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olivLaw · US equity research

Crane Company CR

Miscellaneous Fabricated Metal Products · SIC 3490 · Vertical: Miscellaneous Fabricated Metal Products (SIC 3490)

206.38USD−0.15% · 1 dayClose 04 Nov 2026

Crane Company manufactures highly engineered components for aerospace, defense, space and process industry markets, organized in two reporting segments. Record aerospace demand and recent acquisitions including Druck and optek-Danulat are the focus of investor interest now.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Crane Company (CR) stock was 206.38 USD (−0.15% on the day), with market capitalisation 11.9 bn USD, P/E 35.4 on diluted EPS of 5.82 USD over the last 12 months, dividend yield 0.48%, beta 1.32, 52-week range 160.86–226.44 USD. Latest reported quarter (Q3 2026): revenue of 754.6 m USD (+28.1% YoY), net income of 97.3 m USD (+6.5% YoY), diluted EPS 1.66 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
11.9 bn USD
shares as of 27 Oct 2026
P/E (TTM)
35.4
Diluted EPS TTM 5.82 · TTM to 30 Sept 2026
E/P (TTM)
2.82%
TTM to 30 Sept 2026
Dividend yield
0.48%
DPS 12m 1.00
Beta (2y)
1.32
Volatility (1y) 34%
52-week range
160.86226.44

Price history

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Technical reading

RSI (14)
54.6
neutral
Bollinger (20, 2)
187.56 – 214.18
in the upper half of the band · %B 0.71 · band width 13.3%
SMA 50 / 200
202.37 / 197.93
uptrend (price > SMA50 > SMA200)
MACD (12, 26, 9)
-0.30 / -1.48
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−1.5%−1.1%−0.4 pp—
3 months−7.5%−0.5%−7.0 pp—
6 months+13.6%+4.4%+9.2 pp—
Year to date+11.9%+12.3%−0.4 pp—
1 year+9.7%+13.5%−3.9 pp+5.6%
3 years+106.4%+76.4%+30.0 pp+76.9%
5 yearsunavailable+63.7%unavailable—
Max drawdown (1y)
−23.5%
21 Jan 2026 → 30 Mar 2026
Max drawdown (5y)
−28.2%
26 Nov 2024 → 08 Apr 2025
Compound annual growth (5y)
unavailable
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q3 2026 · 30 Sept 2026

Revenue
754.6 m USD
+28.1% YoY
Net income
97.3 m USD
+6.5% YoY
Diluted EPS
1.66
+6.4% YoY
net / operating
12.9% / 18.6%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue544.1 m557.6 m577.2 m589.2 m581.0 m696.4 m724.7 m754.6 m
Cost of revenue321.6 m320.0 m334.9 m337.9 m339.4 m415.1 m417.2 m440.0 m
Gross profit222.5 m———————
SG&A120.8 m136.5 m——————
Operating income86.2 m101.1 m102.9 m118.4 m101.8 m100.1 m144.3 m140.6 m
Depreciation & amortisation13.5 m12.5 m13.1 m12.2 m12.4 m28.1 m27.4 m26.8 m
Interest expense5.3 m4.5 m4.3 m1.0 m1.5 m16.8 m16.6 m13.7 m
Pre-tax income85.9 m98.8 m104.6 m120.4 m109.0 m85.1 m128.0 m126.2 m
Income tax15.6 m20.5 m24.3 m29.0 m27.3 m18.0 m32.1 m28.9 m
Net income81.0 m107.1 m86.4 m91.4 m81.7 m67.1 m95.9 m97.3 m
Diluted EPS1.381.831.471.561.39 ≈1.141.631.66
Operating cash flow—-46.2 m105.0 m ≈130.2 m ≈—-29.5 m122.3 m ≈128.4 m ≈
Dividends paid11.8 m13.2 m13.2 m ≈13.3 m ≈13.2 m14.7 m14.7 m ≈14.7 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 87 percentile of its own 15-quarter history (min 10.6, median 30.0, max 39.0; quarters with earnings only).

