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CRS

Carpenter Technology NYSE:CRS Stock Report

Last Price

US$32.43

Market Cap

US$1.6b

7D

-7.1%

1Y

-0.9%

Updated

29 Sep, 2022

Data

Company Financials +
CRS fundamental analysis
Snowflake Score
Valuation5/6
Future Growth4/6
Past Performance0/6
Financial Health1/6
Dividends3/6

CRS Stock Overview

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally.

Carpenter Technology Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Carpenter Technology
Historical stock prices
Current Share PriceUS$32.43
52 Week HighUS$44.96
52 Week LowUS$24.76
Beta1.71
1 Month Change-7.79%
3 Month Change18.36%
1 Year Change-0.95%
3 Year Change-34.59%
5 Year Change-35.26%
Change since IPO171.67%

Recent News & Updates

Sep 20
Here's Why Carpenter Technology (NYSE:CRS) Can Afford Some Debt

Here's Why Carpenter Technology (NYSE:CRS) Can Afford Some Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Sep 12

Carpenter Technology jumps 7% on upgrade to Outperform by Cowen

Carpenter Technology (NYSE:CRS) upgraded to outperform from market perform with a $45 price target by Cowen analyst Gautam Khanna. Analyst elaborates that recent pullback in the shares provides an attractive entry point, sees accelerating earnings gains and a "catalyst-rich backdrop" with 787, 737 and A320 rate hikes as well as the investor day. Further mentions, lead times in "high margin" aero engine products are greater than 40 weeks. YTD the stock has gained about 27% and has a market cap $1.73B. Stock has a sell-side rating of Buy with 3.75 score and with an average price target of $49.33. Quant rating of Hold with 2.98 score and highest factor grades given to growth. Stock rises 7.3%.

Aug 12

Carpenter Technology declares $0.20 dividend

Carpenter Technology Corporation (NYSE:CRS) declares $0.20/share quarterly dividend, in line with previous. Forward yield 2.15% Payable Sept. 1; for shareholders of record Aug. 23; ex-div Aug. 22. See CRS Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

CRSUS Metals and MiningUS Market
7D-7.1%-2.2%-3.1%
1Y-0.9%-14.1%-21.5%

Return vs Industry: CRS exceeded the US Metals and Mining industry which returned -14.2% over the past year.

Return vs Market: CRS exceeded the US Market which returned -20.3% over the past year.

Price Volatility

Is CRS's price volatile compared to industry and market?
CRS volatility
CRS Average Weekly Movement6.8%
Metals and Mining Industry Average Movement8.8%
Market Average Movement6.9%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.8%

Stable Share Price: CRS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: CRS's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18894,100Tony Thenehttps://www.carpentertechnology.com

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.

Carpenter Technology Fundamentals Summary

How do Carpenter Technology's earnings and revenue compare to its market cap?
CRS fundamental statistics
Market CapUS$1.57b
Earnings (TTM)-US$49.20m
Revenue (TTM)US$1.84b

0.9x

P/S Ratio

-31.8x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CRS income statement (TTM)
RevenueUS$1.84b
Cost of RevenueUS$1.69b
Gross ProfitUS$143.80m
Other ExpensesUS$193.00m
Earnings-US$49.20m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-1.02
Gross Margin7.83%
Net Profit Margin-2.68%
Debt/Equity Ratio52.0%

How did CRS perform over the long term?

See historical performance and comparison

Dividends

2.5%

Current Dividend Yield

-79%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is CRS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CRS?

Other financial metrics that can be useful for relative valuation.

CRS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.2x
Enterprise Value/EBITDA21.7x
PEG Ration/a

Price to Sales Ratio vs Peers

How does CRS's PS Ratio compare to its peers?

CRS PS Ratio vs Peers
The above table shows the PS ratio for CRS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average0.8x
HCC Warrior Met Coal
0.9x-18.1%US$1.5b
ATI ATI
1.1x7.6%US$3.6b
AMR Alpha Metallurgical Resources
0.6x-20.2%US$2.4b
WOR Worthington Industries
0.4x-12.5%US$2.1b
CRS Carpenter Technology
0.9x14.1%US$1.6b

Price-To-Sales vs Peers: CRS is expensive based on its Price-To-Sales Ratio (0.9x) compared to the peer average (0.8x).


