Cash flow Cranswick plc

Equities

CWK

GB0002318888

Food Processing

Real-time Estimate Cboe Europe Other stock markets 09:50:51 13/01/2026 GMT			5-day change	1st Jan Change
4,965.00 ^GBX	-0.10%		+1.43%	+0.20%

12-15	Cranswick plc, H1 2026 Earnings Call, Nov 25, 2025
11-27	Berenberg Boosts Cranswick Price Target, Estimates After Fiscal H1 Results; Hold Rating Reiterated	MT

4415ee97d3db307679f1a0d.duqpkkWn0Gkpfz76IL6v-7x3K7f7LB-7XTEknXK3zPM.Hbvo-WiR5CoEHnDMatGXtPYRce-QXHGWPFdc2ArYgbksoJH9LNThXhBSXQ

Published financial data: CRANSWICK PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	1.9B	2.01B	2.32B	2.6B	2.72B
Total Revenues	1.9B	2.01B	2.32B	2.6B	2.72B
Cost of Goods Sold, Total	1.63B	1.73B	2.02B	2.22B	2.3B
Gross Profit	269M	281M	301M	375M	420M
Selling General & Admin Expenses, Total	136M	140M	164M	195M	212M
Amortization of Goodwill and Intangible Assets - (IS)	3.5M	4.2M	5.2M	5M	3.6M
Other Operating Expenses, Total	140M	144M	169M	200M	216M
Operating Income	129M	137M	132M	175M	204M
Interest Expense, Total	-3M	-3.8M	-6.5M	-8.9M	-9.2M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-3M	-3.8M	-6.5M	-8.9M	-9.2M
Income (Loss) On Equity Invest.	-	-	-	400K	200K
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	126M	133M	125M	166M	195M
Merger & Related Restructuring Charges	-	-600K	-100K	-600K	-700K
Impairment of Goodwill	-	-	-	-15.1M	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Asset Writedown	-11.4M	-2.8M	4.6M	1.9M	-12.7M
Insurance Settlements	-	-	9.9M	5.7M	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	115M	130M	140M	158M	182M
Income Tax Expense	22.3M	26.4M	28.1M	45.3M	47.3M
Earnings From Continuing Operations	92.5M	104M	111M	113M	134M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	92.5M	104M	111M	113M	134M
Net Income - (IS)	92.5M	104M	111M	113M	134M
Net Income to Common Incl Extra Items	92.5M	104M	111M	113M	134M
Net Income to Common Excl. Extra Items	92.5M	104M	111M	113M	134M
Per Share Items
Net EPS - Basic	1.76	1.96	2.08	2.1	2.51
Basic EPS - Continuing Operations	1.76	1.96	2.08	2.1	2.51
Basic Weighted Average Shares Outstanding	52.47M	52.92M	53.46M	53.78M	53.58M
Net EPS - Diluted	1.76	1.95	2.08	2.1	2.46
Diluted EPS - Continuing Operations	1.76	1.95	2.08	2.1	2.46
Diluted Weighted Average Shares Outstanding	52.71M	53.17M	53.59M	53.96M	54.54M
Normalized Basic EPS	1.5	1.57	1.46	1.94	2.27
Normalized Diluted EPS	1.5	1.57	1.46	1.93	2.23
Dividend Per Share	0.7	0.76	0.79	0.9	1.01
Payout Ratio	30.16	31.69	32.59	38.82	36.86
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	185M	189M	191M	246M	276M
EBITA	133M	141M	137M	180M	208M
EBIT	129M	137M	132M	175M	204M
