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Metal fabrication · Industrials · Fiscal year ends Dec 31
Crane NXT reported revenue of $1.7B in the fiscal year ended Dec 2025, up 11.4% from the year before. Operating income was $247M, an operating margin of 14.9%, and net income was $145M. Operating cash flow of $242M less capital expenditure of $43M left free cash flow of $198M. Net debt was $906M.
Ranks among the 7 metal fabrication companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,345 | 1,340 | 1,391 | 1,487 | 1,657 |
| Cost of revenue | 746 | 714 | 737 | 822 | 953 |
| Gross profit | 1,241 | 626 | 654 | 665 | 704 |
| Research & development | 33.2 | 33.9 | 42.8 | 39.5 | 46.0 |
| Selling, general & admin | 323 | 319 | 367 | 386 | 440 |
| Operating income | 279 | 301 | 287 | 269 | 247 |
| Interest expense | 46.9 | 52.2 | – | – | – |
| Pre-tax income | 226 | 248 | 240 | 226 | 181 |
| Income tax | 48.1 | 43.4 | 51.5 | 42.3 | 35.9 |
| Net income | 178 | 205 | 188 | 184 | 145 |
| Diluted EPS | 3.14 | 3.61 | 3.28 | 3.19 | 2.50 |
| Diluted shares | 56.7 | 56.7 | 57.5 | 57.8 | 58.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 479 | 231 | 227 | 166 | 234 |
| Receivables | 483 | 205 | 215 | 266 | 352 |
| Inventory | 449 | 146 | 157 | 145 | 170 |
| Current assets | 1,543 | 623 | 644 | 643 | 853 |
| Net PP&E | 556 | 262 | 261 | 272 | 304 |
| Goodwill | 861 | 837 | 841 | 957 | 1,164 |
| Total assets | 4,487 | 2,129 | 2,129 | 2,387 | 3,116 |
| Payables | 274 | 110 | 107 | 117 | 132 |
| Deferred revenue | 101 | 93.6 | 92.5 | 71.4 | 87.3 |
| Current liabilities | 789 | 631 | 334 | 562 | 569 |
| Short-term debt | 0.0 | 300 | 4.6 | 210 | 135 |
| Long-term debt | 842 | 544 | 640 | 541 | 1,004 |
| Total liabilities | 2,652 | 1,346 | 1,165 | 1,322 | 1,860 |
| Shareholders' equity | 764 | 784 | 964 | 1,065 | 1,253 |
| Backlog (remaining obligations) | 1,256 | 1,564 | 460 | 394 | 493 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 277 | 306 | 276 | 214 | 242 |
| Capital expenditure | 18.6 | 21.3 | 31.1 | 45.4 | 43.2 |
| Free cash flow | 258 | 285 | 245 | 169 | 198 |
| Depreciation & amortisation | 81.8 | 78.7 | 77.6 | 86.8 | 107 |
| Stock-based compensation | 8.6 | 9.3 | 10.3 | 10.6 | 12.7 |
| Acquisitions | 0.0 | 0.0 | 0.0 | 270 | 391 |
| Share buybacks | 96.3 | 204 | – | – | – |
| Dividends paid | 0.0 | 0.0 | 23.7 | 36.6 | 39.0 |
| Dividend per share | 1.72 | 1.88 | 0.42 | 0.64 | 0.68 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −0.4% | 3.8% | 6.9% | 11.4% |
| Operating income growth (YoY) | – | 7.9% | −4.8% | −6.3% | −8.2% |
| EPS growth (YoY) | – | 15.0% | −9.1% | −2.7% | −21.6% |
| Gross margin | 92.3% | 46.7% | 47.0% | 44.7% | 42.5% |
| Operating margin | 20.8% | 22.5% | 20.6% | 18.1% | 14.9% |
| Net margin | 13.2% | 15.3% | 13.5% | 12.4% | 8.8% |
| Return on equityBlank when equity is negative | 23.3% | 26.1% | 19.5% | 17.3% | 11.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 7.6% | 20.1% | 16.0% | 14.7% | 9.7% |
| Free cash flow margin | 19.2% | 21.2% | 17.6% | 11.3% | 12.0% |
| Cash conversion (CFO ÷ net income) | 1.56x | 1.49x | 1.47x | 1.16x | 1.66x |
| Receivable days | 131 | 56 | 56 | 65 | 78 |
| Inventory days | 220 | 74 | 78 | 64 | 65 |
| Payable days | 134 | 56 | 53 | 52 | 51 |
| Interest cover | 5.95x | 5.77x | – | – | – |
| Debt ÷ equity | 1.10x | 1.08x | 0.67x | 0.70x | 0.91x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 364 | 613 | 418 | 585 | 906 |
| Current ratio | 1.96x | 0.99x | 1.93x | 1.14x | 1.50x |
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.