Conrad Industries, Inc. (CNRD) Stock Analysis

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• A 9-signal quantitative MoonshotScore built from filings, insider activity, and market data — computed from the numbers, not from opinion.
• An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
• Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.

Conrad Industries, Inc. (CNRD) Industrial Operations Profile

Conrad Industries, Inc., established in 1948, focuses on constructing, converting, and repairing steel and aluminum marine vessels for diverse applications. With a market capitalization of $143M and a P/E ratio of 8.58, the company operates within the aerospace and defense sector, serving both inland and offshore maritime needs.

What Is the Investment Thesis for CNRD?

Conrad Industries, Inc. presents a focused investment opportunity within the marine vessel construction and repair sector. With a market capitalization of $143M and a P/E ratio of 8.58, the company demonstrates potential value. A gross margin of 12.3% and a profit margin of 4.5% indicate areas for operational improvement. Growth catalysts include increasing demand for specialized barges and offshore support vessels. The company's ability to secure new contracts and efficiently manage projects will be critical for sustained growth. Potential risks include fluctuations in raw material costs and competition within the marine construction industry. Monitoring the company's order backlog and project execution will be crucial for assessing its long-term prospects.

Based on FMP financials and quantitative analysis

CNRD Key Highlights

Market capitalization of $143M indicates the company's current valuation in the market.

• P/E ratio of 8.58 suggests the stock may be undervalued compared to its earnings.
• Gross margin of 12.3% reflects the company's efficiency in managing production costs.
• Profit margin of 4.5% indicates the percentage of revenue that translates into profit after all expenses.
• Beta of 0.61 suggests the stock is less volatile than the overall market.

Who Are CNRD's Competitors?

CNRD is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance This table mixes two scoring engines — compare a number only with others carrying the same tag.

What Are CNRD's Key Strengths?

Diversified product offerings.

• Experienced workforce.
• Established relationships with key customers.
• Strong presence in the U.S. marine vessel market.

What Are CNRD's Weaknesses?

Reliance on cyclical industries.

• Exposure to fluctuations in raw material costs.
• Limited geographic diversification.
• Lower gross margin compared to some competitors.

What Could Drive CNRD Stock Higher?

Infrastructure spending bills may increase demand for inland waterway vessels.

• Increasing demand for offshore wind energy support vessels.
• Potential new contracts for specialized barge construction.
• Expansion of the aquaculture industry driving demand for specialized vessels.

What Are the Key Risks for CNRD?

Fluctuations in raw material costs, such as steel and aluminum.

• Economic downturns affecting demand for marine vessels.
• Increased competition from other marine vessel construction companies.
• Changes in government regulations impacting the marine industry.
• Dependence on cyclical industries, such as oil and gas.

What Are the Growth Opportunities for CNRD?

• Expansion into Offshore Wind Support Vessels: The growing offshore wind energy sector presents a significant opportunity for Conrad Industries. As wind farms are developed further offshore, there's an increasing need for specialized vessels for construction, maintenance, and crew transfer. Conrad Industries can leverage its expertise in building offshore support vessels to capture a portion of this market. The global offshore wind market is projected to reach $56.8 billion by 2026, offering a substantial revenue stream.
• Increased Demand for LNG Barges: With the rising global demand for liquefied natural gas (LNG), the need for LNG transport barges is also increasing. Conrad Industries can capitalize on this trend by expanding its production of specialized LNG barges. The global LNG market is expected to grow at a CAGR of 6.4% from 2021 to 2028, driven by increasing energy demand and environmental concerns favoring cleaner fuels.
• Modernization of Inland Waterway Infrastructure: The aging infrastructure of inland waterways in the United States requires modernization and upgrades, creating opportunities for Conrad Industries to build and repair vessels used for transportation and construction. Government initiatives and funding for infrastructure projects can drive demand for the company's services. The U.S. inland waterways system handles over 600 million tons of cargo annually, highlighting the importance of maintaining and upgrading its infrastructure.
• Growth in the Aquaculture Industry: The expanding aquaculture industry requires specialized vessels for fish farming, harvesting, and transportation. Conrad Industries can design and construct vessels tailored to the specific needs of aquaculture operations. The global aquaculture market is projected to reach $285.4 billion by 2027, driven by increasing demand for seafood and sustainable food production practices.
• Development of Autonomous Vessels: The emergence of autonomous vessel technology presents a long-term growth opportunity for Conrad Industries. As autonomous technology matures, there will be a demand for new vessels designed to operate autonomously or for retrofitting existing vessels with autonomous systems. Conrad Industries can invest in research and development to position itself as a leader in the construction of autonomous marine vessels. The autonomous shipping market is expected to reach $10.1 billion by 2030, driven by the potential for increased efficiency and reduced operating costs.

