Carrier Global Corporation (CARR) Financial Ratios
9 years of historical data (2017–2025) · Industrials · Construction
EV/EBITDA
↓
22.97
↑+35% vs avg
5yr avg: 16.97
30Y Low9.6·High20.3
P/FCF
↑
35.35
↓-88% vs avg
5yr avg: 302.75
30Y Low22.6·High26.4
P/B Ratio
↓
4.30
↓-11% vs avg
5yr avg: 4.83
30Y Low3.2·High6.8
ROE
↓
10.5%
↑-64% vs avg
5yr avg: 29.0%
30Y Low8%·High48%
Debt/EBITDA
↑
4.09
+11% vs avg
5yr avg: 3.70
30Y Low0.0·High5.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CARR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Carrier Global Corporation trades at 42.2x earnings, 81% above its 5-year average of 23.3x, sitting at the 100th percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a premium of 65%. On a free-cash-flow basis, the stock trades at 35.4x P/FCF, 88% below the 5-year average of 302.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $60.0B | $44.7B | $62.2B | $49.0B | $35.5B | $48.3B | $33.2B | — | — | — |
| Enterprise Value | $71.1B | $55.9B | $71.0B | $53.8B | $41.4B | $55.5B | $41.1B | — | — | — |
| P/E Ratio → | 42.24 | 31.08 | 11.10 | 35.25 | 10.06 | 29.01 | 16.76 | — | — | — |
| P/S Ratio | 2.76 | 2.06 | 2.77 | 2.59 | 2.05 | 2.34 | 1.90 | — | — | — |
| P/B Ratio | 4.30 | 3.17 | 4.32 | 5.44 | 4.40 | 6.81 | 5.05 | — | — | — |
| P/FCF | 35.35 | 26.36 | 1414.38 | 22.60 | 24.91 | 25.51 | 24.06 | — | — | — |
| P/OCF | 28.72 | 21.42 | 110.54 | 18.80 | 20.38 | 21.59 | 19.62 | — | — | — |
P/E links to full P/E history page with 30-year chart
CARR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Carrier Global Corporation's enterprise value stands at 23.0x EBITDA, 35% above its 5-year average of 17.0x. The Industrials sector median is 13.8x, placing the stock at a 66% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.57 | 3.16 | 2.84 | 2.39 | 2.69 | 2.36 | — | — | — |
| EV / EBITDA | 22.97 | 18.05 | 18.30 | 20.29 | 9.60 | 18.61 | 12.03 | — | — | — |
| EV / EBIT | 33.07 | 30.36 | 30.46 | 24.37 | 21.14 | 21.62 | 19.82 | — | — | — |
| EV / FCF | — | 32.91 | 1613.04 | 24.81 | 29.02 | 29.33 | 29.79 | — | — | — |
CARR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Carrier Global Corporation earns an operating margin of 9.9%, above the Industrials sector average of 4.3%. Operating margins have compressed from 11.4% to 9.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 10.5% is modest. ROIC of 6.7% represents adequate returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.9% | 25.9% | 26.8% | 27.3% | 24.9% | 29.1% | 29.4% | 29.3% | 29.6% | 29.4% |
| Operating Margin | 9.9% | 9.9% | 11.8% | 11.4% | 23.0% | 12.8% | 17.7% | 13.4% | 19.2% | 17.0% |
| Net Profit Margin | 6.9% | 6.9% | 24.9% | 7.1% | 20.4% | 8.1% | 11.4% | 11.4% | 14.5% | 6.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.5% | 10.5% | 47.9% | 15.8% | 46.6% | 24.3% | 18.9% | 14.7% | 18.8% | 8.3% |
| ROA | 4.0% | 4.0% | 16.0% | 4.6% | 13.5% | 6.5% | 8.3% | 9.6% | 12.5% | 5.6% |
| ROIC | 6.7% | 6.7% | 10.8% | 11.7% | 21.1% | 13.8% | 16.1% | 13.5% | 20.2% | 16.7% |
| ROCE | 7.2% | 7.2% | 9.6% | 9.4% | 20.1% | 13.4% | 16.3% | 14.2% | 20.8% | 17.1% |
CARR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Carrier Global Corporation carries a Debt/EBITDA ratio of 4.1x, which is highly leveraged (26% above the sector average of 3.2x). Net debt stands at $11.1B ($12.7B total debt minus $1.6B cash). Interest coverage of 5.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.90 | 0.90 | 0.88 | 1.62 | 1.16 | 1.44 | 1.68 | 0.05 | 0.02 | 0.01 |
| Debt / EBITDA | 4.09 | 4.09 | 3.28 | 5.52 | 2.17 | 3.43 | 3.23 | 0.24 | 0.07 | 0.05 |
| Net Debt / Equity | — | 0.79 | 0.61 | 0.53 | 0.72 | 1.02 | 1.20 | -0.02 | -0.06 | -0.08 |
| Net Debt / EBITDA | 3.59 | 3.59 | 2.25 | 1.80 | 1.36 | 2.43 | 2.32 | -0.10 | -0.21 | -0.34 |
| Debt / FCF | — | 6.55 | 198.66 | 2.20 | 4.10 | 3.82 | 5.74 | -0.15 | -0.47 | -0.66 |
