A Look at Cadeler (OB:CADLR) Valuation Following Major Offshore Wind Contract Wins

Cadeler (OB:CADLR) has secured two significant contracts for the transportation and installation of offshore wind turbines and their foundations, together valued at around EUR 500 million. This move meaningfully strengthens the company's order book and highlights its expanding role in offshore wind.

See our latest analysis for Cadeler.

Cadeler’s new contracts and growing UK presence follow a challenging year for the stock, with a 1-year total shareholder return of -30.73% and the share price down 29% year-to-date. While the recent wins hint at momentum building in the business, the long-term 3-year total shareholder return of nearly 37% still points to underlying growth potential.

If Cadeler’s latest wins have you watching the renewable energy space, it could be the perfect moment to broaden your search and discover fast growing stocks with high insider ownership

With new contracts adding to its backlog and shares still well below analyst targets, investors are left to consider whether Cadeler offers a rare undervalued entry point, or if the market is already taking potential future growth into account.

Most Popular Narrative: 51% Undervalued

Cadeler’s narrative from Mandelman suggests a fair value that far exceeds the current share price, reflecting a potential mispricing by the market. With robust sector trends and company milestones in play, this perspective offers a bold case for a re-rating.

• Fleet expansion: Cadeler operates 7 wind installation vessels as of mid-2025 and is on track to expand its fleet to 11 vessels by the end of 2027. This enables it to meet increasing global demand while also increasing utilization on the existing fleet.

Read the complete narrative.

What is the secret sauce behind this massive valuation gap? The key ingredients include a major ramp-up in fleet size, rapid industry growth, and a profit multiple that rivals high-flying sectors. Want to see exactly which assumptions fuel this optimistic price? The answers lie one click away.

Result: Fair Value of $95.36 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, ongoing fleet expansion delays or integration challenges after the Eneti merger could quickly change the bullish outlook if these issues are not well managed.

Find out about the key risks to this Cadeler narrative.

Build Your Own Cadeler Narrative

If you have a different viewpoint or want to dig into the numbers yourself, you can build your own Cadeler narrative in just a few minutes. Do it your way

A great starting point for your Cadeler research is our analysis highlighting 5 key rewards and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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