Price to Earnings Ratio vs Industry

How does CRS's PE Ratio compare vs other companies in the US Metals and Mining Industry?

Price-To-Sales vs Industry: CRS is good value based on its Price-To-Sales Ratio (0.9x) compared to the US Metals and Mining industry average (1x)


Price to Sales Ratio vs Fair Ratio

What is CRS's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CRS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.9x
Fair PS Ratio0.9x

Price-To-Sales vs Fair Ratio: CRS is good value based on its Price-To-Sales Ratio (0.9x) compared to the estimated Fair Price-To-Sales Ratio (0.9x).


Share Price vs Fair Value

What is the Fair Price of CRS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CRS ($32.43) is trading below our estimate of fair value ($99.4)

Significantly Below Fair Value: CRS is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Carpenter Technology forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


108.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CRS is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: CRS is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CRS is expected to become profitable in the next 3 years.

Revenue vs Market: CRS's revenue (14.1% per year) is forecast to grow faster than the US market (7.7% per year).

High Growth Revenue: CRS's revenue (14.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CRS's Return on Equity is forecast to be low in 3 years time (13.8%).


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Past Performance

How has Carpenter Technology performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-52.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CRS is currently unprofitable.

Growing Profit Margin: CRS is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CRS is unprofitable, and losses have increased over the past 5 years at a rate of 52.3% per year.

Accelerating Growth: Unable to compare CRS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CRS is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (82.4%).


Return on Equity

High ROE: CRS has a negative Return on Equity (-3.69%), as it is currently unprofitable.


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Financial Health

How is Carpenter Technology's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: CRS's short term assets ($1.1B) exceed its short term liabilities ($375.6M).

Long Term Liabilities: CRS's short term assets ($1.1B) do not cover its long term liabilities ($1.2B).


Debt to Equity History and Analysis

Debt Level: CRS's net debt to equity ratio (40.4%) is considered high.

Reducing Debt: CRS's debt to equity ratio has increased from 50.5% to 52% over the past 5 years.

Debt Coverage: CRS's debt is not well covered by operating cash flow (0.9%).

Interest Coverage: Insufficient data to determine if CRS's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Carpenter Technology current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.47%

Current Dividend Yield

Dividend Yield vs Market

Carpenter Technology Dividend Yield vs Market
How does Carpenter Technology dividend yield compare to the market?
SegmentDividend Yield
Company (Carpenter Technology)2.5%
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Metals and Mining)3.6%
Analyst forecast in 3 Years (Carpenter Technology)2.5%

Notable Dividend: CRS's dividend (2.47%) is higher than the bottom 25% of dividend payers in the US market (1.64%).

High Dividend: CRS's dividend (2.47%) is low compared to the top 25% of dividend payers in the US market (4.61%).


Stability and Growth of Payments

Stable Dividend: CRS's dividends per share have been stable in the past 10 years.

Growing Dividend: CRS's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: CRS is paying a dividend but the company is unprofitable.


Cash Payout to Shareholders

Cash Flow Coverage: CRS is paying a dividend but the company has no free cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

Tony Thene (62 yo)

7.17yrs

Tenure

US$4,814,008

Compensation

Mr. Tony R. Thene is Director of Mativ Holdings, Inc. from July 06, 2022. He serves as President and Chief Executive Officer of Carpenter Technology Corporation since July 1, 2015. He previously served as...


CEO Compensation Analysis

Tony Thene's Compensation vs Carpenter Technology Earnings
How has Tony Thene's remuneration changed compared to Carpenter Technology's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022US$5mUS$924k

