Carpenter Technology Corporation (CRS)

Total asset 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
Total assets	US$ in thousands	3,486,800	3,361,800	3,326,700	3,255,000	3,291,700	3,176,200	3,159,200	3,076,800	3,053,900	3,094,300	3,056,500	2,939,900	2,932,300	3,230,200	2,879,900	2,959,900	2,971,200	3,011,000	3,043,900	3,128,700
Total asset turnover		0.83	0.87	0.87	0.87	0.84	0.86	0.86	0.87	0.84	0.76	0.70	0.67	0.63	0.52	0.54	0.51	0.50	0.50	0.57	0.62

June 30, 2025 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,877,100K ÷ $3,486,800K
= 0.83

The total asset turnover ratio for Carpenter Technology Corporation demonstrates a trajectory of gradual improvement over the analyzed period, reflecting changes from September 30, 2020, through June 30, 2025. Starting at 0.62 in September 2020, the ratio experienced a steady decline until reaching its lowest point of approximately 0.50 in March and June 2021, indicative of a period where the company utilized its assets less efficiently relative to sales.

Subsequently, from late 2021 onward, a consistent upward trend emerges. Notably, the ratio increased to approximately 0.54 by December 2021, and continued its ascent through 2022 and 2023, reaching 0.87 by September 2023. This significant improvement suggests enhanced asset utilization and higher sales generated per dollar of assets during this period. The ratio stabilized around 0.86 to 0.87 from late 2023 through mid-2025, indicating a steadiness in asset efficiency at higher levels compared to the earlier years.

Overall, the progression of the total asset turnover ratio indicates that Carpenter Technology Corporation has experienced a period of operational efficiency enhancement, particularly from the end of 2021 onward. This trend suggests improved sales performance relative to asset base, possibly driven by better asset management, increased sales volume, or strategic operational improvements. The stabilization at higher ratios towards the latter part of the observed period points to a maintained level of asset utilization efficiency.