Fiscal years

Fiscal year20212022202320242025
Revenue2.1 bn1.8 bn1.9 bn2.1 bn2.3 bn
Revenue YoYunavailable−13.9%+4.8%+14.5%+8.2%
Net income435.4 m401.1 m255.9 m294.7 m366.6 m
Net income YoYunavailable−7.9%−36.2%+15.2%+24.4%
Diluted EPS7.367.014.455.056.26
Diluted EPS YoYunavailable−4.8%−36.5%+13.5%+24.0%
net %21.1%22.6%13.7%13.8%15.9%
Free cash flowunavailableunavailableunavailableunavailableunavailable

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
506.5 m USD
Financial debt
1.1 bn USD
Net debt
641.7 m USD
Equity
2.1 bn USD
Total assets
3.9 bn USD
Debt / equity
0.56x
Current ratio
5.53x
ROE
19.8%
ROA
11.3%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
1.9 bn
2024
2.1 bn
2025
2.3 bn

SEC (XBRL)· 26 Feb 2026verified

Cost of revenue
2023
1.1 bn
2024
1.3 bn
2025
1.3 bn

SEC (XBRL)· 26 Feb 2026verified

Gross profit
2023
751.0 m
2024
867.8 m
2025
972.8 m ≈

SEC (XBRL)· 26 Feb 2026derived

Research & development
2023
54.8 m
2024
46.1 m
2025
47.8 m

SEC (XBRL)· 26 Feb 2026verified

SG&A
2023
500.6 m
2024
512.0 m
2025
—

SEC (XBRL)· 27 Feb 2025verified

Operating income
2023
250.4 m
2024
355.8 m
2025
424.2 m

SEC (XBRL)· 26 Feb 2026verified

Depreciation & amortisation
2023
35.4 m
2024
51.0 m
2025
50.2 m

SEC (XBRL)· 26 Feb 2026verified

EBITDA
2023
285.8 m ≈
2024
406.8 m ≈
2025
474.4 m ≈

SEC (XBRL)· 26 Feb 2026derived

Interest expense
2023
22.7 m
2024
27.2 m
2025
11.3 m

SEC (XBRL)· 26 Feb 2026verified

Pre-tax income
2023
233.1 m
2024
338.5 m
2025
432.8 m

SEC (XBRL)· 26 Feb 2026verified

Income tax
2023
57.2 m
2024
70.3 m
2025
101.1 m

SEC (XBRL)· 26 Feb 2026verified

Net income
2023
255.9 m
2024
294.7 m
2025
366.6 m

SEC (XBRL)· 26 Feb 2026verified

Diluted EPS
2023
4.45
2024
5.05
2025
6.26

SEC (XBRL)· 26 Feb 2026verified

Weighted average diluted shares
2023
57.5 m
2024
58.3 m
2025
58.6 m

SEC (XBRL)· 26 Feb 2026verified

Dividend per share
2023
1.01
2024
0.82
2025
0.92

SEC (XBRL)· 26 Feb 2026verified

Balance sheet · USD

Cash
2023
329.6 m
2024
306.7 m
2025
506.5 m

SEC (XBRL)· 26 Feb 2026verified

Receivables
2023
297.7 m
2024
339.1 m
2025
358.7 m

SEC (XBRL)· 26 Feb 2026verified

Inventories
2023
343.9 m
2024
380.4 m
2025
376.5 m

SEC (XBRL)· 26 Feb 2026verified

Current assets
2023
1.1 bn
2024
1.4 bn
2025
2.6 bn

SEC (XBRL)· 26 Feb 2026verified

Property, plant & equipment, net
2023
244.5 m
2024
261.3 m
2025
278.8 m

SEC (XBRL)· 26 Feb 2026verified

Goodwill
2023
576.4 m
2024
661.6 m
2025
683.9 m

SEC (XBRL)· 26 Feb 2026verified

Intangibles (excl. goodwill)
2023
87.1 m
2024
159.9 m
2025
149.5 m

SEC (XBRL)· 26 Feb 2026verified

Total assets
2023
2.4 bn
2024
2.6 bn
2025
3.9 bn

SEC (XBRL)· 26 Feb 2026verified

Accounts payable
2023
156.9 m
2024
188.2 m
2025
189.6 m

SEC (XBRL)· 26 Feb 2026verified

Short-term debt
2023
0
2024
0
2025
0

SEC (XBRL)· 30 Apr 2026verified

Long-term debt
2023
248.5 m
2024
247.0 m
2025
1.1 bn

SEC (XBRL)· 26 Feb 2026verified

Current liabilities
2023
467.1 m
2024
543.4 m
2025
465.2 m

SEC (XBRL)· 26 Feb 2026verified

Total liabilities
2023
973.3 m
2024
1.0 bn
2025
1.8 bn

SEC (XBRL)· 30 Apr 2026verified

Equity
2023
1.4 bn
2024
1.6 bn
2025
2.1 bn

SEC (XBRL)· 26 Feb 2026verified

Cash flow · USD

Financing cash flow
2023
-423.2 m
2024
-49.7 m
