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

$54.39+0.13(<0.01%)After hours

Market Cap

$45.04B

P/E

34.0x

P/S

2.0x

P/B

3.3x

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: 56/100

Strongest: Cash & Earnings Quality (20/25); weakest: Growth (11/25).

Profitability11/25

Growth11/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality20/25

Strengths

Rising free cash flowImproving marginsNo share dilution

Valuation vs. 5-year range

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

P/E · 34.0x5y range 8.2x – 38.5x

Currently above its 20-quarter median.

P/S · 2.0x5y range 1.5x – 3.0x

Currently near its 20-quarter median.

P/B · 3.3x5y 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

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $45.04B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $22.11B
Q. Revenue: $6.35B
TTM EBITDA: $3.00B
TTM Op. Income: $1.72B
Q. Op. Income: $825.00M
TTM Net Income: $1.32B
Q. Net Income: $541.00M
EPS: $0.61
Shares Out.: $828.10M

$22.11B in TTM revenue grew 5.5% YoY, reaching $6.35B last quarter. TTM EBITDA of $3.00B and TTM operating income of $1.72B show growth is flowing through to the bottom line. TTM net income of $1.32B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 13.0%
Op. Margin: 13.0%
Net Margin: 8.5%

Op. margin of 13.0% is down 1.8% YoY — costs are rising relative to revenue. Net margin at 8.5% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

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

P/E Ratio: 34.0x
P/S Ratio: 2.0x
P/B Ratio: 3.3x

At 34.0x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.0x and P/B of 3.3x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

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

Total Assets: $37.37B
Cash: $1.34B
Long-Term Debt: $10.31B
Book Value: $13.47B
D/E Ratio: 0.8
Debt/EBITDA: 12.5

With $37.37B in assets and $10.31B in long-term debt, D/E is 0.8and book value is $13.47B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 1% — a weakening trend.

Cash Flow

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

Op. Cash Flow: $887.00M
TTM Free Cash Flow: $1.83B
FCF Margin: 8.3%
FCF / Net Income: 1.4

TTM FCF of $1.83B on $887.00M in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 56% — an improving trend.