Carpenter Technology Corporation (CRS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-0.5%

$287.34

vs $288.66 price

Levered DCF

$278.22

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

8.35

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	58.25×	36.9×	28.53×	48.81×	-27.63×	-8.47×	1,060.26×	13.77×
P/B	13.85×	7.35×	3.26×	1.96×	1.02×	1.4×	0.81×	1.51×
P/S	9.87×	4.82×	1.93×	1.07×	0.74×	1.32×	0.54×	0.97×
EV / EBITDA	37.02×	21.33×	14.23×	12.86×	17.17×	-17.02×	11.74×	7.81×
Gross margin	30.6%	26.7%	21.2%	13.2%	8.2%	0.1%	15.1%	18.7%
Operating margin	22.5%	18.1%	11.7%	5.2%	-1.4%	-16.8%	1.2%	10.1%
Net margin	17.0%	13.1%	6.8%	2.2%	-2.7%	-15.6%	0.1%	7.0%
Current ratio	3.81×	3.65×	3.41×	2.79×	2.98×	3.65×	2.8×	2.97×
Debt / equity	0.31×	0.39×	0.46×	0.53×	0.56×	0.53×	0.54×	0.38×
Interest coverage	18.57×	8.17×	4.94×	2.08×	-0.55×	-7.4×	1.28×	9.25×
Dividend yield	0.1%	0.3%	0.8%	1.4%	2.9%	2.0%	3.3%	1.7%
Payout ratio	7.6%	10.7%	21.4%	69.9%	-79.8%	-17.0%	2586.7%	23.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	23.8%	19.9%	11.5%	4.0%	-3.7%	-16.5%	0.1%	11.0%
Return on invested capital	17.1%	13.9%	10.0%	4.0%	-0.8%	-7.2%	0.2%	6.7%
Return on assets	13.8%	10.8%	5.7%	1.8%	-1.7%	-7.7%	0.0%	5.2%
Free cash flow yield	1.2%	2.1%	3.4%	-2.5%	-6.3%	7.7%	5.2%	2.3%
Earnings yield	1.7%	2.7%	3.5%	2.1%	-3.6%	-11.8%	0.1%	7.3%
Enterprise value	$31.1B	$14.3B	$5.9B	$3.4B	$1.9B	$2.4B	$1.8B	$2.8B
Net debt / EBITDA	0.35×	0.63×	1.32×	2.62×	5.21×	-3.21×	3.94×	1.49×
Cash conversion cycle (days)	168	164	154	136	131	146	167	162