2025
838.8 m

SEC (XBRL)· 26 Feb 2026verified

Dividends paid
2023
57.3 m
2024
46.9 m
2025
52.9 m

SEC (XBRL)· 26 Feb 2026verified

Share repurchases
2023
0
2024
—
2025
—

SEC (XBRL)· 26 Feb 2024verified

Computed indicators

Growth

Revenue growth (YoY)
8.2%
computed by olivLawFY 2025
Revenue CAGR 3Y
9.1%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
19.2%
computed by olivLawFY 2025
Net income growth (YoY)
24.4%
computed by olivLawFY 2025
Net income CAGR 3Y
-3.0%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
24.0%
computed by olivLawFY 2025
EPS CAGR 3Y
-3.7%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
41.5%
computed by olivLawTTM to 30 Sept 2026
EBITDA margin
21.1%
computed by olivLawTTM to 30 Sept 2026
EBIT margin
17.7%
computed by olivLawTTM to 30 Sept 2026
Net margin
12.4%
computed by olivLawTTM to 30 Sept 2026
FCF margin
unavailable
input data missing

Returns

ROE
16.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROA
10.5%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROIC
16.6%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROCE
14.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Payout ratio (EPS)
17.1%
computed by olivLawTTM to 30 Sept 2026
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
612.8 m USD
computed by olivLawbalance sheet at 30 Sept 2026
Net debt / EBITDA
1.1x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Debt / equity
0.4x
computed by olivLawbalance sheet at 30 Sept 2026
Interest coverage
10.0x
computed by olivLawTTM to 30 Sept 2026

Liquidity

Current ratio
2.6x
computed by olivLawbalance sheet at 30 Sept 2026
Quick ratio
1.7x
computed by olivLawbalance sheet at 30 Sept 2026
Cash ratio
0.6x
computed by olivLawbalance sheet at 30 Sept 2026

Cash

Operating cash flow
unavailable
input data missing
Capital expenditure
unavailable
input data missing
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
60 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Days inventory outstanding
103 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Days payables outstanding
41 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Cash conversion cycle
122 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026

Market and valuation

Market capitalisation
11.9 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Enterprise value
12.5 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Market cap / net income TTM
34.9x
computed by olivLawTTM to 30 Sept 2026
P/E (TTM)
35.4x
computed by olivLawTTM to 30 Sept 2026
Earnings yield
2.8%
computed by olivLawTTM to 30 Sept 2026
P/B
5.3x
computed by olivLawbalance sheet at 30 Sept 2026
P/S
4.3x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/EBITDA
21.6x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/EBIT
25.8x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/Sales
4.6x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
0.5%
computed by olivLawTTM to 30 Sept 2026
Shareholder yield (distributions)
0.5%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026

Risk

Altman Z
6.12
computed by olivLawbalance sheet at 30 Sept 2026

Valuation

olivLaw classification

Neutral profile

Score: 43 / 100

A scoring methodology on indicators and valuation, not investment advice.

