Carpenter Technology
CRS · NYSESteel Works, Blast Furnaces & Rolling Mills (Coke Ovens) · Fiscal year ends Jun 30
Carpenter Technology reported revenue of $3.1B in the fiscal year ended Jun 2026, up 8.6% from the year before. Operating income was $702M, an operating margin of 22.5%, and net income was $530M. Operating cash flow of $605M less capital expenditure of $243M left free cash flow of $362M. Net debt was $297M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | $1.8B | $2.6B | $2.8B | $2.9B | $3.1B |
| Gross profit | $150M | $337M | $584M | $769M | $956M |
| Research & development | $20M | $24M | $26M | $26M | $28M |
| Selling, general & admin | $175M | $204M | $230M | $243M | $254M |
| Operating income | −$25M | $133M | $323M | $522M | $702M |
| Interest expense | $45M | $54M | $51M | $48M | $38M |
| Pre-tax income | −$63M | $73M | $212M | $467M | $656M |
| Income tax | −$14M | $16M | $25M | $91M | $126M |
| Net income | −$49M | $56M | $187M | $376M | $530M |
| Diluted EPS | −1.01 | 1.14 | 3.70 | 7.42 | 10.52 |
| Diluted shares | 49M | 49M | 50M | 51M | 50M |
Balance sheet
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $154M | $45M | $199M | $316M | $393M |
| Receivables | $382M | $531M | $563M | $576M | $702M |
| Inventory | $496M | $640M | $735M | $794M | $823M |
| Current assets | $1.1B | $1.3B | $1.6B | $1.8B | $2B |
| Net PP&E | $1.4B | $1.4B | $1.3B | $1.4B | $1.5B |
| Goodwill | $241M | $241M | $227M | $227M | $227M |
| Total assets | $2.9B | $3.1B | $3.3B | $3.5B | $3.8B |
| Payables | $242M | $278M | $264M | $267M | $313M |
| Deferred revenue | $14M | $14M | $12M | $5M | $7M |
| Current liabilities | $376M | $459M | $466M | $484M | $520M |
| Short-term debt | $0 | $0 | – | – | – |
| Long-term debt | $692M | $693M | $694M | $695M | $691M |
| Total liabilities | $1.6B | $1.7B | $1.7B | $1.6B | $1.6B |
| Shareholders' equity | $1.3B | $1.4B | $1.6B | $1.9B | $2.2B |
Cash flow
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $6M | $15M | $275M | $440M | $605M |
| Capital expenditure | $91M | $82M | $97M | $154M | $243M |
| Free cash flow | −$85M | −$68M | $178M | $286M | $362M |
| Depreciation & amortisation | $131M | $131M | $135M | $139M | $147M |
| Stock-based compensation | $11M | $16M | $20M | $23M | $26M |
| Share buybacks | – | $0 | $0 | $102M | $179M |
| Dividends paid | $39M | $39M | $40M | $40M | $40M |
| Dividend per share | 0.80 | 0.80 | 0.80 | 0.80 | 0.80 |
Key ratios
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 38.9% | 8.2% | 4.3% | 8.6% |
| Operating income growth (YoY) | – | – | 142.7% | 61.5% | 34.5% |
| EPS growth (YoY) | – | – | 224.6% | 100.5% | 41.8% |
| Gross margin | 8.2% | 13.2% | 21.2% | 26.7% | 30.6% |
| Operating margin | −1.4% | 5.2% | 11.7% | 18.1% | 22.5% |
| Net margin | −2.7% | 2.2% | 6.8% | 13.1% | 17.0% |
| Return on equityBlank when equity is negative | −3.7% | 4.0% | 11.5% | 19.9% | 23.8% |
| ROCEEBIT ÷ (assets − current liabilities) | −1.0% | 5.1% | 11.4% | 17.4% | 21.2% |
| Free cash flow margin | −4.6% | −2.7% | 6.5% | 9.9% | 11.6% |
| Cash conversion (CFO ÷ net income) | −0.12x | 0.26x | 1.47x | 1.17x | 1.14x |
| Receivable days | 76 | 76 | 74 | 73 | 82 |
| Inventory days | 107 | 106 | 123 | 137 | 138 |
| Payable days | 52 | 46 | 44 | 46 | 53 |
| Interest cover | −0.55x | 2.46x | 6.34x | 10.8x | 18.6x |
| Debt ÷ equity | 0.52x | 0.50x | 0.43x | 0.37x | 0.31x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $538M | $649M | $495M | $380M | $297M |
| Current ratio | 2.98x | 2.79x | 3.41x | 3.65x | 3.81x |
Recent filings
More in Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.