CRCrane Co

Miscellaneous Fabricated Metal Products

Revenue: $2.3B; 8.2% YoY
Operating margin: 18.4%; 10% YoY
EBITDA: $474M; 17% YoY
Market cap: $11.5B
Employees: 4,100; $562K revenue each
Net debt / EBITDA: 1.8×; $833M net debt
AI in 10-K: 0.0; mentions per 10K words

Takeover score 1 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
108% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
13% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
33% of assets
Over 40% of assets
Shareholder dissentNo
98% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
$562K · 74th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.0 per 10K words · 0th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
1.8× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$11.5B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$250K net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$2.1B	$1.8B	$1.9B	$2.1B	$2.3B	8.2%
Operating income	$222M	$5M	$250M	$356M	$424M	19%
Net income	$435M	$401M	$256M	$295M	$367M	24%
Operating cash flow	$185M	−$499M	$162M	$258M	$395M	53%
Stock-based comp	$22M	$21M	$26M	$26M	$27M	6.3%
Buybacks	$96M	$204M	$0	—	—
Dividends	$101M	$106M	$57M	$47M	$53M	13%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $1M · 6
Open-market sells, 12 mo: $764K · 3
Net: $250K

Pay vs performance

No pay-versus-performance disclosure yet.