Carpenter Technology Corporation (CRS)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Total stockholders’ equity | US$ in thousands | 1,887,000 | 1,781,700 | 1,716,900 | 1,660,300 | 1,628,800 | 1,502,600 | 1,473,800 | 1,429,300 | 1,396,100 | 1,327,200 | 1,321,100 | 1,306,800 | 1,330,500 | 1,347,100 | 1,333,100 | 1,367,600 | 1,392,300 | 1,381,200 | 1,332,900 | 1,407,500 |
| Financial leverage ratio | 1.85 | 1.89 | 1.94 | 1.96 | 2.02 | 2.11 | 2.14 | 2.15 | 2.19 | 2.33 | 2.31 | 2.25 | 2.20 | 2.40 | 2.16 | 2.16 | 2.13 | 2.18 | 2.28 | 2.22 |
June 30, 2025 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $3,486,800K ÷ $1,887,000K
= 1.85
The financial leverage ratio of Carpenter Technology Corporation exhibits notable fluctuations over the analyzed period from September 2020 through June 2025. Initially, the ratio stood at 2.22 as of September 30, 2020, indicating that the company's debt relative to equity was somewhat high, and it increased slightly to 2.28 by December 2020, reflecting a modest uptick in leverage.
Throughout 2021, the leverage ratio demonstrated some variability, with a slight decline to 2.18 by March 2021 and further to 2.13 by June 2021. It then stabilized around 2.16 from September 2021 through December 2021. A noticeable increase occurred in March 2022, with the ratio rising to 2.40, implying an increased reliance on debt relative to equity during that period.
Following this peak, the leverage ratio showed a decreasing trend, falling back to 2.20 in June 2022, and gradually edging upward again to around 2.25 by September 2022 and 2.31 by December 2022. The ratio remained relatively steady around 2.33 in March 2023, after which a gradual and consistent decline was observed, culminating at 2.02 as of June 2024.
From mid-2024 onwards, the leverage ratio continued its downward trajectory, reaching 1.96 by September 2024, and further decreasing to 1.85 by June 2025. This trend suggests a deliberate reduction in financial leverage, implying that the company has been decreasing its indebtedness relative to equity over this period.
Overall, the historical data presents a pattern characterized by periods of increased leverage, particularly noticeable in early 2022, followed by a sustained decrease over subsequent years. The downward trend indicates a strategic shift toward reducing reliance on borrowed funds, which may be aimed at strengthening the company's financial stability and reducing risk exposure.
Peer comparison
Jun 30, 2025