Carrier Global manufactures heating, ventilation, and air conditioning, refrigeration, and fire and security products. The HVAC business serves both residential and commercial markets (HVAC segment sales mix is 60% commercial and 40% residential). Carrier's refrigeration segment consists of its transportation refrigeration, Sensitech supply chain monitoring, and commercial refrigeration businesses. The firm's fire and security business manufactures fire detection and suppression, access controls, and intrusion detection products. In April 2023, Carrier announced that it plans to divest its fire and security and commercial refrigeration businesses. The firm also acquired Germany-based Viessmann for approximately $13 billion.

Financial Strength

6/10

Name	Current	Vs Industry
Cash-To-Debt	0.68
Equity-to-Asset	0.26
Debt-to-Equity	1.69
Debt-to-EBITDA	4.91
Interest Coverage	6.82
Piotroski F-Score	6/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	2.88	Distress Grey Safe
Beneish M-Score	-3.06	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

6/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	9.3
	3-Year EBITDA Growth Rate	-4
	3-Year EPS without NRI Growth Rate	10.5
	3-Year FCF Growth Rate	16.9
	3-Year Book Growth Rate	12.8
	Future 3-5Y EPS without NRI Growth Rate	9.2
	Future 3-5Y Total Revenue Growth Rate	4.9

Momentum Rank

10/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	84.53
	9-Day RSI	73.21
	14-Day RSI	66.14
	6-1 Month Momentum %	24.01
	12-1 Month Momentum %	41.55

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	2.73
	Quick Ratio	2.4
	Cash Ratio	1.45
	Days Inventory	60.02
	Days Sales Outstanding	48.19
	Days Payable	66.63

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	1.24
	Dividend Payout Ratio	0.43
	3-Year Dividend Growth Rate	49.2
	Forward Dividend Yield %	1.26
	5-Year Yield-on-Cost %	1.24
	3-Year Average Share Buyback Ratio	1.1
	Shareholder Yield %	-1.37

Profitability Rank

7/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	28.89
	Operating Margin %	11.17
	Net Margin %	6.11
	FCF Margin %	8.8
	ROE %	16.56
	ROA %	4.88
	ROIC %	9.85
	ROC (Joel Greenblatt) %	74.04
	ROCE %	11.46
	Years of Profitability over Past 10-Year	7

GF Value Rank

5/10

	Name	Current	Vs Industry		Vs History
	PE Ratio	38.29
	Forward PE Ratio	21.21
	PE Ratio without NRI	27.75
	Price-to-Owner-Earnings	26.64
	PS Ratio	2.36
	PB Ratio	4.72
	Price-to-Free-Cash-Flow	24.4
	Price-to-Operating-Cash-Flow	20.09
	EV-to-EBIT	28.61
	EV-to-Forward-EBIT	17.59
	EV-to-EBITDA	23.42
	EV-to-Forward-EBITDA	14.49
	EV-to-Revenue	3.17
	EV-to-Forward-Revenue	2.66
	EV-to-FCF	25.24
	Earnings Yield (Greenblatt) %	3.5
	FCF Yield %	3.92

GF Value: $55.16

CARR

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