Carpenter Technology Corporation (CRS) vs Ryerson Holding Corporation (RYZ)

Carpenter Technology Corporation and Ryerson Holding Corporation are both Metal Fabrication companies. Carpenter Technology Corporation is the larger, with a market value of $19.9B against $1.2B — 16.2× the size. Ryerson Holding Corporation has negative trailing earnings, so its P/E is not meaningful; Carpenter Technology Corporation trades at 37.5×. Ryerson Holding Corporation grew revenue faster over the last twelve months: 31.5% against 8.59%. Carpenter Technology Corporation has the higher net margin (17.0% vs −0.56%) and the higher return on invested capital (17.4% vs 0.53%). Both pay a dividend; Ryerson Holding Corporation yields more (2.11% vs 1.27%). Across the 20 metrics below, Carpenter Technology Corporation leads on 14 and Ryerson Holding Corporation on 6.

Valuation

Metric CRS RYZ Metal Fabrication median
P/E 37.47 n/m 17.15
P/S 6.35 0.21 1.14
P/B 8.91 0.95 1.71
Price to free cash flow 54.77 n/m 22.10
EV/EBITDA 23.73 18.71 17.60
EV/Sales 6.45 0.37 1.96
Earnings yield 2.67% (5.16%) 2.28%
Free cash flow yield 1.83% (9.91%) 0.92%

Profitability

Metric CRS RYZ Metal Fabrication median
Gross margin 30.58% 17.34% 21.08%
Operating margin 22.47% 0.32% 5.14%
Net margin 16.96% (0.56%) 4.70%
Free cash flow margin 11.60% (2.10%) 1.45%
Return on equity 25.75% (3.08%) 0.00%
Return on assets 14.47% (1.03%) 1.56%
Return on invested capital 17.38% 0.53% 2.19%

Growth

Metric CRS RYZ Metal Fabrication median
Revenue growth (TTM) 8.59% 31.54% 9.93%
EPS growth (last fiscal year) 41.78% (576.92%) —
Revenue growth, 5-year CAGR 16.19% 5.69% 6.12%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CRS RYZ Metal Fabrication median
Debt to equity 0.31 0.74 0.30
Current ratio 3.81 2.21 2.08
Net debt to EBITDA 0.35 8.90 1.02

Dividend

Metric CRS RYZ Metal Fabrication median
Dividend yield 1.27% 2.11% 1.69%
Payout ratio 0.70 0.20 0.06

Size

Metric CRS RYZ Metal Fabrication median
Market cap 19.87b 1.23b 896.96m

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