Crane NXT has followed the market’s trajectory closely, rising in tandem with the S&P 500 over the past six months. The stock has climbed by 11.4% to $47.01 per share while the index has gained 12.9%.
Is CXT a buy right now? Find out in our full research report, it’s free.
Why Does CXT Stock Spark Debate?
Born from a corporate transformation completed in 2023, Crane NXT (NYSE: CXT) provides specialized technology solutions for payment processing, banknote security, and authentication systems for financial institutions and businesses.
Two Things to Like:
1. Surging Backlog Locks In Future Sales
In addition to reported revenue, backlog is a useful data point for analyzing Specialized Technology companies. This metric shows the value of outstanding orders that have not yet been executed or delivered, giving visibility into Crane NXT’s future revenue streams.
Crane NXT’s backlog punched in at $755.5 million in the latest quarter, and over the last two years, its year-on-year growth averaged 17.1%. This performance was fantastic and shows the company has a robust sales pipeline because it is accumulating more orders than it can fulfill. Its growth also suggests that customers are committing to Crane NXT for the long term, enhancing the business’s predictability. 
2. Projected Revenue Growth Is Remarkable
Forecasted revenues by Wall Street analysts signal a company’s potential. Predictions may not always be accurate, but accelerating growth typically boosts valuation multiples and stock prices while slowing growth does the opposite, though some deceleration is natural as businesses become larger.
Over the next 12 months, sell-side analysts expect Crane NXT’s revenue to rise by 10.2%. While this projection is below its 13.7% annualized growth rate for the past two years, it is admirable and implies the market is baking in success for its products and services.
One Reason to Be Careful:
New Investments Fail to Bear Fruit as ROIC Declines
A company’s ROIC, or return on invested capital, shows how much operating profit it makes compared to the money it has raised (debt and equity).
Unfortunately, Crane NXT’s ROIC has decreased over the last few years. Only time will tell if its new bets can bear fruit and potentially reverse the trend.
Final Judgment
Crane NXT’s positive characteristics outweigh the negatives. At $47.01 per share (or 10.6× forward P/E), is now the right time to buy the stock? See for yourself in our comprehensive research report, it’s free.
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