Crawford & Company B (CRD.B) AI Stock Analysis

• Market Cap: $484.33M
• Dividend Yield: 2.47%
• Average Volume (3M): 4.97K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.01
• Revenue Growth: 4.39%
• EPS Growth: 61.61%
• Country: US
• Employees: 9,134
• Sector: Financial
• Sector Strength: 70
• Industry: Insurance - Brokers
• EPS (TTM): 0.15
• Shares Outstanding: 18,985,060
• 10 Day Avg. Volume: 4,431
• 30 Day Avg. Volume: 4,969
• PEG Ratio: -1.10
• Price to Book (P/B): 3.22
• Price to Sales (P/S): 0.43
• P/FCF Ratio: 6.01
• Enterprise Value/Market Cap: 1.42
• Enterprise Value/Revenue: 0.53
• Enterprise Value/Gross Profit: 2.13
• Enterprise Value/Ebitda: 7.42
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 1.05
• Revenue Forecast (FY): $1.34B

• Rating: 53 Neutral
• Price Target: $10.50 ▼(-3.49% Downside)
• Action: Reiterated Date: 03/21/26
• Date: Action: Reiterated 03/21/26

The score is held back primarily by leveraged balance-sheet risk and weak technical momentum (negative MACD with oversold readings). Offsetting factors are improved recent cash generation and a steady revenue base, while valuation is a mild headwind due to the higher P/E despite a moderate dividend yield.

Positive Factors

Recurring fee‑based business model

Crawford's core revenue comes from fee-based claims administration, TPAs and managed repair services, creating recurring contractual revenue streams. This outsourced-services model produces steady demand from insurers and corporates, supporting durable revenue visibility and client stickiness.

Improved cash generation

A clear rebound in operating cash flow and a surge in 2025 materially improve liquidity and operational flexibility. Strong cash generation supports working-capital needs, debt service and reinvestment capacity, reducing short‑term refinancing risk despite earnings volatility.

Scale and global service footprint

Crawford's global footprint and ~9,100 employees provide scale to serve insurers and large self-insured clients across geographies. Broad service lines and staffing depth support catastrophe response and program continuity, reinforcing competitive positioning in outsourced claims.

Negative Factors

Elevated leverage

Sustained debt levels two to nearly three times equity raise financial risk and limit strategic flexibility. High leverage increases sensitivity to earnings swings, constrains capital allocation choices and heightens refinancing and covenant risks during weaker operating periods.

Thin and inconsistent profitability

Persistently thin net margins and the 2022 loss indicate limited earnings cushion. Inconsistent profitability reduces internal funding for growth, elevates dependence on external financing, and weakens resilience to pricing pressure or higher operating costs in the insurance services market.

Volatile revenue and free cash flow

Year-to-year swings in revenue and FCF complicate planning and weaken predictability for clients and lenders. This volatility, paired with elevated leverage, can force procyclical balance-sheet moves in downturns and limit the company's ability to invest in long-term service innovation.

Crawford & Company B Business Overview & Revenue Model

Company Description

Crawford & Company provides claims management and outsourcing solutions for carriers, brokers, and corporations in the United States, the United Kingdom, Europe, Canada, Australia, and internationally. The company's Crawford Loss Adjusting provides claims management services to insurance companies and self-insured entities risk including property, public liability, automobile, and marine insurances. Its Crawford TPA Solutions segment provides claims and risk management services for corporations in the self-insured or commercially-insured marketplace; desktop claim adjusting and claims evaluation services; initial loss reporting services for claimants; and loss mitigation and risk management information services, as well as administers loss funds established to pay claims. This segment also offers third party administration for workers' compensation, auto and liability, disability absence and medical management, and accident and health products. The company's Crawford Platform Solutions segment offers insurance through service lines, such as Contractor Connection and Networks, including losses caused by natural disasters, such as fires, hailstorms, hurricanes, earthquakes, floods, as well as man-made disasters, such as oil spills, and chemical releases. It also provides customer-centric solutions for various loss types comprising high-frequency and low-complexity claims to large complex repairs; and outsourced contractor management services to personal and commercial insurance carriers and consumer markets. The company was founded in 1941 and is headquartered in Atlanta, Georgia.

