Crane NXT, Co.

CXT

IndustrialsIndustrial - MachineryNYSE

$45.31

Market Cap: $2.61B

Crane NXT, Co. (CXT) Valuation Summary

Updated May 10, 2026 23:50

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$41.60 – $169.84	$70.09	+54.7%
Growth Exit 10Y	$48.28 – $181.95	$78.33	+72.9%
EBITDA Exit 5Y	$49.98 – $108.44	$76.80	+69.5%
EBITDA Exit 10Y	$53.68 – $119.96	$82.05	+81.1%
▸ Trading Multiples
P/E	$53.64 – $81.06	$88.49	+95.3%
EV/EBITDA	$42.39 – $94.38	$66.01	+45.7%
EV/Revenue	$51.77 – $99.82	$58.93	+30.1%
▸ PEG
PEG Fair Value	$106.75 – $106.75	$106.75	+135.6%
▸ Earnings Power Value
Earnings Power Value	$31.33 – $53.40	$40.27	-11.1%
▸ Dividend Discount
Dividend Discount	$6.92 – $13.55	$8.87	-80.4%

Valuation History

DCF Analysis

Fair Value

$70.09

Market Price

$45.31

Upside / Downside

+54.7%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Crane NXT, Co.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 4.7% to 5.3% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 80, DPO 69, DIO 100). At a 7.9% WACC with mid-year discounting, the terminal value (78% of enterprise value) is derived from the Gordon Growth Model on Year 6 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $70.09 per share, suggesting CXT is undervalued by 54.7% at the current price of $45.31.

FCFF Present Value Calculation

WACC

7.88%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	267	279	285	300	316	324
(−) Net Interest	66	69	70	74	78	80
(+) D&A	39	38	43	47	48	49
EBITDA	372	385	398	421	443	454

(−) Tax	53	55	56	59	62	64
(−) CapEx	47	49	50	53	55	57
(−) ΔWC	59	19	11	26	28	28
Free Cash Flow (FCFF)	213	262	281	283	297	305

Terminal Value						5,658
WACC / Discount Rate	7.9%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	205	234	232	217	211	3,872

Enterprise Value	4,971
Projection Period	1,100	22.1%
Terminal Value	3,872	77.9%

(−) Current Net Debt	906

Equity Value	4,065
(/) Outstanding Shares	58

Fair Price	$70.09

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
5.9%	$94	$106	$121	$141	$170
6.9%	$74	$81	$90	$101	$115
7.9%	$60	$64	$70	$77	$85
8.9%	$49	$53	$57	$61	$67
9.9%	$42	$44	$47	$50	$54

Current price: $45.31. Green = undervalued, Red = overvalued.

Fair Value

$78.33

Market Price

$45.31

Upside / Downside

+72.9%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Crane NXT, Co.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 4.7% to 3.4% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 80, DPO 69, DIO 100). At a 7.9% WACC with mid-year discounting, the terminal value (62% of enterprise value) is derived from the Gordon Growth Model on Year 11 FCFF at a 2.5% perpetual rate. After subtracting net debt, the equity value implies a fair price of $78.33 per share, suggesting CXT is undervalued by 72.9% at the current price of $45.31.

FCFF Present Value Calculation

WACC

7.88%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	267	279	285	300	316	332	347	362	375	388	398
(−) Net Interest	66	69	70	74	78	82	86	89	93	96	98
(+) D&A	39	38	43	47	48	51	53	55	58	61	62
EBITDA	372	385	398	421	443	465	486	506	526	545	558

(−) Tax	53	55	56	59	62	66	69	71	74	77	79
(−) CapEx	47	49	50	53	55	58	61	63	66	68	70
(−) ΔWC	59	19	11	26	28	27	26	25	24	22	23
Free Cash Flow (FCFF)	213	262	281	283	297	314	330	347	363	378	387

Terminal Value											7,198
WACC / Discount Rate	7.9%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	205	234	232	217	211	207	202	196	190	184	3,370

Enterprise Value	5,449
Projection Period	2,078	38.1%
Terminal Value	3,370	61.9%

(−) Current Net Debt	906

Equity Value	4,543
(/) Outstanding Shares	58

Fair Price	$78.33

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
5.9%	$110	$121	$135	$154	$182
6.9%	$86	$92	$100	$110	$123
7.9%	$69	$73	$78	$84	$92
8.9%	$57	$60	$63	$67	$72
9.9%	$48	$50	$52	$55	$58

Current price: $45.31. Green = undervalued, Red = overvalued.

