(CARR) Carrier Global - Ratings and Ratios
Air Conditioners, Heat Pumps, Refrigeration, HVAC Controls, Transport Monitoring
EPS (Earnings per Share)
Revenue
| Risk via 10d forecast | |
|---|---|
| Volatility | 31.0% |
| Value at Risk 5%th | 48.2% |
| Relative Tail Risk | -5.61% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.95 |
| Alpha | -42.23 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.504 |
| Beta | 1.078 |
| Beta Downside | 1.012 |
| Drawdowns 3y | |
|---|---|
| Max DD | 38.10% |
| Mean DD | 10.28% |
| Median DD | 7.95% |
Description: CARR Carrier Global September 29, 2025
Carrier Global Corporation (NYSE:CARR) designs, manufactures, and services intelligent climate-control and energy-efficiency solutions across four major regions-North America, Europe, Asia-Pacific, and other international markets. The firm operates under two primary business segments: Heating, Ventilating and Air Conditioning (HVAC) and Refrigeration, and it markets its offerings through a portfolio of brands that includes Carrier, Viessmann, Toshiba, Automated Logic, Bryant, and Carrier Transicold, among others.
The HVAC segment supplies a full suite of products-air conditioners, furnaces, heat pumps, building-automation controls, aftermarket components, and related services such as installation, maintenance, rentals, and system upgrades-to both residential and commercial customers. The Refrigeration segment focuses on transport-cold-chain solutions, providing refrigerated trucks, trailers, shipping containers, and rail applications, complemented by real-time monitoring and digital analytics tools.
In FY 2023 Carrier reported revenue of approximately **$22.5 billion**, with an adjusted earnings-per-share (EPS) of **$6.10** and an operating margin near **12 %**. Free cash flow topped **$2.2 billion**, supporting ongoing dividend payments and share-repurchase programs. A key driver of HVAC growth is the accelerating adoption of high-efficiency heat-pump systems, spurred by stricter U.S. and EU building-code regulations and increasing consumer demand for lower-carbon heating solutions.
The Refrigeration business benefited from a **~8 % year-over-year increase** in transport-cold-chain volume, reflecting the continued expansion of e-commerce grocery and pharmaceutical logistics. Additionally, the sector is responding to global phase-down mandates on high-global-warming-potential (GWP) refrigerants, prompting Carrier to invest in low-GWP technologies that command premium pricing and improve margin resilience.
For a deeper quantitative comparison of Carrier’s valuation metrics against peers, you might explore the analysis tools on ValueRay.
CARR Stock Overview
| Market Cap in USD | 43,615m |
| Sub-Industry | Building Products |
| IPO / Inception | 2020-04-03 |
| Return 12m vs S&P 500 | -37.8% |
| Analyst Rating | 4.04 of 5 |
CARR Dividends
| Metric | Value |
|---|---|
| Dividend Yield | 1.72% |
| Yield on Cost 5y | 2.48% |
| Yield CAGR 5y | 29.81% |
| Payout Consistency | 100.0% |
| Payout Ratio | 32.4% |
CARR Growth Ratios
| Metric | Value |
|---|---|
| CAGR 3y | 8.15% |
| CAGR/Max DD Calmar Ratio | 0.21 |
| CAGR/Mean DD Pain Ratio | 0.79 |
| Current Volume | 12733k |
| Average Volume | 6035.1k |
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income (3.98b TTM) > 0 and > 6% of Revenue (6% = 1.32b TTM) |
| FCFTA 0.03 (>2.0%) and ΔFCFTA 0.58pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 4.95% (prev 3.64%; Δ 1.31pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.04 (>3.0%) and CFO 1.60b <= Net Income 3.98b (YES >=105%, WARN >=100%) |
| Net Debt (10.92b) to EBITDA (3.42b) ratio: 3.19 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.14 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (858.6m) change vs 12m ago -6.16% (target <= -2.0% for YES) |
| Gross Margin 27.31% (prev 27.21%; Δ 0.09pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 56.36% (prev 55.82%; Δ 0.54pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 4.89 (EBITDA TTM 3.42b / Interest Expense TTM 442.0m) >= 6 (WARN >= 3) |
Altman Z'' 2.18
| (A) 0.03 = (Total Current Assets 8.84b - Total Current Liabilities 7.75b) / Total Assets 38.08b |
| (B) 0.33 = Retained Earnings (Balance) 12.53b / Total Assets 38.08b |
| (C) 0.06 = EBIT TTM 2.16b / Avg Total Assets 39.14b |
| (D) 0.52 = Book Value of Equity 12.17b / Total Liabilities 23.24b |
| Total Rating: 2.18 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 58.55
| 1. Piotroski 4.50pt |
| 2. FCF Yield 2.07% |
| 3. FCF Margin 5.11% |
| 4. Debt/Equity 0.85 |
| 5. Debt/Ebitda 3.19 |
| 6. ROIC - WACC (= 0.34)% |
| 7. RoE 27.87% |
| 8. Rev. Trend 35.22% |
| 9. EPS Trend 24.15% |
What is the price of CARR shares?
