Carrier Global Corp Stock Research

Market Summary

USD43.92-0.38

Market Closed

-0.86%

CARR Alerts

2 major insider sales recently.

CARR Stock Price

CARR RSI Chart

CARR Valuation

Market Cap

36.7B

Price/Earnings (Trailing)

10.23

Price/Sales (Trailing)

1.8

EV/EBITDA

8.96

Price/Free Cashflow

21.03

CARR Price/Sales (Trailing)

CARR Profitability

EBT Margin

21.02%

Return on Equity

44.38%

Return on Assets

13.74%

Free Cashflow Yield

4.75%

CARR Fundamentals

CARR Revenue

Revenue (TTM)

20.4B

Revenue Y/Y

-0.55%

Revenue Q/Q

-6.35%

CARR Earnings

Earnings (TTM)

3.6B

Earnings Y/Y

-16.27%

Earnings Q/Q

-79.13%

Price Action

52 Week Range

32.9749.17

(Low)(High)

Last 7 days

-1.3%

Last 30 days

0.7%

Last 90 days

5.1%

Trailing 12 Months

-3.7%

CARR Financial Health

Current Ratio

1.64

Debt/Equity

1.08

Debt/Cashflow

0.2

CARR Investor Care

Dividend Yield

1.46%

Dividend/Share (TTM)

0.64

Buy Backs (1Y)

3.23%

Diluted EPS (TTM)

4.1

Peers (Alternatives to Carrier Global)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
TT	42.2B	16.0B	1.00%	17.67%	24.04	2.64	13.12%	23.40%
CARR	36.7B	20.4B	0.73%	-3.72%	10.23	1.8	-0.93%	110.70%
BLDR	11.7B	22.7B	7.54%	21.47%	4.27	0.52	14.24%	59.35%
MID-CAP
AAON	4.9B	888.8M	16.94%	72.40%	48.57	5.49	66.28%	70.83%
LII	8.6B	4.7B	-3.75%	-5.78%	17.39	1.83	12.50%	7.13%
OC	8.4B	9.8B	-5.70%	-0.24%	6.8	0.86	14.86%	24.72%
FBHS	7.7B	4.7B	-5.00%	-39.38%	11.25	1.64	-1.63%	-11.10%
TREX	5.0B	1.1B	-9.38%	-33.87%	27.26	4.55	-7.60%	-11.55%
CSWI	2.1B	735.5M	-3.40%	18.28%	24.01	2.87	25.40%	50.53%
SMALL-CAP
ROCK	1.6B	1.4B	-12.40%	0.69%	19.19	1.14	3.75%	8.96%
PGTI	1.3B	1.5B	8.50%	15.87%	13.82	0.9	28.46%	209.28%
NX	673.2M	1.2B	-20.31%	-8.22%	7.62	0.55	13.93%	55.03%
IIIN	528.7M	815.3M	-5.31%	-30.99%	4.68	0.65	25.53%	38.49%
APT	51.4M	63.0M	-2.37%	-7.00%	15.49	0.82	-25.47%	-75.19%

Financials for Carrier Global

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-0.1%	20,421	20,449	20,339	20,568	20,613
S&GA Expenses	-5.4%	2,512	2,655	2,779	2,978	3,120
R&D Expenses	2.9%	539	524	504	507	503
EBITDA	0.2%	4,672	4,664	3,943	4,245	-
EBITDA Margin	0.3%	0.23*	0.23*	0.19*	0.21*	-
Earnings Before Taxes	-0.6%	4,292	4,320	3,618	3,592	2,400
EBT Margin	-0.5%	0.21*	0.21*	0.18*	0.17*	-
Interest Expenses	-	319	-	-	-	-
Net Income	-1.5%	3,584	3,638	2,786	2,696	1,701
Net Income Margin	-1.3%	0.18*	0.18*	0.14*	0.13*	-
Free Cahsflow	13.7%	1,743	1,533	1,322	1,851	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	2.9%	26,086	25,350	23,662	24,193	26,172
Current Assets	1.4%	9,879	9,740	9,276	9,602	11,407
Cash Equivalents	17.9%	3,520	2,985	3,017	3,604	2,987
Inventory	-0.9%	2,640	2,664	2,350	2,358	1,970
Net PPE	9.1%	2,241	2,055	1,805	1,825	1,826
Goodwill	3.7%	9,977	9,621	9,067	9,288	9,349
Liabilities	0.7%	18,010	17,887	16,670	16,763	19,078
Current Liabilities	0.3%	6,032	6,013	5,546	5,531	6,627
Long Term Debt	-8.5%	8,702	9,513	-	-	-
LT Debt, Current	-36.1%	140	219	269	256	183
LT Debt, Non Current	4.5%	8,670	8,298	8,305	9,513	-
Shareholder's Equity	8.2%	8,076	7,463	6,992	7,430	7,094
Retained Earnings	-0.2%	5,866	5,876	4,564	4,244	2,865
Additional Paid-In Capital	0.3%	5,481	5,463	5,441	5,415	5,411
Shares Outstanding	-0.6%	835	840	846	853	863
Minority Interest	2.3%	318	311	296	329	327

