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Carpenter Technology Corporation

CRS Industrials Metal Fabrication

Carpenter Technology Corporation’s revenue for fiscal 2026 (year ended June 2026) was $3.1 billion, up 8.59% from fiscal 2025.

Revenue
+8.79%
EPS
+33.1%
Free cash flow
−629.4%
Total debt
−0.68%

Quarter to September 2026, against a year earlier

274.19 4.69 −1.68%
Market cap
$13.8B
P/E
24.6×
Fwd P/E
20.9×
Dividend yield
0.29%
F-score
9/9
Altman Z
14.17
Beneish M
−2.45
Dividend safety
82/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2026

  • Specialty Alloys Operations
  • Performance Engineered Products

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 92.93
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — 2 — — 3 1 — 2 1 — —
Insider Ownership 3.25%

Capital & Financial Ratios $m

Size
Market Cap 13,820.00
Revenue ttm 3,188.70
Net income ttm 569.80
Free cash flow ttm 340.90
Net debt Q 531.50
Valuation
P/E 24.56
Forward P/E 20.90
Price / sales 4.37
Forward P/S Powerpack
Price / FCF 40.90
Price / book 6.39 (above 6: high)
Financial health
Current ratio Q 3.94 (at or above 1.5: strong)
Debt / equity Q 0.32 (at or below 0.5: strong)
Interest coverage Q 27.66
Growth
Revenue growth Q +8.79% (above 0%: growing)
Operating income growth Q +28.11% (above 0%: growing)
EPS, this year +25.55% (at or above 15%: strong)
EPS, next year A +18.78% (at or above 15%: strong)
Revenue, next year A +10.01% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +21.30% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.6×, against a ten-year median of 1.4×; over the ten years it ranged from 0.7× in 2020 to 10.1× in 2026.
P/E against its own 10 years 35.53%
10-year low 10-year high
P/S against its own 10 years 89.11%
10-year low 10-year high
P/B against its own 10 years 86.95%
10-year low 10-year high
EV/Sales against its own 10 years 89.04%
10-year low 10-year high
EV/FCF against its own 10 years 54.29%
10-year low 10-year high

Dividends

Yield
0.29%
Annual rate
0.80
Payout ratio
7.05%
Growth, 2018–26
+0.64%/yr
  1. 0.76 ’18
  2. 0.80 ’19 +5
  3. 0.80 ’20 +0
  4. 0.80 ’21 +0
  5. 0.80 ’22 +0
  6. 0.80 ’23 +0
  7. 0.80 ’24 +0
  8. 0.80 ’25 +0
  9. 0.80 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 199 316 393 160
Receivables 563 576 702 722
Inventory 735 794 823 884
Other 94 80 63 76
1,591 1,765 1,981 1,842
2024 2025 2026 Q'26
Payables 264 267 313 345
ST’ Debt — — — —
Other — — — —
466 484 520 468

Compound Annual Growth %

10y 5y 3y
Sales 5.59% 16.19% 7.00%
Cash Flow 8.92% 19.33% 245.26%
Earnings 47.06% 0.00% 111.00%
Book Value 7.26% 9.86% 16.85%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY27 Estimate 2.97 Actual 3.25

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY26 2.20 2.33 Beat by 0.13
Q3 FY26 2.59 2.77 Beat by 0.18
Q4 FY26 3.03 3.23 Beat by 0.20
Q1 FY27 2.97 3.25 Beat by 0.28
Q2 FY27 2.98 — Reports 4 February 2027

EPS $

Sep Dec Mar Jun Year
’26 3.25 — — — —
’26 2.43 2.09 2.77 3.23 10.52
’25 1.67 1.66 1.88 2.21 7.42
’24 0.88 0.85 0.12 1.85 3.70
’23 (0.14) 0.13 0.38 0.78 1.14
’22 (0.31) (0.61) (0.16) 0.05 (1.01)
’21 (0.98) (1.76) (0.84) (1.18) (4.76)
Fiscal quarters ending in the months shown.

