(CARR) Carrier Global - Ratings and Ratios
Air Conditioners, Heat Pumps, Refrigeration, HVAC Controls, Transport Monitoring
CARR EPS (Earnings per Share)
CARR Revenue
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 | 49,223m |
| Sub-Industry | Building Products |
| IPO / Inception | 2020-04-03 |
CARR Stock Ratings
| Growth Rating | 26.0% |
| Fundamental | 55.8% |
| Dividend Rating | 70.4% |
| Return 12m vs S&P 500 | -31.7% |
| Analyst Rating | 4.04 of 5 |
CARR Dividends
| Dividend Yield 12m | 1.51% |
| Yield on Cost 5y | 2.74% |
| Annual Growth 5y | 29.81% |
| Payout Consistency | 100.0% |
| Payout Ratio | 33.3% |
CARR Growth Ratios
| Growth Correlation 3m | -88.1% |
| Growth Correlation 12m | -41.4% |
| Growth Correlation 5y | 80.7% |
| CAGR 5y | 15.65% |
| CAGR/Max DD 3y (Calmar Ratio) | 0.48 |
| CAGR/Mean DD 3y (Pain Ratio) | 1.62 |
| Sharpe Ratio 12m | -1.12 |
| Alpha | -41.52 |
| Beta | 1.254 |
| Volatility | 32.25% |
| Current Volume | 5294.8k |
| Average Volume 20d | 6201.1k |
| Stop Loss | 57.5 (-3.3%) |
| Signal | 0.77 |
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income (4.02b TTM) > 0 and > 6% of Revenue (6% = 1.35b TTM) |
| FCFTA 0.01 (>2.0%) and ΔFCFTA -4.20pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 5.80% (prev 4.20%; Δ 1.60pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.03 (>3.0%) and CFO 995.0m <= Net Income 4.02b (YES >=105%, WARN >=100%) |
| Net Debt (10.09b) to EBITDA (3.62b) ratio: 2.79 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.17 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (866.3m) change vs 12m ago -5.32% (target <= -2.0% for YES) |
| Gross Margin 27.89% (prev 27.59%; Δ 0.31pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 56.93% (prev 52.92%; Δ 4.01pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 5.02 (EBITDA TTM 3.62b / Interest Expense TTM 476.0m) >= 6 (WARN >= 3) |
Altman Z'' 2.20
| (A) 0.03 = (Total Current Assets 9.13b - Total Current Liabilities 7.83b) / Total Assets 38.49b |
| (B) 0.32 = Retained Earnings (Balance) 12.29b / Total Assets 38.49b |
| (C) 0.06 = EBIT TTM 2.39b / Avg Total Assets 39.46b |
| (D) 0.51 = Book Value of Equity 11.89b / Total Liabilities 23.48b |
| Total Rating: 2.20 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 55.81
| 1. Piotroski 5.0pt = 0.0 |
| 2. FCF Yield 0.91% = 0.46 |
| 3. FCF Margin 2.41% = 0.60 |
| 4. Debt/Equity 0.81 = 2.18 |
| 5. Debt/Ebitda 2.79 = -1.45 |
| 6. ROIC - WACC (= -1.41)% = -1.76 |
| 7. RoE 28.03% = 2.34 |
| 8. Rev. Trend 31.63% = 2.37 |
| 9. EPS Trend 21.30% = 1.06 |
What is the price of CARR shares?
Over the past week, the price has changed by +3.25%, over one month by +0.03%, over three months by -12.97% and over the past year by -17.09%.
Is Carrier Global a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CARR is around 54.97 USD . This means that CARR is currently overvalued and has a potential downside of -7.6%.
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 | 74.3 | 24.9% |
| Analysts Target Price | 74.3 | 24.9% |
| ValueRay Target Price | 61.4 | 3.2% |
CARR Fundamental Data Overview October 27, 2025
P/E Trailing = 33.2414
P/E Forward = 18.4502
P/S = 2.1913
P/B = 3.4085
P/EG = 15.3866
Beta = 1.254
Revenue TTM = 22.46b USD
EBIT TTM = 2.39b USD
EBITDA TTM = 3.62b USD
Long Term Debt = 11.34b USD (from longTermDebt, last quarter)
Short Term Debt = 107.0m USD (from shortTermDebt, last quarter)
Debt = 11.89b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 10.09b USD (from netDebt column, last quarter)
Enterprise Value = 59.31b USD (49.22b + Debt 11.89b - CCE 1.80b)
Interest Coverage Ratio = 5.02 (Ebit TTM 2.39b / Interest Expense TTM 476.0m)
FCF Yield = 0.91% (FCF TTM 542.0m / Enterprise Value 59.31b)
FCF Margin = 2.41% (FCF TTM 542.0m / Revenue TTM 22.46b)
Net Margin = 17.89% (Net Income TTM 4.02b / Revenue TTM 22.46b)
Gross Margin = 27.89% ((Revenue TTM 22.46b - Cost of Revenue TTM 16.20b) / Revenue TTM)
Gross Margin QoQ = 29.07% (prev 27.73%)
Tobins Q-Ratio = 1.54 (Enterprise Value 59.31b / Total Assets 38.49b)
Interest Expense / Debt = 0.97% (Interest Expense 115.0m / Debt 11.89b)
Taxrate = 19.95% (162.0m / 812.0m)
NOPAT = 1.91b (EBIT 2.39b * (1 - 19.95%))
Current Ratio = 1.17 (Total Current Assets 9.13b / Total Current Liabilities 7.83b)
Debt / Equity = 0.81 (Debt 11.89b / totalStockholderEquity, last quarter 14.71b)
Debt / EBITDA = 2.79 (Net Debt 10.09b / EBITDA 3.62b)
Debt / FCF = 18.62 (Net Debt 10.09b / FCF TTM 542.0m)
Total Stockholder Equity = 14.33b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.44% (Net Income 4.02b / Total Assets 38.49b)
RoE = 28.03% (Net Income TTM 4.02b / Total Stockholder Equity 14.33b)
RoCE = 9.31% (EBIT 2.39b / Capital Employed (Equity 14.33b + L.T.Debt 11.34b))
RoIC = 7.31% (NOPAT 1.91b / Invested Capital 26.17b)
WACC = 8.72% (E(49.22b)/V(61.11b) * Re(10.64%) + D(11.89b)/V(61.11b) * Rd(0.97%) * (1-Tc(0.20)))
Discount Rate = 10.64% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.71%
[DCF Debug] Terminal Value 70.45% ; FCFE base≈1.23b ; Y1≈1.31b ; Y5≈1.56b
Fair Price DCF = 21.14 (DCF Value 17.99b / Shares Outstanding 851.0m; 5y FCF grow 6.66% → 3.0% )
EPS Correlation: 21.30 | EPS CAGR: 10.45% | SUE: 0.43 | # QB: 0
Revenue Correlation: 31.63 | Revenue CAGR: 4.26% | SUE: 0.03 | # QB: 0
Additional Sources for CARR Stock
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Fund Manager Positions: Dataroma | Stockcircle