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Side-by-side financial comparison of COMMERCIAL METALS Co (CMC) and CARPENTER TECHNOLOGY CORP (CRS), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
COMMERCIAL METALS Co is the larger business by last-quarter revenue ($2.1B vs $728.0M, roughly 2.9× CARPENTER TECHNOLOGY CORP). CARPENTER TECHNOLOGY CORP runs the higher net margin — 8.4% vs 14.5%, a 6.1% gap on every dollar of revenue. On growth, COMMERCIAL METALS Co posted the faster year-over-year revenue change (11.0% vs 7.5%). CARPENTER TECHNOLOGY CORP produced more free cash flow last quarter ($85.9M vs $78.8M). Over the past eight quarters, COMMERCIAL METALS Co's revenue compounded faster (7.1% CAGR vs 3.1%).
Commercial Metals Company (CMC) is a company that produces rebar and related construction materials headquartered in Irving, Texas. Along with Nucor, it is one of two primary suppliers of steel used to reinforce concrete in buildings, bridges, roads, and infrastructure in the U.S. The company also owns Tensar, a producer of foundation systems used for the construction of roadways, public infrastructure, and industrial facilities.
Carpenter Technology Corporation develops, manufactures, and distributes stainless steels and corrosion-resistant nickel, copper and titanium alloys as well as powdered alloys for 3D additive manufacturing. In fiscal year 2018, the company's revenues were derived from the aerospace and defense industry (55%), the industrial and consumer industry (17%), the medical industry (8%), the transportation industry (7%), the energy industry (7%), and the distribution industry (6%). The company's produ...
CMC vs CRS — Head-to-Head
Income Statement — Q1 2026 vs Q2 2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $728.0M |
| Net Profit | $177.3M | $105.3M |
| Gross Margin | 19.2% | 30.0% |
| Operating Margin | 8.6% | 21.3% |
| Net Margin | 8.4% | 14.5% |
| Revenue YoY | 11.0% | 7.5% |
| Net Profit YoY | 200.9% | 25.2% |
| EPS (diluted) | $1.58 | $2.09 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $2.1B | $728.0M | ||
| Q3 25 | $2.1B | $733.7M | ||
| Q2 25 | $2.0B | $755.6M | ||
| Q1 25 | $1.8B | $727.0M | ||
| Q4 24 | $1.9B | $676.9M | ||
| Q3 24 | $2.0B | $717.6M | ||
| Q2 24 | $2.1B | $798.7M | ||
| Q1 24 | $1.8B | $684.9M |
| Q4 25 | $177.3M | $105.3M | ||
| Q3 25 | $151.8M | $122.5M | ||
| Q2 25 | $83.1M | $111.7M | ||
| Q1 25 | $25.5M | $95.4M | ||
| Q4 24 | $-175.7M | $84.1M | ||
| Q3 24 | $103.9M | $84.8M | ||
| Q2 24 | $119.4M | $93.6M | ||
| Q1 24 | $85.8M | $6.3M |
| Q4 25 | 19.2% | 30.0% | ||
| Q3 25 | 18.6% | 29.5% | ||
| Q2 25 | 14.8% | 28.3% | ||
| Q1 25 | 12.5% | 27.6% | ||
| Q4 24 | 16.1% | 26.2% | ||
| Q3 24 | 16.2% | 24.6% | ||
| Q2 24 | 16.4% | 23.9% | ||
| Q1 24 | 16.0% | 21.5% |
| Q4 25 | 8.6% | 21.3% | ||
| Q3 25 | 9.1% | 20.9% | ||
| Q2 25 | 5.4% | 20.1% | ||
| Q1 25 | 2.1% | 19.0% | ||
| Q4 24 | -12.1% | 17.6% | ||
| Q3 24 | 6.7% | 15.8% | ||
| Q2 24 | 7.7% | 13.6% | ||
| Q1 24 | 6.3% | 11.1% |
| Q4 25 | 8.4% | 14.5% | ||
| Q3 25 | 7.2% | 16.7% | ||
| Q2 25 | 4.1% | 14.8% | ||
| Q1 25 | 1.5% | 13.1% | ||
| Q4 24 | -9.2% | 12.4% | ||
| Q3 24 | 5.2% | 11.8% | ||
| Q2 24 | 5.7% | 11.7% | ||
| Q1 24 | 4.6% | 0.9% |
| Q4 25 | $1.58 | $2.09 | ||
| Q3 25 | $1.33 | $2.43 | ||
| Q2 25 | $0.73 | $2.21 | ||
| Q1 25 | $0.22 | $1.88 | ||
| Q4 24 | $-1.54 | $1.66 | ||
| Q3 24 | $0.90 | $1.67 | ||
| Q2 24 | $1.02 | $1.85 | ||
| Q1 24 | $0.73 | $0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | $231.9M |
