# Carpenter Technology Corp (CRS) — Stock CV

Carpenter Technology Corp is a $19.2B industrial company. Revenue grew 8.6% over the last year, it keeps 17¢ of every dollar of sales as profit, and its net debt equals ~0.9 years of free cash flow. It trades at 36.1× earnings — around the middle of its own history.

> Carpenter Technology Corp supplies specialty metals to a variety of end markets, including aerospace and defense, industrial machinery and consumer durables, medical, and energy, among others. The company's reportable segments include; Specialty Alloys Operations and Performance Engineered Products.

## Identity

- **Ticker**: CRS
- **Sector**: Industrials
- **Industry**: Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
- **Headquarters**: PHILADELPHIA, PA
- **Employees**: 4 500
- **Website**: https://www.carpentertechnology.com
- **Market cap**: $19.2B
- **Last price**: $387.71
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $3.12B
- **Net income**: $530M
- **Free cash flow**: $362M
- **Net debt**: $334M
- **P/E**: 36.1
- **Revenue growth (YoY)**: 8.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 41 |
| Growth | 40 |
| Profitability | 85 |
| Health | 95 |
| Quality | 84 |
| Moat | 18 |

## Qualifications (beginner checklist) — 11 of 11 passed

- [x] Revenue growing — +8.6% YoY
- [x] Profitable — $530M TTM
- [x] Profit growing — +109.3% YoY
- [x] Generates cash — $362M TTM
- [x] Debt under control — ~0.9y of cash flow to repay
- [x] Established company — $19.2B market cap
- [x] Not printing shares — +4.2% shares over ~5y
- [x] Proven track record — 9/11 profitable years
- [x] Financially stable — Altman Z 9.9 — safe
- [x] Pays a dividend — yield 0.21%
- [x] Valuation not extreme — P/E 36.1

## Experience (career milestones)

- **FY2026** — Best year on record: $530M net income
- **FY2016** — First recorded profitable year: $11.3M net income
- **FY2016** — Revenue already above $1B: $1.81B in first reported year

## Strengths

- Could repay net debt from ~0.8 years of free cash flow
- Interest covered 28.5× by operating earnings
- High returns on invested capital (ROIC 20.7%)
- Piotroski F-Score 9/9 — fundamentally strong checklist
- Altman Z-Score 9.94 — low bankruptcy-risk zone

## Watch-outs

- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $1.84B | -$49.1M | -$85.3M |
| FY2023 | $2.55B | $56.4M | -$67.6M |
| FY2024 | $2.76B | $187M | $178M |
| FY2025 | $2.88B | $376M | $286M |
| FY2026 | $3.12B | $530M | $362M |

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Source: https://stockcv.com/CRS — derived from company filings; may be delayed or incomplete. Information, not investment advice.