EBITDAR	186M	190M	192M	247M	277M
Effective Tax Rate - (Ratio)	19.42	20.32	20.14	28.6	26.05
Current Domestic Taxes	26.1M	13.2M	25.8M	38.5M	42.3M
Total Current Taxes	26.1M	13.2M	25.8M	38.5M	42.3M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-3.8M	13.2M	2.3M	6.8M	5M
Normalized Net Income	78.88M	83.31M	78.19M	104M	122M
Interest Capitalized	-	-	-	300K	-
Interest on Long-Term Debt	3M	3.8M	6.5M	8.9M	9.2M
Non-Cash Pension Expense	-200K	-100K	-100K	-	-
Supplemental Operating Expense Items
Selling and Marketing Expenses	69M	80.3M	94.8M	100M	113M
General and Administrative Expenses	67.7M	59.5M	69.4M	94.7M	99.5M
Research And Development Expense From Footnotes	6.9M	9.1M	10.8M	29M	24M
Net Rental Expense, Total	1M	1M	1.2M	1.9M	1.7M
Imputed Operating Lease Interest Expense	160K	256K	548K	1.13M	821K
Imputed Operating Lease Depreciation	840K	744K	652K	773K	879K
Stock-Based Comp., Other (Total)	6M	6.9M	4.7M	8.8M	8.4M
Total Stock-Based Compensation	6M	6.9M	4.7M	8.8M	8.4M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	39M	200K	20.3M	27M	5.9M
Total Cash And Short Term Investments	39M	200K	20.3M	27M	5.9M
Accounts Receivable, Total	205M	226M	266M	295M	317M
Other Receivables	9.7M	10.2M	12M	17.7M	29.9M
Notes Receivable	-	-	-	-	-
Total Receivables	215M	236M	278M	313M	347M
Inventory	123M	156M	186M	197M	219M
Prepaid Expenses	6.8M	8.7M	11M	14.6M	14.9M
Other Current Assets, Total	900K	-	100K	-	300K
Total Current Assets	384M	400M	495M	552M	587M
Gross Property Plant And Equipment	700M	811M	902M	1.02B	1.2B
Accumulated Depreciation	-255M	-310M	-362M	-413M	-468M
Net Property Plant And Equipment	446M	500M	540M	611M	729M
Long-term Investments	-	-	-	900K	100K
Goodwill	193M	214M	213M	204M	206M
Other Intangibles, Total	10.6M	17.5M	10.2M	9.9M	4.7M
Other Long-Term Assets, Total	8.1M	11M	6.5M	6.6M	4.3M
Total Assets	1.04B	1.14B	1.26B	1.38B	1.53B
Liabilities
Accounts Payable, Total	131M	147M	168M	180M	191M
Accrued Expenses, Total	65.4M	81.4M	84.5M	110M	96.3M
Current Portion of Leases	12.5M	13.8M	14.4M	17.3M	16.4M
Current Income Taxes Payable	1.4M	2.4M	4.3M	-	15.9M
Unearned Revenue Current, Total	200K	200K	200K	400K	400K
Other Current Liabilities	21.3M	14.6M	17.1M	23.9M	26.8M
Total Current Liabilities	232M	260M	288M	331M	347M
Long-Term Debt	59.8M	36.4M	40.5M	27.1M	45.6M
Long-Term Leases	59.1M	56M	66.8M	82.1M	116M
Unearned Revenue Non Current	800K	600K	400K	900K	500K
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	2.7M	19.7M	20.7M	28.4M	32M
Other Non Current Liabilities	1.2M	1.7M	5.4M	2.6M	1.7M
Total Liabilities	356M	374M	422M	472M	543M
Common Stock, Total	5.3M	5.3M	5.4M	5.4M	5.4M
