9% YoY), net income of 4.7 m USD (−34.8% YoY), diluted EPS 0.26 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
unavailable
P/E (TTM)
unavailable
E/P (TTM)
unavailable
Dividend yield
unavailable
Beta (2y)
1.87
Volatility (1y) 100%
52-week range
13.6994.31

Price history

Loading chart…

Technical reading

RSI (14)
29.7
oversold (≤ 30)
Bollinger (20, 2)
10.83 – 22.00
in the lower half of the band · %B 0.37 · band width 68.1%
SMA 50 / 200
26.19 / 43.49
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-3.49 / -4.22
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−48.0%−1.1%−46.9 pp—
3 months−76.4%−0.5%−75.9 pp—
6 months−72.5%+4.4%−76.9 pp—
Year to date−38.3%+12.3%−50.6 pp—
1 yearunavailable+13.5%unavailable−9.2%
3 yearsunavailable+76.4%unavailable+57.8%
5 yearsunavailable+63.7%unavailable—
Max drawdown (1y)
−85.5%
29 Jun 2026 → 22 Oct 2026
Max drawdown (5y)
−85.5%
29 Jun 2026 → 22 Oct 2026
Compound annual growth (5y)
unavailable
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
226.9 m USD
+113.9% YoY
Net income
4.7 m USD
−34.8% YoY
Diluted EPS
0.26
unavailable YoY
net / operating
2.1% / 6.8%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ1 '25Q2 '25Q1 '26Q2 '26
Revenue81.8 m106.1 m167.5 m226.9 m
Cost of revenue65.3 m83.5 m133.3 m190.9 m
Operating income7.9 m11.7 m14.8 m15.5 m
Interest expense1.0 m1.6 m2.2 m3.5 m
Pre-tax income6.6 m10.2 m12.5 m10.1 m
Income tax0714.3 k1.1 m-1.0 m
Net income5.5 m7.2 m3.4 m4.7 m
Diluted EPS——0.230.26
Operating cash flow12.1 m4.2 m ≈9.3 m12.7 m ≈
Capex10.4 m12.2 m ≈9.3 m24.7 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year202320242025
Revenue247.9 m315.2 m456.0 m
Revenue YoYunavailable+27.1%+44.7%
Net income20.6 m21.4 m22.7 m
Net income YoYunavailable+3.8%+6.2%
Diluted EPSunavailableunavailableunavailable
Diluted EPS YoYunavailableunavailableunavailable
net %8.3%6.8%5.0%
Free cash flow18.6 m21.9 m-5.9 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
unavailable USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
139.5 m USD
Total assets
394.6 m USD
Debt / equity
unavailable
Current ratio
2.35x
ROE
27.9%
ROA
8.5%
FCF margin
-1.3%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
247.9 m
2024
315.2 m
2025
456.0 m