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	13.7%	1,743	1,533	1,322	1,851	2,237
Share Based Compensation	-14.4%	77.00	90.00	94.00	95.00	92.00
Cashflow From Investing	-1.9%	1,745	1,779	2,254	2,177	-692
Cashflow From Financing	-0.3%	-2,931	-2,921	-3,098	-2,939	-1,562
Dividend Payments	4.3%	509	488	465	442	417
Buy Backs	-8.8%	1,380	1,513	1,411	1,225	527

Risks for CARR

What is the probability of a big loss on CARR?

38.0%

Probability that Carrier Global stock will be more than 20% underwater in next one year

23.4%

Probability that Carrier Global stock will be more than 30% underwater in next one year.

6.3%

Probability that Carrier Global stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CARR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Carrier Global was unfortunately bought at previous high price.

Drawdowns

Returns for CARR

Cumulative Returns on CARR

57.1%

3-Year Cumulative Returns

Which funds bought or sold CARR recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-11.17	34,429	1,082,430	0.03%
2023-03-13	Claro Advisors LLC	new	-	215,415	215,415	0.07%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	1,140	158,838,000	170,697,000	0.19%
2023-03-10	MATHER GROUP, LLC.	new	-	359,453	359,453	0.01%
2023-03-07	Nordwand Advisors, LLC	new	-	4,560,810	4,560,810	0.57%
2023-03-06	Aldebaran Financial Inc.	reduced	-5.11	18,969	229,969	0.25%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-17.82	-4,492,000	91,610,000	0.46%
2023-03-03	TIAA, FSB	reduced	-4.23	144,815	1,453,820	0.01%
2023-03-02	LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	new	-	269,611	269,611	-%
2023-03-01	Lakewood Asset Management LLC	new	-	1,362,000	1,362,000	1.10%

Latest Funds Activity

Are funds buying CARR calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CARR

No. of Funds

CARR Alerts

2 major insider sales recently.

Carrier Global News

Schedule 13G FIlings of Carrier Global

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	capital international investors	7.1%	59,000,214	SC 13G/A
Feb 13, 2023	capital world investors	9.8%	81,933,352	SC 13G/A
Feb 13, 2023	capital research global investors	9.3%	78,167,940	SC 13G/A
Feb 09, 2023	vanguard group inc	11.12%	93,020,286	SC 13G/A
Jan 31, 2023	blackrock inc.	7.0%	58,595,207	SC 13G/A
May 10, 2022	capital world investors	10.1%	86,068,361	SC 13G/A
Feb 11, 2022	capital international investors	6.5%	56,082,639	SC 13G
Feb 11, 2022	capital research global investors	8.0%	69,450,096	SC 13G/A
Feb 11, 2022	capital world investors	7.7%	66,568,066	SC 13G
Feb 09, 2022	vanguard group inc	10.54%	91,336,281	SC 13G/A

CARR Fair Value

Carrier Global fair value in different scenarios

The table shows the Fair Value estimates for Carrier Global for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	33.04 -24.77%	46.24 5.28%	61.82 40.76%	87.17 98.47%	107.73 145.29%
Current Inflation	30.67 -30.17%	42.03 -4.30%	54.96 25.14%	76.24 73.59%	93.37 112.59%
Very High Inflation	27.72 -36.89%	36.93 -15.92%	46.88 6.74%	63.60 44.81%	76.92 75.14%

Historical Carrier Global Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Carrier Global

View All Filings

Date Filed	Form Type	Document
Mar 07, 2023	ARS	ARS
Mar 07, 2023	DEF 14A	DEF 14A
Mar 07, 2023	DEFA14A	DEFA14A
Mar 03, 2023	4	Insider Trading
Feb 24, 2023	4/A	Insider Trading
Feb 14, 2023	4	Insider Trading
Feb 14, 2023	4	Insider Trading
Feb 14, 2023	4	Insider Trading
Feb 14, 2023	4	Insider Trading
Feb 14, 2023	4	Insider Trading

Latest Insider Trading transactions for CARR

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-02	Villeneuve Nadia	back to issuer	-121,659	45.48	-2,675	senior vp & chro
2023-03-02	Villeneuve Nadia	acquired	121,682	18.81	6,469	senior vp & chro
2023-03-02	Villeneuve Nadia	sold	-933,445	45.4497	-20,538	senior vp & chro
2023-02-13	Nelson Christopher John	back to issuer	-8,296,460	45.42	-182,661	president, hvac
2023-02-13	Nelson Christopher John	acquired	8,296,490	20.95	396,014	president, hvac
2023-02-13	Nelson Christopher John	sold	-9,665,450	45.3026	-213,353	president, hvac
2023-02-10	Nelson Christopher John	sold (taxes)	-2,644	44.83	-59.00	president, hvac
2023-02-10	Nelson Christopher John	acquired	-	-	138	president, hvac
2023-02-10	Gitlin David L.	sold (taxes)	-6,724	44.83	-150	chairman and ceo
2023-02-10	O'Connor Kevin J.	acquired	-	-	310	senior vp & clo

