CARPENTER TECHNOLOGY CORP

CRS · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) · 49.7M shares · +1%/yr ↑ shares · EDGAR filings ↗

Reference price $487.74 · est. market cap ~$24.2B — last insider sale, 2026-06-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B79

High-return specialty-alloys franchise riding an aerospace/defense upcycle with doubling earnings and qualification-based barriers.

Strengths

Top-decile ROA 10.8% (90th pct), ROE 19.9% (78th pct) and operating margin 18.1% (85th pct); net income roughly doubled (82nd pct)
Defensible position in qualified high-performance alloys (fewer than 10 major competitors), strong liquidity (current ratio 3.65)

Risks

End-markets (aerospace, defense, energy) are cyclical and the earnings surge reflects an upcycle; revenue growth only 40th pct
Reported gross margin low (28th pct) due to surcharge dilution; raw-material (nickel/cobalt) and pension exposure

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Strong balance sheetStrong balance sheet — $316M cash & investments
Insider sellingInsider selling — 16 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$15M, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-30 · $756M2025-09-30 · $734M2025-12-31 · $728M2026-03-31 · $812M

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

26.7%

Operating margin

18.1%

Net margin

13.1%

Return on equity

19.9%

Return on assets

10.8%

ROIC

16.0%

Revenue growth (QoQ)

