Intrinsic value of Crane - CR

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$78.50

  Intrinsic Value

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  Value-price divergence*

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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 4.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  0.26
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  2,748
  2,803
  2,867
  2,941
  3,024
  3,116
  3,216
  3,326
  3,444
  3,572
  3,709
  3,856
  4,012
  4,179
  4,356
  4,544
  4,743
  4,954
  5,177
  5,412
  5,661
  5,923
  6,200
  6,492
  6,799
  7,122
  7,463
  7,822
  8,199
  8,597
  9,014
Variable operating expenses, $m
 
  2,419
  2,472
  2,533
  2,601
  2,676
  2,759
  2,849
  2,947
  3,052
  3,164
  3,170
  3,299
  3,436
  3,581
  3,736
  3,900
  4,073
  4,256
  4,450
  4,654
  4,870
  5,097
  5,337
  5,590
  5,856
  6,136
  6,431
  6,741
  7,068
  7,411
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,548
  2,419
  2,472
  2,533
  2,601
  2,676
  2,759
  2,849
  2,947
  3,052
  3,164
  3,170
  3,299
  3,436
  3,581
  3,736
  3,900
  4,073
  4,256
  4,450
  4,654
  4,870
  5,097
  5,337
  5,590
  5,856
  6,136
  6,431
  6,741
  7,068
  7,411
Operating income, $m
  200
  384
  395
  408
  423
  439
  457
  476
  498
  520
  545
  686
  713
  743
  775
  808
  843
  881
  920
  962
  1,007
  1,053
  1,102
  1,154
  1,209
  1,266
  1,327
  1,391
  1,458
  1,529
  1,603
EBITDA, $m
  267
  512
  524
  538
  553
  569
  588
  608
  630
  653
  678
  705
  733
  764
  796
  831
  867
  905
  946
  989
  1,035
  1,083
  1,133
  1,187
  1,243
  1,302
  1,364
  1,430
  1,499
  1,571
  1,648
Interest expense (income), $m
  37
  26
  28
  30
  32
  34
  37
  40
  43
  46
  50
  54
  58
  63
  68
  73
  78
  84
  90
  97
  103
  111
  118
  126
  135
  144
  153
  163
  173
  184
  196
Earnings before tax, $m
  164
  357
  367
  379
  391
  405
  420
  437
  455
  474
  495
  632
  655
  680
  707
  735
  765
  797
  830
  866
  903
  943
  984
  1,028
  1,074
  1,123
  1,174
  1,228
  1,284
  1,344
  1,407
Tax expense, $m
  40
  97
  99
  102
  106
  109
  113
  118
  123
  128
  134
  171
  177
  184
  191
  198
  207
  215
  224
  234
  244
  254
  266
  278
  290
  303
  317
  332
  347
  363
  380
Net income, $m
  123
  261
  268
  276
  286
  296
  307
  319
  332
  346
  361
  461
  478
  497
  516
  537
  559
  582
  606
  632
  659
  688
  718
  750
  784
  820
  857
  896
  938
  981
  1,027

