Carrier Global (CARR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Carrier Global

NYSE•Industrials•Building Products & Equipment

$53.63-1.91(-0.03%)Market closed

Market Cap

$45.35B

P/S

2.0x

P/B

4.4x

Carrier Global Corporation provides intelligent climate and energy solutions in the United States, Europe, the Asia Pacific, and internationally. It operates through four segments: Climate Solutions Americas; Climate Solutions Europe; Climate Solutions Asia Pacific, Middle East & Africa; and Climate Solutions Transportation. The company provides air conditioners, heating systems, heat pumps, home and building energy management systems, automation systems, aftermarket components, and repair and maintenance and rental services, as well as modernization and upgrades to meet the heating, cooling, and ventilation needs of residential and commercial customers. It also offers transport refrigeration and monitoring products, services, and digital solutions for trucks, trailers, shipping containers, and intermodal and rail applications. The company offers its products under the Carrier, Viessmann, Toshiba, Automated Logic, Bryant, CIAT, Day & Night, Heil, NORESCO, Carrier Transicold, and Sensitech brands. The company was incorporated in 2019 and is headquartered in Palm Beach Gardens, Florida.

How this company scores

AverageMetricSide Score: 48/100

Strongest: Cash & Earnings Quality (18/25); weakest: Profitability (4/25).

Profitability4/25

Growth14/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality18/25

Strengths

Rising free cash flowNo share dilution

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 46.0x5y range 8.2x – 46.0x

Currently above its 19-quarter median.

P/S · 2.0x5y range 1.5x – 3.0x

Currently near its 20-quarter median.

P/B · 4.4x5y range 3.2x – 6.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 2.1x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $45.35B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $22.79B
Q. Revenue: $6.26B
TTM EBITDA: $186.00M
TTM Op. Income: $-1.09B
Q. Op. Income: $-2.27B
TTM Net Income: $-1.67B
Q. Net Income: $-2.54B
EPS: $-3.16
Shares Out.: $821.80M

$22.79B in TTM revenue grew 11.0% YoY, reaching $6.26B last quarter. TTM EBITDA of $186.00M and TTM operating income of $-1.09B show growth is flowing through to the bottom line. However, net income is negative at $1.67B — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -36.3%
Op. Margin: -36.3%
Net Margin: -40.6%

Op. margin of -36.3% is down 46.0% YoY — costs are rising relative to revenue. Net margin at -40.6% Over the past year, operating margin is down 476% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 2.0x
P/B Ratio: 4.4x

P/S of 2.0x and P/B of 4.4x. P/S is low relative to typical market levels. Across the last 7 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $33.59B
Cash: $1.35B
Long-Term Debt: $9.99B
Book Value: $10.42B
D/E Ratio: 1.0
Debt/EBITDA: N/A

With $33.59B in assets and $9.99B in long-term debt, D/E is 1.0and book value is $10.42B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $752.00M
TTM Free Cash Flow: $2.24B
FCF Margin: 9.8%
FCF / Net Income: -1.3

TTM FCF of $2.24B on $752.00M in operating cash flow. The FCF / Net Income ratio of -1.3x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.