The Manitowoc Company, Inc. (MTW) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-29.0%

$16.87

vs $23.74 price

Levered DCF

-$11.50

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.29

Grey zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	59.95×	5.78×	14.9×	-2.61×	58.09×	-24.2×	13.36×	-7.81×
P/B	0.61×	0.5×	0.97×	0.6×	0.98×	0.72×	0.96×	0.87×
P/S	0.19×	0.15×	0.26×	0.16×	0.38×	0.32×	0.34×	0.28×
EV / EBITDA	8.23×	6.3×	6.97×	-27.22×	10.87×	10.41×	6.08×	117.38×
Gross margin	18.1%	17.2%	19.1%	17.9%	17.9%	17.6%	18.8%	17.8%
Operating margin	2.6%	2.4%	4.1%	-4.6%	2.7%	2.7%	5.9%	-1.0%
Net margin	0.3%	2.6%	1.8%	-6.1%	0.6%	-1.3%	2.5%	-3.6%
Current ratio	2.23×	2.02×	1.83×	1.82×	1.81×	1.99×	1.98×	1.7×
Debt / equity	0.84×	0.68×	0.7×	0.78×	0.66×	0.53×	0.54×	0.45×
Interest coverage	1.56×	1.3×	2.63×	-2.94×	1.61×	1.26×	3.17×	-0.49×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	1.0%	8.7%	6.5%	-23.0%	1.7%	-3.0%	7.2%	-11.2%
Return on invested capital	2.5%	4.3%	7.1%	-8.7%	2.4%	3.3%	7.3%	-1.7%
Return on assets	0.4%	3.4%	2.3%	-7.7%	0.6%	-1.2%	2.9%	-4.4%
Free cash flow yield	-3.6%	1.1%	-2.5%	4.7%	5.5%	-13.3%	-14.2%	-103.8%
Earnings yield	1.7%	17.4%	6.7%	-38.4%	1.7%	-4.1%	7.5%	-12.8%
Enterprise value	$930.7M	$710.8M	$970.6M	$677.8M	$1B	$672.3M	$771.5M	$657.3M
Net debt / EBITDA	4.47×	3.45×	2.77×	-14.28×	3.89×	3.26×	1.19×	23.71×
Cash conversion cycle (days)	134	125	129	124	141	148	104	87