Price to Book Value (P/BV)
since 2020
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Carrier Global Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2020
- Return on Assets (ROA) since 2020
- Price to Earnings (P/E) since 2020
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Calculation
Carrier Global Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Equity attributable to common shareowners1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 7, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2021 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Carrier Global Corp. Annual Report.
- Share Price
- The share price increased significantly from $37.25 in 2021 to $46.06 in 2022, reflecting a rise of approximately 23.7%. However, in 2023, the share price decreased slightly to $44.39, representing a reduction of about 3.6% compared to the previous year.
- Book Value per Share (BVPS)
- The book value per share showed a consistent upward trend across the period. It increased from $7.19 in 2021 to $7.91 in 2022, marking an approximate 10% growth. This positive trend continued in 2023 with an increase to $9.30, amounting to a further growth of around 17.5% year-over-year.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio experienced fluctuations over the three years. It rose from 5.18 in 2021 to a peak of 5.82 in 2022, indicating the market price increased at a faster pace than the growth in book value during that period. Subsequently, the ratio declined to 4.77 in 2023, driven by the combination of a slightly lower share price and a higher book value per share, suggesting a more conservative valuation relative to the company's net asset value.
Comparison to Competitors
Carrier Global Corp., P/BV, 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. | |
|---|---|---|---|---|---|---|---|---|
| Feb 7, 2023 | ||||||||
| Feb 8, 2022 | ||||||||
| Feb 9, 2021 |
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., P/BV, long-term trends, comparison to sector (capital goods)
| Carrier Global Corp. | Capital Goods | |
|---|---|---|
| Feb 7, 2023 | ||
| Feb 8, 2022 | ||
| Feb 9, 2021 |
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., P/BV, long-term trends, comparison to industry (industrials)
| Carrier Global Corp. | Industrials | |
|---|---|---|
| Feb 7, 2023 | ||
| Feb 8, 2022 | ||
| Feb 9, 2021 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).