Revenue $m

Sep Dec Mar Jun Year
’26 798 — — — —
’26 734 728 812 851 3,124
’25 718 677 727 756 2,877
’24 652 624 685 799 2,760
’23 523 579 690 758 2,550
’22 388 396 489 564 1,836
’21 353 349 352 422 1,476
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 53 — — — —
’26 39 132 194 240 605
’25 40 68 74 258 440
’24 7 15 84 170 275
’23 (78) (86) 4 175 15
’22 (47) (89) 35 107 6
’21 88 84 4 75 250
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 (25) — — — —
’26 (3) 86 125 155 362
’25 13 39 34 201 288
’24 (15) (11) 62 142 179
’23 (91) (104) (16) 144 (68)
’22 (61) (106) 10 75 (83)
’21 55 59 (15) 53 151
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 16.8% a year for ten years. It grew 14.6% a year over the last ten.

Implied
16.8%
10 years, reported
14.6%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to June

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 1,798 2,158 2,380 2,181 1,476 1,836 2,550 2,760 2,877 3,124 3,189 +6.3% 3,437 3,786 4,235 +10.7%
Gross margin, % 16.73 17.72 18.69 15.10 0.07 8.16 13.23 21.17 26.71 30.58 31.22 +13.9 pt
EBT 70 160 216 6 (298) (63) 73 212 467 656 704 +28.2%
EBT margin, % 3.91 7.42 9.07 0.28 (20.19) (3.44) 2.84 7.67 16.24 21.00 22.07 +17.1 pt
Net income 47 189 167 2 (230) (49) 56 187 376 530 570 +30.9%
Per share, $
Per share, $ Revenue 38.25 45.71 49.90 45.35 30.55 37.86 52.26 55.53 57.31 62.48 64.03 +5.6%
Earnings 0.99 3.96 3.46 0.02 (4.76) (1.01) 1.15 3.75 7.50 10.59 11.40 +30.1%
Cash flow 2.77 4.43 4.87 4.82 5.18 0.12 0.30 5.53 8.77 12.10 12.42 +17.8%
Capex (2.04) (2.82) (3.77) (3.56) (2.05) (1.84) (1.69) (1.93) (3.05) (4.85) (5.58) +10.1%
Free cash flow 0.73 1.61 1.10 1.26 3.13 (1.71) (1.39) 3.60 5.73 7.25 6.85 +29.1%
Book value 25.50 31.48 31.87 30.06 28.83 27.43 28.61 32.77 37.59 44.55 43.83 +6.4%
Shares, m 47 47 48 48 48 49 49 50 50 50 50 +0.7%
Valuation, ×
Valuation, × P/E 37.43 13.52 13.92 2,428.00 0.00 0.00 48.39 28.60 36.85 58.25 24.56 266.5
P/S 0.98 1.17 0.97 0.54 1.32 0.74 1.07 1.93 4.82 9.87 4.37 2.3
P/B 1.47 1.70 1.51 0.81 1.40 1.02 1.96 3.26 7.35 13.85 6.39 3.4
EV/Sales 1.28 1.42 1.19 0.78 1.60 1.19 1.45 2.21 5.06 10.06 4.63 2.6
EV/FCF 66.99 40.29 54.12 28.19 15.61 (26.37) (54.55) 34.14 50.62 86.78 43.34 29.6
Cash, $m
Cash, $m Operating cash flow 130 209 232 232 250 6 15 275 440 605 619 +18.6%
Capex (96) (133) (180) (171) (99) (89) (82) (96) (153) (243) (278) +10.9%
Free cash flow 34 76 53 61 151 (83) (68) 179 288 362 341 +29.9%
Balance, $m
Balance, $m Working capital 698 816 820 814 811 744 823 1,125 1,281 1,461 1,375 +8.6%
Net debt 539 490 524 359 407 538 649 495 380 297 532 (6.4%)
Shareholders’ equity 1,199 1,486 1,520 1,446 1,392 1,331 1,396 1,629 1,887 2,228 2,183 +7.1%
Returns, %
Returns, % ROA 1.65 6.35 5.33 0.03 (7.42) (1.67) 1.88 5.88 11.09 14.47 15.95 +12.8 pt
ROIC 4.37 5.99 7.38 0.88 (8.63) (0.83) 4.07 9.51 14.39 17.38 17.16 +13.0 pt
ROE 4.05 13.92 10.98 0.07 (16.21) (3.61) 4.14 12.33 21.39 25.75 27.84 +21.7 pt
People
People Employees 4,600 4,800 5,100 4,600 3,900 4,100 4,500 4,600 4,500 4,500 — (0.2%)
Revenue/emp, $m 0.39 0.45 0.47 0.47 0.38 0.45 0.57 0.60 0.64 0.69 — +6.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jun 2026 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Carpenter Technology manufactures, fabricates and distributes specialty metals. Founded in 1889 and headquartered in Reading, the company is led by Chairman and Chief Executive Officer Tony Thene. Its materials are used in applications where customers have specific requirements for properties such as strength, temperature resistance and corrosion resistance.

