Carrier Global Corporation (CARR) Key Metrics
CARR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $45.34B
- Enterprise value
- $56.47B
- P/E (TTM)
- 39.9 10-yr median 22.9
- Forward P/E
- 16.3
- PEG ratio
- 1.07
- Price / sales
- 2.1 10-yr median 2.1
- Price / book
- 3.5 10-yr median 4.9
- EV / EBITDA
- 18.3 10-yr median 16.6
- Dividend yield
- 1.75% $0.96 a year
- Beta
- 1.29
CARR key metrics, 2017–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCARR valuation Price multiples at each fiscal year-end price.
CARR returns How much profit the business earns on the capital it uses.
CARR per-share figures Results divided by the shares outstanding at year-end.
CARR financial health Debt, liquidity and how easily interest is covered.
CARR efficiency & capital use Working capital cycle and where the cash goes.
CARR valuation history
CARR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CARR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CARR cash returned to shareholders
CARR price vs earnings per share
CARR key metrics
2017–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Valuation | |||||||||
| Market capitalization | $44.74B | $62.23B | $49.00B | $35.52B | $48.29B | $33.20B | — | — | — |
| Enterprise value | $55.85B | $70.97B | $53.78B | $41.38B | $55.53B | $41.12B | — | — | — |
| P/E ratio | 30.1 | 11.1 | 34.0 | 10.1 | 29.0 | 16.8 | — | — | — |
| Price / sales | 2.1 | 2.8 | 2.2 | 2.1 | 2.3 | 1.9 | — | — | — |
| Price / book | 3.2 | 4.4 | 5.6 | 4.6 | 7.1 | 5.3 | — | — | — |
| Price / free cash flow | 26.4 | — | 22.6 | 25.6 | 25.5 | 24.1 | — | — | — |
| Price / operating cash flow | 21.4 | 110.5 | 18.8 | 20.4 | 21.6 | 19.6 | — | — | — |
| EV / sales | 2.6 | 3.2 | 2.4 | 2.4 | 2.7 | 2.4 | — | — | — |
| EV / EBITDA | 15.8 | 17.4 | 23.4 | 9.3 | 20.6 | 11.8 | — | — | — |
| EV / free cash flow | 32.9 | — | 24.8 | 29.8 | 29.3 | 29.8 | — | — | — |
| Earnings yield | 3.3% | 9.0% | 2.9% | 9.9% | 3.4% | 6.0% | — | — | — |
| Free cash flow yield | 3.8% | 0.1% | 4.4% | 3.9% | 3.9% | 4.2% | — | — | — |
| Dividend yield | 1.7% | 1.1% | 1.3% | 1.4% | 0.9% | 0.4% | — | — | — |
| Shareholder yield (dividends + buybacks) | 8.2% | 4.2% | 1.4% | 5.3% | 2.0% | 0.4% | — | — | — |
| Share price at fiscal year-end | $52.84 | $68.26 | $57.45 | $41.25 | $54.24 | $37.72 | — | — | — |
| Per share | |||||||||
| Revenue per share | $25.68 | $24.66 | $25.91 | $20.07 | $23.15 | $19.83 | $21.48 | $21.67 | $20.41 |
| Earnings per share | $1.75 | $6.15 | $1.69 | $4.10 | $1.87 | $2.25 | $2.44 | $3.13 | $1.41 |
| Operating cash flow per share | $2.47 | $0.62 | $3.06 | $2.02 | $2.51 | $1.92 | $2.38 | $2.35 | $2.40 |
| Free cash flow per share | $2.00 | $0.05 | $2.54 | $1.61 | $2.13 | $1.57 | $2.10 | $2.05 | $2.03 |
| Cash per share | $1.84 | $4.35 | $11.55 | $4.09 | $3.36 | $3.54 | $1.10 | $1.29 | $1.52 |
| Book value per share | $16.30 | $15.44 | $10.17 | $9.01 | $7.60 | $7.10 | $16.28 | $15.95 | $16.51 |
| Tangible book value per share | −$9.48 | −$7.63 | $0.25 | −$4.13 | −$3.47 | −$5.59 | $3.62 | $3.27 | $3.50 |
| Dividends per share | $0.91 | $0.73 | $0.73 | $0.59 | $0.47 | $0.16 | $0.16 | $0.16 | $0.16 |
| Capex per share | $0.46 | $0.57 | $0.51 | $0.41 | $0.39 | $0.35 | $0.28 | $0.30 | $0.37 |
| Debt per share | $14.96 | $13.94 | $17.15 | $10.88 | $11.48 | $12.53 | $0.79 | $0.33 | $0.18 |
| Shares outstanding | 846.7M | 911.7M | 853.0M | 861.2M | 890.3M | 880.2M | 866.2M | 872.8M | 872.8M |
