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Carrier Global has the Financial Strength Rank of 5.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.Carrier Global's Interest Coverage for the quarter that ended in Mar. 2024 was 2.76. Carrier Global's debt to revenue ratio for the quarter that ended in Mar. 2024 was 0.70. As of today, Carrier Global's Altman Z-Score is 2.22.
For the Building Products & Equipment subindustry, Carrier Global's Financial Strength, along with its competitors' market caps and Financial Strength data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Construction industry and Industrials sector, Carrier Global's Financial Strength distribution charts can be found below:
* The bar in red indicates where Carrier Global's Financial Strength falls into.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Carrier Global's Interest Expense for the months ended in Mar. 2024 was $-180 Mil. Its Operating Income for the months ended in Mar. 2024 was $496 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2024 was $16,152 Mil.
Carrier Global's Interest Coverage for the quarter that ended in Mar. 2024 is
Interest Coverage | = | -1 | * | Operating Income (Q: Mar. 2024 ) | / | Interest Expense (Q: Mar. 2024 ) |
= | -1 | * | 496 | / | -180 | |
= | 2.76 |
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Carrier Global's Debt to Revenue Ratio for the quarter that ended in Mar. 2024 is
Debt to Revenue Ratio | = | Total Debt (Q: Mar. 2024 ) | / | Revenue | ||
= | (Short-Term Debt & Capital Lease Obligation | + | Long-Term Debt & Capital Lease Obligation) | / | Revenue | |
= | (1248 | + | 16152) | / | 24728 | |
= | 0.70 |
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Carrier Global has a Z-score of 2.22, indicating it is in Grey Zones. This implies that Carrier Global is in some kind of financial stress. If it is below 1.81, the company may faces bankrupcy risk.
Warning Sign:
Altman Z-score of 2.22 is in the grey area. This implies that the company is under some kind of financial stress. If it is below 1.8, the company may face bankruptcy risk.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Carrier Global (NYSE:CARR) Financial Strength Explanation
The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.
Carrier Global has the Financial Strength Rank of 5.
Thank you for viewing the detailed overview of Carrier Global's Financial Strength provided by GuruFocus.com. Please click on the following links to see related term pages.
Ajay Agrawal | officer: VP, Strategy & Services | 13995 PASTEUR BOULEVARD, PALM BEACH GARDENS FL 33418 |
Kyle Crockett | officer: Vice President, Controller | 13995 PASTEUR BOULEVARD, PALM BEACH GARDENS FL 33418 |
Jurgen Timperman | officer: President, Fire & Security | 13995 PASTEUR BOULEVARD, PALM BEACH GARDENS FL 33418 |
Kevin J. O'connor | officer: VP, Chief Legal Officer | 13995 PASTEUR BOULEVARD, PALM BEACH GARDENS FL 33418 |
Susan N Story | director | ONE ENERGY PLACE, PENSCOLA FL 32520 |
Timothy N White | officer: President, Refrigeration | 13995 PASTEUR BOULEVARD, PALM BEACH GARDENS FL 33418 |
Christopher John Nelson | officer: President, HVAC | 13995 PASTEUR BOULEVARD, PALM BEACH GARDENS FL 33418 |
David Appel | officer: President, Refrigeration | 13995 PASTEUR BOULEVARD, PALM BEACH GARDENS GA 33418 |
Beth Wozniak | director | 555 WAYZATA BLVD. SUITE 600, MINNEAPOLIS MN 55419 |
Patrick P. Goris | officer: Senior Vice President & CFO | 1201 SOUTH SECOND STREET, MILWAUKEE WI 53204 |
John J Greisch | director | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
David L. Gitlin | officer: President and CEO | UNITED TECHNOLOGIES CORPORATION, 10 FARM SPRINGS ROAD, FARMINGTON CT 06032 |
Jean Pierre Garnier | director | UNITED TECHNOLOGIES CORP, 10 FARM SPRINGS ROAD, FARMINGTON CT 06032 |
Virginia M Wilson | director | WYNDHAM WORLDWIDE CORPORATION, 7 SYLVAN WAY, PARSIPPANY NJ 07054 |
Nadia Villeneuve | officer: See Remarks | 13995 PASTEUR BOULEVARD, PALM BEACH GARDENS FL 33418 |
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