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Carpenter Technology vs Steel Dynamics: revenue, profit, margins and growth compared

Carpenter Technology brought in $3.1B of revenue in fiscal 2026, Steel Dynamics $18.2B in fiscal 2025. Revenue changed by +8.6% at Carpenter Technology and +3.6% at Steel Dynamics on the year before, so Carpenter Technology grew faster. Carpenter Technology kept 17.0% of its revenue as net profit, Steel Dynamics 6.5%. Free cash flow was $362.3M at Carpenter Technology and $501.5M at Steel Dynamics.

Side by side, latest fiscal year

CRSSTLD
Fiscal year endedFY2026 (June 30, 2026)FY2025 (December 31, 2025)
Revenue$3.1B$18.2B
Revenue growth+8.6%+3.6%
Net income$529.8M$1.2B
Net margin17.0%6.5%
Free cash flow$362.3M$501.5M
Free cash flow margin11.6%2.8%
Earnings per share (diluted)$10.52$7.99
Cash$393.3M$769.9M
Debt$690.7M$4.2B
Price to earnings37.729.2
Market value$19.7B$33.5B
Dividend yield0.20%0.86%
Rank by revenue in sector#179 of 451 · Industrials#33 of 451 · Industrials

Over the years

Revenue
CRS FY2019: $2.4BCRS FY2020: $2.2BCRS FY2021: $1.5BCRS FY2022: $1.8BCRS FY2023: $2.6BCRS FY2024: $2.8BCRS FY2025: $2.9BCRS FY2026: $3.1BSTLD FY2018: $11.8BSTLD FY2019: $10.5BSTLD FY2020: $9.6BSTLD FY2021: $18.4BSTLD FY2022: $22.3BSTLD FY2023: $18.8BSTLD FY2024: $17.5BSTLD FY2025: $18.2BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CRS $3.1BSTLD $18.2B
Net income
CRS FY2019: $167MCRS FY2020: $1.5MCRS FY2021: -$229.6MCRS FY2022: -$49.1MCRS FY2023: $56.4MCRS FY2024: $186.5MCRS FY2025: $376MCRS FY2026: $529.8MSTLD FY2018: $1.3BSTLD FY2019: $671.1MSTLD FY2020: $550.8MSTLD FY2021: $3.2BSTLD FY2022: $3.9BSTLD FY2023: $2.5BSTLD FY2024: $1.5BSTLD FY2025: $1.2BFY18FY19FY20FY21FY22FY23FY24FY25FY26
CRS $529.8MSTLD $1.2B
Net margin
CRS FY2019: 7.0%CRS FY2020: 0.1%CRS FY2021: -15.6%CRS FY2022: -2.7%CRS FY2023: 2.2%CRS FY2024: 6.8%CRS FY2025: 13.1%CRS FY2026: 17.0%STLD FY2018: 10.6%STLD FY2019: 6.4%STLD FY2020: 5.7%STLD FY2021: 17.5%STLD FY2022: 17.4%STLD FY2023: 13.0%STLD FY2024: 8.8%STLD FY2025: 6.5%FY18FY19FY20FY21FY22FY23FY24FY25FY26
CRS 17.0%STLD 6.5%
Revenue growth
CRS FY2020: -8.4%CRS FY2021: -32.3%CRS FY2022: +24.4%CRS FY2023: +38.9%CRS FY2024: +8.2%CRS FY2025: +4.3%CRS FY2026: +8.6%STLD FY2019: -11.5%STLD FY2020: -8.3%STLD FY2021: +91.7%STLD FY2022: +20.9%STLD FY2023: -15.6%STLD FY2024: -6.7%STLD FY2025: +3.6%FY19FY20FY21FY22FY23FY24FY25FY26
CRS +8.6%STLD +3.6%
Free cash flow
CRS FY2019: $52.1MCRS FY2020: $60.4MCRS FY2021: $149.5MCRS FY2022: -$85.3MCRS FY2023: -$67.6MCRS FY2024: $178.3MCRS FY2025: $286.1MCRS FY2026: $362.3MSTLD FY2018: $1.2BSTLD FY2019: $944.3MSTLD FY2020: -$211MSTLD FY2021: $1.2BSTLD FY2022: $3.6BSTLD FY2023: $1.9BSTLD FY2024: -$23.5MSTLD FY2025: $501.5MFY18FY19FY20FY21FY22FY23FY24FY25FY26
CRS $362.3MSTLD $501.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Carpenter Technology and Steel Dynamics

Which is bigger by revenue, Carpenter Technology or Steel Dynamics?

Steel Dynamics is bigger by revenue: $18.2B in fiscal 2025, against $3.1B for Carpenter Technology in fiscal 2026.

Which keeps more of its revenue as profit, Carpenter Technology or Steel Dynamics?

Carpenter Technology had a net margin of 17.0% in fiscal 2026; Steel Dynamics had 6.5% in fiscal 2025.

Which grew revenue faster, Carpenter Technology or Steel Dynamics?

In their latest fiscal years revenue changed by +8.6% at Carpenter Technology and +3.6% at Steel Dynamics.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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