Cadeler A/S (CDLR) Key Metrics
CDLR key metrics, 2016–2025
Fiscal year ended December 31, 2025 · eurosCDLR returns How much profit the business earns on the capital it uses.
CDLR financial health Debt, liquidity and how easily interest is covered.
CDLR efficiency & capital use Working capital cycle and where the cash goes.
CDLR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CDLR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CDLR cash returned to shareholders
CDLR key metrics in euros
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 19.7% | 5.9% | 1.5% | 8.2% | 2.6% | −23.7% | — | 6.6% | −31.5% | 30.2% |
| Return on invested capital (ROIC) | 12.2% | 4.7% | 1.6% | 8.0% | 3.4% | −16.1% | −9.5% | 1.0% | −7.9% | 33.2% |
| Return on assets (ROA) | 10.1% | 4.1% | 1.2% | 6.5% | 2.0% | −8.9% | −11.8% | 0.6% | −7.1% | 24.1% |
| Return on tangible assets | 7.9% | 3.4% | 0.9% | 5.3% | 1.8% | −8.0% | −8.9% | 0.7% | −4.3% | 24.1% |
| Free cash flow margin | −144.7% | −210.2% | −3.3% | −184.5% | −218.5% | — | −5.4% | 16.7% | — | — |
| Income quality (OCF / net income) | 1.21 | 1.43 | 5.51 | 0.82 | 4.05 | — | — | 13.22 | — | — |
| Financial health | ||||||||||
| Total debt | €1.62B | €582.0M | €206.6M | €115.3M | €73.6M | €74.3M | €114.3M | €115.6M | €123.9M | — |
| Cash & short-term investments | €151.6M | €58.5M | €96.6M | €19.0M | €2.3M | €63.6M | €1.2M | €397,000 | €797,000 | €807 |
| Net debt | €1.47B | €523.5M | €110.0M | €96.3M | €71.3M | €10.7M | €113.1M | €115.2M | €123.1M | −€807 |
| Debt / equity | 1.08 | 0.47 | 0.22 | 0.21 | 0.23 | 0.31 | — | 10.84 | 7.29 | — |
| Debt / assets | 0.48 | 0.30 | 0.16 | 0.17 | 0.17 | 0.22 | 0.43 | 0.86 | 0.83 | — |
| Net debt / EBITDA | 3.62 | 4.13 | 2.19 | 1.61 | 2.63 | — | — | 45.01 | — | −0.00 |
| Current ratio | 1.11 | 1.53 | 2.75 | 5.04 | 0.46 | 3.26 | 0.58 | 1.14 | 0.93 | 8.57 |
| Quick ratio | 1.10 | 1.52 | 2.72 | 5.00 | 0.45 | 3.25 | 0.57 | 1.10 | 0.91 | 8.35 |
| Interest coverage | 12.9 | 24.8 | 5.0 | 26.9 | 3.2 | -8.4 | -2.4 | 0.5 | -123.8 | 11.7 |
| Working capital | €38.9M | €65.0M | €93.8M | €47.7M | −€29.2M | €57.9M | −€13.2M | €3.2M | −€1.9M | €25.9M |
| Invested capital | €2.98B | €1.76B | €1.07B | €636.8M | €396.5M | €251.7M | €100.0M | €125.9M | €140.1M | €23.5M |
| Tangible asset value | €1.48B | €1.22B | €942.1M | €540.1M | €324.9M | €241.1M | €143.8M | €10.7M | €17.0M | €23.5M |
| Net current asset value | −€1.52B | −€514.5M | −€146.1M | −€70.0M | −€74.9M | −€12.2M | −€106.3M | −€98.1M | −€107.3M | €23.4M |
| Capital allocation | ||||||||||
| Dividends paid | €0 | €0 | €0 | €0 | €0 | — | — | — | — | — |
| Share buybacks (net) | €1.6M | €1.3M | €0 | €0 | — | — | — | — | — | — |
| Dividend payout ratio | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Capex / revenue | 199.2% | 247.6% | 61.6% | 211.8% | 268.1% | 1,313.5% | 0.2% | 0.2% | 0.0% | 0.0% |
| Capex / operating cash flow | 365.9% | 661.6% | 105.6% | 776.3% | 541.0% | — | — | 1.4% | — | — |
| Capex / depreciation | 11.04 | 10.88 | 2.90 | 9.94 | 9.91 | 16.54 | 0.00 | 0.01 | 0.00 | 0.00 |
