Stock Analysis on Net
Stock Analysis on Net

Carrier Global Corp. (NYSE:CARR)

This company has been moved to the archive! The financial data has not been updated since April 26, 2023.

Enterprise Value (EV) 

Microsoft Excel

Current Enterprise Value (EV)

Carrier Global Corp., current enterprise value calculation

Microsoft Excel
Current share price (P) $40.65
No. shares of common stock outstanding 834,838,102
US$ in millions
Common equity (market value)1 33,936
Add: Non-controlling interest (per books) 318
Total equity 34,254
Add: Current portion of long-term debt (per books) 140
Add: Long-term debt, net of current portion (per books) 8,702
Total equity and debt 43,096
Less: Cash and cash equivalents 3,520
Enterprise value (EV) 39,576

Based on: 10-K (reporting date: 2022-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 40.65 × 834,838,102

Historical Enterprise Value (EV)

Carrier Global Corp., EV calculation

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Share price1, 2 $44.39 $46.06 $37.25
No. shares of common stock outstanding1 834,187,942 855,514,035 869,213,146
US$ in millions
Common equity (market value)3 37,030 39,405 32,378
Add: Non-controlling interest (book value) 318 327 326
Total equity 37,348 39,732 32,704
Add: Current portion of long-term debt (book value) 140 183 191
Add: Long-term debt, net of current portion (book value) 8,702 9,513 10,036
Total equity and debt 46,190 49,428 42,931
Less: Cash and cash equivalents 3,520 2,987 3,115
Enterprise value (EV) 42,670 46,441 39,816

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Carrier Global Corp. Annual Report.

3 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 44.39 × 834,187,942

Equity Trends
Common equity (market value) exhibited growth from 32,378 million US dollars in 2020 to 39,405 million US dollars in 2021, indicating a significant positive change. However, in 2022, this value declined slightly to 37,030 million US dollars, reflecting a reduction compared to the previous year but still above the 2020 level.
Total equity followed a similar trajectory, rising from 32,704 million US dollars in 2020 to a peak of 39,732 million US dollars in 2021, before contracting to 37,348 million US dollars in 2022. This pattern signifies a mid-period peak followed by a modest pullback.
Capital Structure and Valuation
The total equity and debt figure increased from 42,931 million US dollars in 2020 to 49,428 million US dollars in 2021, indicating an expansion in the company's capital base. In 2022, this figure declined to 46,190 million US dollars, suggesting some reduction in the overall capital employed.
Enterprise value (EV) showed a comparable trend, increasing from 39,816 million US dollars in 2020 to 46,441 million US dollars in 2021, followed by a decline to 42,670 million US dollars in 2022. This pattern reflects market valuation adjustments consistent with the changes in equity and total capital.
Summary Insights
The data indicates a phase of growth during the period ending 2021 across all key financial metrics, including equity (both market value and total), total capital, and enterprise value. However, in 2022, all these figures decreased compared to the previous year, implying a contraction or market revaluation. Despite this decline, 2022 values remained above the 2020 baseline, suggesting overall expansion over the observed period.