Carpenter Technology Corporation (CRS)

Receivables turnover

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020
Revenue (ttm) US$ in thousands 2,877,100 2,920,200 2,878,100 2,825,400 2,759,700 2,719,100 2,724,300 2,679,200 2,550,200 2,355,900 2,154,800 1,971,700 1,836,400 1,694,200 1,557,100 1,509,900 1,475,600 1,491,300 1,724,800 1,949,000
Receivables US$ in thousands 575,500 602,800 565,400 569,200 562,600 521,200 508,400 510,800 531,300 515,500 441,600 390,200 382,300 336,200 307,000 311,600 308,700 279,200 230,300 250,500
Receivables turnover 5.00 4.84 5.09 4.96 4.91 5.22 5.36 5.25 4.80 4.57 4.88 5.05 4.80 5.04 5.07 4.85 4.78 5.34 7.49 7.78

June 30, 2025 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,877,100K ÷ $575,500K
= 5.00

The receivables turnover ratio for Carpenter Technology Corporation has exhibited notable fluctuations over the specified period. At the end of September 2020, the ratio was 7.78, indicating a relatively efficient collection cycle during that time. Subsequently, there was a decline through the following periods, with the ratio decreasing to 7.49 by December 2020 and further declining to 5.34 by March 2021. The downward trend continued into June 2021, when it reached 4.78, reflecting a decrease in receivables collection efficiency.

From September 2021 onward, the ratio stabilized somewhat, fluctuating marginally between approximately 4.85 and 5.07, with a slight increase to 5.07 at the end of December 2021. In 2022, the ratio remained relatively steady, ranging from 4.80 to 5.05, with minor fluctuations. Notably, the ratio was 4.57 at the end of March 2023, representing a slight decline, but it then increased again to 4.80 by June 2023.

Most recently, in September 2023, the receivables turnover improved to 5.25, suggesting a short-term enhancement in collection efficiency. This upward trend persisted into the end of 2023, with the ratio reaching 5.36 in December 2023. During the first half of 2024, the ratio maintained stability around the low 5s, with values of 5.22 in March and 4.91 in June, before slightly increasing to 4.96 in September 2024.

In the most recent period (December 2024 to June 2025), the ratio ranged between approximately 4.84 and 5.00, ending at 5.00 in June 2025. Overall, the data indicates that the company's receivables turnover has experienced a decline from the high levels observed in 2020 but has stabilized somewhat around the mid-4 to mid-5 range in subsequent periods. This pattern suggests a moderate and relatively consistent collection cycle, with some periods of improvement and fluctuation that may reflect changes in credit policies, customer mix, or collection efforts over time.