Additional Paid In Capital	106M	116M	124M	128M	133M
Retained Earnings	537M	604M	665M	782M	870M
Treasury Stock	-	-	-	-15.6M	-35.4M
Comprehensive Income and Other	37.3M	44M	49M	11.7M	14.5M
Total Common Equity	686M	769M	843M	912M	988M
Total Equity	686M	769M	843M	912M	988M
Total Liabilities And Equity	1.04B	1.14B	1.26B	1.38B	1.53B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	52.73M	53.21M	53.72M	53.64M	53.46M
ECS Total Common Shares Outstanding	52.71M	53.18M	53.7M	53.61M	53.42M
Book Value / Share	13.02	14.46	15.7	17	18.49
Tangible Book Value	482M	538M	620M	698M	777M
Tangible Book Value Per Share	9.15	10.11	11.54	13.02	14.55
Total Debt	131M	106M	122M	126M	178M
Net Debt	92.4M	106M	101M	99.5M	172M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-5.7M	-8.3M	-200K	-200K	0
Debt Equivalent Oper. Leases	8M	8M	9.6M	15.2M	13.6M
Equity Method Investments, Total	-	-	-	800K	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	60.4M	75.6M	73.5M	70.7M	93.3M
Inventories - Finished Goods, Total	62.5M	80.3M	112M	127M	125M
Land - (BS)	24.8M	25.3M	27.9M	308M	348M
Buildings, Total	194M	214M	244M	-	-
Machinery, Total	358M	418M	487M	532M	578M
Full Time Employees	12.6K	9.93K	10.42K	14.5K	11.95K
Part Time Employees	-	-	-	-	485
Accumulated Allowance for Doubtful Accounts (Supple)	3.7M	2.8M	2.5M	2.7M	2.6M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	92.5M	104M	111M	113M	134M
Depreciation & Amortization - CF	64.2M	61.1M	68.8M	81.7M	86.3M
Amortization of Goodwill and Intangible Assets - (CF)	3.5M	4.2M	5.2M	5M	3.6M
Depreciation & Amortization, Total	67.7M	65.3M	74M	86.7M	89.9M
(Gain) Loss From Sale Of Asset	100K	-100K	-500K	1.2M	900K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	11.4M	2.8M	-4.6M	13.2M	12.7M
(Income) Loss On Equity Investments - (CF)	-	-	-	-400K	-200K
Stock-Based Compensation (CF)	6M	6.9M	4.7M	8.8M	8.4M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	800K	18.2M	9.5M	12.4M	14.6M
Change In Accounts Receivable	-7.8M	-20.1M	-44.8M	-33.8M	-26.6M
Change In Inventories	-15.5M	-34M	-25.8M	-1M	-21.5M
Change In Accounts Payable	26.2M	17.5M	29.1M	28.2M	3.8M
Cash from Operations	181M	160M	153M	228M	216M
Capital Expenditure	-71.9M	-93.7M	-85.1M	-100M	-138M
Sale of Property, Plant, and Equipment	600K	1.3M	1.2M	800K	2M
Cash Acquisitions	-10.7M	-38.5M	100K	-23.5M	-25M
Investment in Marketable and Equity Securities, Total	-	-	-	-100K	200K
Other Investing Activities, Total	200K	-	-	-	-
Cash from Investing	-81.8M	-131M	-83.8M	-123M	-160M
Long-Term Debt Issued, Total	-	-	4M	-	18M
Total Debt Issued	-	-	4M	-	18M
Long-Term Debt Repaid, Total	-54.4M	-34.1M	-13.8M	-34.7M	-16.2M
