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1. Company Snapshot

1.a. Company Description

The Manitowoc Company, Inc.provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, and the Asia Pacific.It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand.


The company also provides crane product parts and services; and crane rebuilding, remanufacturing, and training services.Its crane products are used in various applications, including energy production/distribution and utilities; petrochemical and industrial projects; infrastructure, such as road, bridge, and airport construction; and commercial and high-rise residential construction.The company serves a range of customers, including dealers, rental companies, contractors, and government entities in the petrochemical, industrial, commercial construction, power and utilities, infrastructure, and residential construction end markets.


The Manitowoc Company, Inc.was founded in 1902 and is headquartered in Milwaukee, Wisconsin.

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1.b. Last Insights on MTW

The Manitowoc Company's recent performance was negatively impacted by declining revenue in the Americas and EURAF regions, despite growth in the MEAP segment. Profitability metrics are concerning, with significant drops in operating cash flow and EBITDA. The company's net income rose due to tax benefits and cost reductions, but this was not enough to offset the decline in revenue. Additionally, the company's recent anti-dumping petition filed with the U.S. International Trade Commission and U.S. Department of Commerce may lead to increased regulatory scrutiny and potential trade disruptions.

1.c. Company Highlights

2. The Manitowoc Company Delivers Strong Q3 2025 Results

The Manitowoc Company's third-quarter 2025 revenue was $553 million, a 5% year-over-year increase, with adjusted EBITDA of $34 million, representing a 30% increase. The adjusted EBITDA margin was 6%, up 120 basis points year-over-year. Earnings per share (EPS) came in at $0.14, below analyst estimates of $0.268. The company's revenue growth was driven by a 16% increase in orders, which totaled $491 million, and a backlog that ended at $667 million.

Publication Date: Nov -24

📋 Highlights
  • Revenue Growth:: $553 million (up 5% YoY) in Q3 2025.
  • Adjusted EBITDA Surge:: $34 million (30% YoY increase) with a 6% margin (+120 bps YoY).
  • Orders Expansion:: $491 million (16% YoY growth) and $667 million backlog.
  • Non-New Machine Sales Record:: $667 million trailing 12-month (8% growth YoY).
  • Regional Momentum:: Europe tower crane orders +34% YoY; North America orders +20% despite tariff challenges.

Segment Performance

Non-new machine sales reached a record $667 million on a trailing 12-month basis, growing 8% over the last 12 months. Europe saw significant improvements, with tower crane orders growing 34% year-over-year, driven by a strong market in the Middle East. North America also saw a 20% increase in total orders, although uncertainty due to tariffs remains a concern.

Tariff Impact and Mitigation

The company expects to mitigate 80-90% of the estimated $44 million in 2025 gross tariff costs. As the company continues to execute its CRANES+50 strategy, growth is expected to be driven by non-new machine sales, which have grown 8% to $667 million over the last 12 months.

Valuation and Outlook

With a P/E Ratio of 6.72 and an EV/EBITDA of 8.03, the stock appears to be reasonably valued. Analysts estimate revenue growth at 6.9% for next year. The company's ROIC is 22.01%, indicating efficient capital allocation. The Net Debt / EBITDA ratio is 4.6, suggesting a relatively high debt burden. As the company continues to execute its strategy, investors will be watching for progress on mitigating tariffs and driving growth.

3. NewsRoom

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The Manitowoc Company, Inc. $MTW Stock Position Lifted by Groupe la Francaise

Dec -04

Source: defenseworld.net

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Manitowoc Recognized Again as One of 2025 “Best for Vets” Employers by Military Times

Nov -17

Source: businesswire.com

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The Manitowoc Company, Inc. (NYSE:MTW) Receives $10.67 Consensus PT from Brokerages

Nov -16

Source: defenseworld.net

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The Manitowoc Company, Inc. $MTW Shares Acquired by Acadian Asset Management LLC

Nov -14

Source: defenseworld.net

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European Mobile Crane Industry Launches Trade Complaint Against Unfair Imports of Chinese Mobile Cranes

Nov -13

Source: businesswire.com

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The Manitowoc Company to Present and Host 1x1 Investor Meetings at the Southwest IDEAS Conference on Wednesday, November 19, 2025

Nov -10

Source: businesswire.com

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The Manitowoc Company, Inc. (MTW) Q3 2025 Earnings Call Transcript

Nov -06

Source: seekingalpha.com

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The Manitowoc Company Reports Third-Quarter 2025 Financial Results

Nov -05

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.59%)

6. Segments

New Machine

Expected Growth: 3.0%

The Manitowoc Company's new machine drives 3.0% growth, fueled by increasing demand for crane solutions in infrastructure development, rising adoption in emerging markets, and innovative product features enhancing customer efficiency and productivity.

Non-new Machine

Expected Growth: 1.5%

The 1.5% growth of Non-new Machines from The Manitowoc Company, Inc. is driven by increasing demand from construction and infrastructure projects, steady replacement of aging fleets, and modest growth in crane rental markets. Additionally, the company's focus on aftermarket parts and services, as well as its efforts to improve operational efficiency, contribute to this growth rate.

7. Detailed Products

Ice Machines

Manitowoc Ice, a brand of The Manitowoc Company, Inc., offers a wide range of ice machines that produce cube, flake, and nugget ice for various applications.

Ice and Beverage Dispensers

Manitowoc's ice and beverage dispensers provide a convenient and sanitary way to dispense ice and beverages in high-volume settings.

Fountain Equipment

Manitowoc's fountain equipment, including fountain dispensers and syrup pumps, are designed for high-volume beverage dispensing in restaurants, convenience stores, and other retail environments.

Walk-in Coolers and Freezers

Manitowoc's walk-in coolers and freezers provide reliable and energy-efficient cold storage solutions for commercial kitchens, restaurants, and foodservice establishments.

Reach-in Refrigerators and Freezers

Manitowoc's reach-in refrigerators and freezers offer compact and energy-efficient cold storage solutions for commercial kitchens, restaurants, and foodservice establishments.

Merchandisers and Display Cases

Manitowoc's merchandisers and display cases provide attractive and functional solutions for showcasing and storing food and beverages in retail environments.

8. The Manitowoc Company, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for The Manitowoc Company, Inc. is medium due to the presence of alternative products and services in the crane and foodservice equipment industries.

Bargaining Power Of Customers

The bargaining power of customers is high due to the concentration of customers in the crane industry and the ability of large customers to negotiate prices.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low due to the presence of multiple suppliers in the market and the company's ability to negotiate prices.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the crane and foodservice equipment industries, including the need for significant capital investment and technical expertise.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of several established competitors in the crane and foodservice equipment industries, leading to a competitive market environment.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 38.15%
Debt Cost 9.47%
Equity Weight 61.85%
Equity Cost 14.16%
WACC 12.37%
Leverage 61.68%

11. Quality Control: The Manitowoc Company, 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

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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

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Manitowoc

A-Score: 4.4/10

Value: 8.5

Growth: 4.3

Quality: 4.3

Yield: 0.0

Momentum: 5.5

Volatility: 3.7

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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

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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

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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

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UrbanGro

A-Score: 2.5/10

Value: 9.0

Growth: 3.1

Quality: 2.9

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

12.27$

Current Price

12.27$

Potential

-0.00%

Expected Cash-Flows