SEC (XBRL)· 23 Mar 2026verified

Cost of revenue
2023
199.1 m
2024
249.9 m
2025
359.9 m

SEC (XBRL)· 23 Mar 2026verified

Gross profit
2023
48.8 m ≈
2024
65.3 m ≈
2025
96.1 m ≈

SEC (XBRL)· 23 Mar 2026derived

Operating income
2023
29.5 m
2024
35.9 m
2025
40.4 m

SEC (XBRL)· 23 Mar 2026verified

Interest expense
2023
4.0 m
2024
4.8 m
2025
6.8 m

SEC (XBRL)· 23 Mar 2026verified

Pre-tax income
2023
24.3 m
2024
29.6 m
2025
33.1 m

SEC (XBRL)· 23 Mar 2026verified

Income tax
2023
0
2024
1.4 m
2025
2.0 m

SEC (XBRL)· 23 Mar 2026verified

Net income
2023
20.6 m
2024
21.4 m
2025
22.7 m

SEC (XBRL)· 23 Mar 2026verified

Balance sheet · USD

Receivables
2023
34.1 m
2024
38.3 m
2025
61.3 m

SEC (XBRL)· 23 Mar 2026verified

Current assets
2023
—
2024
77.4 m
2025
215.7 m

SEC (XBRL)· 23 Mar 2026verified

Property, plant & equipment, net
2023
—
2024
49.8 m
2025
84.9 m

SEC (XBRL)· 23 Mar 2026verified

Goodwill
2023
7.1 m
2024
7.1 m
2025
23.5 m

SEC (XBRL)· 23 Mar 2026verified

Intangibles (excl. goodwill)
2023
—
2024
0
2025
15.5 m

SEC (XBRL)· 23 Mar 2026verified

Total assets
2023
—
2024
140.3 m
2025
394.6 m

SEC (XBRL)· 23 Mar 2026verified

Accounts payable
2023
—
2024
38.3 m
2025
60.6 m

SEC (XBRL)· 23 Mar 2026verified

Current liabilities
2023
—
2024
70.5 m
2025
91.6 m

SEC (XBRL)· 23 Mar 2026verified

Total liabilities
2023
—
2024
117.0 m
2025
255.0 m

SEC (XBRL)· 23 Mar 2026verified

Equity
2023
7.5 m
2024
23.4 m
2025
139.5 m

SEC (XBRL)· 23 Mar 2026verified

Cash flow · USD

Operating cash flow
2023
30.9 m
2024
42.6 m
2025
37.9 m

SEC (XBRL)· 23 Mar 2026verified

Capex
2023
12.3 m
2024
20.8 m
2025
43.8 m

SEC (XBRL)· 23 Mar 2026verified

Free cash flow
2023
18.6 m ≈
2024
21.9 m ≈
2025
-5.9 m ≈

SEC (XBRL)· 23 Mar 2026derived

Investing cash flow
2023
-22.4 m
2024
-21.0 m
2025
-101.5 m

SEC (XBRL)· 23 Mar 2026verified

Financing cash flow
2023
-2.7 m
2024
-8.0 m
2025
139.8 m

SEC (XBRL)· 23 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
44.7%
computed by olivLawFY 2025
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
12.4%
computed by olivLawFY 2025
Net income growth (YoY)
6.2%
computed by olivLawFY 2025
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
unavailable
input data missing
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
-127.0%
computed by olivLawFY 2025

Profitability

Gross margin
19.2%
computed by olivLawTTM to 30 Jun 2026
EBITDA margin
unavailable
input data missing
EBIT margin
7.7%
computed by olivLawTTM to 30 Jun 2026
Net margin
2.7%
computed by olivLawTTM to 30 Jun 2026
FCF margin
-1.8%
computed by olivLawTTM to 30 Jun 2026

Returns

ROE
7.4%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROA
1.8%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
input data missing
ROCE
5.9%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
5.1x
computed by olivLawTTM to 30 Jun 2026

Liquidity

Current ratio
3.6x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
unavailable
input data missing
Cash ratio
unavailable
input data missing

Cash

Operating cash flow
43.6 m USD
computed by olivLawTTM to 30 Jun 2026
Capital expenditure
55.2 m USD
computed by olivLawTTM to 30 Jun 2026
Free cash flow
-11.6 m USD
computed by olivLawTTM to 30 Jun 2026
FCF conversion
-64.0%
computed by olivLawTTM to 30 Jun 2026
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
63 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
76 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
unavailable
input data missing
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
Earnings yield
unavailable
input data missing
P/B
unavailable
input data missing
P/S
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

Risk

Altman Z
unavailable
input data missing

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 4 of at least 6
  • score weight coverage: 22.9% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

14.93 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: unavailable

Key indicators

Market capitalisation
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
P/B
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
ROE
7.4%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Net margin
2.7%
computed by olivLawTTM to 30 Jun 2026
Revenue growth (YoY)
44.7%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

23/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Source: SEC (XBRL)published 12 Aug 2026
verified 153

Score by group

23% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/Eunavailable · input data missing
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption

no valuation method could be computed

Multiple comparisons use the SIC vertical: Heavy Construction Other Than Bldg Const - Contractors (SIC 1600)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 22.9% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality2.7%60 (vs peers)27%
FCF conversion · Quality-64.0%0 (on a fixed band)27%
Revenue CAGR 3Y · Growthunavailableunavailable—
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet5.1x56 (on a fixed band)27%
Current ratio · Balance sheet3.6x100 (on a fixed band)18%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet74/100 · 2/3 factors with a value
  • Growth· partialunavailable · 0/2 factors with a value
  • Quality30/100 · 2/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partialunavailable · 0/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

Cardinal Infrastructure Group Inc (CDNL). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 456.0 m USD in 2025; YoY growth 44.7%; net margin 2.7%; ROE 7.4%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 22.9% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Current ratio: 3.6x

What contradicts it

  • FCF conversion: -64.0%

Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Heavy Construction Other Than Bldg Const - Contractors (SIC 1600) · same industry (4-digit SIC) · compared with 10 companies

