Crane NXT (CXT) Q4 2025 earnings summary

Executive summary

• Achieved Q4 2025 sales growth of 20% and full-year growth of 11.4%, driven by acquisitions and strong performance in currency and authentication segments.

• Adjusted EBITDA margin reached 25% in Q4 and 24% for the year; Adjusted EPS was $1.27 in Q4 and $4.06 for the year.

• Secured 20 new currency denomination wins using micro-optics technology and renewed major sports league contracts.

• Completed acquisition of De La Rue Authentication and initial equity investment in Antares Vision, with full acquisition and integration expected by mid-2026.

• Raised annual dividend by 6% for 2026.

Financial highlights

• Q4 2025 sales were $477 million, up 19.5% year-over-year; core sales increased 5%.

• Full-year 2025 sales reached $1.7 billion, up 11.4% year-over-year; core sales grew 0.7%.

• Adjusted segment operating margin was 25.9% in Q4 and 24.5% for the year.

• Adjusted free cash flow conversion was 135% in Q4 and 94% for the year.

• Adjusted EBITDA for 2025 was $402.7 million (24.3% margin).

Outlook and guidance

• 2026 sales growth expected at 4%-6%, with high single-digit growth in SAT and flat CPI sales.

• Adjusted EPS guidance for 2026 is $4.10-$4.40.

• Adjusted EBITDA margin projected at 25% for 2026.

• Revenue and profitability expected to be weighted toward the second half of 2026.

• CapEx for currency to rise to 7% of revenue in 2026.