Financials Crawford & Company

Equities

CRD.B

US2246331076

Multiline Insurance & Brokers

Market Closed - Nyse Other stock markets 04:00:02 2024-04-26 pm EDT			5-day change	1st Jan Change
9.72 ^USD	+1.57%		-0.82%	-25.69%

Mar. 18	Crawford & Company Announces Management Changes	CI
Mar. 11	Barrington Cuts Price Target on Crawford & Company to $11 From $14, Says Weather Fluctuations Impacted 4Q23 Results, Keeps Outperform Rating	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	579.4	388.5	385.2	264.2	642.4	478.9	-
Enterprise Value (EV) ¹	579.4	388.5	385.2	264.2	642.4	478.9	478.9
P/E ratio	53.4 x	13.8 x	13.1 x	-14.4 x	21.1 x	9.44 x	6.11 x
Yield	1.97%	2.36%	3.2%	4.52%	1.99%	3.29%	3.7%
Capitalization / Revenue	0.58 x	0.4 x	0.35 x	0.22 x	0.51 x	0.36 x	0.34 x
EV / Revenue	0.58 x	0.4 x	0.35 x	0.22 x	0.51 x	0.36 x	0.34 x
EV / EBITDA	5.13 x	3.68 x	3.92 x	2.74 x	5.41 x	4.02 x	3.29 x
EV / FCF	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-
Price to Book	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	53,124	53,155	51,432	48,405	48,887	49,182	-
Reference price ²	10.15	7.200	7.490	5.310	13.08	9.720	9.720
Announcement Date	3/5/20	3/4/21	3/14/22	3/6/23	3/4/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	1,006	982.5	1,102	1,189	1,267	1,314	1,397
EBITDA ¹	112.8	105.6	98.33	96.33	118.7	119.1	145.5
EBIT ¹	64.45	72.74	62.5	63.47	85.36	78.13	103.7
Operating Margin	6.41%	7.4%	5.67%	5.34%	6.74%	5.95%	7.42%
Earnings before Tax (EBT) ¹	23.64	39.09	43.86	5.046	47.36	56.56	79.01
Net income ¹	12.48	28.3	30.69	-18.3	30.61	38.56	56.68
Net margin	1.24%	2.88%	2.79%	-1.54%	2.42%	2.93%	4.06%
EPS ²	0.1900	0.5200	0.5700	-0.3700	0.6200	1.030	1.590
Free Cash Flow	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-
Dividend per Share ²	0.2000	0.1700	0.2400	0.2400	0.2600	0.3200	0.3600
Announcement Date	3/5/20	3/4/21	3/14/22	3/6/23	3/4/24	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	288.5	292.9	279	293.3	294.9	322.2	313	320.7	325.6	296.1	304	336.9	350.7	322.5	332.1
EBITDA ¹	29.54	17.59	21.86	21.79	21.9	30.79	32.84	31.54	38.64	15.69	22.94	30.52	36.15	29.54	-
EBIT ¹	17.63	9.06	13.09	12.88	14.2	23.3	24.87	22.8	29.94	7.75	12.91	19.88	25.99	19.34	-
Operating Margin	6.11%	3.09%	4.69%	4.39%	4.81%	7.23%	7.95%	7.11%	9.2%	2.62%	4.25%	5.9%	7.41%	6%	-
Earnings before Tax (EBT) ¹	15.98	3.988	7.582	8.605	-28.54	17.4	16	13.55	18.96	-1.15	7.494	14.84	20.11	14.12	15.45
Net income ¹	11.2	1.653	5.096	5.83	-15.14	-14.09	10.68	8.427	12.32	-0.818	5.048	9.843	14.01	9.66	-
Net margin	3.88%	0.56%	1.83%	1.99%	-5.13%	-4.37%	3.41%	2.63%	3.78%	-0.28%	1.66%	2.92%	3.99%	3%	-
EPS ²	0.2100	0.0300	0.1000	0.1200	-0.3100	-0.2900	-	0.1700	0.2500	-0.0200	0.1900	0.2500	0.3000	0.2800	-
Dividend per Share ²	0.0600	0.0600	0.1200	0.0600	0.0600	0.0600	0.0600	-	0.0700	0.0700	0.0800	0.0800	0.0800	0.0800	0.0900
Announcement Date	11/8/21	3/14/22	5/9/22	8/8/22	11/8/22	3/6/23	5/3/23	8/3/23	11/6/23	3/4/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	22.6%	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-
Announcement Date	3/5/20	3/4/21	3/14/22	3/6/23	3/4/24	-	-

¹USD in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Crawford & Company

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.72 USD

Average target price

11 USD

Spread / Average Target

+13.17%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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