ATI Inc (ATI) is overvalued and Carpenter Technology Corp (CRS) is overvalued.
Both trade above our estimate of their intrinsic value. CRS is the closer of the two: -112%, against -228% for ATI.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.7% (average of 3 methods) values the shares at $56.85; the price of $186.56 is 228% above that value, and 74% of that value comes from beyond year five.
Leak Score 69/100 on 10 of 12 signals
Discounting its cash flows at 10.7% (average of 3 methods) values the shares at $188.36; the price of $400.02 is 112% above that value, and 71% of that value comes from beyond year five.
Leak Score 65/100 on 10 of 12 signals
| Metric | ATI | CRS |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $186.56 | $400.02 |
| Intrinsic value | $56.85 | $188.36 |
| Margin of safety | -228% | -112% |
| Leak Score | 69/100 (10/12) | 65/100 (10/12) |
| Market cap | $25.4B | $19.8B |
| Revenue growth, 5 years | 9.0% | 16.2% |
| Operating margin | 16.0% | 22.5% |
| Net margin | 10.1% | 16.9% |
| Return on equity | 26.3% | 25.7% |
| Debt to equity | 1.17 | 0.33 |
| P/E | 54.5x | 38.0x |
| Forward P/E | 29.8x | 25.1x |
| P/B | 13.5x | 8.9x |
| Dividend yield | — | 0.2% |