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Carpenter Technology

CRS NYSE Industrial Machinery & Supplies & Components Financials FY2017–FY2026

Carpenter Technology's revenue rose 8.6% to $3.1 billion in fiscal 2026. Its operating margin was 22.5%, up from 18.1% a year earlier. Free cash flow was $362 million, up 26.6%. It paid out $219 million in dividends and buybacks, 61% of free cash flow. The diluted share count fell 0.6%.

Last close · Oct 23, 2026

$284.66

2.6%
Value it Compare
Revenue Total sales reported in the income statement.
$3.1B
8.6% vs prior year
Operating margin Operating income as a share of revenue.
22.5%
4.3 pts
Net income Profit after all expenses, interest and tax.
$530M
40.9%
Free cash flow Cash from operations minus capital spending.
$362M
26.6%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
23.7%
4.5 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$14.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
25.1x
On $11.34 EPS (TTM)

What Carpenter Technology does

No business description yet.

Legal name
CARPENTER TECHNOLOGY CORPORATION
Fiscal year ends
June 30, 2026
Latest annual report
—
Accession · CIK
0000017843-26-000034
0000017843

Revenue and margins

Carpenter Technology had $3.1B of revenue in fiscal 2026, up 8.6% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 30.0% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $362M in fiscal 2026, 11.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Carpenter Technology returned $219M to shareholders in fiscal 2026, 61% of free cash flow. The diluted share count fell 0.6%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Carpenter Technology yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$297M and divides by 50.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 25.1x · peers 32.3x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Carpenter Technology can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $154M$44.5M$199M$316M$393M
Debt incl. finance leases $692M$693M$694M$695M$691M
Net debt / EBITDA 5.1x2.5x1.1x0.6x0.4x
Debt / equity 0.5x0.5x0.4x0.4x0.3x
Interest coverage −0.6x2.5x6.3x10.8x18.6x
Current ratio 3.0x2.8x3.4x3.7x3.8x
Quick ratio 1.7x1.4x1.8x2.0x2.2x
Total assets $2.9B$3.1B$3.3B$3.5B$3.8B
Total liabilities $1.6B$1.7B$1.7B$1.6B$1.6B
Shareholders' equity $1.3B$1.4B$1.6B$1.9B$2.2B
Net debt (− = net cash) $538M$649M$495M$380M$297M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$92.9M

7 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 4, 2026 Steven E KarolDirector Sold 3,275 $474.08 $1.6M Form 4
Aug 25, 2026 Tony R TheneChairman, President and CEO, Director Sold 109,283 $483.84 $52.9M Form 4
Aug 21, 2026 Ramin YounessiDirector Sold 438 $493.15 $0.2M Form 4
Jun 1, 2026 Steven E KarolDirector Sold 2,000 $487.74 $1.0M Form 4
May 28, 2026 Anastasios John HartDirector Sold 250 $461.88 $0.1M Form 4
May 5, 2026 Marshall D AkinsVP and Chief Comm Officer Sold 11,815 $441.36 $5.2M Form 4
May 4, 2026 Anastasios John HartDirector Sold 750 $423.86 $0.3M Form 4
Feb 24, 2026 James D DeeSVP, Gen Counsel & Sec Sold 15,800 $391.78 $6.2M Form 4
Feb 19, 2026 Steven E KarolDirector Sold 6,500 $380.60 $2.5M Form 4
Dec 11, 2025 Brian J MalloyPresident and COO Sold 4,130 $303.52 $1.3M Form 4
Dec 10, 2025 Brian J MalloyPresident and COO Sold 43,688 $304.46 $13.3M Form 4
Dec 9, 2025 Brian J MalloyPresident and COO Sold 27,640 $305.60 $8.4M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✕ ✕ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✓ ✕ ✓
F-score 8 / 97 / 99 / 9
Accruals ratio −2.8%−1.9%−2.1%
Altman Z'' 5.296.257.05

