Stock Analysis on Net

Carrier Global Corp. (NYSE:CARR)

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

Analysis of Long-term (Investment) Activity Ratios 
Quarterly Data

Microsoft Excel

Long-term Activity Ratios (Summary)

Carrier Global Corp., long-term (investment) activity ratios (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Net fixed asset turnover 9.24 9.11 9.95 11.27 11.27 11.29 11.38 10.74 10.28 9.64
Net fixed asset turnover (including operating lease, right-of-use asset) 7.25 7.08 7.63 8.47 8.50 8.36 8.40 7.52 7.17 6.72
Total asset turnover 0.80 0.78 0.81 0.86 0.85 0.79 0.78 0.77 0.73 0.70
Equity turnover 2.59 2.63 2.86 3.04 2.90 3.05 2.91 2.92 2.82 2.79

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Carrier Global Corp. net fixed asset turnover ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Carrier Global Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Carrier Global Corp. total asset turnover ratio deteriorated from Q3 2022 to Q4 2022 but then improved from Q4 2022 to Q1 2023 not reaching Q3 2022 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Carrier Global Corp. equity turnover ratio deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.

Net Fixed Asset Turnover

Carrier Global Corp., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Net sales 5,273 5,105 5,451 5,211 4,654 5,133 5,341 5,440 4,699 4,594 5,002 3,972 3,888
Fixed assets, net 2,277 2,241 2,055 1,805 1,825 1,826 1,764 1,837 1,777 1,810 1,676 1,651 1,638
Long-term Activity Ratio
Net fixed asset turnover1 9.24 9.11 9.95 11.27 11.27 11.29 11.38 10.74 10.28 9.64
Benchmarks
Net Fixed Asset Turnover, Competitors2
Boeing Co. 6.72 6.31 5.85 5.72 5.68 5.70 5.65 5.44 4.85 4.92 5.08 5.47 5.69
Caterpillar Inc. 4.91 4.70 4.62 4.36 4.18 3.99 3.84 3.59 3.32 3.15 3.34 3.53 3.84
Eaton Corp. plc 6.67 6.59 6.80 6.50 6.38 6.41 6.45 6.25 6.08 6.02 6.31 6.61 7.10
GE Aerospace 5.84 5.08 5.04 4.83 4.73 4.55 4.53 4.45 4.33 1.63 1.72 1.77 1.87
Honeywell International Inc. 6.57 6.48 6.54 6.45 6.27 6.18 6.28 6.15 5.88 5.86 6.13 6.48 6.96
Lockheed Martin Corp. 8.33 8.27 8.48 8.48 8.70 8.83 9.05 9.17 9.15 9.07 9.44 9.44 9.25
RTX Corp. 4.53 4.42 4.50 4.43 4.37 4.30 4.39 4.25 4.10 3.78 4.05 4.35 5.61

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q1 2023 Calculation
Net fixed asset turnover = (Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022 + Net salesQ2 2022) ÷ Fixed assets, net
= (5,273 + 5,105 + 5,451 + 5,211) ÷ 2,277 = 9.24

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Carrier Global Corp. net fixed asset turnover ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Carrier Global Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Net sales 5,273 5,105 5,451 5,211 4,654 5,133 5,341 5,440 4,699 4,594 5,002 3,972 3,888
 
Fixed assets, net 2,277 2,241 2,055 1,805 1,825 1,826 1,764 1,837 1,777 1,810 1,676 1,651 1,638
Operating lease right-of-use assets 625 642 625 595 596 640 626 786 770 788 823 843 865
Fixed assets, net (including operating lease, right-of-use asset) 2,902 2,883 2,680 2,400 2,421 2,466 2,390 2,623 2,547 2,598 2,499 2,494 2,503
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 7.25 7.08 7.63 8.47 8.50 8.36 8.40 7.52 7.17 6.72
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Eaton Corp. plc 5.65 5.58 5.73 5.59 5.58 5.60 5.62 5.42 5.30 5.26 5.52 5.78 6.19
RTX Corp. 4.04 3.95 4.01 3.93 3.87 3.80 3.89 3.76 3.63 3.36 3.56 3.81 4.64

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022 + Net salesQ2 2022) ÷ Fixed assets, net (including operating lease, right-of-use asset)
= (5,273 + 5,105 + 5,451 + 5,211) ÷ 2,902 = 7.25

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Carrier Global Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.