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  510
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,428
  2,976
  3,044
  3,122
  3,210
  3,307
  3,414
  3,530
  3,656
  3,792
  3,937
  4,093
  4,259
  4,436
  4,624
  4,824
  5,035
  5,259
  5,495
  5,745
  6,009
  6,288
  6,582
  6,891
  7,217
  7,561
  7,923
  8,304
  8,704
  9,126
  9,569
Adjusted assets (=assets-cash), $m
  2,918
  2,976
  3,044
  3,122
  3,210
  3,307
  3,414
  3,530
  3,656
  3,792
  3,937
  4,093
  4,259
  4,436
  4,624
  4,824
  5,035
  5,259
  5,495
  5,745
  6,009
  6,288
  6,582
  6,891
  7,217
  7,561
  7,923
  8,304
  8,704
  9,126
  9,569
Revenue / Adjusted assets
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
  0.942
Average production assets, $m
  577
  303
  310
  318
  327
  336
  347
  359
  372
  386
  401
  416
  433
  451
  470
  491
  512
  535
  559
  585
  611
  640
  670
  701
  734
  769
  806
  845
  886
  928
  974
Working capital, $m
  795
  292
  298
  306
  314
  324
  334
  346
  358
  371
  386
  401
  417
  435
  453
  473
  493
  515
  538
  563
  589
  616
  645
  675
  707
  741
  776
  813
  853
  894
  937
Total debt, $m
  745
  790
  843
  905
  973
  1,049
  1,133
  1,224
  1,322
  1,428
  1,542
  1,664
  1,794
  1,932
  2,079
  2,235
  2,400
  2,575
  2,760
  2,956
  3,162
  3,380
  3,610
  3,852
  4,107
  4,376
  4,659
  4,956
  5,270
  5,599
  5,946
Total liabilities, $m
  2,294
  2,327
  2,380
  2,442
  2,510
  2,586
  2,670
  2,761
  2,859
  2,965
  3,079
  3,201
  3,331
  3,469
  3,616
  3,772
  3,937
  4,112
  4,297
  4,493
  4,699
  4,917
  5,147
  5,389
  5,644
  5,913
  6,196
  6,493
  6,807
  7,136
  7,483
Total equity, $m
  1,134
  649
  664
  681
  700
  721
  744
  770
  797
  827
  858
  892
  929
  967
  1,008
  1,052
  1,098
  1,146
  1,198
  1,252
  1,310
  1,371
  1,435
  1,502
  1,573
  1,648
  1,727
  1,810
  1,898
  1,989
  2,086
Total liabilities and equity, $m
  3,428
  2,976
  3,044
  3,123
  3,210
  3,307
  3,414
  3,531
  3,656
  3,792
  3,937
  4,093
  4,260
  4,436
  4,624
  4,824
  5,035
  5,258
  5,495
  5,745
  6,009
  6,288
  6,582
  6,891
  7,217
  7,561
  7,923
  8,303
  8,705
  9,125
  9,569
Debt-to-equity ratio
  0.657
  1.220
  1.270
  1.330
  1.390
  1.460
  1.520
  1.590
  1.660
  1.730
  1.800
  1.860
  1.930
  2.000
  2.060
  2.130
  2.190
  2.250
  2.300
  2.360
  2.410
  2.470
  2.520
  2.560
  2.610
  2.650
  2.700
  2.740
  2.780
  2.810
  2.850
Adjusted equity ratio
  0.214
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218
  0.218

