Overview Dividends

(CARR) Carrier Global - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US14448C1045

Hvac, Refrigeration, Controls, Services

Building Products
Market Cap in USD: 45,394m

IPO / Inception: 2020-04-03
Return 12m vs S&P 500: -33.2%

EPS (Earnings per Share)

EPS CAGR: 11.87%
EPS Trend: 30.5%

Last SUE: 1.12
Qual. Beats: 1

Revenue

Rev. CAGR: 2.25%
Rev. Trend: 51.6%

Last SUE: 0.06
Qual. Beats: 0

Dividends

Dividend Yield	1.26%
Yield on Cost 5y	1.91%
Yield CAGR 5y	29.81%
Payout Consistency	100.0%
Payout Ratio	32.9%

Risk via 5d forecast
Volatility	29.7%
Value at Risk 5%th	46.3%
Relative Tail Risk	-5.21%

Reward TTM
Sharpe Ratio	-0.67
Alpha	-40.16
CAGR/Max DD	0.26

Character TTM
Hurst Exponent	0.557
Beta	1.064
Beta Downside	0.999

Drawdowns 3y
Max DD	38.10%
Mean DD	11.11%
Median DD	8.58%

Description: CARR Carrier Global December 04, 2025

Carrier Global Corporation (NYSE:CARR) delivers intelligent climate and energy solutions across the United States, Europe, Asia-Pacific, and other international markets, operating under the umbrella of a 2019-incorporated parent headquartered in Palm Beach Gardens, Florida.

The firm is split into two primary segments: Heating, Ventilating and Air Conditioning (HVAC) and Refrigeration. The HVAC segment supplies a full suite of products, controls, services, and upgrades-including air conditioners, heat pumps, building automation systems, and aftermarket support-to residential and commercial customers.

The Refrigeration segment focuses on transport refrigeration and monitoring solutions for trucks, trailers, shipping containers, and rail applications, leveraging digital platforms to improve temperature integrity and supply-chain visibility.

Carrier markets its offerings under a portfolio of well-known brands such as Carrier, Viessmann, Toshiba, Automated Logic, Bryant, and Carrier Transicold, among others. In FY 2023 the company generated roughly $23 billion in revenue, with the HVAC segment contributing about 70 % of total sales; its order backlog remained near $5 billion, reflecting robust demand for heat-pump retrofits driven by tightening energy-efficiency standards and the global shift toward electrification.

For a deeper, data-driven valuation, you may find ValueRay’s analyst toolkit useful.

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

(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) 60.03

1. Piotroski 4.50pt

2. FCF Yield 2.00%

3. FCF Margin 5.11%

4. Debt/Equity 0.85

5. Debt/Ebitda 3.19

6. ROIC - WACC (= 0.32)%

7. RoE 27.87%

8. Rev. Trend 51.57%

9. EPS Trend 30.53%

What is the price of CARR shares?

As of December 26, 2025, the stock is trading at USD 53.50 with a total of 1,663,213 shares traded.
Over the past week, the price has changed by +0.56%, over one month by -0.83%, over three months by -8.59% and over the past year by -22.40%.

Is CARR a buy, sell or hold?

Carrier Global has received a consensus analysts rating of 4.04. Therefore, it is recommended to buy CARR.

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	71.9	34.5%
Analysts Target Price	71.9	34.5%
ValueRay Target Price	53.1	-0.7%

CARR Fundamental Data Overview December 25, 2025

Market Cap USD = 45.39b (45.39b USD * 1.0 USD.USD)
P/E Trailing = 33.3375
P/E Forward = 17.6678
P/S = 2.0579
P/B = 3.0881
P/EG = 14.7287
Beta = 1.298
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 = 56.31b USD (45.39b + Debt 12.34b - CCE 1.42b)
Interest Coverage Ratio = 4.89 (Ebit TTM 2.16b / Interest Expense TTM 442.0m)
FCF Yield = 2.00% (FCF TTM 1.13b / Enterprise Value 56.31b)
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 = 1.48 (Enterprise Value 56.31b / 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 = 7.98% (E(45.39b)/V(57.73b) * Re(9.94%) + D(12.34b)/V(57.73b) * Rd(0.79%) * (1-Tc(0.00)))
Discount Rate = 9.94% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.26%
[DCF Debug] Terminal Value 73.35% ; FCFE base≈1.06b ; Y1≈1.17b ; Y5≈1.51b
Fair Price DCF = 22.64 (DCF Value 19.07b / Shares Outstanding 842.2m; 5y FCF grow 11.98% → 3.0% )
EPS Correlation: 30.53 | EPS CAGR: 11.87% | SUE: 1.12 | # QB: 1
Revenue Correlation: 51.57 | Revenue CAGR: 2.25% | SUE: 0.06 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.58 | Chg30d=-0.027 | Revisions Net=-4 | Analysts=14
EPS next Year (2026-12-31): EPS=2.95 | Chg30d=-0.062 | Revisions Net=-7 | Growth EPS=+11.8% | Growth Revenue=+3.6%

Additional Sources for CARR Stock

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