Over the past week, the price has changed by -3.12%, over one month by -12.05%, over three months by -19.07% and over the past year by -30.12%.
Is CARR a buy, sell or hold?
- Strong Buy: 11
- Buy: 5
- Hold: 8
- Sell: 1
- Strong Sell: 0
What are the forecasts/targets for the CARR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 72.7 | 38.7% |
| Analysts Target Price | 72.7 | 38.7% |
| ValueRay Target Price | 50.4 | -3.8% |
CARR Fundamental Data Overview November 21, 2025
P/E Trailing = 32.0313
P/E Forward = 16.9492
P/S = 1.9773
P/B = 3.019
P/EG = 14.1224
Beta = 1.292
Revenue TTM = 22.06b USD
EBIT TTM = 2.16b USD
EBITDA TTM = 3.42b USD
Long Term Debt = 11.34b USD (from longTermDebt, last quarter)
Short Term Debt = 580.0m USD (from shortTermDebt, last quarter)
Debt = 12.34b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 10.92b USD (from netDebt column, last quarter)
Enterprise Value = 54.53b USD (43.61b + Debt 12.34b - CCE 1.42b)
Interest Coverage Ratio = 4.89 (Ebit TTM 2.16b / Interest Expense TTM 442.0m)
FCF Yield = 2.07% (FCF TTM 1.13b / Enterprise Value 54.53b)
FCF Margin = 5.11% (FCF TTM 1.13b / Revenue TTM 22.06b)
Net Margin = 18.05% (Net Income TTM 3.98b / Revenue TTM 22.06b)
Gross Margin = 27.31% ((Revenue TTM 22.06b - Cost of Revenue TTM 16.04b) / Revenue TTM)
Gross Margin QoQ = 25.97% (prev 29.07%)
Tobins Q-Ratio = 1.43 (Enterprise Value 54.53b / Total Assets 38.08b)
Interest Expense / Debt = 0.79% (Interest Expense 97.0m / Debt 12.34b)
Taxrate = 0.23% (1.00m / 433.0m)
NOPAT = 2.16b (EBIT 2.16b * (1 - 0.23%))
Current Ratio = 1.14 (Total Current Assets 8.84b / Total Current Liabilities 7.75b)
Debt / Equity = 0.85 (Debt 12.34b / totalStockholderEquity, last quarter 14.51b)
Debt / EBITDA = 3.19 (Net Debt 10.92b / EBITDA 3.42b)
Debt / FCF = 9.69 (Net Debt 10.92b / FCF TTM 1.13b)
Total Stockholder Equity = 14.29b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.46% (Net Income 3.98b / Total Assets 38.08b)
RoE = 27.87% (Net Income TTM 3.98b / Total Stockholder Equity 14.29b)
RoCE = 8.44% (EBIT 2.16b / Capital Employed (Equity 14.29b + L.T.Debt 11.34b))
RoIC = 8.30% (NOPAT 2.16b / Invested Capital 25.99b)
WACC = 7.96% (E(43.61b)/V(55.95b) * Re(9.99%) + D(12.34b)/V(55.95b) * Rd(0.79%) * (1-Tc(0.00)))
Discount Rate = 9.99% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.26%
[DCF Debug] Terminal Value 73.19% ; FCFE base≈1.06b ; Y1≈1.17b ; Y5≈1.51b
Fair Price DCF = 22.48 (DCF Value 18.93b / Shares Outstanding 842.2m; 5y FCF grow 11.98% → 3.0% )
EPS Correlation: 24.15 | EPS CAGR: 20.63% | SUE: 1.12 | # QB: 1
Revenue Correlation: 35.22 | Revenue CAGR: 3.28% | SUE: 0.06 | # QB: 0
Additional Sources for CARR Stock
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