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  123
  261
  268
  276
  286
  296
  307
  319
  332
  346
  361
  461
  478
  497
  516
  537
  559
  582
  606
  632
  659
  688
  718
  750
  784
  820
  857
  896
  938
  981
  1,027
Depreciation, amort., depletion, $m
  67
  129
  129
  130
  130
  130
  131
  131
  132
  133
  133
  19
  20
  21
  22
  23
  24
  25
  26
  27
  28
  29
  31
  32
  34
  35
  37
  39
  41
  43
  45
Funds from operations, $m
  345
  390
  397
  406
  415
  426
  438
  450
  464
  479
  494
  480
  498
  517
  538
  559
  582
  606
  632
  659
  687
  718
  749
  783
  818
  855
  894
  935
  978
  1,024
  1,072
Change in working capital, $m
  27
  6
  7
  8
  9
  10
  10
  11
  12
  13
  14
  15
  16
  17
  18
  20
  21
  22
  23
  24
  26
  27
  29
  30
  32
  34
  35
  37
  39
  41
  43
Cash from operations, $m
  318
  88
  391
  398
  407
  417
  427
  439
  452
  465
  480
  465
  482
  500
  519
  540
  561
  584
  609
  634
  662
  690
  720
  752
  786
  821
  859
  898
  939
  983
  1,028
Maintenance CAPEX, $m
  0
  -14
  -14
  -14
  -15
  -15
  -16
  -16
  -17
  -17
  -18
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -31
  -32
  -34
  -35
  -37
  -39
  -41
  -43
New CAPEX, $m
  -52
  -6
  -7
  -8
  -9
  -10
  -11
  -12
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -22
  -23
  -24
  -25
  -27
  -28
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -43
  -45
Cash from investing activities, $m
  -51
  -20
  -21
  -22
  -24
  -25
  -27
  -28
  -30
  -31
  -33
  -34
  -36
  -38
  -40
  -42
  -45
  -47
  -49
  -51
  -54
  -56
  -59
  -63
  -65
  -69
  -72
  -76
  -80
  -84
  -88
Free cash flow, $m
  267
  68
  370
  376
  383
  392
  401
  411
  422
  434
  448
  431
  446
  462
  479
  498
  517
  538
  560
  583
  608
  634
  661
  690
  720
  753
  786
  822
  860
  899
  941
Issuance/(repayment) of debt, $m
  -50
  45
  54
  61
  69
  76
  84
  91
  98
  106
  114
  122
  130
  138
  147
  156
  165
  175
  185
  196
  206
  218
  230
  242
  255
  269
  283
  298
  313
  330
  347
Issuance/(repurchase) of shares, $m
  26
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -23
  45
  54
  61
  69
  76
  84
  91
  98
  106
  114
  122
  130
  138
  147
  156
  165
  175
  185
  196
  206
  218
  230
  242
  255
  269
  283
  298
  313
  330
  347
Total cash flow (excl. dividends), $m
  223
  113
  423
  437
  452
  468
  484
  502
  521
  540
  561
  552
  576
  600
  626
  654
  683
  713
  745
  779
  814
  852
  891
  932
  976
  1,021
  1,069
  1,120
  1,173
  1,229
  1,287
Retained Cash Flow (-), $m
  5
  -13
  -15
  -17
  -19
  -21
  -23
  -25
  -27
  -30
  -32
  -34
  -36
  -39
  -41
  -43
  -46
  -49
  -52
  -55
  -58
  -61
  -64
  -68
  -71
  -75
  -79
  -83
  -87
  -92
  -97
Prev. year cash balance distribution, $m
 
  510
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  610
  408
  420
  433
  446
  461
  477
  493
  511
  530
  519
  540
  562
  585
  610
  637
  664
  693
  724
  757
  791
  827
  865
  904
  946
  990
  1,037
  1,086
  1,137
  1,191
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  585
  374
  366
  356
  346
  335
  322
  308
  293
  278
  246
  230
  214
  197
  179
  162
  145
  128
  112
  96
  82
  69
  57
  46
  37
  29
  22
  17
  12
  9
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Crane Co. manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. It operates through four segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment provides process valves and related products under the trade names of Crane, Saunders, Jenkins, Pacific, Xomox, Krombach, DEPA, ELRO, REVO, Flowseal, Centerline, Resistoflex, Duochek, Barksdale, and WTA; commercial valves and related products under the Stockham, Wask, Viking Johnson, IAT, Hattersley, NABIC, Sperryn, Wade, Rhodes, and Brownall brand names; and pumps and related products under the trade names of Deming, Weinman, Burks, and Barnes. The Payment & Merchandising Technologies segment offers coin acceptors and dispensers, coin hoppers, coin recyclers, bill validators, bill recyclers, and cashless systems; and vending equipment that dispenses food, snack, and hot and cold beverages, as well as other solutions comprising vending management software, cashless payment products, and wireless connectivity products. The Aerospace & Electronics segment provides original equipment and aftermarket parts under the e Hydro-Aire, ELDEC, Lear Romec, P.L. Porter, Keltec, Interpoint, Signal Technology, Merrimac Industries, and Polyflon brand names. The Engineered Materials segment offers fiberglass-reinforced plastic panels and coils for use in the manufacturing of recreational vehicles, truck bodies, and truck trailers, as well as applications in the commercial and industrial buildings. The company primarily serves customers in chemical, power, oil and gas, and aerospace and defense markets, as well as a range of general industrial and consumer related end markets. Crane Co. was founded in 1855 and is based in Stamford, Connecticut.