Total Asset Turnover

Carrier Global Corp., total asset turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Net sales 5,273 5,105 5,451 5,211 4,654 5,133 5,341 5,440 4,699 4,594 5,002 3,972 3,888
Total assets 26,411 26,086 25,350 23,662 24,193 26,172 25,788 25,738 24,868 25,093 25,728 24,176 22,001
Long-term Activity Ratio
Total asset turnover1 0.80 0.78 0.81 0.86 0.85 0.79 0.78 0.77 0.73 0.70
Benchmarks
Total Asset Turnover, Competitors2
Boeing Co. 0.52 0.49 0.45 0.45 0.45 0.45 0.43 0.41 0.38 0.38 0.38 0.41 0.49
Caterpillar Inc. 0.70 0.69 0.66 0.63 0.61 0.58 0.57 0.53 0.50 0.50 0.53 0.57 0.63
Eaton Corp. plc 0.60 0.59 0.59 0.56 0.56 0.58 0.57 0.52 0.52 0.56 0.59 0.63 0.68
GE Aerospace 0.43 0.39 0.40 0.39 0.37 0.36 0.30 0.30 0.29 0.29 0.30 0.31 0.33
Honeywell International Inc. 0.60 0.57 0.58 0.55 0.54 0.53 0.54 0.53 0.51 0.51 0.52 0.54 0.63
Lockheed Martin Corp. 1.21 1.25 1.24 1.24 1.28 1.32 1.28 1.28 1.28 1.29 1.27 1.27 1.24
RTX Corp. 0.42 0.42 0.42 0.41 0.41 0.40 0.40 0.39 0.38 0.35 0.37 0.40 0.50

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q1 2023 Calculation
Total asset turnover = (Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022 + Net salesQ2 2022) ÷ Total assets
= (5,273 + 5,105 + 5,451 + 5,211) ÷ 26,411 = 0.80

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Carrier Global Corp. total asset turnover ratio deteriorated from Q3 2022 to Q4 2022 but then improved from Q4 2022 to Q1 2023 not reaching Q3 2022 level.

Equity Turnover

Carrier Global Corp., equity turnover calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Net sales 5,273 5,105 5,451 5,211 4,654 5,133 5,341 5,440 4,699 4,594 5,002 3,972 3,888
Equity attributable to common shareowners 8,134 7,758 7,152 6,696 7,101 6,767 6,900 6,756 6,489 6,252 5,096 4,028 2,697
Long-term Activity Ratio
Equity turnover1 2.59 2.63 2.86 3.04 2.90 3.05 2.91 2.92 2.82 2.79
Benchmarks
Equity Turnover, Competitors2
Boeing Co.
Caterpillar Inc. 3.24 3.57 3.45 3.26 2.92 2.92 2.74 2.57 2.43 2.55 2.73 3.17 3.38
Eaton Corp. plc 1.23 1.22 1.26 1.21 1.19 1.20 1.22 1.24 1.18 1.20 1.27 1.35 1.47
GE Aerospace 2.24 2.02 2.29 2.06 1.82 1.76 1.92 2.15 2.10 2.05 2.32 2.40 2.44
Honeywell International Inc. 2.13 2.12 1.97 1.96 1.87 1.85 1.94 1.89 1.81 1.86 1.84 1.90 2.06
Lockheed Martin Corp. 6.86 7.12 5.41 5.61 6.57 6.12 6.89 10.24 10.46 10.87 12.97 16.77 17.74
RTX Corp. 0.94 0.92 0.94 0.93 0.89 0.88 0.89 0.88 0.84 0.78 0.87 0.96 1.78

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q1 2023 Calculation
Equity turnover = (Net salesQ1 2023 + Net salesQ4 2022 + Net salesQ3 2022 + Net salesQ2 2022) ÷ Equity attributable to common shareowners
= (5,273 + 5,105 + 5,451 + 5,211) ÷ 8,134 = 2.59

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Carrier Global Corp. equity turnover ratio deteriorated from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.