Closing price

206.38 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 11.9 bn USD

Key indicators

Market capitalisation
11.9 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
P/E (TTM)
35.4x
computed by olivLawTTM to 30 Sept 2026
P/B
5.3x
computed by olivLawbalance sheet at 30 Sept 2026
EV/EBITDA
21.6x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROE
16.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Net margin
12.4%
computed by olivLawTTM to 30 Sept 2026
Revenue growth (YoY)
8.2%
computed by olivLawFY 2025
Dividend yield
0.5%
computed by olivLawTTM to 30 Sept 2026

Coverage and freshness

32/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Sept 2026
Latest balance sheet date: 30 Sept 2026
Share count (cover of the latest filing), as of: 27 Oct 2026
Source: SEC (XBRL)published 29 Oct 2026
verified 752derived 37

Score by group

  • Valuation0
  • Balance sheet92
  • Quality53
  • Growth38
  • Returns7

Estimated value range

Low
141.13
USD per share
Mid
148.06
USD per share
High
157.02
USD per share
Price: 206.38 USD
The price is above the range
Potential to the central value: -28.3% (value / price − 1)
Margin of safety: -39.4% (1 − price / value)
Agreement between methods: same comparison basis (not independent confirmations) · 2 methods used · 1 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 107.72 – 182.84 USD.

Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDA107.72 – 131.21 (Mid 115.39)
    3 companies used · median multiple 12.5x · quartiles 11.8x – 14.1x
    CXT, HLIO, MWA
  • Peers: P/E174.54 – 182.84 (Mid 180.74)
    4 companies used · median multiple 31.0x · quartiles 30.0x – 31.4x
    CXT, HLIO, PH, WTS
  • Dividend discount (DDM)outside the aggregate12.09 – 16.26 (Mid 13.87)
    a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Multiple comparisons use the SIC vertical: Miscellaneous Fabricated Metal Products (SIC 3490)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Neutral profile · Score 43/100

FactorValueScoreWeight used
ROIC · Quality16.6%50 (vs peers)13%
Net margin · Quality12.4%57 (vs peers)8%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth9.1%76 (on a fixed band)10%
EPS CAGR 3Y · Growth-3.7%0 (on a fixed band)10%
Net debt / EBITDA · Balance sheet1.1x84 (on a fixed band)13%
Interest coverage · Balance sheet10.0x100 (on a fixed band)8%
Current ratio · Balance sheet2.6x100 (on a fixed band)5%
P/E (TTM) · Valuation35.4x0 (vs peers)13%
EV/EBITDA · Valuation21.6x0 (on a fixed band)13%
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returns0.5%7 (on a fixed band)8%
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet92/100 · 3/3 factors with a value
  • Growth38/100 · 2/2 factors with a value
  • Quality53/100 · 2/3 factors with a value
  • Returns· partial7/100 · 1/2 factors with a value
  • Valuation0/100 · 2/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

CRANE COMPANY (CR). Latest full fiscal year: 2025; data up to 2026-09-30.

Figures computed from the financial statements: revenue 2.3 bn USD in 2025; YoY growth 8.2%; net margin 12.4%; ROE 16.2%; net debt/EBITDA 1.1x.

The estimated value range is 141.13–157.02 USD per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 148.06 USD, the price of 206.38 USD leaves a potential of -28.3% (value / price − 1) and a margin of safety of -39.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 43/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Revenue CAGR 3Y: 9.1%
  • Net debt / EBITDA: 1.1x
  • Interest coverage: 10.0x
  • Current ratio: 2.6x

What contradicts it

  • EPS CAGR 3Y: -3.7%
  • P/E (TTM): 35.4x
  • EV/EBITDA: 21.6x
  • Shareholder yield (distributions): 0.5%
  • The price is above the estimated value range

Not assessed (insufficient data or a ratio without meaning): FCF conversion, FCF yield, Payout ratio (FCF).

Versus the vertical median

Miscellaneous Fabricated Metal Products (SIC 3490) · same industry (4-digit SIC) · compared with 7 companies

