Debt to Equity
since 2020
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Carrier Global Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2020
- Total Asset Turnover since 2020
- Price to Earnings (P/E) since 2020
- Price to Sales (P/S) since 2020
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Calculation
Carrier Global Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt, including current portion1 | ÷ | Equity attributable to common shareowners1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 US$ in millions
- Long-term Debt
- The long-term debt, including the current portion, has shown a consistent decline over the three reported years. It decreased from $10,227 million at the end of 2020 to $9,696 million in 2021, and further dropped to $8,842 million by the end of 2022. This trend indicates a reduction in the company's leverage through debt financing.
- Equity Attributable to Common Shareowners
- Equity attributable to common shareowners has experienced steady growth during the period. It increased from $6,252 million in 2020 to $6,767 million in 2021, and further expanded to $7,758 million as of December 31, 2022. This reflects a strengthening of the company's equity base over time.
- Debt to Equity Ratio
- The debt to equity ratio decreased significantly from 1.64 in 2020 to 1.43 in 2021, and further dropped to 1.14 in 2022. This reduction supports the observation of declining long-term debt relative to rising equity, suggesting an improved capital structure with lower financial risk associated with leverage.
Comparison to Competitors
Carrier Global Corp., debt to equity, long-term trends, comparison to competitors
| Carrier Global Corp. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | ||||||||
| Dec 31, 2021 | ||||||||
| Dec 31, 2020 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Comparison to Sector (Capital Goods)
Carrier Global Corp., debt to equity, long-term trends, comparison to sector (capital goods)
| Carrier Global Corp. | Capital Goods | |
|---|---|---|
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Comparison to Industry (Industrials)
Carrier Global Corp., debt to equity, long-term trends, comparison to industry (industrials)
| Carrier Global Corp. | Industrials | |
|---|---|---|
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).