FINANCIAL RATIOS  of  Crane (CR)

Valuation Ratios
P/E Ratio 37.6
Price to Sales 1.7
Price to Book 4.1
Price to Tangible Book
Price to Cash Flow 14.6
Price to Free Cash Flow 17.4
Growth Rates
Sales Growth Rate 0.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 30%
Cap. Spend. - 3 Yr. Gr. Rate 12.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 65.7%
Total Debt to Equity 65.7%
Interest Coverage 5
Management Effectiveness
Return On Assets 4.5%
Ret/ On Assets - 3 Yr. Avg. 6.1%
Return On Total Capital 6.5%
Ret/ On T. Cap. - 3 Yr. Avg. 9.3%
Return On Equity 10.8%
Return On Equity - 3 Yr. Avg. 16.2%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 36%
Gross Margin - 3 Yr. Avg. 35.2%
EBITDA Margin 9.8%
EBITDA Margin - 3 Yr. Avg. 13.1%
Operating Margin 7.3%
Oper. Margin - 3 Yr. Avg. 10.6%
Pre-Tax Margin 6%
Pre-Tax Margin - 3 Yr. Avg. 9.3%
Net Profit Margin 4.5%
Net Profit Margin - 3 Yr. Avg. 6.5%
Effective Tax Rate 24.4%
Eff/ Tax Rate - 3 Yr. Avg. 29%
Payout Ratio 62.6%

CR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CR stock intrinsic value calculation we used $2748 million for the last fiscal year's total revenue generated by Crane. The default revenue input number comes from 2016 income statement of Crane. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CR stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CR is calculated based on our internal credit rating of Crane, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Crane.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CR stock the variable cost ratio is equal to 86.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Crane.

Corporate tax rate of 27% is the nominal tax rate for Crane. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CR are equal to 10.8%.

Life of production assets of 21.7 years is the average useful life of capital assets used in Crane operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CR is equal to 10.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1146 million for Crane - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 57.189 million for Crane is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Crane at the current share price and the inputted number of shares is $4.5 billion.


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COMPANY NEWS

▶ ETFs with exposure to Crane Co. : June 22, 2017   [Jun-22-17 03:34PM  Capital Cube]
▶ Crane Co. Acquires Westlock Controls from Emerson   [May-01-17 07:00AM  Business Wire]
▶ Top picks for investing in Trump's America   [Apr-27-17 05:41PM  CNBC Videos]
▶ Crane tops Street 1Q forecasts   [Apr-24-17 05:06PM  Associated Press]
▶ Crane Co. Declares Second Quarter Dividend   [05:01PM  Business Wire]
▶ Crane Co. Reports First Quarter Results   [05:00PM  Business Wire]
▶ Crane Co. Elects New Director   [05:00PM  Business Wire]
▶ Crane Co. Value Analysis (NYSE:CR) : April 17, 2017   [Apr-17-17 01:25PM  Capital Cube]
▶ Crane Co. Declares First Quarter Dividend   [05:06PM  Business Wire]
▶ A Fund Manager Shares 3 Of His Top Stock Picks   [Jan-25-17 12:20PM  at Forbes]
▶ Sudden Surge in Crane Co. (CR) Ownership Among Hedge Funds   [Nov-27-16 06:04PM  at Insider Monkey]
▶ Crane Co. Reports Third Quarter Results   [05:00PM  Business Wire]
▶ Crane Co. Declares Fourth Quarter Dividend   [05:00PM  Business Wire]
▶ Billionaire Mario Gabellis Favorite Small-Caps Stocks for Q3   [Aug-11-16 02:25PM  at Insider Monkey]
Stock chart of CR Financial statements of CR Annual reports of CR
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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