Latest Ratios: P/E Ratio 110.8x · EV/EBITDA 10.7x · ROE 1.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $795M | $433M | $326M | $600M | $322M | $659M | $462M | $624M | $525M | $1.4B | $824M |
| Enterprise Value | $1.3B | $939M | $715M | $985M | $678M | $1.0B | $672M | $774M | $657M | $1.6B | $1.0B |
| P/E Ratio → | 110.75 | 59.95 | 5.85 | 15.31 | — | 59.97 | — | 13.36 | — | 151.31 | — |
| P/S Ratio | 0.35 | 0.19 | 0.15 | 0.27 | 0.16 | 0.38 | 0.32 | 0.34 | 0.28 | 0.89 | 0.51 |
| P/B Ratio | 1.15 | 0.62 | 0.51 | 0.99 | 0.60 | 0.99 | 0.72 | 0.97 | 0.87 | 2.08 | 1.40 |
| P/FCF | — | — | 93.15 | — | 21.34 | 18.41 | — | — | — | 28.79 | — |
| P/OCF | 35.83 | 19.49 | 6.63 | 9.53 | 4.19 | 8.65 | — | — | — | 18.11 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.42 | 0.33 | 0.44 | 0.33 | 0.59 | 0.47 | 0.42 | 0.36 | 0.99 | 0.64 |
| EV / EBITDA | 10.69 | 7.71 | 6.24 | 6.47 | — | 10.92 | 8.83 | 5.39 | 38.44 | 39.16 | — |
| EV / EBIT | 22.17 | 18.74 | 14.30 | 12.41 | — | 22.18 | 24.81 | 8.44 | — | 54.96 | — |
| EV / FCF | — | — | 204.35 | — | 44.89 | 28.49 | — | — | — | 31.96 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.1% | 18.1% | 17.2% | 19.1% | 17.9% | 17.9% | 17.6% | 18.8% | 17.8% | 17.8% | 15.7% |
| Operating Margin | 2.6% | 2.6% | 2.4% | 4.1% | -4.6% | 2.7% | 2.7% | 5.9% | -1.0% | 0.1% | -9.5% |
| Net Profit Margin | 0.3% | 0.3% | 2.6% | 1.8% | -6.1% | 0.6% | -1.3% | 2.5% | -3.6% | 0.6% | -23.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.1% | 1.1% | 9.0% | 6.9% | -20.6% | 1.7% | -3.0% | 7.5% | -10.5% | 1.5% | -53.3% |
| ROA | 0.4% | 0.4% | 3.3% | 2.4% | -7.3% | 0.7% | -1.2% | 2.9% | -4.3% | 0.6% | -15.1% |
| ROIC | 3.9% | 3.9% | 3.9% | 7.4% | -7.3% | 3.7% | 3.5% | 10.6% | -1.8% | 0.1% | -7.7% |
| ROCE | 4.7% | 4.7% | 4.4% | 8.4% | -8.0% | 3.8% | 3.3% | 9.8% | -1.8% | 0.1% | -8.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.84 | 0.84 | 0.68 | 0.70 | 0.78 | 0.66 | 0.53 | 0.54 | 0.45 | 0.41 | 0.48 |
| Debt / EBITDA | 4.79 | 4.79 | 3.81 | 2.75 | — | 4.67 | 4.46 | 2.43 | 15.97 | 6.87 | — |
| Net Debt / Equity | — | 0.73 | 0.61 | 0.64 | 0.66 | 0.54 | 0.33 | 0.23 | 0.22 | 0.23 | 0.36 |
| Net Debt / EBITDA | 4.16 | 4.16 | 3.39 | 2.53 | — | 3.87 | 2.77 | 1.05 | 7.77 | 3.89 | — |
| Debt / FCF | — | — | 111.20 | — | 23.54 | 10.08 | — | — | — | 3.18 | — |
| Interest Coverage | 1.33 | 1.33 | 1.26 | 2.26 | -2.80 | 1.59 | 0.89 | 2.68 | -0.79 | 0.73 | -5.52 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.23 | 2.23 | 2.02 | 1.83 | 1.82 | 1.81 | 1.99 | 1.98 | 1.70 | 1.76 | 1.82 |
| Quick Ratio | 0.84 | 0.84 | 0.74 | 0.65 | 0.71 | 0.70 | 0.90 | 0.93 | 0.78 | 0.89 | 0.77 |
| Cash Ratio | 0.16 | 0.16 | 0.10 | 0.06 | 0.12 | 0.14 | 0.30 | 0.45 | 0.28 | 0.26 | 0.17 |
| Asset Turnover | — | 1.23 | 1.31 | 1.31 | 1.26 | 0.97 | 0.90 | 1.13 | 1.20 | 0.98 | 1.07 |
| Inventory Turnover | 2.68 | 2.68 | 2.96 | 2.70 | 2.73 | 2.45 | 2.51 | 3.23 | 3.35 | 3.28 | 3.17 |
| Days Sales Outstanding | — | 45.82 | 43.62 | 45.68 | 49.73 | 53.64 | 57.83 | 36.96 | 37.79 | 48.54 | 44.53 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.9% | 1.7% | 17.1% | 6.5% | — | 1.7% | — | 7.5% | — | 0.7% | — |
| FCF Yield | — | — | 1.1% | — | 4.7% | 5.4% | — | — | — | 3.5% | — |
| Buyback Yield | 0.0% | 0.0% | 1.7% | 0.9% | 0.9% | 0.0% | 2.6% | 1.2% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 1.7% | 0.9% | 0.9% | 0.0% | 2.6% | 1.2% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $36M | $36M | $36M | $35M | $35M | $35M | $36M | $36M | $36M | $34M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying MTW stock.