| Change in shares outstanding | −7.1% | +6.9% | −1.0% | −3.3% | +1.1% | +1.6% | −0.8% | 0.0% | — |
| Returns & profitability | |||||||||
| Return on equity (ROE) | 10.6% | 49.2% | 17.5% | 48.7% | 25.6% | 19.5% | 15.1% | 19.3% | 8.5% |
| Return on invested capital (ROIC) | 6.9% | 6.2% | 17.0% | 11.6% | 13.3% | 15.5% | 14.9% | 19.9% | 11.4% |
| Return on assets (ROA) | 4.0% | 16.0% | 4.9% | 13.5% | 6.5% | 8.3% | 9.6% | 12.5% | 5.6% |
| Return on tangible assets | 9.7% | 34.2% | 5.9% | 23.9% | 10.2% | 14.2% | 18.5% | 25.6% | 11.5% |
| Free cash flow margin | 7.8% | 0.2% | 9.8% | 8.0% | 9.2% | 7.9% | 9.8% | 9.5% | 9.9% |
| Income quality (OCF / net income) | 1.41 | 0.10 | 1.81 | 0.49 | 1.34 | 0.85 | 0.97 | 0.75 | 1.71 |
| Financial health | |||||||||
| Total debt | $12.67B | $12.71B | $14.63B | $9.37B | $10.22B | $11.03B | $682.0M | $287.0M | $158.0M |
| Cash & short-term investments | $1.55B | $3.97B | $9.85B | $3.52B | $2.99B | $3.12B | $952.0M | $1.13B | $1.32B |
| Net debt | $11.11B | $8.74B | $4.77B | $5.85B | $7.24B | $7.92B | −$270.0M | −$842.0M | −$1.17B |
| Debt / equity | 0.92 | 0.90 | 1.69 | 1.21 | 1.51 | 1.76 | 0.05 | 0.02 | 0.01 |
| Debt / assets | 0.34 | 0.34 | 0.45 | 0.36 | 0.39 | 0.44 | 0.03 | 0.01 | 0.01 |
| Net debt / EBITDA | 3.15 | 2.14 | 2.08 | 1.31 | 2.68 | 2.27 | −0.10 | −0.20 | −0.32 |
| Current ratio | 1.20 | 1.25 | 2.80 | 1.64 | 1.72 | 1.67 | 1.33 | 1.37 | 1.41 |
| Quick ratio | 0.85 | 0.96 | 2.54 | 1.20 | 1.42 | 1.35 | 1.04 | 1.06 | 1.05 |
| Interest coverage | 5.5 | 3.6 | 10.9 | 6.3 | 8.3 | 10.3 | 33.2 | 43.3 | 13.8 |
| Working capital | $1.42B | $2.00B | $12.60B | $3.85B | $4.78B | $3.41B | $1.49B | $1.64B | $1.75B |
| Invested capital | $24.92B | $22.82B | $13.45B | $13.61B | $14.00B | $14.17B | $13.83B | $13.07B | $13.25B |
| Tangible asset value | −$7.70B | −$6.64B | $540.0M | −$3.24B | −$2.76B | −$4.60B | $3.47B | $3.21B | $3.42B |
| Net current asset value | −$14.53B | −$13.12B | −$4.24B | −$8.13B | −$7.67B | −$9.99B | −$2.01B | −$1.36B | −$1.20B |
| Graham number | $25.36 | $46.22 | $19.66 | $28.84 | $17.88 | $18.97 | $29.91 | $33.52 | $22.85 |
| Graham net-net per share | −$21.60 | −$17.44 | −$13.47 | −$12.36 | −$14.52 | −$13.64 | −$4.44 | −$3.70 | −$3.57 |
| Capital allocation | |||||||||
| Dividends paid | $772.0M | $670.0M | $620.0M | $509.0M | $417.0M | $138.0M | $138.0M | $138.0M | $138.0M |
| Share buybacks (net) | $2.89B | $1.94B | $62.0M | $1.38B | $527.0M | $0 | — | — | $286.0M |
| Dividend payout ratio | 52.0% | 12.0% | 43.1% | 14.4% | 25.1% | 7.0% | 6.5% | 5.0% | 11.2% |
| Dividends + buybacks / free cash flow | 215.9% | — | 31.5% | 135.9% | 49.9% | 10.0% | 7.6% | 7.7% | 23.9% |
| Capex / revenue | 1.8% | 2.3% | 2.0% | 2.0% | 1.7% | 1.8% | 1.3% | 1.4% | 1.8% |
| Capex / operating cash flow | 18.8% | 92.2% | 16.8% | 20.3% | 15.4% | 18.4% | 11.8% | 12.8% | 15.5% |
| Capex / depreciation | 0.31 | 0.42 | 0.89 | 0.93 | 1.02 | 0.93 | 0.73 | 0.74 | 0.88 |
| Stock-based compensation / revenue | 0.3% | 0.4% | 0.3% | 0.4% | 0.4% | 0.4% | 0.3% | 0.2% | 0.2% |
| R&D / revenue | 2.9% | 3.1% | 2.8% | 2.4% | 2.4% | 2.4% | 2.2% | 2.1% | 2.0% |
| SG&A / revenue | 14.2% | 14.2% | 13.6% | 11.5% | 15.1% | 16.2% | 14.8% | 14.2% | 14.5% |
| Efficiency | |||||||||
| Days sales outstanding | 44.4 | 38.4 | 45.0 | 66.3 | 56.2 | 70.9 | 64.6 | 56.9 | 54.5 |
