Carpenter Technology (CRS)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $17.8B, Carpenter Technology's free cash flow of $362M (fiscal 2026) would need to grow about 17% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Carpenter Technology's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from CRS's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Carpenter Technology's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Revenue | $1.8B | $2.6B | $2.8B | $2.9B | $3.1B |
| Net income | -$49M | $56M | $186M | $376M | $530M |
| Free cash flow | -$85M | -$68M | $178M | $286M | $362M |
| EPS (diluted) | -$1.01 | $1.14 | $3.70 | $7.42 | $10.52 |
| Operating margin | -1.4% | 5.2% | 11.7% | 18.1% | 22.5% |
Where the revenue comes from
Revenue by segments, fiscal 2026.
Superinvestors who own CRS
From each investor's latest 13F filing (what a 13F shows). 5 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
Added | $900M | 0.31% | Q2 2026 |
| Stephen Mandel Lone Pine Capital |
Trimmed | $594M | 3.6% | Q2 2026 |
| Dan Loeb Third Point LLC |
Trimmed | $133M | 2.8% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $64M | 0.15% | Q2 2026 |
| Eric Marshall Hodges Capital Management |
Trimmed | $18M | 1.2% | Q2 2026 |
Insider buying
Open-market purchases by Carpenter Technology's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Feb 4, 2026 | Markwayne Mullin |
0 | $334.34 | — |
| Feb 4, 2026 | Markwayne Mullin |
0 | $334.34 | — |
| Jan 5, 2026 | Markwayne Mullin |
0 | $340.46 | — |
| Jan 5, 2026 | Markwayne Mullin |
0 | $340.46 | — |
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In the full deep dive
Questions
What growth does Carpenter Technology's stock price imply?
At a market value of $17.8B, Carpenter Technology would need its free cash flow to grow about 17% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 31% a year.
Are Carpenter Technology insiders buying the stock?
4 open-market insider purchases of CRS in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Carpenter Technology?
5 of the superinvestors Investingly tracks hold CRS in their latest 13F, including Cliff Asness, Stephen Mandel, Dan Loeb.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.