MTWThe Manitowoc Company, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (2.4×) and margins widening.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
A balanced mix of margins, efficiency, and leverage. ROE 3% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is MTW?
The Manitowoc Company, Inc. earns 5.4% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 3.6 points below what the capital costs: growth destroys value
- Operating margin
- 3.1%
Operating margin · Farm & Heavy Construction Machinery median 5.1% · 12 months to Q2 2026
- Cash conversion
- 2.44×
Cash conversion · 0.46× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +2.0%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 2.7% |
| FY2021 | 2.7% |
| FY2022 | −4.6% |
| FY2023 | 4.2% |
| FY2024 | 2.4% |
| FY2025 | 2.4% |
Details›
- Gross margin12 months to Q2 2026
- 19%
- Operating margin12 months to Q2 2026
- 3.1%
- Net margin12 months to Q2 2026
- 0.87%
- Free cash flow margin
- 3.0%
- Revenue, trailing twelve months
- $2.32B
- Free cash flow, trailing twelve months
- $69M
- Net income, trailing twelve months
- $20M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 5.4%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Farm & Heavy Construction Machinery
Ranks #8 of 14 by RyuScore