Fair Value

$76.79

Market Price

$45.31

Upside / Downside

+69.5%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Crane NXT, Co.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 4.7% to 5.3% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 80, DPO 69, DIO 100). At a 7.9% WACC with mid-year discounting, the terminal value (79% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 13.7x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $76.80 per share, suggesting CXT is undervalued by 69.5% at the current price of $45.31.

FCFF Present Value Calculation

WACC

7.88%

3% – 20%

EV/EBITDA Exit Multiple

13.72x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	267	279	285	300	316	324
(−) Net Interest	66	69	70	74	78	80
(+) D&A	39	38	43	47	48	49
EBITDA	372	385	398	421	443	454

(−) Tax	53	55	56	59	62	—
(−) CapEx	47	49	50	53	55	—
(−) ΔWC	59	19	11	26	28	—
Free Cash Flow (FCF)	213	262	281	283	297	—

Peers' EBITDA Multiple						13.7x
Terminal Value						6,226
WACC / Discount Rate	7.88%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	205	234	232	217	211	4,260

Enterprise Value	5,360
Projection Period	1,100	20.5%
Terminal Value	4,260	79.5%

(−) Current Net Debt	906
Equity Value	4,454
(÷) Outstanding Shares	58M
Fair Price	$77	+69.5%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	9.7x	11.7x	13.7x	15.7x	17.7x
5.9%	$61	$73	$85	$97	$108
6.9%	$58	$70	$81	$92	$103
7.9%	$55	$66	$77	$88	$98
8.9%	$53	$63	$73	$83	$94
9.9%	$50	$60	$70	$79	$89

Current price: $45.31. Green = undervalued, Red = overvalued.

Based on default parameters

Fair Value

$82.04

Market Price

$45.31

Upside / Downside

+81.1%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Crane NXT, Co.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 4.7% to 3.4% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 80, DPO 69, DIO 100). At a 7.9% WACC with mid-year discounting, the terminal value (63% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 13.7x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $82.05 per share, suggesting CXT is undervalued by 81.1% at the current price of $45.31.

FCFF Present Value Calculation

WACC

7.88%

3% – 20%

EV/EBITDA Exit Multiple

13.72x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	267	279	285	300	316	332	347	362	375	388	398
(−) Net Interest	66	69	70	74	78	82	86	89	93	96	98
(+) D&A	39	38	43	47	48	51	53	55	58	61	62
EBITDA	372	385	398	421	443	465	486	506	526	545	558

(−) Tax	53	55	56	59	62	66	69	71	74	77	—
(−) CapEx	47	49	50	53	55	58	61	63	66	68	—
(−) ΔWC	59	19	11	26	28	27	26	25	24	22	—
Free Cash Flow (FCF)	213	262	281	283	297	314	330	347	363	378	—

Peers' EBITDA Multiple											13.7x
Terminal Value											7,658
WACC / Discount Rate	7.88%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	205	234	232	217	211	207	202	196	190	184	3,586

Enterprise Value	5,664
Projection Period	2,078	36.7%
Terminal Value	3,586	63.3%

(−) Current Net Debt	906
Equity Value	4,759
(÷) Outstanding Shares	58M
Fair Price	$82	+81.1%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	9.7x	11.7x	13.7x	15.7x	17.7x
5.9%	$76	$87	$98	$109	$120
6.9%	$70	$80	$90	$100	$110
7.9%	$64	$73	$82	$91	$100
8.9%	$59	$67	$75	$83	$91
9.9%	$54	$61	$69	$76	$84

Current price: $45.31. Green = undervalued, Red = overvalued.

Based on default parameters

Trading Multiples

Fair Value

$88.49

Market Price

$45.31

Upside / Downside

+95.3%

Verdict

Undervalued

Using the industry peer median P/E Multiples multiple (trailing + forward), Crane NXT, Co. (CXT) has a fair value of $88.49 based on 10 comparable companies in the Industrial - Machinery industry.

