Carpenter Technology Corporation (CRS)

Total asset turnover

		Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Revenue	US$ in thousands	2,756,100	2,495,100	1,783,200	1,431,400	2,164,000
Total assets	US$ in thousands	3,291,700	3,053,900	2,932,300	2,971,200	3,227,200
Total asset turnover		0.84	0.82	0.61	0.48	0.67

June 30, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,756,100K ÷ $3,291,700K
= 0.84

The total asset turnover ratio for Carpenter Technology Corporation has shown variability over the past five years. The ratio has fluctuated between 0.48 in 2021 to 0.84 in 2024. This suggests that the company's ability to generate sales from its total assets has improved over the years, with a notable increase in 2024 compared to the prior years.

A total asset turnover ratio of less than 1 indicates that Carpenter Technology Corporation may not be efficiently utilizing its assets to generate revenue. The uptrend observed in recent years could be a positive sign of improved asset utilization efficiency, but further analysis of the company's operations and industry benchmarks would be necessary to fully evaluate its performance. Additionally, it would be beneficial to monitor this ratio over time to assess the company's ongoing ability to generate sales from its total assets effectively.