Carpenter Technology
CRS · Industrial Machinery & Supplies & Components
$284.66
2.6%IDEX
IEX · Industrial Machinery & Supplies & Components
$229.05
1.0%The short version
- IDEX is the larger business, with $3.5B of revenue in fiscal 2025 against $3.1B for Carpenter Technology.
- Carpenter Technology grew revenue faster (8.6%, against 5.8%).
- Carpenter Technology kept more of each dollar of sales as operating profit (22.5% operating margin, against 20.2% operating margin).
- IDEX turned more of its sales into free cash flow (17.8% FCF margin, against 11.6% FCF margin).
- Carpenter Technology earned a higher return on the capital invested in it (23.7%, against 10.2%).
- Investors pay more for each dollar of IDEX’s earnings: a P/E of 33.0x against 25.1x for Carpenter Technology.
| Latest fiscal year | CRS · FY26 | IEX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.2B | $17.0B |
| Revenue | $3.1B | $3.5B |
| Free cash flow | $362M | $617M |
| Net income | $530M | $483M |
| Growth | ||
| Revenue growth | 8.6% | 5.8% |
| 5-year growth | 16.2% | 8.0% |
| Share count change | −0.6% | −0.8% |
| Profitability | ||
| Gross margin | 30.6% | 44.5% |
| Operating margin | 22.5% | 20.2% |
| Net margin | 17.0% | 14.0% |
| FCF margin | 11.6% | 17.8% |
| Return on capital | 23.7% | 10.2% |
| Return on equity | 25.8% | 12.4% |
| Balance sheet | ||
| Net debt | $297M | $1.2B |
| Net debt / EBITDA | 0.4x | 1.4x |
| Dividends and buybacks | $219M | $460M |
| Valuation & quality | ||
| P/E | 25.1x | 33.0x |
| Piotroski F-score | 9 | 7 |
FY17
CRS $1.8B
IEX $2.3B
FY18
CRS $2.2B
IEX $2.5B
FY19
CRS $2.4B
IEX $2.5B
FY20
CRS $2.2B
IEX $2.4B
FY21
CRS $1.5B
IEX $2.8B
FY22
CRS $1.8B
IEX $3.2B
FY23
CRS $2.6B
IEX $3.3B
FY24
CRS $2.8B
IEX $3.3B
FY25
CRS $2.9B
IEX $3.5B
FY26
CRS $3.1B
IEX —
CRS
IEX
FY17
CRS 6.8%
IEX 22.0%
FY18
CRS 8.8%
IEX 22.9%
FY19
CRS 10.1%
IEX 23.2%
FY20
CRS 1.2%
IEX 22.1%
FY21
CRS −16.9%
IEX 23.0%
FY22
CRS −1.4%
IEX 23.6%
FY23
CRS 5.2%
IEX 22.4%
FY24
CRS 11.7%
IEX 20.7%
FY25
CRS 18.1%
IEX 20.2%
FY26
CRS 22.5%
IEX —
CRS
IEX
FY17
CRS $31.8M
IEX $389M
FY18
CRS $74.2M
IEX $423M
FY19
CRS $52.1M
IEX $477M
FY20
CRS $60.4M
IEX $518M
FY21
CRS $150M
IEX $493M
FY22
CRS −$85.3M
IEX $489M
FY23
CRS −$67.6M
IEX $627M
FY24
CRS $178M
IEX $603M
FY25
CRS $286M
IEX $617M
FY26
CRS $362M
IEX —
CRS
IEX
FY17
CRS 4.8%
IEX 15.8%
FY18
CRS 10.2%
IEX 18.6%
FY19
CRS 9.2%
IEX 19.0%
FY20
CRS 0.6%
IEX 16.6%
FY21
CRS −10.4%
IEX 17.3%
FY22
CRS −1.1%
IEX 16.3%
FY23
CRS 5.3%
IEX 13.6%
FY24
CRS 13.7%
IEX 11.3%
FY25
CRS 19.1%
IEX 10.2%
FY26
CRS 23.7%
IEX —
CRS
IEX
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.