Manitex International, Inc. (MNTX) | Investment Case

1. Company Snapshot

1.a. Company Description

Manitex International, Inc.provides engineered lifting solutions in the United States, Italy, Canada, France, Chile, and internationally.It designs, manufactures, and distributes products that are used in various industries.

The company also offers boom trucks, truck cranes, aerial platforms, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.In addition, it manufactures and sells rough terrain cranes and material handling products for construction, municipality, and railroad industries; and truck mounted hydraulic knuckle boom cranes.The company provides its products under the Manitex, PM, MAC, PM-Tadano, Oil & Steel, Badger, and Valla brands.

It also sells its products through dealers and rental distribution channel.The company was formerly known as Veri-Tek International, Corp.and changed its name to Manitex International, Inc.

in May 2008.Manitex International, Inc.was founded in 1993 and is headquartered in Bridgeview, Illinois.

Show Full description

1.b. Last Insights on MNTX

Manitex International's recent performance was driven by strong Q3 earnings, beating estimates at $0.09 per share. The company's solid financials were a result of its diversified product portfolio and growing demand for its truck cranes and specialized industrial equipment. Additionally, the company's recent acquisition by Tadano Ltd. is expected to bring significant benefits, including expanded global reach and increased resources. The successful completion of the acquisition on January 7, 2025, further solidifies Manitex's position in the market.

1.c. Company Highlights

Last Price	5.8
Change Percentage	0.00%
Open	5.8
Previous Close	5.8
Market Cap ( Millions)	118
Volume	216922
Year High	8.34
Year Low	3.07
M A 50	5.74
M A 200	5.37

FCF Yield	1.30%
Dividend Yield	0.00%
ROE	2.59%
Debt / Equity	126.57%
Net Debt / EBIDTA	654.23%
Price To Book	1.57
Price Earnings Ratio	61.71
Price To FCF	76.77
Price To sales	0.83
EV / EBITDA	15.02

2. Transcript Summary

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3. NewsRoom

BGL Announces Manitex International Completes the Closing of its Acquisition by Tadano Ltd.

Jan -07

Source: prnewswire.com

Manitex International Announces Results of Special Meeting of Shareholders

Dec -20

Source: businesswire.com

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates NAPA and MNTX on Behalf of Shareholders

Dec -06

Source: prnewswire.com

Manitex (MNTX) Q3 Earnings Beat Estimates

Nov -07

Source: zacks.com

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates OB and MNTX on Behalf of Shareholders

Oct -30

Source: globenewswire.com

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MNTX and RFL on Behalf of Shareholders

Oct -02

Source: accesswire.com

SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of CBIZ, Inc. - CBZ

Sep -19

Source: accesswire.com

MANITEX INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Manitex International, Inc. - MNTX

Sep -17

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.60%)

6. Segments

Lifting Equipment

Expected Growth: 4.5%

Manitex International's 4.5% growth in Lifting Equipment is driven by increasing demand from construction and infrastructure projects, rising adoption of aerial work platforms, and growing need for material handling solutions in industries such as oil and gas, and renewable energy.

Rental Equipment

Expected Growth: 5.5%

Manitex International's 5.5% rental equipment growth driven by increasing infrastructure projects, rising construction activities, and growing demand for aerial work platforms. Additionally, the company's strategic acquisitions, expanded product offerings, and strong dealer network contribute to the segment's growth.

7. Detailed Products

Boom Trucks

Manitex International's boom trucks are designed for heavy-duty lifting and hauling, featuring a range of capacities and boom lengths to suit various applications.

Knuckle Boom Cranes

Manitex International's knuckle boom cranes offer a compact and versatile design, suitable for tight spaces and heavy lifting requirements.

Straight Mast Cranes

Manitex International's straight mast cranes are designed for heavy-duty lifting and hauling, featuring a range of capacities and mast heights.

Truck-Mounted Cranes

Manitex International's truck-mounted cranes offer a mobile and versatile lifting solution, suitable for a range of applications and industries.

Aerial Work Platforms

Manitex International's aerial work platforms provide a safe and efficient way to access high areas, featuring a range of platform heights and capacities.

8. Manitex International, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Manitex International, Inc. is medium due to the availability of alternative products and services in the market.

Bargaining Power Of Customers

The bargaining power of customers for Manitex International, Inc. is low due to the company's strong brand reputation and customer loyalty.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Manitex International, Inc. is medium due to the presence of multiple suppliers in the market.

Threat Of New Entrants

The threat of new entrants for Manitex International, Inc. is high due to the low barriers to entry in the industry.

Intensity Of Rivalry

The intensity of rivalry for Manitex International, Inc. is high due to the presence of several established players in the market.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	59.52%
Debt Cost	5.28%
Equity Weight	40.48%
Equity Cost	8.23%
WACC	6.48%
Leverage	147.03%

11. Quality Control: Manitex International, Inc. passed 1 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Inefficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Astec Industries

A-Score: 5.1/10

Value: 5.6

Growth: 3.4

Quality: 5.7

Yield: 2.0

Momentum: 8.5

Volatility: 5.7

1-Year Total Return ->

Manitowoc

A-Score: 4.4/10

Value: 8.5

Growth: 4.3

Quality: 4.3

Yield: 0.0

Momentum: 5.5

Volatility: 3.7

1-Year Total Return ->

Manitex International

A-Score: 3.8/10

Value: 4.6

Growth: 4.7

Quality: 3.5

Yield: 0.0

Momentum: 6.0

Volatility: 4.0

1-Year Total Return ->

Titan International

A-Score: 3.7/10

Value: 6.6

Growth: 4.7

Quality: 2.3

Yield: 0.0

Momentum: 6.0

Volatility: 2.7

1-Year Total Return ->

Hydrofarm Holdings

A-Score: 2.8/10

Value: 10.0

Growth: 2.3

Quality: 2.7

Yield: 0.0

Momentum: 1.0

Volatility: 1.0

1-Year Total Return ->

Columbus McKinnon

A-Score: 2.6/10

Value: 5.2

Growth: 2.1

Quality: 3.4

Yield: 2.0

Momentum: 0.5

Volatility: 2.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

40.13%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

6.48%

Manitex International, Inc. - US5634201082

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on MNTX

1.c. Company Highlights

More Volatile

Fairly Valued

Average Yield

Earnings Beats

Average Quality

Cheaper

Weak Momentum

Revenues Miss

Average Growth

Stable Momentum

Strong Momentum

Medium Volatility

Lower Quality

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.60%)

6. Segments

Lifting Equipment

Expected Growth: 4.5%

Rental Equipment

Expected Growth: 5.5%

7. Detailed Products

Boom Trucks

Knuckle Boom Cranes

Straight Mast Cranes

Truck-Mounted Cranes

Aerial Work Platforms

8. Manitex International, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Manitex International, Inc. passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

5.8$

Current Price

5.8$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA