Latest Ratios: P/E Ratio 79.6x · EV/EBITDA 45.0x · ROE 21.4%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $29.3B | $14.0B | $5.5B | $2.8B | $1.4B | $1.9B | $1.2B | $2.3B | $2.5B | $1.8B | $1.6B |
| Enterprise Value | $29.8B | $14.4B | $6.1B | $3.5B | $1.9B | $2.4B | $1.8B | $2.9B | $3.0B | $2.3B | $2.1B |
| P/E Ratio → | 79.56 | 37.25 | 29.62 | 49.24 | — | — | 1064.91 | 13.83 | 13.28 | 37.81 | 143.17 |
| P/S Ratio | 10.20 | 4.87 | 2.00 | 1.08 | 0.74 | 1.32 | 0.54 | 0.97 | 1.16 | 0.98 | 0.88 |
| P/B Ratio | 15.86 | 7.43 | 3.38 | 1.98 | 1.02 | 1.40 | 0.81 | 1.52 | 1.68 | 1.47 | 1.44 |
| P/FCF | 102.52 | 48.98 | 30.91 | — | — | 12.99 | 19.38 | 44.30 | 33.72 | 57.24 | 9.82 |
| P/OCF | 66.60 | 31.82 | 20.05 | 187.86 | 225.61 | 7.77 | 5.05 | 9.93 | 11.96 | 13.63 | 6.18 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.02 | 2.19 | 1.36 | 1.06 | 1.62 | 0.81 | 1.20 | 1.39 | 1.28 | 1.17 |
| EV / EBITDA | 45.01 | 21.84 | 13.23 | 13.11 | 18.25 | — | 11.80 | 7.86 | 9.78 | 9.62 | 12.38 |
| EV / EBIT | 57.02 | 27.17 | 21.86 | 25.35 | — | — | 67.98 | 11.78 | 15.87 | 23.02 | 42.76 |
| EV / FCF | — | 50.46 | 33.95 | — | — | 16.01 | 29.15 | 54.72 | 40.32 | 74.73 | 13.09 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.7% | 26.7% | 21.2% | 13.2% | 8.2% | 0.1% | 15.1% | 18.7% | 17.7% | 16.7% | 14.1% |
| Operating Margin | 18.1% | 18.1% | 11.7% | 5.2% | -1.4% | -16.8% | 1.2% | 10.1% | 8.8% | 6.8% | 2.8% |
| Net Profit Margin | 13.1% | 13.1% | 6.8% | 2.2% | -2.7% | -15.6% | 0.1% | 7.0% | 8.7% | 2.6% | 0.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.4% | 21.4% | 12.3% | 4.1% | -3.6% | -16.2% | 0.1% | 11.1% | 14.0% | 4.1% | 0.9% |
| ROA | 11.1% | 11.1% | 5.9% | 1.9% | -1.7% | -7.4% | 0.0% | 5.4% | 6.4% | 1.7% | 0.4% |
| ROIC | 17.5% | 17.5% | 11.4% | 5.0% | -1.0% | -9.6% | 0.9% | 9.0% | 7.6% | 5.4% | 2.2% |
| ROCE | 17.9% | 17.9% | 11.9% | 5.2% | -1.0% | -9.1% | 0.9% | 8.9% | 7.4% | 4.9% | 2.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.39 | 0.39 | 0.46 | 0.53 | 0.56 | 0.53 | 0.54 | 0.38 | 0.37 | 0.50 | 0.55 |
| Debt / EBITDA | 1.12 | 1.12 | 1.62 | 2.82 | 6.99 | — | 5.25 | 1.57 | 1.78 | 2.53 | 3.58 |
| Net Debt / Equity | — | 0.22 | 0.33 | 0.50 | 0.44 | 0.32 | 0.41 | 0.36 | 0.33 | 0.45 | 0.48 |
| Net Debt / EBITDA | 0.64 | 0.64 | 1.18 | 2.66 | 5.54 | — | 3.96 | 1.50 | 1.60 | 2.25 | 3.10 |
| Debt / FCF | — | 1.48 | 3.04 | — | — | 3.02 | 9.78 | 10.43 | 6.60 | 17.49 | 3.27 |
| Interest Coverage | 8.31 | 8.31 | 4.24 | 2.13 | -0.41 | -7.87 | 1.31 | 9.28 | 6.66 | 3.36 | 1.77 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.65 | 3.65 | 3.41 | 2.79 | 2.98 | 3.65 | 2.80 | 2.97 | 3.24 | 2.76 | 3.38 |
| Quick Ratio | 2.01 | 2.01 | 1.84 | 1.40 | 1.66 | 2.26 | 1.20 | 1.08 | 1.35 | 1.02 | 1.28 |
| Cash Ratio | 0.65 | 0.65 | 0.43 | 0.10 | 0.41 | 0.94 | 0.43 | 0.06 | 0.15 | 0.17 | 0.27 |
| Asset Turnover | — | 0.83 | 0.84 | 0.84 | 0.63 | 0.50 | 0.68 | 0.75 | 0.72 | 0.62 | 0.65 |
| Inventory Turnover | 2.66 | 2.66 | 2.96 | 3.46 | 3.40 | 3.46 | 2.56 | 2.46 | 2.58 | 2.17 | 2.48 |
| Days Sales Outstanding | — | 73.01 | 74.41 | 76.04 | 75.99 | 76.36 | 48.92 | 58.90 | 64.03 | 58.97 | 51.04 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.3% | 0.7% | 1.4% | 2.9% | 2.0% | 3.3% | 1.7% | 1.4% | 1.9% | 2.2% |
| Payout Ratio | 10.7% | 10.7% | 21.4% | 69.9% | — | — | 2586.7% | 23.1% | 18.2% | 72.6% | 308.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.3% | 2.7% | 3.4% | 2.0% | — | — | 0.1% | 7.2% | 7.5% | 2.6% | 0.7% |
| FCF Yield | 1.0% | 2.0% | 3.2% | — | — | 7.7% | 5.2% | 2.3% | 3.0% | 1.7% | 10.2% |
| Buyback Yield | 0.3% | 0.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 7.8% |
| Total Shareholder Yield | 0.5% | 1.0% | 0.7% | 1.4% | 2.9% | 2.0% | 3.3% | 1.7% | 1.4% | 1.9% | 10.0% |
| Shares Outstanding | — | $51M | $50M | $49M | $49M | $48M | $48M | $48M | $48M | $47M | $48M |
Aerospace supply chain volatility
Based on recent market data, CRS trades at a forward P/E of 55.94, which, according to industry benchmarks, suggests that investors are pricing in significant long-term earnings expansion rather than current cyclical performance, despite the stock's elevated P/S multiple of 10.22 relative to historical averages.
The current valuation multiples appear to reflect a market premium for the company's specialized metallurgical moat and its position as a critical supplier to aerospace OEMs. While the P/E ratio is high, the PEG ratio of 0.37 suggests that the market may be underestimating the potential for rapid earnings growth as capacity utilization at the Athens facility continues to scale.
As reported in financial statements, the company's ROIC has trended upward from 2.4% in 2024Q2 to 5.7% in 2026Q3, indicating that management is successfully improving the efficiency of its capital base as the business shifts toward higher-margin, specialized alloy products within the aerospace sector.
The steady improvement in ROIC suggests that the massive capital investments in the Athens facility are finally reaching a critical inflection point in terms of return generation. This trend warrants further investigation to determine if the company can sustain these returns as it moves deeper into the current aerospace upcycle.
According to quarterly filings, the cash conversion cycle has fluctuated significantly, reaching 157 days in 2026Q3, which, based on reported figures, highlights the inherent challenges of managing long lead-time inventory in a high-purity metallurgical business that is sensitive to aerospace supply chain restocking cycles.
The elevated DIO of 134 days suggests that the company maintains substantial inventory buffers to ensure supply chain reliability for its aerospace customers. While this ties up working capital, it serves as a strategic necessity given the rigorous qualification requirements for its specialized products.
Based on the latest balance sheet data, the company maintains a current ratio of 3.73 as of 2026Q3, which, compared to historical levels, indicates a robust liquidity position that provides significant insulation against the volatility typically associated with the cyclical aerospace manufacturing industry.
The strong quick ratio of 2.08 further confirms that the company is not overly dependent on inventory liquidation to meet its short-term obligations. This liquidity profile appears to be a deliberate strategic choice by management to navigate the capital-intensive nature of the business without relying on external financing.
Investors frequently misapply headline gross margins to assess profitability, but as reported in SEC filings, the surcharge mechanism for raw materials can artificially compress these percentages, making it essential to analyze margins on an ex-surcharge basis to understand the true underlying earning power of the business.
Relying solely on reported gross margins obscures the impact of nickel and cobalt price volatility on the company's financial performance. Analysts should adjust for these pass-through costs to accurately evaluate whether the company is achieving genuine margin expansion through product mix improvements or merely reflecting commodity price fluctuations.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CRS stock.
Carpenter Technology Corporation's current P/E ratio is 79.6x. The historical average is 26.8x. This places it at the 96th percentile of its historical range.
Carpenter Technology Corporation's current EV/EBITDA is 45.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.7x.
Carpenter Technology Corporation's return on equity (ROE) is 21.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 8.6%.
Based on historical data, Carpenter Technology Corporation is trading at a P/E of 79.6x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Carpenter Technology Corporation's current dividend yield is 0.13% with a payout ratio of 10.7%.
Carpenter Technology Corporation has 26.7% gross margin and 18.1% operating margin. Operating margin between 10-20% is typical for established companies.
Carpenter Technology Corporation's Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.