P/E Valuation — Industrial - Machinery

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing P/E	Forward P/E
Crane NXT, Co.CXT	2,628	18.1x	10.6x
Schneider National, Inc.SNDR	5,368	51.9x	44.2x
Atmus Filtration Technologies Inc.ATMU	4,540	22.2x	22.7x
CSW Industrials, Inc.CSW	4,531	32.4x	32.4x
Franklin Electric Co., Inc.FELE	4,389	30.9x	24.4x
Mueller Water Products, Inc.MWA	4,126	21.6x	28.1x
Corporación América Airports S.A.CAAP	4,117	16.6x	17.2x
Kadant Inc.KAI	4,001	39.2x	34.8x
Brady CorporationBRC	3,699	20.0x	19.0x
Hayward Holdings, Inc.HAYW	3,163	21.4x	23.0x
Exponent, Inc.EXPO	3,025	29.7x	29.8x
Industry Median		26.0x	26.3x
(*) Profit after tax		145	247
Equity Value		3,766	6,499
(/) Outstanding shares		58	58
Fair Price		$65	$112

Selected Fair Value (avg of trailing + forward)

$88.49

+95.3%

Fair Value

$66.01

Market Price

$45.31

Upside / Downside

+45.7%

Verdict

Undervalued

Using the industry peer median EV/EBITDA multiple (trailing + forward), Crane NXT, Co. (CXT) has a fair value of $66.01 based on 10 comparable companies in the Industrial - Machinery industry.

EV/EBITDA Valuation — Industrial - Machinery

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/EBITDA	Forward EV/EBITDA
Crane NXT, Co.CXT	2,628	10.2x	11.3x
Schneider National, Inc.SNDR	5,368	9.2x	9.8x
Atmus Filtration Technologies Inc.ATMU	4,540	15.3x	16.2x
CSW Industrials, Inc.CSW	4,531	19.6x	19.5x
Franklin Electric Co., Inc.FELE	4,389	13.6x	14.4x
Mueller Water Products, Inc.MWA	4,126	13.8x	15.3x
Corporación América Airports S.A.CAAP	4,117	6.6x	6.8x
Kadant Inc.KAI	4,001	20.4x	21.3x
Brady CorporationBRC	3,699	13.0x	14.6x
Hayward Holdings, Inc.HAYW	3,163	9.7x	10.6x
Exponent, Inc.EXPO	3,025	18.3x	20.8x
Industry Median		13.7x	15.0x
(*) EBITDA		348	314
= Enterprise Value		4,774	4,695
(-) Net Debt		906	906
Equity Value		3,868	3,789
(/) Outstanding shares		58	58
Fair Price		$67	$65

Selected Fair Value (avg of trailing + forward)

$66.01

+45.7%

Fair Value

$58.93

Market Price

$45.31

Upside / Downside

+30.1%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Crane NXT, Co. (CXT) has a fair value of $58.93 based on 10 comparable companies in the Industrial - Machinery industry.

EV/Revenue Valuation — Industrial - Machinery

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Crane NXT, Co.CXT	2,628	2.1x	2.4x
Schneider National, Inc.SNDR	5,368	1.0x	1.1x
Atmus Filtration Technologies Inc.ATMU	4,540	2.8x	2.9x
CSW Industrials, Inc.CSW	4,531	5.0x	5.0x
Franklin Electric Co., Inc.FELE	4,389	2.1x	2.3x
Mueller Water Products, Inc.MWA	4,126	2.9x	3.2x
Corporación América Airports S.A.CAAP	4,117	2.4x	2.4x
Kadant Inc.KAI	4,001	4.0x	4.2x
Brady CorporationBRC	3,699	2.4x	2.7x
Hayward Holdings, Inc.HAYW	3,163	2.5x	2.8x
Exponent, Inc.EXPO	3,025	5.0x	5.6x
Industry Median		2.6x	2.9x
(*) Revenue		1,657	1,493
= Enterprise Value		4,390	4,258
(-) Net Debt		906	906
Equity Value		3,484	3,352
(/) Outstanding shares		58	58
Fair Price		$60	$58

Selected Fair Value (avg of trailing + forward)

$58.93

+30.1%

PEG Fair Value

Fair Value

$106.75

Market Price

$45.31

Upside / Downside

+135.6%

Verdict

Undervalued

Using the PEG framework with analyst consensus forward EPS growth of 25.0% plus 1.5% dividend yield, the company has a fair value of $106.75 based on NTM EPS (FY2026) of $4.27. The current PEG ratio is 0.27.

