Crawford & Company (CRD-A) 10-Year Financial Performance & Capital Metrics

CRD-A • • Insurance & Managed Care

Financial ServicesInsurance BrokersClaims Management & Risk ServicesClaims Administration & TPA Services

AboutCrawford & Company provides claims management and outsourcing solutions for carriers, brokers, and corporations in the United States, the United Kingdom, Europe, Canada, Australia, and internationally. The company's Crawford Loss Adjusting provides claims management services to insurance companies and self-insured entities risk including property, public liability, automobile, and marine insurances. Its Crawford TPA Solutions segment provides claims and risk management services for corporations in the self-insured or commercially-insured marketplace; desktop claim adjusting and claims evaluation services; initial loss reporting services for claimants; and loss mitigation and risk management information services, as well as administers loss funds established to pay claims. This segment also offers third party administration for workers' compensation, auto and liability, disability absence and medical management, and accident and health products. The company's Crawford Platform Solutions segment offers insurance through service lines, such as Contractor Connection and Networks, including losses caused by natural disasters, such as fires, hailstorms, hurricanes, earthquakes, floods, as well as man-made disasters, such as oil spills, and chemical releases. It also provides customer-centric solutions for various loss types comprising high-frequency and low-complexity claims to large complex repairs; and outsourced contractor management services to personal and commercial insurance carriers and consumer markets. The company was founded in 1941 and is headquartered in Atlanta, Georgia.Show more

Revenue $1.34B +1.8%
Combined Ratio 94.94% +0.5%
Net Income $27M -13.1%
Return on Equity 18.01% -22.6%
Medical Cost Ratio 72.59% -0.2%
Operating Margin 5.06% -8.1%
Net Margin 1.98% -14.7%
ROA 3.32% -13.8%
Equity / Assets 19.35% +10.6%
Book Value per Share 3.13 +10.9%
Tangible BV/Share -2.16 +7.4%
Debt/Equity 1.99 -10.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 94.9% combined ratio
✓Strong 5Y profit CAGR of 16.3%
✓Strong Piotroski F-Score: 7/9
✓Healthy dividend yield of 2.5%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.98%

5Y5.06%

3Y5.59%

TTM2.67%

Profit (Net Income) CAGR

10Y-1.4%

5Y16.33%

3Y-4.66%

TTM62.52%

EPS CAGR

10Y-0.72%

5Y24.11%

3Y-2.4%

TTM61.17%

ROCE

10Y Avg11.98%

5Y Avg11.57%

3Y Avg12.47%

Latest13.52%

Peer Comparison

Claims Administration & TPA Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CRD-ACrawford & Company	332.81M	11.06	20.87	1.83%	2.44%	17.55%	3%	1.99