The Manitowoc Company, Inc.'s current P/E ratio is 110.8x. The historical average is 20.5x. This places it at the 95th percentile of its historical range.
The Manitowoc Company, Inc.'s current EV/EBITDA is 10.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.8x.
The Manitowoc Company, Inc.'s return on equity (ROE) is 1.1%. The historical average is 5.4%.
Based on historical data, The Manitowoc Company, Inc. is trading at a P/E of 110.8x. This is at the 95th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Manitowoc Company, Inc. has 18.1% gross margin and 2.6% operating margin.
The Manitowoc Company, Inc.'s Debt/EBITDA ratio is 4.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Thin margins and cyclical demand
Metrics are mathematically derived from official filings.
Thin Margins Mask Operating Leverage
According to the latest quarterly data, MTW's gross margin improved to 20.7% in Q2 2026 from 18.4% a year earlier, yet TTM net margin remains just 0.3%, indicating limited pricing power.
The Q2 2026 operating margin of 5.2% represents a significant improvement from 2.0% in the prior-year quarter, demonstrating that the company's high fixed-cost base can generate substantial operating leverage on modest revenue growth. However, the TTM net margin of 0.3% suggests that non-operating items and interest expenses continue to absorb most of the operating gains. The gross margin expansion to 20.7% is encouraging but remains below the 24.8% reported by Alamo Group, indicating that MTW still lacks the pricing power of more diversified industrial peers.
Returns Trapped Near Break-Even
As reported in the financial statements, MTW's ROIC reached 2.1% in Q2 2026, up from 0.7% a year earlier, but the 10-quarter average remains below 1%, suggesting the company is barely earning its cost of capital.
The improvement in ROIC to 2.1% in Q2 2026 is a positive sign, but it remains far below the 10.8% reported by Alamo Group and the 10.5% by McGrath RentCorp. The low returns are driven by a combination of thin operating margins and a relatively high invested capital base, which includes significant working capital tied up in inventory and receivables. The company's ROE of 2.0% in Q2 2026 is also well below the peer average, indicating that shareholders are not yet seeing meaningful returns on their equity investment.
Working Capital Drag Persists
Based on the latest quarterly data, MTW's cash conversion cycle shortened to 114 days in Q2 2026 from 140 days a year earlier, but inventory days of 147 remain elevated, indicating ongoing capital intensity.
The improvement in CCC from 140 to 114 days is driven by faster collection of receivables (DSO down from 47 to 43 days) and a slight extension of payables (DPO up from 60 to 76 days). However, inventory days of 147 are still high, reflecting the company's need to hold significant finished goods and used equipment for trade-ins. The asset turnover of 0.32x in Q2 2026 is low, indicating that the company generates only $0.32 of revenue per dollar of assets, which is typical for heavy manufacturing but underscores the need for volume to cover fixed costs.
Leverage Comfortable but Coverage Thin
According to the latest balance sheet data, MTW's debt-to-equity ratio improved to 0.74 in Q2 2026 from 0.77 a year earlier, but interest coverage of 3.33x remains modest, leaving little room for earnings shocks.
The D/E ratio of 0.74 is manageable and below the 0.84 reported in Q4 2025, indicating a modest deleveraging trend. However, the interest coverage ratio of 3.33x in Q2 2026, while improved from 1.14x a year earlier, is still below the 5x threshold that lenders typically consider comfortable. The D/EBITDA ratio of 11.25x in Q2 2026 is elevated, reflecting the cyclical trough in EBITDA, but the forward EV/EBITDA of 6.71x suggests the market expects EBITDA to recover. Investors should monitor whether the company can sustain the Q2 2026 operating momentum to maintain coverage ratios.
Liquidity Buffer Strengthens
As reported in the latest quarterly filings, MTW's current ratio improved to 2.11 in Q2 2026 from 1.77 in Q1 2024, while cash more than tripled to $95.8M, indicating a stronger liquidity position.
The current ratio of 2.11 is above the 2.0 threshold typically considered healthy, and the quick ratio of 0.75 suggests that the company relies heavily on inventory to meet short-term obligations. The cash build to $95.8M provides a buffer against cyclical downturns, but the negative FCF margin of -1.0% in Q2 2026 indicates that the company is still consuming cash in the current quarter. The improvement in liquidity is a positive sign, but the reliance on inventory and the thin margins mean that a demand shock could quickly erode this buffer.
P/E Misleads in Cyclical Trough
The most commonly misapplied ratio for MTW is the trailing P/E of 103.4x, which is distorted by near-zero earnings; the forward P/E of 32.7x and EV/EBITDA of 10.3x provide a more accurate picture of valuation.
The trailing P/E is meaningless for a company with TTM net margin of 0.3%, as small changes in earnings can cause the multiple to swing wildly. The forward P/E of 32.7x is more informative but still high relative to peers like Alamo Group (19.2x) and McGrath RentCorp (19.3x), suggesting the market is pricing in a significant earnings recovery. The EV/EBITDA of 10.3x is closer to the peer average, but the forward EV/EBITDA of 6.71x indicates that the market expects EBITDA to grow substantially. Investors should focus on EV/EBITDA and forward earnings power rather than trailing P/E when assessing MTW's valuation.