PEG Ratio

0.27Deep Value

01.02.03.0+

PEG = P/E ÷ (Growth + Yield) = 10.6 ÷ (37.4% + 1.5%) = 0.27

PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.

Growth Category: Fast GrowerPEG moderately applicable

Growth above 25% is capped — hypergrowth may not be sustainable long-term.

Fair Value Calculation

EPS Growth RateForward	37.4%
Dividend Yield	+1.5%
Adjusted Growth (clamped 8–25%)Clamped	25.0%
Fair P/E	25.0x
NTM EPS (FY2026)	$4.27
Fair Value	$106.75

Growth Analysis

Forward GrowthActive

Period	EPS Est.	Growth	Analysts
FY2025 (actual)	$2.50	—	—
FY2026E	$4.27	+70.8%	5
FY2027E	$4.72	+10.5%	4

2Y Forward EPS CAGR: 37.4%

Historical Growth

Year	Net Income	EPS	YoY
FY2021	$178.0M	$7.68	—
FY2022	$204.9M	$7.07	-7.9%
FY2023	$188.3M	$3.27	-53.7%
FY2024	$184.1M	$3.19	-2.4%
FY2025	$145.1M	$2.50	-21.6%

4Y Historical EPS CAGR: -24.5%

Earnings Power Value

Fair Value

$40.27

Market Price

$45.31

Upside / Downside

-11.1%

Verdict

Overvalued

Using the Earnings Power Value framework with a WACC of 7.9% and normalized earnings of $255.5M, the company has a fair value of $40.27 per share. The EPV range is $31.33 – $53.40 based on WACC sensitivity (6.4% – 9.4%).

Currency: USD Millions

	Low	Selected	High
Normalized Earnings	255	255	255
(/) WACC	9.4%	7.9%	6.4%
Enterprise Value	2,723	3,241	4,003
(-) Net debt	906	906	906
Equity Value	1,817	2,336	3,097
(/) Outstanding shares	58	58	58
Fair Price	$31.33	$40.27	$53.40

Dividend Discount Model

Fair Value

$8.87

Market Price

$45.31

Upside / Downside

-80.4%

Verdict

Overvalued

Using the Two-Stage Dividend Discount Model with a Cost of Equity of 9.5% and projected dividend growth of 0.0%, the fair value is $8.87 per share. The DDM range is $6.92 – $13.55 based on sensitivity analysis across Cost of Equity and growth rate assumptions.

Dividend Profile

Current DPS

$0.67

Dividend Yield

1.50%

Payout Ratio

26.9%

Dividend Coverage

3.72x

FCF Payout Ratio19.7%

DPS CAGR (3Y)-27.6%

Historical Dividends Per Share

Year	DPS	Payout Ratio	YoY Growth
2025	$0.67	26.9%	+6.2%
2024	$0.63	19.9%	+53.6%
2023	$0.41	12.6%	—
2022	—	0.0%	-100.0%
2021	$1.77	56.5%	—

Dividend Projections (5-Year)

Year	Projected DPS	Growth	Discount Factor	Present Value
2026	$0.67	0.0%	0.9135	$0.61
2027	$0.67	0.0%	0.8344	$0.56
2028	$0.67	0.0%	0.7622	$0.51
2029	$0.67	0.0%	0.6962	$0.47
2030	$0.67	0.0%	0.6360	$0.43
Terminal Value	$0.69 DPS	2.5%		$6.29

PV of Projected Dividends$2.58

PV of Terminal Value$6.29

Fair Value per Share$8.87

Sensitivity Analysis

Fair value under different Cost of Equity (rows) and DPS Growth Rate (columns) assumptions.

