Carrier Global Corporation (CARR) AI Stock Analysis

Carrier Global Corporation specializes in technologies essential for modern living, including heating, ventilating, and air conditioning (HVAC), refrigeration, fire safety, security systems, and building automation solutions. It operates through three primary segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides heating, cooling, and ventilation equipment, controls, building automation, and aftermarket maintenance services for residential and commercial customers. The Refrigeration segment delivers transport refrigeration, digital logistics monitoring, and commercial refrigeration systems for food retail and warehouses. The Fire & Security segment supplies detection, suppression, and security technologies across residential, commercial, and industrial settings.

Over the past five fiscal years, Carrier achieved a revenue CAGR of 4.5%, though annual performance has fluctuated. Revenue dropped 16.1% in FY2022 to $17.29B before rebounding 27.8% in FY2023 to $22.10B. In FY2024, revenue reached $22.49B with net income of $5.60B and a net margin of 24.9%. Revenue then fell 3.3% in FY2025 to $21.75B, with net income declining to $1.48B and operating margin narrowing to 8.8%. In the trailing twelve months, revenue was $22.11B with an EPS of $1.38. For the latest quarter ended June 30, 2026, revenue increased 3.9% year-over-year, while quarterly earnings declined 11.8%.

As of June 30, 2026, Carrier held $1.34B in cash and short-term investments against $12.39B in total debt, leaving net debt at $11.05B. Shareholders' equity stood at $13.15B, resulting in a debt-to-equity ratio of 0.94 and a current ratio of 1.02. In FY2025, operating cash flow was $2.09B and free cash flow was $1.70B. Capital allocation during FY2025 included $392.0M in capital expenditures, $772.0M in dividends paid, and $2.89B directed toward share buybacks.

At $55.00 per share, Carrier has a market capitalization of $45.34B and an enterprise value of $56.47B. The stock trades at a trailing P/E of 39.9x, which is above the 28.4x median of its S&P 500 Industrials peers. However, its forward P/E of 16.3x and price-to-sales of 2.1x compare favorably to peer medians of 20.7x and 3.3x, respectively. The company's EV/EBITDA stands at 18.3x versus the peer median of 17.2x. Over the past year, the stock returned -1.6%, trailing the S&P 500 return of 16.8%.

Carrier pays a forward annual dividend of $0.96 per share, representing a dividend yield of 1.75% and a payout ratio of 39.3%. The company has paid dividends for 7 consecutive years, posting a 5-year annualized dividend growth rate of 19.2%. Its last ex-dividend date is October 29, 2026.

Wall Street coverage consists of 11 Strong Buy, 2 Buy, and 13 Hold ratings, with zero Sell or Strong Sell ratings. The mean price target of $73.44 is 33.5% above the last close of $55.00. For the fiscal year ending December 31, 2026, analysts project revenue of $23.32B and EPS of $2.88, reflecting 11.2% EPS growth. Over the last four quarters, Carrier has exceeded EPS estimates 3 times. The next earnings date is October 29, 2026.

This page is an AI-written research summary of Carrier Global Corporation (CARR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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