Multiples and returns vs the median

P/E
—
vertical median 38.9x
EV/EBITDA
—
vertical median 11.9x
P/S
—
vertical median 0.5x
P/B
—
vertical median 2.8x
ROE
7.4%
vertical median 12.2%
below median (−39.3%)
Net margin
2.7%
vertical median 1.5%
above median (+82.3%)
EBIT margin
7.7%
vertical median 6.0%
above median (+28.1%)
Revenue YoY
44.7%
vertical median 4.9%
above median (+808.9%)
Net debt/EBITDA
—
vertical median 3.3x
Dividend yield
—
vertical median 1.3%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
JJacobs Solutions Inc.18.7 bn54.39.6%2.4%+4.6%+19% / +52%
STRLSterling Infrastructure, Inc.8.7 bn15.943.3%12.9%+17.7%−18% / +347%
FLRFluor Corporation6.4 bn—-46.2%-12.8%−5.0%+11% / +25%
GVAGranite Construction Inc5.8 bn—-25.2%-5.0%+10.4%+23% / +188%
KBRKBR, Inc.5.0 bn11.427.4%5.7%+1.0%−4% / −23%
ROADConstruction Partners, Inc.1.9 bn38.915.0%4.1%+54.2%−9% / +137%
ORNOrion Group Holdings, Inc.318.8 m50.93.5%0.6%+7.0%−22% / +63%
SHIMShimmick Corporation98.8 m——-3.8%+2.6%−9% / −61%
SLNDSouthland Holdings, Inc.40.8 m——-67.0%−21.2%−76% / −86%
FERFerrovial N.V.——14.8%9.2%+5.2%−10% / +79%
CDNLCardinal Infrastructure Group Inc——7.4%2.7%+44.7%unavailable / unavailable

1- and 3-year price returns: for CDNL from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Scenarios are not available. input data missing

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

In brief

Cardinal Infrastructure Group Inc. is a full-service infrastructure contractor performing wet utility installation, grading, paving and site preparation for residential, commercial, industrial and public clients across the Southeastern United States. The company is expanding quickly, with revenue of 456.0 million USD in fiscal 2025 and 2026 guidance of 880 to 900 million USD 13.

SWOT

Strengths

  • The integrated model, with in-house crews and equipment, gives control over schedules and quality, which supports the company's reputation with clients 1.
  • A large backlog and long-standing homebuilder relationships provide revenue visibility and the ability to negotiate contracts 13.
  • Strong organic growth and a track record of integrating acquisitions show management's ability to expand into new markets 3.

Weaknesses

  • Margins compressed in the second quarter of 2026 due to higher subcontracting and equipment rental costs in developing markets 3.
  • Geographic concentration in North Carolina and reliance on fixed-price contracts expose the company to estimating risk and regional demand declines 1.
  • The Up-C structure and the payment obligations under the tax receivable agreement complicate the financial structure and may reduce cash available to shareholders 1.

Opportunities

  • The fragmented Southeastern market offers acquisition opportunities, and expansion into Georgia and South Carolina could open new client segments 13.
  • Diversifying toward commercial, industrial and public clients could reduce dependence on the residential cycle and improve margins over the long term 13.
  • Bringing paving in-house in Atlanta through the Allied Paving acquisition could shorten timelines and raise margins if integration goes to plan 3.

Threats

  • An economic downturn or lower public funding could reduce demand for new projects and delay work in the backlog 1.
  • Rising costs of materials, fuel and labor could weigh on the profitability of fixed-price contracts 13.
  • Severe weather and penalties for delays could affect results and the company's reputation 13.

Risks

  • Geographic concentrationhigh

    Operations are concentrated in North Carolina, and a decline in construction there could materially affect results 1.

  • Cost estimation on fixed-price contractshigh

    If cost estimates prove wrong or overruns occur, contract profitability could fall or losses could arise 1.

  • Acquisition integrationmedium

    Several acquisitions in a short period can strain administrative and operational resources and delay the synergies announced 13.

  • Margin pressuremedium

    Higher subcontracting and equipment rental costs, combined with corporate investment, reduced adjusted margins in the second quarter of 2026 3.

  • Up-C structure and tax obligationslow

    Payments to the continuing equity holders may absorb a significant part of the tax savings, reducing available cash flow 1.

Investment thesis

What would need to be true (bull case)

  • If demand stays strong and acquisitions integrate well, revenue growth could continue and margins could return toward planned levels over the medium term 3.
  • A position in the Southeastern United States, in a fragmented market with population growth, could allow further consolidation and expansion into new cities 13.

