2 models fit Manitowoc Company Inc. (The) Common Stock and they disagree: 0 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)Silver66
Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, Discounted cash flow, and Graham number.
ACCE opinionManitowoc Company Inc. (The) Common Stock (MTW)
Fair value (2 models)
$15.25
ACCE price target
$24.00
Rating
Overvalued
Horizon
12 months
Fair value published on 19 Oct 2026, 18:04 CEST; previously $16.21 since 15 Oct 2026, 00:00 CEST.
ACCE price target published on 13 Oct 2026, 00:00 CEST.
Rating published on 19 Oct 2026, 18:04 CEST.
Price used: $22.24 at the close on 23 Oct 2026, 22:00 CEST.
Models: EV/EBITDA comparison and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
45.8% above
-31.4% to fair value
ACCE score
62
out of 100
Analysts
0% buy
2 covering
P/E
41.0x
forward 25.8x
1-year return
+97.3%
Dividend yield
0.00%
Manitowoc Company Inc. (The) Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Manitowoc makes lattice-boom and crawler cranes under the Grove and Manitowoc brands, plus the Potain tower cranes sold into construction, and its Cranes segment is the core of the business. The structural case rests on a niche with few serious competitors and high switching costs for crane owners, who buy on lifting capacity, service networks and parts availability. Revenue growth of 10.3% is running well ahead of what an 18.7% gross margin and 5.7% operating margin would suggest is typical for this group, and the forward P/E of 25.8 against a trailing 40.8 says earnings are expected to recover sharply. The stock is a $809M market cap with no index membership, so it sits outside the flows that support larger industrials, and a ROE of 2.9% means the equity base is thin and the earnings recovery has to show up in the margin line before the returns look meaningful. The score of 64/100 is worth a deeper look mainly to test whether the margin expansion the forward multiple implies is already in the cost base or still ahead of it.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Free cash flow negative
Free cash flow was $-15.3M while debt/equity sits at 0.84. Earnings growth of 875.0% rests on a net margin of only 0.9%, so cash generation does not confirm the profit rebound.
moderate
Sequential revenue drop
Revenue fell 27.0% quarter over quarter even though year-over-year revenue grew 10.3%. The sequential decline is worth checking against the next report.
moderate
Thin returns on equity
Return on equity is 2.9% and operating margin is 5.7%. The business earns little on its capital, which limits how much the share price can rest on the earnings rebound.
AI research notes
AI-assisted·How I use AIWritten Oct 21, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 10.3% year over year, ahead of its 9.2% average annual pace over five years.
The latest quarter beat expectations, with earnings per share of 0.46 against 0.11 expected, a 318.2% surprise.
At a forward P/E of 26.7x, the stock sits above the sector median of 23.4x, though the price implies cash flow growth of 12.2% a year forever.
Why it could disappoint
Free cash flow over the last twelve months was negative at -$15M, so the business consumed cash rather than generating it.
Returns are thin, with return on equity at 2.9% and return on invested capital at 0.5%, and a net margin of 0.9%.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 3, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where MTW's valuation models land
Price
$22.24
Model fair value
$15.25
Model range
$9.30 to $21.20
Fair value $15.25
Price $22.24
The price is above the whole model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
Graham number
P/E comparison
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Quality
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