Carrier Global (CARR)
Industrials · NYSE · US
Fundamentals
Valuation and ratings
Carrier Global trades at $69.34, which is 60% above the $27.74 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 39 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 46.2 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Carrier Global
Carrier Global Corporation provides intelligent climate and energy solutions in the United States, Europe, the Asia Pacific, and internationally. It operates through four segments: Climate Solutions Americas; Climate Solutions Europe; Climate Solutions Asia Pacific, Middle East & Africa; and Climate Solutions Transportation. The company provides air conditioners, heating systems, heat pumps, home and building energy management systems, automation systems, aftermarket components, and repair and maintenance and rental services, as well as modernization and upgrades to meet the heating, cooling, and ventilation needs of residential and commercial customers. It also offers transport refrigeration and monitoring products, services, and digital solutions for trucks, trailers, shipping containers, and intermodal and rail applications. The company offers its products under the Carrier, Viessmann, Toshiba, Automated Logic, Bryant, CIAT, Day & Night, Heil, NORESCO, Carrier Transicold, and Sensitech brands. The company was incorporated in 2019 and is headquartered in Palm Beach Gardens, Florida.
CARR passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
15 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Capital Research Global, Capital Research Global Investors$6.55B · 1.0% of book
- Dodge & Cox, DODGE & COX$1.50B · 0.8% of book
- Ken Fisher, Fisher Asset Management, LLC$733.71M · 0.3% of book
- Ken Griffin, CITADEL ADVISORS LLC$203.38M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$137.32M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Carrier Global (CARR) undervalued?
Against our discounted cash flow estimate of $27.74, CARR at $69.34 is 60% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own CARR?
15 of the institutions we track reported a position in CARR in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is CARR's P/E ratio?
CARR trades at 46.2 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for CARR, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.