Multiples and returns vs the median

P/E
35.4x
vertical median 30.9x
above median (+14.8%)
EV/EBITDA
21.6x
vertical median 12.5x
above median (+72.2%)
P/S
4.3x
vertical median 2.2x
above median (+97.4%)
P/B
5.3x
vertical median 2.5x
above median (+107.7%)
ROE
16.2%
vertical median 10.5%
above median (+54.5%)
Net margin
12.4%
vertical median 8.0%
above median (+54.9%)
EBIT margin
17.7%
vertical median 12.7%
above median (+38.6%)
Revenue YoY
8.2%
vertical median 8.3%
at median
Net debt/EBITDA
1.1x
vertical median 0.5x
above median (+128.4%)
Dividend yield
0.5%
vertical median 1.2%
below median (−58.2%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
PHParker-Hannifin Corporation114.7 bn32.025.1%17.0%+8.3%+6% / +110%
CRCrane Company11.9 bn35.416.2%12.4%+8.2%+10% / +106%
MWAMueller Water Products, Inc.3.8 bn17.021.7%15.0%+8.7%−1% / +81%
CXTCrane Nxt, Co.3.5 bn27.310.5%7.1%+11.4%+9% / +20%
HLIOHelios Technologies, Inc.2.2 bn31.27.7%8.0%unavailable+24% / +74%
ZKINZk International Group Co., Ltd.10.6 m—-15.1%-5.6%−34.2%−25% / +77%
HIHOHighway Holdings Limited3.9 m—-27.3%-31.7%−35.2%−26% / −58%
WTSWatts Water Technologies Inc—30.918.8%14.3%+8.3%+28% / +84%

1- and 3-year price returns: for CR from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
129.54
Total return -37% · Per year -37%
228.54
Total return 11% · Per year 11%
343.59
Total return 67% · Per year 67%
3 years
137.53
Total return -32% · Per year -12%
271.86
Total return 33% · Per year 10%
447.04
Total return 119% · Per year 30%
5 years
146.00
Total return -27% · Per year -6%
323.38
Total return 60% · Per year 10%
581.64
Total return 186% · Per year 23%
What moves the 3-year price the most
  • Exit P/E± 67.96
  • Net margin± 47.57
  • Annual revenue growth± 37.42
  • Annual dilution± 4.00

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (27 Oct 2026 · results).

In brief

Crane Company manufactures highly engineered components for aerospace, defense, space and process industry markets, organized in two reporting segments. Record aerospace demand and recent acquisitions including Druck and optek-Danulat are the focus of investor interest now.

SWOT

Strengths

  • Crane holds a strong position in critical engineered components, with proprietary technology and a long record of innovation 1.
  • The company has a diversified portfolio across aerospace and process industries, which reduces reliance on a single sector 1.
  • Operating execution was strong in 2026, with record adjusted margins and acquisitions running ahead of expectations 3.

Weaknesses

  • The company has significant exposure to raw material costs and tariffs, which can compress margins 1.
  • A material share of sales depends on international markets, bringing currency and political risk 1.
  • Debt remains significant, although the company repaid additional amounts after quarter end 3.

Opportunities

  • Rising air traffic and defense spending could support long-term demand at AAT 1.
  • Recent sensor and measurement acquisitions could extend access to pharmaceutical and nuclear markets 12.
  • Recovery of IEEPA tariffs could generate additional income if the refund process proceeds favorably 2.

Threats

  • A drop in aviation demand or defense budgets could reduce orders and sales 1.
  • Supply chain disruptions can delay production and raise costs 1.
  • Geopolitical and international trade risks, including regional conflicts, can affect customers and suppliers 12.

Risks

  • Supply chainhigh

    Shortages or delays in components can halt operations and affect deliveries, especially at AAT 1.

  • Costs and tariffshigh

    Rising raw material prices and tariffs could compress margins if they cannot be passed on to customers 1.

  • Currency and international exposuremedium

    A high share of sales outside the US exposes the company to currency swings and political instability 1.

  • Acquisition integrationmedium

    Integrating acquired businesses can bring unplanned costs and delay expected synergies 1.

  • Cybersecuritylow

    Cyber attacks could affect order systems, customer data and operational continuity 1.

Investment thesis

What would need to be true (bull case)

  • If aerospace demand stays strong, the AAT segment could keep growing above the market average, supported by key programs and aftermarket parts 13.
  • Recent acquisitions could add growth and higher margins if integration follows plan, as indicated by results at the end of the second quarter of 2026 3.
  • If tariff recoveries materialize in full, results could benefit from unexpected income, although these amounts remain uncertain 2.

