Definitive Analysis
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Definitive Analysis

Financial Statements

Mode

Ticker

Industry

Sector

Crane Company (CR)

Company Dividend Discount ModelIndustry: Industrial - MachinerySector: Industrials

Valuation Snapshot

Stable Growth$24.79 - $32.86$28.99
Multi-Stage$46.86 - $51.81$49.28
Blended Fair Value$39.14
Current Price$184.14
Upside-78.75%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-12.83%-4.45%0.800.981.811.721.721.601.431.341.321.31
YoY Growth---18.15%-45.89%5.27%0.20%7.73%11.62%6.51%1.55%0.78%3.65%
Dividend Yield--0.52%0.73%2.43%1.59%1.83%3.25%1.66%1.45%1.77%2.44%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)365.90
(-) Cash Dividends Paid (M)51.50
(=) Cash Retained (M)314.40
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)73.1845.7427.44
Cash Retained (M)314.40314.40314.40
(-) Cash Required (M)-73.18-45.74-27.44
(=) Excess Retained (M)241.22268.66286.96
(/) Shares Outstanding (M)58.3558.3558.35
(=) Excess Retained per Share4.134.604.92
LTM Dividend per Share0.880.880.88
(+) Excess Retained per Share4.134.604.92
(=) Adjusted Dividend5.025.495.80
WACC / Discount Rate9.47%9.47%9.47%
Growth Rate-8.96%-7.96%-6.96%
Fair Value$24.79$28.99$32.86
Upside / Downside-86.54%-84.26%-82.15%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)365.90336.79309.99285.33262.63241.73248.99
Payout Ratio14.07%29.26%44.44%59.63%74.81%90.00%92.50%
Projected Dividends (M)51.5098.54137.78170.14196.49217.56230.31

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.47%9.47%9.47%
Growth Rate-8.96%-7.96%-6.96%
Year 1 PV (M)89.0490.0291.00
Year 2 PV (M)112.49114.98117.49
Year 3 PV (M)125.53129.71133.98
Year 4 PV (M)130.99136.84142.88
Year 5 PV (M)131.05138.41146.09
PV of Terminal Value (M)2,145.372,265.812,391.59
Equity Value (M)2,734.472,875.763,023.04
Shares Outstanding (M)58.3558.3558.35
Fair Value$46.86$49.28$51.81
Upside / Downside-74.55%-73.24%-71.86%

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