What Are CNRD's Competitive Advantages?

• Established reputation and experience in the marine vessel construction industry.
• Diversified product offerings catering to various sectors.
• Specialized expertise in building custom vessels.
• Long-standing relationships with key customers and suppliers.

What Does CNRD Do?

Founded in 1948, Conrad Industries, Inc. has evolved into a key player in the U.S. marine vessel construction, conversion, and repair industry. Headquartered in Morgan City, Louisiana, the company's operations encompass a wide range of steel and aluminum vessels tailored to meet the demands of various sectors. Conrad Industries constructs harbor tugs, specialty barges (including crane, deck, ABS class, dry bulk cargo, aggregate, and well stim barges), inland tank barges (LPG inland tank, LPG pressure, LPG tank, and DS tank barges), and diverse offshore support vessels such as liftboats, crew boats, offshore supply vessels, and offshore tugs. In addition to these core offerings, Conrad Industries also builds inland pushboats, comprising inland towboats and river push boats, as well as passenger and vehicle ferries. The company's repair and conversion services include electrical, mechanical, propulsion, and hull repairs, catering to large-scale vessel modifications. Furthermore, Conrad Industries engages in the fabrication of modular components for offshore floating production, storage, and offloading vessels, alongside components for drilling rigs. This diversified portfolio allows Conrad Industries to serve a broad spectrum of maritime needs, solidifying its position in the industry.

What Products and Services Does CNRD Offer?

• Constructs harbor tugs for port operations.
• Builds specialty barges, including crane, deck, and tank barges.
• Manufactures inland pushboats and towboats for river transportation.
• Produces offshore support vessels like liftboats and crew boats.
• Offers vessel repair and conversion services.
• Fabricates modular components for offshore floating production and drilling rigs.
• Constructs passenger and vehicle ferries.

How Does CNRD Make Money?

• Contract-based construction of new marine vessels.
• Repair and conversion services for existing vessels.
• Fabrication of modular components for offshore projects.
• Revenue generated from both government and private sector contracts.

What Industry Does CNRD Operate In?

Conrad Industries operates within the aerospace and defense industry, specifically focusing on marine vessel construction and repair. The industry is influenced by factors such as global trade, energy exploration, and infrastructure development. The competitive landscape includes companies specializing in shipbuilding, vessel maintenance, and offshore support services. Conrad Industries differentiates itself through its diversified product offerings and focus on both inland and offshore vessels. The industry is expected to see steady growth driven by increasing demand for maritime transportation and offshore energy activities.

Who Are CNRD's Key Customers?

• Companies in the offshore oil and gas industry.
• Inland waterway transportation companies.
• Government agencies requiring marine vessels.
• Companies in the aquaculture industry.
• Ferry operators.

Conrad Industries, Inc. (CNRD) Valuation Context

Valued at $143M, CNRD is classified as a micro-cap stock. Relative to its peer group, CNRD's quantitative score of 51/100 is roughly in line with the peer average of 59/100.

CNRD Revenue & Earnings Trend

In Q2 FY2026, CNRD generated $68.6M in top-line revenue, marking a sequential decrease of 1.0%. The company recorded net income of $3.3M, with diluted EPS of $0.65. Revenue has contracted over three consecutive quarters, which investors in this micro-cap Industrials stock should monitor closely. Across the four most recent quarters, CNRD averaged $0.83 in diluted EPS.

Company Profile

Conrad Industries, Inc. operates in the Aerospace & Defense industry within the Industrials sector. It is headquartered in Morgan City, US. The company is led by CEO Cecil A. Hernandez. CNRD has traded publicly since 2000.

Return on equity for Conrad Industries, Inc. stands at 19.5%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 12.7%, showing how much profit it generates from its asset base. CNRD trades at a trailing price-to-earnings ratio of 8.58, below the Industrials sector average of ~28.00x. Its free cash flow yield is -3.6%, a gauge of the cash the business throws off relative to its market value. A current ratio of 2.43 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 15.2%, the inverse of the P/E and a quick read on earnings relative to price.

Conrad Industries, Inc.'s Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 6.06 places it in the safe zone, indicating low near-term bankruptcy risk.

The most recent 2 insider filings for Conrad Industries, Inc. break down as 0 sales and 2 purchases. On net that is roughly 19K shares acquired (about $52K) — insiders putting money in tends to read as conviction.

CNRD Financials

CNRD Latest News

CNRD Analyst Consensus

CNRD MoonshotScore

What Investors Ask About Conrad Industries, Inc. (CNRD) — Industrials

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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