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Carrier Global Corp Ordinary Shares CARR

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Stock XNYS Rating as of
$53.65 −0.60 (1.11%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Carrier's Transformation Plan Nearing the Finish Line; To Sell Industrial Fire for Over $1 Billion

Brian Bernard

Carrier Global, a leading supplier of heating, ventilation, air-conditioning, and refrigeration products and related services, was spun off from United Technologies in April 2020. Since then, the firm has undergone a substantial transformation. Over the years following the spinoff, Carrier's management focused on strengthening the firm's balance sheet and organic reinvestment. Notably, the company sold its Chubb fire and security services business and its ownership stake in the Beijer joint venture to raise capital to pay down debt. Carrier also increased spending on research and development, its sales organization, and capital projects to support product development and growth initiatives.

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Price vs Fair Value

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CARR is trading at a 8% premium.
Price
$54.25
Fair Value
$71.00
Uncertainty
Medium
1-Star Price
$79.50
5-Star Price
$13.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

After separating from United Technologies, Carrier is in full control of its destiny. Organic reinvestment should boost its long-term growth prospects, and cost-cutting initiatives should result in stronger profit margins.

Bears

Carrier's acquisition of Viessmann will add significant leverage and could destroy shareholder value if the target's financial performance falls short of management's goals. Reduced incentives for heat pump purchases in some European markets could be a near-term headwind.

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Trading Information

Previous Close Price
$54.25
Day Range
$53.61–54.82
52-Week Range
$40.29–60.83
Bid/Ask
$53.62 / $53.64
Market Cap
$48.28 Bil
Volume/Avg
1.3 Mil / 5.2 Mil

Key Statistics

Price/Earnings (Normalized)
20.06
Price/Sales
2.11
Dividend Yield (Trailing)
1.37%
Dividend Yield (Forward)
1.40%
Total Yield
1.47%

Company Profile

Carrier Global manufactures heating, ventilation, and air conditioning, refrigeration, and fire and security products. The HVAC business serves both residential and commercial markets (HVAC segment sales mix is 60% commercial and 40% residential). Carrier's refrigeration segment consists of its transportation refrigeration, Sensitech supply chain monitoring, and commercial refrigeration businesses. The firm's fire and security business manufactures fire detection and suppression, access controls, and intrusion detection products. In April 2023, Carrier announced that it plans to divest its fire and security and commercial refrigeration businesses. The firm also acquired Germany-based Viessmann for approximately $13 billion.
Sector
Industrials
Industry
Building Products & Equipment
Stock Style Box
Mid Core
Total Number of Employees
53,000
Website
https://www.corporate.carrier.com

Competitors

Valuation

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Metric
CARR
HON
JCI
Price/Earnings (Normalized)
 20.0620.4518.67
Price/Book Value
 5.307.832.62
Price/Sales
 2.113.471.65
Price/Cash Flow
 23.4625.5515.09
Price/Earnings
CARR
HON
JCI

Financial Strength

Metric
CARR
HON
JCI
Quick Ratio
 1.860.840.63
Current Ratio
 2.731.270.97
Interest Coverage
 6.349.947.36
Quick Ratio
CARR
HON
JCI

Profitability

Metric
CARR
HON
JCI
Return on Assets (Normalized)
 8.43%9.49%5.55%
Return on Equity (Normalized)
 28.60%34.73%14.71%
Return on Invested Capital (Normalized)
 13.13%16.29%9.63%
Return on Assets
CARR
HON
JCI
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