CARRIER GLOBAL Corp (CARR)

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip

Latest Price

$54.86

TTM P/E

35.86

Normalized P/E

17.40

Div Yield

Book Value

16.53

P/B Ratio

3.32

Valuation metrics

EPS: $1.72

Book value / share: $16.90

Formula: √(22.5 × EPS × BVPS)

Graham Number

$25.57

53% downside

Norm. op. income: $2.6B (median of 6yr)

Tax rate: 27%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$10.78

80% downside

Base FCF: $1.9B (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$156.20

+185% upside

EPS: $1.72

Target P/E: 17×

Formula: EPS × P/E

P/E Fair Value

$29.24

47% downside

85.6% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
Capital Research Global Investors	106.07M	$7.78B	12.70%	-10.33M	2026-06-30
BlackRock, Inc.	67.52M	$4.95B	8.09%	+9.64M	2026-06-30
Vanguard Capital Management LLC	51.28M	$3.76B	6.14%	-59.4K	2026-06-30
Vanguard Portfolio Management LLC	36.57M	$2.68B	4.38%	+54.2K	2026-06-30
JPMorgan Chase & Co	34.49M	$2.53B	4.13%	-3.23M	2026-06-30
State Street Corp	34.39M	$2.52B	4.12%	+876.6K	2026-06-30
Dodge & Cox	27.48M	$2.02B	3.29%	+853.3K	2026-06-30
Capital World Investors	19.33M	$1.42B	2.32%	-381.1K	2026-06-30
Geode Capital Management, LLC	17.70M	$1.29B	2.12%	+55.5K	2026-06-30
Fisher Asset Management, LLC	13.05M	$957.0M	1.56%	+17.5K	2026-06-30