-US$49m

Mar 31 2022n/an/a

-US$109m

Dec 31 2021n/an/a

-US$142m

Sep 30 2021n/an/a

-US$198m

Jun 30 2021US$5mUS$880k

-US$230m

Mar 31 2021n/an/a

-US$290m

Dec 31 2020n/an/a

-US$210m

Sep 30 2020n/an/a

-US$87m

Jun 30 2020US$4mUS$897k

US$1m

Mar 31 2020n/an/a

US$167m

Dec 31 2019n/an/a

US$178m

Sep 30 2019n/an/a

US$175m

Jun 30 2019US$5mUS$891k

US$165m

Mar 31 2019n/an/a

US$159m

Dec 31 2018n/an/a

US$139m

Sep 30 2018n/an/a

US$195m

Jun 30 2018US$5mUS$868k

US$187m

Mar 31 2018n/an/a

US$170m

Dec 31 2017n/an/a

US$161m

Sep 30 2017n/an/a

US$76m

Jun 30 2017US$9mUS$827k

US$47m

Mar 31 2017n/an/a

US$36m

Dec 31 2016n/an/a

-US$8m

Sep 30 2016n/an/a

-US$4m

Jun 30 2016US$3mUS$705k

US$11m

Compensation vs Market: Tony's total compensation ($USD4.81M) is about average for companies of similar size in the US market ($USD5.56M).

Compensation vs Earnings: Tony's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CRS's management team is considered experienced (3 years average tenure).


Board Members

Experienced Board: CRS's board of directors are considered experienced (4.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of CRS?
Owner TypeNumber of SharesOwnership Percentage
Private Companies00%
Individual Insiders995,8702.1%
General Public1,506,3993.1%
Institutions45,802,04294.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 79.66% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
16.59%
BlackRock, Inc.
8,012,708$259.9m2.95%0.01%
11.49%
The Vanguard Group, Inc.
5,551,348$180.0m14.48%no data
6.88%
Dimensional Fund Advisors LP
3,322,976$107.8m4.66%0.03%
6.17%
State Street Global Advisors, Inc.
2,979,404$96.6m-11.28%0.01%
5.17%
T. Rowe Price Group, Inc.
2,497,899$81.0m-1.37%0.01%
3.32%
AllianceBernstein L.P.
1,603,746$52.0m-42.12%0.02%
3.04%
Thrivent Investment Management, Inc.
1,467,759$47.6m15.83%0.13%
2.66%
BNY Mellon Asset Management
1,284,945$41.7m39.4%0.01%
2.61%
Frontier Capital Management Co LLC
1,261,341$40.9m-21.67%0.42%
2.43%
Emerald Advisers, LLC
1,174,318$38.1m40.7%1.07%
2.08%
Invesco Ltd.
1,002,582$32.5m-12.62%0.01%
1.88%
Mirae Asset Global Investments Co., Ltd
906,256$29.4m-7.33%0.05%
1.85%
Wellington Management Group LLP
896,032$29.1m17.53%0.01%
1.72%
Geode Capital Management, LLC
831,475$27.0m-1.24%no data
1.56%
Charles Schwab Investment Management, Inc.
753,089$24.4m7.48%0.01%
1.38%
Millennium Management LLC
667,678$21.7m0%0.03%
1.38%
FMR LLC
665,454$21.6m-45.64%no data
1.32%
Fisher Asset Management, LLC
637,644$20.7m3.61%0.02%
1.18%
Steven Karol
569,123$18.5m8.59%no data
1.05%
Northern Trust Global Investments
509,474$16.5m-1.13%no data
0.96%
Managed Account Advisors LLC
465,961$15.1m-6.7%no data
0.82%
Royce & Associates, LP
394,827$12.8m-14.14%0.13%
0.77%
Norges Bank Investment Management
371,422$12.0m0%no data
0.71%
Penn Capital Management Company, LLC
342,919$11.1m48.5%1.32%
0.64%
American Beacon Advisors, Inc.
310,895$10.1m0%0.15%

Company Information

Carpenter Technology Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Carpenter Technology Corporation
  • Ticker: CRS
  • Exchange: NYSE
  • Founded: 1889
  • Industry: Steel
  • Sector: Materials
  • Implied Market Cap: US$1.567b
  • Shares outstanding: 48.30m
  • Website: https://www.carpentertechnology.com

Number of Employees


Location

  • Carpenter Technology Corporation
  • 1735 Market Street
  • 15th Floor
  • Philadelphia
  • Pennsylvania
  • 19103
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CRSNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1968
XTYDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1968

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.