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Relative valuation derived from Materials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 50GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
7.1%
Sector: 3.3%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, CORE MOLDING TECHNOLOGIES INC (CMT) receives a "Hold" rating with a composite score of 49.9/100, ranked #462 out of 4446 stocks. Key factor scores: Quality 50/100, Value 65/100, Momentum 52/100. This is quantitative analysis only — not investment advice.
CORE MOLDING TECHNOLOGIES INC (CMT) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does CORE MOLDING TECHNOLOGIES INC Do?
Core Molding Technologies, Inc., together with its subsidiaries, operates as a molder of thermoplastic and thermoset structural products. The company offers a range of manufacturing processes that include compression molding of sheet molding compound, resin transfer molding, liquid molding of dicyclopentadiene, spray-up and hand-lay-up, direct long-fiber thermoplastics, and structural foam and structural web injection molding. It serves various markets, including medium and heavy-duty truck, automobile, power sport, construction, agriculture, building products, and other commercial markets in the United States, Mexico, Canada, and internationally. The company was formerly known as Core Materials Corporation and changed its name to Core Molding Technologies, Inc. in August 2002. Core Molding Technologies, Inc. was incorporated in 1996 and is headquartered in Columbus, Ohio. CORE MOLDING TECHNOLOGIES INC (CMT) is classified as a micro-cap stock in the Materials sector, specifically within the Rubber And Plastic Products industry. The company is led by CEO David L. Duvall and employs approximately 1,580 people, headquartered in COLUMBUS, Ohio. With a market capitalization of $198M, CMT is one of the notable companies in the Materials sector.
As of April 2026, CORE MOLDING TECHNOLOGIES INC receives a Hold rating with a composite score of 49.9/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.CMT ranks #462 out of 4,446 stocks in our coverage universe. Within the Materials sector, CORE MOLDING TECHNOLOGIES INC ranks #26 of 284 stocks, placing it in the top 10% of its Materials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
CMT Stock Price and 52-Week Range
CORE MOLDING TECHNOLOGIES INC (CMT) currently trades at $23.81. The stock gained $0.54 (2.3%) in the most recent trading session. The 52-week high for CMT is $22.29, which means the stock is currently trading 6.8% from its annual peak. The 52-week low is $13.99, putting the stock 70.2% above its annual trough. Recent trading volume was 39K shares, suggesting relatively thin trading activity.
Is CMT Overvalued or Undervalued? — Valuation Analysis
CORE MOLDING TECHNOLOGIES INC (CMT) carries a value factor score of 65/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 18.57x, compared to the Materials sector average of 26.50x — a discount of 30%. The price-to-book ratio stands at 1.32x, versus the sector average of 2.83x. The price-to-sales ratio is 0.77x, compared to 0.74x for the average Materials stock. On an enterprise value basis, CMT trades at 15.95x EV/EBITDA, versus 6.01x for the sector.
Overall, CMT's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
CORE MOLDING TECHNOLOGIES INC (CMT) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 7.1%, compared to the Materials sector average of 3.3%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 4.9% versus the sector average of 0.6%.
On a margin basis, CORE MOLDING TECHNOLOGIES INC reports gross margins of 17.9%, compared to 29.8% for the sector. The operating margin is 5.1% (sector: 6.0%). Net profit margin stands at 4.0%, versus 3.0% for the average Materials stock. Revenue growth is running at -34.2% on a trailing basis, compared to 1.8% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
CMT Debt, Balance Sheet, and Financial Health
CORE MOLDING TECHNOLOGIES INC has a debt-to-equity ratio of 11.0%, compared to the Materials sector average of 41.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 3.02x, indicating strong short-term liquidity. Total debt on the balance sheet is $18M. Cash and equivalents stand at $42M.
CMT has a beta of 0.41, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for CORE MOLDING TECHNOLOGIES INC is 71/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
CORE MOLDING TECHNOLOGIES INC Revenue and Earnings History — Quarterly Trend
In TTM 2026, CORE MOLDING TECHNOLOGIES INC reported revenue of $272M and earnings per share (EPS) of $1.31. Net income for the quarter was $11M. Gross margin was 17.9%. Operating income came in at $14M.