Total Debt Repaid	-54.4M	-34.1M	-13.8M	-34.7M	-16.2M
Issuance of Common Stock	3M	4.6M	3.7M	4.4M	4.7M
Repurchase of Common Stock	-	-	-	-15.6M	-25.3M
Common Dividends Paid	-27.9M	-32.8M	-36.3M	-43.9M	-49.5M
Common & Preferred Stock Dividends Paid	-27.9M	-32.8M	-36.3M	-43.9M	-49.5M
Other Financing Activities, Total	-2.8M	-5.6M	-6.7M	-8.6M	-8.7M
Cash from Financing	-82.1M	-67.9M	-49.1M	-98.4M	-77M
Net Change in Cash	17.5M	-38.8M	20.1M	6.7M	-21.1M
Supplemental Items
Cash Interest Paid	2.8M	3.8M	6.3M	8.6M	8.7M
Cash Income Tax Paid (Refund)	22.1M	9.8M	20.4M	41.4M	41.5M
Levered Free Cash Flow	84.58M	33.31M	25.39M	88.91M	42.95M
Unlevered Free Cash Flow	86.45M	35.69M	29.45M	94.48M	48.7M
Change In Net Working Capital	-3.9M	28.5M	46.4M	9.9M	39.5M
Net Debt Issued / Repaid	-54.4M	-34.1M	-9.8M	-34.7M	1.8M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.93	7.84	6.83	8.26	8.75
Return on Total Capital	10.09	10.12	8.94	10.92	11.57
Return On Equity %	14.22	14.23	13.82	12.89	14.14
Return on Common Equity	14.22	14.23	13.82	12.89	14.14
Margin Analysis
Gross Profit Margin %	14.18	13.99	12.95	14.42	15.42
SG&A Margin	7.19	6.96	7.06	7.49	7.8
EBITDA Margin %	9.72	9.42	8.22	9.44	10.12
EBITA Margin %	6.99	7.04	5.89	6.92	7.62
EBIT Margin %	6.81	6.83	5.66	6.73	7.49
Income From Continuing Operations Margin %	4.87	5.15	4.8	4.35	4.93
Net Income Margin %	4.87	5.15	4.8	4.35	4.93
Net Avail. For Common Margin %	4.87	5.15	4.8	4.35	4.93
Normalized Net Income Margin	4.15	4.15	3.37	4	4.48
Levered Free Cash Flow Margin	4.46	1.66	1.09	3.42	1.58
Unlevered Free Cash Flow Margin	4.55	1.78	1.27	3.63	1.79
Asset Turnover
Asset Turnover	1.86	1.84	1.93	1.96	1.87
Fixed Assets Turnover	4.37	4.25	4.46	4.51	4.06
Receivables Turnover (Average Receivables)	9.37	9.33	9.46	9.27	8.9
Inventory Turnover (Average Inventory)	13.56	12.39	11.84	11.61	11.07
Short Term Liquidity
Current Ratio	1.66	1.54	1.72	1.66	1.69
Quick Ratio	1.09	0.91	1.03	1.03	1.02
Operating Cash Flow to Current Liabilities	0.78	0.62	0.53	0.69	0.62
Days Sales Outstanding (Average Receivables)	38.86	39.03	38.47	40	40.91
Days Outstanding Inventory (Average Inventory)	26.84	29.37	30.75	31.95	32.88
Average Days Payable Outstanding	28.28	28.82	27.94	28.83	29.08
Cash Conversion Cycle (Average Days)	37.42	39.58	41.28	43.12	44.71
Long Term Solvency
Total Debt/Equity	19.15	13.81	14.44	13.88	18.05
Total Debt / Total Capital	16.07	12.14	12.62	12.19	15.29
LT Debt/Equity	17.33	12.02	12.73	11.98	16.39
Long-Term Debt / Total Capital	14.54	10.56	11.12	10.52	13.88
Total Liabilities / Total Assets	34.15	32.74	33.36	34.14	35.48
EBIT / Interest Expense	43.07	36.08	20.25	19.66	22.17