What would break the thesis

  • If subcontracting and labor costs stay high, margins could remain below expected levels, especially in new markets 3.
  • Dependence on North Carolina and residential demand could expose the company to a regional slowdown or to cuts in public investment 1.
  • Repeated acquisitions could create integration difficulties and could dilute shareholders if partly funded with shares 13.

What to watch

  • Adjusted EBITDA margin against the 16% to 18% guidanceQ3 2026
  • Completion of the Allied Paving acquisition and its integrationQ4 2026
  • Subcontracting and equipment rental costs in new markets2027

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

The business

Backlog was 682.0 million USD at December 31, 2025 1 and reached 866 million USD at June 30, 2026 3, providing revenue visibility, although customers may cancel contracts in the backlog 1. Most revenue comes from fixed-unit price and lump sum contracts, which makes profitability sensitive to cost estimates 1.

In August 2026 the company announced the acquisition of Allied Paving, an Atlanta paving and heavy site contractor, for about 120 million USD, its third acquisition in 2026 after ALGC and Piedmont Pipe 3. Completion is expected in early October 2026 and it brings paving capabilities in-house in Atlanta 3.

Segments

Wet utilities and residential site work

The residential segment, the core of the business, covers water, sewer and stormwater installations for regional and national homebuilders, with long-standing customer relationships 12. It remained strong in the second quarter of 2026, while the company diversified toward commercial and industrial work 3.

Paving and commercial, industrial and public work

The commercial, industrial, municipal and state segment includes paving, concrete work and site services for larger projects, and acquisitions such as Allied Paving add paving capabilities 13. The company said expanding this segment raised subcontracting and equipment rental costs in developing markets, which weighed on second quarter 2026 margins 3.

Market context

Cardinal's North Carolina markets have seen strong population growth: the state grew 15.8% between 2010 and 2024 and is expected to grow 6.3% between 2024 and 2030 according to the state budget office 1. Demand for water and transport infrastructure is supported by this growth, and the company is expanding into South Carolina and Georgia 12.

The company describes its market as very fragmented and attractive, with many small providers, which leaves room for consolidation through acquisitions 1. Demand remains sensitive to economic cycles, public project funding and the cost of materials and labor 1.

Trends

  • Population growth in the Southeasttailwind

    Rapid population growth in North Carolina and neighboring states supports demand for water, sewer and road work, which could sustain project volume over the medium term 1.

  • Consolidation through acquisitionsmixed

    The company has integrated several regional firms and seeks small acquisitions to add capabilities and geography, which can speed growth but also complicates integration 13.

  • Material and labor costsheadwind

    Volatile prices for fuel, asphalt, cement and steel, along with scarce skilled labor, could compress margins if they cannot be passed on to clients 13.

  • Strong residential demand and diversificationmixed

    Residential demand remains strong, and extending toward commercial, industrial and public clients could reduce reliance on homebuilders but carries higher upfront costs 3.

Competitive position

The site services market in the Southeastern United States is fragmented, with local and regional contractors of varying size, as well as larger general contractors that subcontract much of the work 1. Cardinal differentiates itself through self-performed work with its own crews and equipment, which lets it offer shorter timelines 1.

Competition also plays out in bidding, where price can be decisive, but the company says its homebuilder relationships allow it to negotiate contracts rather than compete only on price 1. This position depends on keeping quality and schedule performance high 1.

  • Regional and national general contractors

    Larger general contractors compete for the same commercial and public projects but subcontract most site work, unlike Cardinal's integrated model 1.

  • Local utility and site work providers

    Small and mid-sized firms in North Carolina, South Carolina and Georgia offer similar services in local niches and form part of the fragmented market Cardinal targets through acquisitions 1.

  • Atlanta paving and site construction firms

    Competitors in the Atlanta area are addressed through the Allied Paving acquisition, which signals a competitive regional market in which Cardinal seeks to consolidate 3.

  • Subcontractors and equipment rental providers

    Subcontractors and equipment rental firms are both suppliers and indirect competitors, since reliance on them raises costs when internal capacity is stretched 13.

News & filings

In the press

The latest news item in our archive is from 09 Oct 2026; the newest SEC filing is from 19 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Cardinal Infrastructure Group Inc. · 23 Mar 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Cardinal Infrastructure Group Inc. · 12 Aug 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Cardinal Infrastructure Group Inc. · 11 Aug 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.