In FY 2025, CORE MOLDING TECHNOLOGIES INC reported revenue of $274M and earnings per share (EPS) of $1.31. Net income for the quarter was $11M. Gross margin was 17.4%. Revenue grew -9.5% year-over-year compared to FY 2024. Operating income came in at $14M.
In Q3 2025, CORE MOLDING TECHNOLOGIES INC reported revenue of $58M and earnings per share (EPS) of $0.22. Net income for the quarter was $2M. Gross margin was 17.4%. Revenue grew -19.9% year-over-year compared to Q3 2024. Operating income came in at $3M.
In Q2 2025, CORE MOLDING TECHNOLOGIES INC reported revenue of $79M and earnings per share (EPS) of $0.47. Net income for the quarter was $4M. Gross margin was 18.1%. Revenue grew -10.7% year-over-year compared to Q2 2024. Operating income came in at $5M.
Over the past 8 quarters, CORE MOLDING TECHNOLOGIES INC has demonstrated a growth trajectory, with revenue expanding from $89M to $272M. Investors analyzing CMT stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
CMT Dividend Yield and Income Analysis
CORE MOLDING TECHNOLOGIES INC (CMT) does not currently pay a dividend. This is common among smaller companies in the Rubber And Plastic Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Materials dividend stocks may want to explore other Materials stocks or use the stock screener to filter by dividend yield.
CMT Momentum and Technical Analysis Profile
CORE MOLDING TECHNOLOGIES INC (CMT) has a momentum factor score of 52/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 38/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 13/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
CMT vs Competitors — Materials Sector Ranking and Peer Comparison
Comparing CMT against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full CMT vs S&P 500 (SPY) comparison to assess how CORE MOLDING TECHNOLOGIES INC stacks up against the broader market across all factor dimensions.
CMT Next Earnings Date
No upcoming earnings date has been announced for CORE MOLDING TECHNOLOGIES INC (CMT) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy CMT? — Investment Thesis Summary
CORE MOLDING TECHNOLOGIES INC presents a balanced picture with arguments on both sides. The value score of 65/100 suggests attractive pricing relative to fundamentals. Low volatility (stability score 71/100) reduces downside risk.
In summary, CORE MOLDING TECHNOLOGIES INC (CMT) earns a Hold rating with a composite score of 49.9/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on CMT stock.
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Institutional Research Dossier
CORE MOLDING TECHNOLOGIES INC (CMT) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
Core Molding Technologies (CMT) receives a Hold rating, driven by a mixed financial profile and a lack of clear catalysts for significant outperformance. While the company exhibits attractive valuation multiples compared to its sector, this is offset by a concerning decline in revenue growth and a negative free cash flow. The company's exposure to cyclical industries, particularly the medium and heavy-duty truck market, introduces volatility that warrants a cautious stance.
The primary concern revolves around the sustainability of CMT's earnings given the substantial revenue contraction. While the company's balance sheet appears healthy with a strong current ratio and low debt-to-equity, the negative free cash flow raises questions about its ability to fund future growth initiatives and maintain its competitive position. The Hold rating reflects a balanced view, acknowledging the company's value proposition but also recognizing the significant headwinds it faces.
Business Strategy & Overview
Core Molding Technologies operates as a molder of thermoplastic and thermoset structural products, catering to a diverse range of industries including medium and heavy-duty trucks, automobiles, power sports, construction, agriculture, and building products. The company's revenue is derived from manufacturing and selling these molded components to original equipment manufacturers (OEMs) and other customers across the United States, Mexico, Canada, and internationally. CMT's strategic positioning centers around offering a variety of molding processes, including compression molding, resin transfer molding, liquid molding, spray-up and hand-lay-up, direct long-fiber thermoplastics, and structural foam and structural web injection molding. This breadth of capabilities allows CMT to serve a wide range of customer needs and adapt to evolving industry demands.
The company's success is heavily reliant on its ability to secure and maintain contracts with major OEMs in its target markets. The cyclical nature of these industries, particularly the medium and heavy-duty truck market, significantly impacts CMT's revenue stream. Economic downturns and fluctuations in demand for commercial vehicles can lead to decreased production volumes and reduced orders for CMT's products. Furthermore, the company faces competition from other molding companies and alternative materials, requiring continuous innovation and cost optimization to maintain its competitive edge.