EBITDA / Interest Expense	65.63	53.26	31.63	29.4	31.95
(EBITDA - Capex) / Interest Expense	41.67	28.61	18.54	18.11	16.99
Total Debt / EBITDA	0.67	0.52	0.59	0.48	0.61
Net Debt / EBITDA	0.47	0.52	0.49	0.38	0.59
Total Debt / (EBITDA - Capex)	1.05	0.98	1.01	0.78	1.14
Net Debt / (EBITDA - Capex)	0.74	0.98	0.84	0.62	1.1
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	13.87	5.8	15.66	11.89	4.77
Gross Profit, 1 Yr. Growth %	21.64	4.38	7.08	24.53	12.06
EBITDA, 1 Yr. Growth %	24.98	2.49	1.22	28.6	12.3
EBITA, 1 Yr. Growth %	25.54	6.48	-2.77	31.58	15.33
EBIT, 1 Yr. Growth %	26.67	6.11	-3.59	32.98	16.57
Earnings From Cont. Operations, 1 Yr. Growth %	11.85	11.89	7.63	1.53	18.74
Net Income, 1 Yr. Growth %	11.85	11.89	7.63	1.53	18.74
Normalized Net Income, 1 Yr. Growth %	27.35	5.63	-5.73	33.09	17.12
Diluted EPS Before Extra, 1 Yr. Growth %	10.72	10.93	6.67	0.91	17.36
Accounts Receivable, 1 Yr. Growth %	2.55	9.89	17.74	11.11	7.49
Inventory, 1 Yr. Growth %	4.68	26.85	19.18	6.24	10.79
Net Property, Plant and Equip., 1 Yr. Growth %	5.44	12.3	8.02	13.12	19.27
Total Assets, 1 Yr. Growth %	4.66	9.71	10.65	9.42	10.64
Tangible Book Value, 1 Yr. Growth %	18.44	11.47	15.27	12.64	11.32
Common Equity, 1 Yr. Growth %	11.65	12.07	9.62	8.14	8.38
Cash From Operations, 1 Yr. Growth %	55.04	-11.8	-4.38	49.28	-5.3
Capital Expenditures, 1 Yr. Growth %	-28.95	30.32	-9.18	18.1	36.92
Levered Free Cash Flow, 1 Yr. Growth %	-631.92	-60.61	-22.92	250.22	-51.69
Unlevered Free Cash Flow, 1 Yr. Growth %	-710.95	-58.72	-16.6	220.8	-48.45
Dividend Per Share, 1 Yr. Growth %	15.89	8	5.03	13.35	12.22
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	14.93	9.76	10.62	13.76	8.27
Gross Profit, 2 Yr. CAGR %	20.14	12.68	5.72	15.48	18.13
EBITDA, 2 Yr. CAGR %	23.46	13.18	1.69	14.09	20.18
EBITA, 2 Yr. CAGR %	19.97	15.62	1.53	13.11	23.19
EBIT, 2 Yr. CAGR %	20.15	15.94	0.92	13.23	24.51
Earnings From Cont. Operations, 2 Yr. CAGR %	15.28	11.87	9.74	4.53	9.8
Net Income, 2 Yr. CAGR %	15.28	11.87	9.74	4.53	9.8
Normalized Net Income, 2 Yr. CAGR %	18.88	15.98	-0.44	12.01	24.85
Diluted EPS Before Extra, 2 Yr. CAGR %	14.09	10.83	8.78	3.75	8.83
Accounts Receivable, 2 Yr. CAGR %	18.03	6.16	13.75	14.38	9.29
Inventory, 2 Yr. CAGR %	18.18	15.24	22.96	12.53	8.49
Net Property, Plant and Equip., 2 Yr. CAGR %	23.69	8.82	10.14	10.54	16.15
Total Assets, 2 Yr. CAGR %	20.47	7.16	10.18	10.03	10.03
Tangible Book Value, 2 Yr. CAGR %	12.45	14.9	13.35	13.95	11.97
Common Equity, 2 Yr. CAGR %	13.26	11.86	10.84	8.88	8.26
Cash From Operations, 2 Yr. CAGR %	43.82	16.94	-8.16	19.48	18.9
Capital Expenditures, 2 Yr. CAGR %	-4.72	-3.78	8.79	3.57	27.16
