Carpenter Technology Corporation (CRS)
Operating return on assets (Operating ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 521,700 | 499,100 | 455,500 | 404,600 | 360,000 | 294,100 | 239,200 | 193,800 | 130,700 | 59,700 | 26,200 | -27,900 | -52,900 | -115,500 | -161,300 | -218,800 | -248,500 | -326,000 | -227,300 | -83,300 |
| Total assets | US$ in thousands | 3,486,800 | 3,361,800 | 3,326,700 | 3,255,000 | 3,291,700 | 3,176,200 | 3,159,200 | 3,076,800 | 3,053,900 | 3,094,300 | 3,056,500 | 2,939,900 | 2,932,300 | 3,230,200 | 2,879,900 | 2,959,900 | 2,971,200 | 3,011,000 | 3,043,900 | 3,128,700 |
| Operating ROA | 14.96% | 14.85% | 13.69% | 12.43% | 10.94% | 9.26% | 7.57% | 6.30% | 4.28% | 1.93% | 0.86% | -0.95% | -1.80% | -3.58% | -5.60% | -7.39% | -8.36% | -10.83% | -7.47% | -2.66% |
June 30, 2025 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $521,700K ÷ $3,486,800K
= 14.96%
The operating return on assets (ROA) for Carpenter Technology Corporation exhibits a notable trend of recovery and growth over the reported periods. Starting from a negative value of -2.66% as of September 30, 2020, the operating ROA declined further, reaching its lowest point at -10.83% on March 31, 2021. This period likely reflects operational challenges or broader industry pressures impacting profitability relative to asset utilization.
Subsequently, the metric demonstrates a consistent upward trajectory, signifying a gradual improvement in operational efficiency and profitability. Between December 31, 2021, and June 30, 2022, the operating ROA increased from -5.60% to -1.80%, approaching break-even levels. By September 30, 2022, the company achieved a near-zero operating ROA of -0.95%, indicating a significant turnaround from prior negative performance.
From this inflection point, the operating ROA transitioned into positive territory, reaching 0.86% at the end of 2022. The upward momentum continued into 2023, with values climbing to 1.93% in March and further to 4.28% by June. The trend persisted strongly into the third quarter, with the metric rising to 6.30% on September 30, 2023.
This positive progression persisted into late 2023 and early 2024, with operating ROA values increasing to 7.57% at the end of 2023, and then continuing to improve through March and June 2024, reaching 9.26% and 10.94%, respectively. The growth trajectory accelerated further, with the metric reaching 12.43% as of September 30, 2024, and continuing upward through December 2024 at 13.69%. The most recent data points show the operating ROA at 14.85% for March 2025 and approaching nearly 15% at 14.96% for June 2025.
Overall, the data reflect a substantial and sustained recovery from negative earnings margins to positive and increasingly robust operational returns relative to assets. This trend indicates effective operational improvements, strategic adjustments, or favorable market conditions that have progressively enhanced the efficiency and profitability of Carpenter Technology Corporation’s asset base over the observed period.
Peer comparison
Jun 30, 2025