CMT's growth strategy likely involves expanding its customer base, diversifying its product offerings, and pursuing strategic acquisitions to enhance its capabilities and market reach. However, the company's recent revenue decline suggests that it is facing challenges in executing this strategy. The company needs to demonstrate its ability to adapt to changing market conditions and capitalize on emerging opportunities to drive sustainable growth. The lack of specific details regarding the product pipeline makes it difficult to assess the company's future growth prospects.
The company's reliance on specific industries exposes it to sector-specific risks. For example, changes in regulations affecting the trucking industry or shifts in consumer preferences towards electric vehicles could significantly impact demand for CMT's products. Therefore, CMT must proactively monitor these trends and adapt its business strategy accordingly. The company's ability to navigate these challenges will be crucial to its long-term success.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
-34.2%
Sector: 1.8%
-2051% VS SCTR
Economic Moat Analysis
Core Molding Technologies' economic moat is likely narrow, stemming primarily from switching costs and potentially some degree of cost advantages. The company's diverse range of molding processes and its established relationships with OEMs create a degree of stickiness, as customers may face costs and disruptions associated with switching to alternative suppliers. The process of qualifying a new supplier, validating their products, and integrating them into the production process can be time-consuming and expensive, giving CMT an advantage in retaining existing customers.
However, the company's moat is not particularly wide, as the molding industry is relatively fragmented and competitive. While CMT offers a variety of molding processes, other companies may possess similar capabilities, limiting its pricing power. Furthermore, the availability of alternative materials, such as metals and composites, poses a threat to CMT's market share. The company must continuously innovate and improve its processes to maintain its competitive edge and prevent customers from switching to alternative solutions.
The absence of strong intangible assets, such as proprietary technology or recognized brands, further limits CMT's moat. While the company has developed expertise in various molding processes, this expertise is not necessarily unique or difficult to replicate. The company's reliance on established relationships with OEMs is also a double-edged sword, as the loss of a major customer could significantly impact its revenue stream. Therefore, CMT must continuously cultivate and strengthen its customer relationships to mitigate this risk.
Efficient scale is unlikely to be a significant source of competitive advantage for CMT. While the company benefits from economies of scale in its manufacturing operations, these economies are not necessarily substantial enough to deter new entrants or give CMT a significant cost advantage over its competitors. The company's ability to maintain its narrow moat will depend on its ability to continuously innovate, improve its processes, and strengthen its customer relationships. Without significant investment in R&D and customer service, the moat could erode over time.
Financial Health & Profitability
Core Molding Technologies' financial health presents a mixed picture. While the company's balance sheet appears relatively strong, its recent financial performance raises concerns about its long-term sustainability. The company's current ratio of 3.02 indicates a healthy level of liquidity, suggesting that it has sufficient assets to cover its short-term liabilities. Furthermore, its debt-to-equity ratio of 11.00 is significantly lower than the sector average of 40.00, indicating a conservative capital structure.
However, the company's revenue growth has been declining significantly. The TTM revenue of $273.80 million represents a substantial decrease of 34.2% compared to the previous year. This decline is a major cause for concern, as it suggests that the company is facing challenges in maintaining its market share and generating new business. The company's gross margin of 17.9% is also lower than the sector average of 30.2%, indicating that it may be facing cost pressures or pricing challenges.
The company's profitability metrics, such as ROE and net margin, are relatively in line with the sector average. The company's ROE of 7.1% is higher than the sector average of 2.7%, while its net margin of 4.1% is slightly higher than the sector average of 3.0%. However, these metrics are not particularly impressive, and they may not be sustainable given the company's declining revenue growth. The company's operating margin of 5.1% is slightly below the sector average of 6.0%.
The most concerning aspect of CMT's financial health is its negative free cash flow of -$3.90 million. This indicates that the company is not generating enough cash from its operations to cover its capital expenditures and other cash outflows. The negative free cash flow raises questions about the company's ability to fund future growth initiatives and maintain its competitive position. The quarterly financial history shows a consistent trend of declining revenue and fluctuating profitability, further reinforcing the concerns about the company's long-term financial health. The lack of free cash flow data in the quarterly history makes it difficult to assess the trend in cash generation.