What would break the thesis

  • If raw material costs and tariffs keep rising, margins could come under pressure even as sales grow 1.
  • Large acquisitions could dilute segment margins, and integration may prove more costly than expected 23.
  • If demand in chemicals and other process markets stays weak, PFT growth could remain limited 23.

What to watch

  • Evolution of adjusted EPS guidance and core growthQ3 2026
  • IEEPA tariff refund process and effect on cost of sales2026
  • Druck integration and AAT segment marginQ3 2026
  • Debt level after additional repaymentsnext 10-Q

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (27 Oct 2026 · results).

The business

Crane Company, founded in 1855, designs and manufactures engineered components for mission-critical applications in aerospace, defense, space and process industries. The company has two segments, Aerospace & Advanced Technologies (AAT) and Process Flow Technologies (PFT), and its strategy relies on proprietary technology, vertical expertise and complementary acquisitions 1. Net sales reached 2305.0 million USD in 2025, up 8.2% 1.

Beyond organic development, Crane is reshaping its portfolio through acquisitions: on January 1, 2026 it completed the purchase of the Druck, Panametrics and Reuter-Stokes brands from Baker Hughes and of optek-Danulat 1. These deals expand sensor and measurement capabilities across both segments, and the company has indicated that growth could accelerate if integration proceeds as planned 12.

Crane employed about 7100 people at the end of 2025, and a portion of its US workforce is represented by unions under collective agreements 1. The company completed its separation from Crane NXT in 2023 and remains an independent company listed on the NYSE under the symbol CR 1.

Segments

Aerospace & Advanced Technologies

The AAT segment supplies critical components and systems for original equipment and aftermarket customers, primarily in commercial aerospace, military aerospace, defense and space. Segment sales reached 1048.9 million USD in 2025, with the commercial market representing 61% of sales 1.

Process Flow Technologies

The PFT segment produces fluid handling equipment for critical applications in pharmaceutical, cryogenic, water and wastewater, chemical and general industrial markets. Sales were 1256.1 million USD in 2025 1, and the segment's range now also includes recent optical and measurement acquisitions 12.

Market context

Crane operates in highly competitive markets where demand depends on air traffic, defense spending and industrial investment 1. Roughly 41% of 2025 consolidated sales were generated outside the US, exposing the company to currency and geopolitical risk 1.

For 2026 management guided to total sales growth in the mid-20% range, supported by acquisitions and core growth of 5-6% 23. If aerospace demand stays solid, the AAT segment could keep outpacing its market, although supply chain delays may affect results 12.

Trends

  • Strong aerospace demandtailwind

    Rising commercial aircraft deliveries and air traffic support demand for OEM equipment and aftermarket parts, and AAT reported 13.3% core sales growth in the second quarter of 2026 13. If these trends persist, they could support long-term growth.

  • Acquisitions and integrationmixed

    Integrating Druck, Panametrics, Reuter-Stokes and optek-Danulat could add growth and margin, but guidance indicates temporary dilution to segment margins 23. Success depends on execution.

  • Uneven process industry demandheadwind

    The chemical market remains soft, and process industry demand depends on customer capital spending and raw material prices 12. If weakness persists, organic growth at PFT could stay limited.

Competitive position

The sources do not name competitors, since the company describes its markets as fragmented, with different competitor sets by geography and segment 1. Crane states that it is a principal competitor in most of its markets, competing on quality, technological differentiation, price and service 1.

The company's competitive edge comes from patents, proprietary technology and the ability to innovate in areas such as aerospace electrification and fluid control 1. If competitors gain share on key programs, pricing pressure could increase.

  • Regional and niche aerospace competitors

    The sources do not name competitors; the company mentions several competitors in each geography and segment 1.

  • Valve and pump industry competitors

    PFT markets include valves, pumps and fluid handling systems, with no competitor names given in the source 1.

  • Sensor and measurement instrument suppliers

    Recent acquisitions extended the portfolio into sensors and measurement, a field with specialized competitors not named in the source 12.

  • Landing and braking system suppliers

    The AAT segment competes in braking and landing gear control systems, with no competitor names in the source 1.

News & filings

In the press

SEC filings

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Crane Company · 26 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Crane Company · 31 Jul 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Crane Company · 28 Jul 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.