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CARR

Carrier GlobalNYSE:CARR Stock Report

Last Price

US$47.21

Market Cap

US$40.9b

7D

-4.9%

1Y

26.5%

Updated

26 Jan, 2022

Data

Company Financials +
CARR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance3/6
Financial Health2/6
Dividends2/6

CARR Stock Overview

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide.

Carrier Global Competitors

Johnson Controls International

NYSE:JCI

US$51.3b

Trane Technologies

NYSE:TT

US$41.1b

Lennox International

NYSE:LII

US$10.4b

Honeywell International

NasdaqGS:HON

US$139.3b

Price History & Performance

Summary of all time highs, changes and price drops for Carrier Global
Historical stock prices
Current Share PriceUS$47.21
52 Week HighUS$58.89
52 Week LowUS$34.21
Beta0
1 Month Change-10.62%
3 Month Change-11.19%
1 Year Change26.50%
3 Year Changen/a
5 Year Changen/a
Change since IPO293.42%

Recent News & Updates

Dec 30
Carrier Global Corporation's (NYSE:CARR) Share Price Not Quite Adding Up

Carrier Global Corporation's (NYSE:CARR) Share Price Not Quite Adding Up

Carrier Global Corporation's ( NYSE:CARR ) price-to-earnings (or "P/E") ratio of 20.9x might make it look like a sell...

Dec 12

Carrier: Getting Some Chills

Carrier has done great since being spun off from UTC. The operating performance has been resilient, as expectations of investors have only been on the increase. This re-rating has been largely warranted, yet I think that it has been a bit too much here.

Dec 12
Carrier Global's (NYSE:CARR) Upcoming Dividend Will Be Larger Than Last Year's

Carrier Global's (NYSE:CARR) Upcoming Dividend Will Be Larger Than Last Year's

Carrier Global Corporation ( NYSE:CARR ) will increase its dividend on the 10th of February to US$0.15. This takes the...

Dec 02
Carrier Global (NYSE:CARR) Has A Pretty Healthy Balance Sheet

Carrier Global (NYSE:CARR) Has A Pretty Healthy Balance Sheet

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...

Shareholder Returns

CARRUS BuildingUS Market
7D-4.9%-4.7%-5.1%
1Y26.5%18.8%3.3%

Return vs Industry: CARR exceeded the US Building industry which returned 18.5% over the past year.

Return vs Market: CARR exceeded the US Market which returned 4.2% over the past year.

Price Volatility

Is CARR's price volatile compared to industry and market?
CARR volatility
CARR Average Weekly Movement3.9%
Building Industry Average Movement5.3%
Market Average Movement6.7%
10% most volatile stocks in US Market15.4%
10% least volatile stocks in US Market2.4%

Stable Share Price: CARR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: CARR's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
201956,000Dave Gitlinhttps://www.corporate.carrier.com

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

Carrier Global Fundamentals Summary

How do Carrier Global's earnings and revenue compare to its market cap?
CARR fundamental statistics
Market CapUS$40.91b
Earnings (TTM)US$2.22b
Revenue (TTM)US$20.07b

18.4x

P/E Ratio

2.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CARR income statement (TTM)
RevenueUS$20.07b
Cost of RevenueUS$14.14b
Gross ProfitUS$5.93b
ExpensesUS$3.71b
EarningsUS$2.22b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 08, 2022

Earnings per share (EPS)2.57
Gross Margin29.55%
Net Profit Margin11.08%
Debt/Equity Ratio134.1%

How did CARR perform over the long term?

See historical performance and comparison

Dividends

1.3%

Current Dividend Yield

19%

Payout Ratio

Valuation

Is Carrier Global undervalued compared to its fair value and its price relative to the market?

6.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CARR ($47.21) is trading below our estimate of fair value ($50.66)

Significantly Below Fair Value: CARR is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CARR is good value based on its PE Ratio (18.4x) compared to the US Building industry average (20.6x).

PE vs Market: CARR is poor value based on its PE Ratio (18.4x) compared to the US market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: CARR is poor value based on its PEG Ratio (2.4x)


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).


Future Growth

How is Carrier Global forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?

7.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CARR's forecast earnings growth (7.8% per year) is above the savings rate (2%).

Earnings vs Market: CARR's earnings (7.8% per year) are forecast to grow slower than the US market (13% per year).

High Growth Earnings: CARR's earnings are forecast to grow, but not significantly.

Revenue vs Market: CARR's revenue is expected to decline over the next 3 years (-0.2% per year).

High Growth Revenue: CARR's revenue is forecast to decline over the next 3 years (-0.2% 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 (28.1%)


Past Performance

How has Carrier Global performed over the past 5 years?

6.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CARR has a large one-off gain of $865.0M impacting its September 30 2021 financial results.

Growing Profit Margin: CARR's current net profit margins (11.1%) are higher than last year (8.9%).


Past Earnings Growth Analysis

Earnings Trend: CARR's earnings have grown by 6.9% per year over the past 5 years.

Accelerating Growth: CARR's earnings growth over the past year (44.6%) exceeds its 5-year average (6.9% per year).

Earnings vs Industry: CARR earnings growth over the past year (44.6%) underperformed the Building industry 45%.


Return on Equity

High ROE: Whilst CARR's Return on Equity (31.24%) is high, this metric is skewed due to their high level of debt.


Financial Health

How is Carrier Global's financial position?


Financial Position Analysis

Short Term Liabilities: CARR's short term assets ($11.3B) exceed its short term liabilities ($6.1B).

Long Term Liabilities: CARR's short term assets ($11.3B) do not cover its long term liabilities ($12.5B).


Debt to Equity History and Analysis

Debt Level: CARR's net debt to equity ratio (97.2%) 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 (15.7%).

Interest Coverage: CARR's interest payments on its debt are well covered by EBIT (7.4x coverage).


Balance Sheet


Dividend

What is Carrier Global current dividend yield, its reliability and sustainability?

1.27%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CARR's dividend (1.27%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.36%).

High Dividend: CARR's dividend (1.27%) is low compared to the top 25% of dividend payers in the US market (3.57%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CARR has been paying a dividend for less than 10 years.

Growing Dividend: CARR's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (18.7%), CARR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CARR's dividends in 3 years are forecast to be well covered by earnings (27.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

Dave Gitlin (52 yo)

2.58yrs

Tenure

US$15,440,951

Compensation

Mr. David L. Gitlin, also known as Dave, serves Chief Executive Officer of Carrier Corporation since June 2019 & has been its Director since April 03, 2020 and also serves as its Chairman since April 19, 2...


CEO Compensation Analysis

Compensation vs Market: Dave's total compensation ($USD15.44M) is above average for companies of similar size in the US market ($USD11.47M).

Compensation vs Earnings: Dave's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: CARR's management team is considered experienced (2.4 years average tenure).


Board Members

Experienced Board: CARR's board of directors are not considered experienced ( 1.8 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 only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Carrier Global Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Carrier Global Corporation
  • Ticker: CARR
  • Exchange: NYSE
  • Founded: 2019
  • Industry: Building Products
  • Sector: Capital Goods
  • Implied Market Cap: US$40.911b
  • Shares outstanding: 866.58m
  • Website: https://www.corporate.carrier.com

Number of Employees


Location

  • Carrier Global Corporation
  • 13995 Pasteur Boulevard
  • Palm Beach Gardens
  • Florida
  • 33418
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/26 00:57
End of Day Share Price2022/01/25 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.