Valuation Assessment
Core Molding Technologies' valuation appears attractive based on several key metrics. The company's P/E ratio of 15.3x is significantly lower than the sector average of 26.1x, suggesting that the stock may be undervalued relative to its earnings. Similarly, its EV/EBITDA ratio of 3.4x is also lower than the sector average of 5.2x, further supporting the notion that the stock is undervalued. These valuation multiples suggest that investors may be overlooking the company's potential or discounting its future growth prospects.
However, it is important to consider the company's declining revenue growth and negative free cash flow when assessing its valuation. While the company's valuation multiples may appear attractive on the surface, they may not be justified given its recent financial performance. The company's declining revenue growth suggests that its earnings may be at risk, while its negative free cash flow raises questions about its ability to generate sustainable returns for investors.
A discounted cash flow (DCF) analysis would be necessary to determine the intrinsic value of the stock. However, given the company's negative free cash flow, it would be difficult to justify a high valuation based on a DCF analysis. The company would need to demonstrate a clear path to positive free cash flow and sustainable revenue growth to warrant a higher valuation.
Overall, the stock appears to be fairly valued, considering its attractive valuation multiples but also its declining revenue growth and negative free cash flow. The Hold rating reflects this balanced view, acknowledging the company's value proposition but also recognizing the significant headwinds it faces. Investors should closely monitor the company's financial performance and its ability to generate positive free cash flow before making a decision to invest in the stock.
Risk & Uncertainty
Core Molding Technologies faces several specific risks that could negatively impact its business and financial performance. One of the primary risks is its concentration of revenue among a limited number of customers. The loss of a major customer could significantly reduce the company's revenue and profitability. The company needs to diversify its customer base to mitigate this risk.
Another significant risk is the cyclical nature of the industries it serves, particularly the medium and heavy-duty truck market. Economic downturns and fluctuations in demand for commercial vehicles can lead to decreased production volumes and reduced orders for CMT's products. The company needs to develop strategies to mitigate the impact of these cyclical fluctuations, such as diversifying its product offerings or expanding into less cyclical industries.
The company also faces competition from other molding companies and alternative materials. The molding industry is relatively fragmented and competitive, and the availability of alternative materials, such as metals and composites, poses a threat to CMT's market share. The company needs to continuously innovate and improve its processes to maintain its competitive edge and prevent customers from switching to alternative solutions.
While the company's debt levels are low, the negative free cash flow poses a risk to its financial flexibility. If the company is unable to generate positive free cash flow in the future, it may need to raise additional capital, which could dilute existing shareholders or increase its debt burden. The company's ability to manage its cash flow and maintain a healthy balance sheet is crucial to its long-term success.
Bulls Say / Bears Say
The Bull Case
BULL VIEWCMT's low valuation multiples (P/E and EV/EBITDA) relative to the sector suggest significant undervaluation and potential for multiple expansion.
BULL VIEWThe company's strong balance sheet, with a high current ratio and low debt-to-equity, provides a solid foundation for future growth and strategic initiatives.
BULL VIEWIf CMT can successfully diversify its customer base and expand into less cyclical industries, it could significantly reduce its revenue volatility and improve its long-term growth prospects.
The Bear Case
BEAR VIEWThe significant decline in revenue growth raises serious concerns about CMT's ability to maintain its market share and generate sustainable earnings.
BEAR VIEWThe negative free cash flow indicates that CMT is not generating enough cash from its operations to cover its capital expenditures and other cash outflows, potentially requiring external financing.
BEAR VIEWCMT's reliance on cyclical industries, particularly the medium and heavy-duty truck market, exposes it to significant revenue volatility and economic downturns.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score CMT and 4,400+ other equities.
CORE MOLDING TECHNOLOGIES INC exhibits a 22% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
4.9%
Sector: 0.6%
Gross Margin
Pricing power and cost efficiency
17.9%
Sector: 29.8%
Operating Margin
Core business profitability
5.1%
Sector: 6.0%
Net Margin
Bottom-line profitability
4.0%
Sector: 3.0%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