Ke \ Growth	0.0%	0.0%	0.0%	1.0%	2.0%
7.5%	$12	$12	$12	$13	$14
8.5%	$10	$10	$10	$11	$11
9.5%	$9	$9	$9	$9	$10
10.5%	$8	$8	$8	$8	$8
11.5%	$7	$7	$7	$7	$8

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Crane NXT, Co. (CXT) Valuation Summary

Updated May 10, 2026 23:50

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Growth Exit 5Y	$41.60 – $169.84	$70.09	+54.7%
Growth Exit 10Y	$48.28 – $181.95	$78.33	+72.9%
EBITDA Exit 5Y	$49.98 – $108.44	$76.80	+69.5%
EBITDA Exit 10Y	$53.68 – $119.96	$82.05	+81.1%
▸ Trading Multiples
P/E	$53.64 – $81.06	$88.49	+95.3%
EV/EBITDA	$42.39 – $94.38	$66.01	+45.7%
EV/Revenue	$51.77 – $99.82	$58.93	+30.1%
▸ PEG
PEG Fair Value	$106.75 – $106.75	$106.75	+135.6%
▸ Earnings Power Value
Earnings Power Value	$31.33 – $53.40	$40.27	-11.1%
▸ Dividend Discount
Dividend Discount	$6.92 – $13.55	$8.87	-80.4%

Valuation History

DCF Analysis

Fair Value

$70.09

Market Price

$45.31

Upside / Downside

+54.7%

Verdict

Undervalued

FCFF Present Value Calculation

WACC

7.88%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	267	279	285	300	316	324
(−) Net Interest	66	69	70	74	78	80
(+) D&A	39	38	43	47	48	49
EBITDA	372	385	398	421	443	454

(−) Tax	53	55	56	59	62	64
(−) CapEx	47	49	50	53	55	57
(−) ΔWC	59	19	11	26	28	28
Free Cash Flow (FCFF)	213	262	281	283	297	305

Terminal Value						5,658
WACC / Discount Rate	7.9%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	205	234	232	217	211	3,872

Enterprise Value	4,971
Projection Period	1,100	22.1%
Terminal Value	3,872	77.9%

(−) Current Net Debt	906

Equity Value	4,065
(/) Outstanding Shares	58

Fair Price	$70.09

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
5.9%	$94	$106	$121	$141	$170
6.9%	$74	$81	$90	$101	$115
7.9%	$60	$64	$70	$77	$85
8.9%	$49	$53	$57	$61	$67
9.9%	$42	$44	$47	$50	$54

Current price: $45.31. Green = undervalued, Red = overvalued.

Fair Value

$78.33

Market Price

$45.31

Upside / Downside

+72.9%

Verdict

Undervalued

FCFF Present Value Calculation

WACC

7.88%

3% – 20%

Terminal Growth

2.50%

0% – 6%

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	267	279	285	300	316	332	347	362	375	388	398
(−) Net Interest	66	69	70	74	78	82	86	89	93	96	98
(+) D&A	39	38	43	47	48	51	53	55	58	61	62
EBITDA	372	385	398	421	443	465	486	506	526	545	558

(−) Tax	53	55	56	59	62	66	69	71	74	77	79
(−) CapEx	47	49	50	53	55	58	61	63	66	68	70
(−) ΔWC	59	19	11	26	28	27	26	25	24	22	23
Free Cash Flow (FCFF)	213	262	281	283	297	314	330	347	363	378	387

Terminal Value											7,198
WACC / Discount Rate	7.9%
Long-term Growth Rate	2.5%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	205	234	232	217	211	207	202	196	190	184	3,370

Enterprise Value	5,449
Projection Period	2,078	38.1%
Terminal Value	3,370	61.9%

(−) Current Net Debt	906

Equity Value	4,543
(/) Outstanding Shares	58

Fair Price	$78.33

Sensitivity Analysis

WACC \ Terminal Growth Rate	1.5%	2.0%	2.5%	3.0%	3.5%
5.9%	$110	$121	$135	$154	$182
6.9%	$86	$92	$100	$110	$123
7.9%	$69	$73	$78	$84	$92
8.9%	$57	$60	$63	$67	$72
9.9%	$48	$50	$52	$55	$58

Current price: $45.31. Green = undervalued, Red = overvalued.

Fair Value

$76.79

Market Price

$45.31

Upside / Downside

+69.5%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Crane NXT, Co.'s cash flows over 5 years with line-by-line expense modeling. Revenue is projected revenue growing from 4.7% to 5.3% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 80, DPO 69, DIO 100). At a 7.9% WACC with mid-year discounting, the terminal value (79% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 13.7x to Year 6 EBITDA. After subtracting net debt, the equity value implies a fair price of $76.80 per share, suggesting CXT is undervalued by 69.5% at the current price of $45.31.

