Carpenter Technology (CRS) financial statements
Carpenter Technology reported revenue of $3.1B in fiscal 2026, up 6.3% a year over 9 years.
Net income was $530M and the operating margin 22.5%, against 6.8% in 2017.
Free cash flow was $362M, and the company returned $40M in dividends and $179M in net buybacks.
The diluted share count rose 7% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Carpenter Technology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $2.2B | $2.4B | $2.2B | $1.5B | $1.8B | $2.6B | $2.8B | $2.9B | $3.1B |
| Cost of revenue | $1.5B | $1.8B | $1.9B | — | — | — | — | — | — | — |
| Gross profit | $301M | $382M | $445M | $329M | $1M | $150M | $337M | $584M | $769M | $956M |
| Research and development | $17M | $19M | $23M | $28M | $20M | $20M | $24M | $26M | $26M | $28M |
| Selling, general and admin | $176M | $193M | $203M | $201M | $180M | $175M | $204M | $230M | $243M | $254M |
| Operating income | $122M | $189M | $241M | $25M | -$249M | -$25M | $133M | $323M | $522M | $702M |
| Interest expense | $30M | $28M | $26M | $20M | $33M | $45M | $54M | $51M | $48M | $38M |
| Pre-tax income | $70M | $160M | $216M | $6M | -$298M | -$63M | $72M | $212M | $467M | $656M |
| Income tax | $23M | -$28M | $49M | $5M | -$68M | -$14M | $16M | $25M | $91M | $126M |
| Net income | $47M | $188M | $167M | $2M | -$230M | -$49M | $56M | $186M | $376M | $530M |
| EPS (diluted) | $0.99 | $3.92 | $3.43 | $0.02 | -$4.76 | -$1.01 | $1.14 | $3.70 | $7.42 | $10.52 |
| Diluted shares | 47M | 48M | 48M | 48M | 48M | 48M | 49M | 50M | 51M | 50M |
| Gross margin | 16.7% | 17.7% | 18.7% | 15.1% | 0.1% | 8.2% | 13.2% | 21.2% | 26.7% | 30.6% |
| Operating margin | 6.8% | 8.8% | 10.1% | 1.2% | -16.8% | -1.4% | 5.2% | 11.7% | 18.1% | 22.5% |
| Net margin | 2.6% | 8.7% | 7.0% | 0.1% | -15.6% | -2.7% | 2.2% | 6.8% | 13.1% | 17.0% |
Balance sheet
Fiscal years, from Carpenter Technology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $66M | $56M | $27M | $193M | $287M | $154M | $44M | $199M | $316M | $393M |
| Receivables | $290M | $378M | $384M | $292M | $309M | $382M | $531M | $563M | $576M | $702M |
| Inventory | $690M | $689M | $788M | $724M | $426M | $496M | $640M | $735M | $794M | $823M |
| Total current assets | $1.1B | $1.2B | $1.2B | $1.3B | $1.1B | $1.1B | $1.3B | $1.6B | $1.8B | $2.0B |
| Property, plant and equipment | $1.3B | $1.3B | $1.4B | $1.5B | $1.5B | $1.4B | $1.4B | $1.3B | $1.4B | $1.5B |
| Goodwill | $263M | $269M | $326M | $290M | $241M | $241M | $241M | $227M | $227M | $227M |
| Total assets | $2.9B | $3.0B | $3.2B | $3.2B | $3.0B | $2.9B | $3.1B | $3.3B | $3.5B | $3.8B |
| Total current liabilities | $396M | $363M | $416M | $452M | $306M | $376M | $459M | $466M | $484M | $520M |
| Long-term debt | $550M | $546M | $551M | $552M | $694M | $692M | $693M | $694M | $695M | $691M |
| Total liabilities | $1.7B | $1.5B | $1.7B | $1.8B | $1.6B | $1.6B | $1.7B | $1.7B | $1.6B | $1.6B |
| Shareholders' equity | $1.2B | $1.5B | $1.5B | $1.4B | $1.4B | $1.3B | $1.4B | $1.6B | $1.9B | $2.2B |
| Net debt | $539M | $490M | $524M | $359M | $407M | $538M | $648M | $495M | $380M | $297M |
Cash flow
Fiscal years, from Carpenter Technology's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $130M | $209M | $232M | $232M | $250M | $6M | $15M | $275M | $440M | $605M |
| Capital spending | $98M | $135M | $180M | $171M | $100M | $91M | $82M | $97M | $154M | $243M |
| Free cash flow | $32M | $74M | $52M | $60M | $150M | -$85M | -$68M | $178M | $286M | $362M |
| Stock-based compensation | $13M | $18M | $18M | $11M | $10M | $11M | $16M | $20M | $23M | $26M |
| Dividends paid | $34M | $34M | $39M | $39M | $39M | $39M | $39M | $40M | $40M | $40M |
| Share buybacks (net) | $0 | $0 | — | — | — | — | $0 | $0 | -$102M | -$179M |
| Net borrowing | $0 | -$55M | $0 | $0 | -$250M | -$300M | $0 | $0 | $0 | -$700M |
| Free cash flow margin | 1.8% | 3.4% | 2.2% | 2.8% | 10.1% | -4.6% | -2.7% | 6.5% | 9.9% | 11.6% |
| Dividends per share | $0.72 | $0.72 | $0.80 | $0.80 | $0.81 | $0.81 | $0.80 | $0.80 | $0.79 | $0.80 |
Questions
What was Carpenter Technology's revenue in 2026?
$3.1B in fiscal 2026, from its 10-K filing.
How much free cash flow does Carpenter Technology generate?
$362M in fiscal 2026 (operating cash flow minus capital spending).
From Carpenter Technology's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.