About Carrier Global

David L. Gitlin

https://www.carrier.com/

58000

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers. Its products include air conditioners, heating systems, controls, and aftermarket components, as well as aftermarket repair and maintenance services and building automation solutions. The Refrigeration segment offers transport refrigeration and monitoring products and services, as well as digital solutions for trucks, trailers, shipping containers, intermodal applications, food retail, and warehouse cooling; and commercial refrigeration solutions, such as refrigerated cabinets, freezers, systems, and controls. The Fire & Security segment provides various residential, commercial, and industrial technologies, including fire, flame, gas, smoke, and carbon monoxide detection; portable fire extinguishers; fire suppression systems; intruder alarms; access control systems; video management systems; and electronic controls. Its other fire and security service offerings comprise audit, design, installation, and system integration, as well as aftermarket maintenance and repair and monitoring services. The company offers its products under the Autronica, Det-Tronics, Edwards, Fireye, GST, Kidde, LenelS2, Marioff, Onity, and Supra; Carrier, Automated Logic, Bryant, CIAT, Day & Night, Heil, NORESCO, and Riello; and Carrier Commercial Refrigeration, Carrier Transicold, and Sensitech brands. The company was incorporated in 2019 and is headquartered in Palm Beach Gardens, Florida.

CARR Income Statement

2022-09-30

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net sales
Net sales	$ 5,451	$ 5,341	$ 15,316	$ 15,480
Costs and expenses
Research and development	(143)	(123)	(390)	(369)
Selling, general and administrative	(624)	(748)	(1,839)	(2,304)
Total Costs and expenses	(4,741)	(4,611)	(13,328)	(13,539)
Equity method investment net earnings	63	76	222	201
Other income (expense), net	753	22	1,872	40
Operating profit	1,526	828	4,082	2,182
Non-service pension (expense) benefit	0	14	(2)	51
Interest (expense) income, net	(56)	(74)	(165)	(238)
Income from operations before income taxes	1,470	768	3,915	1,995
Income tax (expense) benefit	(138)	(288)	(609)	(626)
Net income from operations	1,332	480	3,306	1,369
Less: Non-controlling interest in subsidiaries' earnings from operations	20	11	42	29
Net income attributable to common shareowners	$ 1,312	$ 469	$ 3,264	$ 1,340
Earnings per share
Basic (in dollars per share)	$ 1.56	$ 0.54	$ 3.86	$ 1.54
Diluted (in dollars per share)	$ 1.53	$ 0.53	$ 3.78	$ 1.50
Weighted-average number of shares outstanding
Basic (in shares)	839.6	867.6	846.1	868.6
Diluted (in shares)	856.5	892.0	864.3	890.9
Product
Net sales
Net sales	$ 4,891	$ 4,510	$ 13,723	$ 12,958
Costs and expenses
Cost of products and services sold	(3,569)	(3,172)	(9,930)	(9,131)
Service
Net sales
Net sales	560	831	1,593	2,522
Costs and expenses
Cost of products and services sold	$ (405)	$ (568)	$ (1,169)	$ (1,735)

CARR Balance Sheet

2022-09-30

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 2,985	$ 2,987
Accounts receivable, net	3,003	2,403
Contract assets, current	666	503
Inventories, net	2,664	1,970
Assets held for sale	0	3,168
Other assets, current	422	376
Total current assets	9,740	11,407
Future income tax benefits	619	563
Fixed assets, net	2,055	1,826
Operating lease right-of-use assets	625	640
Intangible assets, net	1,309	509
Goodwill	9,621	9,349
Pension and post-retirement assets	23	43
Equity method investments	1,151	1,593
Other assets	207	242
Total Assets	25,350	26,172
Liabilities and Equity
Accounts payable	2,817	2,334
Accrued liabilities	2,537	2,561
Contract liabilities, current	440	415
Liabilities held for sale	0	1,134
Current portion of long-term debt	219	183
Total current liabilities	6,013	6,627
Long-term debt	8,670	9,513
Future pension and post-retirement obligations	431	380
Future income tax obligations	522	354
Operating lease liabilities	514	527
Other long-term liabilities	1,737	1,677
Total Liabilities	17,887	19,078
Commitments and contingent liabilities (Note 19)
Equity
Common stock	9	9
Treasury stock	(1,791)	(529)
Additional paid-in capital	5,463	5,411
Retained earnings	5,876	2,865
Accumulated other comprehensive loss	(2,405)	(989)
Non-controlling interest	311	327
Total Equity	7,463	7,094
Total Liabilities and Equity	$ 25,350	$ 26,172