Carpenter Technology Corporation (CRS)
Current ratio
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,591,200 | 1,281,900 | 1,119,400 | 1,117,400 | 1,266,300 |
| Total current liabilities | US$ in thousands | 466,300 | 459,400 | 375,600 | 306,300 | 452,100 |
| Current ratio | 3.41 | 2.79 | 2.98 | 3.65 | 2.80 |
June 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,591,200K ÷ $466,300K
= 3.41
The current ratio of Carpenter Technology Corporation has fluctuated over the past five years, ranging from a low of 2.79 in 2023 to a high of 3.65 in 2021. Currently, as of June 30, 2024, the company's current ratio stands at 3.41, indicating that it has $3.41 in current assets for every $1 in current liabilities.
A current ratio above 1 generally suggests that the company is able to meet its short-term obligations using its current assets. Therefore, Carpenter Technology Corporation has consistently maintained a current ratio above 1, reflecting a healthy liquidity position.
The upward trend in the current ratio from 2020 to 2021 followed by a slight decline in 2022 and 2023 may indicate fluctuations in the company's liquidity management. However, the current ratio remains at a comfortable level in 2024, providing a favorable indication of the company's ability to cover its short-term liabilities using its current assets.
Peer comparison
Jun 30, 2024