NYSE:CARR

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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

CARRIndustryMarket
7 Day2.5%1.8%1.3%
30 Day18.9%13.2%4.7%
90 Day66.1%35.8%17.1%
1 Yearn/a15.0%7.3%17.3%14.9%
3 Yearn/a29.6%17.8%38.9%29.9%
5 Yearn/a63.1%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

Valuation

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

NamePositionTenureCompensationOwnership
David Gitlin
CEO, President & Director1.17yrsUS$7.74m0.0092%
$ 2.2m
Timothy McLevish
CFO & Executive VP0.83yrUS$4.18mno data
Jurgen Timperman
President of Fire & Securityno dataUS$5.04mno data
Christopher Nelson
President of HVAC-Commercialno dataUS$5.80mno data
John Faraci
Executive Chairman0.33yrno datano data
Rishi Grover
Vice President of Operationsno datano datano data
Samuel Pearlstein
Vice President of Investor Relationsno datano datano data
Kevin O'Connor
VP & Chief Legal Officer0.58yrno data0.000060%
$ 14.2k
Mary Milmoe
Vice President of Communications & Marketingno datano datano data
Nadia Villeneuve
VP & Chief Human Resources Officer5.58yrsno datano data
David Appel
President of Refrigeration10.58yrsno datano data
Bobby George
Chief Digital Officer & VPno datano datano 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

NamePositionTenureCompensationOwnership
David Gitlin
CEO, President & Director1.17yrsUS$7.74m0.0092%
$ 2.2m
John Faraci
Executive Chairman0.33yrno datano data
Michael McNamara
Independent Director0.33yrno datano data
Jean-Pierre Garnier
Lead Independent Director0.33yrno datano data
Michael Todman
Independent Director0.33yrno datano data
Charles Holley
Independent Director0.33yrno datano data
Virginia Wilson
Independent Director0.33yrno datano data
John Greisch
Independent Director0.33yrno data0.0041%
$ 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CARR *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNMar 2020
CARRNYSE (New York Stock Exchange)YesCommon StockUSUSDMar 2020
4PNDB (Deutsche Boerse AG)YesCommon StockDEEURMar 2020
4PNXTRA (XETRA Trading Platform)YesCommon StockDEEURMar 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/02 23:43
End of Day Share Price2020/07/31 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.