Crane NXT at Jefferies Global Industrials Conference 2026: growth stays in focus

On Thursday, 10 September 2026, Crane NXT (CXT) addressed the Jefferies Global Industrials Conference 2026 to highlight the growth of its diversified business since its 2023 separation from Crane Company. Management reported a significant increase in addressable market to approximately $14 billion, with adjusted EBITDA margins consistently in the mid-20% range and nearly all profits converting to free cash flow.

The shares were trading at $50.34, a slight decrease of 0.65% from the prior close of $50.67, within a 52-week range of $35.71 to $69. Crane NXT's stock has shown a strong 13% return over the past six months, suggesting it is undervalued based on current market conditions.

The company's operations now encompass currency, government ID, brand authentication, pharma, and food traceability, expanding its market opportunity beyond its initial separation. Crane NXT reported a backlog at an all-time high, with orders extending beyond two years, driven by central banks' demand for upgraded security features. The company is integrating Antares Vision to boost margins by 1,000 basis points over five years through operational improvements, targeting about $2.5 billion in sales.

Crane NXT aims for mid-single-digit revenue growth and expects net leverage to reach the low-2 times area by year-end 2024, maintaining a target below 3 times. The company allocates capital towards organic investment, acquisitions, dividends, and potential share repurchases. Management emphasized its focus on a few durable trends: the persistence of counterfeiting, the digitalization of supply chains, and the rapid growth of emerging markets.

Crane NXT generates about 25% of its revenue from emerging markets, where it offers its security and traceability solutions.

The company's currency business remains a core strength, with backlog extending to more than two years to meet central bank demands. Crane NXT's micro-optics technology, embedded in U.S. $100 bills, is recognized as virtually uncounterfeitable and is used in approximately 170 of the world's 1,000 currency denominations. The company plans to double micro-optics production capacity in the coming years, with the U.S. Treasury and U.S. passport substrate contracts recently renewed.

Crane NXT's dividend yield of 1.42% has been increased for three consecutive years, placing it among the most undervalued companies on InvestingPro's list.