CDE CDE

Name: CDE Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored April 5, 2026

Price at analysis: $17.88

Crucible Score

59.7

C+

Quality × Value Composite

KQI — Quality

64.0

B-

Fundamental Quality Index

KVI — Value

54.4

C-

Valuation Attractiveness Index

Crucible Verdict — CDE

CDE delivers solid financial quality (82) and growth prospects (74) but struggles with market positioning (44) and diversification (45), resulting in a middling C+ rating. The stock trades at a 10% discount to fair value despite reasonable fundamentals, though management's mixed track record and poor earnings consistency (34% beat rate) create execution risk. Monitor whether leadership can translate financial strength into market share gains.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

82.0

Growth Profile

74.0

Moat Durability⚠

60.7

Management Effectiveness

55.7

Diversification & Resilience

45.0

Market Position

44.0

Weakest dimension: Market Position (44.0)

◆ KVI Value Dimensions

DCF Margin of Safety

52.2

FCF Yield & Cash Returns

51.6

Relative Valuation

50.5

Growth-Adjusted Value

52.5

Historical Valuation

70.2

Macro Context

77.4

◆ DCF Valuation Scenarios

Bear Case

$10.52

Base Case

$19.74

Bull Case

$32.15

Price at Analysis

$17.88

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$10.52	4.0%	22.0%	11.2%
🟢 Base	$19.74	8.0%	30.0%	10.3%
🟢 Bull	$32.15	12.0%	36.0%	9.5%

Key Assumptions: CDE experienced a dramatic revenue surge in the most recent year ($2.07B) likely driven by elevated gold/silver prices and the Hecla-like acquisition activity, following years of sub-$1B revenue with negative margins. Base case assumes revenue moderates from the peak but sustains above historical levels with 8% CAGR off a normalized ~$1.5B starting base, with operating margins recovering to 30% as mine development capex normalizes. WACC reflects gold mining sector risk with beta of 1.19 and a 5.5% equity risk premium; tax rate normalized to 18% given historical volatility and mining-specific deductions.

◆ Financial Snapshot

Profitability

Gross Margin50.6%

Operating Margin35.0%

Net Margin28.3%

ROIC13.9%

ROE-4.6%

Balance Sheet

Balance SheetCR: 2.00

Cash ConversionFCF/EPS: 1.14x

Capital IntensityCapex/Rev: 10.7%

Altman Z-Score5.64 (Safe)

Piotroski F-Score7/9 (Good)

Growth

Revenue CAGR25.6% CAGR

Earnings CAGR119.6% CAGR

Growth ConsistencyCV: 1.63

Segment Breadth2/2 growing (100%)

Quarterly TrendRev∆, Margin↑, WC↓, Exp↓

Earnings CredibilityMixed

◆ Analyst Consensus & Leadership

Leadership & Governance

CEO Ownership< 1%

Compensation86% performance-based

Insider ActivityNeutral

Capital AllocationROIC 13.9% vs WACC 6.7%

Earnings Beat Rate34% (7/22)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted April 5, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.