CRD-A
CRAWFORD & CO
Next earnings Aug 3, 2026 · consensus $0.27 EPS, $339M rev
Last earnings -1.8% on 2026-05-04
$11.38
▼ -2.90%$11.38▲ +10.12%
over 1Y
L $8.71H $11.95
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-2.9%
1W+3.0%
1M+4.2%
3M+12.4%
YTD+5.9%
1Y+10.1%
Hold
Conviction
Horizon
Medium (3–12mo)
Street · 11 analysts
Strong Buy
Cheap on sales and cash flow but a thin-margin, cyclical claims processor with shrinking revenue and falling earnings — own, don't add.
Revenue $1.31B · FY2025
The read
Middling fundamentals and a rich price (~62% above fair value) leave little margin of safety — a wait-and-see.
Crawford is the world's largest independent claims-management outsourcer, and its stock screens cheap on some lines: 0.5x sales and a $599M cap against $1.31B of revenue and, notably, $102M of operating cash flow (up 97.3% YoY) versus just $7.0M of capex. That cash generation, a 15.6% rise in cash to $64.1M, a 13.3% reduction in long-term debt to $189M, and 10.1% equity growth to $173M are the bull case — the balance sheet is being repaired and free cash flow comfortably covers the $14.3M dividend and $10.5M of buybacks.
But the earnings engine is going the wrong way. Revenue fell 2.2% to $1.31B (management cites revenues-before-reimbursements down 2.1% to $1.266B), and net income dropped 26.2% to $19.6M — the second straight annual decline from $30.6M in 2023 to $26.6M in 2024 to $19.6M in 2025. Net margin is a razor-thin 1.5% and the P/E is 21.5x, so on earnings the stock is not cheap despite the low P/S. The five-year record is lumpy (a -$18.3M loss in 2022 sits between $30M+ years), underscoring that this is a low-margin, cyclical business, not a compounder.
Is CRD-A a buy? The one-page verdict, explained →
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.14B | $1.23B | $1.32B | $1.34B | $1.31B |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $30.7M | -$18.3M | $30.6M | $26.6M | $19.6M |
| Diluted EPS | — | — | — | — | — |
| Net margin | 2.7% | -1.5% | 2.3% | 2.0% | 1.5% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$718M
EV / EBITDA5.8
EV / Sales0.5
EV / FCF7.6
P / FCF5.8
PEG (trailing)—
Earnings yield3.5%
FCF yield17.1%
Quality & risk
ROIC (est.)16.6%
Free cash flow$94.8M
Total debt$228M
Net cash-$163M
Piotroski F-Score5/8
Capital returns
Buyback yield1.9%
Dividend yield (est.)2.6%
Shareholder yield4.5%
Shares Δ YoY+1.6%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Shareholder vote2026-05-19
Annual meeting: shareholders ratified directors, auditor and say-on-pay votes
- 8-K Earnings results2026-05-04
Q1 2026 10-Q filed; ongoing claim-volume softness pressures revenue
- 10-Q Quarterly report2026-05-04
Q1 2026 10-Q filed; ongoing claim-volume softness pressures revenue
- DEF 14A Proxy statement2026-04-09
Proxy for 2026 annual meeting: director slate, auditor, exec pay
- 8-K Reg FD disclosure2026-03-31
Reg FD investor presentation/update furnished, no new financial data
- 8-K Officer / director change2026-03-23
Board/officer change disclosed (Item 5.02 leadership transition)
- 10-K/A Restated periodic report2026-03-19
10-K amendment adding Part III proxy items; no financial restatement
- 8-K Earnings results2026-03-02
FY2025: revenue $1.31B -2.2%, net income $19.6M -26%, OCF nearly doubled
- 10-K Annual report2026-03-02
FY2025: revenue $1.31B -2.2%, net income $19.6M -26%, OCF nearly doubled
Recent filings
all on EDGAR ↗4Period ending 2026-06-012026-06-02open ↗4Period ending 2026-05-222026-05-26open ↗4Period ending 2026-05-182026-05-22open ↗4Period ending 2026-05-182026-05-20open ↗8-KPeriod ending 2026-05-142026-05-19open ↗144Filing2026-05-14open ↗4Period ending 2026-05-072026-05-11open ↗144Filing2026-05-07open ↗10-QPeriod ending 2026-03-312026-05-04open ↗8-KPeriod ending 2026-05-042026-05-04open ↗SCHEDULE 13GFiling2026-04-29open ↗DEF 14APeriod ending 2026-05-142026-04-09open ↗
Frequently asked
- Is CRAWFORD & CO (CRD-A) a buy?
- CRD-A currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Cheap on sales and cash flow but a thin-margin, cyclical claims processor with shrinking revenue and falling earnings — own, don't add.
- What is CRD-A's fair value?
- A Modified-Graham model based on CRD-A's SEC fundamentals estimates a fair value of about $4.28. It is an estimate from reported earnings, not a price target.
- Is CRD-A overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, CRD-A currently appears overvalued relative to its SEC-grounded earnings power.
- What is CRAWFORD & CO's quality score?
- CRD-A scores 62.767053887824055/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000025475, latest 10-Q filed 2026-05-04) · EODHD · Proprietary analysis · as of 7/3/2026, 4:19:01 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 3, 2026, 12:19 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
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