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Carrier Global Corporation ("we" or "our" or the "Company") is a global leader in intelligent climate and energy solutions, focused on providing differentiated, digitally enabled lifecycle solutions to our customers. Our portfolio includes industry-leading brands such as Carrier, Viessmann, Toshiba, Automated Logic and Carrier Transicold, among others, that offer innovative heating, coo…
Operating margin is thin at 9.99%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 3.3% YoY. The question is whether this is cyclical or a structural shift.
Net debt of $10.80B represents 5.1x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$21.87B
▼ -3.3% YoY
Net Income (TTM)
$1.28B
▼ -73.5% YoY
Op. Margin
8.24%
▼ -1.8pp YoY
ROIC
6.62%
▲ +1.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.69B
▲ +4720.5% YoY
Op. Cash Flow (TTM)
$2.11B
▲ +346.4% YoY
Net Debt
$11.18B
Cash & Equiv.
$1.37B
5Y CAGR: +4.5%
5Y CAGR: +9.0%
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