FCFF Present Value Calculation

WACC

7.88%

3% – 20%

EV/EBITDA Exit Multiple

13.72x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	Terminal
Profit Before Tax	267	279	285	300	316	324
(−) Net Interest	66	69	70	74	78	80
(+) D&A	39	38	43	47	48	49
EBITDA	372	385	398	421	443	454

(−) Tax	53	55	56	59	62	—
(−) CapEx	47	49	50	53	55	—
(−) ΔWC	59	19	11	26	28	—
Free Cash Flow (FCF)	213	262	281	283	297	—

Peers' EBITDA Multiple						13.7x
Terminal Value						6,226
WACC / Discount Rate	7.88%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5
Present Value of FCF	205	234	232	217	211	4,260

Enterprise Value	5,360
Projection Period	1,100	20.5%
Terminal Value	4,260	79.5%

(−) Current Net Debt	906
Equity Value	4,454
(÷) Outstanding Shares	58M
Fair Price	$77	+69.5%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	9.7x	11.7x	13.7x	15.7x	17.7x
5.9%	$61	$73	$85	$97	$108
6.9%	$58	$70	$81	$92	$103
7.9%	$55	$66	$77	$88	$98
8.9%	$53	$63	$73	$83	$94
9.9%	$50	$60	$70	$79	$89

Current price: $45.31. Green = undervalued, Red = overvalued.

Based on default parameters

Fair Value

$82.04

Market Price

$45.31

Upside / Downside

+81.1%

Verdict

Undervalued

Using an unlevered Free Cash Flow to Firm (FCFF) model, we project Crane NXT, Co.'s cash flows over 10 years with analyst estimates for the first 3–5 years, fading toward long-term GDP growth for the remaining years with line-by-line expense modeling. Revenue is projected revenue growing from 4.7% to 3.4% annually, with expenses (COGS, SG&A, R&D) held at historical ratios. Depreciation is computed from a vintage matrix based on a 5-year useful life. Working capital is modeled using historical turnover days (DSO 80, DPO 69, DIO 100). At a 7.9% WACC with mid-year discounting, the terminal value (63% of enterprise value) is derived by applying the industry peer median EV/EBITDA multiple of 13.7x to Year 11 EBITDA. After subtracting net debt, the equity value implies a fair price of $82.05 per share, suggesting CXT is undervalued by 81.1% at the current price of $45.31.

FCFF Present Value Calculation

WACC

7.88%

3% – 20%

EV/EBITDA Exit Multiple

13.72x

1x – 40x

Forecast Period

5 Yrs

+ Terminal Year

Adjust parameters to explore scenarios. Changes are for exploration only and do not affect saved valuations.

Currency: USD Millions

	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Profit Before Tax	267	279	285	300	316	332	347	362	375	388	398
(−) Net Interest	66	69	70	74	78	82	86	89	93	96	98
(+) D&A	39	38	43	47	48	51	53	55	58	61	62
EBITDA	372	385	398	421	443	465	486	506	526	545	558

(−) Tax	53	55	56	59	62	66	69	71	74	77	—
(−) CapEx	47	49	50	53	55	58	61	63	66	68	—
(−) ΔWC	59	19	11	26	28	27	26	25	24	22	—
Free Cash Flow (FCF)	213	262	281	283	297	314	330	347	363	378	—

Peers' EBITDA Multiple											13.7x
Terminal Value											7,658
WACC / Discount Rate	7.88%

Timing of FCF (mid year)	0.5	1.5	2.5	3.5	4.5	5.5	6.5	7.5	8.5	9.5	5
Present Value of FCF	205	234	232	217	211	207	202	196	190	184	3,586

Enterprise Value	5,664
Projection Period	2,078	36.7%
Terminal Value	3,586	63.3%

(−) Current Net Debt	906
Equity Value	4,759
(÷) Outstanding Shares	58M
Fair Price	$82	+81.1%

Sensitivity Analysis

WACC \ EV/EBITDA Exit Multiple	9.7x	11.7x	13.7x	15.7x	17.7x
5.9%	$76	$87	$98	$109	$120
6.9%	$70	$80	$90	$100	$110
7.9%	$64	$73	$82	$91	$100
8.9%	$59	$67	$75	$83	$91
9.9%	$54	$61	$69	$76	$84

Current price: $45.31. Green = undervalued, Red = overvalued.