11.5%

Net-income growth

101.6%

Debt / equity

0.4×

Net debt / EBITDA

0.6×

Current ratio

3.6×

EBITDA

$661M

Tangible book value

$1.7B

Cash & investments

$316M

Stock comp / revenue

0.8%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-01	KAROL STEVEN E	Sell	2.0K	$487.74
2026-05-28	HART ANASTASIOS JOHN	Sell	250	$461.88
2026-05-28	HART ANASTASIOS JOHN	Option exercise	250	$45.12
2026-05-05	AKINS MARSHALL D	Sell	999	$438.87
2026-05-05	AKINS MARSHALL D	Sell	850	$439.86
2026-05-05	AKINS MARSHALL D	Sell	2.0K	$441.18
2026-05-05	AKINS MARSHALL D	Sell	2.9K	$442.15
2026-05-05	AKINS MARSHALL D	Sell	3.4K	$443.37
2026-05-05	AKINS MARSHALL D	Sell	235	$443.78
2026-05-05	AKINS MARSHALL D	Sell	560	$436.37
2026-05-05	AKINS MARSHALL D	Sell	837	$437.86
2026-05-04	HART ANASTASIOS JOHN	Option exercise	750	$45.12
2026-05-04	HART ANASTASIOS JOHN	Sell	750	$423.86
2026-02-24	DEE JAMES D	Sell	6.0K	$391.20
2026-02-24	DEE JAMES D	Sell	7.1K	$391.82
2026-02-24	DEE JAMES D	Sell	2.7K	$392.98
2026-02-19	KAROL STEVEN E	Sell	3.0K	$380.00
2026-02-19	KAROL STEVEN E	Sell	3.5K	$381.12
2025-12-15	SOCCI ELIZABETH A	Gift	450	—
2025-12-11	Malloy Brian J	Sell	2.1K	$304.00
2025-12-11	Malloy Brian J	Sell	2.0K	$303.00
2025-12-11	Malloy Brian J	Option exercise	4.1K	$44.13
2025-12-10	Malloy Brian J	Sell	5.5K	$302.62
2025-12-10	Malloy Brian J	Option exercise	32K	$39.02
2025-12-10	Malloy Brian J	Option exercise	5.5K	$40.43
2025-12-10	Malloy Brian J	Option exercise	4.3K	$58.94
2025-12-10	Malloy Brian J	Option exercise	2.1K	$44.13
2025-12-10	Malloy Brian J	Sell	1.6K	$300.25
2025-12-10	Malloy Brian J	Sell	3.3K	$301.65
2025-12-10	Malloy Brian J	Sell	5.7K	$303.45
2025-12-10	Malloy Brian J	Sell	6.1K	$304.47
2025-12-10	Malloy Brian J	Sell	12K	$305.55
2025-12-10	Malloy Brian J	Sell	9.5K	$306.41
2025-12-10	Malloy Brian J	Sell	100	$307.45
2025-12-09	Malloy Brian J	Sell	605	$308.53
2025-12-09	Malloy Brian J	Option exercise	25K	$39.02
2025-12-09	Malloy Brian J	Option exercise	5.8K	$39.02
2025-12-09	Malloy Brian J	Sell	6.7K	$303.74
2025-12-09	Malloy Brian J	Gift	3.3K	—
2025-12-09	Malloy Brian J	Sell	7.3K	$304.52
2025-12-09	Malloy Brian J	Sell	5.1K	$305.65
2025-12-09	Malloy Brian J	Sell	1.9K	$306.46
2025-12-09	Malloy Brian J	Sell	980	$307.68
2025-12-09	Malloy Brian J	Sell	741	$308.61
2025-12-09	Malloy Brian J	Sell	1.1K	$310.20
2025-12-09	Malloy Brian J	Sell	3.2K	$307.99
2025-11-26	SOCCI ELIZABETH A	Sell	3.9K	$321.25
2025-11-21	Younessi Ramin	Gift	975	—
2025-11-21	Younessi Ramin	Sell	1.3K	$307.19
2025-11-18	AKINS MARSHALL D	Gift	645	—
2025-10-13	WARD JR STEPHEN M	Tax withheld	494	$241.99
2025-10-13	WARD JR STEPHEN M	Option exercise	3.4K	$34.76
2025-09-09	KAROL STEVEN E	Sell	3.4K	$245.78
2025-09-09	KAROL STEVEN E	Option exercise	3.4K	$34.76
2025-08-18	INGLIS I MARTIN	Option exercise	2.4K	$49.52
2025-08-18	INGLIS I MARTIN	Sell	5.7K	$244.54
2025-08-18	Thene Tony R	Sell	13K	$244.71
2025-08-18	Thene Tony R	Sell	5.9K	$245.62
2025-08-18	INGLIS I MARTIN	Option exercise	3.3K	$39.79
2025-08-15	Malloy Brian J	Grant	3.1K	—
2025-08-15	AKINS MARSHALL D	Tax withheld	2.3K	$243.16
2025-08-15	AKINS MARSHALL D	Grant	2.1K	—
2025-08-15	LAIN TIMOTHY	Grant	2.7K	—
2025-08-15	Malloy Brian J	Tax withheld	3.4K	$243.16
2025-08-15	Thene Tony R	Tax withheld	14K	$243.16
2025-08-15	Thene Tony R	Grant	17K	—
2025-08-15	SOCCI ELIZABETH A	Grant	360	—
2025-08-15	DEE JAMES D	Tax withheld	2.6K	$243.16
2025-08-15	DEE JAMES D	Grant	1.6K	—
2025-08-15	SOCCI ELIZABETH A	Tax withheld	572	$243.16
2025-08-15	LAIN TIMOTHY	Tax withheld	3.7K	$243.16
2025-08-01	Malloy Brian J	Tax withheld	3.4K	$257.78
2025-08-01	Malloy Brian J	Option exercise	6.6K	$36.82
2025-07-15	AKINS MARSHALL D	Grant	11K	—
2025-07-15	Thene Tony R	Grant	101K	—
2025-07-15	Thene Tony R	Tax withheld	44K	$278.55
2025-07-15	SOCCI ELIZABETH A	Grant	4.0K	—
2025-07-15	SOCCI ELIZABETH A	Tax withheld	1.8K	$278.55
2025-07-15	Malloy Brian J	Grant	20K	—
2025-07-15	Malloy Brian J	Tax withheld	9.2K	$278.55
2025-07-15	LAIN TIMOTHY	Grant	23K	—
2025-07-15	LAIN TIMOTHY	Tax withheld	10K	$278.55
2025-07-15	DEE JAMES D	Grant	12K	—
2025-07-15	DEE JAMES D	Tax withheld	6.6K	$278.55
2025-07-15	AKINS MARSHALL D	Tax withheld	4.9K	$278.55
2025-06-12	HART ANASTASIOS JOHN	Option exercise	1.0K	$18.26
2025-06-12	HART ANASTASIOS JOHN	Sell	1.0K	$243.72
2025-05-21	Pritchett Colleen	Option exercise	1.2K	$46.20
2025-05-21	Pritchett Colleen	Sell	1.2K	$233.24
2025-05-19	DEE JAMES D	Sell	5.0K	$235.03
2025-05-13	KAROL STEVEN E	Gift	245	—
2025-05-01	SOCCI ELIZABETH A	Sell	1.4K	$200.60
2025-05-01	SOCCI ELIZABETH A	Sell	1.2K	$201.53
2025-05-01	SOCCI ELIZABETH A	Sell	1.4K	$203.05
2025-05-01	SOCCI ELIZABETH A	Sell	1.0K	$203.90
2025-05-01	SOCCI ELIZABETH A	Sell	6	$204.67
2025-04-29	INGLIS I MARTIN	Option exercise	3.4K	$34.76
2025-04-29	INGLIS I MARTIN	Sell	3.4K	$197.66
2025-03-07	SOCCI ELIZABETH A	Gift	1.5K	—
2025-03-04	ACOFF VIOLA L	Option exercise	4.0K	$45.12
2025-03-04	ACOFF VIOLA L	Sell	4.0K	$201.83
2025-02-05	INGLIS I MARTIN	Option exercise	3.1K	$40.42
2025-02-05	INGLIS I MARTIN	Tax withheld	658	$192.71

All non-derivative Form 4 activity (SEC), newest first.

Notable events (8-K)

Date	Items
2026-04-29	ResultsExhibits	filing ↗
2026-04-29	ResultsExhibits	filing ↗
2026-04-17	Exec/director changeExhibits	filing ↗
2026-02-17	Exec/director changeReg FDExhibits	filing ↗
2026-01-29	ResultsExhibits	filing ↗
2026-01-29	ResultsExhibits	filing ↗
2025-11-20	Material agreementDebt obligationReg FDExhibits	filing ↗
2025-11-10	Reg FDExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-04-29	2026-04-29	0000017843-26-000018 ↗
8-K	2026-04-29	2026-04-29	0000017843-26-000016 ↗
10-Q	2026-04-29	2026-03-31	0000017843-26-000014 ↗
8-K	2026-04-17	2026-04-13	0001193125-26-161577 ↗
8-K	2026-02-17	2026-02-12	0001193125-26-054998 ↗
10-Q	2026-01-29	2025-12-31	0000017843-26-000009 ↗
8-K	2026-01-29	2026-01-29	0000017843-26-000007 ↗
8-K	2026-01-29	2026-01-29	0000017843-26-000005 ↗
8-K	2025-11-20	2025-11-20	0001104659-25-114628 ↗
8-K	2025-11-10	2025-11-10	0001104659-25-108831 ↗
8-K	2025-11-10	2025-11-10	0001104659-25-109178 ↗
8-K	2025-10-23	2025-10-23	0000017843-25-000034 ↗