| Interest Coverage | 5.33 | 5.33 | 4.02 | 7.21 | 6.48 | 8.05 | 6.96 | 35.24 | 34.12 | 12.07 |
CARR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.20x means Carrier Global Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.85x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.80x to 1.20x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.20 | 1.20 | 1.25 | 2.80 | 1.64 | 1.72 | 1.67 | 1.33 | 1.37 | 1.41 |
| Quick Ratio | 0.85 | 0.85 | 0.96 | 2.54 | 1.20 | 1.42 | 1.35 | 1.04 | 1.06 | 1.05 |
| Cash Ratio | 0.22 | 0.22 | 0.50 | 1.41 | 0.58 | 0.45 | 0.61 | 0.21 | 0.25 | 0.31 |
| Asset Turnover | — | 0.58 | 0.60 | 0.58 | 0.66 | 0.79 | 0.70 | 0.83 | 0.87 | 0.81 |
| Inventory Turnover | 6.49 | 6.49 | 7.16 | 7.56 | 4.92 | 7.41 | 7.57 | 9.87 | 9.76 | 8.23 |
| Days Sales Outstanding | — | 44.29 | 43.03 | 40.06 | 71.15 | 51.46 | 71.87 | 65.67 | 62.51 | 54.46 |
CARR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Carrier Global Corporation returns 6.1% to shareholders annually — split between a 1.3% dividend yield and 4.8% buyback yield. A payout ratio of 51.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 2.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.3% | 1.7% | 1.1% | 1.3% | 1.4% | 0.9% | 0.4% | — | — | — |
| Payout Ratio | 51.7% | 51.7% | 12.0% | 46.0% | 14.4% | 25.1% | 7.0% | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.4% | 3.2% | 9.0% | 2.8% | 9.9% | 3.4% | 6.0% | — | — | — |
| FCF Yield | 2.8% | 3.8% | 0.1% | 4.4% | 4.0% | 3.9% | 4.2% | — | — | — |
| Buyback Yield | 4.8% | 6.5% | 3.1% | 0.1% | 3.9% | 1.1% | 0.0% | — | — | — |
| Total Shareholder Yield | 6.1% | 8.2% | 4.2% | 1.4% | 5.3% | 2.0% | 0.4% | — | — | — |
| Shares Outstanding | — | $847M | $912M | $853M | $861M | $890M | $880M | $866M | $873M | $873M |
Peer Comparison
Compare CARR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CARRYou | $60B | 42.2 | 23.0 | 35.4 | 25.9% | 9.9% | 10.5% | 6.7% | 4.1 |
 TT | $107B | 37.2 | 26.0 | 38.1 | 36.2% | 18.6% | 36.3% | 26.2% | 1.1 |
 LII | $19B | 24.0 | 18.3 | 29.0 | 33.0% | 19.5% | 78.1% | 29.8% | 1.8 |
 JCI | $88B | 55.1 | 26.9 | 91.6 | 36.4% | 12.0% | 21.7% | 8.5% | 3.0 |
 ALLE | $11B | 18.0 | 13.5 | 16.7 | 45.2% | 21.1% | 36.1% | 18.1% | 2.3 |
 AAON | $11B | 106.0 | 50.2 | — | 26.7% | 10.6% | 12.5% | 9.8% | 1.9 |
 DKNG | $13B | -3258.0 | 51.7 | 20.2 | 41.3% | -0.3% | 0.5% | -0.9% | 7.4 |
 WMS | $11B | 27.0 | 14.2 | 19.8 | 36.3% | 22.5% | 23.7% | 16.8% | 2.0 |
 GNRC | $16B | 103.8 | 35.9 | 61.1 | 38.3% | 6.9% | 6.2% | 5.9% | 2.8 |
 WATT | $37M | -3.9 | — | — | 36.0% | -159.0% | -168.0% | -578.5% | — |
 SNDR | $6B | 60.5 | 10.7 | 18.0 | 5.3% | 3.0% | 3.4% | 3.7% | 0.9 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
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CARR — Frequently Asked Questions
Quick answers to the most common questions about buying CARR stock.
What is Carrier Global Corporation's P/E ratio?
Carrier Global Corporation's current P/E ratio is 42.2x. The historical average is 22.2x. This places it at the 100th percentile of its historical range.
What is Carrier Global Corporation's EV/EBITDA?
Carrier Global Corporation's current EV/EBITDA is 23.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.1x.
What is Carrier Global Corporation's ROE?
Carrier Global Corporation's return on equity (ROE) is 10.5%. The historical average is 22.9%.
Is CARR stock overvalued?
Based on historical data, Carrier Global Corporation is trading at a P/E of 42.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Carrier Global Corporation's dividend yield?
Carrier Global Corporation's current dividend yield is 1.27% with a payout ratio of 51.7%.
What are Carrier Global Corporation's profit margins?
Carrier Global Corporation has 25.9% gross margin and 9.9% operating margin.
How much debt does Carrier Global Corporation have?
Carrier Global Corporation's Debt/EBITDA ratio is 4.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.