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	1.24B	1.18B	1.16B	1.12B	1.05B	1.02B	1.14B	1.23B	1.32B	1.34B
Revenue Growth %	0.02%	-0.05%	-0.01%	-0.04%	-0.07%	-0.03%	0.12%	0.08%	0.07%	0.02%
Medical Costs & Claims+	940.35M	850.11M	842.17M	808M	752.77M	737.32M	847.43M	924.87M	957.85M	973.42M
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	301.17M	327.48M	321.54M	314.97M	294.85M	278.88M	291.8M	306.35M	359.07M	367.55M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0%	0.09%	-0.02%	-0.02%	-0.06%	-0.05%	0.05%	0.05%	0.17%	0.02%
Operating Expenses+	276M	246.41M	251.75M	242.42M	227.17M	218.95M	244.85M	255.75M	286.51M	299.66M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	43.5M	40.74M	41.66M	44.08M	40.51M	40.11M	40.18M	36.1M	35.74M	36.2M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	25.17M	81.06M	69.8M	72.55M	67.68M	59.92M	46.95M	50.6M	72.57M	67.88M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.61%	2.22%	-0.14%	0.04%	-0.07%	-0.11%	-0.22%	0.08%	0.43%	-0.06%
EBITDA+	68.67M	121.8M	111.45M	116.63M	108.2M	100.03M	87.13M	86.7M	108.31M	104.08M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	8.98M	9.93M	9.91M	11.4M	11.52M	8.19M	6.98M	10.97M	19.81M	20.3M
Non-Operating Income	47.96M	7.89M	17.63M	17.02M	32.53M	0	-3.9M	34.59M	5.4M	6.47M
Pretax Income+	-31.77M	63.24M	42.26M	44.13M	23.64M	39.09M	43.86M	5.05M	47.36M	41.11M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	13.83M	25.57M	15.04M	18.54M	14.11M	12.01M	13.32M	23.58M	17.1M	14.58M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-45.49M	35.97M	27.66M	25.98M	12.48M	28.3M	30.69M	-18.3M	30.61M	26.6M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-2.49%	1.79%	-0.23%	-0.06%	-0.52%	1.27%	0.08%	-1.6%	2.67%	-0.13%
EPS (Diluted)+	-0.79	0.67	0.52	0.50	0.18	0.54	0.57	-0.37	0.62	0.53
EPS Growth %	-2.39%	1.85%	-0.22%	-0.04%	-0.64%	2%	0.06%	-1.65%	2.68%	-0.15%
EPS (Basic)	-0.79	0.68	0.53	0.51	0.18	0.54	0.58	-0.37	0.63	0.54
Diluted Shares Outstanding	57.58M	53.68M	53.2M	51.96M	54.06M	53.38M	53.98M	49.47M	49.59M	49.74M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	783.41M	735.86M	787.94M	701.44M	760.01M	752.98M	852.64M	791.51M	799.2M	803.75M
Asset Growth %	-0.01%	-0.06%	0.07%	-0.11%	0.08%	-0.01%	0.13%	-0.07%	0.01%	0.01%
Total Investment Assets+	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Total Current Assets+	370.18M	364.73M	370.37M	320.85M	315.21M	302M	345.92M	351.27M	369.35M	374.23M
Cash & Equivalents	76.07M	81.57M	54.01M	53.12M	51.8M	44.66M	53.23M	46.01M	58.36M	55.41M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	0	0	0	0	6.02M	917K
Goodwill & Intangibles+	280.47M	259.64M	283.89M	254.12M	222.17M	208.73M	289.9M	247.64M	255.28M	262.77M
Goodwill	95.62M	91.75M	96.92M	96.89M	80.64M	66.54M	116.53M	76.62M	76.72M	76.37M
Intangible Assets	184.86M	167.89M	186.97M	157.23M	141.53M	142.2M	173.37M	171.01M	178.56M	186.4M
PP&E (Net)	38.05M	29.61M	41.66M	34.3M	133.78M	145.72M	133.09M	121.14M	111.36M	99.36M
Other Assets	47.33M	51.5M	67.66M	70.02M	70.88M	70.94M	62.46M	51.89M	36.97M	42.09M
Total Liabilities	659.05M	576.6M	594.2M	520.5M	595.14M	566.06M	641.24M	668.13M	659.37M	648.2M
Total Debt+	247.28M	188.01M	225.67M	190.41M	294.78M	239.57M	288.67M	346.4M	311.53M	309.49M
Net Debt	171.22M	106.44M	171.66M	137.29M	242.98M	194.91M	235.44M	300.39M	253.16M	254.08M
Long-Term Debt	223.71M	186.17M	199.64M	167.12M	148.35M	111.28M	163.98M	211.64M	194.27M	200.24M
Short-Term Debt	19.96M	30K	24.64M	23.2M	28.53M	1.57M	10.62M	26.97M	14.73M	17.74M
Total Current Liabilities+	258.35M	230.29M	256.59M	225.31M	236.26M	242.79M	303.86M	279.49M	299.29M	299.73M
Accounts Payable	44.62M	51.99M	49.3M	37.83M	34.38M	41.54M	48.47M	50.85M	45.11M	50.6M
