Carpenter Technology Corporation (CRS) Stock

Carpenter Technology Corporation (CRS) is a Materials stock trading at $557.50 (as of 2026-07-17), with a market capitalization of $27.70B and a trailing P/E of 57.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals, including specialty alloys, additives, and metal powders and parts. It operates through Specialty Alloys Operations and Performance Engineered Products, serving aerospace, defense, medical, transportation, energy, industrial, and consumer markets across the United States, Europe, Asia Pacific, Mexico, Canada, and other international locations.

Understand Carpenter Technology Corporation: how it makes money

Carpenter Technology manufactures, fabricates, and distributes specialty metals, including specialty alloys (such as titanium alloys, stainless steels, alloy steels, and tool steels) plus metal powders and related parts, and it sells into aerospace, defense, medical, transportation, energy, industrial, and consumer markets.

The company breaks results into sales excluding surcharge versus surcharge revenue, implying that the underlying operating performance to watch is the business generating sales excluding surcharge (especially in SAO), rather than the portion coming from surcharge.

Revenue by segment (latest quarter)
SAO	$0.7B
PEP	$0.1B

Business quality (Solid): Good directional clarity on the profit model structure (surcharge versus sales excluding surcharge) and the two reportable segments, but the provided segment revenue breakdown is limited for PEP and there are no explicit operating metrics like backlog, units, or utilization to validate demand trends.

Valuation: At 59× earnings, CRS trades 142% above the Steel Works average (24×). Note: one-time items can distort reported P/E.

Bull case

Two focused reportable segments, Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP): Investors can track SAO using a dedicated metric that isolates underlying sales from surcharge effects.
Diversified end markets (aerospace, defense, medical, transportation, energy, industrial, and consumer): Demand is not tied to a single customer category, based on the company’s stated market coverage.

Bear case

Reported revenue includes separate surcharge revenue alongside sales excluding surcharge: If surcharges change due to underlying input costs, reported top line can move even when core performance (sales excluding surcharge) is less favorable.
Performance Engineered Products (PEP) is smaller in the provided figures than SAO: If execution or demand in PEP weakens, overall results may depend more heavily on SAO.

Valuation — source: SEC EDGAR (first-party)
Price	$557.50
Market Cap	$27.70B
P/E Ratio	57.8
EV / EBITDA	35.5
Price / Book	13.40
Price / Sales	9.15
FCF Yield	1.7%
DCF Value (model)	$102.70
DCF Upside vs Price	-81.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$2.88B
Net Margin	13.1%
Revenue Growth (YoY)	11.6%
EPS Growth (YoY)	46.8%
FCF Growth (YoY)	108.4%

Financial Health — source: SEC EDGAR
Altman Z-Score	12.87 (safe)

Valuation vs Sector & Industry
Stock P/E	57.8
Sector P/E (Materials)	26.1
Industry P/E (Steel Works)	25.6
vs Sector	121.5%
vs Industry	125.7%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($2.29B)
Institutional Holders Tracked	10
Congressional Trades (recent)	3

Company
Sector	Materials
Industry	Steel Works
CEO	Tony R. Thene
Employees	4,600
Country	US
IPO Date	1987-11-05

Related Companies (Business model: Mining & Metals Producers; 8 closest by market cap; US-domiciled)

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.