The company sells titanium alloys, powder metals, stainless steels, alloy steels and tool steels. It also makes alloys engineered for additive manufacturing, a process that uses metal powder to make parts, and for soft magnetics applications. Its customers operate in aerospace, defense, medical, energy, transportation, industrial and consumer markets.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Specialty Alloys Operations 2,827 90.48%
Performance Engineered Products 383 12.26%
Gross margin 30.58%
Operating margin 22.47%
Pre-tax margin 21.00%

Revenue by segment since 2009

Carpenter Technology Corporation vs peers in Metal Fabrication (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ATI ATI Inc. $22.9B 41.3× 34.0× +26.49% (above 0%: growing) +77.54% (above 0%: growing) −59.00% (below 0%: shrinking) 26.71% 19.10% Compare
CRS Carpenter Technology Corporation $13.8B 24.6× 20.9× +8.79% (above 0%: growing) +33.06% (above 0%: growing) −629.41% (below 0%: shrinking) 32.11% 24.61%
MLI Mueller Industries, Inc. $11.4B 13.2× 13.4× +31.62% (above 0%: growing) +6.81% (above 0%: growing) +1.90% (above 0%: growing) 25.48% 19.85% Compare
CMC Commercial Metals Company $6.8B 10.6× 9.7× +25.72% (above 0%: growing) +41.18% (above 0%: growing) +38.70% (above 0%: growing) 18.87% 10.18% Compare
ESAB ESAB Corporation $4.9B 31.1× 18.2× +13.28% (above 0%: growing) −28.06% (below 0%: shrinking) −22.04% (below 0%: shrinking) 39.25% 11.15% Compare
GPGI CompoSecure, Inc. $4.0B — (loss-making) 15.1× −100.00% (below 0%: shrinking) n/m 0.00% 0.00% 0.00% Compare
WOR Worthington Enterprises, Inc. $3.0B 18.2× 16.3× +13.23% (above 0%: growing) +23.94% (above 0%: growing) +97.40% (above 0%: growing) 26.43% 3.79% Compare
PRLB Proto Labs, Inc. $1.5B 43.3× 47.5× +14.00% (above 0%: growing) +63.33% (above 0%: growing) −34.32% (below 0%: shrinking) 44.49% 9.36% Compare
RYZ Ryerson Holding Corporation $1.4B — (loss-making) — (loss-making) +87.50% (above 0%: growing) n/m −378.17% (below 0%: shrinking) 17.16% 2.36% Compare
Median of peers $4.4B 24.6× 16.3× +19.86% +32.56% −11.02% 25.96% 9.77%

All 18 Metal Fabrication stocks →

From the latest earnings call

Updated

  • CEO Tony Thene said commercial aerospace bookings rose 25% year over year, while defense bookings fell as customers faced funding constraints.
  • CFO Tim Lane said the brownfield expansion remained on schedule for completion by the start of fiscal 2028 and reiterated Carpenter’s fiscal 2027 cash-flow outlook.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 94.01%
Held by the ten largest 49.10%
Holder Shares Stake Change
BlackRock 6.22m 12.53% +394.37k
Vanguard 4.67m 9.42% +75.22k
Fidelity (FMR) 4.18m 8.44% −141.41k
State Street 1.91m 3.84% −101.64k
Invesco 1.58m 3.18% −396.00k
AQR Capital Management 1.45m 2.93% +730.47k
Jennison Associates 1.19m 2.40% +387.38k
JPMorgan Chase 1.18m 2.38% +779.02k
Geode Capital Management 1.01m 2.03% −86.79k
LONE PINE CAPITAL LLC 962.84k 1.94% −855.10k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 11 September 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 12.39m 72.15m 1,634.00
2025 8.42m 51.39m 1,249.00
2024 7.32m 26.23m 255.00
2023 6.43m 16.15m 120.00
2022 4.81m 1.68m 83.00

Ownership

Directors and executive officers, together 2.90%
BlackRock, Inc. 10.20%
FMR LLC 8.73%
Vanguard Capital Management LLC 5.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Carpenter Technology Corporation (CRS) Latest News

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CRS metrics, ten years each

stockrow.com/CRS · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com