Manitowoc Company (NYSE:MTW) - Share price, News & Analysis

MTW fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	2/6
Financial Health	2/6
Dividends	0/6

MTW Stock Overview

The Manitowoc Company, Inc. provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, and the Asia Pacific.

Rewards

Trading at 54.5% below our estimate of its fair value

Earnings are forecast to grow 45.18% per year

Became profitable this year

Risk Analysis

Interest payments are not well covered by earnings

Large one-off items impacting financial results

Manitowoc Company Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Manitowoc Company
Historical stock prices
Current Share Price	US$10.29
52 Week High	US$27.37
52 Week Low	US$9.97
Beta	2.11
1 Month Change	-13.24%
3 Month Change	-34.33%
1 Year Change	-58.31%
3 Year Change	-41.77%
5 Year Change	-55.88%
Change since IPO	72.57%

Recent News & Updates

May 10

Manitowoc Company (NYSE:MTW) Is Experiencing Growth In Returns On Capital

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll...

Shareholder Returns

	MTW	US Machinery	US Market
7D	-2.3%	-2.1%	4.0%
1Y	-58.3%	-23.4%	-20.5%

Return vs Industry: MTW underperformed the US Machinery industry which returned -20.5% over the past year.

Return vs Market: MTW underperformed the US Market which returned -20.8% over the past year.

Price Volatility

Is MTW's price volatile compared to industry and market?
MTW volatility
MTW Average Weekly Movement	7.4%
Machinery Industry Average Movement	5.9%
Market Average Movement	7.9%
10% most volatile stocks in US Market	16.5%
10% least volatile stocks in US Market	3.1%

Stable Share Price: MTW is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: MTW's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1902	4,600	Aaron Ravenscroft	https://www.manitowoc.com

The Manitowoc Company, Inc. provides engineered lifting solutions 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 hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand. The company also provides crane product parts and services; and crane rebuilding, remanufacturing, and training services.

Manitowoc Company Fundamentals Summary

How do Manitowoc Company's earnings and revenue compare to its market cap?
MTW fundamental statistics
Market Cap	US$363.43m
Earnings (TTM)	US$17.20m
Revenue (TTM)	US$1.82b

21.1x

P/E Ratio

0.2x

P/S Ratio

Is MTW overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MTW income statement (TTM)
Revenue	US$1.82b
Cost of Revenue	US$1.50b
Gross Profit	US$323.80m
Other Expenses	US$306.60m
Earnings	US$17.20m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.49
Gross Margin	17.74%
Net Profit Margin	0.94%
Debt/Equity Ratio	58.8%

How did MTW perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is MTW undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MTW?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MTW. This is calculated by dividing MTW's market cap by their current preferred multiple.
What is MTW's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$363.43m

MTW key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.4x
Enterprise Value/EBITDA	5.1x
PEG Ratio	0.5x

Price to Earnings Ratio vs Peers

How does MTW's PE Ratio compare to its peers?

MTW PE Ratio vs Peers

The above table shows the PE ratio for MTW vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	20.2x

Forward PE

Price-To-Earnings vs Peers: MTW is expensive based on its Price-To-Earnings Ratio (21.1x) compared to the peer average (20.2x).

Price to Earnings Ratio vs Industry

How does MTW's PE Ratio compare vs other companies in the U.S. Machinery Industry?

Price-To-Earnings vs Industry: MTW is expensive based on its Price-To-Earnings Ratio (21.1x) compared to the US Machinery industry average (21x)

Price to Earnings Ratio vs Fair Ratio

What is MTW's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MTW PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	21.1x
Fair PE Ratio	32.4x

Price-To-Earnings vs Fair Ratio: MTW is good value based on its Price-To-Earnings Ratio (21.1x) compared to the estimated Fair Price-To-Earnings Ratio (32.4x).

Share Price vs Fair Value

What is the Fair Price of MTW when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MTW ($10.29) is trading below our estimate of fair value ($22.61)

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

Price to Earnings Growth Ratio

PEG Ratio: MTW is good value based on its PEG Ratio (0.5x)

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Future Growth

How is Manitowoc Company forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

45.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MTW's forecast earnings growth (45.2% per year) is above the savings rate (1.9%).

Earnings vs Market: MTW's earnings (45.2% per year) are forecast to grow faster than the US market (13.8% per year).

High Growth Earnings: MTW's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MTW's revenue (6.8% per year) is forecast to grow slower than the US market (8.3% per year).

High Growth Revenue: MTW's revenue (6.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MTW's Return on Equity is forecast to be low in 3 years time (5.6%).

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Past Performance

How has Manitowoc Company performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

46.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MTW has a large one-off loss of $36.5M impacting its March 31 2022 financial results.

Growing Profit Margin: MTW became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: MTW has become profitable over the past 5 years, growing earnings by 46.9% per year.

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

Earnings vs Industry: MTW has become profitable in the last year, making it difficult to compare its past year earnings growth to the Machinery industry (24%).

Return on Equity

High ROE: MTW's Return on Equity (2.6%) is considered low.

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Financial Health

How is Manitowoc Company's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: MTW's short term assets ($987.3M) exceed its short term liabilities ($568.2M).

Long Term Liabilities: MTW's short term assets ($987.3M) exceed its long term liabilities ($564.9M).

Debt to Equity History and Analysis

Debt Level: MTW's net debt to equity ratio (51%) is considered high.

Reducing Debt: MTW's debt to equity ratio has increased from 49.3% to 58.8% over the past 5 years.

Debt Coverage: MTW's debt is not well covered by operating cash flow (10.5%).

Interest Coverage: MTW's interest payments on its debt are not well covered by EBIT (3x coverage).

Balance Sheet

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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

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

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

Stability and Growth of Payments

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

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

Earnings Payout to Shareholders

Earnings Coverage: MTW is not paying a notable dividend for the US market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MTW has not reported any payouts.

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Management

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

1.6yrs

Average management tenure

CEO

Aaron Ravenscroft (43 yo)

1.83yrs

Tenure

US$4,952,777

Compensation

Mr. Aaron H. Ravenscroft serves as President, Chief Executive Officer and Director of The Manitowoc Company, Inc. since August 5, 2020 and served as its Executive Vice President of Cranes since September 2...

CEO Compensation Analysis

Compensation vs Market: Aaron's total compensation ($USD4.95M) is above average for companies of similar size in the US market ($USD2.77M).

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

Leadership Team

Experienced Management: MTW's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.

Board Members

Experienced Board: MTW's board of directors are considered experienced (6.3 years average tenure).

Ownership

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

Insider Trading Volume

Insider Buying: MTW 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.

Data	Last Updated (UTC time)
Company Analysis	2022/06/23 00:00
End of Day Share Price	2022/06/23 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31