Crane NXT
CXT on NYSE. Crane NXT sells payment systems and product security technology to businesses. Market value $2.8bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Worth a closer look
Why it could be worth it
What to watch out for
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $7.01 of spare cash last year. A savings account pays about $4.
You pay 16.0 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 13 cents a year. Above 10 is good.
Quality score: 77 of 100. Price score: 86 of 100. Our list needs 70 on quality and 60 on price.
$49.16 a share, 38% above its 1-year low
Over the past year the price has ranged from $35.71 to $69.00.
Dividend: 1.4% a year
Paid every year for 3 years
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $3.4bn | $3.4bn | $1.4bn | $1.5bn | $1.7bn |
| Operating margin | |||||
| Operating margin | 8.2% | 8.9% | 20.6% | 18.1% | 14.9% |
| Debt to equity | |||||
| Debt to equity | 1.10 | 1.59 | 0.67 | 0.70 | 0.91 |
| Shares outstanding | |||||
| Shares outstanding | 0.06bn | 0.06bn | 0.06bn | 0.06bn | 0.06bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 9
- Profit backed by cash (accruals)Yes
- Debt0.91× equity
- Revenue growth, five yearsShrinking, 10.8% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $493 million last quarter, up 22% on a year ago.
- Profit: $35 million, up 42% on a year ago.
- It keeps 14 cents of each $1 of sales as operating profit, down from 15 cents a year earlier.
- About the same number of shares as a year ago.
- Debt is $1.2 billion more than cash, up from $977 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $404m |
| December 2024 | $399m |
| March 2025 | $330m |
| June 2025 | $404m |
| September 2025 | $445m |
| December 2025 | $477m |
| March 2026 | $388m |
| June 2026 | $493m |
| Quarter to | Amount |
|---|---|
| September 2024 | $47m |
| December 2024 | $58m |
| March 2025 | $22m |
| June 2025 | $25m |
| September 2025 | $51m |
| December 2025 | $48m |
| March 2026 | $6m |
| June 2026 | $35m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 26 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
7 long-term investors we follow own it, unchanged from 7 last quarter. 354 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| SouthernSun Asset ManagementMichael Cook | $42m | 5.7% | Added |
| Royce & AssociatesChuck Royce | $27m | 0.2% | Added |
| Hotchkis & WileyHotchkis & Wiley team | $17m | <0.1% | Added |
| GAMCO InvestorsMario Gabelli | $11m | <0.1% | Added |
| LSV Asset ManagementJosef Lakonishok | $6m | <0.1% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $5m | <0.1% | Cut |
| Boston PartnersBoston Partners team | $3m | <0.1% | Cut |
Largest holders overall
- FMR$388mAdded
- BlackRock$330mAdded
- Vanguard Portfolio Management$193mAdded
- Dimensional Fund Advisors LP$117mAdded
- Vanguard Capital Management$113m
- Invesco$113mAdded
- State Street$105mAdded
- Alliancebernstein L.P.$105m
- Channing Capital Management$102mAdded
- Deprince Race & Zollo$93mNew
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- FMR LLCPassive investorat least 12.3%(filed with 1 related holder)Since 31 March 2026
- BlackRock, Inc.Passive investor10.8%Since 30 June 2026
- Vanguard Portfolio ManagementPassive investor6.1%Since 31 March 2026
- Wellington Management Company LLPPassive investor5.8%Since 31 March 2025
- Wellington Management Group LLPPassive investorSold down below 5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 12.3% (filed with 1 related holder) | 31 March 2026 | |
BlackRock, Inc. Passive investor | 10.8% | 30 June 2026 | |
Vanguard Portfolio Management Passive investor | 6.1% | 31 March 2026 | |
Wellington Management Company LLP Passive investor | 5.8% | 31 March 2025 | |
Wellington Management Group LLP Passive investor | Sold down below 5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 2 insiders bought $1m of shares on the open market.
- Saak Aaron WCEO, DirectorBought
- Date
- 12 June 2026
- Shares
- 24,000
- Price
- $42.13
- Value
- $1m
- Cristiano ChristinaSVP, Chief Financial OfficerBought
- Date
- 12 June 2026
- Shares
- 3,550
- Price
- $41.96
- Value
- $148,958
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 12 June 2026 | Saak Aaron W CEO, Director | Bought | 24,000 | $42.13 | $1m |
| 12 June 2026 | Cristiano Christina SVP, Chief Financial Officer | Bought | 3,550 | $41.96 | $148,958 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 5 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 10.8% a year.
Whether the price already reflects the risks is what the deep dive is for.
What changed in the risks this year
Companies must list what could hurt them each year. These are the parts that changed since last year’s report.
Fluctuation in the prices of, or our ability to source, our components and raw materials, and delays in the distribution of our products could adversely affect our results of operations.
Could happenIn addition, w e rely on single or sole‑source suppliers for certain critical materials and components. If any such supplier encounters financial instability, capacity limitations, quality issues, regulatory impediments, labor shortages, or operational disruptions, we may be unable to obtain alternative sources on a timely basis or at comparable cost. Such circumstances could result in production delays, cost increases, or our inability to meet customer demand or quality specifications.
Read more
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.