Carpenter Technology Corporation (CRS)

Current ratio

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Total current assets	US$ in thousands	1,591,200	1,453,000	1,410,200	1,321,900	1,281,900	1,332,600	1,283,400	1,151,500	1,119,400	1,399,700	1,044,300	1,126,900	1,117,400	1,150,400	1,152,600	1,187,900	1,266,300	1,377,100	1,357,700	1,309,600
Total current liabilities	US$ in thousands	466,300	453,400	485,700	448,600	459,400	544,000	510,300	410,900	375,600	633,800	294,300	332,400	306,300	269,300	265,800	264,500	452,100	516,000	499,400	466,600
Current ratio		3.41	3.20	2.90	2.95	2.79	2.45	2.51	2.80	2.98	2.21	3.55	3.39	3.65	4.27	4.34	4.49	2.80	2.67	2.72	2.81

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 shown fluctuation over the past several quarters. The current ratio measures the company's ability to meet its short-term obligations with its current assets.

In the most recent period ending on June 30, 2024, Carpenter Technology Corporation's current ratio was 3.41, indicating that the company had $3.41 in current assets for every $1 in current liabilities. This suggests a strong liquidity position, as the company has a significant cushion to cover its short-term obligations.

Looking at the trend over the past few quarters, the current ratio has generally been on an upward trajectory, reaching a peak of 4.49 at the end of December 2020 before declining slightly. This upward trend indicates that Carpenter Technology Corporation has been improving its ability to cover its short-term liabilities with current assets.

However, it is essential to note that the current ratio fluctuated throughout the periods, which may indicate changes in the company's short-term liquidity position. For example, there was a significant decrease in the current ratio from the end of March 2022 to the end of March 2023, where it dropped from 3.55 to 2.45, before recovering in subsequent quarters.

Overall, Carpenter Technology Corporation's current ratio has generally been healthy and has shown a positive trend in recent quarters, indicating an improved ability to meet its short-term obligations with its current assets.