Return on Equity (ROE)
since 2020
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Carrier Global Corp. pages available for free this week:
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Selected Financial Data 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., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income attributable to common shareowners1 | ÷ | Equity attributable to common shareowners1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | = | 100 | × | ÷ | |||
| Dec 31, 2021 | = | 100 | × | ÷ | |||
| Dec 31, 2020 | = | 100 | × | ÷ |
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
- Net Income Attributable to Common Shareowners
- The net income attributable to common shareowners experienced a decline from 1982 million US dollars in 2020 to 1664 million US dollars in 2021. However, there was a strong recovery and substantial growth in 2022, where net income more than doubled to 3534 million US dollars. This indicates a significant increase in profitability in the latest year.
- Equity Attributable to Common Shareowners
- Equity attributable to common shareowners showed a consistent upward trend throughout the period. It increased from 6252 million US dollars in 2020 to 6767 million US dollars in 2021, and further to 7758 million US dollars in 2022. This steady growth suggests strengthening financial stability and retained earnings accumulation over the three years.
- Return on Equity (ROE)
- The return on equity declined from 31.7% in 2020 to 24.59% in 2021, mirroring the drop in net income during the same period. Subsequently, ROE increased significantly to 45.55% in 2022, exceeding the initial 2020 level. This sharp rise reflects improved efficiency in generating profits from the equity base in the most recent year.
Comparison to Competitors
Carrier Global Corp., ROE, 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., ROE, 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., ROE, 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).