| Total DebtLower is stronger | $3.3B | — |
| Stockholders' EquityBook value | $4.3B | $2.0B |
| Total Assets | $9.2B | $3.5B |
| Debt / EquityLower = less leverage | 0.77× | — |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $1.0B | $231.9M | ||
| Q3 25 | $1.0B | $208.0M | ||
| Q2 25 | $893.0M | $315.5M | ||
| Q1 25 | $758.4M | $151.5M | ||
| Q4 24 | $856.1M | $162.1M | ||
| Q3 24 | $857.9M | $150.2M | ||
| Q2 24 | $698.3M | $199.1M | ||
| Q1 24 | $638.3M | $53.5M |
| Q4 25 | $3.3B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $4.3B | $2.0B | ||
| Q3 25 | $4.2B | $1.9B | ||
| Q2 25 | $4.1B | $1.9B | ||
| Q1 25 | $4.0B | $1.8B | ||
| Q4 24 | $4.0B | $1.7B | ||
| Q3 24 | $4.3B | $1.7B | ||
| Q2 24 | $4.3B | $1.6B | ||
| Q1 24 | $4.2B | $1.5B |
| Q4 25 | $9.2B | $3.5B | ||
| Q3 25 | $7.2B | $3.4B | ||
| Q2 25 | $7.0B | $3.5B | ||
| Q1 25 | $6.7B | $3.4B | ||
| Q4 24 | $6.8B | $3.3B | ||
| Q3 24 | $6.8B | $3.3B | ||
| Q2 24 | $6.7B | $3.3B | ||
| Q1 24 | $6.7B | $3.2B |
| Q4 25 | 0.77× | — | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.32× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | 0.27× | — | ||
| Q2 24 | 0.27× | — | ||
| Q1 24 | 0.27× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $204.2M | $132.2M |
| Free Cash FlowOCF − Capex | $78.8M | $85.9M |
| FCF MarginFCF / Revenue | 3.7% | 11.8% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 5.9% | 6.4% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.15× | 1.26× |
| TTM Free Cash FlowTrailing 4 quarters | $296.2M | $316.7M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $204.2M | $132.2M | ||
| Q3 25 | $315.2M | $39.2M | ||
| Q2 25 | $154.4M | $258.1M | ||
| Q1 25 | $32.4M | $74.2M | ||
| Q4 24 | $213.0M | $67.9M | ||
| Q3 24 | $351.8M | $40.2M | ||
| Q2 24 | $197.9M | $169.5M | ||
| Q1 24 | $89.0M | $83.5M |
| Q4 25 | $78.8M | $85.9M | ||
| Q3 25 | $206.3M | $-3.4M | ||
| Q2 25 | $65.0M | $200.2M | ||
| Q1 25 | $-53.8M | $34.0M | ||
| Q4 24 | $94.8M | $38.6M | ||
| Q3 24 | $270.3M | $13.3M | ||
| Q2 24 | $115.8M | $141.8M | ||
| Q1 24 | $-4.8M | $61.9M |
| Q4 25 | 3.7% | 11.8% | ||
| Q3 25 | 9.8% | -0.5% | ||
| Q2 25 | 3.2% | 26.5% | ||
| Q1 25 | -3.1% | 4.7% | ||
| Q4 24 | 5.0% | 5.7% | ||
| Q3 24 | 13.5% | 1.9% | ||
| Q2 24 | 5.6% | 17.8% | ||
| Q1 24 | -0.3% | 9.0% |
| Q4 25 | 5.9% | 6.4% | ||
| Q3 25 | 5.2% | 5.8% | ||
| Q2 25 | 4.4% | 7.7% | ||
| Q1 25 | 4.9% | 5.5% | ||
| Q4 24 | 6.2% | 4.3% | ||
| Q3 24 | 4.1% | 3.7% | ||
| Q2 24 | 3.9% | 3.5% | ||
| Q1 24 | 5.1% | 3.2% |
| Q4 25 | 1.15× | 1.26× | ||
| Q3 25 | 2.08× | 0.32× | ||
| Q2 25 | 1.86× | 2.31× | ||
| Q1 25 | 1.27× | 0.78× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | 3.39× | 0.47× | ||
| Q2 24 | 1.66× | 1.81× | ||
| Q1 24 | 1.04× | 13.25× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
CMC
| Steel Products | $670.8M | 32% |
| Downstream Products | $505.3M | 24% |
| Construction Solutions Group | $314.4M | 15% |
| Europe Steel Group | $200.0M | 9% |
| Precast Products | $141.6M | 7% |
| Construction Products | $78.4M | 4% |
| Foley Products Company LLC | $75.1M | 4% |
| Concrete Pipe And Precast LLC | $69.4M | 3% |
| Ground Stabilization Products | $49.9M | 2% |
CRS
| Aerospace And Defense Markets | $448.8M | 62% |
| Industrial And Consumer Markets | $88.4M | 12% |
| Performance Engineered Products Segment | $83.2M | 11% |
| Medical Market | $54.7M | 8% |
| Energy Market | $48.5M | 7% |
| Transportation Market | $21.2M | 3% |
| Distribution Market | $17.2M | 2% |
