Precipitation hardening (PH) stainless steels heat treatable to yield strength levels in the range of 200 ksi with exceptionally high fracture toughness are achieved in alloys consisting essentially of 12.25-13.25% chromium, 7.5-8.5% nickel, 2.0-2.5% molybdenum, 0.8-1.35% aluminum, not over 0.05% carbon, not over 0.10% silicon, not over 0.10% manganese, not over 0.010% phosphorus and with especially critical amounts of not over 0.0020% (20 ppm) nitrogen, not over 0.0020% (20 ppm) sulfur, not over 0.0026% (26 ppm) nitrogen plus sulfur; not over 0.04% titanium, and remainder essentially Fe.