Deferred Revenue	46.55M	37.46M	37.79M	30.96M	28.29M	27.23M	32.12M	29.28M	35.54M	36.13M
Other Current Liabilities	69.45M	101.38M	105.02M	97.69M	79.81M	93.24M	109.24M	91.9M	131.08M	129.18M
Deferred Taxes	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Other Liabilities	175.34M	133.42M	114.63M	106.35M	99.32M	94.14M	60.88M	67.47M	62.84M	57.8M
Total Equity+	124.35M	159.26M	193.74M	180.95M	164.88M	186.93M	211.4M	123.38M	139.83M	155.55M
Equity Growth %	-0.31%	0.28%	0.22%	-0.07%	-0.09%	0.13%	0.13%	-0.42%	0.13%	0.11%
Shareholders Equity	113.69M	153.88M	182.32M	171.29M	159.32M	186.94M	211.97M	124.54M	141.62M	157.21M
Minority Interest	10.66M	5.38M	11.42M	9.66M	5.56M	-11K	-568K	-1.17M	-1.79M	-1.66M
Retained Earnings	239.16M	261.56M	269.69M	273.61M	249.55M	265.25M	266.37M	213.09M	228.56M	237.95M
Common Stock	55.23M	55.99M	55.94M	55.34M	53.28M	53.36M	51.81M	48.61M	49.08M	49.27M
Accumulated OCI	-222.63M	-211.77M	-196.48M	-216.45M	-206.91M	-198.86M	-180.44M	-215.32M	-218.62M	-217.13M
Return on Equity (ROE)	-0.3%	0.25%	0.16%	0.14%	0.07%	0.16%	0.15%	-0.11%	0.23%	0.18%
Return on Assets (ROA)	-0.06%	0.05%	0.04%	0.03%	0.02%	0.04%	0.04%	-0.02%	0.04%	0.03%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	1.99x	1.18x	1.16x	1.05x	1.79x	1.28x	1.37x	2.81x	2.23x	1.99x
Book Value per Share	2.16	2.97	3.64	3.48	3.05	3.50	3.92	2.49	2.82	3.13
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	61.66M	98.86M	40.76M	52.42M	75.22M	93.18M	54.32M	27.63M	103.79M	51.62M
Operating CF Growth %	8.33%	0.6%	-0.59%	0.29%	0.43%	0.24%	-0.42%	-0.49%	2.76%	-0.5%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	-45.6M	37.68M	27.22M	25.59M	9.53M	27.07M	30.55M	-18.53M	30.61M	26.53M
Depreciation & Amortization	43.5M	40.74M	41.66M	44.08M	40.51M	40.11M	40.18M	36.1M	35.74M	36.2M
Stock-Based Compensation	3.23M	5.25M	6.66M	6.2M	4.11M	4.38M	7.58M	4.92M	5.6M	5.77M
Deferred Taxes	4.12M	10.53M	-2.36M	7.95M	3.04M	-9.01M	-2.99M	7.4M	-12.28M	-2.53M
Other Non-Cash Items	48.96M	66K	19.6M	21.33M	17.48M	3.91M	104K	38.24M	4.32M	-997K
Working Capital Changes	7.46M	4.6M	-52.02M	-52.72M	544K	26.7M	-21.1M	-40.49M	39.79M	-13.34M
Cash from Investing+	-101.18M	-32.97M	-81.87M	6.45M	-23.42M	-27.04M	-70.83M	-57.88M	-36.6M	-41.65M
Capital Expenditures	-32.92M	-29.2M	-44.91M	-30.02M	-8.69M	-37.38M	-9.22M	-6.84M	-4.89M	0
Acquisitions	-68.26M	-3.67M	-36.03M	36.69M	-2.3M	9.98M	-46.4M	-26.31M	0	0
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale/Maturity of Investments	0	0	0	0	0	0	0	0	0	0
Other Investing	-20.77M	-95K	-926K	-218K	-12.44M	358K	-15.2M	-24.73M	-31.71M	-41.65M
Cash from Financing+	67.89M	-55.15M	10.34M	-58.74M	-53.41M	-74.37M	24.66M	25.94M	-54.68M	-12.86M
Dividends Paid	-13.51M	-13.56M	-13.7M	-13.53M	-13.17M	-9.64M	-12.66M	-11.84M	-12.7M	-13.76M
Share Repurchases	-1.72M	-1.34M	-7.42M	-11.52M	-26.21M	-2.67M	-19.13M	-26.75M	-2.73M	-3.87M
Stock Issued	1.32M	1.74M	1.15M	1.39M	0	0	0	0	0	0
Debt Issuance (Net)	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	1000K
Other Financing	-380K	8K	34.63M	-320K	819K	13K	-4.12M	-2.87M	-5.75M	-3.62M
Net Change in Cash+	23.61M	5.5M	-27.56M	-892K	-1.32M	-7.15M	9.03M	-7.04M	12.9M	-3.22M
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	293K	1000K	881K	-1000K	386K	-326K
Cash at Beginning	52.46M	76.07M	81.57M	54.01M	53.12M	51.8M	44.66M	53.69M	46.65M	59.55M
Cash at End	76.07M	81.57M	54.01M	53.12M	51.8M	44.66M	53.69M	46.65M	59.55M	56.33M
Free Cash Flow+	28.74M	69.67M	-4.15M	22.4M	54.09M	55.8M	23.37M	-6.96M	67.19M	9.97M
FCF Growth %	2.27%	1.42%	-1.06%	6.39%	1.41%	0.03%	-0.58%	-1.3%	10.65%	-0.85%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	0.5	1.3	-0.08	0.43	1	1.05	0.43	-0.14	1.35	0.2

