Carpenter Technology Corporation (CRS)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 315,500 | 151,500 | 162,100 | 150,200 | 199,100 | 53,500 | 15,700 | 18,100 | 44,500 | 22,300 | 20,000 | 52,600 | 154,200 | 393,900 | 96,900 | 213,200 | 287,400 | 244,200 | 271,400 | 218,900 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 575,500 | 602,800 | 565,400 | 569,200 | 562,600 | 521,200 | 508,400 | 510,800 | 531,300 | 515,500 | 441,600 | 390,200 | 382,300 | 336,200 | 307,000 | 311,600 | 308,700 | 279,200 | 230,300 | 250,500 |
| Total current liabilities | US$ in thousands | 483,700 | 444,200 | 432,100 | 406,200 | 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 |
| Quick ratio | 1.84 | 1.70 | 1.68 | 1.77 | 1.63 | 1.27 | 1.08 | 1.18 | 1.25 | 0.99 | 0.90 | 1.08 | 1.43 | 1.15 | 1.37 | 1.58 | 1.95 | 1.94 | 1.89 | 1.77 |
June 30, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($315,500K
+ $—K
+ $575,500K)
÷ $483,700K
= 1.84
The quick ratio of Carpenter Technology Corporation demonstrates notable fluctuations over the analyzed period, reflecting the company's liquidity position at various points in time. Starting from a value of 1.77 as of September 30, 2020, the ratio increased initially, reaching as high as 1.95 by June 30, 2021. This suggests a strong liquidity buffer, indicating sufficient liquid assets to cover current liabilities without relying on inventory.
Following this peak, a downward trend commenced, with the quick ratio declining significantly, reaching a low of 0.90 as of December 31, 2022. This decline indicates a deterioration in the company's short-term liquidity position, implying that liquid assets relative to current liabilities have decreased, potentially raising concerns regarding the company’s ability to meet its immediate obligations solely with liquid assets.
Post-December 2022, there is evidence of recovery, with the ratio ascending again, reaching 1.25 as of June 30, 2023, and further to 1.77 by September 30, 2024. This upward trend signifies an improvement in liquidity, possibly due to increased liquid assets or reduced current liabilities. The ratio remains above 1.0 in most periods, suggesting that the company generally maintains a prudent level of liquidity, although the fluctuation indicates periods of tighter liquidity management.
Overall, the quick ratio trend reflects a period of strong liquidity early in the observed timeframe, followed by a decline to less comfortable levels, and subsequently a recovery. The data underscores the importance of ongoing liquidity management, as the ratio's movements imply varying degrees of short-term financial flexibility across these periods.
Peer comparison
Jun 30, 2025