| Days of inventory on hand | 54.1 | 45.6 | 51.8 | 64.8 | 44.9 | 43.8 | 37.3 | 39.5 | 44.2 |
| Days payables outstanding | 58.4 | 54.6 | 61.7 | 72.6 | 53.3 | 53.8 | 50.4 | 51.3 | 52.3 |
| Cash conversion cycle (days) | 40.1 | 29.3 | 35.1 | 58.4 | 47.8 | 60.9 | 51.5 | 45.1 | 46.4 |
| Receivables turnover | 8.22 | 9.51 | 8.11 | 5.51 | 6.50 | 5.15 | 5.65 | 6.41 | 6.70 |
| Payables turnover | 6.25 | 6.68 | 5.91 | 5.03 | 6.85 | 6.79 | 7.24 | 7.11 | 6.99 |
| Inventory turnover | 6.74 | 8.01 | 7.04 | 5.64 | 8.13 | 8.34 | 9.79 | 9.23 | 8.26 |
| Asset turnover | 0.58 | 0.64 | 0.75 | 0.66 | 0.80 | 0.74 | 0.84 | 0.87 | 0.81 |
| Average receivables | $2.65B | $2.37B | $2.73B | $3.14B | $3.17B | $3.39B | $3.29B | $2.95B | $2.66B |
| Average payables | $2.58B | $2.47B | $2.66B | $2.58B | $2.13B | $1.82B | $1.82B | $1.88B | $1.81B |
| Average inventory | $2.39B | $2.06B | $2.23B | $2.31B | $1.80B | $1.48B | $1.35B | $1.45B | $1.53B |
| Intangibles / total assets | 58.7% | 56.2% | 25.8% | 43.4% | 37.7% | 44.5% | 48.9% | 50.9% | 51.7% |
Computed from CARR's annual financial statements (latest annual report filed February 5, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CARR valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Carrier traded at 30.1 times earnings, against a 9-year median of 22.9. Based on the latest twelve months, the trailing P/E is 39.9 and the forward P/E is 16.3. Carrier earned a return on equity of 10.6% and a return on invested capital of 6.9% in fiscal 2025. It ended the year with $12.7 billion of debt and $1.6 billion in cash and short-term investments, net debt of $11.1 billion. It returned $3.7 billion to shareholders: $772.0 million in dividends and $2.9 billion in share buybacks, 216% of free cash flow.
See the CARR income statement, the CARR chart for price history, or the CARR stock overview for the latest quote and news.
CARR key metrics FAQ
What is Carrier's P/E ratio?
Carrier's trailing P/E ratio is 39.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 16.3. At the end of fiscal 2025 it was 30.1, compared with a 9-year median of 22.9.
What is Carrier's EV/EBITDA?
Carrier's enterprise value was 15.8 times EBITDA at the end of fiscal 2025 (enterprise value $55.9 billion, EBITDA $3.5 billion); the current EV/EBITDA is 18.3.
What is Carrier's return on equity?
Carrier's return on equity (ROE) was 10.6% in fiscal 2025: net income of $1.5 billion on average shareholders' equity of $13.9 billion.
What is Carrier's ROIC?
Carrier's return on invested capital was 6.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Carrier have?
Carrier had total debt of $12.7 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.92 and $11.1 billion of net debt (3.15 times EBITDA).
What is Carrier's dividend yield?
Carrier's forward dividend yield is 1.75%. Carrier paid $772.0 million in dividends in fiscal 2025 ($0.91 per share), a payout ratio of 52.0%.
Does Carrier buy back its shares?
Yes. Carrier spent $2.9 billion on net share repurchases in fiscal 2025 Shares outstanding changed −7.1% over the year, to 846.7M..
What is Carrier's free cash flow yield?
Carrier generated $1.7 billion of free cash flow in fiscal 2025, a free cash flow yield of 3.8% on its market value at year-end ($44.7 billion).
What is Carrier's current ratio?
Carrier's current ratio was 1.20 at the end of fiscal 2025: current assets were 1.20 times current liabilities.