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Carpenter Technology CRS $14.2B 8.6% 22.5% 11.6% 23.7% 25.1x 9
Middleby MIDD $5.1B 1.6% 18.0% 17.5% 8.7% — 4 Compare →
ESAB ESAB $4.1B 3.7% 14.5% 7.5% 11.0% 24.1x 4 Compare →
IDEX IEX $17.0B 5.8% 20.2% 17.8% 10.2% 33.0x 7 Compare →
Nordson NDSN $17.9B 3.8% 25.5% 23.7% 11.6% 32.3x 5 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $1.8B $2.2B $2.4B $2.2B $1.5B $1.8B $2.6B $2.8B $2.9B $3.1B
Gross profit $301M $382M $445M $329M $1.0M $150M $337M $584M $769M $956M
Research and development $16.9M $19.3M $23.3M $28.0M $19.7M $20.4M $24.4M $25.6M $26.1M $27.7M
Operating income $122M $189M $241M $25.3M −$249M −$24.9M $133M $323M $522M $702M
Interest expense $29.8M $28.3M $26.0M $19.8M $32.7M $44.9M $54.1M $51.0M $48.4M $37.8M
Pretax income $70.2M $160M $216M $6.1M −$298M −$63.1M $72.5M $212M $467M $656M
Income tax $23.2M −$28.3M $49.0M $4.6M −$68.3M −$14.0M $16.1M $25.1M $91.3M $126M
Net income $47.0M $189M $167M $1.5M −$230M −$49.1M $56.4M $187M $376M $530M
Diluted EPS $0.99 $3.92 $3.43 $0.02 −$4.76 −$1.01 $1.14 $3.70 $7.42 $10.52
Diluted shares 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B
Cash flow
Cash from operations $130M $209M $232M $232M $250M $6.0M $14.7M $275M $440M $605M
Capital expenditure $98.5M $135M $180M $171M $101M $91.3M $82.3M $96.6M $154M $243M
Free cash flow $31.8M $74.2M $52.1M $60.4M $150M −$85.3M −$67.6M $178M $286M $362M
Depreciation and amortization $118M $117M $122M $124M $124M $131M $131M $135M $139M $147M
Stock-based compensation $13.0M $17.6M $17.6M $10.9M $10.4M $10.8M $16.4M $19.8M $22.8M $26.4M
Acquisitions $35.3M $13.3M $79.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $102M $179M
Dividends paid $34.1M $34.4M $38.6M $38.8M $39.1M $39.2M $39.4M $40.0M $40.3M $40.3M
Dividends and buybacks $34.1M $34.4M $38.6M $38.8M $39.1M $39.2M $39.4M $40.0M $142M $219M
Balance sheet
Cash and short-term investments $66.3M $56.2M $27.0M $193M $287M $154M $44.5M $199M $316M $393M
Total debt $605M $546M $570M $722M $695M $692M $693M $694M $695M $691M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $1.1B $1.2B $1.2B $1.3B $1.1B $1.1B $1.3B $1.6B $1.8B $2.0B
Current liabilities $396M $363M $416M $452M $306M $376M $459M $466M $484M $520M
Inventory $690M $689M $788M $724M $426M $496M $640M $735M $794M $823M
Property and equipment, net $1.3B $1.3B $1.4B $1.5B $1.5B $1.4B $1.4B $1.3B $1.4B $1.5B
Total assets $2.9B $3.0B $3.2B $3.2B $3.0B $2.9B $3.1B $3.3B $3.5B $3.8B
Total liabilities $1.7B $1.5B $1.7B $1.8B $1.6B $1.6B $1.7B $1.7B $1.6B $1.6B
Shareholders' equity $1.2B $1.5B $1.5B $1.4B $1.4B $1.3B $1.4B $1.6B $1.9B $2.2B
Margins
Gross margin 16.7% 17.7% 18.7% 15.1% 0.1% 8.2% 13.2% 21.2% 26.7% 30.6%
Operating margin 6.8% 8.8% 10.1% 1.2% −16.9% −1.4% 5.2% 11.7% 18.1% 22.5%
EBITDA margin 13.3% 14.2% 15.3% 6.8% −8.5% 5.8% 10.4% 16.6% 23.0% 27.2%
Net margin 2.6% 8.7% 7.0% 0.1% −15.6% −2.7% 2.2% 6.8% 13.1% 17.0%
FCF margin 1.8% 3.4% 2.2% 2.8% 10.1% −4.7% −2.7% 6.5% 9.9% 11.6%
Returns
Return on capital 4.8% 10.2% 9.2% 0.6% −10.4% −1.1% 5.3% 13.7% 19.1% 23.7%
Return on capital employed 4.9% 7.4% 8.9% 0.9% −9.1% −1.0% 5.2% 11.9% 17.9% 22.2%
Return on equity 4.1% 14.0% 11.1% 0.1% −16.2% −3.6% 4.1% 12.3% 21.4% 25.8%
Return on assets 1.7% 6.4% 5.4% 0.1% −7.4% −1.7% 1.9% 5.9% 11.1% 14.5%
Growth
Revenue growth −0.9% 20.0% 10.3% −8.4% −32.4% 24.4% 38.9% 8.2% 4.3% 8.6%
Net income growth 315.9% 301.1% −11.4% −99.1% −15,406.7% — — 230.7% 101.6% 40.9%
EPS growth 330.4% 296.0% −12.5% −99.4% −23,900.0% — — 224.6% 100.5% 41.8%
FCF growth −80.4% 133.3% −29.8% 15.9% 147.5% −157.1% — — 60.5% 26.6%
Share count change −2.3% 1.1% 1.1% 0.2% 0.2% 0.4% 1.4% 2.2% 0.8% −0.6%
Financial health
Net debt / EBITDA 2.3x 1.6x 1.5x 3.5x — 5.1x 2.5x 1.1x 0.6x 0.4x
Debt / equity 0.5x 0.4x 0.4x 0.5x 0.5x 0.5x 0.5x 0.4x 0.4x 0.3x
Interest coverage 4.1x 6.7x 9.3x 1.3x −7.6x −0.6x 2.5x 6.3x 10.8x 18.6x
Current ratio 2.8x 3.2x 3.0x 2.8x 3.7x 3.0x 2.8x 3.4x 3.7x 3.8x
Quick ratio 1.0x 1.4x 1.1x 1.2x 2.3x 1.7x 1.4x 1.8x 2.0x 2.2x
Capital allocation
Capex / revenue 5.5% 6.3% 7.6% 7.9% 6.8% 5.0% 3.2% 3.5% 5.4% 7.8%
Stock comp / revenue 0.7% 0.8% 0.7% 0.5% 0.7% 0.6% 0.6% 0.7% 0.8% 0.9%
Payouts / FCF 107.2% 46.4% 74.1% 64.2% 26.2% — — 22.4% 49.7% 60.6%
Quality scores
Piotroski F-score 8.0 8.0 6.0 3.0 4.0 5.0 6.0 8.0 7.0 9.0
Altman Z'' 4.1 4.8 4.8 4.1 3.6 3.8 4.3 5.3 6.3 7.1
Accruals ratio −2.9% −0.7% −2.1% −7.2% −15.5% −1.9% 1.4% −2.8% −1.9% −2.1%

Source: SEC EDGAR XBRL filings (CIK 0000017843). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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