Carpenter Technology Corporation (CRS)

Gross profit margin

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
Gross profit (ttm) US$ in thousands 768,500 748,800 699,200 642,500 590,300 515,100 457,400 406,600 337,300 290,300 236,300 179,400 149,800 56,500 29,800 22,700 1,000 46,200 142,900 249,500
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
Gross profit margin 26.71% 25.64% 24.29% 22.74% 21.39% 18.94% 16.79% 15.18% 13.23% 12.32% 10.97% 9.10% 8.16% 3.33% 1.91% 1.50% 0.07% 3.10% 8.29% 12.80%

June 30, 2025 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $768,500K ÷ $2,877,100K
= 26.71%

The gross profit margin of Carpenter Technology Corporation has exhibited significant fluctuations over the analyzed period, reflecting varying underlying operational and market dynamics.

Starting from September 30, 2020, the gross profit margin stood at approximately 12.80%. This value decreased notably through the subsequent quarters, reaching a low of approximately 0.07% by June 30, 2021. During this interval, the margin remained below 2% for several quarters, indicating a period of narrowing profitability or potential pricing pressures, increased costs, or a combination thereof.

From September 30, 2021, the gross profit margin began a gradual recovery trend. It rose modestly to around 1.50% and stabilized around 1.91% by the end of 2021. The upward momentum continued into 2022, with margins increasing to 3.33% in March 2022, then to 8.16% by June 2022, and reaching approximately 9.10% in September 2022. This indicates an improving profitability structure as operational efficiencies and market conditions possibly became more favorable.

Throughout 2022 and into early 2023, the gross profit margin continued its upward trajectory, culminating at approximately 12.32% in March 2023. The recovery persisted into the following periods, with margins increasing steadily: to 13.23% in June 2023, then to 15.18% in September 2023, and further to 16.79% by the end of 2023.

During 2024 and into 2025, the gross profit margins demonstrated sustained and pronounced improvement, with figures ascending to 18.94% in March 2024, 21.39% in June 2024, and reaching 22.74% in September 2024. The upward trend continued into the subsequent quarters, with margins progressing to 24.29% in December 2024, 25.64% in March 2025, and approximately 26.71% by June 2025.

Overall, the gross profit margin trend indicates a substantial recovery and continuous improvement from lows observed in mid-2021, moving towards higher and more stable profitability levels by mid-2025. This pattern suggests beneficial developments in cost management, pricing strategies, or product mix, alongside potential market recovery or demand growth impacting the company's profitability profile.