Based on default parameters

Trading Multiples

Fair Value

$88.49

Market Price

$45.31

Upside / Downside

+95.3%

Verdict

Undervalued

Using the industry peer median P/E Multiples multiple (trailing + forward), Crane NXT, Co. (CXT) has a fair value of $88.49 based on 10 comparable companies in the Industrial - Machinery industry.

P/E Valuation — Industrial - Machinery

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing P/E	Forward P/E
Crane NXT, Co.CXT	2,628	18.1x	10.6x
Schneider National, Inc.SNDR	5,368	51.9x	44.2x
Atmus Filtration Technologies Inc.ATMU	4,540	22.2x	22.7x
CSW Industrials, Inc.CSW	4,531	32.4x	32.4x
Franklin Electric Co., Inc.FELE	4,389	30.9x	24.4x
Mueller Water Products, Inc.MWA	4,126	21.6x	28.1x
Corporación América Airports S.A.CAAP	4,117	16.6x	17.2x
Kadant Inc.KAI	4,001	39.2x	34.8x
Brady CorporationBRC	3,699	20.0x	19.0x
Hayward Holdings, Inc.HAYW	3,163	21.4x	23.0x
Exponent, Inc.EXPO	3,025	29.7x	29.8x
Industry Median		26.0x	26.3x
(*) Profit after tax		145	247
Equity Value		3,766	6,499
(/) Outstanding shares		58	58
Fair Price		$65	$112

Selected Fair Value (avg of trailing + forward)

$88.49

+95.3%

Fair Value

$66.01

Market Price

$45.31

Upside / Downside

+45.7%

Verdict

Undervalued

Using the industry peer median EV/EBITDA multiple (trailing + forward), Crane NXT, Co. (CXT) has a fair value of $66.01 based on 10 comparable companies in the Industrial - Machinery industry.

EV/EBITDA Valuation — Industrial - Machinery

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/EBITDA	Forward EV/EBITDA
Crane NXT, Co.CXT	2,628	10.2x	11.3x
Schneider National, Inc.SNDR	5,368	9.2x	9.8x
Atmus Filtration Technologies Inc.ATMU	4,540	15.3x	16.2x
CSW Industrials, Inc.CSW	4,531	19.6x	19.5x
Franklin Electric Co., Inc.FELE	4,389	13.6x	14.4x
Mueller Water Products, Inc.MWA	4,126	13.8x	15.3x
Corporación América Airports S.A.CAAP	4,117	6.6x	6.8x
Kadant Inc.KAI	4,001	20.4x	21.3x
Brady CorporationBRC	3,699	13.0x	14.6x
Hayward Holdings, Inc.HAYW	3,163	9.7x	10.6x
Exponent, Inc.EXPO	3,025	18.3x	20.8x
Industry Median		13.7x	15.0x
(*) EBITDA		348	314
= Enterprise Value		4,774	4,695
(-) Net Debt		906	906
Equity Value		3,868	3,789
(/) Outstanding shares		58	58
Fair Price		$67	$65

Selected Fair Value (avg of trailing + forward)

$66.01

+45.7%

Fair Value

$58.93

Market Price

$45.31

Upside / Downside

+30.1%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Crane NXT, Co. (CXT) has a fair value of $58.93 based on 10 comparable companies in the Industrial - Machinery industry.

