Cardinal Infrastructure Group Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $662.6M TTM revenue base; revenue growth tapering from 25% in yr1 to 6% by yr10 (reflecting its recent M&A-driven roll-up pace, including the ALGC acquisition, normalizing toward organic infrastructure-market growth); EBIT margin held near its current TTM level of 8.4%, drifting up to 10% by yr10 as acquisitions integrate; unlevered FCF assumed at 90% of after-tax EBIT (24% tax rate, modest net capex/working-capital drag typical of an infrastructure services roll-up); 11% discount rate reflecting integration and newly-public execution risk; 3% terminal growth; $111.5M net cash ($339.1M cash less $227.6M debt); 47.47M shares outstanding.

Reasoning: Cardinal Infrastructure is a newly-public infrastructure-services roll-up with revenue nearly doubling TTM on acquisitions but margins and net income actually compressing, so a DCF anchored to its real trailing revenue and margin trend (rather than extrapolating the unsustainable M&A growth rate or ignoring the recent earnings deterioration) gives a more grounded read than the market's current multiple.