DB:MNGN

Stock Analysis Report

Executive Summary

The Manitowoc Company, Inc. provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific.


Snowflake Analysis

Undervalued with adequate balance sheet.


Similar Companies

Share Price & News

How has Manitowoc Company's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MNGN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-5.7%

MNGN

2.8%

DE Machinery

9.9%

DE Market


1 Year Return

-49.6%

MNGN

-30.9%

DE Machinery

-17.5%

DE Market

Return vs Industry: MNGN underperformed the German Machinery industry which returned -30.9% over the past year.

Return vs Market: MNGN underperformed the German Market which returned -17.5% over the past year.


Shareholder returns

MNGNIndustryMarket
7 Day-5.7%2.8%9.9%
30 Day-32.4%-18.7%-16.6%
90 Day-51.3%-29.7%-24.8%
1 Year-49.6%-49.6%-28.8%-30.9%-15.0%-17.5%
3 Year-63.6%-63.6%-41.6%-45.8%-17.4%-24.5%
5 Year-90.5%-90.5%-28.9%-36.9%-16.6%-28.1%

Price Volatility Vs. Market

How volatile is Manitowoc Company's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Manitowoc Company undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MNGN (€7.5) is trading below our estimate of fair value (€25.92)

Significantly Below Fair Value: MNGN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MNGN is good value based on its PE Ratio (6.5x) compared to the Machinery industry average (10.2x).

PE vs Market: MNGN is good value based on its PE Ratio (6.5x) compared to the German market (16.3x).


Price to Earnings Growth Ratio

PEG Ratio: MNGN is poor value based on its PEG Ratio (2.9x)


Price to Book Ratio

PB vs Industry: MNGN is good value based on its PB Ratio (0.5x) compared to the DE Machinery industry average (1.1x).


Next Steps

Future Growth

How is Manitowoc Company forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

2.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MNGN's forecast earnings growth (2.2% per year) is above the savings rate (-0.4%).

Earnings vs Market: MNGN's earnings (2.2% per year) are forecast to grow slower than the German market (14.4% per year).

High Growth Earnings: MNGN's earnings are forecast to grow, but not significantly.

Revenue vs Market: MNGN's revenue is expected to decline over the next 3 years (-2.3% per year).

High Growth Revenue: MNGN's revenue is forecast to decline over the next 3 years (-2.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MNGN's Return on Equity is forecast to be low in 3 years time (7.4%).


Next Steps

Past Performance

How has Manitowoc Company performed over the past 5 years?

10.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MNGN has high quality earnings.

Growing Profit Margin: MNGN became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: MNGN has become profitable over the past 5 years, growing earnings by 10.1% per year.

Accelerating Growth: MNGN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: MNGN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Machinery industry (-19.9%).


Return on Equity

High ROE: MNGN's Return on Equity (7.2%) is considered low.


Next Steps

Financial Health

How is Manitowoc Company's financial position?


Financial Position Analysis

Short Term Liabilities: MNGN's short term assets ($872.4M) exceed its short term liabilities ($440.9M).

Long Term Liabilities: MNGN's short term assets ($872.4M) exceed its long term liabilities ($530.9M).


Debt to Equity History and Analysis

Debt Level: MNGN's debt to equity ratio (48.3%) is considered high.

Reducing Debt: MNGN's debt to equity ratio has reduced from 185.8% to 48.3% over the past 5 years.


Balance Sheet

Inventory Level: MNGN has a high level of physical assets or inventory.

Debt Coverage by Assets: MNGN's debt is covered by short term assets (assets are 2.8x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MNGN is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: MNGN is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

What is Manitowoc Company's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MNGN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MNGN's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MNGN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MNGN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MNGN is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MNGN's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

Barry Pennypacker (58yo)

4s

Tenure

US$5,086,182

Compensation

Mr. Barry L. Pennypacker has been Chief Executive Officer and President of The Manitowoc Company, Inc. since March 4, 2016. Mr. Pennypacker served as the Chief Executive Officer and President of Manitowoc  ...


CEO Compensation Analysis

Compensation vs Market: Barry's total compensation ($USD5.09M) is above average for companies of similar size in the German market ($USD731.58K).

Compensation vs Earnings: Barry's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Barry Pennypacker
President4yrsUS$5.09m0.73% $1.9m
David Antoniuk
Senior VP & CFO3.83yrsUS$1.94m0.14% $350.4k
Thomas Doerr
Senior VP2.25yrsUS$1.29m0.0041% $10.7k
Aaron Ravenscroft
Executive Vice President of Cranes4yrsUS$1.82m0.057% $147.9k
Peter Ruck
Senior Vice President of Business Development1.83yrsUS$1.65m0.042% $108.4k
Brian Regan
VP, Corporate Controller & Principal Accounting Officer1.25yrsno data0.062% $161.8k
Terrance Collins
Senior Vice President of Human Resources & Administrationno datano data0.0046% $11.8k
Ion Warner
Vice President of Marketing & Investor Relationsno datano datano data

3.0yrs

Average Tenure

47yo

Average Age

Experienced Management: MNGN's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Barry Pennypacker
President4yrsUS$5.09m0.73% $1.9m
C. Myers
Independent Director4yrsUS$190.22k0.11% $280.4k
Robert Bohn
Lead Directorno dataUS$213.34k0.091% $236.8k
Kenneth Krueger
Non-Executive Chairman4.42yrsUS$290.19k0.21% $552.6k
Roy Armes
Independent Director1.67yrsUS$100.23k0.054% $140.5k
Donald Condon
Independent Director9.67yrsUS$190.08k0.10% $263.0k
Anne Cooney
Independent Director4yrsUS$182.69k0.087% $224.2k
John Pfeifer
Independent Director4yrsUS$180.19k0.087% $224.2k
Anne Bélec
Independent Director0.25yrno datano data

4.0yrs

Average Tenure

58yo

Average Age

Experienced Board: MNGN's board of directors are considered experienced (4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: MNGN insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

The Manitowoc Company, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: The Manitowoc Company, Inc.
  • Ticker: MNGN
  • Exchange: DB
  • Founded: 1902
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: US$285.699m
  • Listing Market Cap: US$258.957m
  • Shares outstanding: 35.06m
  • Website: https://www.manitowoccranes.com/en

Number of Employees


Location

  • The Manitowoc Company, Inc.
  • One Park Plaza
  • 11270 West Park Place
  • Milwaukee
  • Wisconsin
  • 53224
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MTWNYSE (New York Stock Exchange)YesCommon StockUSUSDDec 1972
MNGNDB (Deutsche Boerse AG)YesCommon StockDEEURDec 1972

Biography

The Manitowoc Company, Inc. provides engineered lifting equipment for the construction industry in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile telescopic cranes under the Grove, Shuttlelift, and National Crane brands; and a hydraulically powered telescopic boom trucks under the National Crane brand. The company also provides crane product parts and services; and crane rebuilding, remanufacturing, and training services under the Manitowoc Crane Care brand. Its products are used in various applications, including energy production/distribution and utilities; petrochemical and industrial projects; infrastructure applications, such as road, bridge, and airport construction; and commercial and high-rise residential construction. The company was founded in 1902 and is headquartered in Milwaukee, Wisconsin. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 21:06
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.