Crane
CR · NYSEMiscellaneous Fabricated Metal Products · Fiscal year ends Dec 31
Crane reported revenue of $2.3B in the fiscal year ended Dec 2025, up 8.2% from the year before. Operating income was $424M, an operating margin of 18.4%, and net income was $367M. Net debt was $642M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $2.1B | $1.8B | $1.9B | $2.1B | $2.3B |
| Cost of revenue | $1.4B | $1.1B | $1.1B | $1.3B | $1.3B |
| Gross profit | $689M | $661M | $751M | $868M | $973M |
| Research & development | $50M | $48M | $55M | $46M | $48M |
| Selling, general & admin | $467M | $494M | $501M | $512M | – |
| Operating income | $222M | $5M | $250M | $356M | $424M |
| Interest expense | $5M | $10M | $23M | $27M | $11M |
| Pre-tax income | $234M | $237M | $233M | $339M | $433M |
| Income tax | $36M | $70M | $57M | $70M | $101M |
| Net income | $435M | $401M | $256M | $295M | $367M |
| Diluted EPS | 7.36 | 7.01 | 4.45 | 5.05 | 6.26 |
| Diluted shares | 59M | 57M | 58M | 58M | 59M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $377M | $427M | $330M | $307M | $507M |
| Receivables | – | $270M | $298M | $339M | $359M |
| Inventory | – | $294M | $344M | $380M | $377M |
| Current assets | – | $1.8B | $1.1B | $1.4B | $2.6B |
| Net PP&E | – | $248M | $245M | $261M | $279M |
| Goodwill | $723M | $520M | $576M | $662M | $684M |
| Total assets | – | $4.4B | $2.4B | $2.6B | $3.9B |
| Payables | – | $179M | $157M | $188M | $190M |
| Deferred revenue | – | $49M | $56M | $36M | $46M |
| Current liabilities | – | $1.5B | $467M | $543M | $465M |
| Short-term debt | – | $400M | $0 | $0 | $0 |
| Long-term debt | – | $0 | $249M | $247M | $1.1B |
| Total liabilities | – | $2.5B | $973M | $1B | $1.8B |
| Shareholders' equity | $1.8B | $1.9B | $1.4B | $1.6B | $2.1B |
| Backlog (remaining obligations) | – | – | $1.1B | $1.2B | $1.4B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $185M | −$499M | $162M | $258M | $395M |
| Depreciation & amortisation | $38M | $34M | $35M | $51M | $50M |
| Stock-based compensation | $22M | $21M | $26M | $26M | $27M |
| Acquisitions | $0 | $0 | $91M | $201M | $200,000 |
| Share buybacks | $96M | $204M | $0 | – | – |
| Dividends paid | $101M | $106M | $57M | $47M | $53M |
| Dividend per share | 1.72 | 1.88 | 1.01 | 0.82 | 0.92 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −13.9% | 4.8% | 14.5% | 8.2% |
| Operating income growth (YoY) | – | −97.6% | 4624.5% | 42.1% | 19.2% |
| EPS growth (YoY) | – | −4.8% | −36.5% | 13.5% | 24.0% |
| Gross margin | 33.4% | 37.2% | 40.3% | 40.7% | 42.2% |
| Operating margin | 10.7% | 0.3% | 13.4% | 16.7% | 18.4% |
| Net margin | 21.1% | 22.6% | 13.7% | 13.8% | 15.9% |
| Return on equityBlank when equity is negative | 23.7% | 21.1% | 18.8% | 18.0% | 17.8% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 0.2% | 13.3% | 17.0% | 12.5% |
| Cash conversion (CFO ÷ net income) | 0.43x | −1.24x | 0.63x | 0.87x | 1.08x |
| Receivable days | – | 55 | 58 | 58 | 57 |
| Inventory days | – | 96 | 113 | 110 | 103 |
| Payable days | – | 59 | 52 | 54 | 52 |
| Interest cover | 45.2x | 0.52x | 11.0x | 13.1x | 37.5x |
| Debt ÷ equity | – | 0.21x | 0.18x | 0.15x | 0.56x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | −$27M | −$81M | −$60M | $642M |
| Current ratio | – | 1.18x | 2.34x | 2.58x | 5.53x |
Recent filings
More in Miscellaneous Fabricated Metal Products
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.