Carrier Global (CARR) stock
Industrials · Building Products
Carrier Global (CARR) is a Building Products company in the Industrials sector, headquartered in Palm Beach Gardens, Florida. As of October 23, 2026, CARR closed at $56.24, a market capitalization of $46.36 billion, the 245th largest company in the S&P 500. Over the last twelve months it generated $22.11 billion in revenue (+4% year over year) and $1.93 billion in free cash flow. The stock trades at 40.8x trailing earnings and 17.0x forward earnings.
- 1-year total return: -0.0% (dividends reinvested)
- 5-year return: +2.0% a year
- 52-week range: $50.24 – $76.76
- Gross margin 24.7%, operating margin 13.1%
- Dividend yield: 1.71%, 5 straight years of increases
- FI Handbook report card: C across 10 metrics
- 43rd largest of 83 Industrials stocks in the S&P 500
CARR price chart
1Y price change: -1.5% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| CARR | +2.1% | +7.7% | -0.0% | +6.5% | +2.0% | — | +28.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2020.
CARR key statistics
- Market cap
- $46.4B
- #245 in S&P 500
- P/E (TTM)
- 40.8x
- Forward P/E
- 17.0x
- EPS (TTM)
- $1.38
- Revenue (TTM)
- $22.1B
- +4%
- Free cash flow
- $1.9B
- Gross margin
- 24.7%
- Operating margin
- 13.1%
- Return on equity
- 9.0%
- Dividend yield
- 1.71%
- 52-week range
- $50.24 – $76.76
- Beta
- 1.29
- Price / sales
- 2.1x
- EV / EBITDA
- 18.7x
- Debt / equity
- 0.92x
- Employees
- 47,000
CARR report card
CTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth3.9%D
- Gross margin24.7%D
- Operating margin13.1%C
- FCF margin8.7%C
- Return on equity9.0%D
- Net debt / EBITDA3.6xF
- Forward P/E17.0xB
- PEG ratio1.1xB
- Shareholder yield7.9%A
- Share count change / yr-0.4%C
Carrier Global financials
Revenue went from $18.9B in fiscal 2018 to $21.7B in fiscal 2025, growing 2.0% a year.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $18.9B | $18.6B | $17.5B | $20.6B | $17.3B | $19.0B | $22.5B | $21.7B |
| Gross profit | — | — | — | — | $4.3B | $5.2B | $6.0B | — |
| Operating income | $3.6B | $2.5B | $3.1B | $2.6B | $4.0B | $2.2B | $2.6B | $2.2B |
| Net income | $2.8B | $2.2B | $2.0B | $1.7B | $3.5B | $1.3B | $5.6B | $1.5B |
| EPS (diluted) | $3.16 | $2.44 | $2.25 | $1.87 | $4.10 | $1.58 | $6.15 | $1.72 |
| Free cash flow | $1.8B | $1.8B | $1.4B | $1.9B | $1.4B | $2.2B | $44.0M | $2.1B |
| Buybacks | — | $0 | $0 | $527.0M | $1.4B | $62.0M | $1.9B | $2.9B |
| Dividends paid | $0 | $0 | $138.0M | $417.0M | $509.0M | $620.0M | $670.0M | $772.0M |
| Diluted shares | 866.2M | 866.2M | 880.2M | 890.3M | 861.2M | 853.0M | 911.7M | 862.4M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into CARR?
A reverse DCF asks what growth the current price requires. With an enterprise value of $57.4B and $1.9B of trailing free cash flow, Carrier Global needs to grow free cash flow about 20.7% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 9.0% a year over the last five years.
P/E ratio history
Current 32.7x vs. median 20.2x (10th–90th percentile 9.7x–41.0x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
CARR dividend
- Dividend yield
- 1.71%
- Annual dividend
- $0.96
- Years of increases
- 5
- 5-yr dividend growth
- 19.2%
- per year
- Payout ratio
- 67%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
CARR analyst price targets
23 analysts' average 12-month target is $73.01 (+30% vs. $56.24). Targets range from $55.00 to $90.00. 50% rate it a buy.
CARR earnings
Next report: October 29, 2026. Carrier Global has beaten EPS estimates 2 quarters in a row. Last quarter's revenue was $6.4B (+4% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 28, 2026 | $0.82 | $0.86 | +5.2% |
| Apr 30, 2026 | $0.51 | $0.57 | +12.0% |
| Feb 5, 2026 | $0.36 | $0.34 | -4.5% |
| Oct 28, 2025 | $0.57 | $0.67 | +17.7% |
| Jul 29, 2025 | $0.90 | $0.92 | +1.9% |
| May 1, 2025 | $0.58 | $0.65 | +11.3% |
| Feb 11, 2025 | $0.48 | $0.54 | +11.4% |
| Oct 24, 2024 | $0.79 | $0.77 | -2.2% |
Stocks like CARR
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|---|---|---|---|---|---|
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CARR news
- 5 US manufacturing projects bring more than $1.6B in investments · Oct 23, 2026
- Carrier To Invest $600M In Fort Worth Advanced Manufacturing Facility · Oct 22, 2026
- Carrier Global (CARR) Reports Next Week: Wall Street Expects Earnings Growth · Oct 22, 2026
- Carrier to Invest More Than $600 Million to Expand Advanced U.S. Manufacturing and Engineering Capacity · Oct 22, 2026
- Does Carrier Global (CARR) Look Cheap After Its $433M Plant Plan? · Oct 21, 2026
CARR stock FAQ
What is CARR's market cap?
Carrier Global's market capitalization is $46.36 billion as of October 23, 2026, ranking 245th in the S&P 500.
What is CARR's P/E ratio?
CARR trades at a trailing price-to-earnings ratio of 40.8x and a forward P/E of 17.0x. Its median P/E over the period we track is 20.2x.
Does CARR pay a dividend?
Yes. Carrier Global pays $0.96 per share a year, a 1.71% yield. It has raised its dividend 5 years in a row. Dividends grew 19.2% a year over the last five years.
How much has CARR stock returned?
Including reinvested dividends, CARR returned -0.0% over one year, +2.0% a year over five years through October 23, 2026.
Is CARR stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Carrier Global must grow free cash flow about 21% a year for the next decade. Its free cash flow grew 9% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the CARR price target?
23 analysts cover CARR with an average 12-month price target of $73.01, +30% from the current price. 50% of them rate it a buy.
When does CARR report earnings?
Carrier Global is expected to report earnings on October 29, 2026. It has beaten EPS estimates 2 quarters in a row.
How many employees does Carrier Global have?
Carrier Global has about 47,000 full-time employees, or $470,383 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology