CARRIER GLOBAL Corp (CARR)

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

Latest Price

$61.81

TTM P/E

40.40

Normalized P/E

19.95

Div Yield

Book Value

16.53

P/B Ratio

3.74

Valuation metrics

EPS: $1.72

Book value / share: $16.90

Formula: √(22.5 × EPS × BVPS)

Graham Number

$25.57

59% downside

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

Tax rate: 29%

Discount rate: 10%

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

Earnings Power Value

$10.04

84% 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

+153% upside

EPS: $1.72

Target P/E: 20×

Formula: EPS × P/E

P/E Fair Value

$34.40

44% downside

79.3% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
Capital Research Global Investors	116.39M	$6.55B	13.94%	+41.65M	2026-03-31
BlackRock, Inc.	57.88M	$3.26B	6.93%	-602.3K	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	51.34M	$2.89B	6.15%	--	2026-03-31
VANGUARD PORTFOLIO MANAGEMENT LLC	36.51M	$2.06B	4.37%	--	2026-03-31
STATE STREET CORP	33.51M	$1.89B	4.01%	-219.4K	2026-03-31
Dodge & Cox	26.62M	$1.50B	3.19%	+13.20M	2026-03-31
Capital World Investors	19.72M	$1.11B	2.36%	-2.94M	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	17.64M	$989.0M	2.11%	+329.2K	2026-03-31
Fisher Asset Management, LLC	13.03M	$733.0M	1.56%	-1.77M	2026-03-31
MORGAN STANLEY	12.26M	$690.0M	1.47%	+503.8K	2026-03-31