CRS
Carpenter Technology Corporation
CRS's fundamentals are strong and it looks cheap: trading at 26x earnings, below its usual 38x. Analysts expect strong earnings growth.
CRS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Healthy |
CRS's revenue, profitability, cash flow and balance sheet are all currently healthy.
CRS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 20x | $222 | -26% |
| Forward | 22x | $300 | — |
| Current | 26x | $300 | — |
| Fair | 38x | $427 | +43% |
| Expensive | 50x | $572 | +91% |
Historical ranges are pointers, not guarantees.
CRS's PE is in its cheap range at 26x. If earnings grow as analysts expect, today's price would be 22x next year's earnings.
CRS Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for CRS, with profitability improving.
CRS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.93 | +23% |
| Q3 2026 | $11.34 | +39% |
| Q2 2026 | $10.52 | +42% |
| Q1 2026 | $9.50 | +35% |
| Q4 2025 | $8.61 | +62% |
| Q3 2025 | $8.18 | +82% |
| Q2 2025 | $7.42 | +101% |
| Q1 2025 | $7.06 | +169% |
| Q4 2024 | $5.30 | +84% |
CRS's earnings per share have climbed steadily: $11.34 over the past year, up 39% from the year before, and higher year over year for 20 quarters in a row.
CRS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $798.2M | +8.8% |
| Q2 2026 | $851M | +13% |
| Q1 2026 | $811.5M | +12% |
| Q4 2025 | $728M | +7.5% |
| Q3 2025 | $733.7M | +2.2% |
| Q2 2025 | $755.6M | -5.4% |
| Q1 2025 | $727M | +6.1% |
| Q4 2024 | $676.9M | +8.4% |
CRS's revenue is recovering but still below its 2023 peak: $798M last quarter, up 8.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | +3.7 points |
| Q2 2026 | 24% | +4.3 points |
| Q1 2026 | 23% | +4 points |
| Q4 2025 | 21% | +3.8 points |
| Q3 2025 | 21% | +5.1 points |
| Q2 2025 | 20% | +6.5 points |
| Q1 2025 | 19% | +7.9 points |
| Q4 2024 | 18% | +6.4 points |
CRS's operating margin was 25% last quarter, up 3.7 points from the same quarter a year ago, near the top of its range since 2019.
CRS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$24.9M | -$21.5M |
| Q2 2026 | $155M | -23% |
| Q1 2026 | $124.8M | +267% |
| Q4 2025 | $85.9M | +123% |
| Q3 2025 | -$3.4M | -126% |
| Q2 2025 | $200.1M | +41% |
| Q1 2025 | $34M | -45% |
| Q4 2024 | $38.6M | +$49.4M |
CRS usually generates cash, though not every quarter: the latest was −$25M, but it generated $341M over the past year.
CRS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -200K shares |
| 1 year | -0.8% | -400K shares |
| 3 years | +0.2% | +100K shares |
| 5 years | +3.1% | +1.5M shares |
| Available history | +3.1% | +1.5M shares |
CRS has 50M diluted shares, down 0.8% from a year ago, with $264M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $133.9M |
| Q2 2026 | $45.2M |
| Q1 2026 | $52.7M |
| Q4 2025 | $32.1M |
| Q3 2025 | $49.1M |
| Q2 2025 | $24.1M |
| Q1 2025 | $37.5M |
| Q4 2024 | $8.2M |
CRS spent $264M buying back its own shares over the past year, up 122% from the year before.
CRS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.6x | Very low |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 0.5x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.6x | Very low |
| Q1 2025 | 0.9x | Very low |
| Q4 2024 | 1.0x | Very low |
CRS's net debt is less than a year of its operating earnings (EBITDA).
CRS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.0 | Neutral |
| Stochastic | 4.9 | Oversold |
CRS's weekly RSI is 32 (neutral) and its Stochastic is 5 (oversold).
CRS PE vs Industrials Sector
| Metric | CRS | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 24x | 9.9% above |
| PE % | 22 | 58 | 36 pts below |
CRS is trading at 26x earnings, in line with the Industrials sector's median of 24x.
CRS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $336.7 | 11% below |
| 20 week MA | $448.1 | 33% below |
| 50 week MA | $420.4 | 29% below |
| 100 week MA | $326.6 | 8.3% below |
| 200 week MA | $206.4 | 45% above |
CRS has fallen below most of its moving averages, though it's still 45% above its 200-week average.
CRS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $50.3 | $28.6 | -43% |
| 2021 | $28.6 | $29.0 | +1.2% |
| 2022 | $29.0 | $37.8 | +30% |
| 2023 | $37.8 | $70.8 | +87% |
| 2024 | $70.8 | $170.7 | +141% |
| 2025 | $170.7 | $334.4 | +96% |
| 2026 YTD | $334.4 | $299.6 | -10% |
CRS's yearly returns have swung widely, from +141% in 2024 to −43% in 2020. It's down 10% so far in 2026.