Stock Analysis on Net

Carrier Global Corp. (NYSE:CARR)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 26, 2023.

Analysis of Solvency Ratios

Microsoft Excel

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Solvency Ratios (Summary)

Carrier Global Corp., solvency ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Carrier Global Corp. debt to equity ratio improved from 2020 to 2021 and from 2021 to 2022.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Carrier Global Corp. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Carrier Global Corp. debt to capital ratio improved from 2020 to 2021 and from 2021 to 2022.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Carrier Global Corp. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Carrier Global Corp. debt to assets ratio improved from 2020 to 2021 and from 2021 to 2022.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Carrier Global Corp. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Carrier Global Corp. financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Carrier Global Corp. interest coverage ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Carrier Global Corp. fixed charge coverage ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Debt to Equity

Carrier Global Corp., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, net of current portion
Total debt
 
Equity attributable to common shareowners
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Equity, Sector
Capital Goods
Debt to Equity, Industry
Industrials

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2022 Calculation
Debt to equity = Total debt ÷ Equity attributable to common shareowners
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Carrier Global Corp. debt to equity ratio improved from 2020 to 2021 and from 2021 to 2022.

Debt to Equity (including Operating Lease Liability)

Carrier Global Corp., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, net of current portion
Total debt
Current operating lease liabilities (included in Accrued liabilities)
Long-term operating lease liabilities
Total debt (including operating lease liability)
 
Equity attributable to common shareowners
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Equity (including Operating Lease Liability), Sector
Capital Goods
Debt to Equity (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2022 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Equity attributable to common shareowners
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Carrier Global Corp. debt to equity ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.

Debt to Capital

Carrier Global Corp., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, net of current portion
Total debt
Equity attributable to common shareowners
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Capital, Sector
Capital Goods
Debt to Capital, Industry
Industrials

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Carrier Global Corp. debt to capital ratio improved from 2020 to 2021 and from 2021 to 2022.

Debt to Capital (including Operating Lease Liability)

Carrier Global Corp., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, net of current portion
Total debt
Current operating lease liabilities (included in Accrued liabilities)
Long-term operating lease liabilities
Total debt (including operating lease liability)
Equity attributable to common shareowners
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Capital (including Operating Lease Liability), Sector
Capital Goods
Debt to Capital (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2022 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Carrier Global Corp. debt to capital ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.

Debt to Assets

Carrier Global Corp., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, net of current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Assets, Sector
Capital Goods
Debt to Assets, Industry
Industrials

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2022 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Carrier Global Corp. debt to assets ratio improved from 2020 to 2021 and from 2021 to 2022.

Debt to Assets (including Operating Lease Liability)

Carrier Global Corp., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt
Long-term debt, net of current portion
Total debt
Current operating lease liabilities (included in Accrued liabilities)
Long-term operating lease liabilities
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Debt to Assets (including Operating Lease Liability), Sector
Capital Goods
Debt to Assets (including Operating Lease Liability), Industry
Industrials

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2022 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Carrier Global Corp. debt to assets ratio (including operating lease liability) improved from 2020 to 2021 and from 2021 to 2022.

Financial Leverage

Carrier Global Corp., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Total assets
Equity attributable to common shareowners
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Financial Leverage, Sector
Capital Goods
Financial Leverage, Industry
Industrials

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2022 Calculation
Financial leverage = Total assets ÷ Equity attributable to common shareowners
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Carrier Global Corp. financial leverage ratio decreased from 2020 to 2021 and from 2021 to 2022.

Interest Coverage

Carrier Global Corp., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income attributable to common shareowners
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Interest Coverage, Sector
Capital Goods
Interest Coverage, Industry
Industrials

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2022 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Carrier Global Corp. interest coverage ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Fixed Charge Coverage

Carrier Global Corp., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income attributable to common shareowners
Add: Net income attributable to noncontrolling interest
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Operating lease expense
Earnings before fixed charges and tax
 
Interest expense
Operating lease expense
Fixed charges
Solvency Ratio
Fixed charge coverage1
Benchmarks
Fixed Charge Coverage, Competitors2
Boeing Co.
Caterpillar Inc.
Eaton Corp. plc
GE Aerospace
Honeywell International Inc.
Lockheed Martin Corp.
RTX Corp.
Fixed Charge Coverage, Sector
Capital Goods
Fixed Charge Coverage, Industry
Industrials

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 2022 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Carrier Global Corp. fixed charge coverage ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.