| Stock-based compensation / revenue | 0.3% | 0.7% | 1.0% | 0.3% | −0.5% | 0.8% | — | — | — | — |
| SG&A / revenue | 11.3% | 20.7% | 23.1% | 13.0% | 17.0% | 46.7% | 17.9% | 5.5% | — | — |
| Efficiency | ||||||||||
| Days sales outstanding | 98.5 | 102.9 | 130.8 | 100.5 | 81.8 | 204.3 | 130.6 | 39.9 | 36.8 | 30.4 |
| Days of inventory on hand | 3.6 | 4.1 | 7.8 | 3.6 | 3.5 | 2.3 | 4.5 | 4.1 | 5.0 | 4.6 |
| Days payables outstanding | 26.8 | 28.6 | 40.4 | 24.6 | 33.5 | 22.5 | 12.6 | 9.6 | 6.8 | 1.2 |
| Cash conversion cycle (days) | 75.2 | 78.3 | 98.2 | 79.5 | 51.9 | 184.1 | 122.5 | 34.4 | 35.1 | 33.8 |
| Receivables turnover | 3.71 | 3.55 | 2.79 | 3.63 | 4.46 | 1.79 | 2.79 | 9.15 | 9.93 | 12.00 |
| Payables turnover | 13.60 | 12.74 | 9.05 | 14.86 | 10.90 | 16.21 | 28.91 | 38.02 | 54.07 | 300.28 |
| Inventory turnover | 100.85 | 88.52 | 46.94 | 101.79 | 103.78 | 160.34 | 81.24 | 88.07 | 72.48 | 79.49 |
| Asset turnover | 0.22 | 0.16 | 0.11 | 0.19 | 0.16 | 0.06 | 0.19 | 0.51 | 0.50 | 2.41 |
| Average receivables | €160.7M | €70.1M | €38.9M | €29.3M | €13.7M | €10.9M | €13.7M | €7.9M | €4.5M | €5.9M |
| Average payables | €17.0M | €10.0M | €6.2M | €3.4M | €3.6M | €2.8M | €1.5M | €1.7M | €922,712 | €193,424 |
| Average inventory | €2.3M | €1.4M | €1.2M | €494,500 | €376,000 | €286,500 | €551,500 | €744,000 | €688,326 | €730,653 |
| Intangibles / total assets | 0.6% | 0.9% | 1.4% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from CDLR's annual financial statements (latest annual report filed March 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in euros; data from EODHD. Averages use the opening and closing balance of each year.
CDLR valuation and financial ratios
Cadeler A/S earned a return on equity of 19.7% and a return on invested capital of 12.2% in fiscal 2025. It ended the year with €1.6 billion of debt and €151.6 million in cash and short-term investments, net debt of €1.5 billion. It returned €1.6 million to shareholders: €0 in dividends and €1.6 million in share buybacks.
See the CDLR income statement, the CDLR chart for price history, or the CDLR stock overview for the latest quote and news.
CDLR key metrics FAQ
What is Cadeler A/S's return on equity?
Cadeler A/S's return on equity (ROE) was 19.7% in fiscal 2025: net income of €269.1 million on average shareholders' equity of €1.4 billion.
What is Cadeler A/S's ROIC?
Cadeler A/S's return on invested capital was 12.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Cadeler A/S have?
Cadeler A/S had total debt of €1.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.08 and €1.5 billion of net debt (3.62 times EBITDA).
Does Cadeler A/S pay a dividend?
Cadeler A/S did not pay a dividend in fiscal 2025.
Does Cadeler A/S buy back its shares?
Yes. Cadeler A/S spent €1.6 million on net share repurchases in fiscal 2025.
What is Cadeler A/S's current ratio?
Cadeler A/S's current ratio was 1.11 at the end of fiscal 2025: current assets were 1.11 times current liabilities.