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Crane NXT is a premier industrial technology company that provides proprietary and trusted technology solutions to secure, detect, and authenticate what matters most to its customers. The company is a pioneer in advanced, proprietary micro-optics technology for securing physical products, as well as digital authentication, and its sophisticated electronic equipment and associated software lever…
14.89% operating margin is respectable but not wide. ROIC at 9.71%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 11.4%, still solid. Margins contracted 3.2pp, which offsets some of the top-line progress.
ROIC dropped from 12.81% to 9.71%, capital efficiency is deteriorating. Net debt of $976M represents 4.9x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.71B
▲ +11.4% YoY
Net Income (TTM)
$130M
▼ -21.2% YoY
Op. Margin
13.51%
▼ -3.2pp YoY
ROIC
8.11%
▼ -3.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$206M
▲ +17.5% YoY
Op. Cash Flow (TTM)
$247M
▲ +12.8% YoY
Net Debt
$1.29B
Cash & Equiv.
$228M
5Y CAGR: -10.8%
5Y CAGR: -6.4%
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