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	97.97%	93.12%	94%	93.54%	93.54%	94.1%	95.88%	95.89%	94.49%	94.94%
Medical Cost Ratio	75.74%	72.19%	72.37%	71.95%	71.86%	72.56%	74.39%	75.12%	72.73%	72.59%
Return on Equity (ROE)	-29.96%	25.36%	15.67%	13.87%	7.22%	16.09%	15.41%	-10.94%	23.26%	18.01%
Return on Assets (ROA)	-5.78%	4.73%	3.63%	3.49%	1.71%	3.74%	3.82%	-2.23%	3.85%	3.32%
Equity / Assets	15.87%	21.64%	24.59%	25.8%	21.69%	24.82%	24.79%	15.59%	17.5%	19.35%
Book Value / Share	2.16	2.97	3.64	3.48	3.05	3.5	3.92	2.49	2.82	3.13
Debt / Equity	1.99x	1.18x	1.16x	1.05x	1.79x	1.28x	1.37x	2.81x	2.23x	1.99x
Revenue Growth	2.02%	-5.15%	-1.18%	-3.5%	-6.71%	-3%	12.11%	8.08%	6.96%	1.83%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Service	-	-	-	1.07B	-	-	-	-	1.27B	1.29B
Service Growth	-	-	-	-	-	-	-	-	-	2.00%
Reimbursements	-	-	-	-	41.83M	33.7M	37.2M	41.74M	49.79M	48.46M
Reimbursements Growth	-	-	-	-	-	-19.42%	10.37%	12.22%	19.27%	-2.67%
International	506.65M	479.88M	449.89M	-	-	-	-	-	-	-
International Growth	-	-5.28%	-6.25%	-	-	-	-	-	-	-
Broadspire	121.88M	127.62M	133.66M	-	-	-	-	-	-	-
Broadspire Growth	-	4.71%	4.74%	-	-	-	-	-	-	-
Garden City Group	128.22M	96.23M	76.2M	-	-	-	-	-	-	-
Garden City Group Growth	-	-24.95%	-20.81%	-	-	-	-	-	-	-
U.S. Services	183.16M	160.48M	8.74M	-	-	-	-	-	-	-
U.S. Services Growth	-	-12.39%	-94.55%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
International Countries_ Otherthan U K And Canada	-	-	-	-	-	-	223.64M	235.64M	239.04M	250.25M
International Countries_ Otherthan U K And Canada Growth	-	-	-	-	-	-	-	5.37%	1.44%	4.69%
International Countries_Other than U.K. and Canada	210.09M	201.32M	201.34M	-	-	-	-	-	-	-
International Countries_Other than U.K. and Canada Growth	-	-4.18%	0.01%	-	-	-	-	-	-	-
CANADA	110.18M	106.7M	108.37M	-	-	-	-	-	-	-
CANADA Growth	-	-3.16%	1.57%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Crawford & Company (CRD-A) has a price-to-earnings (P/E) ratio of 20.9x. This is roughly in line with market averages.

Growth & Financials

Crawford & Company (CRD-A) grew revenue by 1.8% over the past year. Growth has been modest.

Yes, Crawford & Company (CRD-A) is profitable, generating $32.6M in net income for fiscal year 2024 (2.0% net margin).

Dividend & Returns

Yes, Crawford & Company (CRD-A) pays a dividend with a yield of 2.50%. This makes it attractive for income-focused investors.

Crawford & Company (CRD-A) has a return on equity (ROE) of 18.0%. This is reasonable for most industries.

Industry Metrics

Crawford & Company (CRD-A) has a combined ratio of 94.9%. A ratio below 100% indicates underwriting profitability.

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