Carrier Global
Market Cap
US$23.6b
Last Updated
2020/08/02 23:43 UTC
Data Sources
Company Financials +
Executive Summary
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide.
Snowflake Analysis
Limited growth with imperfect balance sheet.
Similar Companies
Share Price & News
How has Carrier Global's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CARR's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
2.5%
CARR
1.8%
US Building
1.3%
US Market
1 Year Return
n/a
CARR
7.3%
US Building
14.9%
US Market
Return vs Industry: Insufficient data to determine how CARR performed against the US Building industry.
Return vs Market: Insufficient data to determine how CARR performed against the US Market.
Shareholder returns
| CARR | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.5% | 1.8% | 1.3% |
| 30 Day | 18.9% | 13.2% | 4.7% |
| 90 Day | 66.1% | 35.8% | 17.1% |
| 1 Year | n/a | 15.0%7.3% | 17.3%14.9% |
| 3 Year | n/a | 29.6%17.8% | 38.9%29.9% |
| 5 Year | n/a | 63.1%37.2% | 71.3%52.8% |
Price Volatility Vs. Market
How volatile is Carrier Global's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
Does Carrier Global Corporation (NYSE:CARR) Have A Place In Your Dividend Portfolio?1 month ago | Simply Wall St
Why Carrier Global Corporation (NYSE:CARR) Looks Like A Quality CompanyValuation
Is Carrier Global undervalued compared to its fair value and its price relative to the market?
18.3x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: CARR ($27.24) is trading above our estimate of fair value ($19.16)
Significantly Below Fair Value: CARR is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CARR is good value based on its PE Ratio (18.3x) compared to the US Building industry average (23.4x).
PE vs Market: CARR is poor value based on its PE Ratio (18.3x) compared to the US market (17.8x).
Price to Earnings Growth Ratio
PEG Ratio: CARR is poor value based on its PEG Ratio (1x)
Price to Book Ratio
PB vs Industry: CARR is overvalued based on its PB Ratio (5.9x) compared to the US Building industry average (2.7x).
Next Steps
Future Growth
How is Carrier Global forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
18.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CARR's forecast earnings growth (18.3% per year) is above the savings rate (2.2%).
Earnings vs Market: CARR's earnings (18.3% per year) are forecast to grow slower than the US market (22.2% per year).
High Growth Earnings: CARR's earnings are forecast to grow, but not significantly.
Revenue vs Market: CARR's revenue (5.2% per year) is forecast to grow slower than the US market (9.3% per year).
High Growth Revenue: CARR's revenue (5.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CARR's Return on Equity is forecast to be high in 3 years time (29%)
Next Steps
Past Performance
How has Carrier Global performed over the past 5 years?
-46.9%
Last years earnings growth
Earnings and Revenue History
Quality Earnings: CARR has high quality earnings.
Growing Profit Margin: CARR's current net profit margins (7.5%) are lower than last year (12.9%).
Past Earnings Growth Analysis
Earnings Trend: Insufficient data to determine if CARR's year-on-year earnings growth rate was positive over the past 5 years.
Accelerating Growth: CARR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CARR had negative earnings growth (-46.9%) over the past year, making it difficult to compare to the Building industry average (-6.8%).
Return on Equity
High ROE: Whilst CARR's Return on Equity (30.44%) is high, this metric is skewed due to their high level of debt.
Next Steps
Financial Health
How is Carrier Global's financial position?
Financial Position Analysis
Short Term Liabilities: CARR's short term assets ($8.1B) exceed its short term liabilities ($4.8B).
Long Term Liabilities: CARR's short term assets ($8.1B) do not cover its long term liabilities ($15.0B).
Debt to Equity History and Analysis
Debt Level: CARR's debt to equity ratio (275.5%) is considered high.
Reducing Debt: Insufficient data to determine if CARR's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: CARR's debt is not well covered by operating cash flow (18.2%).
Interest Coverage: CARR's interest payments on its debt are well covered by EBIT (20x coverage).
Balance Sheet
Next Steps
Dividend
What is Carrier Global current dividend yield, its reliability and sustainability?
1.17%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CARR's dividend (1.17%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.66%).
High Dividend: CARR's dividend (1.17%) is low compared to the top 25% of dividend payers in the US market (4.51%).
Stability and Growth of Payments
Stable Dividend: Too early to tell whether CARR's dividend payments have been stable as they only just started paying a dividend.
Growing Dividend: Too early to tell if CARR's dividend payments are increasing as they only just started paying a dividend.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (5.4%), CARR's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CARR's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.0yrs
Average management tenure
CEO
Dave Gitlin (51 yo)
1.17yrs
Tenure
US$7,739,280
Compensation
Mr. David L. Gitlin, also known as Dave, serves as President and Chief Executive Officer of Carrier Corporation since June 2019 & has been its Director since April 03, 2020. He has been President and Chief ...
CEO Compensation Analysis
Compensation vs Market: Dave's total compensation ($USD7.74M) is below average for companies of similar size in the US market ($USD11.35M).
Compensation vs Earnings: Dave's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 1.17yrs | US$7.74m | 0.0092% $ 2.2m | |
| CFO & Executive VP | 0.83yr | US$4.18m | no data | |
| President of Fire & Security | no data | US$5.04m | no data | |
| President of HVAC-Commercial | no data | US$5.80m | no data | |
| Executive Chairman | 0.33yr | no data | no data | |
| Vice President of Operations | no data | no data | no data | |
| Vice President of Investor Relations | no data | no data | no data | |
| VP & Chief Legal Officer | 0.58yr | no data | 0.000060% $ 14.2k | |
| Vice President of Communications & Marketing | no data | no data | no data | |
| VP & Chief Human Resources Officer | 5.58yrs | no data | no data | |
| President of Refrigeration | 10.58yrs | no data | no data | |
| Chief Digital Officer & VP | no data | no data | no data |
1.0yrs
Average Tenure
50.5yo
Average Age
Experienced Management: CARR's management team is not considered experienced ( 1 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 1.17yrs | US$7.74m | 0.0092% $ 2.2m | |
| Executive Chairman | 0.33yr | no data | no data | |
| Independent Director | 0.33yr | no data | no data | |
| Lead Independent Director | 0.33yr | no data | no data | |
| Independent Director | 0.33yr | no data | no data | |
| Independent Director | 0.33yr | no data | no data | |
| Independent Director | 0.33yr | no data | no data | |
| Independent Director | 0.33yr | no data | 0.0041% $ 965.0k |
0.3yrs
Average Tenure
64yo
Average Age
Experienced Board: CARR's board of directors are not considered experienced ( 0.3 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CARR insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: CARR only recently listed within the past 12 months.
Top Shareholders
Company Information
Carrier Global Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Carrier Global Corporation
- Ticker: CARR
- Exchange: NYSE
- Founded:
- Industry: Building Products
- Sector: Capital Goods
- Market Cap: US$23.594b
- Shares outstanding: 866.16m
- Website: https://www.corporate.carrier.com
Number of Employees
Location
- Carrier Global Corporation
- 13995 Pasteur Boulevard
- Palm Beach Gardens
- Florida
- 33418
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CARR * | BMV (Bolsa Mexicana de Valores) | Yes | Common Stock | MX | MXN | Mar 2020 |
| CARR | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Mar 2020 |
| 4PN | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Mar 2020 |
| 4PN | XTRA (XETRA Trading Platform) | Yes | Common Stock | DE | EUR | Mar 2020 |
Biography
Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVA ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/08/02 23:43 |
| End of Day Share Price | 2020/07/31 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.