EV/Revenue Valuation — Industrial - Machinery

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Crane NXT, Co.CXT	2,628	2.1x	2.4x
Schneider National, Inc.SNDR	5,368	1.0x	1.1x
Atmus Filtration Technologies Inc.ATMU	4,540	2.8x	2.9x
CSW Industrials, Inc.CSW	4,531	5.0x	5.0x
Franklin Electric Co., Inc.FELE	4,389	2.1x	2.3x
Mueller Water Products, Inc.MWA	4,126	2.9x	3.2x
Corporación América Airports S.A.CAAP	4,117	2.4x	2.4x
Kadant Inc.KAI	4,001	4.0x	4.2x
Brady CorporationBRC	3,699	2.4x	2.7x
Hayward Holdings, Inc.HAYW	3,163	2.5x	2.8x
Exponent, Inc.EXPO	3,025	5.0x	5.6x
Industry Median		2.6x	2.9x
(*) Revenue		1,657	1,493
= Enterprise Value		4,390	4,258
(-) Net Debt		906	906
Equity Value		3,484	3,352
(/) Outstanding shares		58	58
Fair Price		$60	$58

Selected Fair Value (avg of trailing + forward)

$58.93

+30.1%

PEG Fair Value

Fair Value

$106.75

Market Price

$45.31

Upside / Downside

+135.6%

Verdict

Undervalued

PEG Ratio

0.27Deep Value

01.02.03.0+

PEG = P/E ÷ (Growth + Yield) = 10.6 ÷ (37.4% + 1.5%) = 0.27

PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.

Growth Category: Fast GrowerPEG moderately applicable

Growth above 25% is capped — hypergrowth may not be sustainable long-term.

Fair Value Calculation

EPS Growth RateForward	37.4%
Dividend Yield	+1.5%
Adjusted Growth (clamped 8–25%)Clamped	25.0%
Fair P/E	25.0x
NTM EPS (FY2026)	$4.27
Fair Value	$106.75

Growth Analysis

Forward GrowthActive

Period	EPS Est.	Growth	Analysts
FY2025 (actual)	$2.50	—	—
FY2026E	$4.27	+70.8%	5
FY2027E	$4.72	+10.5%	4

2Y Forward EPS CAGR: 37.4%

Historical Growth

Year	Net Income	EPS	YoY
FY2021	$178.0M	$7.68	—
FY2022	$204.9M	$7.07	-7.9%
FY2023	$188.3M	$3.27	-53.7%
FY2024	$184.1M	$3.19	-2.4%
FY2025	$145.1M	$2.50	-21.6%

4Y Historical EPS CAGR: -24.5%

Earnings Power Value

Fair Value

$40.27

Market Price

$45.31

Upside / Downside

-11.1%

Verdict

Overvalued

Currency: USD Millions

	Low	Selected	High
Normalized Earnings	255	255	255
(/) WACC	9.4%	7.9%	6.4%
Enterprise Value	2,723	3,241	4,003
(-) Net debt	906	906	906
Equity Value	1,817	2,336	3,097
(/) Outstanding shares	58	58	58
Fair Price	$31.33	$40.27	$53.40

Dividend Discount Model

Fair Value

$8.87

Market Price

$45.31

Upside / Downside

-80.4%

Verdict

Overvalued

Dividend Profile

Current DPS

$0.67

Dividend Yield

1.50%

Payout Ratio

26.9%

Dividend Coverage

3.72x

FCF Payout Ratio19.7%

DPS CAGR (3Y)-27.6%

Historical Dividends Per Share

Year	DPS	Payout Ratio	YoY Growth
2025	$0.67	26.9%	+6.2%
2024	$0.63	19.9%	+53.6%
2023	$0.41	12.6%	—
2022	—	0.0%	-100.0%
2021	$1.77	56.5%	—

Dividend Projections (5-Year)

Year	Projected DPS	Growth	Discount Factor	Present Value
2026	$0.67	0.0%	0.9135	$0.61
2027	$0.67	0.0%	0.8344	$0.56
2028	$0.67	0.0%	0.7622	$0.51
2029	$0.67	0.0%	0.6962	$0.47
2030	$0.67	0.0%	0.6360	$0.43
Terminal Value	$0.69 DPS	2.5%		$6.29

PV of Projected Dividends$2.58

PV of Terminal Value$6.29

Fair Value per Share$8.87

Sensitivity Analysis

Fair value under different Cost of Equity (rows) and DPS Growth Rate (columns) assumptions.

Ke \ Growth	0.0%	0.0%	0.0%	1.0%	2.0%
7.5%	$12	$12	$12	$13	$14
8.5%	$10	$10	$10	$11	$11
9.5%	$9	$9	$9	$9	$10
10.5%	$8	$8	$8	$8	$8
11.5%	$7	$7	$7	$7	$8