MoatScopeCrane CompanyCR
Spin-off from Crane NXT (formerly Crane Holdings, Co.) (CXT) · Apr 3, 2023 · NYSE
one share of Crane Company for every one share of Crane Holdings, Co.
Documents
Both companies today
Moat ratings, quality scores and fair value estimates are MoatScope research opinions and refresh with the data pipeline. Price / FV below 1.00× means the shares trade under our base-case estimate.
What is being separated
Crane Company is a global provider of highly engineered, mission-critical industrial products through two platforms, Aerospace & Electronics and Process Flow Technologies, which together produced 89% of revenue in 2021, with the balance from Engineered Materials. The Payment & Merchandising Technologies segment stayed with the parent, renamed Crane NXT.
Stated rationaleCrane Holdings said two stand-alone companies would each have a focused strategy and capital allocation suited to distinct end markets.
The four questions
Indiscriminate selling
PartialManagement incentives
PartialThe hidden jewel
StrongLeverage
AbsentThe write-up
Crane Holdings separated on April 3, 2023, distributing Crane Company — aerospace and electronics plus process flow technologies — one-for-one to shareholders, while the legal parent renamed itself Crane NXT and kept the payment and currency technology businesses under the CXT listing. Crane Company incurred about $300 million of debt at separation and paid a matching distribution to Crane NXT. On MoatScope's framework Crane Company carries a Narrow moat and a quality score of 58 at an $11.8 billion market value, trading at $204.69 against a base-case fair value estimate of $159.29 — 1.28×. Crane NXT carries a Narrow moat and a quality score of 54 at $2.9 billion, trading at $50.06 against a fair value estimate of $85.51 — 0.57×.
Not investment advice. Terms are as stated in the latest filing; spin-off shares are often thinly covered and volatile in their first months. Write-up dated Sep 8, 2026.