How the Company Makes Money

Crawford & Company primarily makes money by providing fee-based services tied to the handling and administration of insurance claims and related outsourced processes. Key revenue streams generally include: (1) Claims adjusting and claims management services, where clients pay for investigating, evaluating, and settling claims (often priced per claim, per service event, hourly, or via contracted rate schedules); this can include field adjusting, desk adjusting, and catastrophe-related surge work that increases volume during major events. (2) Third-party administration (TPA) and outsourced claims operations, where insurers and self-insured organizations pay contracted service fees (often recurring) for end-to-end administration of claim portfolios, including intake, documentation, coordination with stakeholders, and settlement support. (3) Managed repair and restoration coordination services, where Crawford earns fees for coordinating contractors and repair networks and managing the repair process on behalf of carriers or policyholders; revenue is typically generated through management fees and contracted service arrangements rather than underwriting risk. (4) Specialized and ancillary services (such as medical management and other claim-related support), which generate service fees linked to program participation or utilization. The company’s earnings are influenced by claim volumes and complexity, the level of outsourcing by insurers and self-insured clients, contract mix (project-based versus ongoing programs), and catastrophe frequency/severity, which can drive temporary spikes in demand for adjusting resources. Specific partnership details are not available (null).

Crawford & Company B Financial Statement Overview

Summary

Mixed fundamentals. Income statement shows stable revenue but uneven growth and thin/volatile profitability (including a 2022 loss and softer recent operating profitability). Balance sheet leverage is a notable risk (debt ~2.0x–2.8x equity in 2022–2024), partially offset by a strong recent cash-flow rebound and improved free cash flow in 2025.

Income Statement

Revenue has been relatively stable over the last several years but with inconsistent growth (strong in 2021–2023, modest in 2024, and a decline in 2025). Profitability is thin: net margins were low-positive in 2020–2021 and 2023–2025, but the company posted a loss in 2022. Operating profitability also appears to have softened recently, with 2025 showing missing/zero operating profit fields alongside a lower net margin versus 2024, pointing to weaker earnings quality and/or reporting gaps. Overall, the income statement reflects modest scale with uneven momentum and limited margin cushion.

Balance Sheet

Leverage is a key constraint. Debt was high relative to equity in 2022–2024 (roughly ~2.0x to ~2.8x), indicating a balance sheet that relies meaningfully on borrowing. Equity has improved since 2022, but remains modest versus the debt load. Returns to shareholders were strong in 2021 and 2023–2024, but the 2022 loss shows the balance sheet can be pressured during weaker earnings periods. 2025 leverage and return figures are shown as zero, which limits visibility, but the broader trend still suggests above-average financial risk for the industry.

Cash Flow

Cash generation is the brighter spot. Operating cash flow has generally been positive and, importantly, rebounded strongly in 2023 and surged in 2025. Free cash flow was negative in 2022 and very weak in 2024, but improved sharply in 2025, indicating better cash conversion and/or working-capital tailwinds. The cash flow profile is therefore volatile year-to-year, but the most recent period shows strong liquidity support relative to reported earnings.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.31B	1.34B	1.32B	1.23B	1.14B
Gross Profit	321.90M	367.55M	359.07M	306.35M	291.80M
EBITDA	92.62M	97.61M	102.91M	52.11M	91.02M
Net Income	19.63M	26.60M	30.61M	-18.30M	30.69M
Balance Sheet
Total Assets	764.30M	803.75M	799.20M	791.51M	852.64M
Cash, Cash Equivalents and Short-Term Investments	64.08M	55.41M	58.36M	46.01M	53.23M
Total Debt	270.27M	309.49M	311.53M	346.40M	288.67M
Total Liabilities	592.87M	648.20M	659.37M	668.13M	641.24M
Stockholders Equity	173.09M	157.21M	141.62M	124.54M	211.97M
Cash Flow
Free Cash Flow	92.81M	9.97M	67.19M	-6.96M	23.37M
Operating Cash Flow	101.85M	51.62M	103.79M	27.63M	54.32M
Investing Cash Flow	-36.21M	-41.65M	-36.60M	-57.88M	-70.83M
Financing Cash Flow	-57.62M	-12.86M	-54.68M	25.94M	24.66M

Crawford & Company B Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.88
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRD.B, the sentiment is Positive. The current price of 10.88 is above the 20-day moving average (MA) of 9.92, above the 50-day MA of 10.22, and above the 200-day MA of 10.10, indicating a bullish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 55.56 is Neutral, neither overbought nor oversold. The STOCH value of 37.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CRD.B.

Crawford & Company B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CRD.A	58 Neutral	$484.33M	28.40	11.25%	2.47%	4.39%	61.61%
SLQT	56 Neutral	$105.09M	0.95	13.52%	―	13.16%	―
EHTH	55 Neutral	$45.99M	3.50	4.33%	―	16.79%	―
CRD.B	53 Neutral	$484.33M	-19.26	11.25%	2.47%	4.39%	61.61%
GOCO	44 Neutral	$24.46M	-0.09	-142.05%	―	7.56%	-344.04%