Carrier Global
Financial ratios & Valuation

Forward Multiples (2025 – 2027)

202520262027
Price/Earnings ratio
23.7620.7816.75
Price/Sales ratio
2.292.172.12
Earnings per Share (EPS)
$2.81$3.22$3.99

Historical Multiples (2017 – 2023)

2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
8.473.804.9116.4928.289.8435.6517.8710.70
Price/Sales ratio
0.580.540.551.872.281.702.172.581.21
Price/Book Value ratio
0.720.740.735.226.954.485.544.226.09
Price/Cash Flow ratio
4.955.055.1919.3121.0319.9518.4541.5812.25
Price/Free Cash Flow ratio
5.865.805.9023.6824.8625.0222.4964.5214.79
Price/Earnings Growth ratio
N/A0.03-0.21-2.68-1.750.08-0.570.09-1.44
Dividend Yield
N/AN/AN/A0.42%0.88%1.46%1.28%1.15%0.78%
Profitability Indicator Ratios
Gross Profit Margin
29.10%29.44%29.12%29.26%29.01%26.75%28.88%27.99%29.13%
Operating Profit Margin
17.00%19.22%13.38%12.04%12.83%11.81%10.39%10.73%12.43%
Pretax Profit Margin
17.14%20.31%14.35%16.35%11.64%21.01%9.43%21.65%15.35%
Net Profit Margin
6.88%14.45%11.37%11.35%8.07%17.30%6.10%14.49%11.36%
Effective Tax Rate
58.51%27.92%19.34%29.73%29.12%16.49%30.90%28.77%29.43%
Return on Assets
5.58%12.57%9.44%7.89%6.35%13.54%4.10%8.63%8.26%
Return On Equity
8.51%19.64%15.00%31.70%24.58%45.55%15.54%28.52%28.14%
Return on Capital Employed
17.08%21.05%13.88%10.51%13.53%12.03%8.85%8.62%12.02%
Liquidity Ratios
Current Ratio
N/AN/AN/A1.66N/AN/AN/A1.070.83
Quick Ratio
1.051.061.031.341.421.202.400.821.38
Cash ratio
0.310.250.210.600.450.581.450.210.53
Days of Sales Outstanding
54.4662.5062.0671.8651.4560.2346.0341.5361.66
Days of Inventory outstanding
44.1937.2736.8648.1549.1364.4251.4955.9842.50
Operating Cycle
98.6599.7898.92120.02100.59124.6597.5297.52110.30
Days of Payables Outstanding
52.2553.1747.0757.2358.2169.1363.6859.8652.15
Cash Conversion Cycle
46.3946.6151.8562.7942.3755.5233.8437.6652.58
Debt Ratios
Debt Ratio
0.000.010.010.400.370.330.430.300.38
Debt Equity Ratio
0.010.020.021.631.431.131.640.841.53
Long-term Debt to Capitalization
0.000.000.000.610.580.520.620.410.60
Total Debt to Capitalization
0.010.020.020.620.580.530.620.450.60
Interest Coverage Ratio
N/AN/AN/A6.27N/AN/AN/A4.233.13
Cash Flow to Debt Ratio
13.277.166.410.160.230.190.180.120.19
Company Equity Multiplier
1.521.561.584.013.863.363.782.733.94
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.110.100.100.090.100.080.110.060.10
Free Cash Flow / Operating Cash Flow Ratio
0.840.870.870.810.840.790.820.640.83
Cash Flow Coverage Ratio
13.277.166.410.160.230.190.180.120.19
Short Term Coverage Ratio
91.2113.78.448.8512.2212.4551.110.7110.54
Dividend Payout Ratio
N/AN/AN/A6.96%25.06%14.40%45.96%19.26%13.11%