Carpenter Technology Corporation (CRS)

Debt-to-assets 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
Long-term debt	US$ in thousands	694,200	693,900	693,600	693,300	693,000	692,700	692,400	692,100	691,800	690,900	695,000	694,800	694,500	694,300	694,000	693,800	551,800	552,400	550,600	550,900
Total assets	US$ in thousands	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	3,227,200	3,429,400	3,403,600	3,341,500
Debt-to-assets ratio		0.21	0.22	0.22	0.23	0.23	0.22	0.23	0.24	0.24	0.21	0.24	0.23	0.23	0.23	0.23	0.22	0.17	0.16	0.16	0.16

June 30, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $694,200K ÷ $3,291,700K
= 0.21

The debt-to-assets ratio of Carpenter Technology Corporation has exhibited some fluctuation over the past few quarters, ranging from 0.16 to 0.24. Despite these fluctuations, the ratio has generally been within the range of 0.16 to 0.24 over the last few years, indicating that the company has maintained a relatively stable level of debt relative to its total assets during this period.

It is noteworthy that the ratio has slightly increased in the most recent quarters, reaching a high of 0.24. This increase may suggest that Carpenter Technology has taken on more debt compared to its assets in these periods, which could potentially increase the company's financial risk. It would be essential for the company to carefully manage its debt levels to ensure sustainable financial health and stability in the long run.

Overall, the debt-to-assets ratio trend indicates that Carpenter Technology Corporation has been able to effectively manage its debt levels within a reasonable range compared to its total assets, but it may be prudent for the company to closely monitor and control its debt accumulation going forward to maintain a healthy financial position.