Levered Free Cash Flow, 2 Yr. CAGR %	437.72	44.75	-45.21	64.3	30.07
Unlevered Free Cash Flow, 2 Yr. CAGR %	449.55	58.81	-41.63	63.57	28.59
Dividend Per Share, 2 Yr. CAGR %	11.9	11.88	6.5	9.11	12.78
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	9.04	11.81	11.69	11.04	10.68
Gross Profit, 3 Yr. CAGR %	12.95	14.64	10.78	11.65	14.33
EBITDA, 3 Yr. CAGR %	12.86	16.04	8.93	9.97	13.49
EBITA, 3 Yr. CAGR %	12.7	15.29	8.98	10.7	13.84
EBIT, 3 Yr. CAGR %	12.6	15.28	8.86	10.64	14.33
Earnings From Cont. Operations, 3 Yr. CAGR %	9.74	14.14	10.44	6.93	9.07
Net Income, 3 Yr. CAGR %	9.74	14.14	10.44	6.93	9.07
Normalized Net Income, 3 Yr. CAGR %	11.85	14.29	8.08	9.68	13.69
Diluted EPS Before Extra, 3 Yr. CAGR %	8.6	13.03	9.42	6.09	8.1
Accounts Receivable, 3 Yr. CAGR %	11.81	15.25	9.89	12.86	12.03
Inventory, 3 Yr. CAGR %	17.27	21	16.54	17.11	11.94
Net Property, Plant and Equip., 3 Yr. CAGR %	23.36	19.77	8.55	11.12	13.38
Total Assets, 3 Yr. CAGR %	16.95	16.77	8.31	9.93	10.23
Tangible Book Value, 3 Yr. CAGR %	14.22	12.12	15.02	13.11	13.06
Common Equity, 3 Yr. CAGR %	12.65	12.86	11.11	9.93	8.71
Cash From Operations, 3 Yr. CAGR %	17.4	22.19	9.35	7.98	10.57
Capital Expenditures, 3 Yr. CAGR %	7	5.76	-5.61	11.81	13.66
Levered Free Cash Flow, 3 Yr. CAGR %	31.45	124.99	16.88	1.68	9.25
Unlevered Free Cash Flow, 3 Yr. CAGR %	32.26	131.88	27.68	3	11.31
Dividend Per Share, 3 Yr. CAGR %	9.24	10.59	9.55	8.74	10.14
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	13.31	10.04	9.67	12.58	10.31
Gross Profit, 5 Yr. CAGR %	14.53	12.08	10	14.97	13.67
EBITDA, 5 Yr. CAGR %	16.57	12.65	8.26	15.18	13.3
EBITA, 5 Yr. CAGR %	15.38	13	8.09	14.32	14.45
EBIT, 5 Yr. CAGR %	15.27	12.94	7.78	14.35	14.87
Earnings From Cont. Operations, 5 Yr. CAGR %	13.53	10.65	9.74	10.2	10.18
Net Income, 5 Yr. CAGR %	15.3	9.02	9.74	10.2	10.18
Normalized Net Income, 5 Yr. CAGR %	14.9	12.46	6.76	13.27	14.5
Diluted EPS Before Extra, 5 Yr. CAGR %	12.26	9.51	8.67	9.22	9.18
Accounts Receivable, 5 Yr. CAGR %	14.25	10.21	12.58	14.9	9.65
Inventory, 5 Yr. CAGR %	16.74	14.05	19.51	17.54	13.25
Net Property, Plant and Equip., 5 Yr. CAGR %	20.08	18.32	17.89	15.99	11.53
Total Assets, 5 Yr. CAGR %	15.36	13.35	14.2	14.03	8.99
Tangible Book Value, 5 Yr. CAGR %	16.13	15.37	13.87	12.85	13.79
Common Equity, 5 Yr. CAGR %	13.27	12.78	11.92	11.25	9.96
Cash From Operations, 5 Yr. CAGR %	16.69	17.02	6.42	21.1	13.08
Capital Expenditures, 5 Yr. CAGR %	15.96	14.8	7.71	4.88	6.34
Levered Free Cash Flow, 5 Yr. CAGR %	18.01	58.82	-7.38	97.96	21.99
Unlevered Free Cash Flow, 5 Yr. CAGR %	18.38	58.68	-4.65	101.24	28.04
Dividend Per Share, 5 Yr. CAGR %	13.3	11.38	8.14	9.99	10.83