Carpenter Technology Corporation (CRS)
Cash ratio
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 315,500 | 199,100 | 44,500 | 154,200 | 287,400 |
| Short-term investments | US$ in thousands | — | 15,200 | — | — | — |
| Total current liabilities | US$ in thousands | 483,700 | 466,300 | 459,400 | 375,600 | 306,300 |
| Cash ratio | 0.65 | 0.46 | 0.10 | 0.41 | 0.94 |
June 30, 2025 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($315,500K
+ $—K)
÷ $483,700K
= 0.65
The cash ratio of Carpenter Technology Corporation exhibits notable fluctuations over the analyzed period from June 30, 2021, to June 30, 2025. As of June 30, 2021, the cash ratio was 0.94, indicating that the company held nearly enough cash and cash equivalents to cover its current liabilities, reflecting a conservative liquidity position. By June 30, 2022, this ratio significantly declined to 0.41, suggesting a reduction in liquidity or a shift in asset composition, which may point to increased utilization of cash for operational needs or other strategic activities. The downward trend continued into June 30, 2023, reaching a low of 0.10, implying a notably diminished capacity to instantly cover current liabilities with cash and equivalents, potentially signaling heightened short-term liquidity risk or a strategic move towards asset deployment elsewhere.
Subsequently, the cash ratio begins to recover in the following years, registering at 0.46 on June 30, 2024, and further increasing to 0.65 by June 30, 2025. This upward movement indicates an improvement in liquidity, with the company increasing its holdings of cash relative to current liabilities, thus strengthening its short-term liquidity position. Overall, the trend demonstrates initial liquidity contraction followed by a period of recovery, suggesting that Carpenter Technology Corporation's liquidity stance has fluctuated considerably within this timeframe, transitioning from a very conservative position towards a more balanced and potentially more solvent position by mid-2025.
Peer comparison
Jun 30, 2025